Solid Biosciences Inc. Earnings Per Share Disclosure
13. Net Loss per Share
The following table sets forth the computation of the Company's basic and diluted net loss per share:
|
|
Year Ended |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Numerator: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(174,325 |
) |
|
$ |
(124,697 |
) |
Denominator: |
|
|
|
|
|
|
||
Shares used to compute net loss per share, basic and |
|
|
|
|
|
|
||
Weighted average shares of common stock |
|
|
72,768,275 |
|
|
|
38,178,327 |
|
Weighted average pre-funded warrants to |
|
|
14,736,356 |
|
|
|
2,638,367 |
|
Weighted average shares of common stock |
|
|
87,504,631 |
|
|
|
40,816,694 |
|
Net loss per share, basic and diluted |
|
$ |
(1.99 |
) |
|
$ |
(3.06 |
) |
Included within weighted average shares of common stock outstanding for the years ended December 31, 2025 and 2024 are 16,600,818 and 2,712,478 shares of common stock issuable upon the exercise of the pre-funded warrants, respectively. The pre-funded warrants are exercisable at any time for nominal consideration, and as such, the shares are considered outstanding for the purpose of calculating basic and diluted net loss per share.
The outstanding securities presented below were excluded from the calculation of net loss per share because the inclusion of such securities would have been anti-dilutive due to the Company’s net loss per share during the periods presented.
|
|
Year Ended |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Options to purchase common stock |
|
|
4,378,145 |
|
|
|
2,927,937 |
|
Nonvested restricted stock units |
|
|
3,809,777 |
|
|
|
1,480,272 |
|
Nonvested performance stock units |
|
|
2,074,188 |
|
|
|
2,165,325 |
|
Shares subject to employee stock purchase plan |
|
|
275,602 |
|
|
|
281,640 |
|
Warrants |
|
|
2,000 |
|
|
|
9,230 |
|
Total |
|
|
10,539,712 |
|
|
|
6,864,404 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 19, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 23, 2023 | |
| 2021 | Mar 14, 2022 | |
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.