Earnings Per Share

3 Months Ended

Mar. 31, 2025

NOTE 17 — EARNINGS PER SHARE

Basic earnings per share ("EPS") is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period and includes vested, unissued RSUs and ESPP shares. Diluted EPS is calculated by dividing net income (loss) 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 stock 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:


	Three Months Ended March 31,
	2025			2024
Basic net loss per share
Net loss available to common stockholders	$	(21.7	)	$	(12.7	)
Basic weighted average common shares outstanding		33,167,370			33,108,695
Basic net loss per share of common stock	$	(0.65	)	$	(0.38	)
Diluted loss per share
Net loss available to common stockholders	$	(21.7	)	$	(12.7	)
Basic weighted average common shares outstanding		33,167,370			33,108,695
Effect of dilutive securities:
Effect of dilutive securities		—			—
Diluted weighted average common shares outstanding		33,167,370			33,108,695
Diluted net loss per share of common stock	$	(0.65	)	$	(0.38	)

Approximately 795,000 and 1,161,000 securities were excluded from the calculation of diluted loss per share for the three months ended March 31, 2025 and 2024, respectively, because the inclusion of such securities in the calculation would have been anti-dilutive.