XML 32 R22.htm IDEA: XBRL DOCUMENT v3.24.3
Summary of Significant Accounting Policies Summary of Significant Accounting Principles (Tables)
 3 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of Other Nonoperating Income (Expense)
The following table summarizes the components of other (expense) income, net.
 Three Months Ended September 30,
20242023
(Losses) gains on derivatives not designated as hedging instruments (1)
$(20,569)$8,312 
Currency-related gains (losses), net (2)
8,667 (2,699)
Other gains
410 806 
Total other (expense) income, net
$(11,492)$6,419 
_____________________
(1) Includes realized and unrealized gains and losses on derivative currency forward and option contracts not designated as hedging instruments. For contracts not designated as hedging instruments, we realized (losses) gains of $(2,232) and $2,050 for the three months ended September 30, 2024 and 2023, respectively. Refer to Note 4 for additional details relating to our derivative contracts.
(2) Currency-related gains (losses), net primarily relates to significant non-functional currency intercompany financing relationships that we may change at times and are subject to currency exchange rate volatility. In addition, during the three months ended September 30, 2023, we recognized gains of $1,936 on a cross-currency swap designated as a cash flow hedge which hedges the remeasurement of an intercompany loan. We did not hold any cross-currency swap contracts that were designated as cash flow hedges during the current quarter. Refer to Note 4 for additional details regarding our cash flow hedges.
Schedule of Weighted Average Number of Shares
The following table sets forth the reconciliation of the weighted-average number of ordinary shares.
 Three Months Ended September 30,
 20242023
Weighted average shares outstanding, basic
25,167,845 26,468,769 
Weighted average shares issuable upon exercise/vesting of outstanding share options/PSUs/RSUs/warrants (1)(2)
— 610,686 
Shares used in computing diluted net (loss) income per share attributable to Cimpress plc25,167,845 27,079,455 
Weighted average anti-dilutive shares excluded from diluted net (loss) income per share attributable to Cimpress plc (1)1,224,628 187,649 
__________________
(1) In the periods in which a net loss is recognized, the impact of share options, PSUs, RSUs and warrants is excluded from shares used in computed diluted net loss per share as it is anti-dilutive.
(2) On May 1, 2020, we entered into a financing arrangement which included 7-year warrants to purchase 1,055,377 of our ordinary shares with a strike price of $60 that have a potentially dilutive impact on our weighted average shares outstanding. For the three months ended September 30, 2024, the average market price of our ordinary shares was higher than the strike price of the warrants and the weighted average anti-dilutive effect of the warrants (anti-dilutive due to our net loss position) was 341,158. For the three months ended September 30, 2023, the average market price of our ordinary shares was higher than the strike price of the warrants, and the weighted average dilutive effect of the warrants was 98,319