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Net Income (loss) Per Common Share | 9 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Net Income (loss) Per Common Share | Net Income (loss) Per Common Share Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net income (loss) per common share is calculated by dividing diluted net income (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 (loss) per common share:
|  | Three Months Ended March 31, |  | Nine Months Ended March 31,
(In thousands, except share and per share amounts) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Undistributed net (loss) income available to common stockholders |  | $ | (13,234) |  |  | $ | (39,790) |  |  | $ | (36,601) |  |  | $ | (27,692) |
Undistributed net (loss) income available to nonvested restricted stockholders and holders of convertible preferred stock |  | (594) |  |  | (126) |  |  | (1,507) |  |  | (91) |
Net (loss) earnings available to common stockholders—basic |  | $ | (13,828) |  |  | $ | (39,916) |  |  | $ | (38,108) |  |  | $ | (27,783) |
Weighted average common shares outstanding—basic |  | 17,756,619 |  |  | 17,230,879 |  |  | 17,569,026 |  |  | 17,161,477 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Shares issuable under stock options |  | — |  |  | — |  |  | — |  |  | — |
Shares issuable under PBRSUs |  | — |  |  | — |  |  | — |  |  | — |
Shares issuable under convertible preferred stock |  | — |  |  | — |  |  | — |  |  | — |
Weighted average common shares outstanding—diluted |  | 17,756,619 |  |  | 17,230,879 |  |  | 17,569,026 |  |  | 17,161,477 |
Net loss available to common stockholders per common share—basic |  | $ | (0.78) |  |  | $ | (2.32) |  |  | $ | (2.17) |  |  | $ | (1.62) |
Net loss available to common stockholders per common share—diluted |  | $ | (0.78) |  |  | $ | (2.32) |  |  | $ | (2.17) |  |  | $ | (1.62) |
The following table summarizes anti-dilutive securities excluded from the computation of diluted net income (loss) per common share for the periods indicated:
|  | Three Months Ended March 31, |  | Nine Months Ended March 31,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Shares issuable under stock options |  | 421,167 |  |  | 485,513 |  |  | 421,167 |  |  | 327,192 |
Shares issuable under convertible preferred stock |  | 433,373 |  |  | 418,531 |  |  | 433,373 |  |  | 418,531 |
Shares issuable under PBRSUs |  | 185,236 |  |  | 98,946 |  |  | 104,271 |  |  | 75,926 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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