Dare Bioscience, Inc. Earnings Per Share Disclosure
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3. |
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS |
The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company (in thousands, except share data and per share data):
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|
|
Years Ended December 31, |
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|
|
|
2016 |
|
|
2015 |
|
|
2014 |
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|
Net loss attributable to common stockholders — basic and diluted |
|
$ |
(39,305 |
) |
|
$ |
(39,594 |
) |
|
$ |
(23,342 |
) |
|
Weighted-average number of common shares — basic and diluted |
|
|
27,710,403 |
|
|
|
25,431,332 |
|
|
|
14,548,516 |
|
|
Net loss per share attributable to common stockholders — basic and diluted |
|
$ |
(1.42 |
) |
|
$ |
(1.56 |
) |
|
$ |
(1.60 |
) |
The Company has reported a net loss for all periods presented, therefore diluted net loss per common share is the same as basic net loss per common share.
The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact due to the losses reported (in common stock equivalent shares):
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|
As of December 31, |
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|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|||
|
Options to purchase common stock |
|
|
4,020,288 |
|
|
|
3,454,926 |
|
|
|
2,126,176 |
|
|
Warrants to purchase common stock |
|
|
365,564 |
|
|
|
300,564 |
|
|
|
128,663 |
|
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.