Net Loss per Share Attributable to Common Stockholders

12 Months Ended

Jan. 31, 2017

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. We consider all series of our convertible preferred stock to be participating securities. Under the two-class method, the net loss attributable to common stockholders is not allocated to the convertible preferred stock as the holders of our convertible preferred stock do not have a contractual obligation to share in our losses.

Basic net loss per share attributable to common stockholders is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, convertible preferred stock, stock options, unvested restricted stock units, repurchasable shares from early exercised stock options and shares subject to ESPP withholding are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.

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. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders 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 if-converted basis because the impact was not dilutive.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):



	Year Ended January 31,
	2015			2016			2017
Net loss	$	(183,231	)	$	(213,752	)	(245,066		)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	27,925			82,460			194,714
Net loss per share attributable to common stockholders, basic and diluted	$	(6.56	)	$	(2.59	)	$	(1.26	)

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



	Year Ended January 31,
	2015	2016	2017
Convertible preferred stock (on an if-converted basis)	117,794	—	—
Stock options to purchase common stock	50,429	61,795	63,984
Restricted stock units	—	—	5,216
Employee stock purchase plan	—	170	1,310
Early exercised stock options	8,047	3,618	2,106
Total	176,270	65,583	72,616