Net Loss Per Share Data

6 Months Ended

Mar. 31, 2023

9. Net Loss Per Share Data

Basic net loss per common share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the weighted average number of common and common equivalent shares outstanding during the period. The Company’s potentially dilutive common shares are those that result from dilutive common stock options and non-vested stock relating to restricted stock awards and restricted stock units. The calculation of diluted loss per share excluded 0.1 million in weighted-average shares for each of the three months ended March 31, 2023 and 2022 and 0.1 million and 0.2 million weighted-average shares for the six months ended March 31, 2023 and 2022, respectively, as their effect was anti-dilutive as a result of the net loss incurred for those periods. Therefore, diluted weighted average number of shares outstanding and diluted net loss per share were the same as basic weighted average number of shares outstanding and net loss per share for the three and six months ended March 31, 2023 and 2022.

The following table presents the denominator for the computation of diluted weighted average shares outstanding:


	Three Months Ended March 31,				Six Months Ended March 31,
(In thousands)	2023		2022		2023		2022
Basic weighted average shares outstanding		14,030		13,917		14,010		13,896
Dilutive effect of outstanding stock options, non-vested restricted stock, and non-vested restricted stock units		—		—		—		—
Diluted weighted average shares outstanding		14,030		13,917		14,010		13,896