NET (LOSS) INCOME PER SHARE

9 Months Ended

Jun. 30, 2022

NET (LOSS) INCOME PER SHARE

NET (LOSS) INCOME PER SHARE

3.          NET (LOSS) INCOME PER SHARE

The Company computes basic income (loss) per share using the weighted average number of common shares outstanding. The Company computes diluted earnings per share using the if-converted method for preferred shares and convertible debt, if any, and the treasury stock method for stock options and restricted stock units. Shares issuable upon exercise of 1,967,080 options and shares issuable upon vesting of 541,434 restricted stock units were not considered in computing diluted loss per share for the three and nine months ended June 30, 2022 because they were anti-dilutive. Additionally, there are 3,040,268 shares of common stock issuable upon conversion in connection with the convertible debt entered into on September 27, 2021. These shares were not considered in computing diluted loss per share for the three and nine months ended June 30, 2022 because they were anti-dilutive. Shares issuable upon the exercise of 671 options and seven common shares issuable upon conversion of preferred shares were not considered in computing diluted income per share for the three and nine months ended June 30, 2021 because they were anti-dilutive.

The following table reconciles the computation of basic net (loss) income per share to diluted net loss per share:

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Basic and diluted net (loss) income per share:
Net (loss) income applicable to common shareholders	$	(3,728)	$	2,602	$	(92,862)	$	1,513
Weighted average common shares outstanding (in thousands)
Basic		25,510		14,656		23,938		12,274
Diluted		25,510		15,383		23,938		12,948
Basic net (loss) income per share	$	(0.15)	$	0.18	$	(3.88)	$	0.12
Diluted net (loss) income per share	$	(0.15)	$	0.17	$	(3.88)	$	0.12