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Equity (Tables)
 3 Months Ended
Apr. 30, 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):
April 30, 2024January 31, 2024
2012 Equity Incentive Plan:
Options outstanding25,296 26,767 
Restricted stock units outstanding388 789 
2020 Equity Incentive Plan:
Options outstanding1,562 602 
Restricted stock units outstanding22,653 20,168 
Shares available for future grants71,037 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,759 13,764 
Total shares of common stock reserved for future issuance137,695 121,461 
Class of Treasury Stock
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Three Months Ended April 30,
20242023
Number of shares repurchased2,982 1,405 
Weighted-average price per share(1)
$173.14 $136.39 
Aggregate purchase price(1)
$516,329 $191,694 
________________
(1)Includes transaction costs associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity during the three months ended April 30, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2024
27,369 $12.35 5.0$5,023,664 
Granted960 $163.04 
Exercised(1,379)$7.69 
Canceled(92)$3.75 
Balance—April 30, 2024
26,858 $18.01 4.8$3,723,873 
Vested and exercisable as of April 30, 2024
25,584 $10.61 4.7$3,715,804 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the three months ended April 30, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted(1)
5,869 $167.74 
Vested(3,202)$162.47 
Forfeited(533)$168.85 
Performance adjustment(2)
(50)$139.58 
Unvested Balance—April 30, 2024
21,659 $170.44 
________________
(1)Includes 0.8 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.
(2)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the three months ended April 30, 2023, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.
Schedule of Unvested RSA Rollforward
A summary of restricted common stock activity during the three months ended April 30, 2024 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
671 $209.15 
Vested(146)$223.42 
Unvested Balance—April 30, 2024
525 $205.15 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair value of a stock option granted to an employee during the three months ended April 30, 2024:
Three Months Ended April 30, 2024
Expected term (in years)4.8
Expected volatility56.7 %
Risk-free interest rate4.2 %
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 months ended April 30, 2024 and 2023:

Three Months Ended April 30,
20242023
Expected term (in years)0.50.5
Expected volatility49.6 %71.3 %
Risk-free interest rate5.4 %4.7 %
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 April 30, 2024 and January 31, 2024:

April 30, 2024January 31, 2024
Expected volatility57.0 %60.0 %
Risk-free interest rate4.9 %4.0 %
Share-based Compensation Schedule
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended April 30,
20242023
Cost of revenue$32,408 $30,462 
Sales and marketing73,407 72,295 
Research and development194,672 136,417 
General and administrative31,449 25,335 
Stock-based compensation, net of amounts capitalized331,936 264,509 
Capitalized stock-based compensation9,295 11,719 
Total stock-based compensation$341,231 $276,228