Annual report pursuant to Section 13 and 15(d)

Net Loss Per Share

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Net Loss Per Share
12 Months Ended
Jan. 31, 2012
Net Loss Per Share [Abstract]  
Net Loss Per Share
10. Net Loss Per Share

Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.

Diluted net loss per share is computed by giving effect to all potential shares of common stock, including stock options, convertible preferred stock warrants and redeemable convertible preferred stock, to the extent dilutive. Basic and diluted net loss per share was the same for each year presented 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.

 

     Fiscal Year Ended January 31,  
     2010     2011     2012  
     (in thousands)  

Numerator

      

Net loss

   $ (16,753   $ (1,764   $ (16,107

Deemed dividend on Series D and Series E

     (1,443     —          —     

Accretion of redeemable convertible preferred stock

     (218     (300     (110

Increase in cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred stock

     (6,461     (8,978     (3,648
  

 

 

   

 

 

   

 

 

 

Net loss attributable to common stockholders

   $ (24,875   $ (11,042   $ (19,865
  

 

 

   

 

 

   

 

 

 

 

     Fiscal Year Ended January 31,  
     2010     2011     2012  
     (in thousands)  

Denominator

      

Weighted-average common shares outstanding used in computing basic and diluted net loss per share

     6,482        10,761        105,955   
  

 

 

   

 

 

   

 

 

 

Net loss per share, basic and diluted

   $ (3.84   $ (1.03   $ (0.19
  

 

 

   

 

 

   

 

 

 

Net loss is increased by the cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred shares earned each year to arrive at net loss attributable to common stockholders.

The reversal of dividends on redeemable convertible preferred stock recorded on the statement of redeemable convertible preferred stock and shareholders' deficit for the fiscal year ended January 31, 2011 reflects the reversal of previously recorded accretion of the redemption value of the redeemable convertible preferred stock in connection with the issuance of Series G and the reversal of previously recorded incremental dividends recorded for the portion of the cumulative dividends for which the Company did not have sufficient authorized shares of common stock as of January 31, 2010 while the amount of dividends reflected in the net loss per share calculation above represents the total increase in cumulative dividends during the fiscal year ended January 31, 2011.

 

Net loss was increased by the cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred shares earned during the period to arrive at net loss attributable to common stockholders for the fiscal year January 31, 2011. For the fiscal year ended January 31, 2012 dividends were accrued up through the conversion at the close of the IPO.

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:

 

     As of January 31,  
     2010      2011      2012  
     (in thousands)  

Options to purchase common stock

     31,388         33,408         34,811   

Warrants to purchase convertible preferred stock

     589         403         —     

Warrants to purchase common stock

     —           —           155   

Restricted stock units

     —           —           1,427   

Convertible preferred stock

     129,041         137,295         —     
  

 

 

    

 

 

    

 

 

 

Total common stock equivalents

     161,018         171,106         36,393