XCel Brands, Inc. Earnings Per Share Disclosure
9. Earnings Per Share
Shares used in calculating basic and diluted earnings per share are as follows:
|
|
|
Year Ended |
|
||
|
|
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December 31, |
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||
|
|
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2020 |
|
2019 |
|
|
Basic |
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19,117,460 |
|
18,857,657 |
|
|
Effect of exercise of warrants |
|
— |
|
— |
|
|
Effect of exercise of stock options |
|
— |
|
— |
|
|
Diluted |
|
19,117,460 |
|
18,857,657 |
|
As a result of the net loss presented for the Current Year and Prior Year, the Company calculated diluted earnings per share using basic weighted-average shares outstanding for such period, as utilizing diluted shares would be anti-dilutive to loss per share.
The computation of basic and diluted earnings per share excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:
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|
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Year Ended |
|
||
|
|
|
December 31, |
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||
|
|
|
2020 |
|
2019 |
|
|
Stock options and warrants |
|
7,759,190 |
|
7,802,440 |
|
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2020 | Apr 23, 2021 | Showing above |
| 2019 | Apr 14, 2020 | |
| 2018 | Apr 1, 2019 | |
| 2017 | Mar 30, 2018 | |
| 2016 | Mar 24, 2017 | |
| 2015 | Mar 17, 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.