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Net Income (Loss) Per Share | 9 Months Ended
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Oct. 31, 2021
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, net of treasury stock. Diluted net income (loss) per share is computed by giving effect to all potentially dilutive shares of common stock, including our outstanding stock options, unvested RSUs, PRSUs, and RSAs, convertible senior notes, outstanding warrants, and ESPP obligations. The net income (loss) per share attributable to common stockholders is allocated based on the contractual participation rights of the Class A common shares and Class B common shares as if the income (loss) for the period had been distributed. As the liquidation and dividend rights are identical, the net income (loss) attributable to common stockholders is allocated on a proportionate basis. The computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) per share of Class B common stock does not assume the conversion of those shares. Basic and diluted net loss per share was the same for the three and nine months ended October 31, 2020, as the inclusion of all potential common shares outstanding would have been anti-dilutive. The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
| Three Months Ended October 31, |  | Nine Months Ended October 31,
| 2021 |  | 2020 |  | 2021 |  | 2020
| Class A |  | Class B |  | Class A |  | Class B |  | Class A |  | Class B |  | Class A |  | Class B
Net income (loss) per share, basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 33,417 |  |  | $ | 9,995 |  |  | $ | (18,199) |  |  | $ | (6,141) |  |  | $ | 78,546 |  |  | $ | 24,080 |  |  | $ | (156,526) |  |  | $ | (54,198) |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding, basic | 191,259 |  |  | 57,209 |  |  | 178,004 |  |  | 60,055 |  |  | 188,546 |  |  | 57,802 |  |  | 175,071 |  |  | 60,614 |
Net income (loss) per share, basic | $ | 0.17 |  |  | $ | 0.17 |  |  | $ | (0.10) |  |  | $ | (0.10) |  |  | $ | 0.42 |  |  | $ | 0.42 |  |  | $ | (0.89) |  |  | $ | (0.89) |
Net income (loss) per share, diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | 33,417 |  |  | 9,995 |  |  | (18,199) |  |  | (6,141) |  |  | 78,546 |  |  | 24,080 |  |  | (156,526) |  |  | (54,198) |
Reallocation of net income and interest expense as a result of conversion of Class B to Class A common stock | 9,995 |  |  | — |  |  | — |  |  | — |  |  | 24,080 |  |  | — |  |  | — |  |  | — |
Reallocation of net income and interest expense to Class B common stock | — |  |  | (247) |  |  | — |  |  | — |  |  | — |  |  | (718) |  |  | — |  |  | — |
Net income (loss) for diluted calculation | 43,412 |  |  | 9,748 |  |  | (18,199) |  |  | (6,141) |  |  | 102,626 |  |  | 23,362 |  |  | (156,526) |  |  | (54,198) |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding, basic | 191,259 |  |  | 57,209 |  |  | 178,004 |  |  | 60,055 |  |  | 188,546 |  |  | 57,802 |  |  | 175,071 |  |  | 60,614 |
Conversion of Class B to Class A common stock | 57,209 |  |  | — |  |  | — |  |  | — |  |  | 57,802 |  |  | — |  |  | — |  |  | — |
Shares related to outstanding options, unvested RSUs, PRSUs, RSAs, and ESPP obligations | 4,933 |  |  | — |  |  | — |  |  | — |  |  | 6,456 |  |  | — |  |  | — |  |  | — |
Shares subject to warrants related to the issuance of convertible senior notes | 1,359 |  |  | — |  |  | — |  |  | — |  |  | 1,113 |  |  | — |  |  | — |  |  | — |
Weighted-average shares outstanding, diluted | 254,760 |  |  | 57,209 |  |  | 178,004 |  |  | 60,055 |  |  | 253,917 |  |  | 57,802 |  |  | 175,071 |  |  | 60,614 |
Net income (loss) per share, diluted | $ | 0.17 |  |  | $ | 0.17 |  |  | $ | (0.10) |  |  | $ | (0.10) |  |  | $ | 0.40 |  |  | $ | 0.40 |  |  | $ | (0.89) |  |  | $ | (0.89) |
The weighted-average number of shares outstanding used in the computation of diluted net income (loss) per share does not include the effect of the following potentially outstanding shares of common stock. The effects of these potentially outstanding shares were not included in the calculation of diluted net income (loss) per share because the effect would have been anti-dilutive (in thousands):
| Three Months Ended October 31, |  | Nine Months Ended October 31,
| 2021 |  | 2020 |  | 2021 |  | 2020
Shares related to outstanding options, unvested RSUs, PRSUs, RSAs, and ESPP obligations | 151 |  |  | 18,169 |  |  | 189 |  |  | 17,125 |
Shares related to the convertible senior notes | 7,817 |  |  | 7,818 |  |  | 7,817 |  |  | 9,670 |
Shares subject to warrants related to the issuance of convertible senior notes | — |  |  | 10,857 |  |  | — |  |  | 10,870 |
Total | 7,968 |  |  | 36,844 |  |  | 8,006 |  |  | 37,665 |

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