Vanda Pharmaceuticals Inc. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| (in thousands, except for share and per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
| Numerator: | |||||||||||||||||
Net income (loss) | $ | (220,474) | $ | (18,900) | $ | 2,509 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted average shares outstanding, basic | 58,930,157 | 58,149,087 | 57,380,975 | ||||||||||||||
| Effect of dilutive securities | — | — | 176,936 | ||||||||||||||
| Weighted average shares outstanding, diluted | 58,930,157 | 58,149,087 | 57,557,911 | ||||||||||||||
Net income (loss) per share, basic and diluted: | |||||||||||||||||
| Basic | $ | (3.74) | $ | (0.33) | $ | 0.04 | |||||||||||
| Diluted | $ | (3.74) | $ | (0.33) | $ | 0.04 | |||||||||||
Antidilutive securities excluded from calculations of diluted net income (loss) per share | 6,078,795 | 6,493,140 | 6,464,057 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 8, 2024 | |
| 2022 | Feb 9, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 11, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 15, 2018 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 12, 2016 | |
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.