Tectonic Therapeutic, Inc. Earnings Per Share Disclosure
9. Net loss per share
The following table summarizes the computation of basic and diluted net loss per share:
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Numerator: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(74,151 |
) |
|
$ |
(57,982 |
) |
Denominator: |
|
|
|
|
|
|
||
Weighted-average common shares outstanding, basic and diluted |
|
|
18,322,533 |
|
|
|
8,490,171 |
|
Net loss per share, basic and diluted |
|
$ |
(4.05 |
) |
|
$ |
(6.83 |
) |
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:
|
|
As of December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Options to purchase common stock |
|
|
1,951,417 |
|
|
|
1,626,841 |
|
Unvested restricted stock units |
|
|
262,184 |
|
|
|
25,612 |
|
Total |
|
|
2,213,601 |
|
|
|
1,652,453 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 20, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 23, 2023 | |
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.