Earnings Per Share

6 Months Ended

Mar. 31, 2022

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


	Three months ended March 31,				Six months ended March 31,
	2022		2021		2022		2021
Numerator:


Net income	$	2,847	$	2,928	$	4,034	$	2,621

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	35,015		30,900		34,785		30,129
Effect of dilutive securities:
Stock options and restricted stock units	593		1,323		925		1,307
Denominator for diluted net income per common share — adjusted weighted average shares	35,608		32,223		35,710		31,436




Net income per common share, basic	$	0.08	$	0.09	$	0.12	$	0.09



Net income per common share, diluted	$	0.08	$	0.09	$	0.11	$	0.08

Digi excludes certain stock options and restricted stock unit awards that would have an anti-dilutive effect on our diluted net income per share calculation. For the three months ended March 31, 2022 and 2021, 1,129,393 and 994,096 shares outstanding were excluded, respectively. For the six months ended March 31, 2022 and 2021, 735,611 and 864,744 were excluded, respectively.