v3.22.4
Net Income (Loss) Per Share (Tables)
6 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Income (Loss) Per Share, Basic and Diluted

The following table presents the calculation of net income (loss) used to calculate basic income (loss) and diluted income (loss) per share (in thousands):

 

 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income (loss) – basic

 

$

10,253

 

 

$

(12,156

)

 

$

(6,371

)

 

$

(29,666

)

Change in fair value of warrant liability

 

 

 

 

 

(5,458

)

 

 

 

 

 

(8,046

)

Net income (loss) – diluted

 

$

10,253

 

 

$

(17,614

)

 

$

(6,371

)

 

$

(37,712

)

Calculation of Weighted Average Shares Used to Calculate Basic and Diluted Income (Loss) Earnings Per Share

Share used in calculating net income (loss) per share was determined as follows (in thousands):

 

 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Weighted average shares used in calculating basic net income (loss) per share

 

 

133,261

 

 

 

126,725

 

 

 

133,258

 

 

 

115,982

 

Effect of potentially dilutive common shares from equity awards and liability-classified warrants

 

 

 

 

 

1,435

 

 

 

 

 

 

2,675

 

Weighted average shares used in calculating diluted net income (loss) per share

 

 

133,261

 

 

 

128,160

 

 

 

133,258

 

 

 

118,657

 

Antidilutive Securities

The following table presents weighted average potentially dilutive shares that have been excluded from the calculation of net income (loss) per share because of their anti-dilutive effect (in thousands):

 

 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Stock options

 

 

27,452

 

 

 

20,460

 

 

 

27,606

 

 

 

20,671

 

Warrants

 

 

16,059

 

 

 

 

 

 

16,059

 

 

 

 

Restricted stock units

 

 

 

 

 

229

 

 

 

5

 

 

 

244

 

Total anti-dilutive shares

 

 

43,511

 

 

 

20,689

 

 

 

43,670

 

 

 

20,915