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Net Loss Per Share
9 Months Ended
Oct. 31, 2018
Earnings Per Share [Abstract]  
Net Loss per Share

Note 11. Net Loss per Share

On June 14, 2018, all of our outstanding shares of Class B common stock automatically converted into the same number of shares of Class A common stock pursuant to the terms of our Amended and Restated Certificate of Incorporation. No additional shares of Class B common stock will be issued following such conversion. Refer to Note 9 for additional details related to the conversion of Class B common stock.

For periods where there were Class B shares outstanding, we calculate our basic and diluted net loss per share in conformity with the two-class method required for companies with participating securities. Under the two-class method, basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, less shares subject to repurchase. The diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, restricted stock units, shares issuable pursuant to our employee stock purchase plan, shares subject to repurchase from early exercised options and unvested restricted stock, and contingently issuable shares are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share as their effect is antidilutive.

The rights, including the liquidation and dividend rights, of the holders of our Class A and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. We did not present dilutive net loss per share on an as-if converted basis because the impact was not dilutive.

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share amounts):

 

 

 

Three Months Ended October 31,

 

 

 

2018

 

 

2017

 

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(40,196

)

 

$

 

 

$

(35,061

)

 

$

(7,863

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares outstanding—basic

   and diluted

 

 

142,366

 

 

 

 

 

 

109,972

 

 

 

24,664

 

Net loss per share—basic and diluted

 

$

(0.28

)

 

$

 

 

$

(0.32

)

 

$

(0.32

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended October 31,

 

 

 

2018

 

 

2017

 

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(110,868

)

 

$

(4,050

)

 

$

(84,998

)

 

$

(37,297

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares outstanding—basic

   and diluted

 

 

135,605

 

 

 

4,954

 

 

 

92,469

 

 

 

40,575

 

Net loss per share—basic and diluted

 

$

(0.82

)

 

$

(0.82

)

 

$

(0.92

)

 

$

(0.92

)

 

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been antidilutive (in thousands):

 

 

 

Three Months Ended October 31,

 

 

Nine Months Ended October 31,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Options to purchase common stock

 

 

9,488

 

 

 

11,997

 

 

 

10,026

 

 

 

12,094

 

Restricted stock units

 

 

14,791

 

 

 

13,962

 

 

 

14,474

 

 

 

13,382

 

Employee stock purchase plan

 

 

1,679

 

 

 

1,845

 

 

 

1,131

 

 

 

3,437

 

Repurchasable shares from early-exercised options and

   unvested restricted stock

 

 

 

 

 

164

 

 

 

 

 

 

206

 

Contingently issuable common stock

 

 

 

 

 

52

 

 

 

 

 

 

55

 

 

 

 

25,958

 

 

 

28,020

 

 

 

25,631

 

 

 

29,174