Note
11. Net Earnings Per Share
Net
earnings per share is computed by dividing net income 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 three months ended March 31, 2026 and 2025 (in thousands, except per share amounts).
Schedule of Numerators and Denominators Used in Calculation of Basic and Diluted Earnings Per Share
| | |
2026 | | |
2025 | |
| | |
Three
Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Basic and diluted: | |
| | | |
| | |
| Net loss from
continuing operations | |
$ | (40,263 | ) | |
$ | (8,629 | ) |
| Discount on repurchase
of Series A Preferred Shares | |
| 12 | | |
| - | |
| Dividends
declared on Series A Preferred Shares | |
| (370 | ) | |
| (447 | ) |
| Loss attributable to FG
Nexus common shareholders from continuing operations | |
$ | (40,621 | ) | |
$ | (9,076 | ) |
| Weighted average common
shares outstanding (1) | |
| 6,632 | | |
| 254 | |
| Loss per common share
from continuing operations (1) | |
$ | (6.13 | ) | |
$ | (35.73 | ) |
| (1) | | Information pertaining to the number of shares outstanding and per share data gives retroactive
effect to a 1 for 5 reverse stock split that became effective on February 13, 2026. |
The
following potentially dilutive securities outstanding as of March 31, 2026 and 2025 have been excluded from the computation of diluted
weighted-average shares outstanding as their effect would be anti-dilutive.
Schedule of Potentially Dilutive Securities Excluded from Calculation
| | |
2026 | | |
2025 | |
| | |
As
of March 31, | |
| | |
2026 | | |
2025 | |
| Options
to purchase common stock | |
| 3,200 | | |
| 5,298 | |
| Restricted
stock units | |
| - | | |
| 4,345 | |
| Warrants | |
| 876,000 | | |
| 4,516 | |
|