Net Income (Loss) per Share

12 Months Ended

Jun. 30, 2026

4. Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) 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 income (loss) per share:


	Fiscal Year Ended June 30,
	2026		2025		2024
	(In thousands, except per share data)
Numerator:
Net income (loss)	$	81,235	$	4,707	$	(31,331	)
Denominator:
Weighted average shares of common stock used in computing basic net income (loss) per share		57,177		56,477		54,917
Weighted average effect of dilutive securities		986		1,823		—
Weighted average shares of common stock used in computing diluted net income (loss) per share		58,163		58,300		54,917
Net income (loss) per share:
Basic	$	1.42	$	0.08	$	(0.57	)
Diluted (1)	$	1.40	$	0.08	$	(0.57	)

Securities excluded from weighted average shares of common stock used in computing diluted net income (loss) per share because the effect would have been anti-dilutive: (2)		2,460		426		4,453

(1)

Diluted net loss per share for 2024 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. 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.