Life Time Group Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income (Loss) Per Share

Income (Loss) Per Share

12 Months Ended

Dec. 31, 2023

For the year ended December 31, 2023, our potentially dilutive securities included stock options, restricted stock units, shares to be issued under our ESPP and contingently issuable shares related to our short-term incentive compensation program.

For the year ended December 31, 2022, our potentially dilutive securities included stock options, restricted stock units and shares to be issued under our ESPP. Due to the net loss that we recognized during the year ended December 31, 2022, the potentially dilutive shares of common stock associated with these equity-based securities were determined to be antidilutive and, therefore, are excluded from the computation of diluted loss per share for the year ended December 31, 2022.

For the year ended December 31, 2021, our potentially dilutive securities included stock options, restricted stock units and restricted stock. Due to the net loss that we recognized during the year ended December 31, 2021, the potentially dilutive shares of common stock associated with these equity-based securities were determined to be antidilutive and, therefore, are excluded from the computation of diluted loss per share for the year ended December 31, 2021.

The following table sets forth the calculation of basic and diluted income (loss) per share for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
Net income (loss)	$	76,063	$	(1,793)	$	(579,369)

Weighted-average common shares outstanding – basic	195,671		193,570		155,470
Dilutive effect of stock-based compensation awards	8,334		—		—
Weighted-average common shares outstanding – diluted	204,005		193,570		155,470

Income (loss) per common share – basic	$	0.39	$	(0.01)	$	(3.73)
Income (loss) per common share – diluted	$	0.37	$	(0.01)	$	(3.73)

The following is a summary of potential shares of common stock that were excluded from the computation of diluted income (loss) per share for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31,
	2023	2022	2021
Stock options	6,476	24,926	24,597
Restricted stock units	193	2,486	1,854
Restricted stock	—	—	595
ESPP shares	—	137	—
Potential common shares excluded from diluted income (loss) per share	6,669	27,549	27,046

For more information regarding stock options, restricted stock units, restricted stock and ESPP shares, see Note 10, Stockholders’ Equity.