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Note 17 - Earnings Per Share | 3 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Earnings Per Share [Text Block] | Note 17 - Earnings Per Share Basic net income (loss) per share is calculated by dividing the net income (loss) available to the common stockholders by the weighted average number of common shares outstanding during that period. Diluted net income (loss) per share reflects the potential of securities that could share in the net income (loss) of the Company. For the three months ended September 30, 2023, the Company incurred a net loss from continuing operations and discontinued operations and thus did not include common equivalent shares in the computation of diluted net loss per share because the effect would have been anti-dilutive. Basic net income or loss per common share is calculated by dividing net income or loss available to common stockholders by the basic weighted-average number of common shares outstanding for the respective period. Diluted net income or loss per common share is calculated by dividing adjusted net income or loss by the diluted weighted-average number of common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of warrants to purchase common stock that are either liability classified or equity classified (see Note 16 – Warrants); employee stock options (see Note 15 – Equity Incentive Plans); employee unvested restricted stock (see Note 15 – Equity Incentive Plans); and employee unvested restricted stock units (see Note 15 – Equity Incentive Plans). For the three months ended September 30, 2024, and 2023, if the Company incurred a net loss from continuing operations; a net loss from discontinued operations, net of tax; or a net loss then the Company did not include common equivalent shares in the computation of diluted net loss from continuing operations per share; diluted net loss from discontinued operations, net of tax; or diluted net loss per share because the effect would have been anti-dilutive. The following is a reconciliation of the numerator and the denominator used in the basic per share calculations:
|  | Three Months Ended |
|  | September 30, |
|  | 2024 |  |  | 2023 |
|  | (in thousands, except share and per share data) |
BASIC |  |  |  |  |  |  |  |
Numerators: |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 1,093 |  |  | $ | (7,473 | )
Net income (loss) from discontinued operations, net of tax |  |  | 381 |  |  |  | (647 | )
Net income (loss) |  | $ | 1,474 |  |  | $ | (8,120 | )
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  |  | 6,068,019 |  |  |  | 5,482,037 |
Per share calculations: |  |  |  |  |  |  |  |
Net income (loss) per share from continuing operations |  | $ | 0.18 |  |  | $ | (1.36 | )
Net income (loss) per share from discontinued operations, net of tax |  | $ | 0.06 |  |  | $ | (0.12 | )
Net income (loss) per share |  | $ | 0.24 |  |  | $ | (1.48 | )
The following is a reconciliation of the numerator and the denominator used in the diluted per share calculations:
|  | Three Months Ended |
|  | September 30, |
|  | 2024 |  |  | 2023 |
|  | (in thousands, except share and per share data) |
DILUTED: CONTINUING OPERATIONS |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 1,093 |  |  | $ | (7,473 | )
Adjustment for change in fair value of warrant liabilities |  |  | (2,880 | ) |  |  | — |
Adjusted numerator - net loss from continuing operations |  | $ | (1,787 | ) |  | $ | (7,473 | )
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  |  | 6,068,019 |  |  |  | 5,482,037 |
Dilutive effect of warrants to purchase common stock |  |  | 3,028,862 |  |  |  | — |
Dilutive effect of unvested restricted stock and restricted stock units |  |  | 2,720 |  |  |  | — |
Diluted weighted-average common shares outstanding |  |  | 9,099,601 |  |  |  | 5,482,037 |
Per share calculation: |  |  |  |  |  |  |  |
Net loss per share from continuing operations |  | $ | (0.20 | ) |  | $ | (1.36 | )
DILUTED: DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income (loss) from discontinued operations, net of tax |  | $ | 381 |  |  | $ | (647 | )
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  |  | 6,068,019 |  |  |  | 5,482,037 |
Dilutive effect of warrants to purchase common stock |  |  | 3,028,862 |  |  |  | — |
Dilutive effect of unvested restricted stock and restricted stock units |  |  | 2,720 |  |  |  | — |
Diluted weighted-average common shares outstanding |  |  | 9,099,601 |  |  |  | 5,482,037 |
Per share calculation: |  |  |  |  |  |  |  |
Net income (loss) per share from discontinued operations, net of tax |  | $ | 0.04 |  |  | $ | (0.12 | )
DILUTED: NET INCOME (LOSS) |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 1,474 |  |  | $ | (8,120 | )
Adjustment for change in fair value of warrant liabilities |  |  | (2,880 | ) |  |  | — |
Adjusted numerator - net loss |  | $ | (1,406 | ) |  | $ | (8,120 | )
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  |  | 6,068,019 |  |  |  | 5,482,037 |
Dilutive effect of warrants to purchase common stock |  |  | 3,028,862 |  |  |  | — |
Dilutive effect of unvested restricted stock and restricted stock units |  |  | 2,720 |  |  |  | — |
Diluted weighted-average common shares outstanding |  |  | 9,099,601 |  |  |  | 5,482,037 |
Per share calculation: |  |  |  |  |  |  |  |
Net loss per share |  | $ | (0.15 | ) |  | $ | (1.48 | )
The following table sets forth securities that could be considered anti-dilutive, and therefore are excluded from the calculation of diluted weighted-average common shares outstanding and related per share calculations:
|  | Three Months Ended |
|  | September 30, |
|  | 2024 |  |  | 2023 |
Warrants to purchase common stock - liability classified (note 16) |  |  | 455,392 |  |  |  | 6,498,980 |
Warrants to purchase common stock - equity classified (note 16) |  |  | 18,114 |  |  |  | 39,072 |
Employee unvested restricted stock (note 15) |  |  | 10,644 |  |  |  | 46,656 |
Employee unvested restricted stock units (note 15) |  |  | 1,211 |  |  |  | 3,463 |
Employee stock options (note 15) |  |  | 141,439 |  |  |  | 162,683 |
Total anti-dilutive securities |  |  | 626,800 |  |  |  | 6,750,854 |

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