Thermon Group Holdings, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Net Income per Common Share

Net Income per Common Share

3 Months Ended

Jun. 30, 2025

The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three months ended June 30, 2025 and 2024, respectively, are as follows:


	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024
Basic net income per common share
Net income	$	8,581	$	8,511
Weighted-average common shares outstanding	33,138,914		33,756,172
Basic net income per common share	$	0.26	$	0.25


	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024
Diluted net income per common share
Net income	$	8,581	$	8,511
Weighted-average common shares outstanding	33,138,914		33,756,172
Common share equivalents:
Stock options	19,288		36,453
Restricted and performance stock units	149,442		282,395
Weighted average shares outstanding – dilutive (1)	33,307,644		34,075,020
Diluted net income per common share	$	0.26	$	0.25

(1) For the three months ended June 30, 2025 and 2024, 76,845 and 45,679, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect.

The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assume that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share until such time that it is probable that actual performance will be above or below target.