Annual report [Section 13 and 15(d), not S-K Item 405]

Net Income Per Share

v3.26.1
Net Income Per Share
 12 Months Ended
Jan. 31, 2026
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
The Company has two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock 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 income per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both an individual and combined basis.
Basic net income per share is computed by dividing net income attributable to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) for the period. Diluted net income per share is calculated by giving effect to all potential dilutive common stock equivalents, which includes stock options, RSUs, PSUs and other awards.
The following table sets forth the computation of basic and diluted net income per share:
Year Ended January 31,
(in thousands, except per share data)
 2026 2025 2024
Net income per share – basic:
Numerator:
Net income $ 22,905  $ 121,609  $ 51,403 
Denominator:
Weighted-average shares outstanding used in computing net income per share, basic 250,834 260,241 269,974
Net income per common share, basic $ 0.09  $ 0.47  $ 0.19 
Net income per share – diluted:
Numerator:
Net income $ 22,905  $ 121,609  $ 51,403 
Denominator:
Weighted-average shares outstanding used in computing net income per share, basic 250,834  260,241  269,974 
Weighted-average effect of diluted securities:
Stock options 4,697 7,563  11,749 
PSUs 1,014  244  — 
RSUs 1,420 6,725  4,783 
Common stock warrants — —  587 
Weighted-average shares outstanding used in computing net income per share, diluted 257,965  274,773  287,093 
Net income per common share, diluted $ 0.09  $ 0.44  $ 0.18 
Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
Year Ended January 31,
(in thousands) 2026 2025 2024
Stock options 4,272  4,870  2,595 
PSUs 762  1,314  780 
RSUs 7,109  2,872  415 
ESPP Rights 140  100  91 
Warrants to purchase common stock —  39  — 
Total shares excluded from net income per share 12,283  9,195  3,881