Earnings Per Share

6 Months Ended

Jun. 30, 2021

Basic net earnings per share of Class A Common Stock is computed by dividing net earnings attributable to the Company by the weighted-average number of shares of Class A Common Stock outstanding during the period from June 16, 2021 (Closing Date) to June 30, 2021. Diluted net earnings per share of Class A Common Stock is computed by dividing net income attributable to the Company, adjusted for the assumed exchange of all potentially dilutive securities, by the weighted-average number of shares of Class A Common Stock outstanding adjusted to give effect to potentially dilutive shares.

Prior to the Business Combination, the membership structure of WMH included units which had profit interests. The Company analyzed the calculation of net earnings (loss) per unit for periods prior to the Business Combination and determined that it resulted in values that would not be meaningful to the users of these condensed consolidated financial statements. Therefore, net earnings per share information has not been presented for periods prior to the Business Combination on June 16, 2021. The basic and diluted earnings (loss) per share for the three and six months ended June 30, 2021 represent only the period from June 16, 2021 to June 30, 2021.

The computation of net earnings per share attributable to WM Technology, Inc. and weighted-average shares of the Company’s Class A Common Stock outstanding for period from June 16, 2021 (Closing Date) to June 30, 2021 are as follows (amounts in thousands, except for share and per share amounts):


	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Numerator:
Net income	$	16,837	$	24,568
Less: net income attributable to WMH LLC prior to the Business Combination	7,347		15,078
Less: net income attributable to noncontrolling interests after the Business Combination	5,227		5,227
Net income attributable to WM Technology, Inc. - basic	4,263		4,263
Effect of dilutive securities:
Less: fair value change of Public and Private Placement Warrants, net of amounts attributable to noncontrolling interests	16,061		16,061
Net loss attributable to WM Technology, Inc. - diluted	$	(11,798)	$	(11,798)
Denominator:
Weighted average common shares outstanding - basic	63,738,563		63,738,563
Weighted average effect of dilutive securities:
Public Warrants¹	4,877,681		4,877,681
Private Placement Warrants¹	2,731,502		2,731,502
Weighted average common shares outstanding - diluted	71,347,746		71,347,746

Net income (loss) per share of Class A Common Stock:
Net income per share of Class A Common Stock - basic	$	0.07	$	0.07
Net loss per share of Class A Common Stock - diluted	$	(0.17)	$	(0.17)

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¹Calculated using the treasury stock method.

Shares of the Class V Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class V Common Stock under the two-class method has not been presented.

The Company excluded the following securities from its computation of diluted shares outstanding, as their effect would have been anti-dilutive:


						June 30, 2021
Class A Units						65,502,347
Class P Units						25,679,121
Total Units						91,181,468