EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2026

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):


	Three Months Ended
	March 31,
	2026		2025
Basic:
Net (loss) income	$	(56,477)	$	6,023
Less: Preferred stock dividend		(8,331)		(11,820)
Net (loss) income available to common stockholders	$	(64,808)	$	(5,797)
Weighted average basic number of common shares outstanding basic		17,415		16,457
Basic net (loss) income per share of common stock	$	(3.72)	$	(0.35)

Diluted:
Net (loss) income available to common stockholders basic	$	(64,808)	$	(5,797)
Net (loss) income available to common stockholders diluted	$	(64,808)	$	(5,797)

Weighted average basic number of common shares outstanding basic		17,415		16,457
Common stock equivalent shares representing shares issuable upon:
Exercise of stock options and vesting of restricted stock units⁽¹⁾		—		—
Weighted average diluted number of common shares outstanding diluted		17,415		16,457
Diluted net (loss) income per share of common stock	$	(3.72)	$	(0.35)

(1)	No impact to diluted earnings per share because antidilutive.

BATTALION OIL CORP 10-Q