Net Loss per Share Attributable to Common Stockholders

3 Months Ended

May 05, 2024

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, PRSUs, and LTP Awards, 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 loss per share attributable to common stockholders (in thousands, except per share data):

	First Quarter of Fiscal
	2024		2025
Net loss	$	(67,401)	$	(35,009)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	305,863		322,589
Net loss per share attributable to common stockholders, basic and diluted	$	(0.22)	$	(0.11)

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
	2024	2025
Stock options to purchase common stock	8,874	3,883
Unvested RSUs and PRSUs	27,794	25,516
Shares related to convertible senior notes	17,315	—
Shares issuable pursuant to the ESPP	822	775
Total	54,805	30,174