ZIFF DAVIS, INC. Earnings Per Share Disclosure
Years ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator for basic and diluted net income per common share: | |||||||||||||||||
| Net income from continuing operations | $ | 47,354 | $ | 63,047 | $ | 41,503 | |||||||||||
Less: Net income available to participating securities (1) | — | — | (2) | ||||||||||||||
Plus: Convertible Notes interest expense (after-tax) | — | — | — | ||||||||||||||
| Net income available to the Company’s common shareholders from continuing operations | $ | 47,354 | $ | 63,047 | $ | 41,501 | |||||||||||
| Denominator: | |||||||||||||||||
| Basic weighted-average outstanding shares of common stock | 40,977,183 | 44,457,071 | 46,400,941 | ||||||||||||||
| Diluted effect of: | |||||||||||||||||
Equity incentive plans | 121,331 | 62,622 | 63,320 | ||||||||||||||
Convertible debt | — | — | — | ||||||||||||||
| Diluted weighted-average outstanding shares of common stock | 41,098,514 | 44,519,693 | 46,464,261 | ||||||||||||||
Net income per share: | |||||||||||||||||
| Basic | $ | 1.16 | $ | 1.42 | $ | 0.89 | |||||||||||
| Diluted | $ | 1.15 | $ | 1.42 | $ | 0.89 | |||||||||||
| Weighted-average shares excluded from diluted weighted-average shares outstanding: | |||||||||||||||||
| Anti-dilutive stock options and restricted stock | 796,753 | 1,069,443 | 629,807 | ||||||||||||||
| Anti-dilutive convertible debt | 4,029,861 | 4,892,773 | 5,158,071 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Mar 15, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 29, 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.