MIME 2017 Annual Report

61 MIMECAST LIMITED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY (DEFICIT) (in thousands) Convertible Preferred Accumulated Total Shares Ordinary Shares Additional Other Shareholders' Number of Number of Paid-in Accumulated Comprehensive (Deficit) Shares Amount Shares Amount Capital Deficit Loss Equity Balance as of March 31, 2015 12,576 $ 59,305 32,928 $ 395 $ 32,417 $ (85,332) $ (1,331) $ (53,851) Net loss — — — — — (3,244) — (3,244) Foreign currency translation adjustment — — — — — — (1,707) (1,707) Issuance of ordinary shares upon exercise of share options — — 941 12 873 — — 885 Issuance of ordinary shares upon settlement of liability awards — — 50 — 523 — — 523 Conversion of convertible preferred shares into ordinary shares (12,576) (59,305) 12,576 151 59,154 — — 59,305 Class C ordinary shares lost upon conversion to Class A ordinary shares — — (31) — — — — — Issuance of ordinary shares in relation to IPO, net of public offering issuance costs of $9,172 — — 7,750 93 68,235 — — 68,328 Share-based compensation — — — — 7,835 — — 7,835 Vesting of restricted share units — — 3 — — — — — Balance as of March 31, 2016 — — 54,217 651 169,037 (88,576) (3,038) 78,074 Net loss — — — — — (5,441) — (5,441) Foreign currency translation adjustment — — — — — — (5,247) (5,247) Unrealized losses on investments — — — — — — (129) (129) Issuance of ordinary shares upon exercise of share options — — 1,657 20 4,456 — — 4,476 Share-based compensation — — — — 10,259 — — 10,259 Vesting of restricted share units — — 28 — — — — — Balance as of March 31, 2017 — — 55,902 671 183,752 (94,017) (8,414) 81,992 Cumulative effect adjustment ASU 2016-09 — — — — 104 (104) — — Excess tax benefits related to exercise of share options — — — — 217 — — 217 Net loss — — — — — (12,386) — (12,386) Foreign currency translation adjustment — — — — — — 3,027 3,027 Unrealized gains on investments — — — — — — 40 40 Issuance of ordinary shares upon exercise of share options — — 2,961 36 15,600 — — 15,636 Share-based compensation — — 11,763 — — 11,763 ESPP purchase — — 67 — 1,492 — — 1,492 Tax withholdings on issuance of ordinary shares — — (3) — (89) — — (89) Vesting of restricted share units — — 23 — — — — — Balance as of March 31, 2018 — $ — 58,950 $ 707 $212,839 $ (106,507) $ (5,347) $ 101,692 The accompanying notes are an integral part of these consolidated financial statements.