Net Income Per Share

3 Months Ended

Sep. 30, 2023

15.

Net Income Per Share

Basic net income per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted-average number of shares of common stock used in the basic net income per share calculation plus the dilutive effect of shares subject to repurchase, options and unvested RSUs.

The following table presents the calculation of net income per share of basic and diluted (in thousands, except per share data):


	Three Months Ended
	September 30, 2023		September 30, 2022
Net income	$	28,676	$	12,585
Weighted-average shares used in per share calculation – basic		128,782		130,289
Options to purchase common stock		898		523
Restricted stock units		3,783		2,121
Weighted-average shares used in per share calculation – diluted		133,463		132,933

Net income per share – basic and diluted
Net income per share – basic	$	0.22	$	0.10
Net income per share – diluted	$	0.21	$	0.09

The following securities were excluded from the computation of net income per diluted share of common stock for the periods presented as their effect would have been anti-dilutive (in thousands):


	Three Months Ended
	September 30, 2023		September 30, 2022
Restricted stock units		1,071		2,343
Employee Stock Purchase Plan shares		267		410
Total shares excluded		1,338		2,753