Equity (Tables)

9 Months Ended

Oct. 31, 2024

Equity [Abstract]

Schedule of Stock Reserved For Future Issuance

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

	October 31, 2024	January 31, 2024
Class A and Class B common stock
Options issued and outstanding	6,617	8,503
Shares available for issuance under Equity Incentive Plans	29,641	24,868
RSUs and PSUs issued and outstanding	11,820	10,930
Shares reserved for issuance to charitable organizations	1,231	1,404
ESPP	6,722	5,398
Total	56,031	51,103

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, 2024	January 31, 2024
Available at beginning of period	24,868	21,483
Awards authorized	7,878	7,557
RSUs and PSUs granted	(4,743)	(6,258)
RSUs and PSUs canceled and forfeited	1,530	1,292
Options canceled and forfeited	108	777
Options repurchased	—	17
Available at end of period	29,641	24,868

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, 2024	8,503	$	13.03	5.85	$	499.2
Options granted	—	—		—
Options exercised	(1,778)	10.07		—
Options canceled	(11)	13.95		—
Options forfeited	(97)	18.36		—
Balances at October 31, 2024	6,617	$	13.66	5.41	$	265.3
Options vested at October 31, 2024	5,749	$	12.91	5.25	$	234.8
Options vested and expected to vest at October 31, 2024	6,617	$	13.66	5.41	$	265.3

Schedule of Restricted Stock Units Activity

The following table summarizes the Company’s RSU activity:

	Number of Shares (in thousands) (1)	Weighted- Average grant date fair value
Balances at January 31, 2024	7,701	$	47.20
Granted	4,743	53.38
Vested	(2,323)	49.15
Canceled/forfeited	(1,530)	49.28
Balances at October 31, 2024	8,591	$	49.69

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

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,
	2024		2023		2024		2023
Cost of revenue	$	1,993	$	1,648	$	5,924	$	4,760
Sales and marketing	17,012		16,523		54,290		51,582
Research and development	14,384		12,738		42,834		36,917
General and administrative	14,653		10,425		36,215		26,773
Total stock-based compensation expense (1)	$	48,042	$	41,334	$	139,263	$	120,032

(1) The table above includes stock-based compensation of JiHu. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion.