(Loss) Earnings per Share

6 Months Ended

Mar. 31, 2023

NOTE 3: (LOSS) EARNINGS PER SHARE

The following table reconciles the number of common shares used to compute basic and diluted (loss) earnings per share attributable to EZCORP Inc., shareholders:


	Three Months Ended March 31,				Six Months Ended March 31,
(in thousands, except per share amounts)	2023		2022		2023		2022

Basic (loss) earnings per common share:
Net (loss) income - basic	$	(6,790)	$	14,887	$	9,988	$	30,608
Weighted shares outstanding - basic	55,648		56,561		55,981		56,370
Basic (loss) earnings per common share	$	(0.12)	$	0.26	$	0.18	$	0.54

Diluted (loss) earnings per common share:
Net (loss) income - basic	$	(6,790)	$	14,887	$	9,988	$	30,608
Add: Convertible Notes interest expense, net of tax*	—		1,846		(2,733)		3,730



Net (loss) income - diluted	$	(6,790)	$	16,733	$	7,255	$	34,338
Weighted shares outstanding - basic	55,648		56,561		55,981		56,370
Equity-based compensation awards - effect of dilution**	—		622		1,067		676
Convertible Notes - effect of dilution	—		25,224		8,221		25,224



Weighted shares outstanding - diluted	55,648		82,407		65,269		82,270
Diluted (loss) earnings per common share	$	(0.12)	$	0.20	$	0.11	$	0.42

Potential common shares excluded from the calculation of diluted (loss) earnings per common share above:
Equity-based compensation awards**	1,014		—		—		—
Convertible Notes***	30,417		—		20,141		—



Restricted stock****	1,504		1,756		1,528		1,847
Total	32,935		1,756		21,669		1,847

* The six months ended March 31, 2023 includes $5.4 million gain on the partial extinguishment of debt, associated with the 2025 Convertible Notes, which was recorded to "Interest expense" in the Company's condensed consolidated statement of operations. See Note 7: Debt for additional information.

** Includes time-based share-based awards and performance based awards for which targets for fiscal year tranches have been achieved and vesting is subject only to achievement of service conditions.

*** See Note 7: Debt for conversion rate of the 2024 Convertible Notes, 2025 Convertible Notes, and 2029 Convertible Notes.

**** Includes antidilutive share-based awards as well as performance-based share-based awards that are contingently issuable, but for which the condition for issuance has not been met as of the end of the reporting period.