Net Earnings (Loss) Per Share

9 Months Ended

Mar. 31, 2025

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 March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
Basic:
Net income (loss) attributable to Malibu Boats, Inc.	$	12,890	$	(66,831)	$	10,205	$	(36,691)
Shares used in computing basic net income (loss) per share:
Weighted-average Class A Common Stock	19,265,683		20,123,229		19,491,093		20,183,193
Weighted-average participating restricted stock units convertible into Class A Common Stock	291,889		275,789		285,434		270,758
Basic weighted-average shares outstanding	19,557,572		20,399,018		19,776,527		20,453,951
Basic net income (loss) per share	$	0.66	$	(3.28)	$	0.52	$	(1.79)

Diluted:
Net income (loss) attributable to Malibu Boats, Inc.	$	12,890	$	(66,831)	$	10,205	$	(36,691)


Shares used in computing diluted net income (loss) per share:
Basic weighted-average shares outstanding	19,557,572		20,399,018		19,776,527		20,453,951
Restricted stock units granted to employees	19,010		—		25,407		—
Stock options granted to employees	—		—		470		—
Market performance awards granted to employees	4,825		—		6,270		—
Diluted weighted-average shares outstanding 1	19,581,407		20,399,018		19,808,674		20,453,951
Diluted net income (loss) per share	$	0.66	$	(3.28)	$	0.52	$	(1.79)

1 The Company excluded (i) 517,936 and 652,636 potentially dilutive shares from the calculation of diluted net income (loss) per share for the three months ended March 31, 2025 and 2024, respectively, and (ii) 552,259 and 603,437 potentially dilutive shares from the calculation of diluted net income (loss) per share for the nine months ended March 31, 2025 and 2024, 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.