XML 42 R31.htm IDEA: XBRL DOCUMENT

Equity (Tables)

6 Months Ended

Jul. 31, 2023

Schedule of Stock Reserved For Future Issuance

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



	July 31, 2023	January 31, 2023
Class A and Class B common stock

Options issued and outstanding	9,933	12,686
Shares available for issuance under Equity Incentive Plans	25,669	21,483
RSUs and PSUs issued and outstanding	11,376	8,336
Shares reserved for issuance to charitable organizations	1,502	1,636
ESPP	5,567	4,303
Total	54,047	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):



	July 31, 2023	January 31, 2023
Available at beginning of period	21,483	18,248
Awards authorized	7,557	7,673

RSUs and PSUs granted	(4,843)	(6,651)
RSUs and PSUs canceled and forfeited	766	657
Options canceled and forfeited	691	1,496
Options repurchased	15	60
Available at end of period	25,669	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	(2,062)	8.74
Options canceled	(198)	9.76
Options forfeited	(493)	16.96
Balances at July 31, 2023	9,933	$	12.80	6.56	$	372.3

Options vested at July 31, 2023	6,528	$	10.66	6.17	$	254.4
Options vested and expected to vest at July 31, 2023	9,933	$	12.80	6.56	$	372.3

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	4,843	39.91
Vested	(1,037)	49.97

Canceled/forfeited	(677)	52.08
Balances at July 31, 2023	8,147	$	45.90

(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:


	Six Months Ended July 31,
	2023	2022
Risk-free interest rate	4.22% - 5.30%	1.62% - 2.63%
Volatility	40.95% - 51.00%	44.95% - 52.76%
Expected term (in years)	0.50 - 2.00	0.50 - 2.00
Dividend yield	—%	—%

Schedule of Share Based Compensation Expense

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


	Three Months Ended July 31,				Six Months Ended July 31,
	2023		2022		2023		2022
Cost of revenue	$	1,698	$	1,585	$	3,112	$	2,375
Research and development	12,477		11,339		24,179		16,375
Sales and marketing	21,295		14,851		35,059		21,902
General and administrative	10,898		9,972		16,348		14,566
Total stock-based compensation expense (1)	$	46,368	$	37,747	$	78,698	$	55,218

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