Akebia Therapeutics, Inc. Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Warrants | 2,115,385 | 3,076,923 | — | ||||||||||||||
Outstanding common stock options | 17,516,945 | 16,049,012 | 12,690,624 | ||||||||||||||
| Unvested restricted stock units | 6,323,229 | 5,429,790 | 3,930,167 | ||||||||||||||
Stock appreciation rights | 635,313 | 635,313 | 635,313 | ||||||||||||||
| Total | 26,590,872 | 25,191,038 | 17,256,104 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 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.