Net Loss per Share Attributable to Common Stockholders

3 Months Ended

May 07, 2023

Earnings Per Share [Abstract]

Net Loss per Share Attributable to Common Stockholders

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 and PRSUs, unvested restricted stock, the shares underlying the conversion option in our Notes (prior to the Notes being repaid in April 2023) to the extent dilutive, and common stock issuable pursuant to the ESPP. We used the if-converted method to calculate the impact of our Notes, prior to the Notes being repaid, on diluted EPS. 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 for all periods presented.

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
	2023		2024
Net loss	$	(11,535)	$	(67,401)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	295,843		305,863
Net loss per share attributable to common stockholders, basic and diluted	$	(0.04)	$	(0.22)

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
	2023	2024
Stock options to purchase common stock	11,555	8,874
Unvested RSUs and PRSUs	29,150	27,794
Unvested restricted stock	25	—
Shares related to convertible senior notes	21,884	17,315
Shares issuable pursuant to the ESPP	610	822
Total	63,224	54,805