Net Loss Per Share

12 Months Ended

Mar. 31, 2021

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 or conversion of share options (using the treasury shares method), RSUs and warrants to acquire 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,
	2021			2020			2019
Numerator:
Net loss	$	(108,470	)	$	(102,773	)	$	(105,386	)
Net loss available to ordinary shareholders - basic and diluted	$	(108,470	)	$	(102,773	)	$	(105,386	)
Denominator:
Weighted-average shares outstanding - basic and diluted		91,637,966			71,610,035			54,874,391
Loss per share - basic and diluted	$	(1.18	)	$	(1.44	)	$	(1.92	)

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, 2021, March 31, 2020 and March 31, 2019, as their inclusion would have been anti-dilutive.

	March 31, 2021		March 31, 2020		March 31, 2019
Ordinary shares issuable on exercise of options to purchase ordinary shares		1,810,785		1,848,052		1,936,397
Restricted share units awarded		902,409		694,347		966,689
Ordinary shares issuable on exercise of warrants at $16.14 per share		111,525		111,525		111,525
Ordinary shares issuable on exercise of warrants at $9.375 per share		64,000		64,000		64,000
		2,888,719		2,717,924		3,078,611