Seer, Inc. Earnings Per Share Disclosure
The following table shows the computation of basic and diluted net loss per share (in thousands, except share and per share data):
|
|
Year Ended December 31, |
|
|||||
|
|
2024 |
|
|
2023 |
|
||
Numerator: |
|
|
|
|
|
|
||
Net loss attributable to Class A and Class B common stockholders |
|
$ |
(86,599 |
) |
|
$ |
(86,277 |
) |
Denominator: |
|
|
|
|
|
|
||
Weighted-average shares used in computing net loss per share |
|
|
62,348,012 |
|
|
|
63,850,490 |
|
Net loss per share attributable to Class A and Class B common |
|
$ |
(1.39 |
) |
|
$ |
(1.35 |
) |
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been anti-dilutive (on an as-converted basis):
|
|
December 31, |
|
|||||
|
|
2024 |
|
|
2023 |
|
||
Class A common stock options issued and outstanding |
|
|
13,198,232 |
|
|
|
11,945,032 |
|
Restricted common stock subject to future vesting |
|
|
— |
|
|
|
1,023 |
|
Restricted stock units |
|
|
4,450,441 |
|
|
|
3,680,076 |
|
Estimated ESPP shares to be issued |
|
|
121,348 |
|
|
|
254,385 |
|
Total |
|
|
17,770,021 |
|
|
|
15,880,516 |
|
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.