| Reconciliation of Basic and Diluted Net Income (Loss) Per Share |
The following presents a reconciliation of basic and diluted net income (loss) per share:
| | | | | | | | | | | | | |
| |
| Years Ended March 31, |
|
| |
| |
2026
| |
| |
2025
| |
| |
2024
| |
|
Net income (loss)
|
| $ | 12,394,000 | |
| $ | (19,470,000 | ) |
| $ | (49,244,000 | ) |
| |
| | | |
| | | |
| | | |
|
Basic shares
|
| | 19,304,105 | |
| | 19,685,322 | |
| | 19,601,204 | |
|
Dilutive effect of share-based awards
|
| | 674,965 | |
| | - | |
| | - | |
|
Diluted shares
|
| | 19,979,070 | |
| | 19,685,322 | |
| | 19,601,204 | |
|
Net income (loss) per share:
|
| | | |
| | | |
| | | |
|
Basic net income (loss) per share
|
| $ | 0.64 | |
| $ | (0.99 | ) |
| $ | (2.51 | ) |
|
Diluted net income (loss) per share
|
| $ | 0.62 | |
| $ | (0.99 | ) |
| $ | (2.51 | ) |
| |
| | | |
| | | |
| | | |
|
Anti-dilutive shares (excluded from per-share calculations):
|
| | | |
| | | |
| | | |
|
Outstanding share-based awards
|
| | 982,116 | |
| | 2,323,321 | |
| | 2,122,863 | |
|
Dilutive effect of Convertible Notes under the "if-converted" method
|
| | 2,743,359 | |
| | 2,493,963 | |
| | 1,693,778 | |
|
| Gain on Equity Investments |
The following summarizes the gain on the Company’s equity investments:
| |
| Years Ended March 31, |
|
| |
| |
2026
| |
| |
2025
| |
| |
2024
| |
|
Net gain recognized on equity securities
|
| $ | 252,000 | |
| $ | 105,000 | |
| $ | 347,000 | |
|
Less: net gain recognized on equity securities sold
|
| | 27,000 | |
| | 8,000 | |
| | 74,000 | |
|
Unrealized gain recognized on equity securities still held
|
| $ | 225,000 | |
| $ | 97,000 | |
| $ | 273,000 | |
|