Equity (Tables)

9 Months Ended

Oct. 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:

	October 31, 2021	January 31, 2021
2012 Equity Incentive Plan:
Options outstanding	47,781,688	64,574,656
Restricted stock units outstanding	5,034,800	7,520,474
2020 Equity Incentive Plan:
Shares available for future grants	45,681,389	32,871,367
Restricted stock units outstanding	5,081,153	1,828,083
2020 Employee Stock Purchase Plan:
Shares available for future grants	8,208,724	5,700,000
Total shares of common stock reserved for future issuance	111,787,754	112,494,580

Option Activity Rollforward

Stock option activity and activity regarding shares available for grant under the Plans during the nine months ended October 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
Options exercised	—	(4,222,037)	$	5.85
Options canceled	246,363	(246,363)	$	8.56
RSUs granted	(561,159)	—
RSUs forfeited	227,541	—
Balance—October 31, 2021	45,681,389	47,781,688	$	7.40	7.1	$	16,553,557
Vested and exercisable as of October 31, 2021		24,561,457	$	6.24	6.7	$	8,537,609

Option Rollforward Schedule

Stock option activity and activity regarding shares available for grant under the Plans during the nine months ended October 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
Options exercised	—	(4,222,037)	$	5.85
Options canceled	246,363	(246,363)	$	8.56
RSUs granted	(561,159)	—
RSUs forfeited	227,541	—
Balance—October 31, 2021	45,681,389	47,781,688	$	7.40	7.1	$	16,553,557
Vested and exercisable as of October 31, 2021		24,561,457	$	6.24	6.7	$	8,537,609

Schedule of Unvested RSA Rollforward

Restricted Stock Awards—Restricted stock award activity during the nine months ended October 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
Vested	(90,412)	$	2.10
Unvested Balance—October 31, 2021	470,673	$	2.11

Schedule of Unvested RSU Rollforward

RSU activity during the nine months ended October 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
Granted	561,159	$	305.15
Vested	(980,901)	$	99.49
Forfeited	(227,541)	$	180.53
Unvested Balance—October 31, 2021	10,115,953	$	174.34

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 during the three and nine months ended October 31, 2020:

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

Valuation Assumptions Other Than Stock Options Schedule

The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the three and nine months ended October 31, 2021 and 2020:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020
Expected term (in years)	0.5		0.5		0.5		0.5
Expected volatility	37.3	%	60.1	%	37.3% - 49.5%		60.1	%
Risk-free interest rate	0.1	%	0.1	%	0.1	%	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 October 31,				Nine Months Ended October 31,
	2021		2020		2021		2020
Cost of revenue	$	21,163	$	13,226	$	66,380	$	15,507
Sales and marketing	43,074		39,481		141,463		49,714
Research and development	56,142		39,368		174,788		49,186
General and administrative	24,008		27,066		76,761		43,383
Stock-based compensation, net of amounts capitalized	144,387		119,141		459,392		157,790
Capitalized stock-based compensation	6,085		284		19,322		1,020
Total stock-based compensation	$	150,472	$	119,425	$	478,714	$	158,810