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Earnings (Loss) Per Share

9 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Basic earnings per share is computed by dividing net income or loss by the weighted-average number of shares of Class A common stock outstanding, during each period presented. Diluted earnings per share is computed similarly to basic earnings per share, except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue shares of Class A common stock were exercised or converted into shares of Class A common stock. The computations for basic and diluted earnings (loss) per share of Class A common stock are described in the following table:

		Three Months Ended March 31,								Nine Months Ended March 31,
		2021				2020				2021				2020

Net income (loss)		$	(222,564	)		$	816,017			$	(272,041	)		$	209,977

Weighted-average common shares outstanding:
Basic number of shares			26,366,651				25,858,155				26,153,839				25,840,881

Effect of dilutive securities:
Options to purchase common stock			-				828				-				-
RSUs			-				1,710,861				-				1,508,422
Diluted number of shares			26,366,651				27,569,844				26,153,839				27,349,303

Earnings (loss) per common share:
Basic		$	(0.01	)		$	0.03			$	(0.01	)		$	0.01
Diluted		$	(0.01	)		$	0.03			$	(0.01	)		$	0.01

The following potential dilutive shares were not included in the computation of diluted earnings per share of Class A common stock, as their effects would be anti-dilutive:

		Three Months Ended March 31,								Nine Months Ended March 31,
		2021				2020				2021				2020
Options to purchase common stock			364,536				900,185				515,870				905,348
RSUs			2,255,487				561,120				2,331,648				552,934
			2,620,023				1,461,305				2,847,518				1,458,282