Earnings Per Share

9 Months Ended

Sep. 30, 2025

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the

weighted-average number of common shares outstanding. Diluted net income (loss) per share is computed by dividing net

income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding plus the

dilutive effect of outstanding securities, and such dilutive effect is computed using the treasury stock method.

The following table sets forth the computation of basic and diluted net (loss) income per share (in thousands, except share

and per share amounts):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Basic:
Net (loss) income attributable to common stockholders	$(23,478)	$26,322	$90,855	$96,139
Weighted-average number of common shares	141,226,862	137,107,595	140,569,409	129,877,510
Net (loss) income per common share	$(0.17)	$0.19	$0.65	$0.74

Diluted:
Net (loss) income attributable to common stockholders	$(23,478)	$26,322	$90,855	$96,139
Weighted-average number of common shares	141,226,862	137,542,995	141,242,065	130,022,643
Net (loss) income per common share	$(0.17)	$0.19	$0.64	$0.74

The following table sets forth the components of the denominator for the computation of basic and diluted net (loss) income

per share for net (loss) income attributable to Ardent Health, Inc. stockholders:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Weighted-average number of common shares - basic	141,226,862	137,107,595	140,569,409	129,877,510
Effect of dilutive securities(1)	—	435,400	672,656	145,133
Weighted-average number of common shares - diluted	141,226,862	137,542,995	141,242,065	130,022,643

(1)The effect of dilutive securities does not reflect weighted-average potential common shares from restricted stock and restricted stock units of

3,034,583 and 379,437 for the three months ended September 30, 2025 and 2024, respectively, and 1,439,373 and 126,479 for the nine months ended

September 30, 2025 and 2024, respectively, because their effect was antidilutive as calculated under the treasury stock method.