Common Stock

6 Months Ended

Jul. 31, 2021

Equity [Abstract]

Common Stock

PREFERRED STOCK

Redeemable Convertible Preferred Stock

Upon the closing of the IPO, all 167,058,113 shares of our then-outstanding redeemable convertible preferred stock automatically converted to an aggregate of 169,787,200 shares of class B common stock. All of our redeemable convertible preferred stock converted on a one-to-one basis, other than 31,405,183 shares of our then-outstanding Series E redeemable convertible preferred stock, which converted into 34,134,270 shares of Class B common stock.

Our redeemable convertible preferred stock as of January 31, 2021 consisted of the following (in thousands, except share and per share data):

	As of January 31, 2021
	Shares Authorized	Shares Issued and Outstanding	Liquidation Amount		Carrying Value		Original Issuance Price per Share
Series Seed	10,962,327	10,962,327	$	2,577	$	2,553	$	0.2351
Series A	12,855,123	12,855,123	10,000		9,948		0.7779
Series B	20,288,700	20,288,700	24,338		24,241		1.1996
Series C	40,338,867	40,338,867	70,433		69,845		1.7460
Series D	29,078,931	29,078,931	95,476		95,239		3.2833
Series E	31,405,183	31,405,183	152,683		152,539		4.8617
Series F	24,056,282	22,128,982	266,907		266,774		12.0614
Total	168,985,413	167,058,113	$	622,414	$	621,139

During the six months ended July 31, 2020, we issued 31,405,183 shares of Series E Preferred Stock at a price of $4.8617 per share for aggregate proceeds of $152.5 million, net of issuance costs of $0.1 million.

Preferred Stock

In connection with the IPO, we amended and restated our certificate of incorporation, which became effective immediately prior to the closing of our offering, which authorized 50,000,000 shares of undesignated preferred stock, with a par value of $0.0001. As of July 31, 2021, there were 50,000,000 shares of preferred stock authorized and zero shares of preferred stock outstanding.

COMMON STOCKWe have two classes of common stock: Class A common stock and Class B common stock. In connection with the IPO, we amended and restated our certificate of incorporation and authorized 1,500,000,000 shares of Class A common stock and 300,000,000 shares of Class B common stock. The shares of Class A common stock and Class B

common stock are identical, except with respect to voting rights. Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled to twenty votes. Class A and Class B common stock have a par value of $0.0001 per share, and are referred to collectively as our common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors.

Shares of Class B common stock may be converted to Class A common stock at any time at the option of the stockholder. Shares of Class B common stock automatically convert to Class A common stock at the earlier of: (i) the date specified by a vote of the holders of 66 2/3% of the then outstanding shares of Class B common stock, (ii) seven years from the date of our Final Prospectus, or June 29, 2028, (iii) the first date following the completion of our IPO on which the number of shares of outstanding Class B common stock (such calculations shall include shares of Class B common stock subject to outstanding stock options) held by Tomer Weingarten, including certain permitted entities that Mr. Weingarten controls, is less than 25% of the number of shares of outstanding Class B common stock (such calculation shall include shares of Class B common stock subject to outstanding stock options) that Mr. Weingarten originally held as of the date of our Final Prospectus, (iv) the date fixed by our board of directors, following the first date following the completion of our IPO when Mr. Weingarten is no longer providing services to us as an officer, employee, consultant or member of our board of directors, (v) the date fixed by our board of directors following the date on which, if applicable, Mr. Weingarten is terminated for cause, as defined in our restated certificate of incorporation, and (vi) the date that is 12 months after the death or disability, as defined in our restated certificate of incorporation, of Mr. Weingarten.

Our common stock reserved for future issuance on an as-converted basis as of July 31, 2021 and January 31, 2021 were as follows:

	As of July 31,	As of January 31,
	2021	2021
Conversion of redeemable convertible preferred stock	—	168,951,059
Exercise of common stock warrants	—	954,884
Stock options outstanding	48,385,470	37,231,191
RSUs outstanding	346,483	—
Stock options available for future grants	38,570,306	5,642,142
Total shares of common stock reserved	87,302,259	212,779,276