Net Loss Per Share

12 Months Ended

Mar. 31, 2022

Note 12. Net Loss Per Share

In accordance with Accounting Standards Codification Topic 260 "Earnings Per Share", basic earnings available to ordinary shareholders per share is computed based on the weighted average number of ordinary shares outstanding during each period. Diluted earnings available to ordinary shareholders per share is computed based on the weighted average number of ordinary shares outstanding during each period, plus potential ordinary shares considered outstanding during the period, as long as the inclusion of such shares is not anti-dilutive. Potential ordinary shares consist of the incremental ordinary shares issuable upon the exercise of share options (using the treasury shares method), the warrants to acquire ordinary shares, the ordinary shares issuable upon vesting of the RSUs, and the ordinary shares issuable on conversion of Convertible Notes.

The following table sets forth the computation of basic loss per ordinary share. Diluted earnings per share figures are not applicable due to losses.


	Year ended
	March 31,
	2022			2021
Numerator:
Net loss available to ordinary shareholders - basic and diluted	$	(125,130	)	$	(111,032	)
Denominator:
Weighted-average shares outstanding - basic and diluted		101,910,562			91,637,966
Loss per share - basic and diluted	$	(1.23	)	$	(1.21	)

The following sets out the numbers of the options, RSUs and warrants to purchase ordinary shares excluded from the above computation of earnings per share for the years ended March 31, 2022 and March 31, 2021, as their inclusion would have been anti-dilutive.


	March 31, 2022		March 31, 2021
Ordinary shares issuable on conversion of Convertible Notes at $5.67 per share		18,518,514		-
Restricted share units awarded		3,517,558		902,409
Ordinary shares issuable on exercise of options to purchase ordinary shares		2,850,548		1,810,785
Ordinary shares issuable on exercise of warrants at $16.14 per share		111,525		111,525
Ordinary shares issuable on exercise of warrants at $9.375 per share		64,000		64,000
Ordinary shares issuable on exercise of Consent Warrants at $4.00 per share		1,844,020		-
Consent Shares not yet issued		64,330		-
Total		26,970,495		2,888,719