Equity (Tables)

6 Months Ended

Jul. 31, 2021

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:

	July 31, 2021	January 31, 2021
2012 Equity Incentive Plan:
Options outstanding	52,250,088	64,574,656
Restricted stock units outstanding	6,082,830	7,520,474
2020 Equity Incentive Plan:
Shares available for future grants	45,768,644	32,871,367
Restricted stock units outstanding	4,680,406	1,828,083
2020 Employee Stock Purchase Plan:
Shares available for future grants	8,320,369	5,700,000
Total shares of common stock reserved for future issuance	117,102,337	112,494,580

Option Activity Rollforward

Stock option activity and activity regarding shares available for grant under the Plans during the six months ended July 31, 2021 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, 2021	32,871,367	64,574,656	$	7.04	7.7	$	17,138,896
Shares authorized	14,395,880	—
Options exercised	—	(7,081,859)	$	5.82
Options canceled	608,303	(608,303)	$	4.70
RSUs granted	(2,413,881)	—
RSUs forfeited	112,600	—
Balance—April 30, 2021	45,574,269	56,884,494	$	7.21	7.5	$	12,763,483
Options exercised	—	(3,974,786)	$	6.15
Options canceled	659,620	(659,620)	$	8.51
RSUs granted	(584,752)	—
RSUs forfeited	119,507	—
Balance—July 31, 2021	45,768,644	52,250,088	$	7.28	7.3	$	13,503,560
Vested and exercisable as of July 31, 2021		24,701,078	$	5.94	6.8	$	6,416,925

Option Rollforward Schedule

Stock option activity and activity regarding shares available for grant under the Plans during the six months ended July 31, 2021 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, 2021	32,871,367	64,574,656	$	7.04	7.7	$	17,138,896
Shares authorized	14,395,880	—
Options exercised	—	(7,081,859)	$	5.82
Options canceled	608,303	(608,303)	$	4.70
RSUs granted	(2,413,881)	—
RSUs forfeited	112,600	—
Balance—April 30, 2021	45,574,269	56,884,494	$	7.21	7.5	$	12,763,483
Options exercised	—	(3,974,786)	$	6.15
Options canceled	659,620	(659,620)	$	8.51
RSUs granted	(584,752)	—
RSUs forfeited	119,507	—
Balance—July 31, 2021	45,768,644	52,250,088	$	7.28	7.3	$	13,503,560
Vested and exercisable as of July 31, 2021		24,701,078	$	5.94	6.8	$	6,416,925

Schedule of Unvested RSA Rollforward

Restricted Stock Awards—Restricted stock award activity during the six months ended July 31, 2021 is as follows:

	Out of the Plans
	Number of Shares	Weighted-Average Grant Date Fair Value per Share
Unvested Balance—January 31, 2021	741,911	$	2.11
Vested	(90,412)	$	2.10
Unvested Balance—April 30, 2021	651,499	$	2.11
Vested	(90,414)	$	2.10
Unvested Balance—July 31, 2021	561,085	$	2.11

Schedule of Unvested RSU Rollforward

RSU activity during the six months ended July 31, 2021 was as follows:

	Number of Shares	Weighted-Average Grant Date Fair Value per Share
Unvested Balance—January 31, 2021	9,348,557	$	125.06
Granted	2,413,881	$	223.93
Vested	(531,845)	$	40.02
Forfeited	(112,600)	$	134.52
Unvested Balance—April 30, 2021	11,117,993	$	150.50
Granted	584,752	$	244.05
Vested	(820,002)	$	78.84
Forfeited	(119,507)	$	169.75
Unvested Balance—July 31, 2021	10,763,236	$	160.83

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 six months ended July 31, 2020:

	Three Months Ended		Six Months Ended
	July 31, 2020		July 31, 2020
Expected term (in years)	6.0		6.0
Expected volatility	38.3	%	36.9	%
Risk-free interest rate	0.4	%	1.2	%
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 employee stock purchase rights for the offering period under the 2020 ESPP beginning on March 1, 2021, using the Black-Scholes option-pricing model:

	Three and Six Months Ended
	July 31, 2021
Expected term (in years)	0.5
Expected volatility	49.5	%
Risk-free interest rate	0.1	%
Expected dividend yield	—	%

Share-based Compensation Schedule

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

	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
Cost of revenue	$	22,114	$	1,164	$	45,217	$	2,281
Sales and marketing	52,336		5,135		98,389		10,233
Research and development	62,827		5,154		118,646		9,818
General and administrative	26,714		6,751		52,753		16,317
Stock-based compensation, net of amounts capitalized	163,991		18,204		315,005		38,649
Capitalized stock-based compensation	6,938		176		13,237		736
Total stock-based compensation	$	170,929	$	18,380	$	328,242	$	39,385