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Earnings per Share
 12 Months Ended
Jun. 30, 2021
Earnings per Share  
Earnings per Share

Note 18: Earnings per Share

Basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding options, using the treasury stock method and the average market price of the Company’s common stock during the applicable period. When a loss from continuing operations exists, all dilutive securities and potentially dilutive securities are anti-dilutive and are therefore excluded from the computation of diluted earnings per share. When net income from continuing operations exists, performance-based units, are omitted from the calculation of diluted EPS until it is determined that the performance criteria has been met at the end of the reporting period. As of June 30, 2020, there were 8,084,243 performance-based awards excluded from the calculation of diluted EPS.

The following table sets forth the computation of basic and diluted net loss per common share:

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​

​

​

​

​

​

​

​

​

Year ended June 30, 

in thousands, except share values

    

2021

    

2020

Net income (loss) attributable to InnovAge Holding Corp.

​

$

(43,986)

​

$

26,278

Weighted average common shares outstanding (basic)

​

 

123,618,702

​

 

132,616,431

EPS (basic)

​

$

(0.36)

​

$

0.20

​

​

​

​

​

​

​

Dilutive shares

​

 

—

​

 

2,617,199

Weighted average common shares outstanding (diluted)

​

 

123,618,702

​

 

135,233,630

EPS (diluted)

​

$

(0.36)

​

$

0.19

​