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Equity (Tables)
 9 Months Ended
Nov. 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 November 1, 2025 and February 1, 2025, as follows:
As of
November 1, 2025February 1, 2025
2015 Equity Incentive Plan:
Options outstanding5,572,614 5,632,520 
RSUs outstanding52 790,123 
2021 Equity Incentive Plan:
RSUs outstanding17,719,356 21,520,741 
Shares available for future grants112,754,217 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 issuance162,405,179 139,746,844 
Schedule of Stock Options Activity A summary of the stock options activity under the 2015 Plan during the nine months ended November 1, 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(59,906)$0.58 
Forfeited, canceled, or expired— $— 
Balance as of November 1, 20255,572,614 $5.45 4.1$193,447 
Exercisable as of November 1, 20255,572,614 $5.45 4.1$193,447 
__________
(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 nine months ended November 1, 2025 is presented below:
Number of SharesWeighted-Average
Grant-Date
Fair Value
Balance as of February 1, 202522,310,864 $23.14 
Granted9,394,435 $35.91 
Vested(10,642,167)$22.28 
Forfeited(3,343,724)$26.05 
Balance as of November 1, 202517,719,408 $29.88 
Schedule of Weighted Average Assumptions Used to Estimate Fair Value of ESPP Shares The weighted-average assumptions used to estimate the fair value of shares to be issued under the 2021 ESPP were as follows:
Nine Months Ended
November 1, 2025November 2, 2024
Expected volatility
51.7% – 57.6%
53.2% – 57.4%
Expected term (years)
0.5 – 1.0
0.5 – 1.0
Risk-free interest rate
4.1% – 4.3%
5.2% – 5.4%
Expected dividend yield0.0%0.0%
Schedule of Stock-Based Compensation Expense Stock-based compensation expense, by grant type, was as follows (in thousands):
Three Months EndedNine Months Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Stock options$— $612 $— $2,169 
RSUs74,967 68,895 227,115 197,393 
Employee stock purchase plan2,876 3,085 8,942 9,290 
Total stock-based compensation expense$77,843 $72,592 $236,057 $208,852 
Stock-based compensation expense included in the following line items of the Company’s condensed consolidated statements of operations and comprehensive income (loss) was as follows (in thousands):
Three Months EndedNine Months Ended
November 1, 2025November 2, 2024November 1, 2025November 2, 2024
Cost of revenue$3,553 $3,041 $10,420 $9,189 
Research and development30,896 26,899 87,775 76,275 
Sales and marketing20,541 22,008 67,925 61,886 
General and administrative22,853 20,644 69,937 61,502 
Total stock-based compensation expense$77,843 $72,592 $236,057 $208,852