Net (Loss) Income Per Common Share

6 Months Ended

Dec. 31, 2024

Note 16. Net (Loss) Income Per Common Share

Basic net (loss) income per common share is calculated by dividing net (loss) income attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net (loss) income per common share is calculated by dividing diluted net (loss) income 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 RSUs, 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). Potentially dilutive securities include unvested RSUs and performance-based restricted stock units. For the three and six months ended December 31, 2024, respectively, shares of the Company’s outstanding stock options were not included in the computation of diluted (loss) income per common share as their effects were anti-dilutive. For the three and six months ended December 31, 2023, shares of the Company’s outstanding stock options were not included in the computation of diluted (loss) income per common share as their effects were anti-dilutive.

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


	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands, except share and per share amounts)	2024		2023		2024		2023
Net income (loss) from operations available to common stockholders	$	210	$	2,704	$	(4,792)	$	1,397



Weighted average shares outstanding - basic	21,314,911		20,728,699		21,289,073		20,565,492
Effect of dilutive securities:

Shares issuable under RSUs and PBSRUs	1,042,788		188,863		—		174,811

Weighted average common shares outstanding - diluted	22,357,699		20,917,562		21,289,073		20,740,303


Net income (loss) per common share available to stockholders—basic and diluted	$	0.01	$	0.13	$	(0.23)	$	0.07