Jasper Therapeutics, Inc. Earnings Per Share Disclosure
NOTE 11. NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Numerator: | ||||||||
| Net loss attributable to common stockholders | $ | (71,269 | ) | $ | (64,465 | ) | ||
| Denominator: | ||||||||
| Weighted average common shares outstanding | 14,661,468 | 10,551,290 | ||||||
| Less: Weighted-average unvested restricted shares | (7,256 | ) | ||||||
| Less: Shares subject to earnout | (76,598 | ) | (105,000 | ) | ||||
| Weighted average shares used to compute basic and diluted net loss per share | 14,584,870 | 10,439,034 | ||||||
| Net loss per share attributable to common stockholders – basic and diluted | $ | (4.89 | ) | $ | (6.18 | ) | ||
The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have had an antidilutive effect were as follows:
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Outstanding and issued common stock options | 1,628,378 | 1,040,875 | ||||||
| Shares issuable upon exercise of common stock warrants | 499,986 | 499,986 | ||||||
| Unvested performance-based restricted stock units | 20,000 | |||||||
| Total | 2,148,364 | 1,540,861 | ||||||
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.