NOTE 7 - EARNINGS (LOSS) PER SHARE

As of December 27, 2025, we have 597,768,015 Class B shares, all held by Intel, and 216,980,847 Class A shares out of which 50,000,000 shares are held by Intel, both of which are utilized for the calculation of basic and diluted EPS. The outstanding Class A shares also include shares issued upon vesting of outstanding RSUs, see Note 6 Equity.

For the years ended December 27, 2025, December 28, 2024 and December 30, 2023, the computation of diluted earnings (loss) per share attributable to common stockholders does not include 27.5 million, 18.1 million and 5.9 million potential common shares, respectively, related to restricted stock units granted under the 2022 Plan to the Company’s employees, as the effect of their inclusion would have been anti-dilutive.

The following table summarizes the calculation of basic and diluted earnings (loss) per share for the periods presented:

Year ended

December 27,

December 28,

December 30,

In millions, except per share amounts

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Numerator:

 

 

  ​

 

  ​

Net income (loss)

 

$

(392)

 

$

(3,090)

 

$

(27)

Denominator:

 

  ​

 

  ​

 

  ​

Weighted average common shares - basic and diluted

 

813

 

809

 

805

Earnings (loss) per share:

Basic and diluted

$

(0.48)

$

(3.82)

$

(0.03)

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 13, 2025

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.