National Energy Services Reunited Corp.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 11, 2026
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9. EARNINGS PER SHARE
- EARNINGS PER SHARE
The following tables provide a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the three-month periods ended March 31, 2026, and March 31, 2025, respectively.
| Date | Transaction Detail | Change in Shares | Three-month period ended March 31, 2026, Weighted Average Ordinary Shares Outstanding |
|---|---|---|---|
| January 1, 2026 | Beginning Balance | 100,787,173 | |
| January 15, 2026 | Equity-classified Restricted Stock Issuance | 833 | 694 |
| January 30, 2026 | Equity-classified Restricted Stock Issuance | 7,332 | 4,888 |
| February 25, 2026 | Equity-classified Restricted Stock Issuance | 1,666 | 629 |
| March 13, 2026 | Equity-classified Restricted Stock Issuance | 250 | 50 |
| March 13, 2026 | Settlement of liability-classified share-based compensation | 50,001 | 10,001 |
| March 31, 2026 | Ending Balance | 100,803,435 |
| Date | Transaction Detail | Change in Shares | Three-month period ended March 31, 2025, Weighted Average Ordinary Shares Outstanding |
|---|---|---|---|
| January 1, 2025 | Beginning Balance | 96,045,856 | |
| January 6, 2025 | Settlement of liability-classified share-based compensation | 61,353 | 57,263 |
| February 17, 2025 | Equity-classified Restricted Stock Issuance | 666 | 311 |
| February 27, 2025 | Equity-classified Restricted Stock Issuance | 1,000 | 356 |
| March 17, 2025 | Equity-classified Restricted Stock Issuance | 12,430 | 1,934 |
| March 18, 2025 | Equity-classified Restricted Stock Issuance | 231,661 | 33,461 |
| March 31, 2025 | Ending Balance | 96,139,181 |
The following tables provide the computation of basic and diluted earnings per share (“EPS”) for the three-month periods ended March 31, 2026, and March 31, 2025, respectively.
| For the three-month period ended | ||||||
|---|---|---|---|---|---|---|
| March 31, 2026 | March 31, 2025 | |||||
| Net income to Ordinary Shareholders | Weighted-average ordinary shares outstanding | EPS | Net income to Ordinary Shareholders | Weighted-average ordinary shares outstanding | EPS | |
| Basic EPS - ordinary shares | $23,827 | 100,803,435 | $0.24 | $10,391 | 96,139,181 | $0.11 |
| Restricted stock units | - | 2,128,115 | (0.01) | - | 571,303 | (0.00) |
| Antidilution sequencing - subtotal | 23,827 | 102,931,550 | 0.23 | 10,391 | 96,710,484 | 0.11 |
| 35,540,380 warrants @ $5.75 per half share | - | - | - | - | - | - |
| Diluted EPS - ordinary shares | $23,827 | 102,931,550 | $0.23 | $10,391 | 96,710,484 | $0.11 |
Prior to the announcement of the exchange offer on May 30, 2025, potentially dilutive warrants had no impact on the determination of dilutive earnings per share as these potential ordinary shares were antidilutive for the three-month period ended March 31, 2025.
In addition to the warrants, the Company excluded 896,880 and 2,019,453 weighted-average restricted stock units from dilutive ordinary shares for the three-month periods ended March 31, 2026, and 2025, respectively, as they were assumed to be repurchased due to the impact of unrecognized share-based compensation cost.
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