Net Loss Per Common Share

3 Months Ended

Sep. 30, 2023

Note 17. Net Loss Per Common Share

Basic net loss per common share is calculated by dividing net loss attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net loss per common share is calculated by dividing diluted net loss attributable to the Company by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, unvested performance-based restricted stock units, and shares of the Company’s Series A Convertible Participating Cumulative Perpetual Preferred Stock, par value $1.00 per share (“Series A Preferred Stock”), as converted, during the periods presented. The calculation of dilutive shares outstanding excludes out-of-the-money stock options (i.e., such option’s exercise prices were greater than the average market price of our common shares for the period) and unvested performance-based restricted stock units because their inclusion would have been anti-dilutive.

The following table presents the computation of basic and diluted net earnings loss per common share:


	Three Months Ended September 30,
(In thousands, except share and per share amounts)		2023		2022
Loss from continuing operations available to common stockholders		$	(1,307)	$	(1,580)
Loss from discontinued operations available to common stockholders		—		(5,794)
Net loss available to common stockholders—basic and diluted		(1,307)		(7,374)

Weighted average shares outstanding - basic and diluted		20,366,017		18,948,453





Loss from continuing operations per share available to common stockholders—basic and diluted		$	(0.06)	$	(0.08)
Loss from discontinued operations per share available to common stockholders—basic and diluted		$	—	$	(0.31)
Net loss per common share available to stockholders—basic and diluted		$	(0.06)	$	(0.39)

The following table summarizes weighted average anti-dilutive securities excluded from the computation of diluted net loss per common share for the periods indicated:


	Three Months Ended September 30,
		2023	2022
Shares issuable under stock options		331,658	439,318

Shares issuable under PBRSUs		17,578	437,453