DBV Technologies S.A.DBVT

DBV Technologies S.A. Earnings Per Share Disclosure

10-KFiled Mar 26, 20262 min read
Loss Per Share
The basic loss per share is calculated by dividing the net loss attributable to the shareholders of the Company by the weighted average number of ordinary shares outstanding during the course of the fiscal year. As the Company was in a loss position for the years ended December 31, 2025 and 2024, the diluted loss per share is equal to basic loss per share because the effects of potentially dilutive shares were anti-dilutive given the Company’s net loss.
The computations for basic and diluted loss per share were as follows (in thousands of U.S. Dollars except share and per share data):
December 31,
20252024
Net loss
(146,947)
(113,918)
Weighted average number of ordinary shares
139,574,259
96,995,379
Net loss per share attributable to ordinary shareholders, basic and diluted ($/share)(1.05)(1.17)
The following is a summary of the ordinary share equivalents which were excluded from the calculation of diluted net loss per share for the periods indicated in number of potential shares. This summary also gives an overview of all exercisable instruments generated by the company either through Financing or incentive programs for employees as described in Note 12.
December 31,
20252024
WarrantsShares * WarrantsShares *
Non-employee warrants107,008 107,008 244,693 244,693 
Employee warrants — 
Stock-options14,104,578 14,104,578 10,452,903 10,452,903 
Restricted stock units3,608,347 3,608,347 2,813,366 2,813,366 
Prefunded warrants137,991,871 202,972,492 22,266,331 22,266,331 
PFW 202213,116,331 13,116,331 22,266,331 22,266,331 
BSA from ABSA (March 20205 PIPE Financing)15,635,172 27,361,551 
PFW1 from PFW-BS-PFW (March 20205 PIPE Financing)38,234,712 38,234,712 
BS from PFW-BS-PFW (March 20205 PIPE Financing)35,348,260 61,859,455 
PFW2 (March 20205 PIPE Financing)35,657,396 62,400,443 
Total Shares
220,792,425 35,777,293 
* The equivalent in shares

Historical Timeline

Fiscal YearFiled
2025Mar 26, 2026Showing above
2024Apr 11, 2025
2022Mar 2, 2023
2021Mar 9, 2022
2020Mar 17, 2021

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 TaxesRevenueFair ValuePP&ELeasesSegmentsCommitmentsStock CompensationNew StandardsPay vs Performance