Annual report pursuant to Section 13 and 15(d)

NET LOSS PER SHARE

v3.19.2
NET LOSS PER SHARE
12 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
NET LOSS PER SHARE
NOTE 10:
NET LOSS PER SHARE
Equity Instruments Outstanding
The Company has stock options, performance share units and restricted stock units granted under various stock incentive plans that, upon exercise and vesting, respectively, would increase shares outstanding. The Company had Convertible Notes, which were convertible at the option of the holders at any time prior to maturity into shares of Quantum common stock. During November 2017, the Company paid all outstanding principal and accrued interest on the Convertible Notes. The Company has also issued warrants to purchase shares of the Company’s stock that are related to the TCW Term Loan and the Senior Secured Term Loan as described within Note 5:
Long-term Debt
to the consolidated financial statements.
Net Loss per Share
The following table sets forth the computation of basic and diluted net loss per share, as adjusted for the Reverse Stock Split (in thousands, except per-share data):
 
   
For the year ended March 31,
 
   
2019
   
2018
   
2017

(As Restated)
 
Numerator:
                       
Net Loss
  $ (42,797   $ (43,346   $ (2,408
Denominator:
                       
Weighted average shares - basic and diluted
    35,551       34,687       33,742  
Basic net loss per share
  $ (1.20   $ (1.25   $ (0.07
Diluted net loss per share
  $ (1.20   $ (1.25   $ (0.07
The dilutive impact related to common shares from stock incentive plans and outstanding warrants is determined by applying the treasury stock method to the assumed vesting of outstanding performance share units and restricted stock units and the exercise of outstanding options and warrants. The dilutive impact related to common shares from contingently issuable performance share units is determined by applying a two-step approach using both the contingently issuable share guidance and the treasury stock method. The dilutive impact related to our convertible subordinated notes is determined by applying the if-converted method, which includes adding the related weighted average shares to the denominator and the related interest expense to net income.
For the years ended March 31, 2019, 2018 and 2017, respectively, 4,964,019, 1,913,423 and 6,823,603 shares related to performance share units, restricted stock units, warrants and convertible debt were excluded from the calculation of diluted net loss per share as these shares were anti-dilutive.
For the year ended March 31, 2017, interest expense related to the convertible subordinated notes of $3.5 million was excluded from the calculation of diluted net loss per share as the shares related to convertible subordinated notes were anti-dilutive.