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Equity (Tables)
 12 Months Ended
Jan. 31, 2024
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):

January 31, 2024January 31, 2023
2012 Equity Incentive Plan:
Options outstanding26,767 35,212 
Restricted stock units outstanding789 2,521 
2020 Equity Incentive Plan:
Options outstanding602 642 
Restricted stock units outstanding20,168 13,039 
Shares available for future grants59,371 52,989 
2020 Employee Stock Purchase Plan:
Shares available for future grants13,764 11,046 
Total shares of common stock reserved for future issuance121,461 115,449 
Share Repurchase Activity
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Fiscal Year Ended January 31, 2024
Number of shares repurchased4,012 
Weighted-average price per share(1)
$147.50 
Aggregate purchase price(1)
$591,732 
________________
(1)Includes transaction costs associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity and activity regarding shares available for grant under the Plans during the fiscal years ended January 31, 2024, 2023, and 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, 2021
32,87064,575$7.04 7.7$17,138,896 
Shares authorized14,397—
Options exercised—(20,903)$6.08 
Options canceled1,629(1,629)$6.80 
RSUs granted(4,026)—
RSUs forfeited576—
Balance—January 31, 2022
45,44642,043$7.53 6.9$11,283,299 
Shares authorized15,619—
Options granted(642)642$207.56 
Options exercised—(6,118)$6.50 
Options canceled713(713)$8.02 
RSUs granted(10,788)—
Shares withheld related to net share settlement of RSUs1,149—
RSUs forfeited1,492—
Balance—January 31, 2023
52,98935,854$11.27 5.9$5,237,549 
Shares authorized16,165—
Options exercised—(8,357)$6.84 
Options canceled128(128)$70.59 
RSUs granted(14,088)—
Shares withheld related to net share settlement of RSUs2,296—
RSUs forfeited1,881—
Balance—January 31, 2024
59,37127,369$12.35 5.0$5,023,664 
Vested and exercisable as of January 31, 2024
26,774$10.00 5.0$4,973,515 
Option Rollforward Schedule
A summary of stock option activity and activity regarding shares available for grant under the Plans during the fiscal years ended January 31, 2024, 2023, and 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, 2021
32,87064,575$7.04 7.7$17,138,896 
Shares authorized14,397—
Options exercised—(20,903)$6.08 
Options canceled1,629(1,629)$6.80 
RSUs granted(4,026)—
RSUs forfeited576—
Balance—January 31, 2022
45,44642,043$7.53 6.9$11,283,299 
Shares authorized15,619—
Options granted(642)642$207.56 
Options exercised—(6,118)$6.50 
Options canceled713(713)$8.02 
RSUs granted(10,788)—
Shares withheld related to net share settlement of RSUs1,149—
RSUs forfeited1,492—
Balance—January 31, 2023
52,98935,854$11.27 5.9$5,237,549 
Shares authorized16,165—
Options exercised—(8,357)$6.84 
Options canceled128(128)$70.59 
RSUs granted(14,088)—
Shares withheld related to net share settlement of RSUs2,296—
RSUs forfeited1,881—
Balance—January 31, 2024
59,37127,369$12.35 5.0$5,023,664 
Vested and exercisable as of January 31, 2024
26,774$10.00 5.0$4,973,515 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the fiscal years ended January 31, 2024, 2023, and 2022 is as follows:

Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
Unvested Balance—January 31, 2021
9,348 $125.06 
Granted4,026 $250.46 
Vested(3,186)$109.44 
Forfeited(576)$169.74 
Unvested Balance—January 31, 2022
9,612 $180.08 
Granted10,788 $180.65 
Vested(3,348)$165.30 
Forfeited(1,492)$206.02 
Unvested Balance—January 31, 2023
15,560 $181.17 
Granted(1)
12,706 $158.28 
Vested(6,810)$172.38 
Forfeited(1,881)$176.44 
Unvested Balance—January 31, 2024
19,575 $169.82 
________________
(1)Includes 0.5 million Leadership PRSUs granted at 120% of the target number of these awards, which represents the maximum number of Leadership PRSUs that may be eligible to vest with respect to these awards over their full term.
A summary of liability-classified RSUs activity during the fiscal year ended January 31, 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2023
— 
Granted(1)
1,382 
Unvested Balance—January 31, 2024
1,382 
________________
(1)Represents the maximum number of Acquisition PRSUs that may be eligible to vest with respect to these awards over their full term.
Schedule of Unvested RSA Rollforward A summary of restricted common stock activity outside of the Plans during the fiscal years ended January 31, 2024, 2023, and 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, 2021
742 $2.11 
Vested(362)$2.10 
Unvested Balance—January 31, 2022
380 $2.11 
Granted409 $229.13 
Vested(361)$2.10 
Unvested Balance—January 31, 2023
428 $219.26 
Granted385 $194.28 
Vested(142)$199.28 
Unvested Balance—January 31, 2024
671 $209.15 
Schedule of Valuation Assumptions The following table summarizes the assumptions used in estimating the grant-date fair value of stock options granted to employees during the fiscal year ended January 31, 2023:
Fiscal Year Ended January 31, 2023
Expected term (in years)6.0
Expected volatility50.0 %
Risk-free interest rate1.8 %
Expected dividend yield— %
Schedule of Valuation Assumptions Other than Stock Options
The following table summarizes the assumptions used in estimating the fair values of employee stock purchase rights granted under the 2020 ESPP during the fiscal years ended January 31, 2024, 2023, and 2022:

Fiscal Year Ended January 31,
202420232022
Expected term (in years)0.50.50.5
Expected volatility
48.4% - 71.3%
58.9% - 74.8%
37.3% - 49.5%
Risk-free interest rate
4.7% - 5.5%
0.9% - 3.8%
0.1%
Expected dividend yield— %— %— %
Schedule of Valuation Assumptions, Liability-Classified Performance Shares
The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of January 31, 2024:

January 31, 2024
Expected volatility60.0 %
Risk-free interest rate4.0 %
Share-based Compensation Schedule
Stock-based compensation included in the consolidated statements of operations was as follows (in thousands):

Fiscal Year Ended January 31,
202420232022
Cost of revenue$123,363 $106,302 $87,336 
Sales and marketing299,657 246,811 185,970 
Research and development644,928 407,524 232,867 
General and administrative100,067 100,896 98,922 
Stock-based compensation, net of amounts capitalized1,168,015 861,533 605,095 
Capitalized stock-based compensation48,830 29,417 24,174 
Total stock-based compensation$1,216,845 $890,950 $629,269