Earnings (Loss) Per Share

9 Months Ended

Jun. 27, 2026

11. Earnings (Loss) Per Share

Earnings (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 earnings (loss) per share adjusts the basic earnings (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 earnings (loss) per share:


	Three Months Ended				Nine Months Ended
	June 27, 2026		June 28, 2025		June 27, 2026		June 28, 2025
(In thousands, except share and per share data)
Numerator:
Net income (loss) - basic and diluted	$	29,853	$	(3,379)	$	94,765	$	(23,286)
Denominator:
Weighted-average shares of common stock—basic	118,961,126		120,423,439		119,886,795		120,804,730
Effect of potentially dilutive stock options	177,925		—		463,941		—
Effect of RSUs	1,515,696		—		2,141,697		—
Effect of PSUs	327,757		—		269,274		—
Weighted-average shares of common stock—diluted	120,982,504		120,423,439		122,761,707		120,804,730
Earnings (loss) per share:
Basic	$	0.25	$	(0.03)	$	0.79	$	(0.19)
Diluted	$	0.25	$	(0.03)	$	0.77	$	(0.19)

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


	Three Months Ended		Nine Months Ended
	June 27, 2026	June 28, 2025	June 27, 2026	June 28, 2025
Stock options to purchase common stock	4,054,557	6,338,165	4,167,719	6,673,403
Restricted stock units	7,378,209	10,863,006	6,379,624	13,394,270
Performance stock units	912,952	516,697	468,578	201,691
Total	12,345,718	17,717,868	11,015,921	20,269,364