EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

11.       EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed based on net income (loss) attributable to eXp shareholders divided by the basic weighted-average shares outstanding during the period. Dilutive earnings per share is computed consistently with the basic computation while giving effect to all dilutive potential common shares and common share equivalents that were outstanding during the period. The Company uses the treasury stock method to reflect the potential dilutive effect of unvested stock awards and unexercised options. The Company uses the if-converted method to reflect the potential dilutive effect of a $1.0 million payment obligation relating to the November 2018 acquisition of Virbela, LLC, that was paid in November 2021.

The following table sets forth the calculation of basic and diluted earnings per share attributable to common stock during the periods presented, adjusted to give effect to the Stock Split:

	Year Ended December 31,
	2021	2020	2019
Numerator:
Net income (loss) attributable to common stock	$ 81,220	$ 31,131	($ 9,528)
Denominator:
Weighted average shares - basic	146,170,871	138,572,358	126,256,407
Dilutive effect of common stock equivalents	11,558,503	12,977,717	-
Weighted average shares - diluted	157,729,374	151,550,075	126,256,407
Earnings (loss) per share:
Earnings per share attributable to common stock- basic	$ 0.56	$ 0.22	($ 0.08)
Earnings per share attributable to common stock- diluted	0.51	0.21	(0.08)

For the years ended December 31, 2021, 2020 and 2019, total outstanding shares of common stock excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive were 102,880, 283,842, and nil, respectively.