v3.25.4
Net Loss Per Share
6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share
10. Net Loss Per Share
Basic net loss per share is computed by dividing net loss by the weighted-average number of outstanding shares of common stock during the period. Diluted net loss per share is computed using the treasury stock method for stock-based awards, and the if-converted method for convertible senior notes. Under the treasury stock method, the denominator is adjusted to include, when dilutive, incremental shares issuable upon the assumed exercise of stock options, ESPP shares to be issued, and vesting of service-based and performance-based restricted stock units. Under the if-converted method, the numerator is adjusted to add back interest expense on the convertible senior notes, net of tax, and the denominator is adjusted to include incremental shares issuable upon conversion of the convertible senior notes, when the effect of applying this method is dilutive. Basic and diluted net loss per share are the same for each class of common stock because they are entitled to the same liquidation and dividend rights.
The computation of basic and diluted net loss per share is as follows:
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
($ in millions, except per share amounts)
Numerator:
Net loss attributable to common stockholders
$(38.8)$(92.0)$(24.8)$(92.8)
Denominator:
Weighted-average common shares outstanding421,310,905 385,591,039 417,209,505 382,059,323 
Net loss per share, basic and diluted$(0.09)$(0.24)$(0.06)$(0.24)
As of December 31, 2025 and 2024, 68.4 million and 103.3 million potentially dilutive stock-based awards, calculated as the total outstanding shares as of those period ends, were excluded from the computation of diluted net loss per share. Additionally, 77.3 million of potentially dilutive shares related to convertible senior notes, calculated under the if-converted method, were excluded from the computation of diluted net loss per share as of December 31, 2025 and 2024. These amounts were excluded as they would have been anti-dilutive