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Stockholders' Equity (Tables)
12 Months Ended
Jan. 31, 2025
Equity [Abstract]  
Summary of Share of Common Stock Reserved for Future Issuance
We have reserved the following shares of common stock, on an as-if converted basis, for future issuance as follows:
January 31,
(in thousands)20252024
RSUs outstanding27,268 26,965 
Options issued and outstanding83 1,385 
Remaining shares available for future issuance under the Equity Incentive Plans39,387 35,663 
Remaining shares available for future issuance under the ESPP11,819 10,628 
Total shares of common stock reserved78,557 74,641 
Summary of Share-based Compensation, Activity
Shares available for grant under the 2018 Plan for the year ended January 31, 2025 was as follows:
(in thousands)Year Ended
January 31, 2025
Available at beginning of fiscal year35,663 
Awards authorized10,266 
Shares granted(13,892)
Shares canceled/expired4,029 
Shares withheld for taxes3,321 
Available at end of fiscal year39,387 
Summary of RSU Activity
RSU activity for the year ended January 31, 2025 was as follows:
(in thousands, except per share data)Number of UnitsWeighted-Average Grant Date Fair Value
Unvested at January 31, 202426,700 $60.70 
Granted13,892 60.89 
Vested(9,296)67.55 
Canceled(4,028)64.83 
Unvested at January 31, 202527,268 $57.62 
Summary of Valuation Assumptions
We calculated the fair value of the RSU with market conditions using a Monte Carlo option-pricing model based on the following assumptions:
Year Ended January 31,
202520242023
Risk-free interest rate
3.85% - 4.41%
4.12 %
3.21% - 4.42%
Expected dividend yield— %— %— %
Expected life (in years)
2.8 - 3.0
3.0
1.0 - 6.7
Expected volatility
69% - 70%
71 %
54% - 66%
Summary of Options Activity
Option activity for the year ended January 31, 2025 was as follows:
(in thousands, except per share data and years)Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding at January 31, 2024, all vested and exercisable1,385 $17.39 2.63$60,117 
Exercised(1,301)17.43 
Canceled/expired(1)13.43 
Outstanding at January 31, 2025, all vested and exercisable83 $16.82 0.44$6,187 
Summary of ESPP Valuation Assumptions
We calculated the fair value of the ESPP purchase right using the Black-Scholes option-pricing model, based on the following assumptions:
Year Ended January 31,
202520242023
Risk-free interest rate
4.45% - 5.35%
4.93% - 5.59%
1.15%-4.04%
Expected dividend yield— %— %— %
Expected life of purchase right (in years)0.50.50.5
Expected volatility
32% - 41%
31% - 76%
83% - 102%
Summary of Share Repurchase Activity
The following table summarizes the share repurchase activity under our stock repurchase program:
Year Ended January 31,
(in thousands)
202520242023
Number of shares repurchased10,954 3,058 1,135 
Aggregate purchase price
$684,989 $145,515 $63,041