Earnings Per Share

6 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

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,
	2024		2023		2024		2023
Numerator:
Net income	$	3,994	$	5,899	$	940	$	11,678
Denominator:
Denominator for basic net income per common share — weighted average shares outstanding	36,296		35,791		36,212		35,698
Effect of dilutive securities:
Stock options and restricted stock units	678		939		643		1,123
Denominator for diluted net income per common share — adjusted weighted average shares	36,974		36,730		36,855		36,821
Net income per common share, basic	$	0.11	$	0.16	$	0.03	$	0.33
Net income per common share, diluted	$	0.11	$	0.16	$	0.03	$	0.32

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, 2024 and 2023, 583,062 and 609,017 shares outstanding were excluded, respectively. For the six months ended March 31, 2024 and 2023, 676,465 and 416,307 shares outstanding were excluded, respectively.