NET LOSS PER SHARE

9 Months Ended

Mar. 31, 2022

NET LOSS PER SHARE

NET LOSS PER SHARE

NOTE 11 — NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares and 2021 PFWs outstanding during the period, without consideration for potentially dilutive securities. The 2021 PFWs are included in the computation of basic and diluted net loss per share since the exercise price is negligible and the 2021 PFWs are fully vested and exercisable. Accordingly, the weighted average number of shares outstanding is computed as follows for the three and nine months ended March 31, 2022 and 2021 (in thousands):

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2022		2021		2022		2021
Common Stock		15,557		8,352		12,735		7,445
2021 PFWs		1,661		—		1,013		—
Total		17,218		8,352		13,748		7,445

For the three and nine months ended March 31, 2022 and 2021, basic and diluted net loss per share were the same since all other common stock equivalents were anti-dilutive. As of March 31, 2022 and 2021, the following outstanding potential common stock equivalents were excluded from the computation of diluted net loss per share since the impact of inclusion was anti-dilutive (in thousands):

	2022	2021
Stock options	1,590	874
Warrants	1,158	1,437
Total	2,748	2,311