Net Loss Per Share

12 Months Ended

Jul. 31, 2016

The Company computes net loss per share of common stock in conformity with the two-class method required for participating securities. The Company considers all series of the convertible preferred stock to be participating securities as the holders of the preferred stock are entitled to receive a non-cumulative dividend on a pari passu basis in the event that a dividend is paid on the common stock. The holders of the convertible preferred stock do not have a contractual obligation to share in the Company’s losses. As such, the Company’s net losses for the years ended July 31, 2016, 2015 and 2014 were not allocated to these participating securities.

Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock, including common stock issuable upon conversion of the convertible preferred stock, outstanding stock-based awards, and outstanding warrants, to the extent dilutive. Basic and diluted net loss per share was the same for each period presented as the inclusion of all potential common stock outstanding would have been anti-dilutive.

The following table presents the calculation of basic and diluted net loss per share for the periods presented:



	Year Ended July 31,
	2016			2015			2014
	(in thousands except per share amounts)
Numerator:
Net loss	$	(41,512	)	$	(50,353	)	$	(60,793	)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	29,769			10,651			3,413
Net loss per share, basic and diluted	$	(1.39	)	$	(4.73	)	$	(17.81	)

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:



	Year Ended July 31,
	2016	2015	2014
	(in thousands)
Shares subject to outstanding common stock options	4,639	4,275	4,009
Convertible preferred stock (on an as if converted basis)	—	—	19,811
Restricted stock units	2,425	279	16
Shares subject to employee stock purchase plan	207	206	—
Restricted common stock	3	45	—
Shares subject to common stock warrants	3	3	66
Total	7,277	4,808	23,902