Net Loss Per Common Share

12 Months Ended

Jun. 30, 2024

Note 18. 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, unvested RSUs 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). Potentially dilutive securities include unvested RSUs and performance-based restricted stock units. For the year ended June 30, 2024, 2023 and 2022, shares of the Company’s outstanding RSUs, PBRSUs, preferred stock and stock options were not included in the computation of diluted loss per common share as their effects were anti-dilutive.

The following table presents the computation of basic and diluted loss per common share, net of income taxes:


	For the Years Ended June 30,
(In thousands, except share and per share amounts)	2024		2023		2022


Loss from continuing operations	$	(3,875)	$	(34,038)	$	(2,568)
Loss from discontinued operations	$	—	$	(45,142)	$	(13,687)
Net loss available to common stockholders—basic	$	(3,875)	$	(79,180)	$	(16,255)

Weighted average common shares outstanding—basic and diluted	20,873,266		19,621,992		18,200,080





Loss from continuing operations per common share available to common stockholders—basic and diluted	$	(0.19)	$	(1.74)	$	(0.14)

Loss from discontinued operations per common share available to common stockholders—basic and diluted	$	—	$	(2.30)	$	(0.75)

Net loss per common share available to common stockholders—basic and diluted	$	(0.19)	$	(4.04)	$	(0.89)

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,
	2024	2023	2022
Shares issuable under stock options	19,450	331,658	452,537
Shares issuable under convertible preferred stock	—	—	452,667
Shares issuable under RSUs and PBRSUs	203,726	491,564	426,243