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 Ended
	August 31, 2026		August 31, 2025
Net loss	$	(184,055)	$	(16,926)
Net loss attributable to noncontrolling interest and redeemable noncontrolling interest	(51,484)		—
Preferred dividends	(1,543)		(1,576)
Net loss attributable to common stockholders	$	(237,082)	$	(18,502)

Net loss attributable to common stockholders:
Continuing operations	$	(221,028)	$	(18,502)
Discontinued operations	(16,054)		—
Net loss	$	(237,082)	$	(18,502)

Basic and diluted net loss per share attributable to common stockholders:
Continuing operations	$	(0.76)	$	(0.07)
Discontinued operations	(0.06)		—
Basic and diluted net loss per share	$	(0.82)	$	(0.07)

Basic and diluted weighted average number of shares outstanding	291,557,618		255,892,902

As of August 31, 2026 and August 31, 2025, the Company had approximately 15.2 million and 14.4 million shares, respectively, of granted but unvested performance stock units and restricted stock units that would have a potentially dilutive effect on earnings per share.

As of August 31, 2026 and August 31, 2025, the Company had approximately 7.5 million and 4.4 million shares, respectively, 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 28.1 million and 25.5 million warrants outstanding as of August 31, 2026 and August 31, 2025, respectively, which have been excluded from the calculations of earnings per share because the effect of those shares would be antidilutive. Lastly, if the Company's Convertible Notes were converted into shares of the Company's common stock as of August 31, 2026, approximately 46.1 million shares were excluded from the calculations of earnings per share because the effect of those shares would be antidilutive.