Net Loss per Share Attributable to Common Stockholders

3 Months Ended

May 08, 2022

Earnings Per Share [Abstract]

Net Loss per Share Attributable to Common Stockholders

Net Loss per Share Attributable to Common StockholdersBasic 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 and PRSUs, unvested restricted stock, the shares underlying the conversion option in our Notes to the extent dilutive, and common stock issuable pursuant to the ESPP. The adoption of ASU 2020-06 eliminates the treasury stock method and instead requires the application of the if-converted method to calculate the impact of our Notes on diluted EPS. As we had net losses in both the first quarter of fiscal 2022 and 2023, all potentially dilutive common stock equivalents, including from our Notes, have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-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):

	First Quarter of Fiscal
	2022		2023
Net loss	$	(84,206)	$	(11,535)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	280,331		295,843
Net loss per share attributable to common stockholders, basic and diluted	$	(0.30)	$	(0.04)

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):

 

	First Quarter of Fiscal
	2022	2023
Stock options to purchase common stock	17,856	11,555
Unvested RSUs and PRSUs	32,876	29,150
Unvested restricted stock	471	25
Shares related to convertible senior notes	21,884	21,884
Shares issuable pursuant to the ESPP	1,049	610
Total	74,136	63,224