Stabilis Solutions, Inc. Earnings Per Share Disclosure
15. NET INCOME (LOSS) PER SHARE
The calculation of net income (loss) per common share for the years ended December 31, 2025 and 2024 are presented below. For the year ended December 31, 2025, there were no dilutive securities outstanding, as all RSUs were vested at December 31, 2025. Outstanding stock options of 331,931 that were vested and unexercised at December 31, 2025 were excluded, as the exercise price exceeded the market price at December 31, 2025. For the year ended December 31, 2024, dilutive securities consist of RSUs of 11,981, under the treasury method. At December 31, 2024, outstanding stock options that were vested and unexercised were excluded, as the exercise prices exceeded the market price at December 31, 2024. Stock appreciation rights ("SARS") of 658,437 were excluded at December 31, 2024, as the SARs expired unexercised on December 31, 2024.
| Year Ended | ||||||||
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Weighted average shares: | ||||||||
| Basic weighted average number of common shares outstanding | 18,595,086 | 18,583,485 | ||||||
| Dilutive securities | — | 11,981 | ||||||
| Total shares including dilutive securities | 18,595,086 | 18,595,466 | ||||||
| Net income (loss) | $ | (1,354 | ) | $ | 4,599 | |||
| Net income (loss) per common share: | ||||||||
| Basic and diluted per common share | $ | (0.07 | ) | $ | 0.25 | |||
| Weighted average number of common shares outstanding: | ||||||||
| Basic | 18,595,086 | 18,583,485 | ||||||
| Diluted | 18,595,086 | 18,595,466 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Mar 7, 2024 | |
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.