Earnings Per Share

12 Months Ended

Sep. 30, 2021

The Company calculates basic EPS by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period, excluding unvested restricted stock awards.

The Company calculates diluted net income (loss) per share by dividing net income (loss) by the weighted-average number of common shares and potentially dilutive common shares outstanding during the reporting period using the treasury stock method.

The Company's potentially dilutive common shares include stock options, restricted stock units, and restricted stock awards. For such awards that have performance- or market-conditions, they are considered dilutive only when those performance- or market-conditions have been satisfied as of the reporting date. However, in periods of a net loss, the Company's diluted EPS will equal its basic EPS, as all its potential common shares are anti-dilutive in that case. In periods of net income, the calculation of diluted net income per share will exclude all anti-dilutive common shares.

The computation of basic and diluted net income per share is as follows:


	Year Ended September 30,
	2021		2020		2019
Numerator:
Net income (loss)	$	50,949	$	(3,774)	$	(19,260)
Denominator:
Basic weighted average shares outstanding	33,333,557		33,612,263		33,062,976
Dilutive impact of stock options, RSUs and RSAs	1,690,551		—		—
Diluted weighted average shares outstanding	35,024,108		33,612,263		33,062,976
Basic income (loss) per common share	$	1.53	$	(0.11)	$	(0.58)
Diluted income (loss) per common share	$	1.45	$	(0.11)	$	(0.58)
Stock options, RSUs and RSAs excluded from income (loss) per diluted share because their effect would have been anti-dilutive	420,454		3,526,055		4,621,199