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Stock-based compensation (Tables)

12 Months Ended

Mar. 31, 2024

Disclosure Of Share Based Payment Arrangements [Abstract]

Stock option activity and the weighted average exercise price

The stock option activity and the weighted average exercise price are summarized as follows:

			2024									2023
			Number of options			Weighted average exercise price						Number of options			Weighted average exercise price
						$									$
Outstanding – Beginning of year*			10,060,296			30.56						11,823,310			36.36
Granted			3,899,244			13.77						2,817,149			19.93
Exercised			(412,780)			5.20						(942,641)			5.00
Forfeited/Cancelled			(2,463,548)			30.16						(3,637,522)			47.76
Outstanding – End of fiscal year**			11,083,212			25.68						10,060,296			30.58
Exercisable – End of fiscal year			4,335,111			30.17						3,771,711			31.24

*The 2024 beginning of year weighted average exercise price was adjusted from the prior year closing weighted average exercise price to account for the CAD to USD foreign exchange rate used when calculating the current fiscal year's weighted average exercise prices.
**The stock options outstanding as at March 31, 2024 included 1,900,000 stock options with vesting dependent on market conditions tied to the Company's future share price performance. On April 18, 2024, 885,001 stock options with vesting dependent on market conditions tied to the Company's future share price performance were forfeited.

The RSU, DSU and PSU activity and the weighted average grant date fair values

The RSU, DSU and PSU activity and the weighted average grant date fair values as at March 31, 2024 are summarized as follows:

			2024									2024									2024
			RSU									DSU									PSU
			Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value
						$									$									$
Outstanding – Beginning of year			5,540,767			28.92						65,398			23.31						619,640			28.73
Granted			3,114,515			14.11						54,143			15.97						—			—
Settled			(1,595,478)			31.18						—			—						(167,284)			28.73
Forfeited			(859,036)			20.81						—			—						(452,356)			28.73
Outstanding – End of year			6,200,768			22.02						119,541			19.99						—			—

The RSU, DSU and PSU activity and the weighted average grant date fair values as at March 31, 2023 are summarized as follows:

			2023									2023									2023
			RSU									DSU									PSU
			Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value
						$									$									$
Outstanding – Beginning of year			3,314,131			46.71						34,421			37.95						953,290			28.73
Granted			4,397,629			20.77						47,577			18.72						—			—
Settled			(956,837)			41.58						(16,600)			40.50						(333,650)			28.73
Forfeited			(1,214,156)			37.97						—			—						—			—
Outstanding – End of year			5,540,767			28.92						65,398			23.31						619,640			28.73

Weighted average assumptions

The fair value of stock options granted to employees, excluding stock options that contain market conditions, was estimated at the dates of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

			2024			2023
Expected volatility			63.64		%	52.22		%
Risk-free interest rate			3.85		%	3.05		%
Expected option life			3.80 years			3.92 years
Expected dividend yield			0		%	0		%
Forfeiture rate			29.53		%	26.55		%

Range of exercise prices of outstanding share options

The following table summarizes information with respect to stock options outstanding and stock options exercisable as at March 31, 2024:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
2.17 to 13.35			2,483,720			5.51			12.46						787,825			4.12			10.62
13.36 to 17.01			2,169,016			6.11			14.69						419,481			5.76			14.72
17.02 to 23.25			2,137,549			4.55			20.94						1,033,606			3.80			21.42
23.26 to 31.69			2,469,252			4.31			29.05						804,717			3.15			25.37
31.70 to 93.45			1,823,675			3.87			57.75						1,289,482			3.63			57.16
Total			11,083,212			4.91			25.68						4,335,111			3.88			30.17

The following table summarizes information with respect to stock options outstanding stock options exercisable as at March 31, 2023:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
2.17 to 18.92			1,930,537			5.09			12.19						719,850			2.21			5.80
18.93 to 22.62			1,886,776			5.61			21.49						384,078			4.24			21.79
22.63 to 27.73			2,268,067			4.46			23.99						1,409,502			3.77			24.27
27.74 to 41.54			1,896,698			5.51			31.49						291,923			3.79			31.80
41.55 to 93.45			2,078,218			5.42			62.27						966,358			5.38			63.92
Total			10,060,296			5.19			30.58						3,771,711			3.94			31.24

Stock options outstanding and stock options exercisable

The following table summarizes information with respect to stock options outstanding and stock options exercisable as at March 31, 2024:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
2.17 to 13.35			2,483,720			5.51			12.46						787,825			4.12			10.62
13.36 to 17.01			2,169,016			6.11			14.69						419,481			5.76			14.72
17.02 to 23.25			2,137,549			4.55			20.94						1,033,606			3.80			21.42
23.26 to 31.69			2,469,252			4.31			29.05						804,717			3.15			25.37
31.70 to 93.45			1,823,675			3.87			57.75						1,289,482			3.63			57.16
Total			11,083,212			4.91			25.68						4,335,111			3.88			30.17

The following table summarizes information with respect to stock options outstanding stock options exercisable as at March 31, 2023:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
2.17 to 18.92			1,930,537			5.09			12.19						719,850			2.21			5.80
18.93 to 22.62			1,886,776			5.61			21.49						384,078			4.24			21.79
22.63 to 27.73			2,268,067			4.46			23.99						1,409,502			3.77			24.27
27.74 to 41.54			1,896,698			5.51			31.49						291,923			3.79			31.80
41.55 to 93.45			2,078,218			5.42			62.27						966,358			5.38			63.92
Total			10,060,296			5.19			30.58						3,771,711			3.94			31.24

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- Definition

The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options.

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