NET LOSS PER COMMON SHARE

3 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

NET LOSS INCOME PER COMMON SHARE

NOTE 11 — NET LOSS PER COMMON SHARE

Basic net loss per common share is computed by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the period and does not consider common stock equivalents.

Diluted net loss per common share reflects the dilution that would occur if restricted shares were vested. In the computation of diluted net loss per common share, Orion uses the treasury stock method for outstanding options and restricted shares. For the three months ended June 30, 2024 and 2023, Orion was in a net loss position; therefore, the Basic and Diluted weighted-average shares outstanding are equal because any increase to the basic shares would be anti-dilutive. Net loss per common share is calculated based upon the following shares:

	For the Three Months Ended June 30,
	2024			2023
Numerator:
Net loss (in thousands)	$	(3,758	)	$	(6,637	)
Denominator:
Weighted-average common shares outstanding		32,610,604			32,345,823
Weighted-average common shares and common share    equivalents outstanding		32,610,604			32,345,823
Net loss per common share:
Basic	$	(0.12	)	$	(0.21	)
Diluted	$	(0.12	)	$	(0.21	)

The following table indicates the number of potentially dilutive securities excluded from the calculation of Diluted net loss per common share because their inclusion would have been anti-dilutive. The number of shares is as of the end of each period:

	For the Three Months Ended June 30,
	2024		2023
Restricted shares		1,524,222		582,506
Total		1,524,222		582,506