Nauticus Robotics, Inc. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||
| 2024 | 2023 | ||||||||||
| Numerator: | |||||||||||
| Net loss | $ | (134,906,649) | $ | (50,686,601) | |||||||
| Net loss attributable to Common Stockholders | $ | (134,906,649) | $ | (50,686,601) | |||||||
| Denominator: | |||||||||||
| Weighted average shares used to compute basic and diluted EPS | 3,673,197 | 1,137,318 | |||||||||
| Basic and diluted loss per share | $ | (36.73) | $ | (44.57) | |||||||
| Anti-dilutive securities excluded from shares outstanding: | |||||||||||
| Stock options | 19,439 | 83,646 | |||||||||
| Restricted and performance stock units | 317,064 | 65,888 | |||||||||
| Warrants | 545,419 | 1,209,007 | |||||||||
| Earnout shares | 208,333 | 208,333 | |||||||||
| Convertible debt | 2,865,933 | 138,100 | |||||||||
| Series A Convertible Preferred Stock | 34,179,512 | - | |||||||||
| Total | 38,135,700 | 1,704,974 | |||||||||
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.