Vir Biotechnology, Inc. Earnings Per Share Disclosure
| Years ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net loss attributable to Vir Bio | $ | (437,987) | $ | (521,960) | $ | (615,061) | |||||||||||
| Weighted-average shares outstanding, basic and diluted | 138,520,419 | 136,246,865 | 134,130,924 | ||||||||||||||
| Net loss per share attributable to Vir Bio, basic and diluted | $ | (3.16) | $ | (3.83) | $ | (4.59) | |||||||||||
| Years ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Options issued and outstanding | 8,634,511 | 9,605,591 | 11,124,181 | ||||||||||||||
| Restricted shares subject to future vesting | 5,690,008 | 4,981,082 | 5,260,229 | ||||||||||||||
| Total | 14,324,519 | 14,586,673 | 16,384,410 | ||||||||||||||
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.