Borealis Foods Inc. Earnings Per Share Disclosure
10. Earnings per share
Basic earnings or loss per share is based on the weighted average number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, the number of shares outstanding has been adjusted for the dilutive effects of warrants.
| For Years Ended | ||||||||
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Basic (loss) per share calculation | ||||||||
| Net (loss) available to common shareholders | $ | (18,978,618 | ) | $ | (25,327,198 | ) | ||
| Weighted average common shares outstanding (basic) | 21,428,650 | 20,309,934 | ||||||
| Basic (loss) per share from net loss | $ | (0.89 | ) | $ | (1.25 | ) | ||
| Diluted (loss) per share calculation | ||||||||
| Net (loss) available to common shareholders | $ | (18,978,618 | ) | $ | (25,327,198 | ) | ||
| Weighted average common shares outstanding (basic) | 21,428,650 | 20,309,934 | ||||||
| Warrants | ||||||||
| Weighted average common shares outstanding (diluted) | 21,428,650 | 20,309,934 | ||||||
| Diluted (loss) per share from net loss * | $ | (0.89 | ) | $ | (1.25 | ) | ||
| * | In periods where the Company has incurred a net loss, diluted earnings per share is based on the number of common shares issued and outstanding as including the effects of warrants would be anti-dilutive. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jun 2, 2026 | Showing above |
| 2024 | Apr 15, 2025 | |
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.