Net Loss per Share Attributable to Common Stockholders

12 Months Ended

Feb. 02, 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. 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, less shares subject to repurchase. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potentially dilutive common stock equivalents, including our outstanding stock options, common stock related to unvested RSUs, repurchasable shares from early exercised stock options and restricted stock, our Notes to the extent dilutive, and common stock issuable pursuant to the ESPP. These potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.

In December 2018, all outstanding shares of Class B common stock converted to shares of Class A common stock as discussed in Note 9. The conversion did not impact our basic or diluted net loss per share attributable to common stockholders for fiscal year 2019. Prior to the conversion, the rights, including the liquidation and dividend rights, of the holders of our Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders was, therefore, the same for both Class A and Class B common stock on an individual or combined basis for fiscal 2018.

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):


	Fiscal Year Ended
	2018		2019		2020

Net loss	$	(159,878)	$	(178,362)	$	(200,987)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	211,609		232,042		252,820
Net loss per share attributable to common stockholders, basic and diluted	$	(0.76)	$	(0.77)	$	(0.79)

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):


	Fiscal Year Ended
	2018	2019	2020
Stock options to purchase common stock	52,424	39,928	31,315
Unvested restricted stock units	15,496	19,488	24,374
Restricted stock subject to repurchase	—	2,881	2,614
Shares related to convertible senior notes	—	17,867	21,884
Shares issuable pursuant to the ESPP	1,544	2,411	1,031
Early exercised stock options subject to repurchase	246	7	—
Total	69,710	82,582	81,218