Net Income (Loss) per Share Attributable to Common Stockholders

12 Months Ended

Feb. 04, 2024

Earnings Per Share [Abstract]

Net Income (Loss) per Share Attributable to Common Stockholders

Net Income (Loss) per Share Attributable to Common Stockholders

Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (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 income (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, PRSUs, and LTP Awards, 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. In periods of net loss, all 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.

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

	Fiscal Year Ended
	2022		2023		2024
Numerator:
Net income (loss) attributable to common stockholders, basic	$	(143,259)	$	73,071	$	61,311
Add: Interest charges related to our Notes	—		3,314		630
Net income (loss) attributable to common stockholders, diluted	$	(143,259)	$	76,385	$	61,941
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic	285,882		299,478		311,831
Add: Dilutive effect of common stock equivalents	—		39,706		20,737
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted	285,882		339,184		332,568
Net income (loss) per share attributable to common stockholders, basic	$	(0.50)	$	0.24	$	0.20
Net income (loss) per share attributable to common stockholders, diluted	$	(0.50)	$	0.23	$	0.19

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

	Fiscal Year Ended
	2022	2023	2024
Stock options to purchase common stock	15,686	10,516	—
Unvested RSUs and PRSUs	32,491	29,780	1,038
Unvested restricted stock	257	6	—
Shares related to convertible senior notes	21,884	—	—
Shares issuable pursuant to the ESPP	2,122	885	—
Total	72,440	41,187	1,038