Net Income Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2025

Net Income Per Share Attributable to Common Stockholders

Basic net income per share attributable to common stockholders is calculated by dividing net income attributable to common stockholders by the weighted-average shares outstanding during the period, without consideration for common stock equivalents. Diluted net income per share attributable to common stockholders is computed by dividing the net income by the weighted-average number of shares of common stock and common stock equivalents outstanding for the period. Common stock equivalents consist of common stock issuable upon (1) exercise of stock options and (2) vesting of restricted stock awards, restricted stock units and performance-based restricted stock units (collectively, “restricted stock”).

For the three months ended June 30, 2025 and 2024, respectively, there were 604 thousand and 215 thousand common stock equivalents outstanding in the form of stock options and 275 thousand and 2 thousand in unvested restricted stock, that have been excluded from the calculation of diluted net income per common share as their effect would be anti-dilutive.

For the six months ended June 30, 2025 and 2024, respectively, there were 520 thousand and 169 thousand common stock equivalents outstanding in the form of stock options and 89 thousand and 1 thousand in unvested restricted stock, that have each been excluded from the calculation of diluted net income per common share as their effect would be anti-dilutive.


	Three Months Ended June 30,				Six Months Ended
(in thousands, except per share data)	2025		2024		2025		2024
Numerator:
Net income	$	38,333	$	15,568	$	74,067	$	16,501
Denominator:
Weighted-average basic common shares	28,910		28,598		28,863		28,446
Dilutive effect of stock options and unvested restricted stock	839		1,039		956		1,058
Weighted-average diluted common shares	29,749		29,637		29,819		29,504

Net income per common share—basic	$	1.33	$	0.54	$	2.57	$	0.58
Net income per common share—diluted	$	1.29	$	0.53	$	2.48	$	0.56

Krystal Biotech, Inc. 10-Q