Net Loss Per Share

12 Months Ended

Mar. 31, 2016

Note 12. Net Loss Per Share

In accordance with ASC 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), RSUs (including MRSUs) and warrants to acquire ordinary shares and, for the period prior to March 31, 2014, the preference shares in existence at that time which were potentially convertible into ordinary shares.

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,
	2016			2015			2014
Numerator:
Net loss	$	(33,878	)	$	(59,059	)	$	(10,165	)
Net loss available to ordinary shareholders - basic and diluted	$	(33,878	)	$	(59,059	)	$	(10,165	)
Denominator:
Weighted-average shares outstanding - basic and diluted		19,558,152			14,773,386			186,817
Loss per share - basic and diluted	$	(1.73	)	$	(4.00	)	$	(54.41	)

The following sets out the numbers of the options, RSUs (including MRSUs), warrants to purchase ordinary shares and convertible preference shares excluded from the above computation of earnings per share for the years ended March 31, 2016, March 31, 2015 and March 31, 2014, as their inclusion would have been anti-dilutive.

	March 31, 2016		March 31, 2015		March 31, 2014
Ordinary shares issuable on exercise of options to purchase ordinary shares		1,589,938		1,208,118		779,462
Restricted share units awarded, including the multi-year performance related restricted share units		237,695		—		—
Ordinary shares issuable on exercise of warrants at $16.14 per share		111,525		—		—
Ordinary shares issuable on exercise of warrants at $9.37 per share		64,000		64,000		—
Ordinary shares issuable on exercise of warrants at $8.80 per share		—		3,937,894		—
Ordinary shares issuable on exercise of pre-funded warrants at $0.01 per share		850,000		850,000		—
Ordinary shares issuable on conversion of A Preference shares		—		—		4,070,385
Ordinary shares issuable on conversion of B Preference shares		—		—		4,666,690
Ordinary shares issuable on conversion of C Preference shares		—		—		297,333
		2,853,158		6,060,012		9,813,870