AvePoint, Inc. Earnings Per Share Disclosure
20. Net Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing total net income (loss) by the weighted average number of common shares outstanding for the period. In computing diluted net income (loss), the Company adjusts the denominator, subject to anti-dilution requirements, to include the dilution from potential shares of common stock resulting from outstanding share-based payment awards, warrants, and Company Earn-Outs. The Company applies the two-class method in calculating loss per share. The Company’s Sponsor Earn-Out Shares described in “Note 14 — Mezzanine Equity and Stockholders’ Equity” are considered participating securities and have no contractual obligation to shares in the loss of the Company. As such, the weighted-average impact of these shares is excluded from the calculation of loss per share below.
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| (in thousands, except | ||||||||||||
| per share amounts) | ||||||||||||
| Net income (loss) per share available to common stockholders, excluding sponsor earn-out stockholders | ||||||||||||
| Numerator: | ||||||||||||
| Net income (loss) | $ | 35,120 | $ | (29,142 | ) | $ | (21,501 | ) | ||||
| Net income (loss) attributable to noncontrolling interest | 321 | (52 | ) | 224 | ||||||||
| Total net income (loss) available to common stockholders | $ | 34,799 | $ | (29,090 | ) | $ | (21,725 | ) | ||||
| Denominator: | ||||||||||||
| Weighted average common shares outstanding | 207,587 | 183,721 | 182,257 | |||||||||
| Effect of dilutive securities | ||||||||||||
| Stock options | 15,426 | — | — | |||||||||
| RSUs | 5,044 | — | — | |||||||||
| Warrants | 1,236 | — | — | |||||||||
| Weighted average diluted shares | 229,293 | 183,721 | 182,257 | |||||||||
| Basic net income (loss) per share available to common stockholders, excluding sponsor earn-out stockholders | $ | 0.17 | $ | (0.16 | ) | $ | (0.12 | ) | ||||
| Diluted net income (loss) per share available to common shareholders, excluding sponsor earn-out shareholders | $ | 0.15 | $ | (0.16 | ) | $ | (0.12 | ) | ||||
To arrive at net income (loss) available to common stockholders, during the years ended December 31, 2025, 2024, and 2023, the Company deducted net income attributable to the noncontrolling interest in MaivenPoint.
AvePoint, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (continued)
The following table includes the total potentially dilutive securities for the years ended December 31, 2025, 2024 and 2023, which have been excluded from the computation of diluted net income (loss) per share as their effect is anti-dilutive:
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| (in thousands) | ||||||||||||
| Stock options | 80 | 23,280 | 27,192 | |||||||||
| RSUs | 7 | 9,660 | 10,703 | |||||||||
| Warrants | — | 14,815 | 17,905 | |||||||||
| Earn-out shares | — | — | 3,000 | |||||||||
| Total | 87 | 47,755 | 58,800 | |||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 29, 2024 | |
| 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.