Immuneering Corp Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||
| 2024 | 2023 | ||||||||||
| Numerator: | |||||||||||
| Net loss | $ | (61,036,608) | $ | (53,471,622) | |||||||
| Denominator - basic and diluted: | |||||||||||
| Weighted-average common shares outstanding, basic and diluted | 29,981,565 | 28,416,558 | |||||||||
| Net loss per share - basic and diluted | $ | (2.04) | $ | (1.88) | |||||||
| 2024 | 2023 | ||||||||||
| Options to purchase common stock | 6,382,149 | 5,496,397 | |||||||||
| Total shares of common stock equivalents | 6,382,149 | 5,496,397 | |||||||||
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.