Net Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Earnings Per Share

Note 10. Net Earnings Per Share

Net earnings per share is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding during the periods presented. In calculating diluted earnings per share, those potential common shares that are found to be anti-dilutive are excluded from the calculation. The table below provides a summary of the calculations used in determining basic and diluted earnings per share for the years ended December 31, 2022 and 2021.

($ in thousands)	Year Ended December 31,
	2022			2021
Basic and diluted:
Net income (loss) from continuing operations	$	1,088		$	(7,333	)
Income attributable to noncontrolling interest		–			(1,326	)
Dividends declared on Series A Preferred Shares		(1,789	)		(1,692	)
Loss attributable to FG Financial Group, Inc. common shareholders from continuing operations		(701	)		(10,351	)
Weighted average common shares		8,030,106			5,212,772
Loss per common share from continuing operations	$	(0.09	)	$	(1.99	)
Gain from sale of former insurance business	$	–		$	(145	)
Weighted average common shares outstanding		8,030,106			5,212,772
Income per common share from discontinued operations	$	–		$	0.03
Loss per share attributable to common shareholders	$	(0.09	)	$	(1.96	)

The following potentially dilutive securities outstanding as of December 31, 2022 and 2021 have been excluded from the computation of diluted weighted-average shares outstanding as their effect would be anti-dilutive.

	As of December 31,
	2022		2021
Warrants to purchase common stock		-		1,500,000
Options to purchase common stock		130,000		130,000
Restricted shares		25,000		-
Restricted stock units		256,382		164,655
		411,382		1,794,655