Earnings Per Share

9 Months Ended

Jun. 30, 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 June 30,				Nine months ended June 30,
	2022		2021		2022		2021
Numerator:


Net income	$	4,126	$	3,157	$	8,160	$	5,778

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	35,131		34,057		34,900		31,443
Effect of dilutive securities:
Stock options and restricted stock units	609		1,091		840		1,263
Denominator for diluted net income per common share — adjusted weighted average shares	35,740		35,148		35,740		32,706




Net income per common share, basic	$	0.12	$	0.09	$	0.23	$	0.18



Net income per common share, diluted	$	0.12	$	0.09	$	0.23	$	0.18

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 June 30, 2022 and 2021, 939,101 and 994,096 shares outstanding were excluded, respectively. For the nine months ended June 30, 2022 and 2021, 778,573 and 864,744 were excluded, respectively.