Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Schedule of Costs, Estimated Earnings and Billings on Longer-Term Contracts

Costs, estimated earnings and billings on longer-term contracts when the cost-to-cost method of revenue recognition is utilized as of June 30, 2024 and 2023 consisted of the following (in thousands):

June 30,	2024			2023
Costs incurred on uncompleted contracts	$	1,795		$	13,378
Estimated earnings		379			2,268
Less: billings to date		(1,190	)		(16,148	)
Retainage		238			1,015
Ending balance	$	1,222		$	513

Schedule of Consolidated Balance Sheets

These amounts are included in the Company’s consolidated balance sheets under the following captions (in thousands):

June 30,	2024		2023
Contract assets	$	1,222	$	1,181
Contract liabilities		-		(668	)
Ending balance	$	1,222	$	513

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share for fiscal 2024 and fiscal 2023 are computed as follows (in thousands, except per share data):

	For the years ended June 30,
	2024		2023
Net income	$	5,646	$	9,719
Less: distributed and undistributed income allocated to non-vested restricted common stock		717		1,193
Net income allocated to EVI Industries, Inc. shareholders	$	4,929	$	8,526
Weighted average shares outstanding used in basic earnings per share		12,650		12,553
Dilutive common share equivalents		568		251
Weighted average shares outstanding used in diluted earnings per share		13,218		12,804
Basic earnings per share	$	0.39	$	0.68
Diluted earnings per share	$	0.37	$	0.67