Net Income per Share Attributable to Common Stockholders

12 Months Ended

Feb. 02, 2025

Earnings Per Share [Abstract]

Net Income per Share Attributable to Common Stockholders

Net Income per Share Attributable to Common Stockholders

Basic and diluted net income per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net income per share attributable to common stockholders is computed by dividing the net income 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 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.

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

	Fiscal Year Ended
	2023		2024		2025
Numerator:
Net income attributable to common stockholders, basic	$	73,071	$	61,311	$	106,739
Add: Interest charges related to our Notes	3,314		630		—
Net income attributable to common stockholders, diluted	$	76,385	$	61,941	$	106,739
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	299,478		311,831		325,774
Add: Dilutive effect of common stock equivalents	39,706		20,737		16,930
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	339,184		332,568		342,704
Net income per share attributable to common stockholders, basic	$	0.24	$	0.20	$	0.33
Net income per share attributable to common stockholders, diluted	$	0.23	$	0.19	$	0.31

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

	Fiscal Year Ended
	2023	2024	2025
Stock options to purchase common stock	10,516	—	—
Unvested RSUs, PRSUs and LTP Awards	29,780	1,038	514
Unvested restricted stock	6	—	—
Shares issuable pursuant to the ESPP	885	—	—
Total	41,187	1,038	514