NET LOSS PER SHARE

6 Months Ended

Dec. 31, 2023

NET LOSS PER SHARE

NET LOSS PER SHARE

NOTE 12 — NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares, 2021 PFWs and 2022 PFWs outstanding during the period, without consideration for other potentially dilutive securities. PFWs are included in the computation of basic and diluted net loss per share since the exercise price is negligible and all of the PFWs are fully vested and immediately exercisable. Accordingly, the weighted average number of shares outstanding is computed as follows for the three and six months ended December 31, 2023 and 2022 (in thousands):

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2023		2022		2023		2022
Common Stock		39,443		36,828		38,135		36,387
2021 PFWs		1,661		1,661		1,661		1,661
2022 PFWs:
Class A PFWs		1,974		1,974		1,974		1,974
Class B PFWs		8,330		10,947		9,639		10,947
Total		51,408		51,410		51,409		50,969

For the three and six months ended December 31, 2023 and 2022, basic and diluted net loss per share were the same since all other common stock equivalents were anti-dilutive.

As of December 31, 2023 and 2022, the following outstanding potential common stock equivalents were excluded from the computation of diluted net loss per share since the impact of inclusion was anti-dilutive (in thousands):

	2023	2022
Stock options	9,013	8,500
Other warrants	861	1,145
Total	9,874	9,645