Net Income (Loss) Per Share

12 Months Ended

Jan. 31, 2025

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) for the period. Diluted net income (loss) per share is calculated by giving effect to all potential dilutive common stock equivalents, which includes stock options, restricted stock units and other awards. In periods of losses, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential shares outstanding would be anti-dilutive.

The Company has two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting, conversion and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income (loss) per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both an individual and combined basis.

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Year Ended January 31,
(in thousands, except per share data)	2025		2024		2023
Net income (loss) per share – basic:
Numerator:
Net income (loss)	$	121,609	$	51,403	$	(55,742)
Denominator:
Weighted-average shares outstanding used in computing net income (loss) per share, basic	260,241		269,974		259,530
Net income (loss) per common share, basic	$	0.47	$	0.19	$	(0.21)
Net income (loss) per share - diluted:
Numerator:
Net income (loss)	$	121,609	$	51,403	$	(55,742)
Denominator:
Weighted-average shares outstanding used in computing net income (loss) per share, basic	260,241		269,974		259,530
Weighted-average effect of diluted securities:
Stock options	7,563		11,749		—
PSUs	244		—		—
RSUs	6,725		4,783		—
Common stock warrants	—		587		—

Weighted-average shares outstanding used in computing net income (loss) per share, diluted	274,773		287,093		259,530
Net income (loss) per common share, diluted	$	0.44	$	0.18	$	(0.21)

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	Year Ended January 31,
(in thousands)	2025	2024	2023
Stock options	4,870	2,595	33,049
PSUs	1,314	780	1,450
RSUs	2,872	415	9,400
ESPP	100	91	168
Warrants to purchase common stock	39	—	2,500
Total shares excluded from net income (loss) per share	9,195	3,881	46,567