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Net (Loss) Income Per Common Share | 12 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Net (Loss) Income Per Common Share | Net (Loss) Per Common Share Basic net (loss) per common share is calculated by dividing net (loss) attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net (loss) per common share is calculated by dividing diluted net (loss) attributable to the Company by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, unvested performance-based restricted stock units, and shares of Series A Preferred Stock, as converted, during the periods presented. The calculation of dilutive shares outstanding excludes out-of-the-money stock options (i.e., such option’s exercise prices were greater than the average market price of our common shares for the period) and unvested performance-based restricted stock units because their inclusion would be have been anti-dilutive. The following table presents the computation of basic and diluted earnings per common share:
|  | For the Years Ended June 30,
(In thousands, except share and per share amounts) |  | 2021 |  | 2020 |  | 2019
Undistributed net (loss) available to common stockholders |  | $ | (40,710) |  |  | $ | (37,462) |  |  | $ | (74,054) |
Undistributed net (loss) available to nonvested restricted stockholders and holders of convertible preferred stock |  | (1,515) |  |  | (179) |  |  | (76) |
Net (loss) available to common stockholders—basic |  | $ | (42,225) |  |  | $ | (37,641) |  |  | $ | (74,130) |
Weighted average common shares outstanding—basic |  | 17,635,402 |  |  | 17,205,849 |  |  | 16,996,354 |
Effect of dilutive securities: |  |  |  |  |  |
Shares issuable under stock options |  | — |  |  | — |  |  | — |
Weighted average common shares outstanding—diluted |  | 17,635,402 |  |  | 17,205,849 |  |  | 16,996,354 |
Net (loss) per common share available to common stockholders—basic |  | $ | (2.39) |  |  | $ | (2.19) |  |  | $ | (4.36) |
Net (loss) per common share available to common stockholders—diluted |  | $ | (2.39) |  |  | $ | (2.19) |  |  | $ | (4.36) |
The following table summarizes anti-dilutive securities excluded from the computation of diluted net (loss) per common share for the periods indicated:
|  | For the Years Ended June 30,
|  | 2021 |  | 2020 |  | 2019
Shares issuable under stock options |  | 395,069 |  |  | 330,627 |  |  | 157,850 |
Shares issuable under convertible preferred stock |  | 437,165 |  |  | 422,193 |  |  | 407,734 |
Shares issuable under PBRSUs |  | 376,264 |  |  | 73,012 |  |  | 65,971 |

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