XML 41 R31.htm IDEA: XBRL DOCUMENT

Equity (Tables)

9 Months Ended

Oct. 31, 2023

Schedule of Stock Reserved For Future Issuance

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



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

Options issued and outstanding	9,454	12,686
Shares available for issuance under Equity Incentive Plans	25,059	21,483
RSUs and PSUs issued and outstanding	11,432	8,336
Shares reserved for issuance to charitable organizations	1,449	1,636
ESPP	5,567	4,303
Total	52,961	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):



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

RSUs and PSUs granted	(5,740)	(6,651)
RSUs and PSUs canceled and forfeited	982	657
Options canceled and forfeited	760	1,496
Options repurchased	17	60
Available at end of period	25,059	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	(2,472)	9.22
Options canceled	(206)	11.23
Options forfeited	(554)	17.03
Balances at October 31, 2023	9,454	$	12.82	6.07	$	293.4

Options vested at October 31, 2023	6,733	$	10.96	5.71	$	217.6
Options vested and expected to vest at October 31, 2023	9,454	$	12.82	6.07	$	293.4

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	5,740	41.77
Vested	(1,662)	48.68

Canceled/forfeited	(893)	51.02
Balances at October 31, 2023	8,203	$	46.43

(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:


	Nine Months Ended October 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 October 31,				Nine Months Ended October 31,
	2023		2022		2023		2022
Cost of revenue	$	1,648	$	1,248	$	4,760	$	3,623
Research and development	12,738		10,030		36,917		26,405
Sales and marketing	16,523		12,905		51,582		34,807
General and administrative	10,425		9,525		26,773		24,091
Total stock-based compensation expense (1)	$	41,334	$	33,708	$	120,032	$	88,926

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