Net Income (Loss) Per Share

6 Months Ended

Mar. 30, 2024

12. Net Income (Loss) Per Share

Basic net income (loss) per share attributable to common stockholders is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding less shares subject to repurchase. Diluted net income (loss) per share attributable to common stockholders adjusts the basic net income (loss) per share attributable to common stockholders and the weighted-average number of shares of common stock outstanding for the potentially dilutive impact of stock awards, using the treasury stock method.

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders:


	Three Months Ended				Six Months Ended
	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
(In thousands, except share and per share data)
Numerator:
Net income (loss) attributable to common stockholders - basic and diluted	$	(69,709)	$	(30,652)	$	11,238	$	44,537
Denominator:
Weighted-average shares of common stock—basic	123,749,605		127,952,875		124,465,661		127,582,560
Effect of potentially dilutive stock options	—		—		876,897		2,263,141
Effect of RSUs	—		—		2,856,594		2,941,691
Effect of PSUs	—		—		7,671		46,704
Weighted-average shares of common stock—diluted	123,749,605		127,952,875		128,206,823		132,834,096
Net income (loss) per share attributable to common stockholders:
Basic	$	(0.56)	$	(0.24)	$	0.09	$	0.35
Diluted	$	(0.56)	$	(0.24)	$	0.09	$	0.34

The following potentially dilutive shares were excluded from the computation of diluted net income (loss) per share attributable to common stockholders because including them would have been antidilutive:


	Three Months Ended		Six Months Ended
	March 30, 2024	April 1, 2023	March 30, 2024	April 1, 2023
Stock options to purchase common stock	7,945,226	9,606,088	7,312,304	7,753,514
Restricted stock units	14,314,063	11,016,316	9,964,490	7,629,223
Performance stock units	59,627	251,004	38,417	123,142
Total	22,318,916	20,873,408	17,315,211	15,505,879