Net Loss Per Share Attributable to Common Stockholders

6 Months Ended

Sep. 30, 2023

Net Loss Per Share Attributable to Common Stockholders

14. Net Loss Per Share Attributable to Common Stockholders

The net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for Class A common stock and Class B common stock under the two-class method.

No dividends were declared or paid for the three and six months ended September 30, 2023 and 2022.

The Company’s stock options, RSUs, restricted stock awards subject to vesting, and estimated shares to be issued under the ESPP are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.

Net loss attributable to common stockholders was equivalent to net loss for all periods presented.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Three Months Ended September 30,												Six Months Ended September 30,
	2023						2022						2023						2022
	Class A			Class B			Class A			Class B			Class A			Class B			Class A			Class B
	(in thousands, except share and per share data)												(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(48,699	)	$	(26,571	)	$	(38,067	)	$	(27,999	)	$	(115,546	)	$	(64,348	)	$	(87,069	)	$	(68,529	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		307,225,596			167,632,670			259,230,808			190,668,729			300,973,789			167,618,220			250,807,903			197,403,805
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic and diluted	$	(0.16	)	$	(0.16	)	$	(0.15	)	$	(0.15	)	$	(0.38	)	$	(0.38	)	$	(0.35	)	$	(0.35	)

The potential shares of Class A common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive were as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2023		2022		2023		2022
Outstanding stock options		75,637,943		69,845,695		75,637,943		69,845,695
Restricted stock units		40,725,010		24,961,669		40,725,010		24,961,669
Shares subject to vesting		301,314		3,044,461		301,314		3,044,461
ESPP		5,662,218		2,863,702		5,662,218		2,863,702
Total		122,326,485		100,715,527		122,326,485		100,715,527

There were no potential shares of Class B common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented.