Sensei Biotherapeutics, Inc. Earnings Per Share Disclosure
14. NET LOSS PER SHARE
Basic and diluted net loss per share attributable to common stockholders is calculated as follows (in thousands except share and per share amounts):
|
|
Year Ended December 31, |
|
|||||
|
|
2024 |
|
|
2023 |
|
||
Net loss |
|
$ |
(30,157 |
) |
|
$ |
(34,101 |
) |
Net loss per share—basic and diluted |
|
$ |
(1.20 |
) |
|
$ |
(1.22 |
) |
Weighted-average number of shares used in computing net loss per share—basic and diluted |
|
|
25,117,238 |
|
|
|
27,952,857 |
|
The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:
|
For the Year Ended December 31, |
|
|||||
|
2024 |
|
|
2023 |
|
||
Stock options to purchase common stock |
|
5,295,812 |
|
|
|
3,419,306 |
|
Unvested restricted stock units |
|
83,441 |
|
|
|
232,958 |
|
Warrants issued to employees and contractor to purchase common stock |
|
4,610 |
|
|
|
56,692 |
|
Warrants issued related to convertible notes and other equity agreements |
|
412,262 |
|
|
|
412,262 |
|
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.