Net Income (Loss) Per Common Share

9 Months Ended

Mar. 31, 2023

Note 12. Net Income (Loss) Per Common Share

The Company reports both basic and diluted net income (loss) per share, which is based on the weighted average number of common shares outstanding during the period. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per common share follows (in thousands, except for per share amounts):


	Three Months Ended March 31,					Nine Months Ended March 31,
	2023		2022			2023			2022
Numerator:
Net income (loss)	$	599	$	(1,046	)	$	(6,724	)	$	(1,895	)
Denominator:
Weighted average shares outstanding - basic		95,522		92,761			94,532			91,780
Dilutive effect of potential common shares		1,933		—			—			—
Weighted average shares outstanding - diluted		97,455		92,761			94,532			91,780
Basic net income (loss) per share	$	0.01	$	(0.01	)	$	(0.07	)	$	(0.02	)
Diluted net income (loss) per share	$	0.01	$	(0.01	)	$	(0.07	)	$	(0.02	)
Anti-dilutive share-based awards, excluded		6,495		10,739			14,402			10,739

The potentially dilutive shares of the Company’s common stock are excluded from the computation of diluted net income (loss) per share when their effect would have been anti‑dilutive. Additionally, the outstanding 3.75% Convertible Notes due 2022 and the 3.75% Convertible Notes due 2026 (collectively, the “Notes”) are included in the calculation of diluted net income (loss) per share only if their inclusion is dilutive for periods during which the Notes were outstanding. The shares of common stock issuable upon conversion of the outstanding principal amount of the Notes as of three and nine months ended March 31, 2023 and March 31, 2022, totaled approximately 17.1 million shares and 17.6 million shares, respectively, and were not included in the basic and diluted net loss per common share as the effect of adding the shares were anti-dilutive.