Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Reconciliation of Common Shares Used for Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the common shares used for basic net income per share to the diluted shares used for diluted net income per share:


Year Ended December 31,	2024	2023	2022
Basic weighted average shares outstanding	46,969,708	45,636,649	45,719,906
Effect of potential dilutive shares (1):

Restricted stock units	—	—	—
Performance stock units (1)	—	—	—
Diluted weighted average shares outstanding	46,969,708	45,636,649	45,719,906
Anti-dilutive shares excluded from the above reconciliation
Warrants	—	—	4,877,617
Restricted stock units	479,781	550,255	600,994
Performance stock units (1)	817,483	900,964	1,095,664

(1)Performance stock units are reflected based on the performance metrics through the balance sheet date. Vesting of these units is contingent upon meeting certain performance metrics. Although a portion of these performance metrics have been achieved as of the respective period end, it is possible that awards may no longer meet the metric at the end of the performance period.

Schedule of Earnings Per Share, Basic and Diluted

The following table provides a reconciliation of net income (loss) from continuing operations attributable to common stockholders to the numerator in the basic and diluted earnings per share calculation, together with the resulting earnings per share amounts:


Year ended December 31,	2024		2023		2022
Net income (loss) attributable to Ambac common stockholders	$	(59,282)	$	(24,551)	$	(36,115)
Adjustment to redemption value (ASC 480)	53,210		4,792		2,469
Numerator of basic and diluted EPS	$	(6,072)	$	(19,759)	$	(33,646)
Per Share:
Basic	$	(0.13)	$	(0.43)	$	(0.74)
Diluted	$	(0.13)	$	(0.43)	$	(0.74)

Schedule of Common Stock Repurchases

The following table shows shares repurchased by year.


($ in thousands, except per share) Year ended December 31,	2022		2023		2024
Shares repurchased	1,605,316		325,068		937,141
Total cost	$	14,217	$	4,510	$	11,699
Average purchase price per share	$	8.86	$	13.88	$	12.48
Unused authorization amount					$	38,302