Net Earnings (Loss) Per Share

6 Months Ended

Dec. 31, 2024

Basic net income (loss) per share of Class A Common Stock is computed by dividing net income (loss) attributable to the Company's earnings by the weighted-average number of shares of Class A Common Stock outstanding during the period. The weighted-average number of shares of Class A Common Stock outstanding used in computing basic net income (loss) per share includes fully vested restricted stock units awarded to directors that are entitled to participate in distributions to common stockholders through receipt of additional units of equivalent value to the dividends paid to Class A Common stockholders.

Diluted net income (loss) per share of Class A Common Stock is computed similarly to basic net income (loss) per share except the weighted-average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents using the treasury method, if dilutive. The Company's LLC Units and non-qualified stock options are considered common stock equivalents for this purpose. The number of additional shares of Class A Common Stock related to these common stock equivalents and stock options are calculated using the treasury stock method.

Stock awards with a performance condition that are based on the attainment of a specified amount of earnings are only included in the computation of diluted earnings per share to the extent that the performance condition would be achieved based on the current amount of earnings, and only if the effect would be dilutive.

Stock awards with a market condition that are based on the performance of the Malibu Boats, Inc.'s stock price in relation to a market index over a specified time period are only included in the computation of diluted earnings per share to the extent that the shares would be issued based on the current market price of the Malibu Boats, Inc.'s stock in relation to the market index, and only if the effect would be dilutive.

Basic and diluted net income (loss) per share of Class A Common Stock has been computed as follows (in thousands, except share and per share amounts):


	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Basic:
Net income (loss) attributable to Malibu Boats, Inc.	$	2,363	$	9,881	$	(2,685)	$	30,140
Shares used in computing basic net (loss) income per share:
Weighted-average Class A Common Stock	19,455,147		20,103,458		19,601,348		20,212,849
Weighted-average participating restricted stock units convertible into Class A Common Stock	286,360		272,292		282,277		268,270
Basic weighted-average shares outstanding	19,741,507		20,375,750		19,883,625		20,481,119
Basic net income (loss) per share	$	0.12	$	0.49	$	(0.14)	$	1.47

Diluted:
Net income (loss) attributable to Malibu Boats, Inc.	$	2,363	$	9,881	$	(2,685)	$	30,140


Shares used in computing diluted net income (loss) per share:
Basic weighted-average shares outstanding	19,741,507		20,375,750		19,883,625		20,481,119
Restricted stock units granted to employees	47,484		24,108		—		44,613
Stock options granted to employees	1,409		3,899		—		4,654
Market performance awards granted to employees	13,984		46,447		—		36,832
Diluted weighted-average shares outstanding 1	19,804,384		20,450,204		19,883,625		20,567,218
Diluted net income (loss) per share	$	0.12	$	0.49	$	(0.14)	$	1.47

1 The Company excluded (i) 433,699 and 597,673 potentially dilutive shares from the calculation of diluted net income (loss) per share for the three months ended December 31, 2024 and 2023, respectively, and (ii) 569,421 and 533,968 potentially dilutive shares from the calculation of diluted net (loss) income per share for the six months ended December 31, 2024 and 2023, respectively.

The shares of Class B Common Stock do not share in the earnings or losses of Malibu Boats, Inc. and are therefore not included in the calculation. Accordingly, basic and diluted net income (loss) per share of Class B Common Stock have not been presented.