Earnings Per Share
As discussed in Note 12 - Equity, the Company has Class A common stock and Class B common stock. Because the only differences between the two classes of common stock are related to voting rights, conversion rights and transfer restrictions applicable to shares of Class B common stock, the Company has not presented earnings per share under the two-class method, as the earnings per share are the same for both Class A common stock and Class B common stock. The following table summarizes the weighted-average number of basic common shares outstanding and the calculation of basic earnings per share for the periods presented (in thousands, except share and per share amounts):
For the Fiscal Year Ended September 30,
202520242023
Numerator
Net income attributable to common stockholders$101,781 $68,935 $49,001 
Denominator
Weighted average number of common shares outstanding, basic54,943,919 51,883,760 51,827,001 
Net income per common share attributable to common stockholders, basic$1.85 $1.33 $0.95 
The following table summarizes the calculation of the weighted-average number of diluted common shares outstanding and the calculation of diluted earnings per share for the periods presented (in thousands, except share and per share amounts):
For the Fiscal Year Ended September 30,
202520242023
Numerator
Net income attributable to common stockholders$101,781 $68,935 $49,001 
Denominator
Weighted average number of basic common
   shares outstanding, basic
54,943,919 51,883,760 51,827,001 
Effect of dilutive securities:
Restricted stock unit grants427,142 690,743 433,205 
Weighted average number of diluted common
   shares outstanding:
55,371,061 52,574,503 52,260,206 
Net income per diluted common share attributable
   to common stockholders
$1.84 $1.31 $0.94 
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Historical Timeline

Fiscal YearFiled
2025Nov 25, 2025Showing above
2024Nov 25, 2024
2023Nov 29, 2023
2022Nov 22, 2022
2021Nov 29, 2021
2020Dec 11, 2020
2019Dec 13, 2019
2018Dec 14, 2018

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.