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Earnings Per Share | 6 Months Ended
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Mar. 31, 2025
Earnings Per Share |
Earnings Per Share | 5. Earnings Per Share ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​ | Six Months Ended March 31, | ​
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 5,336,342 | ​ | $ | 1,208,316 | ​ | $ | 6,072,534 | ​ | $ | 2,265,666 | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic weighted average shares | ​ |  | 17,548,844 | ​ |  | 17,456,120 | ​ |  | 17,531,328 | ​ |  | 17,453,741 | ​
Dilutive effect of share-based awards | ​ |  | 95,150 | ​ |  | 31,407 | ​ |  | 82,358 | ​ |  | 27,476 | ​
Diluted weighted average shares | ​ |  | 17,643,994 | ​ |  | 17,487,527 | ​ |  | 17,613,686 | ​ |  | 17,481,217 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income per common share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.30 | ​ | $ | 0.07 | ​ | $ | 0.35 | ​ | $ | 0.13 | ​
Diluted | ​ | $ | 0.30 | ​ | $ | 0.07 | ​ | $ | 0.34 | ​ | $ | 0.13 | ​
​ Net income per share is calculated pursuant to ASC Topic 260, “Earnings per Share”. Basic EPS excludes potentially dilutive securities and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed assuming the conversion, or exercise of all dilutive securities such as employee stock options MSUs and RSUs. The number of incremental shares from the assumed exercise of time vested stock options , MSOs, and RSUs is calculated by using the treasury stock method. The number of incremental shares from assumed vestings of MSUs is calculated using the ‘if-converted method.’ As of March 31, 2025 no outstanding MSUs were included in the three and six months ended March 31, 2025 weighted-average diluted shares calculation using the if converted method. As of March 31, 2025 and 2024, there were 433,655 and 297,014 options to purchase common stock outstanding, respectively, and 201,000 and 0 MSUs subject to vesting outstanding, respectively. As of March 31, 2025 and 2024, there were 194,914 and 173,555 shares of restricted stock units subject to vesting outstanding, respectively. The weighted average outstanding diluted shares calculation excludes time vested options and MSOs with an exercise price that exceeds the average market price of shares during the period. Additionally, the weighted-average diluted shares calculation excludes RSUs that are deemed anti-dilutive when applying the treasury stock method. For the three months ended March 31, 2025 and 2024, respectively, 136,613 and 243,749 diluted weighted-average shares outstanding were excluded from the computation of diluted EPS because the effect would be anti-dilutive. For the six months ended March 31, 2025 and 2024, respectively, 249,113 and 228,579 diluted weighted-average shares outstanding were excluded from the computation of diluted EPS because the effect would be anti-dilutive.

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