Net Loss Per Share

3 Months Ended

Jun. 30, 2016

Note 10. 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), the warrants to acquire ordinary shares and the ordinary shares issuable upon vesting of the MRSUs and RSUs.

The following table sets forth the computation of basic and diluted earnings per ordinary share.

	Quarter ended
	June 30,
	2016			2015
Numerator:
Net loss	$	(16,235	)	$	(10,154	)
Net loss available to ordinary shareholders - basic and diluted	$	(16,235	)	$	(10,154	)
Denominator:
Weighted-average shares outstanding - basic and diluted		25,410,598			17,025,631
Loss per share - basic and diluted	$	(0.64	)	$	(0.60	)

The following table sets out the numbers of ordinary shares excluded from the above computation of earnings per share at June 30, 2016 and June 30, 2015 as their inclusion would have been anti-dilutive.

	June 30, 2016		June 30, 2015
Ordinary shares issuable on exercise of options to purchase ordinary shares		1,802,538		1,514,537
Restricted share units awarded, including the multi-year performance related restricted share units		579,495		197,000
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		—		3,933,865
Ordinary shares issuable on exercise of pre-funded warrants at $0.01 per share		850,000		850,000
		3,407,558		6,559,402