Net Income (Loss) Per Share

6 Months Ended

Dec. 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 (loss) by the weighted-average number of shares of common stock used in the basic net income (loss) 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				Six Months Ended
	December 31, 2024		December 31, 2023		December 31, 2024			December 31, 2023
Net income (loss)	$	7,382	$	3,988	$	(3,122	)	$	32,664
Weighted-average shares used in per share calculation – basic		132,381		128,987		131,778			128,885
Options to purchase common stock		551		757		—			836
Restricted stock units		1,100		1,579		—			2,951
Employee Stock Purchase Plan shares		75		191		—			114
Weighted-average shares used in per share calculation – diluted		134,107		131,514		131,778			132,786

Net income (loss) per share – basic and diluted
Net income (loss) per share – basic	$	0.06	$	0.03	$	(0.02	)	$	0.25
Net income (loss) per share – diluted	$	0.06	$	0.03	$	(0.02	)	$	0.25

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				Six Months Ended
	December 31, 2024		December 31, 2023		December 31, 2024		December 31, 2023
Options to purchase common stock		—		—		997		—
Restricted stock units		1,295		2,336		5,638		1,623
Employee Stock Purchase Plan shares		695		560		545		445
Total shares excluded		1,990		2,896		7,180		2,068