Innovex International, Inc. Earnings Per Share Disclosure
NOTE 13. EARNINGS PER SHARE
Basic earnings per share of Company Common Stock is calculated by dividing the net income attributable to the Company during the period by the weighted average number of shares of Company Common Stock outstanding during the same period. Diluted earnings per share, if dilutive, includes the incremental effect of issuable shares from stock awards, as determined using the treasury stock method. Potentially dilutive shares are excluded from the computation of diluted income per share if they have an anti-dilutive effect in the period.
As a result of the Merger, as discussed in Note 1. Summary of Business, all historical per share data, number of shares and number of issuable shares from stock awards were retroactively adjusted by applying the Exchange Ratio to the Legacy Innovex basic and diluted weighted average number of shares. The following table summarizes the basic and diluted earnings per share calculations:
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Year Ended December 31, |
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(in thousands, except per share data) |
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2025 |
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2024 |
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2023 |
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Numerator: |
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Net income (in thousands) |
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$ |
83,298 |
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|
$ |
140,325 |
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$ |
73,926 |
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Denominator: |
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Basic weighted average number of shares outstanding |
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69,009,209 |
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49,727,093 |
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|
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30,928,647 |
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Dilutive effect of equity awards |
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|
372,203 |
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|
|
899,911 |
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|
|
1,409,871 |
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Diluted weighted average number of shares |
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|
69,381,412 |
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|
|
50,627,004 |
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|
|
32,338,518 |
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Income per share: |
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Basic |
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$ |
1.21 |
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$ |
2.82 |
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$ |
2.39 |
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Diluted |
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$ |
1.20 |
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$ |
2.77 |
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|
$ |
2.29 |
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Potentially dilutive shares excluded as anti-dilutive |
|
|
12,703 |
|
|
|
64,147 |
|
|
|
1,441,068 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 25, 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.