Net Income Per Share

6 Months Ended

Dec. 31, 2020

Net Income Per Share

Net Income Per Share

(12)  Net Income Per Share

Basic net income per common share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of common shares outstanding during the period and, if dilutive, potential common shares outstanding during the period. The Company’s potential common shares consist of the incremental common shares issuable upon the exercise of stock options, the release of restricted stock units and market share units, and the shares purchasable via the employee stock purchase plan as of the balance sheet date. The following table presents the calculation of basic and diluted net income per share:

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2019		2020		2019		2020
Numerator:
Net income	$	5,467	$	9,642	$	19,373	$	22,102
Denominator:
Weighted-average shares used in computing net income per share:
Basic		53,542		54,305		53,415		54,160
Weighted-average effect of potentially dilutive shares:
Employee stock options, restricted stock units, market share units and employee stock purchase plan shares		2,284		2,038		2,277		1,962
Diluted		55,826		56,343		55,692		56,122
Net income per share:
Basic	$	0.10	$	0.18	$	0.36	$	0.41
Diluted	$	0.10	$	0.17	$	0.35	$	0.39

The following table summarizes the outstanding restricted stock units and employee stock purchase plan shares as of the balance sheet date that were excluded from the diluted per share calculation for the periods presented because to include them would have been anti-dilutive:

	Three Months Ended		Six Months Ended
	December 31,		December 31,
	2019	2020	2019	2020
Restricted stock units	3	14	687	19
Employee stock purchase plan shares	15	—	17	—
Total	18	14	704	19