Net Loss Per Share

6 Months Ended

Dec. 31, 2020

Note 5. Net Loss Per Share

Basic and diluted net loss per share are computed using the weighted-average number of shares of common stock outstanding during the period, less any shares subject to repurchase or forfeiture. There were no shares of common stock subject to repurchase or forfeiture for the three and six months ended December 31, 2020 and 2019. Diluted net loss per share is computed based on the sum of the weighted average number of common shares and potentially dilutive common shares outstanding during the period.

The following table presents the calculation of net loss used to calculate basic loss and diluted loss per share (in thousands):


	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2020			2019			2020			2019
Net loss - basic	$	(11,454	)	$	(20,217	)	$	(13,546	)	$	(23,211	)
Change in fair value of warrant liability		(7,083	)		—			(20,307	)		—

Net loss - diluted	$	(18,537	)	$	(20,217	)	$	(33,853	)	$	(23,211	)

Our potentially dilutive shares, which include outstanding stock options, restricted stock units, and warrants, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The following table presents weighted-average potentially dilutive shares that have been excluded from the calculation of net loss per share because of their anti-dilutive effect (in thousands):


	Three Months Ended December 31,				Six Months Ended December 31,
	2020		2019		2020		2019
Stock options		15,128		10,929		15,347		10,930
Restricted stock units		430		—		430		—
Warrants		—		16,062		—		16,062

Total anti-dilutive shares		15,558		26,991		15,777		26,992