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Net Income per Share
 12 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Net Income per Share

4. Net (Loss) Income per Share

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive shares of common stock assuming the dilutive effect of outstanding stock options, unvested restricted stock units, and shares issuable related to the ESPP using the treasury stock method.

The following table presents the calculation of basic and diluted net (loss) income per share:

 

 

 

Fiscal Year Ended June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(In thousands, except per share data)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(5,248

)

 

$

23,555

 

 

$

18,102

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock used in computing basic net (loss) income per share

 

 

54,339

 

 

 

53,166

 

 

 

51,529

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock used in computing basic net (loss) income per share

 

 

54,339

 

 

 

53,166

 

 

 

51,529

 

Weighted average effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

—

 

 

 

778

 

 

 

1,054

 

Restricted stock units

 

 

—

 

 

 

1,185

 

 

 

804

 

Shares issuable related to the ESPP

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average shares of common stock used in computing diluted net (loss) income per share

 

 

54,339

 

 

 

55,129

 

 

 

53,387

 

Net (loss) income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.10

)

 

$

0.44

 

 

$

0.35

 

Diluted (1)

 

$

(0.10

)

 

$

0.43

 

 

$

0.34

 

Securities excluded from weighted-average shares used in computing diluted net (loss) income per share because the effect would have been anti-dilutive: (2)

 

 

3,557

 

 

 

84

 

 

 

1,104

 

 

(1)

Diluted net loss per share does not reflect any potential common stock relating to stock options, restricted stock units, or shares issuable related to the ESPP due to net loss incurred in fiscal year 2022. The assumed issuance of any additional shares would be anti-dilutive.

(2)

These weighted shares relate to anti-dilutive stock options, restricted stock units, and shares issuable related to the ESPP as calculated using the treasury stock method and could be dilutive in the future.