Reconciliation of Weighted Average Shares Outstanding

9 Months Ended

Jan. 31, 2023

Reconciliation of Weighted Average Shares Outstanding

A reconciliation of the shares used in the computation of (loss) earnings per share follows (shares in thousands):


	Three Months Ended January 31,		Nine Months Ended January 31,
	2023	2022	2023	2022
Weighted average shares outstanding	55,514	55,701	55,625	55,789
Shares used for basic (loss) earnings per share	55,514	55,701	55,625	55,789
Dilutive effect of unvested restricted stock units and other stock awards	—	688	—	692
Shares used for diluted (loss) earnings per share	55,514	56,389	55,625	56,481
Antidilutive options to purchase Class A common shares, restricted shares, warrants to purchase Class A common shares, and contingently issuable restricted stock which are excluded from the table above	1,141	977	1,155	863

In calculating diluted net loss per common share for the three and nine months ended January 31, 2023 our diluted weighted average number of common shares outstanding excludes the effect of unvested restricted stock units and other stock awards as the effect was anti-dilutive. This occurs when a net loss is reported and the effect of using dilutive shares is antidilutive.

The shares associated with performance-based stock awards ("PSUs") are considered contingently issuable shares and will be included in the diluted weighted average number of common shares outstanding when they have met the performance conditions, and when their effect is dilutive.

We included contingently issuable shares using the treasury stock method for certain PSUs in the diluted weighted average number of common shares outstanding based on the number of contingently issuable shares that would be issued assuming the end of our reporting period was the end of the relevant PSU contingency period. The calculation of diluted weighted average shares outstanding excluded these PSUs in the three and nine months ended January 31, 2023 as the effect was antidilutive as described above. The calculation of diluted weighted average shares outstanding related to these PSUs was nominal in the three and nine months ended January 31, 2022.