Net Income (Loss) Per Share

3 Months Ended

Sep. 30, 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
	September 30, 2025		September 30, 2024
Net income (loss)	$	5,611	$	(10,504	)
Weighted-average shares used in per share calculation – basic		132,973		131,176
Options to purchase common stock		289		—
Restricted stock units		1,736		—
Employee Stock Purchase Plan shares		73		—
Weighted-average shares used in per share calculation – diluted		135,071		131,176

Net income (loss) per share – basic and diluted
Net income (loss) per share – basic	$	0.04	$	(0.08	)
Net income (loss) per share – diluted	$	0.04	$	(0.08	)

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
	September 30, 2025		September 30, 2024
Options to purchase common stock		—		1,063
Restricted stock units		651		5,423
Employee Stock Purchase Plan shares		289		376
Total shares excluded		940		6,862