AEye, Inc. Earnings Per Share Disclosure
| 14. | NET LOSS PER SHARE |
The following table sets forth the basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except per share data):
| Year ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Numerator: | ||||||||
| Net loss attributable to common stockholders | $ | (35,460 | ) | $ | (87,126 | ) | ||
| Denominator: | ||||||||
| Weighted average common shares outstanding- Basic | 7,253,683 | 5,827,721 | ||||||
| Dilutive effect of potential common shares | — | — | ||||||
| Weighted average common shares outstanding- Diluted | 7,253,683 | 5,827,721 | ||||||
| Net loss per share attributable to common stockholders - Basic and Diluted | $ | (4.89 | ) | $ | (14.95 | ) | ||
Due to net losses for the years ended December 31, 2024 and 2023, basic and diluted net loss per share were the same, as the effect of all potentially dilutive securities would have been anti-dilutive. The following table sets forth the anti-dilutive common share equivalents for the periods listed:
| Year ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Common stock options issued and outstanding | 139,320 | 289,015 | ||||||
| Unvested restricted stock units | 384,783 | 652,453 | ||||||
| Warrants | 319,443 | 319,443 | ||||||
| Common Stock Purchase Agreements | 23,675,174 | — | ||||||
| Conversion of convertible notes | 119,582 | — | ||||||
| ESPP | 37,882 | 23,816 | ||||||
| Total | 24,676,184 | 1,284,727 | ||||||
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.