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Stockholders’ Deficit (Tables)
 12 Months Ended
Jan. 31, 2025
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock
The Company has reserved shares of its common stock for future issuance as follows (in thousands):
January 31,
20252024
Conversion of Preferred Stock— 74,183 
Conversion of Founders Stock— 5,400 
2014 Stock Option and Grant Plan:
Outstanding stock options9,570 3,185 
Outstanding restricted stock units18,039 50,192 
Shares available for further issuance under the 2014 Plan— 6,255 
2024 Equity Incentive Plan:
Outstanding restricted stock units4,217 — 
Shares available for future issuance under the 2024 Plan57,591 — 
2024 Employee Stock Purchase Plan4,201 — 
Total shares of common stock reserved93,618 139,215 
Schedule of Stock Options Roll Forward
A summary of the stock option activity and related information is as follows:
Number of OptionsWeighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual
Term (years)		Aggregate
Intrinsic
Value (in
thousands)
Outstanding as of January 31, 20224,693,880 $5.22 5.9$68,795 
Granted178,924 20.87 
Exercised(669,122)5.70 9,973 
Cancelled(105,648)8.18 
Outstanding as of January 31, 20234,098,034 $5.74 5.0$66,017 
Granted— — 
Exercised(884,012)3.83 17,771 
Cancelled(29,002)10.40 
Outstanding as of January 31, 20243,185,020 $6.23 4.2$71,347 
Granted8,000,000 32.00 
Exercised(1,548,712)5.50 54,160 
Cancelled(66,174)18.94 
Outstanding as of January 31, 20259,570,134 $27.80 8.2$435,133 
Vested and exercisable as of January 31, 20252,352,521 $15.02 5.1$137,044 
Summary of the Assumptions Used in Estimating Fair Value of ESPP
The assumptions used in the Black-Scholes option pricing model were as follows:
Year Ended January 31, 2023
Expected term (in years)
6.0 - 6.0
Expected volatility
58.2% - 83.2%
Risk-free interest rate
2.7% - 3.8%
Dividend yield—
Schedule of Nonvested Performance-Based Units Activity
TrancheTarget Stock ValueNumber of Stock Options Eligible to VestOption Valuation Expiration Date
1$42.88666,667Fifth anniversary of the Company's IPO
2$53.76666,667
3$64.64666,667
4$75.52666,667
5$86.40666,667Seventh anniversary of the Company's IPO
6$96.96666,667
7$107.84666,667
8$118.72666,667
9$161.921,333,332
10$242.881,333,332
Schedule of Nonvested Restricted Stock Units Activity
A summary of the RSU activity and related information is as follows:
Number of RSUsWeighted-Average
Grant Date Fair Value
Outstanding as of January 31, 202231,209,565 $11.31 
Granted11,195,973 19.92 
Vested(54,010)8.48 
Forfeited(2,641,160)14.75 
Outstanding as of January 31, 202339,710,368 13.51 
Granted13,443,534 23.78 
Vested(18,000)28.66 
Forfeited(2,962,232)17.17 
Unvested as of January 31, 202450,173,670 16.09 
Vested and not yet released18,000 28.66 
Outstanding as of January 31, 202450,191,670 16.09 
Granted13,744,702 37.99 
Vested(38,940,299)15.22 
Forfeited(2,780,324)23.73 
Unvested as of January 31, 202522,215,749 31.30 
Vested and not yet released40,625 11.35 
Outstanding as of January 31, 202522,256,374 $31.26 
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:
Year Ended January 31, 2025
Expected term (in years)
0.4 - 2.0
Expected volatility
56.5% - 71.7%
Risk-free interest rate
3.6% - 5.4%
Dividend yield—
Stock-Based Compensation Expense
Total stock-based compensation expense included in the Company’s consolidated statements of operations was as follows (in thousands):
Year Ended January 31,
202520242023
Cost of revenue
Subscription$49,514 $45 $53 
Maintenance3,076 7 34 
Other14,451 11 140 
Research and development297,051 3,590 3,044 
Sales and marketing330,443 1,313 2,399 
General and administrative219,378 749 1,284 
Total stock-based compensation expense$913,913 $5,715 $6,954