NET INCOME (LOSS) PER SHARE

9 Months Ended

Feb. 29, 2024

Net income (loss) per share:

NET INCOME (LOSS) PER SHARE

11. NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is determined using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is determined using the weighted average number of common shares and potential common shares (representing the hypothetical number of incremental shares issuable under the assumed exercise of outstanding stock options, and vesting of outstanding RSUs and ESPP shares) during the period using the treasury stock method. The calculation of dilutive shares outstanding excludes securities that would have an antidilutive effect on net income (loss) per share.

The following table presents the computation of basic and diluted net income (loss) per share: 

	Three Months Ended					Nine Months Ended
	February 29,			February 28,		February 29,		February 28,
(In thousands, except per share data)	2024			2023		2024		2023
Numerator:
Net income (loss)	$	(1,471	)	$	4,132	$	9,292	$	8,446
Denominator:
Basic weighted average shares outstanding		28,866			27,893		28,773		27,571
Dilutive effect of common equivalent shares outstanding		-			1,480		897		1,509
Diluted weighted average shares outstanding		28,866			29,373		29,670		29,080
Net income per share - Basic	$	(0.05	)	$	0.15	$	0.32	$	0.31
Net income per share - Diluted	$	(0.05	)	$	0.14	$	0.31	$	0.29
Antidilutive employee share-based award shares, excluded		1,203			15		71		15