Earnings Per Share

3 Months Ended

Sep. 30, 2022

10. Earnings Per Share

The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts):


	Three Months Ended
	September 30,
	2022		2021
Numerator
Net loss	$	(10,631)	$	(8,618)
Income allocated to participating securities	—		—
Net loss available to common stockholders	$	(10,631)	$	(8,618)
Denominator
Weighted average common shares outstanding – basic	39,607,022		39,087,472
Effect of dilutive stock options(1)	—		—
Effect of dilutive restricted stock units(2)	—		—
Effect of performance-based restricted stock awards(3)	—		—

Weighted average common shares outstanding – diluted	39,607,022		39,087,472

Earnings per common share – basic and diluted	$	(0.27)	$	(0.22)

(1)At September 30, 2022 and 2021, 69,493 and 83,834 stock options, respectively, were outstanding. The effect of the shares that would be issued upon exercise of these options has been excluded from the calculation of diluted loss per share for all periods presented because those shares are anti-dilutive.

(2)At September 30, 2022 and 2021, 279,657 and 313,275 additional shares of common stock, respectively, were issuable upon the settlement of outstanding restricted stock units. The effect of the shares that would be issued upon settlement of these restricted stock units has been excluded from the calculation of diluted loss per share for all periods presented because those shares are anti-dilutive.

(3)At September 30, 2022 and 2021, 1,132,106 and 846,899 performance-based restricted stock awards, respectively, were outstanding. The effect of the potential vesting of these awards has been excluded from the calculation of diluted loss per share for all periods presented because those shares are anti-dilutive.