Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Oct. 03, 2020

Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. The Company considers its redeemable convertible preferred stock to be participating securities as the holders of redeemable convertible preferred stock were entitled to receive noncumulative dividends in the event that a dividend was paid on common stock. Upon the closing of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock automatically converted into 32,482,590 shares of common stock on a one-for-one basis.

Basic net loss attributable to common stockholders per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding less shares subject to repurchase. Diluted net loss per share attributable to common stockholders adjusts the basic net loss per share attributable to common stockholders and the weighted-average number of shares of common stock outstanding for the potentially dilutive impact of stock options and RSUs, using the treasury stock method.

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders:


	October 3, 2020		September 28, 2019		September 29, 2018
(In thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders - basic and diluted	$	(20,115)	$	(4,766)	$	(15,604)
Denominator:
Weighted-average shares of common stock - basic and diluted	109,807,154		103,783,006		65,706,215
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders - basic and diluted	$	(0.18)	$	(0.05)	$	(0.24)

The following potentially dilutive shares as of the end of each period presented were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:


	October 3, 2020	September 28, 2019	September 29, 2018
Stock options to purchase common stock	33,503,698	42,300,183	48,504,182
RSUs	9,225,127	4,147,463	—
Total	42,728,825	46,447,646	48,504,182