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Equity (Tables)
6 Months Ended
Jul. 31, 2022
Equity [Abstract]  
Schedule of Stock Reserved For Future Issuance
The Company had shares of common stock reserved for future issuance as follows (in thousands):
July 31, 2022January 31, 2022
Class A and Class B common stock
Options issued and outstanding14,888 17,146 
Shares available for issuance under Equity Incentive Plans21,870 18,248 
RSUs and PSUs issued and outstanding7,972 3,280 
Shares reserved for issuance to charitable organizations1,636 1,636 
2021 ESPP 4,451 3,271 
Total50,817 43,581 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The awards available for grant under the above Plans for the periods presented were as follows (in thousands):
July 31, 2022January 31, 2022
Available at beginning of period
18,248 4,796 
Awards authorized7,673 22,532 
Options granted — (7,936)
RSUs and PSUs granted(5,103)(3,290)
RSUs cancelled and forfeited161 10 
Options cancelled and forfeited849 2,044 
Options repurchased42 92 
Available at end of period
21,870 18,248 
Share-based Payment Arrangement, Option, Activity
The following table summarizes options activity under the Plans, and related information:
Number of Stock Options Outstanding (in thousands)Weighted Average Exercise PriceWeighted Average Remaining YearsAggregate Intrinsic value (in millions)
Balances at January 31, 2022
17,146 $11.83 8.24$894.8 
Options granted— — 
Options exercised(1,409)8.29 
Options cancelled(14)10.02 
Options forfeited(835)13.60 
Balances at July 31, 2022
14,888 $12.06 7.73$675.0 
Options vested at July 31, 2022
6,663 $8.24 7.02$327.6 
Options vested and expected to vest at July 31, 2022
14,888 $12.06 7.73$675.0 
Schedule of Restricted Stock Units Activity
The following table summarizes the Company’s restricted stock units activity (in thousands):
Number of Shares (1)
Weighted-
Average
grant date
fair value
Balances at January 31, 2022
272 $82.11 
Granted4,738 52.28 
Vested(242)59.45 
Canceled/forfeited(161)58.47 
Balances at July 31, 2022
4,607 $53.38 
(1) The table above does not include 3 million RSUs issued to the Company’s founder and the CEO described below.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table summarizes assumptions used in estimating the fair value of the ESPP for the offering period in effect using the Black-Scholes option-pricing model:
Six Months Ended July 31,
2022
Risk-free interest rate
1.62% - 2.63%
Volatility
44.95% - 52.76%
Expected term (in years)
0.5 - 2.0
Dividend yield—%
Share-based Payment Arrangement, Expensed and Capitalized, Amount The Company recognized stock-based compensation expense as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2022202120222021
Cost of revenue$1,585 $239 $2,375 $391 
Research and development11,339 1,541 16,375 2,506 
Sales and marketing14,851 1,687 21,902 3,126 
General and administrative9,972 1,765 14,566 2,640 
Total stock-based compensation expense$37,747 $5,232 $55,218 $8,663