Net Loss Per Share Attributable To Common Stockholders

12 Months Ended

Jun. 30, 2021

Net Loss Per Share Attributable To Common Stockholders

NOTE 16 – NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders during the years ended June 30, 2021, 2020 and 2019 (in thousands, except per share amounts):

	Year ended June 30,
	2021			2020			2019
Numerator:
Net loss attributable to common stockholders	$	(98,720	)	$	(31,091	)	$	(7,314	)
Denominator:
Weighted-average shares used to compute net loss per share attributable to common stockholders
Basic and diluted		82,813			44,106			7,797
Net loss per share attributable to common stockholders:
Basic and diluted	$	(1.19	)	$	(0.70	)	$	(0.94	)

Potentially dilutive securities, which were excluded from the diluted net loss per share calculations because they would have been antidilutive, are as follows (in thousands):

	June 30,
	2021		2020		2019
Stock options		6,552		9,019		10,027
Restricted stock units		1,176		1,141		—
Warrants to purchase common stock		—		—		63
Convertible redeemable preferred stock		—		—		52,435
Warrants to purchase redeemable convertible preferred stock		—		—		63
Total		7,728		10,160		62,588

In addition, approximately 7.1 million shares underlying the conversion option in the 2025 Notes are not considered in the calculation of diluted net loss per share. Such number of shares issuable under the 2025 Notes is subject to adjustment up to approximately 10.5 million shares if certain corporate events occur prior to the maturity date or if the Company issues a notice of redemption. The Company’s current intent is to settle conversions of the 2025 Notes through a combination settlement, which involves a repayment of the principal portion in cash with any excess of the conversion value over the principal amount settled in shares of common stock. The Company uses the treasury stock method for calculating any potential dilutive effect of the conversion option on diluted earnings per share, if applicable. During the period from the issuance of the 2025 Notes on November 30, 2020 through June 30, 2021, the average market price of the Company’s common stock did not exceed the initial conversion price of the 2025 Notes of $160.88 per share.