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Earnings Per Share
 9 Months Ended
Feb. 28, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic net income (loss) per share (“EPS”) of common stock is computed by dividing a company’s net earnings (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if the securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.
Potentially dilutive securities are excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive. The table below shows the calculation for earnings per share:
Three Months EndedNine Months Ended
February 28, 2025February 29, 2024February 28, 2025February 29, 2024
Net loss$(35,555)$(62,838)$(178,528)$(85,221)
Net loss attributable to noncontrolling interest— — — (397)
Preferred dividends
(540)— (1,213)— 
Net loss attributable to common stockholders$(36,095)$(62,838)$(179,741)$(84,824)
Basic and diluted net loss per share attributable to common stockholders$(0.16)$(0.52)$(0.93)$(0.77)
Basic and diluted weighted average number of shares outstanding222,454,578 121,426,622 193,405,721 110,500,556 
As of February 28, 2025 and February 29, 2024, the Company had approximately 10.9 million and 11.9 million shares, respectively, of granted but unvested restricted stock, performance stock, and restricted stock units that would have a potentially dilutive effect on earnings per share.
As of February 28, 2025, the Company had approximately 5.9 million shares associated with the Company’s preferred stock which have been excluded from the calculation of earnings per share because the effect of those shares would be antidilutive. Additionally, the Company had approximately 4.0 million warrants outstanding as of February 28, 2025, which have been excluded from the calculations of earnings per share because the effect of those shares would be antidilutive.