Stockholders’ Deficit (Tables)

9 Months Ended

Oct. 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	(1,168,397)	5.64			31,720
Cancelled	(31,291)	15.92
Outstanding as of October 31, 2024	9,985,332	$	26.91	8.3	$	143,248
Vested and exercisable as of October 31, 2024	1,921,675	$	5.95	3.4	$	67,848

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	11,325,046	30.97
Vested	(35,887,817)	14.17
Forfeited	(2,344,247)	22.79
Unvested as of October 31, 2024	23,284,652	$	25.51
Vested and not yet released	1,179,941	5.79
Outstanding as of October 31, 2024	24,464,593	$	24.55

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 Months Ended	Nine Months Ended
	October 31, 2024	October 31, 2024
Expected term (in years)	0.5 - 2.0	0.4 - 2.0
Expected volatility	56.5% - 69.1%	56.5% - 71.7%
Risk-free interest rate	3.6% - 4.4%	3.6% - 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 October 31,				Nine Months Ended October 31,
	2024		2023		2024		2023
Cost of revenue
Subscription	$	4,684	$	39	$	45,358	$	43
Maintenance	196		7		2,939		7
Other	1,075		2		13,603		8
Research and development	23,088		191		275,562		994
Sales and marketing	27,468		268		301,611		1,030
General and administrative	36,016		145		188,802		202
Total stock-based compensation expense	$	92,527	$	652	$	827,875	$	2,284