Axogen, Inc. Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| (in thousands, except share and per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
| Numerator: | |||||||||||||||||
| Net loss | $ | (15,703) | $ | (9,964) | $ | (21,716) | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted average common shares outstanding — basic and diluted | 46,050,266 | 44,257,754 | 42,878,543 | ||||||||||||||
| Net loss per common share — basic and diluted | $ | (0.34) | $ | (0.23) | $ | (0.51) | |||||||||||
Anti-dilutive shares excluded from the calculation of diluted earnings per share (1) | |||||||||||||||||
| Stock options | 1,157,870 | 167,570 | 3,929 | ||||||||||||||
| Restricted and performance stock units | 2,604,050 | 1,770,253 | 733,012 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Mar 5, 2024 | |
| 2022 | Mar 14, 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.