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Basic and Diluted Net Income per Share
 3 Months Ended
Jan. 31, 2023
Earnings Per Share [Abstract]  
Basic and Diluted Net Income (Loss) per Share Basic and Diluted Net Income (Loss) Per Share
Basic net income (loss) per common share is calculated using the weighted-average number of common shares outstanding during the period without consideration of the dilutive effect of conversion of preferred stock. Diluted net income (loss) per common share is calculated using the weighted-average number of common shares outstanding during the period plus the dilutive effect of unvested, restricted stock and conversion of preferred stock. The computations for basic and diluted net income (loss) per common share are as follows (in thousands, except per share amounts):
 Three Months Ended
January 31,
 20232022
Basic net income (loss) per common share:
Net income (loss) applicable to common stock$15,506 $(6,643)
Effect of unvested, restricted stock(161)(13)
Numerator: Net income (loss) for basic EPS15,345 (6,656)
Denominator: Weighted average common shares-basic17,573 17,448 
Basic net income (loss) per common share$0.87 $(0.38)
Diluted net income (loss) per common share:
Net income (loss) for basic EPS$15,345 $(6,656)
Effect of dilutive preferred stock125 — 
Numerator: Net income (loss) for diluted EPS15,470 (6,656)
Weighted average common shares–basic17,573 17,448 
Effect of dilutive preferred stock805 — 
Denominator: Weighted average common shares–diluted18,378 17,448 
Diluted net income (loss) per common share$0.84 $(0.38)
Diluted net income (loss) per common share is computed using the more dilutive method of either the two-class method or the treasury stock method. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends as participating shares are included in computing earnings per share. The Company’s unvested, restricted stock awards qualify as participating shares. Diluted net income per common share was calculated under the two-class method for the three months ended January 31, 2023 and 2022.