For periods in which there were Class A and Class B shares outstanding, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both individual and combined basis.

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share amounts):


	Three Months Ended July 31,
	2026				2025
	Class A		Class B		Class A		Class B
Numerator:
Net loss	$	(48,725)	$	(13,052)	$	(64,474)	$	(31,455)
Denominator:
Weighted-average common stock shares used in computing net loss per share, basic and diluted	162,554		43,543		130,985		63,905
Net loss per common stock share, basic and diluted	$	(0.30)	$	(0.30)	$	(0.49)	$	(0.49)


	Six Months Ended July 31,
	2026				2025
	Class A		Class B		Class A		Class B
Numerator:
Net loss	$	(81,247)	$	(22,383)	$	(124,810)	$	(73,223)
Denominator:
Weighted-average common stock shares used in computing net loss per share, basic and diluted	160,646		44,257		121,817		71,467
Net loss per common stock share, basic and diluted	$	(0.51)	$	(0.51)	$	(1.02)	$	(1.02)

The following outstanding potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been antidilutive (in thousands):


	Three and Six Months Ended July 31,
	2026	2025
Issued and outstanding stock options	8,657	9,129
Unvested RSUs issued and outstanding	21,677	22,372

Convertible notes	9,218	9,218
Restricted stock issued for business combination	396	402
Total	39,948	41,121

The Company entered into the Capped Calls in connection with the issuance of the Convertible Notes. The effect of the Capped Calls was excluded from the calculation of diluted net loss per share attributable to the Company’s Class A common stockholders as the effect of the Capped Calls would have been anti-dilutive. The Capped Calls are generally expected to reduce the potential dilution to the Company’s Class A common stock upon any conversion of the relevant series of the Convertible Notes. See Note 7, Debt.