Net Income per Share
The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock for the periods indicated:
Year Ended December 31,Six Months Ended December 31, 2023Year Ended June 30, 2023
20252024
Numerator
Net income$64,364 $54,805 $28,297 $44,604 
Allocation of earnings to participating securities(661)(541)(219)(411)
Numerator for basic and diluted EPS - net income available to common stockholders$63,703 $54,264 $28,078 $44,193 
Denominator
Weighted-average common shares outstanding - basic16,987,894 16,914,741 16,806,273 15,698,618 
Dilutive effect of assumed exercise of stock options118,889 62,589 7,903 82,888 
Weighted-average common shares outstanding - diluted17,106,783 16,977,330 16,814,176 15,781,506 
Net income per share - basic$3.75 $3.21 $1.67 $2.82 
Net income per share - diluted$3.72 $3.20 $1.67 $2.80 
Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were 0 and 43,450 stock options that were anti-dilutive as of December 31, 2025 and 2024, respectively.

Historical Timeline

Fiscal YearFiled
2025Mar 13, 2026Showing above
2024Mar 13, 2025
2023Sep 11, 2023
2022Sep 12, 2022
2021Sep 10, 2021

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.