Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2025

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share for the three and nine months ended September 30, 2025, and 2024:


	Three Months Ended			Nine Months Ended
	September 30,			September 30,
(in thousands, except share data)		2025		2024		2025		2024
Numerator:
Net (loss) income attributable to common stockholders		$	(565)	$	(34,624)	$	(28,144)	$	(179,015)
Dividends allocated to participating restricted stock units		$	(194)	$	(198)	$	(590)	$	(786)
Net (loss) income attributable to common stockholders - basic and diluted		$	(759)	$	(34,822)	$	(28,734)	$	(179,801)




Denominator:







Average common shares outstanding - basic and diluted		47,394,519		50,526,492		48,026,438		50,736,066
(Loss) earnings per share:
Basic		$	(0.01)	$	(0.69)	$	(0.59)	$	(3.53)
Diluted		$	(0.01)	$	(0.69)	$	(0.59)	(3.53)

Diluted earnings per share is calculated under both the two-class method and treasury stock method, and the more dilutive amount is reported. The computation of diluted earnings per share is also based on the incremental shares that would be outstanding assuming the settlement of RSUs. During the three and nine months ended September 30, 2025, 1,270,608 and 881,423 of weighted-average unvested RSUs, respectively, were excluded from the dilutive earnings per share denominator, as their inclusion would be antidilutive. For the nine months ended September 30, 2024, 623,424 of weighted-average unvested RSUs were excluded from the dilutive earnings per share denominator, as their inclusion would be antidilutive. For the three months ended September 30, 2024, under both the two-class method and the treasury stock method no shares were included in the dilutive earnings per share denominator, as their inclusion would have been antidilutive.

outstanding assuming the settlement of PSUs. For the three and nine months ended September 30, 2025, and 2024, under both the two-class method and treasury stock method no additional weighted-average unvested PSUs were included in the dilutive earnings per share denominator, as their inclusion would be antidilutive. As of September 30, 2025, and 2024, there were no incremental shares of unvested PSUs.

Granite Point Mortgage Trust Inc. 10-Q