enGene Therapeutics Inc. Earnings Per Share Disclosure
11. Net Loss Per Share
The following table sets forth the computation of the Company’s basic and diluted net loss per share for the periods presented, retrospectively restated to reflect the exchange of shares upon the close of the reverse recapitalization:
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Year Ended October 31, |
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2025 |
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2024 |
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Numerator: |
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Net loss attributable to common shareholders, basic and diluted |
$ |
117,302 |
|
|
$ |
55,142 |
|
Denominator: |
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|
|
|
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Weighted-average number of common shares used in net loss per share, basic and diluted |
|
51,119,479 |
|
|
|
37,782,346 |
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Net loss per common share, basic and diluted |
$ |
2.29 |
|
|
$ |
1.46 |
|
The Company excluded the following shares from the computation of diluted net loss per share attributable to common shareholders during the year ended October 31, 2025, and 2024 because including them would have had an anti-dilutive effect:
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Year Ended October 31, |
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2025 |
|
|
2024 |
|
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Warrants to purchase common shares |
|
8,511,968 |
|
|
|
8,511,968 |
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Options to purchase common shares |
|
9,033,298 |
|
|
|
6,034,512 |
|
Total |
|
17,545,266 |
|
|
|
14,546,480 |
|
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.