Stockholders’ Equity and Equity Incentive Plans (Tables)

6 Months Ended

Jul. 31, 2023

A summary of stock option activity under our equity incentive plan and related information is as follows:


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2023	4,800,616	$	8.22	4.9	$	322,929
Exercised	(1,044,922)	$	7.36		$	64,515
Canceled/forfeited/expired	(20,667)	$	92.81
Outstanding as of July 31, 2023	3,735,027	$	8.00	4.4	$	246,235
Vested and expected to vest as of July 31, 2023	3,735,027	$	8.00	4.4	$	246,235
Exercisable as of July 31, 2023	3,734,578	$	7.99	4.4	$	246,235

A summary of restricted stock unit (“RSU”) activity under our equity incentive plan and related information is as follows:


	RSUs
	RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2023	21,868,533	$	109.31
Granted	13,450,561	$	68.93

Vested	(5,535,351)	$	110.16
Canceled/forfeited	(2,946,033)	$	105.91
Unvested as of July 31, 2023	26,837,710	$	89.28

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2023		2022		2023		2022

	(in thousands)
Cost of revenue	$	37,535	$	37,177	$	75,624	$	68,327
Research and development	82,037		69,701		163,503		125,452
Sales and marketing	93,918		110,161		206,511		203,956
General and administrative	48,019		38,476		98,216		67,143
Total stock-based compensation expense	$	261,509	$	255,515	$	543,854	$	464,878
Benefit from income taxes	(48,766)		(54,117)		(98,443)		(97,032)
Total stock-based compensation expense recorded to net income	$	212,743	$	201,398	$	445,411	$	367,846