NET INCOME (LOSS) PER SHARE

3 Months Ended

Jun. 30, 2026

Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period, and excludes any dilutive effects of employee stock-based awards and potential shares upon conversion of the convertible senior notes. Diluted net loss per share is computed after giving effect to all potentially dilutive shares of common stock, including the shares of common stock issuable upon the exercise of stock options, vesting of RSUs and PSUs, and shares of common stock issuable upon the conversion of convertible senior notes.

The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share (in thousands, except per share data):


	Three Months Ended June 30,
	2026		2025
Net loss	$	(1,200)	$	(4,315)
Weighted average common shares outstanding - basic and diluted	141,973		134,809


Net loss per share - basic and diluted	$	(0.01)	$	(0.03)

Since the Company was in a loss position for all periods presented, basic net loss per share is equivalent to diluted net loss per share for all periods, as the inclusion of all potential dilutive shares would have had an anti-dilutive effect.

The following potentially dilutive weighted-average common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (shares in thousands):


	Three Months Ended June 30,
	2026	2025
Stock options	15	121
Restricted stock units and Performance stock units	2,963	5,689
Potential shares attributable to the ESPP	1,224	1,449
Warrants to purchase common stock	3,100	3,100
Convertible senior notes	28,229	28,229
Total anti-dilutive shares	35,531	38,588

The Company used the if-converted method for calculating any potential dilutive effect of its convertible senior notes for the three months ended June 30, 2026 and 2025. Under this method, the Company calculates diluted earnings per share under both the cash and share settlement assumptions to determine which is more dilutive. If share settlement is more dilutive, the Company calculates diluted earnings per share, assuming that all of the convertible senior notes were converted solely into shares of common stock at the beginning of the reporting period. The potential impact upon the conversion of the convertible senior notes was excluded from the calculation of diluted net loss per share for the three months ended June 30, 2026 and 2025 because the effect would have been anti-dilutive.