Stockholders' and Members' Equity (Tables)

6 Months Ended

Mar. 31, 2023

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, 2023:

	Restricted Stock Unit Awards
	Number of Shares	Weighted Average Grant Date Fair Value
Unvested at September 30, 2022	559,793	$	28.01
Awarded	216,771	30.08
Vested	(151,393)	22.61
Forfeited	(1,000)	40.21
Unvested at March 31, 2023	624,171	$	30.02

Summary of Calculation of Earnings per share

The following table sets forth the calculation of earnings per share for the three months ended March 31, 2023 and 2022 (in thousands, except per share data):

Earnings per share:	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Numerator:
Net income attributable to OneWater Inc.	$	22,804	$	36,297
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share	14,340		13,864
Effect of dilutive securities:
Restricted stock units	315		408
Employee Stock Purchase Plan	-		-
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share	14,655		14,272
Earnings per share of Class A common stock – basic	$	1.59	$	2.62
Earnings per share of Class A common stock – diluted	$	1.56	$	2.54

The following table sets forth the calculation of earnings per share for the six months ended March 31, 2023 and 2022 (in thousands, except per share data):

Earnings per share:	Six Months Ended March 31, 2023		Six Months Ended March 31, 2022
Numerator:
Net income attributable to OneWater Inc.	$	31,704	$	56,316
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net income per share	14,318		13,619
Effect of dilutive securities:
Restricted stock units	291		398
Employee Stock Purchase Plan	3		-
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share	14,612		14,017
Earnings per share of Class A common stock – basic	$	2.21	$	4.14
Earnings per share of Class A common stock – diluted	$	2.17	$	4.02

Summary of 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, 2023	Three Months Ended March 31, 2022
Class B common stock	1,430	1,430
Restricted Stock Units	290	199
	1,720	1,629

	Six Months Ended March 31, 2023	Six Months Ended March 31, 2022
Class B common stock	1,430	1,625
Restricted Stock Units	322	217
	1,752	1,842

Summary of Weighted Average Assumptions

The following are the weighted-average assumptions used for the period ended March 31, 2023:

	2023
Dividend yield	0.0	%
Risk-free interest rate	4.8	%
Volatility	45.6	%
Expected life	Six months