Net Income (Loss) Per Share

9 Months Ended

Mar. 31, 2025

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					Nine Months Ended
	March 31, 2025		March 31, 2024			March 31, 2025		March 31, 2024
Net income (loss)	$	3,458	$	(64,425	)	$	336	$	(31,761	)
Weighted-average shares used in per share calculation – basic		132,979		129,299			132,173		129,021
Options to purchase common stock		452		—			528		—
Restricted stock units		1,155		—			1,069		—
Employee Stock Purchase Plan shares		4		—			—		—
Weighted-average shares used in per share calculation – diluted		134,590		129,299			133,770		129,021

Net income (loss) per share – basic and diluted
Net income (loss) per share – basic	$	0.03	$	(0.50	)	$	0.00	$	(0.25	)
Net income (loss) per share – diluted	$	0.03	$	(0.50	)	$	0.00	$	(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				Nine Months Ended
	March 31, 2025		March 31, 2024		March 31, 2025		March 31, 2024
Options to purchase common stock		—		1,083		—		1,144
Restricted stock units		1,349		5,577		1,258		6,269
Employee Stock Purchase Plan shares		345		266		114		88
Total shares excluded		1,694		6,926		1,372		7,501