Earnings (Loss) Per Share

9 Months Ended

Mar. 31, 2025

Basic earnings (loss) per common share is computed by dividing net earnings (loss) available to the common shareholders by the weighted-average number of shares of common stock outstanding during the period.

Diluted earnings (loss) per common share is computed by dividing the diluted earnings (loss) available to the common shareholders by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. The dilutive effect of equity awards is calculated based on the average stock price for each fiscal period, using the treasury stock method. For the three months ended March 31, 2025, as the Company was in a net loss position, there were no dilutive shares. For the nine months ended March 31, 2025, diluted shares outstanding include the dilutive effect of the potential shares of Coherent Common Stock issuable from performance and restricted shares. For the three and nine months ended March 31, 2024, as the Company was in a net loss position, there were no dilutive shares.

Potentially dilutive shares whose effect would have been anti-dilutive are excluded from the computation of diluted earnings (loss) per common share. For the three months ended March 31, 2025, diluted loss per share excluded the potentially dilutive effect of the performance and restricted shares, calculated based on the average stock price for each fiscal period, using the treasury stock method, as well as the shares of Coherent Common Stock issuable upon conversion of the Series B Convertible Preferred Stock (under the If-Converted method), as their effects were anti-dilutive. For the nine months ended March 31, 2025, diluted earnings per share excludes the potentially dilutive effect of the shares of Coherent Common Stock issuable upon conversion of the Series B Convertible Preferred Stock (under the If-Converted method), as their effects were anti-dilutive. For the three and nine months ended March 31, 2024, diluted loss per share excluded the potentially dilutive effect of the performance and restricted shares, calculated based on the average stock price for each fiscal period, using the treasury stock method, as well as the shares of Coherent Common Stock issuable upon conversion of the Series B Convertible Preferred Stock (under the If-Converted method), as their effects were anti-dilutive.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations (000, except per share data):


	Three Months Ended March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
Numerator
Net earnings (loss) attributable to Coherent Corp.	$	15,711	$	(13,187)	$	144,983	$	(107,712)

Deduct Series B dividends and deemed dividends	(32,693)		(31,193)		(96,788)		(91,946)
Basic earnings (loss) available to common shareholders	$	(16,982)	$	(44,380)	$	48,195	$	(199,658)




Diluted earnings (loss) available to common shareholders	$	(16,982)	$	(44,380)	$	48,195	$	(199,658)

Denominator
Weighted average shares	155,175		152,138		154,518		151,341
Effect of dilutive securities:
Common stock equivalents	—		—		4,702		—



Diluted weighted average common shares	155,175		152,138		159,220		151,341

Basic earnings (loss) per common share	$	(0.11)	$	(0.29)	$	0.31	$	(1.32)

Diluted earnings (loss) per common share	$	(0.11)	$	(0.29)	$	0.30	$	(1.32)

The following table presents potential shares of common stock excluded from the calculation of diluted net earnings (loss) per share, as their effect would have been anti-dilutive (000):


	Three Months Ended March 31,		Nine Months Ended March 31,
	2025	2024	2025	2024
Common stock equivalents	290	3,546	100	2,613


Series B Convertible Preferred Stock	29,281	27,862	28,921	27,518
Total anti-dilutive shares	29,571	31,408	29,021	30,131