Loss Per Common Share

9 Months Ended

Mar. 31, 2021

Loss Per Common Share

Loss Per Common Share

Note 14. Loss Per Common Share

A reconciliation of the Company’s basic and diluted loss per common share was as follows:

	Three Months Ended
	March 31,
(In thousands, except share and per share data)	2021		2020
Numerator:
Net loss	$	(7,142)	$	(16,592)
Interest expense applicable to the Convertible Notes, net of tax		—		—
Amortization of debt issuance costs applicable to the Convertible Notes, net of tax		—		—
Adjusted “if-converted” net loss	$	(7,142)	$	(16,592)
Denominator:
Basic weighted average common shares outstanding		39,511,296		38,707,049
Effect of potentially dilutive options and restricted stock awards		—		—
Effect of conversion of the Convertible Notes		—		—
Diluted weighted average common shares outstanding		39,511,296		38,707,049
Loss per common share:
Basic	$	(0.18)	$	(0.43)
Diluted	$	(0.18)	$	(0.43)

	Nine Months Ended
	March 31,
(In thousands, except share and per share data)	2021		2020
Numerator:
Net loss	$	(185,589)	$	(23,665)
Interest expense applicable to the Convertible Notes, net of tax		—		—
Amortization of debt issuance costs applicable to the Convertible Notes, net of tax		—		—
Adjusted “if-converted” net loss	$	(185,589)	$	(23,665)
Denominator:
Basic weighted average common shares outstanding		39,340,670		38,539,850
Effect of potentially dilutive options and restricted stock awards		—		—
Effect of conversion of the Convertible Notes		—		—
Diluted weighted average common shares outstanding		39,340,670		38,539,850
Loss per common share:
Basic	$	(4.72)	$	(0.61)
Diluted	$	(4.72)	$	(0.61)

The number of anti-dilutive shares that have been excluded in the computation of diluted loss and earnings per share for the three months ended March 31, 2021 and 2020 were 8.1 million and 7.8 million, respectively. The number of anti-dilutive shares that have been excluded in the computation of diluted loss and earnings per share for the nine months ended March 31, 2021 and 2020 were 8.1 million and 6.0 million, respectively. The effect of potentially dilutive shares was excluded from the calculation of diluted loss per share in the three and nine months ended March 31, 2021 and 2020 because the effect of including such securities would be anti-dilutive.