Earnings Per Share

3 Months Ended

Dec. 31, 2021

The following table is a reconciliation of the numerators and denominators in the net income (loss) per common share calculations (in thousands, except per common share data):


	Three months ended December 31,
	2021		2020
Numerator:


Net income (loss)	$	1,187	$	(307)

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	34,560		29,374
Effect of dilutive securities:
Stock options and restricted stock units	1,207		—
Denominator for diluted net income per common share — adjusted weighted average shares	35,767		29,374




Net income (loss) per common share, basic	$	0.03	$	(0.01)



Net income (loss) per common share, diluted	$	0.03	$	(0.01)

For the three months ended December 31, 2021 and 2020, there were 35,160 and 547,045 potentially dilutive shares, respectively. These potentially dilutive shares were related to stock options to purchase common shares that were not included in the above computation of diluted earnings per common share since the options' exercise prices were greater than the average market price of our common shares. In addition, due to the net loss for the three months ended December 31, 2020, there were 1,157,727 common stock options and restricted stock units that were not included in the above computation of diluted earnings per share.