Vericel Corp Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| (Amounts in thousands, except per share amounts) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net income (loss) | $ | 16,518 | $ | 10,362 | $ | (3,182) | ||||||||||||||
| Basic weighted-average common shares outstanding | 50,340 | 48,848 | 47,590 | |||||||||||||||||
| Effect of dilutive stock options and restricted stock units | 1,811 | 2,831 | — | |||||||||||||||||
| Diluted weighted-average common shares outstanding | 52,151 | 51,679 | 47,590 | |||||||||||||||||
| Basic income (loss) per common share | $ | 0.33 | $ | 0.21 | $ | (0.07) | ||||||||||||||
| Diluted income (loss) per common share | $ | 0.32 | $ | 0.20 | $ | (0.07) | ||||||||||||||
| Anti-dilutive shares excluded from diluted net income (loss) per common share: | ||||||||||||||||||||
| Stock options | 2,527 | 1,887 | 6,717 | |||||||||||||||||
| Restricted stock units | 410 | 23 | 931 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 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.