Equity (Tables)

3 Months Ended

Apr. 30, 2023

Equity [Abstract]

Schedule of Stock Reserved For Future Issuance

The Company had shares of common stock reserved for future issuance as follows (in thousands):

	April 30, 2023	January 31, 2023
Class A and Class B common stock
Options issued and outstanding	11,149	12,686
Shares available for issuance under Equity Incentive Plans	25,914	21,483
RSUs and PSUs issued and outstanding	11,531	8,336
Shares reserved for issuance to charitable organizations	1,555	1,636
ESPP	5,814	4,303
Total	55,963	48,444

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):

	April 30, 2023	January 31, 2023
Available at beginning of period	21,483	18,248
Awards authorized	7,557	7,673
RSUs and PSUs granted	(3,944)	(6,651)
RSUs and PSUs canceled and forfeited	390	657
Options canceled and forfeited	415	1,496
Options repurchased	13	60
Available at end of period	25,914	21,483

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 Price		Weighted Average Remaining Years	Aggregate Intrinsic value (in millions)
Balances at January 31, 2023	12,686	$	12.30	7.00	$	470.8
Options granted	—	—
Options exercised	(1,122)	6.87
Options canceled	—	—
Options forfeited	(415)	17.01
Balances at April 30, 2023	11,149	$	12.67	7.02	$	197.3
Options vested at April 30, 2023	6,808	$	10.36	6.56	$	136.1
Options vested and expected to vest at April 30, 2023	11,149	$	12.67	7.02	$	197.3

Schedule of Restricted Stock Units Activity

The following table summarizes the Company’s RSU activity (in thousands):

	Number of Shares (1)	Weighted- Average grant date fair value
Balances at January 31, 2023	5,018	$	53.33
Granted	3,944	37.44
Vested	(359)	54.88
Canceled/forfeited	(390)	53.62
Balances at April 30, 2023	8,213	$	45.62

(1) The table above does not include 3 million RSUs issued to the Company’s founder and the Chief Executive Officer (“CEO”) described below.

Schedule of Estimating the Fair Value of the ESPP

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:

	Three Months Ended April 30,
	2023	2022
Risk-free interest rate	1.62% - 4.55%	0.07% - 0.47%
Volatility	44.95% - 55.19%	38.47% -46.61%
Expected term (in years)	0.50 - 2.00	0.57 -2.07
Dividend yield	—%	—%

Schedule of Share Based Compensation Expense

The Company recognized stock-based compensation expense as follows (in thousands):

	Three Months Ended April 30,
	2023		2022
Cost of revenue	$	1,414	$	790
Research and development	11,702		5,036
Sales and marketing	13,764		7,051
General and administrative	5,450		4,594
Total stock-based compensation expense (1)	$	32,330	$	17,471

(1) The table above includes stock-based compensation of JiHu. Refer to “Note 12. Joint Venture and Equity Method Investment” for further discussion.