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Net Income (Loss) Per Share
6 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share NET INCOME (LOSS) PER SHARE
The Company calculates net income (loss) per share as defined by ASC 260, Earnings per Share (“ASC 260”). Basic net income (loss) per share (“Basic EPS”) is computed by dividing net income (loss) attributable to common shareholders by the weighted-average common stock outstanding during the respective period. Diluted net income (loss) per share (“Diluted EPS”) is computed by dividing net income (loss) attributable to common and common equivalent shareholders by the total of the weighted-average common stock outstanding and common equivalent shares outstanding during the respective period. For the purpose of calculating the Company’s Diluted EPS, common equivalent shares outstanding include common shares issuable upon the exercise of outstanding employee stock options, unvested RSU's, PSU’s assuming the performance conditions are satisfied as of the end of the reporting period, PVU’s assuming market conditions are satisfied as of the end of the reporting period, and common shares issuable upon the conclusion of each ESPP offering period. The number of common equivalent shares outstanding has been determined in accordance with the treasury stock method for employee stock options, RSU's, PSU’s, PVU’s, and common stock issuable pursuant to the ESPP to the extent they are dilutive. Under the treasury stock method, the exercise price paid by the option holder and future share-based compensation expense that the Company has not yet recognized are assumed to be used to repurchase shares.

The following table sets forth the computation of net income (loss) per share for the periods presented:

Three Months Ended December 31,Six Months Ended December 31,
(in thousands, except per share amounts)
2022202120222021
Basic:
Numerator:
Net income (loss) attributable to common shareholders$22,514 $(137,563)$(19,970)$(185,795)
Denominator:
Weighted-average common stock outstanding166,486 163,966 165,655 163,829 
Net income (loss) per share—basic:$0.14 $(0.84)$(0.12)$(1.13)
Diluted:
Numerator:
Net income (loss) attributable to common and common equivalent shareholders$22,514 $(137,563)$(19,970)$(185,795)
Denominator:
Weighted-average common stock outstanding166,486 163,966 165,655 163,829 
Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP(1)(2)
62 — — — 
Total common and common equivalent shares outstanding166,548 163,966 165,655 163,829 
Net income (loss) per share—diluted:$0.14 $(0.84)$(0.12)$(1.13)
(1) Excluded from the computation of net income (loss) per share-diluted for the six months ended December 31, 2022, because the effect would have been anti-dilutive.
(2) Excluded from the computation of net income (loss) per share-diluted for the three and six months ended December 31, 2021, because the effect would have been anti-dilutive.
The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted because including them would have been anti-dilutive are as follows for the periods presented:

Three Months Ended December 31,Six Months Ended December 31,
(in thousands)2022202120222021
Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP8,268 5,133 8,061 4,908 

The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted because the performance or market conditions associated with these awards were not met are as follows for the periods presented:

Three Months Ended December 31,Six Months Ended December 31,
(in thousands)2022202120222021
Shares subject to outstanding PVU’s4,150 — 4,186 — 
Shares subject to outstanding PSU's165 247 
Total4,156 165 4,192 247