Loss Per Share (Tables)

12 Months Ended

Oct. 31, 2019

Calculation of Basic and Diluted Loss Per Share

The calculation of basic and diluted EPS for the years ended October 31, 2019, 2018 and 2017 was as follows (amounts in thousands, except share and per share amounts):

	2019			2018			2017
Numerator
Net loss	$	(77,568	)	$	(47,334	)	$	(53,903	)
Series A warrant exchange		(3,169	)		—			—
Series B Preferred stock dividends		(3,231	)		(3,200	)		(3,200	)
Series C Preferred stock deemed dividends and redemption value adjustments, net		(6,522	)		(9,559	)		—
Series D Preferred stock deemed dividends and redemption accretion		(9,755	)		(2,075	)		—
Net loss attributable to common stockholders	$	(100,245	)	$	(62,168	)	$	(57,103	)
Denominator
Weighted average common shares outstanding - basic		55,081,266			6,896,189			4,159,575
Effect of dilutive securities ⁽¹⁾		—			—			—
Weighted average common shares outstanding - diluted		55,081,266			6,896,189			4,159,575
Net loss to common stockholders per share - basic	$	(1.82	)	$	(9.01	)	$	(13.73	)
Net loss to common stockholders per share - diluted ⁽¹⁾	$	(1.82	)	$	(9.01	)	$	(13.73	)

(1)

Due to the net loss to common stockholders in each of the years presented above, diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been antidilutive. As of October 31, 2019, 2018 and 2017, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

Schedule of Potentially Dilutive Securities Excluded from the Diluted Loss Per Share Calculation

As of October 31, 2019, 2018 and 2017, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

	October 31, 2019		October 31, 2018		October 31, 2017
Orion Warrants		6,000,000		—		—
May 2017 Offering – Series C Warrants		964,114		964,114		965,075
May 2017 Offering – Series D Warrants		—		—		215,348
July 2016 Offering – Series A Warrants		—		640,000		640,000
Outstanding options to purchase common stock		24,927		26,958		25,830
Unvested Restricted Stock Awards		24,574		93,286		158,224
Unvested Restricted Stock Units		166,541		270,929		92,500
Series C Preferred Shares to satisfy conversion requirements⁽¹⁾		—		499,556		1,508,152
Series D Preferred Shares to satisfy conversion requirements⁽²⁾		—		1,852,657		—
5% Series B Cumulative Convertible Preferred Stock ⁽³⁾		37,837		37,837		37,837
Series 1 Preferred Shares to satisfy conversion requirements⁽³⁾		1,264		1,264		1,264
Total potentially dilutive securities		7,219,257		4,386,601		3,644,230

(1)

The number of shares of common stock issuable upon conversion of the Series C Preferred Stock was calculated using the liquidation preference value outstanding on October 31, 2018 of $9.0 million divided by the reduced conversion price of $18.00 and the liquidation preference of $33.3 million divided by the conversion price of $22.08 as of October 31, 2017. The actual number of shares was subject to variation depending on the actual market price of the Company’s common shares on the dates of such conversions. All Series C Preferred Stock was converted prior to October 31, 2019.

(2)

The number of shares of common stock issuable upon conversion of the Series D Preferred Stock was calculated using the liquidation preference value outstanding on October 31, 2018 of $30.7 million divided by the conversion price of $16.56. The actual number of shares issued was subject to variation depending on the actual market price of the Company’s common shares on the dates of such conversions. All Series D Preferred Stock was converted prior to October 31, 2019.

(3)	Refer to Note 15. “Redeemable Preferred Stock” for information regarding the calculation of the common shares issuable upon conversion as of October 31, 2019.