NET INCOME PER SHARE (Tables)

12 Months Ended

Feb. 03, 2024

NET INCOME PER SHARE

Schedule of weighted-average shares used for net income (loss) per share

	YEAR ENDED
	FEBRUARY 3,		JANUARY 28,		JANUARY 29,
	2024		2023		2022
Weighted-average shares—basic		19,880,576		23,523,065		21,270,448
Effect of dilutive stock-based awards		1,518,408		2,675,660		6,506,399
Effect of dilutive convertible senior notes(1)		201,494		363,263		3,336,548
Weighted-average shares—diluted		21,600,478		26,561,988		31,113,395

(1) The dilutive effect of the 2023 Notes and 2024 Notes is calculated under the if-converted method, which assumes share settlement of the entire convertible debt instrument. The 2023 Notes terminated in June 2023 and did not have an impact on our diluted share count post-termination. The warrants associated with the 2023 Notes and 2024 Notes had an impact on our dilutive share count beginning at stock prices of $309.84 per share and $338.24 per share, respectively. The warrants associated with the 2023 Notes and 2024 Notes were repurchased in April 2022 and, as a result, no warrant instruments were outstanding as of and after April 30, 2022. Accordingly, the warrants have no impact on our dilutive shares post-repurchase. Refer to Note 11—Convertible Senior Notes.

We adopted ASU 2020-06 in the first quarter of fiscal 2022, and the adoption requires the dilutive impact of the convertible senior notes for diluted net income per share purposes to be determined under the if-converted method which assumes share settlement of the entire convertible debt instrument. Prior to adoption of ASU 2020-06 for fiscal 2021, we applied the treasury stock method to determine the dilutive impact of the 2023 Notes and 2024 Notes for diluted net income per share purposes, and the 2020 Notes, 2023 Notes and the 2024 Notes impact our dilutive share count beginning at stock prices of $118.13 per share, $193.65 per share and $211.40 per share, respectively.

Anti-Dilutive Securities Excluded from Diluted Net Income (loss) per Share

	YEAR ENDED
	FEBRUARY 3,	JANUARY 28,	JANUARY 29,
	2024	2023	2022
Options	1,316,836	1,096,269	102,374
Restricted stock units	15,313	19,154	1,379
Convertible senior notes	—	231,618	—