Stockholders' and Members' Equity (Tables)

6 Months Ended

Mar. 31, 2022

Stockholders' and Members' Equity [Abstract]

Summary of Restricted Stock Units Activity

The following table further summarizes activity related to restricted stock units for the six months ended March 31, 2022:

	Restricted Stock Unit Awards
	Number of Units			Weighted Average Grant Date Fair Value ($)
Unvested at September 30, 2021		545,094		$	22.68
Awarded		160,573			40.44
Vested		(100,872	)		16.99
Forfeited		-			-
Unvested at March 31, 2022		604,795		$	28.34

Calculation of Earnings per share

The following table sets forth the calculation of earnings per share for the three months ended March 31, 2022 and 2021 (in thousands, except per share data):

Earnings per share:	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Numerator:
Net income attributable to OneWater Inc.	$	36,297	$	20,475
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share		13,864		10,901
Effect of dilutive securities:
Restricted stock units		408		270
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share		14,272		11,171
Earnings per share of Class A common stock – basic	$	2.62	$	1.88
Earnings per share of Class A common stock – diluted	$	2.54	$	1.83

The following table sets forth the calculation of earnings per share for the six months ended March 31, 2022 and 2021 (in thousands, except per share data):

Earnings per share:	Six Months Ended March 31, 2022		Six Months Ended March 31, 2021
Numerator:
Net income attributable to OneWater Inc.	$	56,316	$	28,263
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share		13,619		10,838
Effect of dilutive securities:
Restricted stock units		398		245
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share		14,017		11,083
Earnings per share of Class A common stock – basic	$	4.14	$	2.61
Earnings per share of Class A common stock – diluted	$	4.02	$	2.55

Antidilutive Securities Excluded From Calculation

The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted earnings per share because the effect of including such potentially dilutive shares would have been antidilutive upon conversion (in thousands):

	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Class B common stock		1,430		4,108
Restricted Stock Units		199		143
		1,629		4,251

	Six Months Ended March 31, 2022		Six Months Ended   March 31, 2021
Class B common stock		1,625		4,154
Restricted Stock Units		217		173
		1,842		4,327