Flywire Corp Earnings Per Share Disclosure
Note 15. Net Income (Loss) per Share
Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):
|
Year Ended December 31, |
|||||||
|
2025 |
|
2024 |
|
2023 |
|||
Numerator: |
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
13,497 |
|
$ |
2,900 |
|
$ |
(8,566) |
Net income (loss) attributable to common stockholders – basic and diluted |
$ |
13,497 |
|
$ |
2,900 |
|
$ |
(8,566) |
Denominator: |
|
|
|
|
|
|
|
|
Weighted average common shares outstanding – basic |
|
122,377,814 |
|
|
124,269,820 |
|
|
114,828,494 |
Effect of potentially dilutive stock options |
|
3,083,902 |
|
|
4,550,017 |
|
|
— |
Effect of potentially dilutive restricted common stock |
|
2,285,760 |
|
|
519,624 |
|
|
— |
Weighted average common shares outstanding – diluted |
|
127,747,476 |
|
|
129,339,462 |
|
|
114,828,494 |
Net income (loss) per share: |
|
|
|
|
|
|
|
|
Net income (loss) per share attributable to common stockholders – basic |
$ |
0.11 |
|
$ |
0.02 |
|
$ |
(0.07) |
Net income (loss) per share attributable to common stockholders – diluted |
$ |
0.11 |
|
$ |
0.02 |
|
$ |
(0.07) |
For periods in which the Company is in a loss position, basic net loss per share attributable to common stockholders is the same as diluted net loss per share attributable to common stockholders. Outstanding potentially dilutive securities, which were excluded from the diluted net income (loss) per share calculations because they would have been antidilutive were as follows as of the dates presented:
|
Year Ended December 31, |
|||||||
|
2025 |
|
2024 |
|
2023 |
|||
Unvested restricted stock units |
|
3,467,126 |
|
|
4,641,715 |
|
|
4,430,725 |
Stock options to purchase common stock |
|
1,388,199 |
|
|
841,927 |
|
|
8,107,861 |
|
|
4,855,325 |
|
|
5,483,642 |
|
|
12,538,586 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Mar 10, 2023 | |
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.