EXHIBIT 11
 
                     CYBERIAN OUTPOST, INC. AND SUBSIDIARY
 
                         Computation of Loss per Share
                     (In thousands, except per share data)
                                  (Unaudited)
 


                                Three months ended         Nine months ended
                             ------------------------- -------------------------
                             November 30, November 30, November 30, November 30,
                                 1998         1997         1998         1997
                             ------------ ------------ ------------ ------------
                                                        
Basic and Diluted
 Net loss applicable to
  common stockholders......    $(7,629)     $ (1,074)    $(18,229)    $(2,634)
                               =======      ========     ========     =======
 Basic and diluted weighted
  average shares
  outstanding..............     22,298         6,680       13,640       6,618
                               =======      ========     ========     =======
 Basic and diluted loss per
  share....................    $ (0.34)     $  (0.16)    $  (1.34)    $ (0.40)
                               =======      ========     ========     =======
Pro forma Basic and Diluted
 Pro forma net loss
  applicable to common
  stockholders ............    $(7,629)     $ (1,074)    $(17,406)    $(2,634)
                               =======      ========     ========     =======
 Basic and diluted weighted
  average shares
  outstanding..............     22,298         8,721       19,515       7,800
                               =======      ========     ========     =======
 Basic and diluted pro
  forma loss per share ....    $ (0.34)     $  (0.12)    $  (0.89)    $ (0.34)
                               =======      ========     ========     =======