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9. Net Loss Per Share
Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period.
Diluted net income per share is computed by giving effect to all potential shares of common stock, including stock options, restricted stock units, convertible preferred stock warrants and redeemable convertible preferred stock, to the extent dilutive. Basic and diluted net loss per share was the same for the three months and six months ended July 31, 2011 and 2012 as the inclusion of all potential common shares outstanding would have been anti-dilutive.
The following table sets forth the computation of historical basic and diluted net loss per share (in thousands except per share amounts):
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Three Months Ended
July 31,
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Six Months Ended
July 31,
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|
|
|
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2011
|
|
2012
|
|
2011
|
|
2012
|
|
|
Numerator
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net loss
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|
$
|
(1,812
|
)
|
$
|
(5,415
|
)
|
$
|
(8,566
|
)
|
$
|
(25,643
|
)
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|
Accretion of redeemable convertible preferred stock
|
|
(40
|
)
|
—
|
|
(110
|
)
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred stock
|
|
(1,328
|
)
|
—
|
|
(3,648
|
)
|
—
|
|
|
Net loss attributable to common stockholders
|
|
$
|
(3,180
|
)
|
$
|
(5,415
|
)
|
$
|
(12,324
|
)
|
$
|
(25,643
|
)
|
|
|
|
|
|
|
|
|
|
|
|
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Denominator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding used in computing basic and diluted net loss per share
|
|
82,389
|
|
167,429
|
|
49,204
|
|
166,428
|
|
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Net loss per share, basic and diluted
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|
$
|
(0.04
|
)
|
$
|
(0.03
|
)
|
$
|
(0.25
|
)
|
$
|
(0.15
|
)
|
For the three and six months ended July 31, 2011 net loss was increased by the cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred shares earned during the three and six months ended July 31, 2011 through the conversion at the close of the IPO in June 2011.
The following potential common shares outstanding were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive (in thousands):
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As of July 31,
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|
|
|
|
2011
|
|
2012
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|
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Options to purchase common stock
|
|
36,894
|
|
30,437
|
|
|
Warrants to purchase common stock
|
|
155
|
|
—
|
|
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Restricted stock units
|
|
—
|
|
3,591
|
|
|
Total common stock equivalents
|
|
37,049
|
|
34,028
|
|
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