v3.22.4
Net Income Per Share
 9 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per ShareBasic net income per share is calculated by dividing the net income for the period by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share includes the dilutive effect of common share equivalents and is calculated using the weighted-average number of common shares and the common share equivalents outstanding during the reporting period. An anti-dilutive impact is an increase in net income per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities.
The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data):
Three Months Ended December 31,Nine Months Ended December 31,
2022202120222021
Numerator:
Net income$15,026 $14,587 $27,666 $51,522 
Denominator:
Weighted average shares outstanding, basic287,957 284,722 287,120 283,773 
Dilutive effect of stock-based awards3,271 7,123 3,683 7,122 
Weighted average shares outstanding, diluted291,228 291,845 290,803 290,895 
Net income per share, basic$0.05 $0.05 $0.10 $0.18 
Net income per share, diluted$0.05 $0.05 $0.10 $0.18 
The effect of certain common share equivalents were excluded from the computation of weighted-average diluted shares outstanding for the three and nine months ended December 31, 2022 and 2021 as inclusion would have resulted in anti-dilution. A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands):
Three Months Ended December 31,Nine Months Ended December 31,
2022202120222021
Stock options 1,613 147 1,785 167 
Unvested RSAs and RSUs2,316 49 1,197 67 
Shares committed under ESPP10 — 1 —