REPUBLIC AIRWAYS HOLDINGS INC. Earnings Per Share Disclosure
10. Loss Per Share
Calculations of net loss per common share were as follows (in thousands, except per share data):
|
|
Year Ended September 30, |
|
|||||||||
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|||
Net loss |
|
$ |
(91,015 |
) |
|
$ |
(120,116 |
) |
|
$ |
(182,678 |
) |
Basic weighted average common |
|
|
41,137 |
|
|
|
39,465 |
|
|
|
36,133 |
|
Diluted weighted average common |
|
|
41,137 |
|
|
|
39,465 |
|
|
|
36,133 |
|
Net loss per common share |
|
|
|
|
|
|
|
|
|
|||
Basic |
|
$ |
(2.21 |
) |
|
$ |
(3.04 |
) |
|
$ |
(5.06 |
) |
Diluted |
|
$ |
(2.21 |
) |
|
$ |
(3.04 |
) |
|
$ |
(5.06 |
) |
Basic loss per common share is computed by dividing net loss attributable to Mesa Air Group by the weighted average number of common shares outstanding during the period.
The number of incremental shares from the assumed issuance of shares relating to restricted stock and exercise of warrants (excluding warrants with a nominal conversion price) is calculated by applying the treasury stock method. Share-based awards and warrants whose impact is considered to be anti-dilutive under the treasury stock method were excluded from the diluted net loss per share calculation. In loss periods, these incremental shares are excluded from the calculation of diluted loss per share, as the inclusion of unvested restricted stock and warrants would have an anti-dilutive effect.
The following number of weighted-average potentially dilutive shares (in thousands) were excluded from the calculation of diluted net loss per share because the effect of including such potentially dilutive shares would have been anti-dilutive:
|
|
Year Ended September 30, |
|
|||||||||
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|||
Warrants |
|
|
— |
|
|
|
— |
|
|
|
758 |
|
Restricted stock |
|
|
— |
|
|
|
— |
|
|
|
106 |
|
|
|
|
— |
|
|
|
— |
|
|
|
864 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | May 14, 2025 | Showing above |
| 2023 | Jan 26, 2024 | |
| 2022 | Dec 29, 2022 | |
| 2021 | Dec 10, 2021 | |
| 2020 | Dec 14, 2020 | |
| 2019 | Dec 17, 2019 | |
| 2018 | Dec 20, 2018 | |
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.