Net Loss per Share

12 Months Ended

Feb. 02, 2020

Basic and diluted net loss per share attributable to common stockholders is presented using the two class method required for participating securities. Under the two class method, net loss attributable to common stockholders is determined by allocating undistributed earnings between common stock and participating securities. Undistributed earnings for the periods presented are calculated as net loss less distributed earnings.

Basic and diluted net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average shares outstanding during the period. The weighted-average shares outstanding during the periods presented reflects the reclassification of the 100 outstanding shares of common stock into 393,000,000 shares of Class B common stock.

For Fiscal Year 2019, Fiscal Year 2018, and Fiscal Year 2017, the Company’s basic and diluted net loss per share attributable to common Class A and Class B stockholders are the same because the Company has generated a net loss to common stockholders and common stock equivalents are excluded from diluted net loss per share as they have an antidilutive impact.

The following table sets forth basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except per share data):


	Fiscal Year
	2019		2018		2017 ⁽¹⁾
Total common stockholders
Numerator:
Net loss	$	(252,370)	$	(267,890)	$	(338,057)
Accretion of convertible redeemable preferred stock	—		—		(361,520)
Net loss attributable to common stockholders	$	(252,370)	$	(267,890)	$	(699,577)

Denominator:
Weighted average common shares used in computing net loss per share attributable to common Class A and Class B stockholders, basic and diluted	398,256		393,000		262,200

Net loss per share attributable to common Class A and Class B stockholders, basic and diluted	$	(0.63)	$	(0.68)	$	(2.67)

⁽¹⁾The computation of diluted loss per share attributable to common stockholders does not include 187,370 shares of Series A convertible redeemable preferred stock, 27,273 shares of Series A-1 convertible redeemable preferred stock, 116,324 shares of Series B convertible redeemable preferred stock, 114,461 shares of Series C convertible redeemable preferred stock, 103,534 shares of Series D convertible redeemable preferred stock, 79,290 shares of Series E convertible redeemable preferred stock, 67,397 shares of Series F convertible redeemable preferred stock, 60,000 shares of Series 1 preferred stock, 18,038 shares of unvested restricted stock, and 77,885 stock options for Fiscal Year 2017, as the effect of their inclusion would have been anti-dilutive.