Netcapital Inc. Earnings Per Share Disclosure
| Year
Ended April 30, 2025 | Year
Ended April 30, 2024 | |||||||
| Net loss attributable to common stockholders – basic | $ | (28,301,325 | ) | $ | (4,986,317 | ) | ||
| Adjustments to net loss | ||||||||
| Net loss attributable to common stockholders – diluted | $ | (28,301,325 | ) | $ | (4,986,317 | ) | ||
| Weighted average common shares outstanding - basic | 1,387,666 | 172,937 | ||||||
| Effect of dilutive securities | ||||||||
| Weighted average common shares outstanding – diluted | 1,387,666 | 172,937 | ||||||
| Loss per common share - basic | $ | (20.39 | ) | $ | (28.83 | ) | ||
| Loss per common share - diluted | $ | (20.39 | ) | $ | (28.83 | ) | ||
Outstanding vested warrants to purchase and shares of common stock are not included in the calculation of earnings per share for the years ended April 30, 2025 and 2024, respectively, because their effect is anti-dilutive.
Outstanding vested options to purchase and shares of common stock are not included in the calculation of earnings per share for the years ended April 30, 2025 and 2024, respectively, because their effect is anti-dilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 12, 2025 | Showing above |
| 2024 | Jul 29, 2024 | |
| 2023 | Jul 26, 2023 | |
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.