MoonLake Immunotherapeutics Earnings Per Share Disclosure
(in thousands, except share and per share data) | Year Ended December 31, 2025 | Year Ended December 31, 2024 | Year Ended December 31, 2023 | |||||||||||||||||
Numerator | ||||||||||||||||||||
Net loss attributable to controlling interests shareholders | $ | (227,318) | $ | (118,936) | $ | (36,007) | ||||||||||||||
Denominator | ||||||||||||||||||||
Total weighted average number of outstanding shares | 64,463,889 | 62,870,237 | 49,122,534 | |||||||||||||||||
Net loss per share – basic and diluted | $ | (3.53) | $ | (1.89) | $ | (0.73) | ||||||||||||||
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.