Net Income (Loss) Per Share

6 Months Ended

Aug. 01, 2020

Net Income (Loss) Per Share

Net Income (Loss) Per Share

NOTE 13—NET INCOME PER SHARE

The weighted-average shares used for net income per share are as follows:

	Three Months Ended		Six Months Ended
	August 1,	August 3,	August 1,	August 3,
	2020	2019	2020	2019
Weighted-average shares—basic	19,386,115	18,465,876	19,314,479	19,221,367
Effect of dilutive stock-based awards	5,205,159	3,858,236	4,787,988	4,165,391
Effect of dilutive convertible senior notes (1)	1,973,431	—	1,281,263	242,292
Weighted-average shares—diluted	26,564,705	22,324,112	25,383,730	23,629,050

(1) The 2020 Notes, 2023 Notes and 2024 Notes have an impact on our dilutive share count beginning at stock prices of $118.13 per share, $193.65 per share and $211.40 per share, respectively. The 2020 Notes terminated on July 15, 2020 and did not have an impact on our dilutive share count post-termination. The warrants associated with our 2020 Notes, 2023 Notes and 2024 Notes have an impact on our dilutive share count beginning at stock prices of $189.00 per share, $309.84 per share and $338.24 per share, respectively. The warrants associated with our 2020 Notes expire through January 2021. Refer to Note 9—Convertible Senior Notes.

Dilutive options of 800,854 and 717,627 were excluded from the calculation of diluted net income per share for the three months ended August 1, 2020 and August 3, 2019, respectively, because their inclusion would have been anti-dilutive. Dilutive options of 521,717 and 590,567 were excluded from the calculation of diluted net income per share for the six months ended August 1, 2020 and August 3, 2019, respectively, because their inclusion would have been anti-dilutive.