Computation of Net Loss per Common Share

Basic net loss per share (“EPS”) is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Where applicable, diluted EPS is computed by dividing the net loss by the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period, calculated using the treasury stock method. Common equivalent shares include the effect of restricted stock, exercise of stock options and warrants and contingently issuable shares. Stock options and warrants that are out-of-the-money with exercise prices greater than the average market price of the underlying Common Shares and shares of performance based restricted stock where the contingency was

not

met are excluded from the computation of diluted EPS as the effect of their inclusion would be anti-dilutive. For the

three

months ended

June 30, 2019

1.0

million shares were

not

included in the calculation of diluted EPS as they were considered anti-dilutive, of which

0.2

million shares relate to outstanding stock options, and

0.8

million shares relate to outstanding warrants. For the

three

months ended

June 30, 2018

1.1

million shares were

not

included in the calculation of diluted EPS as they were considered anti-dilutive, of which

0.2

million shares relate to outstanding stock options, and

0.9

million shares relate to outstanding warrants.

The following table reconciles the numerators and denominators of the earnings per share calculation for the

three

months ended

June 30, 2019

and

2018

(in thousands, except per share data):

	Three Months Ended June 30,
	2019			2018
Numerator:
Net loss	$	(3,539	)	$	(4,737	)
Denominator:
Weighted-average shares of common stock outstanding		21,499			20,999
Weighted-average shares subject to repurchase		(985	)		(832	)
Shares used in per-share calculation — basic		20,514			20,167
Shares used in per-share calculation — diluted		20,514			20,167
Net loss per share — basic	$	(0.17	)	$	(0.23	)
Net loss per share — diluted	$	(0.17	)	$	(0.23	)