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Net Loss Per Share
12 Months Ended
Jan. 31, 2019
Earnings Per Share [Abstract]  
Net Loss per Share

Note 12. Net Loss per Share

On June 14, 2018, all of our outstanding shares of Class B common stock automatically converted into the same number of shares of Class A common stock pursuant to the terms of our Amended and Restated Certificate of Incorporation. No additional shares of Class B common stock will be issued following such conversion. Refer to Note 10 for additional details related to the conversion of Class B common stock.

For periods where there were Class B shares outstanding, we calculate our basic and diluted net loss per share in conformity with the two-class method required for companies with participating securities. Under the two-class method, basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, less shares subject to repurchase. The diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, restricted stock units, shares issuable pursuant to our employee stock purchase plan, shares subject to repurchase from early exercised options and unvested restricted stock, and contingently issuable shares are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share as their effect is antidilutive.

The rights, including the liquidation and dividend rights, of the holders of our Class A and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. We did not present dilutive net loss per share on an as-if converted basis because the impact was not dilutive.

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share amounts):

 

 

 

Year Ended January 31,

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(131,089

)

 

$

(3,523

)

 

$

(115,847

)

 

$

(39,113

)

 

$

(64,771

)

 

$

(87,016

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares

   outstanding—basic and diluted

 

 

137,652

 

 

 

3,699

 

 

 

100,127

 

 

 

33,805

 

 

 

54,394

 

 

 

73,075

 

Net loss per share—basic and diluted

 

$

(0.95

)

 

$

(0.95

)

 

$

(1.16

)

 

$

(1.16

)

 

$

(1.19

)

 

$

(1.19

)

 

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been antidilutive (in thousands):

 

 

 

Year Ended January 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Options to purchase common stock

 

 

9,819

 

 

 

11,971

 

 

 

13,550

 

Restricted stock units

 

 

14,539

 

 

 

13,369

 

 

 

10,121

 

Employee stock purchase plan

 

 

1,353

 

 

 

1,624

 

 

 

2,090

 

Repurchasable shares from early-exercised options

   and unvested restricted stock

 

 

 

 

 

98

 

 

 

324

 

Contingently issuable common stock

 

 

 

 

 

3

 

 

 

77

 

 

 

 

25,711

 

 

 

27,065

 

 

 

26,162