V2X, Inc. Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| (In thousands, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net income (loss) | $ | 77,882 | $ | 34,684 | $ | (22,573) | ||||||||||||||
| Weighted average common shares outstanding | 31,559 | 31,485 | 31,084 | |||||||||||||||||
| Add: Dilutive impact of stock options | 14 | 19 | — | |||||||||||||||||
| Add: Dilutive impact of restricted stock units and performance share units | 247 | 463 | — | |||||||||||||||||
| Diluted weighted average common shares outstanding | 31,820 | 31,967 | 31,084 | |||||||||||||||||
| Earnings (loss) per share | ||||||||||||||||||||
| Basic | $ | 2.47 | $ | 1.10 | $ | (0.73) | ||||||||||||||
| Diluted | $ | 2.45 | $ | 1.08 | $ | (0.73) | ||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | |||||||||||||||||
| Anti-dilutive restricted stock units and performance share units | 4 | 20 | 4 | |||||||||||||||||
| Total | 4 | 20 | 4 | |||||||||||||||||
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.