Stockholders' and Members' Equity (Tables)

9 Months Ended

Jun. 30, 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 nine months ended June 30, 2022:

	Restricted Stock Unit Awards
	Number of Units			Weighted Average Grant Date Fair Value ($)
Unvested at September 30, 2021		545,094		$	22.68
Awarded		173,697			39.95
Vested		(100,872	)		16.99
Forfeited		-			-
Unvested at June 30, 2022		617,919		$	28.46

Calculation of Earnings per share

The following table sets forth the calculation of earnings per share for the three months ended June 30, 2022 and 2021 (in thousands, except per share data):

Earnings per share:	Three Months Ended June 30, 2022		Three Months Ended June 30, 2021
Numerator:
Net income attributable to OneWater Inc.	$	55,977	$	34,503
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share		14,133		10,976
Effect of dilutive securities:
Restricted stock units		379		365
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share		14,512		11,341
Earnings per share of Class A common stock – basic	$	3.96	$	3.14
Earnings per share of Class A common stock – diluted	$	3.86	$	3.04

The following table sets forth the calculation of earnings per share for the nine months ended June 30, 2022 and 2021 (in thousands, except per share data):

Earnings per share:	Nine Months Ended June 30, 2022		Nine Months Ended June 30, 2021
Numerator:
Net income attributable to OneWater Inc.	$	112,293	$	62,765
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share		13,791		10,884
Effect of dilutive securities:
Restricted stock units		414		259
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share		14,205		11,143
Earnings per share of Class A common stock – basic	$	8.14	$	5.77
Earnings per share of Class A common stock – diluted	$	7.90	$	5.63

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 June 30, 2022		Three Months Ended June 30, 2021
Class B common stock		1,430		4,063
Restricted Stock Units		256		201
		1,686		4,264

	Nine Months Ended June 30, 2022		Nine Months Ended   June 30, 2021
Class B common stock		1,560		4,124
Restricted Stock Units		233		221
		1,793		4,345