Earnings Per Share

6 Months Ended

Mar. 31, 2023

10.

Earnings Per Share

Calculations of net loss per common share attributable to Mesa Air Group were as follows (in thousands, except per share data):


	Three Months Ended March 31,						Six Months Ended March 31,
	2023			2022			2023			2022
Net loss attributable to Mesa Air Group	$	(35,122	)	$	(42,783	)	$	(44,211	)	$	(57,057	)
Basic weighted average common shares outstanding		39,932			36,048			38,135			36,005
Diluted weighted average common shares outstanding		39,932			36,048			38,135			36,005
Net loss per common share attributable to Mesa Air Group:
Basic	$	(0.88	)	$	(1.19	)	$	(1.16	)	$	(1.58	)
Diluted	$	(0.88	)	$	(1.19	)	$	(1.16	)	$	(1.58	)

Basic income or loss per common share is computed by dividing net income or loss attributable to Mesa Air Group by the weighted average number of common shares outstanding during the period.

The number of incremental shares from the assumed issuance of shares relating to restricted stock and exercise of warrants is calculated by applying the treasury stock method. Share-based awards and warrants whose impact is anti-dilutive under the treasury stock method are excluded from the diluted net income or loss per share calculation. In loss periods, these incremental shares are excluded from the calculation of diluted loss per share, as the inclusion of unvested restricted stock and warrants would have an anti-dilutive effect.

The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net loss per share because the effect of including such potentially dilutive shares would have been anti-dilutive:


	Three Months Ended March 31,				Six Months Ended March 31,
	2023		2022		2023		2022
Warrants		—		818		—		1,671
Restricted stock		—		84		—		235
		—		902		—		1,906