Equity Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity Under Stock Plans

Stock option activity during fiscal year 2023 was as follows:

	Options Outstanding
	Stock Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)
Balance as of January 31, 2022	14,544	$	1.64	7.6	$	507,419
Granted	5,027	$	6.61
Exercised	(4,770)	$	1.73
Forfeited	(903)	$	3.01
Expired	—	$	—
Balance as of January 31, 2023	13,898	$	3.32	7.7	$	169,324
Vested and exercisable as of January 31, 2023	6,740	$	1.87	6.3	$	90,911

Schedule of Fair Value Assumptions for Stock Options

Fair value of each stock option grant was estimated on the date of grant using the Black-Scholes pricing model with the following assumptions:

	2023	2022	2021
	Weighted-Average	Weighted-Average	Range
Expected term (years)	5.9	6.1	5.0 – 6.1
Expected volatility	60.6%	57.2%	60.0% – 61.1%
Risk-free interest rate	3.5%	1.4%	0.2% – 0.7%
Expected dividend yield	0.0%	0.0%	0.0%

Summary of RSU Activity

RSU activity during fiscal year 2023 was as follows:

	RSUs (in thousands)	Weighted-Average Grant Date Fair Value Per Share
Unvested as of January 31, 2022	27,515	$	35.35
Granted	30,039	$	15.85
Vested (1)	(13,786)	$	27.21
Forfeited	(6,983)	$	34.25
Unvested as of January 31, 2023	36,785	$	22.48
(1) Class A common stock has not been issued in connection with 142 vested RSUs because such RSUs were unsettled as of January 31, 2023.

Schedule of Fair Value Assumptions for ESPP Shares

The fair value of ESPP awards was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

	Year Ended January 31,	Year Ended January 31,
	2023	2022
Expected term (years)	0.5	0.6
Expected volatility	69.0%	55.7%
Risk-free interest rate	1.86%	0.05%
Expected dividend yield	0.0%	0.0%

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense is classified in the consolidated statements of operations as follows (in thousands):

	Year Ended January 31,
	2023		2022		2021
Cost of subscription services revenue	$	11,894	$	12,232	$	513
Cost of professional services and other revenue	11,855		29,849		1,860
Sales and marketing	154,922		237,975		16,356
Research and development	102,546		135,713		11,435
General and administrative	88,623		99,814		56,003
Total	$	369,840	$	515,583	$	86,167