Quarterly report pursuant to Section 13 or 15(d)

(Loss) Income per Share

v3.24.4
(Loss) Income per Share
6 Months Ended
Nov. 30, 2024
(Loss) Income per Share  
(Loss) Income per Share

Note 7. (Loss) Income per Share

Basic (loss) income per share is computed by dividing the net (loss) income adjusted for preferred stock dividends by the weighted average number of common shares outstanding during the period. Diluted (loss) income per share includes the weighted average common shares outstanding and potentially dilutive common stock equivalents. Basic and diluted (loss) income per share for the three and six months ended November 30, 2024 were calculated as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended November 30,

​

Six months ended November 30,

(in thousands, except per share amounts)

​

2024

    

2023

​

2024

​

2023

Numerator:

​

​

​

​

​

​

​

​

​

​

​

​

Net (loss) income

​

$

(4,768)

​

$

(9,563)

​

$

14,459

​

$

(21,134)

Less: Accrued preferred stock dividends

​

​

(369)

​

​

(368)

​

​

(741)

​

​

(741)

Net (loss) income applicable to common stockholders

​

$

(5,137)

​

$

(9,931)

​

$

13,718

​

$

(21,875)

Denominator:

​

​

​

​

​

​

​

​

​

​

​

​

Basic weighted average common shares outstanding

​

​

1,221,405

​

​

958,988

​

​

1,177,988

​

​

941,191

Effect of dilutive securities:

​

​

​

​

​

​

​

​

​

​

​

​

Warrant exercises

​

​

—

​

​

—

​

​

26,205

​

​

—

Diluted weighted average common shares outstanding

​

​

1,221,405

​

​

958,988

​

​

1,204,193

​

​

941,191

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic (loss) income per share

​

$

(0.00)

​

$

(0.01)

​

$

0.01

​

$

(0.02)

Diluted (loss) income per share

​

$

(0.00)

​

$

(0.01)

​

$

0.01

​

$

(0.02)

​

The table below shows the approximate number of shares of common stock issuable upon the exercise, vesting, or conversion of outstanding options, warrants, convertible notes, and convertible preferred stock (including undeclared

dividends) that were not included in the computation of diluted weighted average number of shares of common stock outstanding for the periods presented:

​

​

​

​

​

​

​

Three and six months ended November 30,

​

(in thousands)

2024

    

2023

​

Stock options, warrants, and unvested restricted stock units

240,898

​

312,956

​

Convertible notes

12,000

​

12,000

​

Convertible preferred stock

38,533

​

35,558

​

​