The Company computes net loss per share utilizing the two-class method required for participating securities. Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential common stock, including stock options, convertible preferred stock, convertible notes, RSUs, and restricted shares, to the extent they are dilutive.

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.

Basic and diluted net loss per share attributable to common stockholders was as follows (in thousands, except share and per share amounts):


	Three Months Ended July 31,						Six Months Ended July 31,
	2026			2025			2026			2025
Numerator:
Net loss attributable to common stockholders	$	(110,817	)	$	(90,301	)	$	(227,313	)	$	(169,543	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		405,045,835			108,096,178			402,802,925			106,429,655
Net loss per share attributable to common stockholders, basic and diluted	$	(0.27	)	$	(0.84	)	$	(0.56	)	$	(1.59	)

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:


	July 31,
	2026		2025
Stock options		46,990,777		53,487,228
Convertible preferred stock		-		218,897,608
Convertible notes		22,536,463		21,258,674
Restricted stock units		53,010,219		61,473,168
Shares subject to repurchase		172,977		377,882
Total		122,710,436		355,494,560