
	Three Months Ended
	May 2, 2026						May 3, 2025
	Common Stock		Series A Preferred Stock		Consolidated
Basic net income per share:
Numerator:
Allocation of undistributed loss	$	(19.1)	$	(0.2)	$	(19.3)
Dividends declared	52.5		1.3		53.8
Net income — basic	$	33.4	$	1.1	$	34.5	$	177.9

Denominator:
Weighted-average shares outstanding — basic	874.1		7.9		882.0		864.8

Net income per share — basic	$	0.04	$	0.14	$	0.04	$	0.21

Diluted net income per share:
Numerator:
Net income — basic	$	33.4	$	1.1	$	34.5
Allocation of earnings assuming conversion of preferred stock	1.1		—		*

Net income — diluted	$	34.5	$	1.1	$	34.5	$	177.9

Denominator:
Weighted-average shares outstanding — basic	874.1		7.9		882.0		864.8
Effect of dilutive securities:
Stock-based awards and warrant shares	11.3		—		11.3		10.8
Conversion of preferred stock	7.9		—		*		—
Weighted-average shares outstanding — diluted	893.3		7.9		893.3		875.6

Net income per share — diluted	$	0.04	$	0.14	$	0.04	$	0.20












Anti-dilutive potential common shares					3.0		3.4

The Company’s Series A Preferred Stock represents a second class of common stock for purposes of computing net income per share under the two-class method. This determination reflects that the Series A Preferred Stock does not have any material preferential rights relative to the Company’s common shares, and its rights and privileges are identical to common shares, except for certain voting rights. See “Note 10 – Stockholders’ Equity” for additional information.

Basic net income per common share is calculated by dividing net income allocated to common stockholders including dividends declared, by the weighted-average number of common shares outstanding during the period. Potentially dilutive securities are included in the weighted-average number of common shares outstanding for the computation of diluted net income per common share. The Company applies the treasury stock method for potentially dilutive common shares from stock-based awards, including stock options, restricted stock units, employee stock purchase plan shares and warrant shares. Convertible preferred stock is included in the calculation of diluted net income per common share using the if-converted method. Under the if‑converted method, preferred stock dividends declared and the proportionate share of undistributed earnings (loss) previously attributable to preferred stock are added back to net income allocated to common stockholders, as such shares are assumed to have been converted to common stock at the beginning of the period or date of issuance on a weighted-average basis. In periods of net loss, all potentially dilutive securities are anti-dilutive.

Basic and diluted net income per preferred share is calculated by dividing net income allocated to preferred stockholder divided by the assumed conversion of preferred stock using the if-converted method on a weighted-average basis. Net income per preferred share was comparatively higher in the period of issuance based on the allocation of undistributed earnings (loss) using weighted-average shares outstanding, and in contrast, dividends were allocated based on shares outstanding as of the date of record.