Stockholders’ Deficit (Tables)

6 Months Ended

Jul. 31, 2024

Equity [Abstract]

Schedule of Stock Options Roll Forward

A summary of the stock option activity and related information is as follows:

	Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of January 31, 2024	3,185,020	$	6.23	4.2	$	71,347
Granted	8,000,000	32.00
Exercised	(680,400)	5.46			17,800
Cancelled	(18,226)	17.84
Outstanding as of July 31, 2024	10,486,394	$	25.92	8.3	$	118,297
Vested and exercisable as of July 31, 2024	2,402,223	$	5.88	3.4	$	75,249

Schedule of Nonvested Performance-Based Units Activity

Tranche	Target Stock Value	Number of Stock Options Eligible to Vest	Option Valuation Expiration Date
1	$42.88	666,667	Fifth anniversary of the Company's IPO
2	$53.76	666,667
3	$64.64	666,667
4	$75.52	666,667
5	$86.40	666,667	Seventh anniversary of the Company's IPO
6	$96.96	666,667
7	$107.84	666,667
8	$118.72	666,667
9	$161.92	1,333,332
10	$242.88	1,333,332

Schedule of Nonvested Restricted Stock Units Activity

A summary of the RSU activity and related information is as follows:

	Number of RSUs	Weighted-Average Grant Date Fair Value
Outstanding as of January 31, 2024	50,191,670	$	16.09
Granted	9,701,165	30.64
Vested	(32,231,594)	13.84
Forfeited	(1,579,800)	21.81
Unvested as of July 31, 2024	26,081,441	$	23.85
Vested and not yet released	400,811	13.28
Outstanding as of July 31, 2024	26,482,252	$	23.69

Summary of the Assumptions Used in Estimating Fair Value of ESPP

The Company estimated the fair value of ESPP purchase rights using a Black-Scholes option-pricing model with the following assumptions:

	Three and Six Months Ended
	July 31, 2024
Expected term (in years)	0.4 - 1.9
Expected volatility	56.6% - 71.7%
Risk-free interest rate	4.8% - 5.4%
Dividend yield	—

Stock-Based Compensation Expense

Total stock-based compensation expense included in the Company’s condensed consolidated statements of operations was as follows (in thousands):

	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
Cost of revenue
Subscription	$	5,481	$	2	$	40,674	$	4
Maintenance	284		—		2,743		—
Other	1,281		3		12,528		6
Research and development	28,325		636		252,474		803
Sales and marketing	34,255		563		274,143		762
General and administrative	35,392		—		152,786		57
Total stock-based compensation expense	$	105,018	$	1,204	$	735,348	$	1,632