Earnings Per Share

6 Months Ended

Mar. 31, 2023

EARNINGS PER SHAREThe following table presents the computation of basic and diluted earnings per share for the six months ended

March 31, 2023 and 2022.


	Three Months Ended March 31,				Six Months Ended March 31,
	2023		2022		2023		2022
	(in thousands, except per share amounts)
Numerator:
Net income (loss)	$	48,675	$	44,366	$	7,350	$	(18,506)

Denominator:
Weighted-average basic shares outstanding	106,757		105,545		106,394		105,034
Effect of dilutive securities	1,386		2,384		1,499		—
Weighted-average diluted shares outstanding	108,143		107,929		107,893		105,034

Basic earnings per share	$	0.46	$	0.42	$	0.07	$	(0.18)
Diluted earnings per share	$	0.45	$	0.41	$	0.07	$	(0.18)

Potentially dilutive securities representing approximately 4,350,000 and 4,069,000 shares of common stock were excluded from the computation of diluted earnings per share for the three and six months ended March 31, 2023, respectively, because their effect would have been anti-dilutive. There were no potentially dilutive securities with anti-dilutive effect for the six months ended March 31, 2022.