Net Income (Loss) Per Share

9 Months Ended

Mar. 31, 2024

15.

Net Income (Loss) Per Share

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) 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 (loss) per share of basic and diluted (in thousands, except per share data):


	Three Months Ended					Nine Months Ended
	March 31, 2024			March 31, 2023		March 31, 2024			March 31, 2023
Net income (loss)	$	(64,425	)	$	22,131	$	(31,761	)	$	52,647
Weighted-average shares used in per share calculation – basic		129,299			128,816		129,021			129,864
Options to purchase common stock		—			748		—			678
Restricted stock units		—			3,461		—			3,174
Weighted-average shares used in per share calculation – diluted		129,299			133,025		129,021			133,716

Net income (loss) per share – basic and diluted
Net income (loss) per share – basic	$	(0.50	)	$	0.17	$	(0.25	)	$	0.41
Net income (loss) per share – diluted	$	(0.50	)	$	0.17	$	(0.25	)	$	0.39

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


	Three Months Ended				Nine Months Ended
	March 31, 2024		March 31, 2023		March 31, 2024		March 31, 2023
Options to purchase common stock		1,083		—		1,144		—
Restricted stock units		5,577		143		6,269		116
Employee Stock Purchase Plan shares		266		238		88		78
Total shares excluded		6,926		381		7,501		194