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Net Income (Loss) Per Share
 6 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share NET INCOME (LOSS) PER SHARE
The Company calculates net income (loss) per share as defined by ASC Topic 260, “Earnings per Share”. Basic net income (loss) per share (“Basic EPS”) is computed by dividing net income (loss) attributable to common shareholders by the weighted-average common stock outstanding during the respective period. Diluted net income (loss) per share (“Diluted EPS”) is computed by dividing net income (loss) attributable to common and common equivalent shareholders by the total of the weighted-average common stock outstanding and common equivalent shares outstanding during the respective period. For the purpose of calculating the Company’s Diluted EPS, common equivalent shares outstanding include common shares issuable upon the exercise of outstanding employee stock options, unvested RSU's, PSU’s assuming the performance conditions are satisfied as of the end of the reporting period, and common shares issuable upon the conclusion of each ESPP offering period. The number of common equivalent shares outstanding has been determined in accordance with the treasury stock method for employee stock options, RSU's, PSU’s, and common stock issuable pursuant to the ESPP to the extent they are dilutive. Under the treasury stock method, the exercise price paid by the option holder and future share-based compensation expense that the Company has not yet recognized are assumed to be used to repurchase shares.

The following table sets forth the computation of net income (loss) per share for the periods presented:

Three Months Ended December 31,Six Months Ended December 31,
(in thousands, except per share amounts)
2021202020212020
Basic:
Numerator:
Net income (loss)$(137,008)$89,856 $(184,161)$89,591 
Net income (loss) attributable to common shareholders(137,008)89,856 (184,161)89,591 
Denominator:
Weighted-average common stock outstanding163,966 162,645 163,829 162,546 
Net income (loss) per share—basic:$(0.84)$0.55 $(1.12)$0.55 
Diluted:
Numerator:
Net income (loss) attributable to common shareholders$(137,008)$89,856 $(184,161)$89,591 
Net income (loss) attributable to common and common equivalent shareholders(137,008)89,856 (184,161)89,591 
Denominator:
Weighted-average common stock outstanding163,966 162,645 163,829 162,546 
Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP(1)
— 2,918 — 2,831 
Total common and common equivalent shares outstanding163,966 165,563 163,829 165,377 
Net income (loss) per share—diluted:$(0.84)$0.54 $(1.12)$0.54 
(1) Excluded from the computation of net income (loss) per share-diluted for the three and six months ended December 31, 2021, because the effect would have been anti-dilutive.

The weighted average potential shares of common stock that were excluded from the calculation of net income (loss) per share-diluted for the periods presented because including them would have been anti-dilutive are as follows for the periods presented:
Three Months Ended December 31,Six Months Ended December 31,
(in thousands)2021202020212020
Stock options outstanding to purchase shares of common stock including unvested RSU's and from the ESPP5,133 — 4,908 — 
Shares subject to outstanding PSU's(1)
165 — 247 — 
Total5,298 — 5,155 — 
(1) The weighted-average number of shares excluded from the computation of net income (loss) per share-diluted because the performance conditions associated with these awards were not met.