CORCEPT THERAPEUTICS INCCORT

CORCEPT THERAPEUTICS INC Earnings Per Share Disclosure

10-KFiled Feb 24, 20262 min read
Net Income Per Share
We compute our basic and diluted net income per share in conformity with the two-class method required for companies with participating shares. Under the two-class method, net income is determined by allocating net income between common stock and unvested RSAs. We compute basic net income per share by dividing our net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period. We compute diluted net income per share by dividing our net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, including potentially dilutive stock options and unvested RSUs, less unvested RSAs. We use the treasury stock method to determine the number of dilutive shares of common stock resulting from stock options and unvested RSUs.
The following table shows the computation of net income per share for each period:
Year Ended December 31,
202520242023
(in thousands, except per share data)
Numerator:
Net income attributable to common stockholders$98,171 $139,733 $105,496 
Denominator:
Weighted-average shares used to compute basic net income per common share103,862 103,232 103,560 
Dilutive effect of employee stock options and unvested RSUs16,125 10,248 8,182 
Weighted-average shares used to compute diluted net income per common share119,987 113,480 111,742 
Net income per share attributable to common stockholders
Basic$0.95 $1.35 $1.02 
Diluted$0.82 $1.23 $0.94 
We excluded from the computation of diluted net income per share, on a weighted-average basis, 2.3 million stock options outstanding during the year ended December 31, 2025, and 2.7 million and 9.1 million stock options outstanding during the years ended December 31, 2024 and 2023, respectively, because including them would have reduced dilution.

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 26, 2025
2023Feb 15, 2024
2022Feb 28, 2023
2021Feb 15, 2022
2020Feb 23, 2021
2019Feb 24, 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.

Other Available Disclosures

Income TaxesFair ValuePP&ELeasesDebtCommitmentsNew Standards