Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2025

Note 11. Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share of common stock attributable to common stockholders (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025			2024

Net income (loss)	$	1,717	$	3,413	$	(1,878	)	$	(3,956	)

Weighted average common shares outstanding — Basic		20,073		20,553		20,413			20,050
Plus incremental shares from assumed conversions:
Effect of dilutive securities		333		948		—			—
Weighted average common shares outstanding — Diluted		20,406		21,501		20,413			20,050
Net income (loss) per share:
Basic	$	0.09	$	0.17	$	(0.09	)	$	(0.20	)
Diluted	$	0.08	$	0.16	$	(0.09	)	$	(0.20	)

Incremental shares from stock options and restricted stock are computed by the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards and the estimated tax benefit of the assumed exercises.

The weighted average shares listed below were not included in the computation of diluted earnings per common share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024

Stock options		57		66		589		818
Restricted stock		255		316		701		674
Warrants		—		—		—		550
Total		312		382		1,290		2,042

Turtle Beach Corp 10-Q