Earnings (Loss) per Common Share

12 Months Ended

Jun. 30, 2025

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

Note 12. Earnings (Loss) per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share, reflecting the application of the two-class method (in thousands, except per share amounts):

	Years Ended June 30,
	2025		2024
Numerator
Net income (loss)	$	1,473	$	4,080
Undistributed earnings allocated to unvested restricted stock		(367)		(83)
Net income (loss) for earnings per share calculation	$	1,106	$	3,997
Denominator
Weighted average number of common shares outstanding — Basic		33,158		32,691
Effect of dilutive securities:
Unvested restricted stock awards		165		183
Unvested contingent restricted stock units		—		27
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share		33,323		32,901
Net income (loss) per common share — Basic	$	0.03	$	0.12
Net income (loss) per common share — Diluted	$	0.03	$	0.12

Unvested restricted stock awards (both time-vested and performance-based), totaling approximately 0.1 million for each of the year ended June 30, 2025 and 2024, were not included in the computation of diluted earnings per common share because the effect would have been anti-dilutive.

In addition, unvested performance-based restricted stock awards and unvested contingent restricted stock units that would not meet the performance criteria as of the period end are excluded from the computation of diluted earnings per common share.