Equity (Tables)

9 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule Of Shares Reserved For Future Issuance

The Company had reserved shares of common stock for future issuance as follows:

	October 31, 2020	January 31, 2020
Redeemable convertible preferred stock	—	169,921,272
Common stock warrants	—	32,336
2012 Equity Incentive Plan:
Options outstanding	69,634,367	80,903,200
RSUs outstanding	7,616,097	—
Shares available for future grants	—	412,401
2020 Equity Incentive Plan:
Shares available for future grants	34,342,175	—
2020 ESPP Plan:	5,700,000	—
Total shares of common stock reserved for future issuance	117,292,639	251,269,209

Option Activity Rollforward

Stock option activity and activity regarding shares available for grant under the 2012 Plan and the 2020 Plan during the nine months ended October 31, 2020 is as follows:

	Shares Available for Grant	Number of Options Outstanding	Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Balance—January 31, 2020	412,401	80,903,200	$	6.21	8.6	$	1,546,313
Shares authorized	20,870,187	—
Options granted	(610,936)	610,936	$	26.64
Options exercised	—	(4,945,720)	$	2.23
Options forfeited	1,354,238	(1,354,238)	$	5.47
Repurchase of unvested common stock	40,000	—
RSUs granted	(2,295,492)	—
RSUs forfeited	10,000	—
Balance—April 30, 2020	19,780,398	75,214,178	$	6.65	8.5	$	2,416,057
Options granted	(130,025)	130,025	$	34.49
Options exercised	—	(1,898,922)	$	5.19
Options forfeited	1,216,461	(1,216,461)	$	8.68
RSUs granted	(2,587,289)	—
RSUs forfeited	19,550	—
Balance—July 31, 2020	18,299,095	72,228,820	$	6.70	8.2	$	6,227,842
Shares authorized	34,100,000	—
Shares ceased to be available for issuance under the 2012 Plan	(15,696,031)	—
Options granted	(136,000)	136,000	$	71.91
Options exercised	—	(2,186,819)	$	4.74
Options forfeited	543,634	(543,634)	$	7.52
RSUs granted	(2,841,823)	—
RSUs forfeited	73,300	—
Balance—October 31, 2020	34,342,175	69,634,367	$	6.88	8.0	$	16,930,996
Vested and exercisable as of October 31, 2020		26,842,544	$	4.86	7.4	$	6,580,709

Option Rollforward Schedule

Stock option activity and activity regarding shares available for grant under the 2012 Plan and the 2020 Plan during the nine months ended October 31, 2020 is as follows:

	Shares Available for Grant	Number of Options Outstanding	Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Balance—January 31, 2020	412,401	80,903,200	$	6.21	8.6	$	1,546,313
Shares authorized	20,870,187	—
Options granted	(610,936)	610,936	$	26.64
Options exercised	—	(4,945,720)	$	2.23
Options forfeited	1,354,238	(1,354,238)	$	5.47
Repurchase of unvested common stock	40,000	—
RSUs granted	(2,295,492)	—
RSUs forfeited	10,000	—
Balance—April 30, 2020	19,780,398	75,214,178	$	6.65	8.5	$	2,416,057
Options granted	(130,025)	130,025	$	34.49
Options exercised	—	(1,898,922)	$	5.19
Options forfeited	1,216,461	(1,216,461)	$	8.68
RSUs granted	(2,587,289)	—
RSUs forfeited	19,550	—
Balance—July 31, 2020	18,299,095	72,228,820	$	6.70	8.2	$	6,227,842
Shares authorized	34,100,000	—
Shares ceased to be available for issuance under the 2012 Plan	(15,696,031)	—
Options granted	(136,000)	136,000	$	71.91
Options exercised	—	(2,186,819)	$	4.74
Options forfeited	543,634	(543,634)	$	7.52
RSUs granted	(2,841,823)	—
RSUs forfeited	73,300	—
Balance—October 31, 2020	34,342,175	69,634,367	$	6.88	8.0	$	16,930,996
Vested and exercisable as of October 31, 2020		26,842,544	$	4.86	7.4	$	6,580,709

Schedule of Unvested RSA Rollforward

Restricted Stock Awards—Restricted stock award activity during the nine months ended October 31, 2020 is as follows:

	Under the Plan			Out of the Plan
	Number of Shares	Weighted-Average Grant Date Fair Value per Share		Number of Shares	Weighted-Average Grant Date Fair Value per Share
Unvested Balance—January 31, 2020	16,700	$	8.58	1,603,562	$	2.06
Vested	(16,700)	$	8.58	(27,912)	$	2.38
Unvested Balance—April 30, 2020	—	$	—	1,575,650	$	2.06
Vested	—	$	—	(652,914)	$	1.99
Unvested Balance—July 31, 2020	—	$	—	922,736	$	2.11
Vested	—	$	—	(90,412)	$	2.10
Unvested Balance—October 31, 2020	—	$	—	832,324	$	2.11

Schedule of Unvested RSU Rollforward

RSU activity during the nine months ended October 31, 2020 was as follows:

	Number of Shares	Weighted-Average Grant Date Fair Value per Share
Unvested Balance—January 31, 2020	—	$	—
Granted	2,295,492	$	38.77
Forfeited	(10,000)	$	38.77
Unvested Balance—April 30, 2020	2,285,492	$	38.77
Granted	2,587,289	$	67.02
Forfeited	(19,550)	$	38.77
Unvested Balance—July 31, 2020	4,853,231	$	53.83
Granted	2,841,823	$	113.53
Vested	(5,657)	$	45.95
Forfeited	(73,300)	$	75.29
Unvested Balance—October 31, 2020	7,616,097	$	75.91

Valuation Assumptions Schedule

The following table summarizes the weighted-average assumptions used in estimating the fair value of stock options granted to employees and non-employees for the three and nine months ended October 31, 2020 and 2019:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2020		2019		2020		2019
Expected term (in years)	5.9		6.1		6.0		6.0
Expected volatility	38.4	%	36.9	%	37.2	%	37.0	%
Risk-free interest rate	0.4	%	1.4	%	1.0	%	2.0	%
Expected dividend yield	—	%	—	%	—	%	—	%

Valuation Assumptions Other Than Stock Options Schedule

The following table summarizes the weighted-average assumptions used in estimating the fair value of ESPP for the initial offering period using the Black-Scholes option-pricing model:

	Three and Nine Months Ended
	October 31, 2020
Expected term (in years)	0.5
Expected volatility	60.1	%
Risk-free interest rate	0.1	%
Expected dividend yield	—	%

Share-based Compensation Schedule

Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):

	Three Months Ended October 31,				Nine Months Ended October 31,
	2020		2019		2020		2019
Cost of revenue	$	13,226	$	832	$	15,507	$	2,682
Sales and marketing	39,481		4,802		49,714		15,428
Research and development	39,368		4,411		49,186		10,822
General and administrative	27,066		12,913		43,383		28,493
Stock-based compensation, net of amounts capitalized	119,141		22,958		157,790		57,425
Capitalized stock-based compensation	284		334		1,020		786
Total stock-based compensation	$	119,425	$	23,292	$	158,810	$	58,211