AVITA Medical, Inc. Earnings Per Share Disclosure
16. Loss per Share
The following is a reconciliation of the basic and diluted loss per share computations:
|
Year Ended |
|
||||
|
December 31, 2025 |
|
December 31, 2024 |
|
||
(in thousands, except per share amounts) |
|
|
|
|
||
Net loss |
$ |
(48,587 |
) |
$ |
(61,845 |
) |
Weighted-average common shares—outstanding, basic and diluted |
|
27,861 |
|
|
25,883 |
|
Net loss per common share, basic and diluted |
$ |
(1.74 |
) |
$ |
(2.39 |
) |
|
Year Ended |
|
||||
|
December 31, 2025 |
|
December 31, 2024 |
|
||
Anti-dilutive shares excluded from diluted net loss per common share: |
|
|
|
|
||
Stock options |
|
4,536,904 |
|
|
3,540,208 |
|
Restricted stock units |
|
67,048 |
|
|
117,196 |
|
ESPP |
|
59,910 |
|
|
81,675 |
|
Warrants |
|
554,841 |
|
|
409,661 |
|
The Company’s basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the relevant period. In accordance with ASC 710, shares of common stock held by the rabbi trust are excluded from the denominator in the basic and diluted net loss per common share calculations. As of December 31, 2025 and 2024 a
total of 135,493 and 127,270, shares of common stock were excluded, respectively. For details on shares of common stock held by the rabbi trust refer to Note 17 to the Consolidated Financial Statements. For the purposes of the calculation of diluted net loss per share, options to purchase common stock, restricted stock units and unvested shares of common stock issued upon the early exercise of stock options have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. Because the Company has reported a net loss for years-ended December 31, 2025 and 2024, diluted net loss per common share is the same as the basic net loss per share for those periods.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Aug 26, 2021 | |
| 2020 | Aug 27, 2020 | |
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.