Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share is computed by dividing net income by the weighted average number of common shares outstanding during the period after giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of stock options and stock appreciation rights as determined under the treasury stock method.

The following table provides a reconciliation of the net income (loss) per basic and diluted common share outstanding:

For the three months ended June 30, 2023, approximately 16.9 million potentially dilutive instruments were excluded from the computation of net income per diluted weighted average common share outstanding because their effect would have been anti-dilutive. Due to our net loss for the three months ended June 30, 2022 and the nine months ended June 30, 2023 and 2022, all potentially dilutive instruments were excluded because their inclusion would have been anti-dilutive. See Note 10 for a discussion of our potentially dilutive common shares.