Bridge Investment Group Holdings Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2024

The following table presents our (loss) earnings per share for the three months ended March 31, 2024 and 2023 (dollar amounts in thousands, except per share data):


	Three Months Ended March 31,
		2024		2023
Net income attributable to Bridge Investment Group Holdings Inc.		$	9,818	$	2,034
Less:
Income allocated to Restricted Stock and RSUs		(1,601)		—
Distributions on Restricted Stock and RSUs		(657)		(1,306)
Net income available to Class A common shareholders - basic		$	7,560	$	728
Incremental net loss from assumed exchange of Class A units		(14,327)		(17,279)
Net loss available to Class A common stockholders, diluted		$	(6,767)	$	(16,551)

Denominator:
Weighted-average shares of Class A common stock outstanding—basic		31,342,979		25,068,319
Incremental shares from assumed exchange of Class A units		97,324,375		98,813,181
Weighted-average shares of Class A common stock outstanding—diluted		128,667,354		123,881,500

Earnings per share of Class A common stock—basic		$	0.24	$	0.03
Loss per share of Class A common stock—diluted		$	(0.05)	$	(0.13)

Basic earnings (loss) per share is calculated by dividing earnings or losses available to our Class A common shareholders by the weighted-average number of our Class A common shares outstanding for the period. Restricted Stock and RSUs that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. Accordingly, distributed and undistributed earnings attributable to unvested Restricted Stock and RSUs have been excluded as applicable from earnings available to our Class A common stockholders used in basic and diluted earnings per share.

Diluted earnings per share of our Class A common stock is computed by dividing earnings available to Bridge Investment Group Holdings Inc., giving consideration to the reallocation of net income (loss) between holders of our Class A common stock and non-controlling interests, by the weighted-average number of shares of our Class A common stock outstanding adjusted to give effect to potentially dilutive securities, if any.

Shares of our Class B common stock do not share in the earnings or losses attributable to the Company and therefore are not participating securities. As a result, a separate presentation of basic and diluted earnings (loss) per share of Class B common stock under the two-class method has not been included.