Earnings per Share

3 Months Ended

Dec. 31, 2023

NOTE 3: EARNINGS PER SHARE

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


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

Basic earnings per common share:
Net income - basic	$	28,470	$	16,778
Weighted shares outstanding - basic	55,076		56,308
Basic earnings per common share	$	0.52	$	0.30

Diluted earnings per common share:
Net income - basic	$	28,470	$	16,778
Add: Convertible Notes interest expense, net of tax*	2,659		4,540



Net income - diluted	$	31,129	$	21,318
Weighted shares outstanding - basic	55,076		56,308
Equity-based compensation awards - effect of dilution**	1,318		1,118
Convertible Notes - effect of dilution***	30,418		26,353



Weighted shares outstanding - diluted	86,812		83,779
Diluted earnings per common share	$	0.36	$	0.25

Potential common shares excluded from the calculation of diluted earnings per common share above:





Restricted stock****	1,581		1,552

* The three months ended December 31,2022 includes $3.5 million loss on extinguishment of debt 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 price and initial 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.