Earnings per Share

12 Months Ended

Jun. 30, 2022

Earnings per Share

Earnings per Share

Note 15:  Earnings per Share

Basic earnings (loss) per share (“EPS”) is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding options, using the treasury stock method and the average market price of the Company’s common stock during the applicable period. When a loss from continuing operations exists, all dilutive securities and potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share. When net income from continuing operations exists, performance-based units, are omitted from the calculation of diluted EPS until it is determined that the performance criteria has been met at the end of the reporting period. As of June 30, 2022, there were 1,035,066 performance-based awards excluded from the calculation of diluted EPS. There were no performance-based awards excluded from diluted EPS at June 30, 2021.

The following table sets forth the computation of basic and diluted net loss per common share:

	Year ended June 30,
in thousands, except share values	2022		2021
Net income (loss) attributable to InnovAge Holding Corp.	$	(6,521)	$	(43,986)
Weighted average common shares outstanding (basic)		135,519,970		123,618,702
EPS (basic)	$	(0.05)	$	(0.36)
Dilutive shares		—		—
Weighted average common shares outstanding (diluted)		135,519,970		123,618,702
EPS (diluted)	$	(0.05)	$	(0.36)