| Earnings Per Share [Text Block] |
(22) Net Loss Per Share
Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding restricted stock-based awards, stock options, and shares issuable under the employee stock purchase plan using the treasury stock method.
The following sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):
| |
|
Fiscal 2024 |
|
|
Fiscal 2023 |
|
|
Fiscal 2022 |
|
| |
|
Successor |
|
|
Successor |
|
|
Successor |
|
|
Predecessor |
|
| |
|
From |
|
|
From |
|
|
From |
|
|
From |
|
| |
|
February 1, 2023 to |
|
|
February 1, 2022 to |
|
|
June 12, 2021 to |
|
|
February 1, 2021 to |
|
| |
|
January 31, 2024 |
|
|
January 31, 2023 |
|
|
January 31, 2022 |
|
|
June 11, 2021 |
|
| Net income (loss) from continuing operations |
|
$ |
(348,603 |
) |
|
$ |
(790,066 |
) |
|
$ |
(58,746 |
) |
|
$ |
(50,439 |
) |
| Net income (loss) from discontinued operations |
|
|
(682 |
) |
|
|
65,102 |
|
|
|
11,940 |
|
|
|
1,175 |
|
| Net income (loss) |
|
$ |
(349,285 |
) |
|
$ |
(724,964 |
) |
|
$ |
(46,806 |
) |
|
$ |
(49,264 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) per class (Predecessor only) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) for Class A - Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(48,421 |
) |
| Net income (loss) for Class A - Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,128 |
|
| Loss on modifications of terms of participation rights held by Class B shareholders and warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
| Net income (loss) attributable to Class A |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(47,293 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) for Class B - Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(2,018 |
) |
| Net income (loss) loss for Class B - Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
47 |
|
| Gain on modifications of terms of participation rights held by Class B shareholders and warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
| Net income (loss) attributable to Class B |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(1,971 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ordinary – Basic and diluted |
|
|
8,052 |
|
|
|
7,944 |
|
|
|
6,657 |
|
|
|
* |
|
| Class A – Basic and diluted (Predecessor) |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
|
3,840 |
|
| Class B – Basic and diluted (Predecessor) |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
|
160 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ordinary – Basic and diluted - Continuing operations |
|
$ |
(43.29 |
) |
|
$ |
(99.45 |
) |
|
$ |
(8.82 |
) |
|
|
* |
|
| Ordinary – Basic and diluted - Discontinued operations |
|
|
(0.09 |
) |
|
|
8.19 |
|
|
|
1.79 |
|
|
|
* |
|
| Ordinary – Basic and diluted |
|
$ |
(43.38 |
) |
|
$ |
(91.26 |
) |
|
$ |
(7.03 |
) |
|
|
* |
|
| Class A – Basic and diluted (Predecessor) - Continuing operations |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
$ |
(12.61 |
) |
| Class A – Basic and diluted (Predecessor) - Discontinued operations |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
|
0.29 |
|
| Class A – Basic and diluted (Predecessor) |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
$ |
(12.32 |
) |
| Class B – Basic and diluted (Predecessor) - Continuing operations |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
$ |
(12.61 |
) |
| Class B – Basic and diluted (Predecessor) - Discontinued operations |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
|
0.29 |
|
| Class B – Basic and diluted (Predecessor) |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
$ |
(12.32 |
) |
Warrants to purchase 35,294 common shares have been excluded from the Predecessor period since, for periods of losses, the impact would be anti-dilutive and, for periods of income, no shares would be added to diluted earnings per share under the treasury stock method as the strike price of these awards are above the fair market value of underlying shares for all periods presented.
During the fiscal years ended January 31, 2024 (Successor) and 2023 (Successor), the period from June 12, 2021 through January 31, 2022 (Successor), and the period from February 1, 2021 through June 11, 2021 (Predecessor), the Company incurred net losses and, therefore, the effect of the Company’s potentially dilutive securities was not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following contains share/unit totals with a potentially dilutive impact (in thousands):
| |
|
Fiscal 2024 |
|
|
Fiscal 2023 |
|
|
Fiscal 2022 |
|
| |
|
Successor |
|
|
Successor |
|
|
Successor |
|
|
Predecessor |
|
| |
|
From |
|
|
From |
|
|
From |
|
|
From |
|
| |
|
February 1, 2023 to |
|
|
February 1, 2022 to |
|
|
June 12, 2021 to |
|
|
February 1, 2021 to |
|
| |
|
January 31, 2024 |
|
|
January 31, 2023 |
|
|
January 31, 2022 |
|
|
June 11, 2021 |
|
| Common stock underlying warrants |
|
|
3,098 |
|
|
|
3,098 |
|
|
|
3,098 |
|
|
|
706 |
|
| Stock options |
|
|
89 |
|
|
|
116 |
|
|
|
141 |
|
|
|
— |
|
| RSUs |
|
|
919 |
|
|
|
721 |
|
|
|
328 |
|
|
|
— |
|
| Total |
|
|
4,106 |
|
|
|
3,935 |
|
|
|
3,567 |
|
|
|
706 |
|
|