Earnings Per Share

9 Months Ended

Jun. 30, 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 June 30,				Nine months ended June 30,
	2023		2022		2023		2022
Numerator:


Net income	$	6,727	$	4,126	$	18,405	$	8,160

Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	35,889		35,131		35,761		34,900
Effect of dilutive securities:
Stock options and restricted stock units	928		609		1,077		840
Denominator for diluted net income per common share — adjusted weighted average shares	36,817		35,740		36,838		35,740




Net income per common share, basic	$	0.19	$	0.12	$	0.51	$	0.23



Net income per common share, diluted	$	0.18	$	0.12	$	0.50	$	0.23

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, 2023 and 2022, 599,957 and 939,101 shares outstanding were excluded, respectively.