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STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 31, 2026

Schedule of Common Stock Reserved for Future Issuance

Our common stock reserved for future issuance on an as-converted basis as of January 31, 2026 and 2025 were as follows:


	As of January 31,
	2026	2025
Stock options outstanding	9,443,196	13,164,743
RSUs and PSUs outstanding	34,438,058	28,016,619
ESPP reserved for future issuance	12,763,633	11,050,459
2021 Plan available for future grants	39,736,855	41,803,691
Total shares of common stock reserved	96,381,742	94,035,512

Schedule of Components of Stock-based Compensation Expense

The components of stock-based compensation expense recognized in the consolidated statements of operations consisted of the following (in thousands):


	Year Ended January 31,
	2026		2025		2024
Cost of revenue	$	21,584	$	22,105	$	17,187
Research and development	94,542		83,957		61,055
Sales and marketing	93,640		80,496		55,798
General and administrative	88,399		80,973		83,890
Restructuring	(578)		—		(1,060)
Total	$	297,587	$	267,531	$	216,870

Schedule of Restricted Stock Shares Activity

A summary of our RSU activity is as follows:


	Number of RSUs	Weighted-Average Grant Date Fair Value
Outstanding as of January 31, 2025	27,357,828	$	21.60
Granted	24,640,475	17.82
Released	(11,732,668)	21.75
Forfeited	(8,611,950)	20.18
Outstanding as of January 31, 2026	31,653,685	$	18.99

Schedule of PSU Activity

A summary of our PSU activity is as follows:


	Number of PSUs	Weighted-Average Grant Date Fair Value
Outstanding as of January 31, 2025	233,680	$	22.27
Granted	1,639,900	17.08
Released	(224,323)	22.26
Forfeited or canceled	(402,456)	17.26
Outstanding as of January 31, 2026	1,246,801	$	17.06

Schedule of Stock Option Activity

A summary of our stock option activity is as follows:


	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of January 31, 2025	13,164,743	$	6.31	5.02	$	232,240
Assumed options from Prompt acquisition	415,109	1.13
Exercised	(4,085,234)	4.42
Forfeited	(51,422)	2.26
Outstanding as of January 31, 2026	9,443,196	$	6.92	4.83	$	67,255,182
Expected to vest as of January 31, 2026	9,443,196	$	6.92	4.83	$	67,255,182
Vested and exercisable as of January 31, 2026	7,580,479	$	6.66	4.59	$	56,053,935

Schedule of Restricted Common Stock

Restricted common stock is included in issued and outstanding shares as they are legally issued and outstanding, but are not deemed outstanding for accounting purposes until the shares vest. A summary of our restricted common stock activity is as follows:


	Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding as of January 31, 2025	1,497,212	$	27.49
Granted	3,108,988	19.10
Vested	(1,122,065)	25.65
Outstanding as of January 31, 2026	3,484,135	$	20.60

Schedule of Assumptions Used in Estimating Fair Value of Employee Stock Purchase Rights

The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights using the Black-Scholes option pricing model for the periods presented:


	Year Ended January 31,
	2026		2025
Expected term (in years)	0.5		0.5
Expected volatility	46% - 48%		48% - 55%
Risk-free interest rate	3.6% - 4.3%		4.2% - 5.3%
Dividend yield	—	%	—	%