NET LOSS PER SHARE

We compute basic net income (loss) per share using the weighted average number of common shares outstanding during the period. We compute diluted net income (loss) per share using the weighted average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares include shares issuable upon the exercise of stock options, the exercise of common stock warrants, the vesting of RSUs, and each purchase under our ESPP, under the treasury stock method.

In loss periods, basic net loss per share and diluted net loss per share are the same since the effect of potential common shares is anti-dilutive and therefore excluded.

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. As the liquidation and dividend rights are identical, our undistributed earnings or losses are allocated on a proportionate basis among the holders of both Class A and Class B common stock. As a result, the net income (loss) per share attributed to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis.

Net Loss Per Share Attributable to Class A and Class B Common Stockholders—The computation of basic and diluted net loss per share is as follows (in thousands, except share and per share data):



	Three Months Ended October 31,
	2016 *As Adjusted			2017
Numerator:
Net loss	$	(140,302	)	$	(61,487	)
Denominator:
Weighted-average shares—basic and diluted	74,373,788			156,780,631
Net loss per share attributable to common stockholders—basic and diluted	$	(1.89	)	$	(0.39	)

* See Note 3 for a summary of adjustments related to the adoption of the new revenue recognition standard.

The potential shares of 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 are as follows:



	Three Months Ended October 31,
	2016	2017
Outstanding stock options and RSUs	40,764,842	34,400,643
Employee stock purchase plan	2,304,960	2,089,383
Common stock subject to repurchase	727,254	152,558
Common stock warrants	769,094	34,180
Total	44,566,150	36,676,764