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Equity (Tables)
6 Months Ended
Jul. 31, 2022
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 (in thousands):

July 31, 2022January 31, 2022
2012 Equity Incentive Plan:
Options outstanding37,521 42,043 
Restricted stock units outstanding3,493 4,530 
2020 Equity Incentive Plan:
Options outstanding642 — 
Restricted stock units outstanding10,844 5,082 
Shares available for future grants55,207 45,446 
2020 Employee Stock Purchase Plan:
Shares available for future grants11,148 8,209 
Total shares of common stock reserved for future issuance118,855 105,310 
Option Activity Rollforward
A summary of stock option activity and activity regarding shares available for grant under the Plans during the six months ended July 31, 2022 is as follows:

Shares
Available for Grant
(in thousands)
Number of Options Outstanding
(in thousands)
Weighted-
Average
Exercise Price
Weighted-Average Remaining Contractual Life
(in years)
Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2022
45,446 42,043 $7.53 6.9$11,283,299 
Shares authorized15,619 — $— 
Options granted(642)642 $207.56 
Options exercised— (2,448)$6.18 
Options canceled400 (400)$6.98 
RSUs granted(5,763)— 
Shares withheld related to net share settlement of RSUs292 — 
RSUs forfeited327 — 
Balance—April 30, 2022
55,679 39,837 $10.84 6.7$6,421,133 
Options exercised— (1,494)$5.65 
Options canceled180 (180)$7.32 
RSUs granted(1,374)— 
Shares withheld related to net share settlement of RSUs260 — 
RSUs forfeited462 — 
Balance—July 31, 2022
55,207 38,163 $11.06 6.5$5,336,155 
Vested and exercisable as of July 31, 2022
26,233 $7.39 6.2$3,741,879 
Option Rollforward Schedule
A summary of stock option activity and activity regarding shares available for grant under the Plans during the six months ended July 31, 2022 is as follows:

Shares
Available for Grant
(in thousands)
Number of Options Outstanding
(in thousands)
Weighted-
Average
Exercise Price
Weighted-Average Remaining Contractual Life
(in years)
Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2022
45,446 42,043 $7.53 6.9$11,283,299 
Shares authorized15,619 — $— 
Options granted(642)642 $207.56 
Options exercised— (2,448)$6.18 
Options canceled400 (400)$6.98 
RSUs granted(5,763)— 
Shares withheld related to net share settlement of RSUs292 — 
RSUs forfeited327 — 
Balance—April 30, 2022
55,679 39,837 $10.84 6.7$6,421,133 
Options exercised— (1,494)$5.65 
Options canceled180 (180)$7.32 
RSUs granted(1,374)— 
Shares withheld related to net share settlement of RSUs260 — 
RSUs forfeited462 — 
Balance—July 31, 2022
55,207 38,163 $11.06 6.5$5,336,155 
Vested and exercisable as of July 31, 2022
26,233 $7.39 6.2$3,741,879 
Schedule of Unvested RSU Rollforward
A summary of RSU activity during the six months ended July 31, 2022 is as follows:

Number of Shares
(in thousands)
Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2022
9,612 $180.08 
Granted5,763 $201.89 
Vested(848)$161.90 
Forfeited(327)$202.80 
Unvested Balance—April 30, 2022
14,200 $189.50 
Granted1,374 $145.19 
Vested(775)$156.97 
Forfeited(462)$196.87 
Unvested Balance—July 31, 2022
14,337 $186.77 
Schedule of Unvested RSA Rollforward
A summary of restricted common stock activity during the six months ended July 31, 2022 is as follows:

Outside of the Plans
Number of Shares
(in thousands)
Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2022
380 $2.11 
Granted409 $229.13 
Vested(90)$2.10 
Unvested Balance—April 30, 2022
699 $134.99 
Vested(90)$2.10 
Unvested Balance—July 31, 2022
609 $154.73 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair value of stock options granted to employees during the six months ended July 31, 2022:
Six Months Ended July 31, 2022
Expected term (in years)6.0
Expected volatility50.0 %
Risk-free interest rate1.8 %
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 six months ended July 31, 2022 and 2021:

Three and Six Months Ended
20222021
Expected term (in years)0.50.5
Expected volatility58.9 %49.5 %
Risk-free interest rate0.9 %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,
2022202120222021
Cost of revenue$26,070 $22,114 $48,705 $45,217 
Sales and marketing60,162 52,336 112,631 98,389 
Research and development96,897 62,827 170,490 118,646 
General and administrative26,052 26,714 49,848 52,753 
Stock-based compensation, net of amounts capitalized209,181 163,991 381,674 315,005 
Capitalized stock-based compensation6,715 6,938 13,210 13,237 
Total stock-based compensation$215,896 $170,929 $394,884 $328,242