Earnings Per Share

6 Months Ended

Mar. 31, 2023

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,
	2023		2022		2023		2022
Numerator:


Net income	$	5,899	$	2,847	$	11,678	$	4,034

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	35,791		35,015		35,698		34,785
Effect of dilutive securities:
Stock options and restricted stock units	939		593		1,123		925
Denominator for diluted net income per common share — adjusted weighted average shares	36,730		35,608		36,821		35,710




Net income per common share, basic	$	0.16	$	0.08	$	0.33	$	0.12



Net income per common share, diluted	$	0.16	$	0.08	$	0.32	$	0.11

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, 2023 and 2022, 609,017 and 1,129,393 shares outstanding were excluded, respectively.