Equity Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity Under Stock Plans

Stock option activity during fiscal year 2024 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, 2023	13,898	$	3.32	7.7	$	169,324
Granted	2,995	$	0.10
Exercised	(5,221)	$	1.29
Forfeited	(592)	$	1.80
Expired	—	$	—
Balance as of January 31, 2024	11,080	$	3.49	7.8	$	216,010
Vested and exercisable as of January 31, 2024	4,990	$	4.59	6.6	$	91,793

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 option pricing model with the following weighted-average assumptions:

	Year Ended January 31,
	2024	2023	2022
Expected term (years)	5.9	5.9	6.1
Expected volatility	65.2%	60.6%	57.2%
Risk-free interest rate	3.6%	3.5%	1.4%
Expected dividend yield	0.0%	0.0%	0.0%

Summary of RSU Activity

RSU activity during fiscal year 2024 was as follows:

	RSUs (in thousands)	Weighted-Average Grant Date Fair Value Per Share
Unvested as of January 31, 2023	36,785	$	22.48
Granted	19,274	$	16.95
Vested	(17,556)	$	20.64
Forfeited	(7,231)	$	23.39
Unvested as of January 31, 2024	31,272	$	19.89

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,
	2024	2023	2022
Expected term (years)	0.5	0.5	0.6
Expected volatility	67.4%	69.0%	55.7%
Risk-free interest rate	5.02%	1.86%	0.05%
Expected dividend yield	0.0%	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,
	2024		2023		2022 (1)
Cost of subscription services revenue	$	14,750	$	11,894	$	12,232
Cost of professional services and other revenue	10,958		11,855		29,849
Sales and marketing	144,863		154,922		237,975
Research and development	117,965		102,546		135,713
General and administrative	83,419		88,623		99,814
Total	$	371,955	$	369,840	$	515,583
(1) Presented net of capitalized stock-based compensation relating to software development costs of $4.5 million.