Comstock Inc. Earnings Per Share Disclosure
NOTE 19 NET INCOME (LOSS) PER COMMON SHARE
Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share reflects the potential dilution that could occur if outstanding stock options were exercised into common stock. Shares presented on a weighted average outstanding calculation were adjusted to give effect to the February 24, 2025 reverse stock split.
| December 31, 2025 | December 31, 2024 | |||||||
| Numerator: | ||||||||
| Net loss attributed to Comstock Inc. | $ | (43,076,443 | ) | $ | (53,321,454 | ) | ||
| Denominator: | ||||||||
| Basic weighted average shares outstanding | 36,707,660 | 16,613,755 | ||||||
| Incremental shares | — | — | ||||||
| Diluted weighted average shares outstanding | 36,707,660 | 16,613,755 | ||||||
| Net income (loss) per common shares: | ||||||||
| Basic EPS | $ | (1.17 | ) | $ | (3.21 | ) | ||
| Diluted EPS | $ | (1.17 | ) | $ | (3.21 | ) | ||
For the years ended December 31, 2025 and 2024, all common stock equivalent shares, including warrants to purchase common stock, are antidilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 24, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
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.