Basic and Diluted Net Loss per Share

9 Months Ended

Oct. 31, 2022

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders for the three and nine months ended October 31, 2022 and 2021:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2022		2021		2022		2021
	(in thousands, except share and per share data)
Numerator:
Net loss	$	(84,480)	$	(69,442)	$	(266,446)	$	(72,092)

Adjust: Cumulative dividends on redeemable convertible preferred stock	—		—		—		(4,292)
Adjust: Deemed dividends attributable to vested option holders	—		—		—		(51,855)
Adjust: Deemed dividends attributable to common stock warrant holders	—		—		—		(110,635)
Net loss attributable to common stockholders - Basic	(84,480)		(69,442)		(266,446)		(238,874)
Less: Gain attributable to earnout shares issued	—		—		—		(84,420)
Less: Change in fair value of dilutive warrants	—		—		—		(51,106)
Net loss attributable to common stockholders - Diluted	$	(84,480)	$	(69,442)	$	(266,446)	$	(374,400)
Denominator:
Weighted average common shares outstanding	339,674,302		325,223,132		337,135,962		286,272,045
Less: Weighted average unvested restricted shares and shares subject to repurchase	(78,917)		(188,212)		(98,851)		(246,562)
Weighted average shares outstanding - Basic	339,595,385		325,034,920		337,037,111		286,025,483
Add: Earnout Shares under the treasury stock method	—		—		—		4,948,794
Add: Public and Private Placement Warrants under the treasury stock method	—		—		—		1,601,041
Weighted average shares outstanding - Diluted	339,595,385		325,034,920		337,037,111		292,575,318

Net loss per share - Basic	$	(0.25)	$	(0.21)	$	(0.79)	$	(0.84)
Net loss per share - Diluted	$	(0.25)	$	(0.21)	$	(0.79)	$	(1.28)

As a result of the Merger, the Company retroactively adjusted the weighted average number of shares of Common Stock outstanding prior to the Closing Date by multiplying them by the Exchange Ratio of 0.9966 used to determine the number of shares of Common Stock into which they converted. The Common Stock issued as a result of the redeemable convertible preferred stock conversion on the Closing Date was included in the basic net loss per share calculation on a prospective basis.

Redeemable convertible preferred stock and preferred stock warrants outstanding prior to the Merger were excluded from the diluted net loss per share calculation for the nine-month period ended October 31, 2021, because including them would have had an antidilutive effect.

The potential shares of Common Stock that were excluded from the computation of diluted net loss per share attributable to common stockholders at each period end because including them would have had an antidilutive effect were as follows:


	October 31, 2022	October 31, 2021
2027 Convertible Notes (on an as-converted basis)	12,483,569	—
Options to purchase common stock	18,785,716	24,855,043
Restricted stock units	13,030,259	3,906,058
Unvested early exercised common stock options	67,318	164,778
Common stock and preferred stock warrants	34,587,257	35,584,603
Employee stock purchase plan	1,660,491	942,335
Total potentially dilutive common share equivalents	80,614,610	65,452,817