XML 25 R16.htm IDEA: XBRL DOCUMENT
v3.22.1

Net Loss Per Share Attributable to Common Stockholders | 9 Months Ended
--- | ---
Apr. 30, 2022
Earnings Per Share [Abstract] |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders Basic and diluted loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities: Class A and Class B common stock. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock. Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. For the calculation of diluted loss per share, net loss attributable to common stockholders for basic loss per share is adjusted by the effect of dilutive securities. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding, including all potentially dilutive common shares. The undistributed earnings are allocated based on the contractual participation rights of the Class A and Class B common shares as if the earnings for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed loss is allocated on a proportionate basis. The computation of the diluted net loss per share of Class A common stock assumes the conversion of Class B common stock, while diluted net loss per share of Class B common stock does not assume the conversion of Class A common stock as Class A common stock is not convertible into Class B common stock. In January 2022, the Company's Board of Directors authorized a share repurchase program to repurchase up to $150.0 million of our outstanding Class A common stock, with no expiration date (the “2022 Repurchase Program”). The actual timing, number and value of shares repurchased in the future will be determined by the Company in its discretion and will depend on a number of factors, including market conditions, applicable legal requirements, our capital needs, and whether there is a better alternative use of capital. Repurchases during any given fiscal period under the 2022 Repurchase Program will reduce the number of weighted-average common shares outstanding for the period. A reconciliation of the numerator and denominator used in the calculation of basic and diluted loss per share attributable to common stockholders is as follows:
|  | For the Three Months Ended
|  | April 30, 2022 |  | May 1, 2021
(in thousands, except share and per share amounts) |  | Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |
Net loss |  | $ | (59,783) |  |  | $ | (18,257) |  |  | $ | (12,142) |  |  | $ | (6,704) |
Net loss attributable to common stockholders - basic |  | (59,783) |  |  | (18,257) |  |  | (12,142) |  |  | (6,704) |
Reallocation of undistributed loss as a result of conversion of Class B to Class A shares |  | (18,257) |  |  | — |  |  | (6,704) |  |  | — |
Net loss attributable to common stockholders - diluted |  | $ | (78,040) |  |  | $ | (18,257) |  |  | $ | (18,846) |  |  | $ | (6,704) |
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares of common stock - basic |  | 83,315,758 |  |  | 25,443,444 |  |  | 68,743,748 |  |  | 37,952,472 |
Conversion of Class B to Class A common shares outstanding |  | 25,443,444 |  |  | — |  |  | 37,952,472 |  |  | — |
Weighted-average shares of common stock - diluted |  | 108,759,202 |  |  | 25,443,444 |  |  | 106,696,220 |  |  | 37,952,472 |
Loss per share attributable to common stockholders: |  |  |  |  |  |  |  |
Basic |  | $ | (0.72) |  |  | $ | (0.72) |  |  | $ | (0.18) |  |  | $ | (0.18) |
Diluted |  | $ | (0.72) |  |  | $ | (0.72) |  |  | $ | (0.18) |  |  | $ | (0.18) |
|  | For the Nine Months Ended
|  | April 30, 2022 |  | May 1, 2021
(in thousands, except share and per share amounts) |  | Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |  |
Net loss |  | $ | (83,688) |  |  | $ | (27,091) |  |  | $ | (18,423) |  |  | $ | (11,921) |
Net loss attributable to common stockholders - basic |  | (83,688) |  |  | (27,091) |  |  | (18,423) |  |  | (11,921) |
Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares |  | (27,091) |  |  | — |  |  | (11,921) |  |  | — |
Net loss attributable to common stockholders - diluted |  | $ | (110,779) |  |  | $ | (27,091) |  |  | $ | (30,344) |  |  | $ | (11,921) |
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares of common stock - basic |  | 82,170,840 |  |  | 26,600,225 |  |  | 64,029,465 |  |  | 41,428,442 |
Conversion of Class B to Class A common shares outstanding |  | 26,600,225 |  |  | — |  |  | 41,428,442 |  |  | — |
Weighted-average shares of common stock - diluted |  | 108,771,065 |  |  | 26,600,225 |  |  | 105,457,907 |  |  | 41,428,442 |
Loss per share attributable to common stockholders: |  |  |  |  |  |  |  |
Basic |  | $ | (1.02) |  |  | $ | (1.02) |  |  | $ | (0.29) |  |  | $ | (0.29) |
Diluted |  | $ | (1.02) |  |  | $ | (1.02) |  |  | $ | (0.29) |  |  | $ | (0.29) |
As the Company has reported net loss for each of the periods presented, all potentially dilutive securities were considered antidilutive. The following common stock equivalents were excluded from the computation of diluted loss per share for the periods presented because including them would have been antidilutive:
| For the Three Months Ended |  | For the Nine Months Ended
| April 30, 2022 |  | May 1, 2021 |  | April 30, 2022 |  | May 1, 2021
Restricted stock units | 16,878,676 |  |  | 8,384,774 |  |  | 16,878,676 |  |  | 8,725,064 |
Stock options to purchase Class A common stock | 3,270,987 |  |  | 1,445,964 |  |  | 3,270,987 |  |  | 1,352,936 |
Stock options to purchase Class B common stock | 1,129,507 |  |  | 1,527,146 |  |  | 1,129,507 |  |  | 1,857,297 |
Total | 21,279,170 |  |  | 11,357,884 |  |  | 21,279,170 |  |  | 11,935,297 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration