Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share also includes the incremental effect of dilutive potentially issuable common shares outstanding. Dilutive potentially issuable common shares include the dilutive effect of employee equity awards.

In connection with the acquisition of MoneyLion, we issued 12 million equity-classified CVRs to MoneyLion shareholders and optionholders. The CVRs entitle holders to receive a contingent payment of $23.00 per CVR, payable in shares of Gen’s common stock, if our volume-weighted average share price equals or exceeds $37.50 over any 30 consecutive trading days from December 10, 2024 until April 17, 2027. As of July 3, 2026 and April 3, 2026, there were 12 million CVRs outstanding. The 12 million CVRs are excluded from the diluted net income per share calculation as the contingent conditions for issuance of common shares have not yet been met within the period.


	Three Months Ended
(In millions, except per share amounts)	July 3, 2026		July 4, 2025
Net income (loss)	$	215	$	135

Net income (loss) per share - basic	$	0.36	$	0.22
Net income (loss) per share - diluted	$	0.36	$	0.22

Weighted-average shares outstanding - basic	599		617
Dilutive potentially issuable shares:

Employee equity awards	4		7
Weighted-average shares outstanding - diluted	603		624

Anti-dilutive shares excluded from diluted net income per share calculation:

Employee equity awards	12		3