| (Loss) Income per Share |
Note 7. (Loss) Income per Share
Basic (loss) income per share is computed by dividing the net (loss) income adjusted for preferred stock dividends by the weighted average number of common shares outstanding during the period. Diluted (loss) income per share includes the weighted average common shares outstanding and potentially dilutive common stock equivalents. Basic and diluted (loss) income per share for the three and six months ended November 30, 2024 were calculated as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended November 30, |
|
Six months ended November 30, |
(in thousands, except per share amounts) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
|
$ |
(4,768) |
|
$ |
(9,563) |
|
$ |
14,459 |
|
$ |
(21,134) |
Less: Accrued preferred stock dividends |
|
|
(369) |
|
|
(368) |
|
|
(741) |
|
|
(741) |
Net (loss) income applicable to common stockholders |
|
$ |
(5,137) |
|
$ |
(9,931) |
|
$ |
13,718 |
|
$ |
(21,875) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average common shares outstanding |
|
|
1,221,405 |
|
|
958,988 |
|
|
1,177,988 |
|
|
941,191 |
Effect of dilutive securities: |
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|
|
|
|
|
|
|
|
|
|
|
Warrant exercises |
|
|
— |
|
|
— |
|
|
26,205 |
|
|
— |
Diluted weighted average common shares outstanding |
|
|
1,221,405 |
|
|
958,988 |
|
|
1,204,193 |
|
|
941,191 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic (loss) income per share |
|
$ |
(0.00) |
|
$ |
(0.01) |
|
$ |
0.01 |
|
$ |
(0.02) |
Diluted (loss) income per share |
|
$ |
(0.00) |
|
$ |
(0.01) |
|
$ |
0.01 |
|
$ |
(0.02) |
The table below shows the approximate number of shares of common stock issuable upon the exercise, vesting, or conversion of outstanding options, warrants, convertible notes, and convertible preferred stock (including undeclared
dividends) that were not included in the computation of diluted weighted average number of shares of common stock outstanding for the periods presented:
|
|
|
|
|
|
Three and six months ended November 30, |
|
(in thousands) |
2024 |
|
2023 |
|
Stock options, warrants, and unvested restricted stock units |
240,898 |
|
312,956 |
|
Convertible notes |
12,000 |
|
12,000 |
|
Convertible preferred stock |
38,533 |
|
35,558 |
|
|