Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2025

The following table sets forth the computation of basic and diluted income (loss) per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator:
Net income (loss)	$	30,834	$	24,681	$	74,491	$	(7,149)
Gain on fair value of warrant liabilities	—		(8,219)		(9,905)		—
Net income (loss) adjusted for gain on fair value of warrant liabilities	$	30,834	$	16,462	$	64,586	$	(7,149)
Denominator:
Basic weighted average shares of common stock outstanding	189,714,398		176,034,571		191,818,214		175,610,399
Diluted effect of stock-based awards	2,843,887		2,850,849		3,416,043		—
Diluted effect of warrants	—		1,076,408		2,457,255		—
Diluted effect of market condition equity awards	—		—		61,838		—
Diluted effect of KPI awards	—		—		60,909		—
Diluted weighted average shares of common stock outstanding	192,558,285		179,961,828		197,814,259		175,610,399

Net income (loss) per share
Basic	$	0.16	$	0.14	$	0.39	$	(0.04)
Diluted	$	0.16	$	0.09	$	0.33	$	(0.04)

The following table presents the potential shares that are excluded from the computation of diluted net income (loss) per share and income (loss) per share for the periods presented because including them would have had an anti-dilutive effect:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Stock options issued under 2020 Plan	—	—	—	1,171,725
Time-based RSUs	1,928,099	—	642,700	6,316,214

Warrants	—	—	—	37,359,837

Shares issuable for the market condition awards and 2025 KPI awards (see Note 8) are not included in the table above, as the market condition criterion and 2025 KPI award targets have not yet been achieved. Such shares are therefore not included in the Company's calculation of basic or diluted net income (loss) per share.

Grindr Inc. 10-Q