The Company has two classes of common stock and, as such, applies the two-class method of computing earnings per share. As the rights are identical, including liquidation and dividend rights, except the Company’s Class B common stock has additional voting rights and is convertible at any time at the option of the holder into Class A common stock, and is automatically converted into Class A common stock upon transfer (except for certain permitted transfers), the net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for Class A and Class B common stock under the two-class method.

The Company’s stock options, RSUs, restricted stock awards subject to vesting, estimated RSUs to be issued under the AIP and estimated shares to be issued under the ESPP are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.


	Year Ended March 31,
	2025				2024				2023
	Class A		Class B		Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net loss from continuing operations	$	(164,247)	$	(70,949)	$	(367,252)	$	(199,689)	$	(125,145)	$	(85,549)
Net loss from discontinued operations	(31,906)		(13,783)		(64,624)		(35,139)		(59,967)		(40,995)
Net loss attributable to common stockholders	$	(196,153)	$	(84,732)	$	(431,876)	$	(234,828)	$	(185,112)	$	(126,544)
Denominator:
Weighted-average shares used in computing net loss per share, basic and diluted	18,029,140		7,787,977		15,416,522		8,382,592		13,408,859		9,166,360
Net loss per share attributable to common stockholders:
Net loss per share from continuing operations, basic and diluted	$	(9.11)	$	(9.11)	$	(23.82)	$	(23.82)	$	(9.33)	$	(9.33)
Net loss per share from discontinued operations, basic and diluted	(1.77)		(1.77)		(4.19)		(4.19)		(4.47)		(4.47)
Net loss per share attributable to common stockholders, basic and diluted	$	(10.88)	$	(10.88)	$	(28.01)	$	(28.01)	$	(13.80)	$	(13.80)

The potential shares of Class A 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 were as follows:


	Year Ended March 31,
	2025	2024	2023
Outstanding stock options	2,856,385	3,536,989	3,402,538
Unvested restricted stock units	2,067,067	2,202,834	1,328,128
Shares subject to vesting	—	—	128,804
AIP RSUs	—	655,820	423,042
ESPP	—	128,075	146,860
Total	4,923,452	6,523,718	5,429,372