EARNINGS PER SHARE

6 Months Ended

Jun. 29, 2025

The following table sets forth the calculation of basic and diluted earnings per share:


	For the thirteen weeks ended				For the twenty-six weeks ended
	June 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024
Numerator:
Net income	$	10,863	$	17,105	$	13,680	$	20,835
Denominator:
Weighted average common shares outstanding - basic	119,162,895		118,470,358		119,005,954		118,171,093
Dilutive effect of potential common shares from RSUs	346,941		790,878		462,500		1,110,038
Dilutive effect of potential common shares from PSUs	280,789		—		208,230		102,151
Weighted average common shares outstanding - diluted	119,790,625		119,261,236		119,676,684		119,383,282
Earnings per share:
Basic	$	0.09	$	0.14	$	0.11	$	0.18
Diluted	$	0.09	$	0.14	$	0.11	$	0.17

The following outstanding shares of Common Stock equivalents were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive. Warrants to purchase shares of Common Stock having an exercise price greater than the average share market price are excluded from the calculation of diluted earnings per share.


	For the thirteen weeks ended		For the twenty-six weeks ended
	June 29, 2025	June 30, 2024	June 29, 2025	June 30, 2024
Anti-dilutive shares excluded from calculation of diluted EPS:
Warrants	14,633,311	14,633,311	14,633,311	14,633,311
Stock options	437,268	454,064	437,268	454,064
Restricted stock units	2,058,769	1,685,423	2,058,769	1,685,423
Performance stock units	2,264,503	2,133,100	2,264,503	2,133,100
Unvested Earn-Out Shares	1,093,750	1,093,750	1,093,750	1,093,750
Total anti-dilutive shares	20,487,601	19,999,648	20,487,601	19,999,648

Holley Inc. 10-Q