NET LOSS PER SHARE

3 Months Ended

Jun. 30, 2023

Calculations of the basic and diluted net loss per share and potential common shares are as follows (in thousands, except for per share data):


	Three Months Ended
	June 30,
	2023		2022
Numerator:
Net loss	$	(4,200)	$	(7,132)
Denominator:
Denominator for basic net loss per share - weighted average common shares outstanding	71,540		72,452
Dilutive common equivalent shares:

Weighted average restricted stock units and performance-based restricted stock units	—		—
Denominator for diluted net loss per share - weighted average shares outstanding	71,540		72,452
Net loss per share:
Basic net loss per share	$	(0.06)	$	(0.10)
Diluted net loss per share	$	(0.06)	$	(0.10)

The following table sets forth restricted stock units excluded from the calculation of diluted net loss per share, since their inclusion would be anti-dilutive (in thousands):


	Three Months Ended
	June 30,
	2023	2022
Restricted stock units	1,455	1,735

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic earnings per share. Diluted net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, restricted shares and restricted stock units using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of proceeds from the assumed exercise of stock options and unrecognized compensation expense as additional proceeds. As the Company incurred a net loss during the three months ended June 30, 2023 and 2022, all outstanding restricted stock units and performance-based restricted stock units have an anti-dilutive effect and are therefore excluded from the computation of diluted weighted average shares outstanding.

The delivery of approximately 3.3 million shares under the Company's ASR agreements reduced the Company's outstanding shares used to determine the weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share for the three months ended June 30, 2022. See Note 15 for additional information.