Note
14. Earnings Per Share
Net
earnings per share is computed by dividing net income (loss) by the weighted average number of common shares and common share equivalents
outstanding during the periods presented. In calculating diluted earnings per share, those potential common shares that are found to
be anti-dilutive are excluded from the calculation. The table below provides a summary of the numerators and denominators used in determining
basic and diluted earnings per share for the year ended December 31, 2025 and 2024 (in thousands, except per share amounts).
Schedule of Numerators and Denominators Used in Calculation of Basic and Diluted Earnings Per Share
| | |
2025 | | |
2024 | |
| | |
Year
Ended December 31, | |
| | |
2025 | | |
2024 | |
| Basic and diluted: | |
| | | |
| | |
| Net loss from
continuing operations | |
$ | (67,634 | ) | |
$ | (24,277 | ) |
| Net loss attributable to
non-controlling interest | |
| - | | |
| 160 | |
| Discount on repurchase
of Series A Preferred Shares | |
| 16 | | |
| - | |
| Dividends
declared on Series A Preferred Shares | |
| (1,788 | ) | |
| (1,410 | ) |
| Loss attributable to FG
Nexus common shareholders from continuing operations | |
$ | (69,406 | ) | |
$ | (25,527 | ) |
| Weighted average common
shares outstanding | |
| 2,667 | | |
| 211 | |
| Loss
per common share from continuing operations | |
$ | (26.02 | ) | |
$ | (120.98 | ) |
The
following potentially dilutive securities outstanding as of December 31, 2025 and 2024 have been excluded from the computation of diluted
weighted-average shares outstanding as their effect would be anti-dilutive under the treasury stock method.
Schedule of Potentially Dilutive Securities Excluded from Calculation
| | |
2025 | | |
2024 | |
| | |
As
of December 31, | |
| | |
2025 | | |
2024 | |
| Options to purchase common stock | |
| 3,200 | | |
| 5,358 | |
| Warrants | |
| 877,316 | | |
| 4,516 | |
| Restricted stock units | |
| - | | |
| 6,265 | |
| Potentially
dilutive securities outstanding | |
| 880,516 | | |
| 16,139 | |
|