Earnings Per Share

6 Months Ended

Jun. 30, 2022

Note 17. Earnings Per Share

The Company presents basic EPS and diluted EPS for our common stock. Basic EPS excludes potential dilution and is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if shares of common stock were issued pursuant to our stock-based compensation awards. Additionally, diluted EPS reflects the potential dilution that could occur if convertible preferred shares of P10 Intermediate were converted into common shares of P10 Intermediate. This is only applicable for the three and six months ended June 30, 2021 as the preferred shares of P10 Intermediate converted to Class B common shares effective with the IPO.

The following table presents a reconciliation of the numerators and denominators used in the computation of basic and diluted EPS:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,

	2022		2021		2022		2021
Numerator:
Numerator for earnings per share assuming dilution	$	11,154	$	1,501	$	18,946	$	3,146
Denominator:
Denominator for basic calculation—Weighted- average shares		117,193		62,465		117,193		62,465
Weighted shares assumed upon exercise of stock options		3,788		4,277		4,066		4,195
Denominator for earnings per share assuming dilution		120,981		66,742		121,259		66,660
Earnings per share—basic	$	0.10	$	0.02	$	0.16	$	0.05
Earnings per share—diluted	$	0.09	$	0.02	$	0.16	$	0.05

The computations of diluted earnings per share excluded options to purchase 1.4 million and 1.0 million shares of common stock for the three and six months ended June 30, 2022 and 2.9 million and 2.9 million shares for the three and six months ended June 30, 2021, respectively, because the options were anti-dilutive.