|
10. Net Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing the net income (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 nine months ended October 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
October 31,
|
|
Nine Months Ended
October 31,
|
|
|
|
|
2011
|
|
2012
|
|
2011
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
638
|
|
$
|
2,052
|
|
$
|
(7,928
|
)
|
$
|
(23,591
|
)
|
|
Accretion of redeemable convertible preferred stock
|
|
—
|
|
—
|
|
(110
|
)
|
—
|
|
|
Increase in cumulative dividends payable upon conversion of liquidation of redeemable convertible preferred stock
|
|
—
|
|
—
|
|
(3,648
|
)
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to common stockholders
|
|
$
|
638
|
|
$
|
2,052
|
|
$
|
(11,686
|
)
|
$
|
(23,591
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding used in computing basic net income (loss) per share
|
|
161,288
|
|
169,391
|
|
86,976
|
|
167,423
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share, basic
|
|
$
|
0.00
|
|
$
|
0.01
|
|
$
|
(0.13
|
)
|
$
|
(0.14
|
)
|
|
Effect of dilutive options
|
|
29,538
|
|
20,722
|
|
—
|
|
—
|
|
|
Effect of dilutive restricted stock units
|
|
42
|
|
165
|
|
—
|
|
—
|
|
|
Effect of dilutive warrants to purchase common stock
|
|
146
|
|
—
|
|
—
|
|
—
|
|
|
Weighted-average common shares outstanding used in computing diluted net income (loss) per share
|
|
191,014
|
|
190,278
|
|
86,976
|
|
167,423
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share, diluted
|
|
$
|
0.00
|
|
$
|
0.01
|
|
$
|
(0.13
|
)
|
$
|
(0.14
|
)
|
For the nine months ended October 31, 2011 net loss was increased by the cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred shares earned during the nine months ended October 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 income (loss) per share because including them would have been anti-dilutive (in thousands):
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
October 31,
2011
|
|
October 31,
2012
|
|
October 31,
2011
|
|
October 31,
2012
|
|
|
Options to purchase common stock
|
|
1,930
|
|
4,442
|
|
36,598
|
|
29,016
|
|
|
Warrants to purchase common stock
|
|
—
|
|
—
|
|
155
|
|
—
|
|
|
Restricted stock units
|
|
169
|
|
2,841
|
|
553
|
|
4,290
|
|
|
Total common stock equivalents
|
|
2,099
|
|
7,283
|
|
37,306
|
|
33,306
|
|
|