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Earnings (Loss) per Common Share

9 Months Ended

Mar. 31, 2025

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

Note 12. Earnings (Loss) per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share, reflecting the application of the two-class method (in thousands, except per share amounts):


		Three Months Ended						Nine Months Ended
		March 31,						March 31,
		2025			2024			2025			2024
Numerator
Net income (loss)		$	(2,179)		$	289		$	(1,939)		$	2,845
Undistributed earnings allocated to unvested restricted stock			(96)			(6)			(274)			(58)
Net income (loss) for earnings per share calculation		$	(2,275)		$	283		$	(2,213)		$	2,787

Denominator
Weighted average number of common shares outstanding — Basic			33,433			32,702			33,027			32,692
Effect of dilutive securities:
Unvested restricted stock awards			—			124			—			192
Unvested contingent restricted stock units			—			28			—			36
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share			33,433			32,854			33,027			32,920

Net income (loss) per common share — Basic		$	(0.07)		$	0.01		$	(0.07)		$	0.09
Net income (loss) per common share — Diluted		$	(0.07)		$	0.01		$	(0.07)		$	0.08

Unvested restricted stock awards (both time-vested and performance-based), totaling approximately 0.8 million for the each of the three and nine months ended March 31, 2025 were not included in the computation of diluted earnings per common share because the effect would have been anti-dilutive due to the net loss.

Unvested restricted stock awards (both time-vested and performance-based), totaling approximately 0.1 million for each of the three and nine months ended March 31, 2024, were not included in the computation of diluted earning per common share because the effect would have been anti-dilutive.

In addition, unvested performance-based restricted stock awards and unvested contingent restricted stock units that would not meet the performance criteria as of the period end are excluded from the computation of diluted earnings per common share.