Earnings Per Share

3 Months Ended

Mar. 31, 2021

Basic earnings per share is calculated using the weighted average number of shares of the Company’s common stock issued and outstanding during a certain period, and is calculated by dividing net income attributable to ApolloMed by the weighted average number of shares of the Company’s common stock issued and outstanding during such period. Diluted earnings per share is calculated using the weighted average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period, using the as-if converted method for secured convertible notes, preferred stock, and the treasury stock method for options and common stock warrants.

As of March 31, 2021 and December 31, 2020, APC held 12,425,639 and 12,323,164 shares of ApolloMed’s common stock, respectively, which are treated as treasury shares for accounting purposes and not included in the number of shares of common stock outstanding used to calculate earnings per share.

Below is a summary of the earnings per share computations:


Three Months Ended March 31,	2021		2020
Earnings per share – basic	$	0.31	$	0.11
Earnings per share – diluted	$	0.30	$	0.11
Weighted average shares of common stock outstanding – basic	42,336,434		36,010,268
Weighted average shares of common stock outstanding – diluted	43,566,189		37,439,099

Below is a summary of the shares included in the diluted earnings per share computations:


Three Months Ended March 31,	2021	2020
Weighted average shares of common stock outstanding – basic	42,336,434	36,010,268

Stock options	318,749	185,830
Warrants	811,787	1,207,445
Restricted stock awards	99,219	35,556
Weighted average shares of common stock outstanding – diluted	43,566,189	37,439,099