Net Income (Loss) Per Share (Tables)

3 Months Ended

Sep. 30, 2020

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of net income (loss) per share for the three months ended September 30:


(in thousands, except per share amounts)	2020		2019
Basic:
Numerator:
Net income (loss)	$	837	$	(1,688)
Less: dividends declared on Series A, B, C & D preferred stock	—		—
Less: cumulative dividends on Series D preferred stock	—		(3,025)
Net income (loss) attributable to common shareholders	837		(4,713)
Denominator:
Weighted-average common stock outstanding	162,448		87,516
Net income (loss) per share—basic:	$	0.01	$	(0.05)
Diluted:
Numerator:
Net income (loss) attributable to common shareholders	$	837	$	(4,713)
Add: dividends declared on Series A, B & C preferred stock	—		—
Add: dividends declared on Series D preferred stock	—		—
Add: cumulative dividends on Series D preferred stock(2)	—		—
Add: mark-to-market adjustment on earnout liability(1)	—		—
Net income (loss) attributable to common and common equivalent shareholders	837		(4,713)
Denominator:
Weighted-average common stock outstanding	162,448		87,516
Series A, B & C preferred stock outstanding(2)	—		—
Series D preferred stock outstanding(2)	—		—
Stock options outstanding to purchase shares of common stock(2)	2,744		—
Contingently issuable shares(1)	—		—
Total common and common equivalent shares outstanding	165,192		87,516
Net income (loss) per share—diluted:	$	0.01	$	(0.05)

(1) Excluded from the computation of net income per share-diluted for the three months ended September 30, 2020, because the effect would have been anti-dilutive.

(2) Excluded from the computation of net loss per share-diluted for the three months ended September 30, 2019, because the effect would have been anti-dilutive.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The number of outstanding anti-dilutive shares that were excluded from the computation of diluted net income (loss) per share consisted of the following for the three months ended September 30:


(in thousands)	2020	2019
Series A, B & C preferred stock outstanding	—	12,071
Series D preferred stock outstanding	—	32,000
Stock options outstanding to purchase shares of common stock	—	5,972
Contingently issuable shares	551	—
Total	551	50,043