U S GLOBAL INVESTORS INC Earnings Per Share Disclosure
NOTE 13. EARNINGS PER SHARE
The following table sets forth the computation for basic and diluted earnings per share (EPS):
| Year Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| (dollars in thousands, except per share data) | ||||||||
| Net Income (Loss) | $ | (334 | ) | $ | 1,333 | |||
| Weighted average number of outstanding shares | ||||||||
| Basic | 13,343,506 | 14,182,300 | ||||||
| Effect of dilutive securities | ||||||||
| Stock options | 1,121 | 53 | ||||||
| Diluted | 13,344,627 | 14,182,353 | ||||||
| Earnings (Loss) Per Share | ||||||||
| Basic Net Income (Loss) per Share | $ | (0.03 | ) | $ | 0.09 | |||
| Diluted Net Income (Loss) per Share | $ | (0.03 | ) | $ | 0.09 | |||
The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period. Employee stock options excluded from the calculation of diluted EPS totaled 329,100 for the year ended June 30, 2025, and 229,000 for the year ended June 30, 2024.
During fiscal years 2025 and 2024, the Company repurchased class A shares on the open market. Repurchased shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 8, 2025 | Showing above |
| 2024 | Sep 10, 2024 | |
| 2016 | Sep 14, 2016 | |
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.