Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

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 (loss)/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. For the three and nine months ended September 30, 2023, diluted EPS reflects the potential dilution that could occur assuming that all units in P10 Intermediate that were granted as a result of the WTI acquisition are converted to shares of Class A common stock. Because the impact of these items is generally anti-dilutive during periods of net loss, there is no difference between basic and diluted loss per common share for periods with net losses.

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 September 30,					For the Nine Months Ended September 30,
	2023			2022		2023			2022
Numerator:
Numerator for basic calculation—Net (loss)/income
Numerator for basic calculation—Net (loss)/income    attributable to P10	$	(8,416	)	$	5,617	$	(6,048	)	$	24,563
Adjustment for:
Net (loss)/income attributable to noncontrolling interests in P10 Intermediate		(334	)		-		169			-
Numerator for (loss)/earnings per share
Numerator for (loss)/earnings per share assuming    dilution	$	(8,750	)	$	5,617	$	(5,879	)	$	24,563
Denominator:
Denominator for basic calculation—Weighted-    average shares		116,235			117,210		116,134			117,210
Weighted shares assumed upon exercise of partnership units		-			-		-			-
Weighted shares assumed upon exercise of stock    options		-			4,322		-			4,152
Denominator for (loss)/earnings per share assuming dilution		116,235			121,532		116,134			121,362
(Loss)/earnings per share—basic	$	(0.07	)	$	0.05	$	(0.05	)	$	0.21
(Loss)/earnings per share—diluted	$	(0.07	)	$	0.05	$	(0.05	)	$	0.20

If the Company was in a net income position, the computations of diluted earnings per share on a weighted average basis would exclude 1.8 million and 3.2 million options for the three and nine months ended September 30, 2023, respectively, because the options were anti-dilutive. The computations of diluted earnings per share on a weighted average basis exclude 1.0 million and 1.0 million options for the three and nine months ended September 30, 2022, respectively, because the options were anti-dilutive.