Earnings Per Share

6 Months Ended

Mar. 31, 2026

Earnings per Share

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

The Company calculates diluted EPS by dividing net income 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:


	Three months ended March 31,				Six Months Ended March 31,
	2026		2025		2026		2025
Numerator:
Net income	$	7,522	$	7,051	$	15,011	$	12,861
Denominator:
Basic weighted average shares outstanding		31,056,892		31,012,087		30,844,713		30,825,231
Dilutive impact of stock options, RSUs and RSAs		1,427,578		1,506,585		1,454,476		1,444,994
Diluted weighted average shares outstanding		32,484,470		32,518,672		32,299,189		32,270,225
Basic income per common share	$	0.24	$	0.23	$	0.49	$	0.42
Diluted income per common share	$	0.23	$	0.22	$	0.46	$	0.40
Stock options, RSUs and RSAs excluded from income per diluted share because their effect would have been anti-dilutive		309,910		1,230,828		316,989		1,357,242