Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.21.2
Net Income Per Share
6 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per ShareBasic net income per share is calculated by dividing the net income for the period by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share includes the dilutive effect of common share equivalents and is calculated using the weighted-average number of common shares and the common share equivalents outstanding during the reporting period. An anti-dilutive impact is an increase in net income per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities.
The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data):
Three Months Ended September 30, Six Months Ended September 30,
2021 2020 2021 2020
Numerator:
Net income $ 23,641  $ 17,479  $ 36,935  $ 30,344 
Denominator:
Weighted average shares outstanding, basic 283,923  280,077  283,295  279,577 
Dilutive effect of stock-based awards 7,254  6,175  6,959  5,846 
Weighted average shares outstanding, diluted 291,177  286,252  290,254  285,423 
Net income per share, basic $ 0.08  $ 0.06  $ 0.13  $ 0.11 
Net income per share, diluted $ 0.08  $ 0.06  $ 0.13  $ 0.11 
The effect of certain common share equivalents were excluded from the computation of weighted average diluted shares outstanding for the three and six months ended September 30, 2021 and 2020 as inclusion would have resulted in anti-dilution. A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands):
Three Months Ended September 30, Six Months Ended September 30,
2021 2020 2021 2020
Stock options 148  2,101  159  1,572 
Unvested restricted stock and RSUs 23  24  27  30