ARROWHEAD PHARMACEUTICALS, INC. Earnings Per Share Disclosure
| Year Ended September 30, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
(in thousands, except per share amounts) | ||||||||||||||||||||
| Numerator: | ||||||||||||||||||||
| Net loss attributable to Arrowhead Pharmaceuticals, Inc. | $ | (1,631) | $ | (599,493) | $ | (205,275) | ||||||||||||||
| Denominator: | ||||||||||||||||||||
Weighted-average basic shares outstanding (1) | 133,758 | 119,784 | 106,750 | |||||||||||||||||
| Effect of dilutive securities | — | — | — | |||||||||||||||||
Weighted-average diluted shares outstanding (1) | 133,758 | 119,784 | 106,750 | |||||||||||||||||
| Basic net loss per share | $ | (0.01) | $ | (5.00) | $ | (1.92) | ||||||||||||||
| Diluted net loss per share | $ | (0.01) | $ | (5.00) | $ | (1.92) | ||||||||||||||
| Year Ended September 30, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
(in thousands) | ||||||||||||||||||||
| Options | 744 | 707 | 633 | |||||||||||||||||
| Restricted stock units | 4,276 | 4,030 | 3,420 | |||||||||||||||||
| Total | 5,020 | 4,737 | 4,053 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 25, 2025 | Showing above |
| 2024 | Nov 26, 2024 | |
| 2023 | Nov 29, 2023 | |
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.