| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share available for common stockholders (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | 2022 | | 2021 | | 2022 | | 2021 | | Income (loss) from continuing operations | $ | 2,123 | | | $ | (13,040) | | | $ | (7,352) | | | $ | (33,337) | | | Income (loss) from discontinued operations, net of tax | — | | | — | | | (463) | | | 1,383 | | | Net income (loss) attributable to common shareholders of Evolent Health, Inc. | $ | 2,123 | | | $ | (13,040) | | | $ | (7,815) | | | $ | (31,954) | | | | | | | | | | | Weighted-average common shares outstanding - basic | 95,286 | | | 85,800 | | | 91,643 | | | 85,306 | | | Incremental diluted shares from stock options | 1,915 | | | — | | | — | | | — | | | Incremental diluted shares from Restricted stock units ("RSUs"), performance-based RSUs (“PSUs”) and leveraged stock units ("LSUs") | 2,107 | | | — | | | — | | | — | | | Convertible notes | — | | | — | | | — | | | — | | | Weighted-average common shares outstanding - diluted | 99,308 | | | 85,800 | | | 91,643 | | | 85,306 | | | | | | | | | | | Income (loss) per common share | | | | | | | | | Basic: | | | | | | | | | Continuing operations | $ | 0.02 | | | $ | (0.15) | | | $ | (0.08) | | | $ | (0.39) | | | Discontinued operations | — | | | — | | | (0.01) | | | 0.02 | | | Basic income (loss) per share attributable to common shareholders of Evolent Health, Inc. | $ | 0.02 | | | $ | (0.15) | | | $ | (0.09) | | | $ | (0.37) | | | Diluted: | | | | | | | | | Continuing operations | $ | 0.02 | | | $ | (0.15) | | | $ | (0.08) | | | $ | (0.39) | | | Discontinued operations | — | | | — | | | (0.01) | | | 0.02 | | | Diluted income (loss) per share attributable to common shareholders of Evolent Health, Inc. | $ | 0.02 | | | $ | (0.15) | | | $ | (0.09) | | | $ | (0.37) | |
Basic net income (loss) per common share is calculated using the weighted average number of common shares outstanding during the period. Diluted net earnings per common share, if any, gives effect to diluted stock options (calculated based on the treasury stock method), shares issuable upon debt conversion (calculated using an as-if converted method).
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| Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share |
Anti-dilutive shares excluded from the calculation of weighted-average common shares presented above are presented below (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | 2022 | | 2021 | | 2022 | | 2021 | | Restricted stock units ("RSUs"), performance-based RSUs (“PSUs”) and leveraged stock units ("LSUs") | — | | | 2,012 | | | 1,818 | | | 1,700 | | | Stock options | — | | | 2,004 | | | 1,858 | | | 2,008 | | | Convertible senior notes | 9,007 | | | 12,696 | | | 10,714 | | | 12,696 | | | Total | 9,007 | | | 16,712 | | | 14,390 | | | 16,404 | |
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