AST SpaceMobile, Inc. Earnings Per Share Disclosure
Basic and diluted net loss per share attributable to the holders of Class A Common Stock is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of Class A Common Stock outstanding during the period.
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net loss per share of Class A Common Stock (in thousands, except share data):
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|
Year Ended December 31, |
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2024 |
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|
2023 |
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|
2022 |
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Numerator |
|
|
|
|
|
|
|
|
|
|||
Net loss before allocation to noncontrolling interest |
|
$ |
(526,330 |
) |
|
$ |
(222,677 |
) |
|
$ |
(103,113 |
) |
Net loss attributable to the noncontrolling interest |
|
|
(226,247 |
) |
|
|
(135,116 |
) |
|
|
(71,473 |
) |
Net loss attributable to common stockholders - basic and diluted |
|
$ |
(300,083 |
) |
|
$ |
(87,561 |
) |
|
$ |
(31,640 |
) |
Denominator |
|
|
|
|
|
|
|
|
|
|||
Weighted-average shares of Class A Common Stock outstanding - basic and diluted |
|
|
154,501,344 |
|
|
|
81,824,122 |
|
|
|
54,437,073 |
|
Net loss per share attributable to holders of Class A Common Stock - basic and diluted |
|
$ |
(1.94 |
) |
|
$ |
(1.07 |
) |
|
$ |
(0.58 |
) |
At December 31, 2024, the Company excluded from the calculation of diluted net loss per share 11,227,292 shares of Class B Common Stock, 78,163,078 shares of Class C Common Stock, 3,053,132 Private Placement Warrants, 12,759,263 shares of Class A Common Stock that may be issued pursuant to awards outstanding under the SpaceMobile 2019 Incentive Award Plan, the SpaceMobile 2020 Incentive Award Plan and the SpaceMobile 2024 Incentive Award Plan, and 25,732,053 shares of Class A Common Stock issuable upon conversion of the 2034 Convertible Notes (on an as-converted basis) as their effect would have been to reduce the net loss per share. Therefore, the weighted-average number of shares of Class A Common Stock outstanding used to calculate both basic and diluted net loss per share of Class A Common Stock is the same.
Shares of the Company’s Class B and Class C Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted loss per share of Class B and Class C Common Stock under the two-class method has not been presented.
On January 22, 2025, the Company notified the holders of the 2034 Convertible Notes that the Company is exercising its option to require all of such notes to be converted into shares of Class A Common Stock. See Note 15 Subsequent Events for further details.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 3, 2025 | Showing above |
| 2022 | Mar 31, 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.