ARTIVION, INC. Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| Basic income (loss) per common share | 2025 | 2024 | 2023 | |||||||||||||||||
| Net income (loss) | $ | 9,768 | $ | (13,359) | $ | (30,690) | ||||||||||||||
| Net (income) loss allocated to participating securities | (11) | 24 | 123 | |||||||||||||||||
| Net income (loss) allocated to common stockholders | $ | 9,757 | $ | (13,335) | $ | (30,567) | ||||||||||||||
| Basic weighted-average common shares outstanding | 45,335 | 41,676 | 40,743 | |||||||||||||||||
| Basic income (loss) per common share | $ | 0.22 | $ | (0.32) | $ | (0.75) | ||||||||||||||
| Diluted income (loss) per common share | 2025 | 2024 | 2023 | |||||||||||||||||
| Net income (loss) | $ | 9,768 | $ | (13,359) | $ | (30,690) | ||||||||||||||
| Net (income) loss allocated to participating securities | (11) | 24 | 123 | |||||||||||||||||
| Net income (loss) allocated to common stockholders | $ | 9,757 | $ | (13,335) | $ | (30,567) | ||||||||||||||
| Basic weighted-average common shares outstanding | 45,335 | 41,676 | 40,743 | |||||||||||||||||
Effect of dilutive options and awards | 1,827 | — | — | |||||||||||||||||
| Diluted weighted-average common shares outstanding | 47,162 | 41,676 | 40,743 | |||||||||||||||||
| Diluted income (loss) per common share | $ | 0.21 | $ | (0.32) | $ | (0.75) | ||||||||||||||
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.