Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 18 — EARNINGS PER SHARE

Basic earnings per share ("EPS") is calculated by dividing net income by the weighted-average number of common shares outstanding during the period and includes vested, unissued RSUs, PSUs, and ESPP shares. Diluted EPS is calculated by dividing net income by the weighted-average number of common shares outstanding, after giving effect to all potential dilutive common shares outstanding during the period. We include all common share equivalents granted under our stock-based compensation plan, including ESPP, which remain unvested, and shares used as consideration in the Ault acquisition which remain unissued ("dilutive securities"), in the number of shares outstanding for our diluted EPS calculations using the treasury method.

Basic and diluted EPS were calculated as follows:

	Year Ended December 31,
	2024			2023		2022
Basic net (loss) income per share
Net (loss) income available to common stockholders	$	(65.1	)	$	5.9	$	6.3
Basic weighted average common shares outstanding		33,179,598			32,447,754		32,099,247
Basic net (loss) income per share of common stock	$	(1.96	)	$	0.18	$	0.20
Diluted (loss) income per share
Net (loss) income available to common stockholders	$	(65.1	)	$	5.9	$	6.3
Basic weighted average common shares outstanding		33,179,598			32,447,754		32,099,247
Effect of dilutive securities:
Effect of dilutive securities		—			429,753		202,416
Diluted weighted average common shares outstanding		33,179,598			32,877,507		32,301,663
Diluted net (loss) income per share of common stock	$	(1.96	)	$	0.18	$	0.20

Approximately 918,000 securities were excluded from the calculation of diluted loss per share for the year ended December 31, 2024, because the inclusion of such securities in the calculation would have been anti-dilutive.