Earnings Per Share

9 Months Ended

Jun. 30, 2026

Basic (loss) income per share is calculated by dividing net (loss) income by the weighted-average number of shares outstanding during the period. Diluted (loss) income per share adjusts the basic (loss) income per share for the effects of any potentially dilutive securities in periods in which the Company has net income and such effects are dilutive under the treasury stock method.

Following is a summary of the components of basic and diluted (loss) income per share for the periods presented:


	Three Months Ended June 30,				Nine Months Ended June 30,
in thousands (except per share data)	2026		2025		2026		2025
Numerator:
Net (loss) income	$	(4,227)	$	(324)	$	(37,728)	$	15,584

Denominator:
Basic weighted-average shares	26,510		29,440		27,813		29,996
Dilutive effect of restricted stock awards	—		—		—		240
Dilutive effect of stock options	—		—		—		2
Diluted weighted-average shares(a)	26,510		29,440		27,813		30,238

(Loss) income per share:
Basic	$	(0.16)	$	(0.01)	$	(1.36)	$	0.52
Diluted	$	(0.16)	$	(0.01)	$	(1.36)	$	0.52

(a) The following potentially dilutive shares were excluded from the calculation of diluted (loss) income per share as a result of their anti-dilutive effect. Due to the reported net loss for the three and nine months ended June 30, 2026 and the three months ended June 30, 2025, all common stock equivalents were excluded from the computation of diluted loss per share for that respective period because inclusion would have resulted in anti-dilution.


	Three Months Ended June 30,		Nine Months Ended June 30,
in thousands	2026	2025	2026	2025
Stock options	22	2	22	1
Time-based restricted stock	565	370	565	110
Performance-based restricted stock	336	307	336	2