Note 6 - Net Loss Per Share

9 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

(6) Net Loss per Share

Basic net loss per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed based on the weighted average number of common shares outstanding plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method and the if-converted method. Potentially dilutive common shares include outstanding stock options and share-based awards.

The following table reconciles the numerators and denominators used in the computations of both basic and diluted net loss per share:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
(In thousands, except per share data)	2024			2023			2024			2023
Numerator:
Net loss	$	(3,154	)	$	(2,375	)	$	(8,707	)	$	(7,322	)
Denominator:
Denominator for basic and diluted net loss per share — weighted average common stock outstanding		1,633			1,616			1,632			1,614
Basic and diluted net loss per common share:
Net loss per common share	$	(1.93	)	$	(1.47	)	$	(5.34	)	$	(4.54	)

All unvested restricted stock awards and convertible Series D preferred share for the nine months ended March 31, 2024 are not included in diluted net loss per share, as the impact to net loss per share would be anti-dilutive. Options to purchase 148,166 shares of common stock at exercise prices ranging from $7.47 to $175.50 per share outstanding as of March 31, 2024 were not included in diluted net loss per share, as the impact to net loss per share would be anti-dilutive.