(Loss) Income Per Share
The basic and diluted (loss) income per share calculations were determined based on the following share data:
| | | | | | | | | | | | | | | | | | | | | |
| | | Year Ended December 31, |
| | | | | 2025 | | 2024 | | 2023 |
| Weighted average outstanding shares of Common Stock basic | | | | | 85,267,146 | | | 84,989,963 | | | 84,995,515 | |
| Restricted stock units, performance share units and options to purchase Common Stock | | | | | — | | | — | | | 878,520 | |
| Weighted average outstanding shares of Common Stock diluted | | | | | 85,267,146 | | | 84,989,963 | | | 85,874,035 | |
For the years ended December 31, 2025 and 2024, we had net losses from operations. As a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share as their inclusion would have been antidilutive.
The following table provides the securities that could potentially dilute basic earnings per share in the future but were not included in the computation of diluted income per share as their inclusion would be anti-dilutive:
| | | | | | | | | | | | | | | | | | | | | |
| | | Year Ended December 31, |
| | | | | 2025 | | 2024 | | 2023 |
| Common Stock options | | | | | 1,531,050 | | | 1,295,477 | | | 1,374,312 | |
| Restricted stock units | | | | | 1,664,921 | | | 1,033,944 | | | 66,882 | |
| Performance share units | | | | | 169,646 | | | 120,824 | | | 265,465 | |
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.