Earnings Per Share

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021, APC held 10,925,702 shares of ApolloMed’s common stock, 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,	2022		2021
Earnings per share – basic	$	0.32	$	0.31
Earnings per share – diluted	$	0.31	$	0.30
Weighted average shares of common stock outstanding – basic	44,681,218		42,336,434
Weighted average shares of common stock outstanding – diluted	45,994,868		43,566,189

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


Three Months Ended March 31,	2022	2021
Weighted average shares of common stock outstanding – basic	44,681,218	42,336,434

Stock options	482,337	318,749
Warrants	729,422	811,787
Restricted stock awards	101,891	99,219
Weighted average shares of common stock outstanding – diluted	45,994,868	43,566,189