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Net Income per Share Attributable to Common Stockholders
 3 Months Ended
Apr. 30, 2024
Earnings Per Share [Abstract]  
Net Income per Share Attributable to Common Stockholders

Note 9. Net Income per Share Attributable to Common Stockholders

Basic net income per share is computed by dividing net income by the weighted-average number of common stocks outstanding for the period. Diluted net income per share is computed by giving effect to all potential weighted-average dilutive common stock, including stock options, restricted stock units, ESPP, and convertible senior notes.

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except per share amounts):

 

 

 

Three Months Ended April 30,

 

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

Net income

 

$

17,222

 

 

$

8,350

 

Accretion and dividend on series A convertible preferred stock

 

 

(4,240

)

 

 

(4,224

)

Undistributed earnings attributable to preferred stockholders

 

 

(1,469

)

 

 

(470

)

Net income attributable to common stockholders, basic and diluted

 

$

11,513

 

 

$

3,656

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted-average number of shares used to compute net income per share attributable to common stockholders, basic

 

 

145,299

 

 

 

144,739

 

Dilutive effect of awards issued under employee equity plans

 

 

2,694

 

 

 

4,247

 

Dilutive effect of shares related to the convertible senior notes

 

 

764

 

 

 

1,450

 

Weighted-average number of shares used to compute net income per share attributable to common stockholders, diluted

 

 

148,757

 

 

 

150,436

 

 

 

 

 

 

 

 

Net income per share attributable to common stockholders, basic

 

$

0.08

 

 

$

0.03

 

Net income per share attributable to common stockholders, diluted

 

$

0.08

 

 

$

0.02

 

 

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

 

 

 

Three Months Ended April 30,

 

 

 

2024

 

 

2023

 

Options to purchase common stock

 

 

26

 

 

 

7

 

Restricted stock units

 

 

4,511

 

 

 

670

 

Employee stock purchase plan

 

 

870

 

 

 

1,417

 

Shares related to convertible preferred stock

 

 

18,540

 

 

 

18,586

 

Total

 

 

23,947

 

 

 

20,680