Stockholders’ Equity (Tables)

6 Months Ended

Mar. 31, 2024

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, 2024:

	Restricted Stock Unit Awards
	Number of Shares	Weighted Average Grant Date Fair Value
Unvested at September 30, 2023	524,785	$	28.86
Awarded	346,481	25.62
Vested	(227,790)	25.07
Forfeited	—	—
Unvested at March 31, 2024	643,476	$	28.46

Summary of Calculation of Net (Loss) Earnings Per Share

The following table sets forth the calculation of net (loss) earnings per share for the three months ended March 31, 2024 and 2023 (in thousands, except per share data):

Net (loss) earnings per share:	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Numerator:
Net (loss) income attributable to OneWater Inc	$	(3,969)	$	22,804
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net (loss) income per share	14,579		14,340
Effect of dilutive securities:
Restricted stock units	-		315
Employee stock purchase plan	-		-
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted net (loss) earnings per share	14,579		14,655
Net (loss) earnings per share of Class A common stock – basic	$	(0.27)	$	1.59
Net (loss) earnings per share of Class A common stock – diluted	$	(0.27)	$	1.56

The following table sets forth the calculation of net (loss) earnings per share for the six months ended March 31, 2024 and 2023 (in thousands, except per share data):

Net (loss) earnings per share:	Six Months Ended March 31, 2024		Six Months Ended March 31, 2023
Numerator:
Net (loss) income attributable to OneWater Inc	$	(11,139)	$	31,704
Denominator:
Weighted-average number of unrestricted outstanding common shares used to calculate basic net (loss) income per share	14,559		14,318
Effect of dilutive securities:
Restricted stock units	-		291
Employee stock purchase plan	-		3
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted net (loss) earnings per share	14,559		14,612
Net (loss) earnings per share of Class A common stock – basic	$	(0.77)	$	2.21
Net (loss) earnings per share of Class A common stock – diluted	$	(0.77)	$	2.17

Summary of Antidilutive Securities Excluded From Calculation

The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net (loss) 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, 2024	Three Months Ended March 31, 2023
Class B common stock	1,430	1,430
Restricted Stock Units	480	290
Employee Stock Purchase Plan	26	-
	1,936	1,720

	Six Months Ended March 31, 2024	Six Months Ended March 31, 2023
Class B common stock	1,430	1,430
Restricted Stock Units	488	322
Employee Stock Purchase Plan	26	-
	1,944	1,752

Summary of Weighted Average Assumptions

The following are the assumptions used for the periods ended March 31, 2024 and 2023:

	2024		2023
Dividend yield	0.0	%	0.0	%
Risk-free interest rate	5.2 - 5.5%		4.8	%
Volatility	37.6 - 62.7%		45.6	%
Expected life	Six months		Six months