ESS Tech, Inc. Earnings Per Share Disclosure
| 2024 | 2023 | ||||||||||
| Numerator: | |||||||||||
| Net loss attributable to common stockholders | $ | (86,222) | $ | (77,578) | |||||||
| Denominator: | |||||||||||
| Weighted-average shares outstanding – basic and diluted | 11,773,596 | 10,663,909 | |||||||||
| Net loss per share – basic and diluted | $ | (7.32) | $ | (7.27) | |||||||
| 2024 | 2023 | ||||||||||
| Stock options | 151,288 | 173,226 | |||||||||
| RSUs | 1,123,890 | 877,365 | |||||||||
| Warrants | 1,943,403 | 1,943,403 | |||||||||
| Total | 3,218,581 | 2,993,994 | |||||||||
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.