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NET INCOME PER SHARE | 12 Months Ended
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May 30, 2025
Net income (loss) per share: |
NET INCOME PER SHARE | 14. NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is determined using the weighted average number of common shares outstanding during the period. Diluted net income per share is determined using the weighted average number of common shares and potential common shares (representing the hypothetical number of incremental shares issuable under the assumed exercise of outstanding stock options, and vesting of outstanding RSUs and ESPP shares) during the period using the treasury stock method. The calculation of dilutive shares outstanding excludes securities that would have an antidilutive effect on net income per share. The following table presents the computation of basic and diluted net income (loss) per share:
|  | Year Ended |
|  | May 30, |  |  | May 31, |  |  | May 31, |
(In thousands, except per share data) |  | 2025 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (3,910 | ) |  | $ | 33,156 |  |  | $ | 14,557 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average shares outstanding |  |  | 29,581 |  |  |  | 28,818 |  |  |  | 27,785 |
Dilutive effect of common equivalent shares outstanding |  |  | - |  |  |  | 799 |  |  |  | 1,430 |
Diluted weighted average shares outstanding |  |  | 29,581 |  |  |  | 29,617 |  |  |  | 29,215 |
Net income (loss) per share - Basic |  | $ | (0.13 | ) |  | $ | 1.15 |  |  | $ | 0.52 |
Net income (loss) per share - Diluted |  | $ | (0.13 | ) |  | $ | 1.12 |  |  | $ | 0.50 |
Antidilutive employee share-based awards, excluded |  |  | 1,781 |  |  |  | 351 |  |  |  | 5 |

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