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Equity (Tables)
 6 Months Ended
Aug. 02, 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 August 2, 2025 and February 1, 2025, as follows:
As of
August 2, 2025February 1, 2025
2015 Equity Incentive Plan:
Options outstanding5,599,181 5,632,520 
RSUs outstanding76,229 790,123 
2021 Equity Incentive Plan:
RSUs outstanding20,965,069 21,520,741 
Shares available for future grants112,775,180 90,518,967 
2021 Employee Stock Purchase Plan:
Shares available for future issuance26,358,940 21,284,493 
Total shares of common stock reserved for future issuance165,774,599 139,746,844 
Schedule of Stock Options Activity A summary of the stock options activity under the 2015 Plan during the six months ended August 2, 2025 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 February 1, 20255,632,520 $5.40 4.9$259,635 
Granted— $— 
Exercised(33,339)$0.78 
Forfeited, canceled, or expired— $— 
Balance as of August 2, 20255,599,181 $5.43 4.4$171,213 
Exercisable as of August 2, 20255,599,181 $5.43 4.4$171,213 
__________
(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 six months ended August 2, 2025 is presented below:
Number of SharesWeighted-Average
Grant-Date
Fair Value
Balance as of February 1, 202522,310,864 $23.14 
Granted7,993,176 $35.69 
Vested(7,299,314)$21.62 
Forfeited(1,963,428)$26.03 
Balance as of August 2, 202521,041,298 $28.17 
Schedule of Weighted Average Assumptions Used to Estimate Fair Value of ESPP Shares The weighted-average assumptions used to estimate the fair value of shares to be issued under the 2021 ESPP were as follows:
Six Months Ended
August 2, 2025August 3, 2024
Expected volatility
51.7% – 57.6%
53.2% – 57.4%
Expected term (years)
0.5 – 1.0
0.5 – 1.0
Risk-free interest rate
4.1% – 4.3%
5.2% – 5.4%
Expected dividend yield—%—%
Schedule of Stock-Based Compensation Expense Stock-based compensation expense, by grant type, was as follows (in thousands):
Three Months EndedSix Months Ended
August 2, 2025August 3, 2024August 2, 2025August 3, 2024
Stock options$— $773 $— $1,557 
RSUs78,086 67,630 152,148 128,498 
Employee stock purchase plan3,049 3,201 6,066 6,205 
Total stock-based compensation expense$81,135 $71,604 $158,214 $136,260 
Stock-based compensation expense included in the following line items of the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
Three Months EndedSix Months Ended
August 2, 2025August 3, 2024August 2, 2025August 3, 2024
Cost of revenue$3,620 $3,218 $6,867 $6,148 
Research and development29,859 25,977 56,879 49,376 
Sales and marketing23,836 21,386 47,384 39,878 
General and administrative23,820 21,023 47,084 40,858 
Total stock-based compensation expense$81,135 $71,604 $158,214 $136,260