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Net Income (Loss) Per Share | 12 Months Ended
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Jan. 31, 2025
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share The following table presents the calculation of basic and diluted net income (loss) per share. Net income (loss) is reported in millions and rounded from amounts in thousands; as a result, net income (loss) per share may not recalculate exactly due to rounding.
| Year Ended January 31,
| 2025 |  | 2024 |  | 2023
| Class A |  | Class B |  |  |  | Class A |  | Class B |  |  |  | Class A |  | Class B |  |
| (dollars in millions, shares in thousands, except per share data)
Basic net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss), basic | $ | 27 |  |  | $ | 1 |  |  |  |  | $ | (339) |  |  | $ | (16) |  |  |  |  | $ | (778) |  |  | $ | (37) |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding, basic | 162,082 |  |  | 7,487 |  |  |  |  | 156,335 |  |  | 7,299 |  |  |  |  | 150,891 |  |  | 7,132 |  |  |
Net income (loss) per share, basic | $ | 0.16 |  |  | $ | 0.16 |  |  |  |  | $ | (2.17) |  |  | $ | (2.17) |  |  |  |  | $ | (5.16) |  |  | $ | (5.16) |  |  |
Diluted net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 27 |  |  | $ | 1 |  |  |  |  | $ | (339) |  |  | $ | (16) |  |  |  |  | $ | (778) |  |  | $ | (37) |  |  |
Gain on extinguishment of debt, net of interest expense 1 | (17) |  |  | (1) |  |  |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  |
Net income (loss), diluted | $ | 10 |  |  | $ | — |  |  |  |  | $ | (339) |  |  | $ | (16) |  |  |  |  | $ | (778) |  |  | $ | (37) |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of shares used in basic calculation | 162,082 |  |  | 7,487 |  |  |  |  | 156,335 |  |  | 7,299 |  |  |  |  | 150,891 |  |  | 7,132 |  |  |
Weighted-average effect of diluted securities related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee share-based awards | 1,832 |  |  | 2,942 |  |  |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  |
Convertible senior notes | 743 |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  |
Assumed conversion of Class B to Class A common shares | 10,429 |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  |
Number of shares used in diluted calculation | 175,086 |  |  | 10,429 |  |  |  |  | 156,335 |  |  | 7,299 |  |  |  |  | 150,891 |  |  | 7,132 |  |  |
Net income (loss) per share, diluted | $ | 0.06 |  |  | $ | 0.06 |  |  |  |  | $ | (2.17) |  |  | $ | (2.17) |  |  |  |  | $ | (5.16) |  |  | $ | (5.16) |  |  |
1 Under the if-converted method, net income is adjusted to reflect the assumption that the convertible senior notes were converted at the beginning of the period. |  |
Potentially dilutive securities excluded because they would be anti-dilutive were as follows:
| Year Ended January 31,
| 2025 |  | 2024 |  | 2023
| (shares in thousands)
Employee share-based awards | 4,503 |  |  | 15,179 |  |  | 17,334 |
Convertible senior notes | 4,170 |  |  | 5,473 |  |  | 11,485 |
Total | 8,673 |  |  | 20,652 |  |  | 28,819 |
The Company entered into capped call transactions in connection with the issuance of the convertible senior notes. The effect of the capped calls was also excluded from the calculation of diluted net income per share as the effect of the capped calls would have been anti-dilutive.

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