| (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 nine months ended February 28, 2025 and February 29, 2024 were calculated as follows:
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|
|
|
|
|
|
|
|
|
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|
|
Three months ended |
|
Nine months ended |
(in thousands, except per share amounts) |
|
February 28, 2025 |
|
February 29, 2024 |
|
February 28, 2025 |
|
February 29, 2024 |
Numerator: |
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|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
|
$ |
(4,758) |
|
$ |
(11,920) |
|
$ |
9,701 |
|
$ |
(33,054) |
Less: Accrued preferred stock dividends |
|
|
(365) |
|
|
(369) |
|
|
(1,106) |
|
|
(1,110) |
Net (loss) income applicable to common stockholders |
|
$ |
(5,123) |
|
$ |
(12,289) |
|
$ |
8,595 |
|
$ |
(34,164) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average common shares outstanding |
|
|
1,228,259 |
|
|
982,209 |
|
|
1,194,561 |
|
|
954,814 |
Effect of dilutive securities: |
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|
|
|
|
|
|
|
|
|
|
|
Warrant exercises |
|
|
— |
|
|
— |
|
|
30,352 |
|
|
— |
Option exercises |
|
|
— |
|
|
— |
|
|
625 |
|
|
— |
Diluted weighted average common shares outstanding |
|
|
1,228,259 |
|
|
982,209 |
|
|
1,225,538 |
|
|
954,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic (loss) income per share |
|
$ |
(0.00) |
|
$ |
(0.01) |
|
$ |
0.01 |
|
$ |
(0.04) |
Diluted (loss) income per share |
|
$ |
(0.00) |
|
$ |
(0.01) |
|
$ |
0.01 |
|
$ |
(0.04) |
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:
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|
|
|
|
|
Three and nine months ended |
|
(in thousands) |
February 28, 2025 |
|
February 29, 2024 |
|
Stock options, and warrants |
231,027 |
|
315,808 |
|
Convertible notes |
12,000 |
|
12,000 |
|
Convertible preferred stock |
39,265 |
|
36,298 |
|
|