CytoDyn Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

(Loss) Income per Share

(Loss) Income per Share

3 Months Ended

Aug. 31, 2025

Note 7. (Loss) Income per Share

Basic (loss) income per share is computed by dividing the net (loss) income adjusted for preferred stock dividends by the weighted average number of common shares outstanding during the period. Diluted (loss) income per share includes the weighted average common shares outstanding and potentially dilutive common stock equivalents. Basic and diluted (loss) income per share for the three months ended August 31, 2025 and August 31, 2024 were calculated as follows:


	Three months ended August 31,
(in thousands, except per share amounts)	2025		2024
Numerator:
Net (loss) income	$	(5,540)	$	19,227
Less: Accrued preferred stock dividends		(373)		(372)
Basic net (loss) income applicable to common stockholders		(5,913)		18,855
Reallocation of undistributed earnings as a result of conversion of preferred stock		—		372
Diluted net (loss) income applicable to common stockholders	$	(5,913)	$	19,227

Denominator:
Basic weighted average common shares outstanding		1,252,551		1,135,043
Effect of dilutive securities:
Warrant exercises		—		25,450
Preferred stock conversions		—		37,794
Diluted weighted average common shares outstanding		1,252,551		1,198,287

Basic (loss) income per share	$	(0.00)	$	0.02
Diluted (loss) income per share	$	(0.00)	$	0.02

The table below shows the approximate number of shares of common stock issuable upon the exercise, vesting, or conversion of outstanding options, PSUs, warrants, convertible notes, and convertible preferred stock (including undeclared dividends) that were not included in the computation of diluted weighted average number of shares of common stock outstanding for the periods presented:


	Three months ended August 31,
(in thousands)	2025	2024
Stock options, PSUs, and warrants	254,959	232,597
Convertible notes	12,000	12,000
Convertible preferred stock	40,761	—