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13. EARNINGS PER SHARE
The calculation of earnings per share ("EPS") for our Class A common stock is as follows:
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Numerator: |
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Net loss attributable to ProFrac Holding Corp. |
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$ |
(369.0 |
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$ |
(215.1 |
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$ |
(97.7 |
) |
Adjust Series A redeemable convertible preferred stock to its maximum redemption value |
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(5.3 |
) |
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(4.8 |
) |
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(9.8 |
) |
Net income (loss) used for basic and diluted earnings per Class A common share |
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$ |
(374.3 |
) |
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$ |
(219.9 |
) |
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$ |
(107.5 |
) |
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Denominator: |
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Weighted average Class A common shares |
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168.3 |
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159.9 |
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130.9 |
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Dilutive potential of restricted stock units |
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— |
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— |
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— |
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Weighted average Class A common shares — diluted |
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168.3 |
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159.9 |
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130.9 |
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Basic and diluted earnings per Class A common share |
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$ |
(2.22 |
) |
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$ |
(1.38 |
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$ |
(0.82 |
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Antidilutive shares: |
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Common stock equivalents related to Preferred Stock |
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2.9 |
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2.7 |
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2.5 |
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Restricted stock units which are antidilutive due to net loss position |
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— |
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0.1 |
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0.2 |
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Contingently issuable shares |
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0.3 |
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— |
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— |
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Total antidilutive shares |
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3.2 |
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2.8 |
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2.7 |
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The dilutive potential of restricted stock units was calculated using the treasury stock method. The dilutive potential of our Preferred Stock is calculated using the if-converted method.
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