Net Loss Per Share

9 Months Ended

Dec. 31, 2019

Note 11. 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 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						Nine months ended
	December 31,						December 31,
	2019			2018			2019			2018
Numerator:
Net loss	$	(27,485	)	$	(26,254	)	$	(78,046	)	$	(78,792	)
Net loss available to ordinary shareholders - basic and diluted	$	(27,485	)	$	(26,254	)	$	(78,046	)	$	(78,792	)
Denominator:
Weighted-average shares outstanding - basic and diluted		73,768,845			56,619,356			68,722,475			51,512,352
Loss per share - basic and diluted	$	(0.37	)	$	(0.46	)	$	(1.14	)	$	(1.53	)

The following table sets out the numbers of ordinary shares excluded from the above computation of earnings per share at December 31, 2019 and December 31, 2018 as their inclusion would have been anti-dilutive:

	December 31, 2019		December 31, 2018
Ordinary shares issuable on exercise of options to purchase ordinary shares		1,859,979		2,241,223
Restricted share units awarded, including the multi-year performance related restricted share units		781,839		1,085,752
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 warrants at $0.01 per share		—		550,000
		2,817,343		4,052,500