Net Income Per Share

6 Months Ended

Dec. 31, 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				Six Months Ended
	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Net income	$	3,988	$	17,931	$	32,664	$	30,516
Weighted-average shares used in per share calculation – basic		128,987		130,465		128,885		130,377
Options to purchase common stock		757		717		836		635
Restricted stock units		1,579		3,164		2,951		2,760
Employee Stock Purchase Plan shares		191		107		114		61
Weighted-average shares used in per share calculation – diluted		131,514		134,453		132,786		133,833

Net income per share – basic and diluted
Net income per share – basic	$	0.03	$	0.14	$	0.25	$	0.23
Net income per share – diluted	$	0.03	$	0.13	$	0.25	$	0.23

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				Six Months Ended
	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Restricted stock units		2,336		437		1,623		306
Employee Stock Purchase Plan shares		560		678		445		529
Total shares excluded		2,896		1,115		2,068		835