Net Income (Loss) Per Share

6 Months Ended

Mar. 29, 2025

11. 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 less shares subject to repurchase. Diluted net income (loss) per share adjusts the basic net income (loss) per share 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:


	Three Months Ended				Six Months Ended
	March 29, 2025		March 30, 2024		March 29, 2025		March 30, 2024
(In thousands, except share and per share data)
Numerator:
Net income (loss) - basic and diluted	$	(70,144)	$	(69,709)	$	(19,907)	$	11,238
Denominator:
Weighted-average shares of common stock—basic	119,919,163		123,749,605		120,995,375		124,465,661
Effect of potentially dilutive stock options	—		—		—		876,897
Effect of RSUs	—		—		—		2,856,594
Effect of PSUs	—		—		—		7,671
Weighted-average shares of common stock—diluted	119,919,163		123,749,605		120,995,375		128,206,823
Net income (loss) per share:
Basic	$	(0.58)	$	(0.56)	$	(0.16)	$	0.09
Diluted	$	(0.58)	$	(0.56)	$	(0.16)	$	0.09

The following shares were excluded from the computation of diluted net income (loss) per share because their effect would have been antidilutive:


	Three Months Ended		Six Months Ended
	March 29, 2025	March 30, 2024	March 29, 2025	March 30, 2024
Stock options to purchase common stock	6,713,001	7,945,226	6,841,022	7,312,304
Restricted stock units	13,555,418	14,314,063	14,659,903	9,964,490
Performance stock units	71,790	59,627	44,188	38,417
Total	20,340,209	22,318,916	21,545,113	17,315,211