| | | | | | | | | | | | | | | | | | |
| Year ended June 30, | |
| 2024 | | 2023 | | 2022 | |
Revenues | $ | 1,928,490 | | | $ | 1,940,512 | | | $ | 1,691,692 | | |
Cost of revenues | 1,188,728 | | | 1,179,781 | | | 1,021,880 | | |
Gross profit | 739,762 | | | 760,731 | | | 669,812 | | |
Operating expenses: | | | | | | |
Research and development | 159,768 | | | 145,172 | | | 137,689 | | |
Sales, general and administrative | 80,997 | | | 70,993 | | | 69,859 | | |
Total operating expenses | 240,765 | | | 216,165 | | | 207,548 | | |
Income from operations | 498,997 | | | 544,566 | | | 462,264 | | |
Interest expense and other, net | 75,169 | | | 58,224 | | | 17,815 | | |
Income before income taxes | 423,828 | | | 486,342 | | | 444,449 | | |
Provision for income taxes | 73,868 | | | 78,701 | | | 65,792 | | |
Net income | $ | 349,960 | | | $ | 407,641 | | | $ | 378,657 | | |
Net income per share of common stock: | | | | | | |
Basic | $ | 5.79 | | | $ | 6.75 | | | $ | 6.14 | | |
Diluted | $ | 5.79 | | | $ | 6.74 | | | $ | 6.13 | | |
Weighted average shares used in computing net income per share of common stock: | | | | | | |
Basic | 60,454 | | | 60,435 | | | 61,689 | | |
Diluted | 60,458 | | | 60,451 | | | 61,723 | | |
| | | | | | |
Other comprehensive income: | | | | | | |
Unrealized losses on available-for-sale securities | — | | | — | | | (475) | | |
Other comprehensive loss | — | | | — | | | (475) | | |
Comprehensive income | $ | 349,960 | | | $ | 407,641 | | | $ | 378,182 | | |
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