Xos, Inc. Earnings Per Share Disclosure
| December 31, 2024 | December 31, 2023 | |||||||||||||
Numerator: | ||||||||||||||
Net loss | $ | (50,159) | $ | (75,843) | ||||||||||
| Net loss income attributable to common stockholders, basic | (50,159) | (75,843) | ||||||||||||
Net loss income attributable to common stockholders, diluted (1) | (50,159) | (75,843) | ||||||||||||
Denominator: | ||||||||||||||
Basic(2) | ||||||||||||||
Weighted average common shares outstanding, basic | 7,500 | 5,787 | ||||||||||||
Basic net loss per share | $ | (6.69) | $ | (13.11) | ||||||||||
Diluted(2) | ||||||||||||||
Weighted average common shares outstanding, diluted (1) | 7,500 | 5,787 | ||||||||||||
Diluted net loss per share | $ | (6.69) | $ | (13.11) | ||||||||||
| December 31, 2024 | December 31, 2023 | |||||||||||||
Contingent earn-out shares | 547 | 547 | ||||||||||||
Common stock public and private warrants | 628 | 628 | ||||||||||||
| Restricted stock units | 1,531 | 603 | ||||||||||||
| Stock options | 2 | 23 | ||||||||||||
| If-converted common stock from convertible debt | 280 | 280 | ||||||||||||
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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.