Net Loss Per Share

6 Months Ended

Jul. 31, 2026

The Company computes net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting and conversion rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses.

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


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025
Numerator:
Net loss	$	(39,189)	$	(48,360)	$	(53,594)	$	(88,378)
Denominator:
Weighted-average shares used in calculating net loss per share, basic and diluted	230,818		236,218		234,431		235,550
Net loss per share, basic and diluted	$	(0.17)	$	(0.20)	$	(0.23)	$	(0.38)

The potential shares of common stock that were excluded from the computation of diluted net loss per share for the period presented because including them would have been anti-dilutive are as follows (in thousands):


	Three Months Ended July 31,		Six Months Ended July 31,
	2026	2025	2026	2025
Stock options	3,826	5,477	3,826	5,477
Restricted stock units	23,342	19,295	23,342	19,295
Performance-based restricted stock units (1)	5,049	944	5,049	944
Shares issuable pursuant to the 2020 Employee Stock Purchase Plan	520	450	520	450
Total	32,737	26,166	32,737	26,166

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(1)Performance-based restricted stock units are presented at the number of shares eligible to vest based on 100% target attainment of the market and performance conditions, however the number of shares that ultimately vest will range between zero and 200% depending on the specific award terms.