Bandwidth Inc. Earnings Per Share Disclosure
| Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| (In thousands, except share and per share amounts) | |||||||||||||||||
| Earnings per share: | |||||||||||||||||
| Net loss attributable to common stockholders | $ | (12,912) | $ | (6,524) | $ | (16,343) | |||||||||||
| Net loss per share, basic and diluted | $ | (0.43) | $ | (0.24) | $ | (0.64) | |||||||||||
| Weighted average number of common shares outstanding, basic and diluted | 29,996,861 | 27,209,698 | 25,612,724 | ||||||||||||||
| Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Stock options issued and outstanding | 67,297 | 79,238 | 97,480 | ||||||||||||||
| Restricted stock units issued and outstanding | 6,400,636 | 5,195,945 | 5,911,794 | ||||||||||||||
| Convertible senior notes | 1,522,858 | 2,321,106 | 3,442,229 | ||||||||||||||
| Total | 7,990,791 | 7,596,289 | 9,451,503 | ||||||||||||||
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.