3. NET INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Jun. 30, 2024

NET INCOME (LOSS) PER COMMON SHARE

NOTE 3 - NET INCOME (LOSS) PER COMMON SHARE

NOTE 3—NET INCOME (LOSS) PER COMMON SHARE

The Company uses the treasury stock method to calculate the weighted average shares used in computing diluted net loss per share. The following table sets forth the computation of basic and diluted net income (loss) per share:

	Three Months Ended June 30,
	2024		2023
	(In thousands, except per share amounts)
Net income (loss)	$	1,078	$	(5,110)
Denominators:
Weighted average shares—Basic		25,374		24,866
Dilutive effect of employee stock options		301		—
Dilutive effect of employee stock purchase plan options		11		—
Weighted average shares—Dilutive		25,686		24,866
Net income (loss) per common share—Basic	$	0.04	$	(0.21)
Net income (loss) per common share—Diluted	$	0.04	$	(0.21)

The following shares of common stock underlying outstanding stock options and unissued ESPP shares, determined on a weighted average basis, were excluded from the computation of diluted net income (loss) per share as they had an anti-dilutive effect:

	Three Months Ended June 30,
	2024	2023
	(In thousands)
Shares underlying options and ESPP shares	7,650	7,778