XML 47 R27.htm IDEA: XBRL DOCUMENT v3.24.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 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 year ended December 31, 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 Company has Class A and Class B shares outstanding, therefore follows the two-class method. However, the shares are entitled to the same amount of the Company's earnings therefore the earnings per share calculation for Class A and Class B shares will always be equivalent.

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

 

 

 

For the Year
Ended December 31,

 

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Numerator for basic calculation—Net (loss)/income

 

 

 

 

 

 

 

 

 

Numerator for basic calculation—Net (loss)/income
   attributable to P10

 

$

(7,133

)

 

$

29,206

 

 

$

9,174

 

Adjustment for:

 

 

 

 

 

 

 

 

 

Net (loss)/income attributable to noncontrolling interests in P10 Intermediate

 

 

(639

)

 

 

193

 

 

 

-

 

Numerator for (loss)/earnings per share

 

 

 

 

 

 

 

 

 

Numerator for (loss)/earnings per share assuming dilution

 

$

(7,772

)

 

$

29,399

 

 

$

9,174

 

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic calculation—Weighted-
   average shares outstanding, basic attributable to P10

 

 

116,104

 

 

 

116,751

 

 

 

72,660

 

Weighted shares assumed upon exercise of partnership units

 

 

-

 

 

 

979

 

 

 

-

 

Weighted shares assumed upon exercise of stock
   options

 

 

-

 

 

 

3,924

 

 

 

39,670

 

Denominator for (loss)/earnings per share assuming dilution

 

 

116,104

 

 

 

121,655

 

 

 

112,332

 

(Loss)/earnings per Class A share—basic

 

$

(0.06

)

 

$

0.25

 

 

$

0.13

 

(Loss)/earnings per Class A share—diluted

 

$

(0.06

)

 

$

0.24

 

 

$

0.08

 

(Loss)/earnings per Class B share—basic

 

$

(0.06

)

 

$

0.25

 

 

$

0.13

 

(Loss)/earnings per Class B share—diluted

 

$

(0.06

)

 

$

0.24

 

 

$

0.08

 

 

If the Company was in a net income position, the computations of diluted earnings per share on a weighted average basis would exclude 7.0 million options for the year ended December 31, 2023. The computations of diluted earnings per share excluded options to purchase 6.7 million shares of common stock for the year ended December 31, 2022 and 0.1 million options for the year ended December 31, 2021, respectively, because the options were anti-dilutive.