RING ENERGY, INC. Earnings Per Share Disclosure
| For the years ended December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
| Net Income (Loss) | $ | (34,731,199) | $ | 67,470,314 | $ | 104,864,641 | ||||||||||||||
| Basic Weighted-Average Shares Outstanding | 204,984,223 | 197,937,683 | 190,589,143 | |||||||||||||||||
| Effect of dilutive securities: | ||||||||||||||||||||
| Stock options | — | — | — | |||||||||||||||||
| Restricted stock units | — | 1,695,791 | 1,292,582 | |||||||||||||||||
| Performance stock units | — | 603,867 | 438,818 | |||||||||||||||||
| Common warrants | — | 40,039 | 3,044,307 | |||||||||||||||||
| Diluted Weighted-Average Shares Outstanding | 204,984,223 | 200,277,380 | 195,364,850 | |||||||||||||||||
| Basic Earnings (Loss) per Share | $ | (0.17) | $ | 0.34 | $ | 0.55 | ||||||||||||||
| Diluted Earnings (Loss) per Share | $ | (0.17) | $ | 0.34 | $ | 0.54 | ||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
Anti-dilutive securities: | ||||||||||||||||||||
| Stock options to purchase common stock | 62,433 | 66,511 | 264,966 | |||||||||||||||||
| Unvested restricted stock units | 5,211,248 | 32,231 | 56,153 | |||||||||||||||||
| Unvested performance stock units | 2,822,081 | 1,260,595 | 1,445,804 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 4, 2026 | Showing above |
| 2024 | Mar 5, 2025 | |
| 2023 | Mar 7, 2024 | |
| 2022 | Mar 9, 2023 | |
| 2021 | Mar 16, 2022 | |
| 2020 | Mar 16, 2021 | |
| 2018 | Feb 28, 2019 | |
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.