Net Income (Loss) Per Share |
11. Net Income (Loss) Per Share Basic net income (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 net income (loss) per share adjusts the basic net income (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 net income (loss) per share: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 28, 2025 | | June 29, 2024 | | June 28, 2025 | | June 29, 2024 | (In thousands, except share and per share data) | | | | | | | | Numerator: | | | | | | | | Net income (loss) - basic and diluted | $ | (3,379) | | | $ | 3,709 | | | $ | (23,286) | | | $ | 14,947 | | Denominator: | | | | | | | | Weighted-average shares of common stock—basic | 120,423,439 | | 122,553,129 | | 120,804,730 | | | 123,828,150 | | Effect of potentially dilutive stock options | — | | | 1,116,000 | | | — | | | 956,598 | | Effect of RSUs | — | | | 3,543,526 | | | — | | | 3,085,571 | | Effect of PSUs | — | | | 32,804 | | | — | | | 16,049 | | Weighted-average shares of common stock—diluted | 120,423,439 | | 127,245,459 | | 120,804,730 | | | 127,886,368 | | Net income (loss) per share: | | | | | | | | Basic | $ | (0.03) | | | $ | 0.03 | | | $ | (0.19) | | | $ | 0.12 | | Diluted | $ | (0.03) | | | $ | 0.03 | | | $ | (0.19) | | | $ | 0.12 | |
The following shares were excluded from the computation of diluted net income (loss) per share because their effect would have been antidilutive: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 28, 2025 | | June 29, 2024 | | June 28, 2025 | | June 29, 2024 | Stock options to purchase common stock | 6,338,165 | | 6,371,604 | | 6,673,403 | | 6,998,738 | Restricted stock units | 10,863,006 | | 9,556,879 | | 13,394,270 | | 9,828,619 | Performance stock units | 516,697 | | 187,255 | | 201,691 | | 88,030 | Total | 17,717,868 | | 16,115,738 | | 20,269,364 | | 16,915,387 |
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