| Basic and Diluted Net Loss per Share |
Basic and Diluted Net Loss per Share The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders for the years ended January 31, 2026, 2025, and 2024, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, Description of Business and Basis of Presentation: | | | | | | | | | | | | | | | | | | | Year Ended January 31, | | 2026 | | 2025 | | 2024 | | (in thousands, except share and per share data) | | Numerator: | | | | | | | Net income (loss) | $ | (220,197) | | | $ | (277,066) | | | $ | (457,609) | | | | | | | | | | | | | | | | | | | | | | | | | | | Net loss attributable to common stockholders - Basic | $ | (220,197) | | | $ | (277,066) | | | $ | (457,609) | | | | | | | | | | | | | | | Net loss attributable to common stockholders - Diluted | $ | (220,197) | | | $ | (277,066) | | | $ | (457,609) | | | Denominator: | | | | | | Weighted average common shares outstanding | 23,408,373 | | 21,674,490 | | 18,777,196 | | Less: Weighted-average unvested restricted shares and shares subject to repurchase | — | | | — | | | (702) | | | Weighted average shares outstanding - Basic | 23,408,373 | | 21,674,490 | | 18,776,494 | | | | | | | | | | | | | | Weighted average shares outstanding - Diluted | 23,408,373 | | 21,674,490 | | 18,776,494 | | | | | | | | Net loss per share - Basic | $ | (9.41) | | | $ | (12.78) | | | $ | (24.37) | | Net loss per share - Diluted | $ | (9.41) | | | $ | (12.78) | | | $ | (24.37) | |
The potential shares of Common Stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, Description of Business and Basis of Presentation, because including them would have had an antidilutive effect were as follows: | | | | | | | | | | | | | | | | | | | Year Ended January 31, | | 2026 | | 2025 | | 2024 | | | | | | | 2028 Convertible Notes (on an as-converted basis) | 47,208 | | | 1,303,124 | | | 1,250,000 | | Options to purchase common stock | 118,756 | | | 135,296 | | | 569,838 | | | | | | | | | Restricted stock units | 2,195,297 | | | 1,830,854 | | | 1,420,806 | | Unvested early exercised common stock options | — | | | — | | | 33 | | | 2025 Warrants | 1,671,000 | | | — | | | — | | Legacy Warrants | 1,724,961 | | | 1,724,961 | | | 1,724,961 | | | Employee stock purchase plan | 840,035 | | | 422,113 | | | 467,433 | | Total potentially dilutive common share equivalents | 6,597,257 | | | 5,416,348 | | | 5,433,071 | |
PRSUs granted during the fiscal years ended January 31, 2026, 2025 and 2024 were excluded from the above table because the respective stock price targets had not been met as of the year end.
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