NET INCOME PER SHARE

12 Months Ended

Feb. 01, 2025

NET INCOME PER SHARE

NET INCOME (LOSS) PER SHARE

NOTE 15—NET INCOME PER SHARE

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

	YEAR ENDED
	FEBRUARY 1,		FEBRUARY 3,		JANUARY 28,
	2025		2024		2023
Weighted-average shares—basic		18,487,319		19,880,576		23,523,065
Effect of dilutive stock-based awards		1,383,386		1,518,408		2,675,660
Effect of dilutive convertible senior notes(1)		120,894		201,494		363,263
Weighted-average shares—diluted		19,991,599		21,600,478		26,561,988

(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 and 2024 Notes matured in June 2023 and September 2024, respectively, and did not have an impact on our diluted share count post-maturity. Refer to Note 11—Convertible Senior Notes.

The following number of options and restricted stock units, as well as shares issuable under convertible senior notes, were excluded from the calculation of diluted net income per share because their inclusion would have been anti-dilutive:

	YEAR ENDED
	FEBRUARY 1,		FEBRUARY 3,		JANUARY 28,
	2025		2024		2023
Options		1,591,655		1,316,836		1,096,269
Restricted stock units		8,990		15,313		19,154
Convertible senior notes		—		—		231,618