Net (Loss) Income Per Common Share

9 Months Ended

Mar. 31, 2025

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 nine months ended March 31, 2025, 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 nine months ended March 31, 2024, 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 (loss) income per common share:


	Three Months Ended March 31,				Nine Months Ended March 31,
(In thousands, except share and per share amounts)	2025		2024		2025		2024
Net (loss) income from operations available to common stockholders	$	(4,976)	$	(682)	$	(9,769)	$	717



Weighted average shares outstanding - basic	21,446,194		21,104,728		21,340,682		20,743,861
Effect of dilutive securities:

Shares issuable under RSUs and PBSRUs	—		—		—		204,468

Weighted average common shares outstanding - diluted	21,446,194		21,104,728		21,340,682		20,948,329


Net (loss) income per common share available to stockholders—basic and diluted	$	(0.23)	$	(0.03)	$	(0.46)	$	0.03