The following table sets forth the computation of basic and diluted net loss per share:


	Three Months Ended January 31,				Six Months Ended January 31,
	2023		2022		2023		2022

	(in thousands)				(in thousands)
Net loss	$	(57,453)	$	(100,420)	$	(125,615)	$	(191,221)
Weighted-average shares used in computing net loss per share, basic and diluted	144,511		140,515		144,001		139,901
Net loss per share, basic and diluted	$	(0.40)	$	(0.71)	$	(0.87)	$	(1.37)

Since we have reported net losses for all periods presented, we have excluded all potentially dilutive securities from the calculation of the diluted net loss per share as their effect is antidilutive and accordingly, the basic and diluted net loss per share is the same for all periods presented.

Prior to the adoption of ASU 2020-06, we calculated the potential dilutive effect of the Notes under the treasury stock method. As a result, only the amount by which the conversion value exceeded the aggregate principal amount of the Notes (the “conversion spread”) was considered in the diluted earnings per share computation. The conversion spread only had a

dilutive impact on diluted net income per share when the average market price of our common stock for a given reporting period exceeded the initial conversion price of $150.80 per share for the Notes.

Upon the adoption of ASU 2020-06 on August 1, 2022, we calculated the potential dilutive effect of the Notes under the if-converted method. Under this method, diluted earnings per share is determined by assuming that all of the Notes were converted into shares of our common stock at the beginning of the reporting period.

In connection with the issuance of the Notes, we entered into Capped Calls, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The Capped Calls are expected to partially offset the potential dilution to our common stock upon any conversion of the Notes. We have not exercised any of the Capped Calls as of January 31, 2023.

The following table summarizes the potentially dilutive securities outstanding as of January 31, 2023 and 2022 that were excluded from the computation of diluted net loss per share as their effect would be antidilutive:


	January 31,
	2023	2022

	(in thousands)

Unvested RSUs and shares of common stock	6,747	6,843
Stock options	1,444	1,921
Unvested PSAs (1)	721	835
Share purchase rights under the ESPP	796	798
Notes	7,626	7,626
Total	17,334	18,023