LOSS PER SHARE AND STOCKHOLDERS’ EQUITY

3 Months Ended

Jun. 30, 2023

LOSS PER SHARE AND STOCKHOLDERS' EQUITY

LOSS PER SHARE AND STOCKHOLDERS’ EQUITY

LOSS PER SHARE AND STOCKHOLDERS’ EQUITY:

Loss Per Share

A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts):

 

	For the three months ended
	June 30,
	2023		2022
Basic loss per share:
Net loss	$	(1,586)	$	(27,218)
Basic weighted-average shares outstanding	66,497		68,403
Basic loss per share	$	(0.02)	$	(0.40)
Diluted loss per share:
Basic weighted-average shares outstanding	66,497		68,403
Dilutive effect of common stock options and restricted stock units as computed under the treasury stock method (1)	—		—
Diluted weighted-average shares outstanding	66,497		68,403
Diluted loss per share	$	(0.02)	$	(0.40)

(1) The number of common stock options and restricted stock units as computed under the treasury stock method that would have otherwise been dilutive but are excluded from the table above because their effect would have been anti-dilutive due to the net loss position of the Company was 0.9 million and 0.8 million in the three months ended June 30, 2023 and 2022, respectively.

Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because their effect would have been anti-dilutive (other than due to the net loss position of the Company) are shown below (shares in thousands):

 

	For the three months ended
	June 30,
	2023	2022
Number of shares underlying restricted stock units	2,708	3,591

Stockholders’ Equity

On December 20, 2022, the Company's Board of Directors approved an amendment to the existing common stock repurchase program, which was initially adopted in 2011. The amendment authorized an additional $100.0 million in share repurchases, increasing the total amount authorized for repurchase under the common stock repurchase program to $1.1 billion. In addition, it extended the common stock repurchase program duration through December 31, 2024.

During the three months ended June 30, 2023, the Company repurchased 0.8 million shares of its common stock for $20.2 million under the modified common stock repurchase program.  Through June 30, 2023, the Company had repurchased a total of 36.5 million shares of its stock for $902.4 million under the program, leaving remaining capacity of $197.6 million.

Accumulated other comprehensive income balances of $4.6 million and $5.7 million at June 30, 2023 and March 31, 2023, respectively, reflect accumulated foreign currency translation adjustments.