| | | | | | | | | | | | | | | | | | |
| Year ended June 30, | |
| 2023 | | 2022 | | 2021 | |
Revenues | $ | 1,940,512 | | | $ | 1,691,692 | | | $ | 1,898,094 | | |
Cost of revenues | 1,179,781 | | | 1,021,880 | | | 985,818 | | |
Gross profit | 760,731 | | | 669,812 | | | 912,276 | | |
Operating expenses: | | | | | | |
Research and development | 145,172 | | | 137,689 | | | 116,171 | | |
Sales, general and administrative | 70,993 | | | 69,859 | | | 53,513 | | |
Total operating expenses | 216,165 | | | 207,548 | | | 169,684 | | |
Income from operations | 544,566 | | | 462,264 | | | 742,592 | | |
Interest expense and other, net | (58,224) | | | (17,815) | | | (14,938) | | |
Income before income taxes | 486,342 | | | 444,449 | | | 727,654 | | |
Provision for income taxes | 78,701 | | | 65,792 | | | 111,070 | | |
Net income | $ | 407,641 | | | $ | 378,657 | | | $ | 616,584 | | |
Net income per share of common stock: | | | | | | |
Basic | $ | 6.75 | | | $ | 6.14 | | | $ | 9.79 | | |
Diluted | $ | 6.74 | | | $ | 6.13 | | | $ | 9.78 | | |
Weighted average shares used in computing net income per share of common stock: | | | | | | |
Basic | 60,435 | | | 61,689 | | | 62,991 | | |
Diluted | 60,451 | | | 61,723 | | | 63,052 | | |
| | | | | | |
Other comprehensive income: | | | | | | |
Unrealized losses on available-for-sale securities | — | | | (475) | | | (8) | | |
Other comprehensive loss | — | | | (475) | | | (8) | | |
Comprehensive income | $ | 407,641 | | | $ | 378,182 | | | $ | 616,576 | | |
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