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Equity (Tables)
 12 Months Ended
Feb. 01, 2025
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock for Future Issuance
The Company had reserved shares of common stock for future issuance as of February 1, 2025 and February 3, 2024, as follows:
As of
February 1, 2025February 3, 2024
2015 Equity Incentive Plan:
Options outstanding5,632,520 6,165,885 
RSUs outstanding790,123 6,654,559 
2021 Equity Incentive Plan:
RSUs outstanding21,520,741 28,716,715 
Shares available for future grants90,518,967 68,321,018 
2021 Employee Stock Purchase Plan:
Shares available for future issuance21,284,493 16,875,966 
Total shares of common stock reserved for future issuance139,746,844 126,734,143 
Schedule of Stock Options Activity
Options—A summary of the stock options activity under the 2015 Plan during the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023 is presented below (the number of options represents shares of common stock exercisable in respect thereof):
Number of SharesWeighted-Average
Exercise Price		Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate Intrinsic Value (1)
(In Thousands)
Balance as of January 29, 20228,628,071 $3.77 6.9$111,170 
Granted— $— 
Exercised(1,694,436)$0.35 
Forfeited, canceled, or expired(6,095)$1.08 
Balance as of January 28, 20236,927,540 $4.61 6.4$63,351 
Granted— $— 
Exercised(761,655)$0.88 
Forfeited, canceled, or expired— $— 
Balance as of February 3, 20246,165,885 $5.07 5.7$169,153 
Granted— $— 
Exercised(533,365)$1.61 
Forfeited, canceled, or expired— $— 
Balance as of February 1, 20255,632,520 $5.40 4.9$259,635 
Exercisable as of February 1, 20255,632,520 $5.40 4.9$259,635 
__________
(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s Class A common stock for each period end presented, multiplied by the number of stock options outstanding or exercisable as of each period end presented.
Schedule of RSU Activity
A summary of the RSUs activity under the 2015 Plan and 2021 Plan during the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023 is presented below:
Number of SharesWeighted-Average
Grant-Date
Fair Value
Balance as of January 29, 202232,576,098 $10.83 
Granted28,915,610 $12.82 
Vested(15,211,976)$10.70 
Forfeited(5,483,628)$11.49 
Balance as of January 28, 202340,796,104 $12.20 
Granted20,030,475 $18.76 
Vested(19,209,260)$12.94 
Forfeited(6,246,045)$14.16 
Balance as of February 3, 202435,371,274 $15.17 
Granted10,910,858 $35.83 
Vested(18,161,277)$16.91 
Forfeited(5,809,991)$17.94 
Balance as of February 1, 202522,310,864 $23.14 
Schedule of Weighted Average Assumptions Used to Estimate Fair Value of ESPP Shares The weighted-average assumptions used to estimate the fair value of shares to be issued under the 2021 ESPP were as follows:
Fiscal Year Ended
February 1, 2025February 3, 2024January 28, 2023
Expected volatility
46.6% – 57.4%
61.5% – 72.5%
75.7% – 97.7%
Expected term (years)
0.5 – 1.0
0.5 – 1.0
0.5 – 1.0
Risk-free interest rate
4.2% – 5.4%
5.1% – 5.4%
2.3% – 4.8%
Expected dividend yield—%—%—%
Schedule of Stock-Based Compensation Expense
Stock-Based Compensation Expense—Stock-based compensation expense, by grant type, was as follows (in thousands):
Fiscal Year Ended
February 1, 2025February 3, 2024January 28, 2023
Stock options$2,169 $3,185 $4,386 
RSUs263,161 220,674 160,989 
Employee stock purchase plan12,540 13,223 12,098 
Total stock-based compensation expense$277,870 $237,082 $177,473 
Stock-based compensation expense included in the following line items of the Company’s consolidated statements of operations and comprehensive loss was as follows (in thousands):
Fiscal Year Ended
February 1, 2025February 3, 2024January 28, 2023
Cost of revenue$12,125 $11,957 $9,182 
Research and development100,246 89,753 62,738 
Sales and marketing84,407 70,732 53,080 
General and administrative81,092 64,640 52,473 
Total stock-based compensation expense$277,870 $237,082 $177,473