Stockholders' and Members' Equity (Tables)

3 Months Ended

Dec. 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 three months ended December 31, 2022:

	Restricted Stock Unit Awards
	Number of Shares			Weighted Average Grant Date Fair Value ($)
Unvested at September 30, 2022		559,793		$	28.01
Awarded		214,149			30.11
Vested		(111,075	)		24.62
Forfeited		(1,000	)		40.21
Unvested at December 31, 2022		661,867		$	29.24

Calculation of Earnings per share

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

Earnings per share:	Three Months Ended December 31, 2022		Three Months Ended December 31, 2021
Numerator:
Net income attributable to OneWater Inc.	$	8,900	$	20,019
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share		14,297		13,380
Effect of dilutive securities:
Restricted stock units		284		381
Employee Stock Purchase Plan		6		-
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share		14,587		13,761
Earnings per share of Class A common stock – basic	$	0.62	$	1.50
Earnings per share of Class A common stock – diluted	$	0.61	$	1.45

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 December 31, 2022		Three Months Ended December 31, 2021
Class B common stock		1,430		1,815
Restricted Stock Units		377		233
		1,807		2,048

Weighted Average Assumptions

The following are the weighted-average assumptions used for the period ended December 31, 2022:

	2022
Dividend yield		0.0	%
Risk-free interest rate		2.5	%
Volatility		57.4	%
Expected life	Six months