FibroBiologics, Inc. Earnings Per Share Disclosure
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:
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|
For the Year Ended December 31, |
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(in thousands, except share and per share amounts) |
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2025 |
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|
2024 |
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Numerator: |
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|
|
|
|
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Net loss |
|
$ |
(18,646 |
) |
|
$ |
(11,161 |
) |
Denominator: |
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|
|
|
|
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||
Weighted-average number of common shares outstanding, basic and diluted |
|
|
44,660,518 |
|
|
|
32,875,075 |
|
Net loss per common share attributable to common stockholders, basic and diluted |
|
$ |
(0.42 |
) |
|
$ |
(0.34 |
) |
As further described in Note 8, during the year ended December 31, 2025, the Company issued 118,991 shares of Common Stock to satisfy the $250,000 commitment fee payable, and $11,600,000 of short-term convertible notes were converted into 18,070,124 shares of Common Stock. As further described in Note 6, the Company issued 13,244,889 shares of common stock in three registered direct offerings in November 2025 and December 2025. For the years ended December 31, 2025 and 2024, the Company reported net losses and, accordingly, other than 8,570,203 pre-funded warrants which were issued during the year ended December 31, 2025, potential common shares were not included since such inclusion would have been anti-dilutive. As a result, the Company’s basic and diluted net loss per share is the same in all periods presented.
The weighted average number of shares outstanding for the year ended December 31, 2024 is based upon the non-voting common stock shares issued on August 18, 2022, the conversion of all outstanding shares of non-voting common stock, Series B Preferred Stock and Series B-1 Preferred Stock into voting common stock upon completion of the Direct Listing on January 31, 2024, and the issuance of 2,593,650 shares of common stock to GEM Global Yield LLC SCS, or GEM, during the year ended December 31, 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Feb 29, 2024 | |
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.