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Stockholders’ Equity and Equity Incentive Plans
 6 Months Ended
Jul. 31, 2026
Equity [Abstract]  
Stockholders’ Equity and Equity Incentive Plans Stockholders’ Equity and Equity Incentive Plans
Common Stock
Our amended and restated certificate of incorporation authorizes the issuance of 2,000,000,000 shares of Class A common stock, $0.001 par value per share, and 300,000,000 shares of Class B common stock, $0.001 par value per share. Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted.
Stock Repurchase Program
In May 2026, our Board of Directors authorized the repurchase of an additional $1.0 billion of our outstanding Class A common stock, under our existing repurchase program, bringing the total amount authorized since February 2024 to $4.7 billion. Repurchases of our Class A common stock may be effected from time to time, either on the open market (including preset trading plans), in privately negotiated transactions, and other transactions in accordance with applicable securities laws. The repurchase program, which has no expiration date, does not obligate us to repurchase any specific number of shares and may be discontinued at any time.
During the three and six months ended July 31, 2026, we repurchased and subsequently retired 3,740,213 and 7,909,421 shares of our Class A common stock, respectively, for an aggregate amount of $351.9 million and $713.5 million, respectively. As of July 31, 2026, $1.3 billion of the repurchase authorization remained available.
Equity Incentive Plans
We have two equity incentive plans: the 2011 Global Share Plan (“2011 Plan”) and the 2019 Equity Incentive Plan (“2019 Plan”). All shares that remain available for future grants are under the 2019 Plan.
Stock Options
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, 20261,542,753 $11.81 2.2$124,080 
Exercised(347,510) $4.47 $28,751 
Canceled/forfeited/expired— $— 
Outstanding and exercisable as of July 31, 2026
1,195,243  $13.94 2.0$98,159 
As of July 31, 2026, all options have vested and there is no unrecognized stock-based compensation expense remaining.
Restricted Stock Units
A summary of RSU activity under our equity incentive plan and related information is as follows:
RSUs
RSUsWeighted-
Average
Grant Date Fair Value Per Share
Unvested as of January 31, 202620,106,305 $75.51 
Granted5,970,091 $84.20 
Vested(4,995,895)$75.40 
Canceled/forfeited(1,313,209)$76.74 
Unvested as of July 31, 202619,767,292 $78.08 
As of July 31, 2026, unrecognized stock-based compensation expense related to RSUs was $1,440.2 million, which is expected to be recognized over a weighted-average period of 2.9 years.
2019 Employee Stock Purchase Plan
In April 2019, we adopted the 2019 Employee Stock Purchase Plan (“ESPP”). As of July 31, 2026, unrecognized stock-based compensation expense related to the ESPP was $54.3 million, which is expected to be recognized over a weighted-average period of 1.8 years.
Stock-Based Compensation
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,
2026202520262025
(in thousands)
Cost of revenue$20,272 $24,222 $41,235 $51,649 
Research and development74,566 70,476 145,592 143,412 
Sales and marketing57,561 63,094 115,600 131,527 
General and administrative27,385 30,907 56,310 63,680 
Total stock-based compensation expense$179,784 $188,699 $358,737 $390,268 
Benefit from income taxes(32,877)(35,067)(66,574)(73,228)
Total stock-based compensation expense recorded to net income$146,907 $153,632 $292,163 $317,040