Loss Per Share

3 Months Ended

Mar. 27, 2025

3. LOSS PER SHARE

Basic loss per share is computed on the basis of the weighted average number of shares of common stock outstanding. Diluted loss per share is computed on the basis of the weighted average number of shares of common stock outstanding plus the effect of potentially dilutive common stock options, restricted stock and restricted stock units using the treasury stock method. The components of basic and diluted loss per NCM, Inc. share are as follows:


	Three Months Ended
	March 27, 2025			March 28, 2024
Net loss attributable to NCM, Inc. (in millions)	$	(30.7	)	$	(34.7	)
Weighted average shares outstanding:
Basic		95,385,062			96,918,564
Add: Dilutive effect of stock options, restricted stock and exchangeable membership units		—			—
Diluted		95,385,062			96,918,564
Loss per NCM, Inc. share:
Basic	$	(0.32	)	$	(0.36	)
Diluted	$	(0.32	)	$	(0.36	)

The effect of the 3,265 weighted average exchangeable NCM LLC common units held by AMC for the three months ended March 27, 2025 have been excluded from the calculation of diluted weighted average shares and loss per NCM, Inc. share as they were anti-dilutive. There were no weighted average exchangeable NCM LLC common units held by NCM LLC's other members for the three months ended March 28, 2024. NCM LLC common units do not participate in dividends paid on NCM, Inc.'s common stock. In addition, there were 5,347,564 and 7,108,951 stock options and non-vested (restricted) shares for the three months ended March 27, 2025 and March 28, 2024, respectively, excluded from the calculation as they were anti-dilutive. The Company’s non-vested (restricted) shares do not meet the definition of a participating security as the dividends will not be paid if the shares do not vest.

National CineMedia, Inc. 10-Q