Landsea Homes Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Earnings Per Share

Earnings Per Share

3 Months Ended

Mar. 31, 2025

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three and three months ended March 31, 2025 and 2024:


	Three Months Ended March 31,
	2025		2024
	(dollars in thousands, except share and per share amounts)
Numerator
Net (loss) income attributable to common stockholders	$	(7,254)	$	190

Denominator
Weighted average common shares outstanding - basic	36,334,207		36,279,679

Dilutive effect of warrants	—		135,932
Dilutive effect of options	—		146,408
Dilutive effect of share-based awards	—		236,703
Weighted average common shares outstanding - diluted	36,334,207		36,798,722

(Loss) earnings per share
Basic	$	(0.20)	$	0.01
Diluted	$	(0.20)	$	0.01

The Company excluded 2.1 million common stock equivalents from diluted EPS related to antidilutive equity instruments during the three months ended March 31, 2025. The Company also excluded 0.2 million of potentially dilutive stock related to options and awards due to the Company being in a net loss position during the three months ended March 31, 2025. The Company excluded 0.1 million common stock equivalents from diluted EPS related to antidilutive equity instruments during the three months ended March 31, 2024. The antidilutive effect during the three months ended March 31, 2025, is primarily attributable to the warrants. During that period, the average stock price of the Company was below the strike price of the warrants, whereas during the three months ended March 31, 2024, the average stock price exceeded the warrants’ strike price.