Vor Biopharma Inc. Earnings Per Share Disclosure
14. Net Loss Per Share
The following table sets forth the computation of the Company’s basic and diluted net loss per share for the years ended December 31, 2024 and 2023:
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|
Year Ended December 31, |
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(in thousands, except share and per share amounts) |
|
2024 |
|
|
2023 |
|
||
Numerator: |
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|
|
|
|
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Net loss |
|
$ |
(116,914 |
) |
|
$ |
(117,863 |
) |
Denominator: |
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|
|
|
|
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||
Weighted-average number of common shares outstanding, basic and diluted |
|
|
68,705,639 |
|
|
|
67,191,973 |
|
Net loss per share, basic and diluted |
|
$ |
(1.70 |
) |
|
$ |
(1.75 |
) |
The Company’s potentially dilutive securities were stock options, unvested restricted stock, restricted stock units, and warrants. Based on the amounts outstanding at December 31, 2024 and 2023, the Company excluded the following potential common shares from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:
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As of December 31, |
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|
|
2024 |
|
|
2023 |
|
||
Options to purchase common stock |
|
|
9,145,149 |
|
|
|
8,290,077 |
|
Unvested restricted stock |
|
|
— |
|
|
|
10,299 |
|
Restricted stock units |
|
|
1,308,723 |
|
|
|
1,113,381 |
|
Warrants |
|
|
69,839,075 |
|
|
|
— |
|
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.