| Net Loss Per Share |
(19) 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 tables set forth the computation of basic and diluted earnings per share (in thousands, except number of shares and per share data):
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Quarter-to date results |
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Fiscal 2022 |
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Fiscal 2021 |
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Successor |
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Predecessor (SLH) |
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Predecessor (PL) |
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From |
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From |
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Three months |
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August 28, 2021 |
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August 1, 2020 |
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ended October 31, |
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to October 31, |
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to August 27, |
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31, 2021 |
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2020 |
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2020 |
Net loss |
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$ |
(42,855) |
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(38,714) |
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3,268,895 |
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Weighted average common shares outstanding: |
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Ordinary – Basic and Diluted (Predecessor (PL)) |
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* |
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* |
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100.1 |
Class A and B – Basic and Diluted (Predecessor (SLH)) |
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* |
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4,000 |
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* |
Ordinary – Basic and Diluted (Successor) |
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133,116 |
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* |
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* |
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Net loss per share: |
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Ordinary – Basic and Diluted (Predecessor (PL)) |
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* |
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* |
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$ |
32,656.29 |
Class A and B – Basic and Diluted (Predecessor (SLH)) |
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* |
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$ |
(9.68) |
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* |
Ordinary – Basic and Diluted (Successor) |
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$ |
(0.32) |
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* |
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* |
* Not Applicable
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Year-to date results |
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Fiscal 2022 |
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Fiscal 2021 |
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Successor |
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Predecessor (SLH) |
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Predecessor (SLH) |
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Predecessor (PL) |
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From |
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From |
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From |
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From |
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June 12, 2021 |
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February 1, 2021 |
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August 27, 2020 |
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February 1, 2020 |
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to October 31, |
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to June 11, |
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to October 31, |
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to August 27, |
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2021 |
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2021 |
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2020 |
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2020 |
Net loss |
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$ |
(54,708) |
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(49,264) |
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(38,714) |
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2,764,012 |
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Weighted average common shares outstanding: |
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Ordinary – Basic and Diluted (Predecessor (PL)) |
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* |
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* |
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* |
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100.1 |
Class A and B – Basic and Diluted (Predecessor (SLH)) |
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* |
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4,000 |
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4,000 |
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* |
Ordinary – Basic and Diluted (Successor) |
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133,096 |
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* |
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* |
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* |
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Net loss per share: |
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Ordinary – Basic and Diluted (Predecessor (PL)) |
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* |
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* |
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* |
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$ |
27,612.51 |
Class A and B – Basic and Diluted (Predecessor (SLH)) |
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* |
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$ |
(12.32) |
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$ |
(9.68) |
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* |
Ordinary – Basic and Diluted (Successor) |
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$ |
(0.41) |
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* |
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* |
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* |
* Not Applicable
During the three months ended October 31, 2021 (Successor) and the period from June 12, 2021 to October 31, 2021 (Successor), 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 table contains share/unit totals with a potentially dilutive impact (in thousands):
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Successor |
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Predecessor (SLH) |
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Warrants to purchase common shares |
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61,967 |
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706 |
Stock Options |
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2,826 |
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— |
RSU’s |
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5,341 |
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— |
Total |
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70,134 |
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706 |
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