Earnings Per Share

6 Months Ended

Mar. 31, 2022

15. EARNINGS PER SHARE

The Company computes earnings per common share (“EPS”) under the two-class method which requires the allocation of all distributed and undistributed earnings attributable to the Company to common stock and other participating securities based on their respective rights to receive distributions of earnings or losses. The Company’s Class A common stock and Class B common stock equally share in distributed and undistributed earnings, therefore, no allocation to participating securities or dilutive securities is performed.

Basic EPS attributable to common stockholders is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding. Diluted EPS is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury-stock method. For purposes of the diluted EPS calculation, restricted stock awards, restricted stock units and options to purchase shares of common stock are considered

to be potential common shares. The following table sets forth the computation of the Company’s basic and diluted EPS attributable to common stockholders (in thousands, except share and per share amounts):

	Three Months Ended March 31,				Six Months Ended March 31,
	2022		2021		2022		2021
Numerator:
Net income (loss)	$	35,818	$	22,640	$	52,525	$	32,788
Net income (loss) attributable to common stockholders- basic and diluted	$	35,818	$	22,640	$	52,525	$	32,788
Denominator:
Weighted-average shares of common stock
Basic		154,661,277		153,509,612		154,551,589		153,366,516
Diluted		156,121,476		156,747,514		156,560,502		156,377,902
Net income (loss) per share attributable to common stockholders:
Net income (loss) per common share - basic	$	0.23	$	0.15	$	0.34	$	0.21
Net income (loss) per common share - diluted	$	0.23	$	0.14	$	0.34	$	0.21

The following table includes the number of shares that may be dilutive common shares in the future, and were not included in the computation of diluted net income (loss) per share because the effect was anti-dilutive:

	Three Months Ended March 31,				Six Months Ended March 31,
	2022		2021		2022		2021
Stock Options		535,161		117,989		388,946		76,498
Restricted Stock Units		303,624		2,607		204,607		1,289