Net Income Per Share

3 Months Ended

Sep. 30, 2021

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
	September 30,
	2020		2021
Numerator:
Net income	$	12,460	$	30,932
Denominator:
Weighted-average shares used in computing net income per share:
Basic		54,015		54,810
Weighted-average effect of potentially dilutive shares:
Employee stock options, restricted stock units, market share units and employee stock purchase plan shares		2,035		1,696
Diluted		56,050		56,506
Net income per share:
Basic	$	0.23	$	0.56
Diluted	$	0.22	$	0.55

The following table summarizes the outstanding restricted stock units and market share units as of September 30, 2020 and 2021 that were excluded from the diluted per share calculation for the periods presented because to include them would have been antidilutive:

	Three Months Ended
	September 30,
	2020	2021
Market share units	58	—
Restricted stock units	462	507
Total	520	507