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Stock-Based Compensation (Tables) | 12 Months Ended
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Jan. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity Under Equity Incentive Plans and Related Information | The following table summarizes the stock option activity under the equity incentive plans and related information:
|  | Shares Subject to Options Outstanding |  |  | Weighted- Average |  |  |  |
|  |  |  |  | Weighted- |  |  | Remaining |  |  |  |
|  |  |  |  | Average Exercise |  |  | Contractual Life |  |  | Aggregate |
|  | Shares |  |  | Price |  |  | (Years) |  |  | Intrinsic Value |
|  |  |  |  |  |  |  |  |  |  | (in thousands) |
Balance as of January 31, 2023 |  |  | 2,373,063 |  |  | $ | 17.32 |  |  |  | 3.81 |  |  | $ | 34,820 |
Options exercised |  |  | (89,520 | ) |  |  | 7.75 |  |  |  |  |  |  |
Balance as of January 31, 2024 |  |  | 2,283,543 |  |  | $ | 17.69 |  |  |  | 2.93 |  |  | $ | 18,975 |
Options exercised |  |  | (1,271,158 | ) |  |  | 17.52 |  |  |  |  |  |  |
Balance as of January 31, 2025 |  |  | 1,012,385 |  |  | $ | 17.90 |  |  |  | 2.80 |  |  | $ | 15,679 |
Exercisable as of January 31, 2025 |  |  | 1,012,385 |  |  | $ | 17.90 |  |  |  | 2.80 |  |  | $ | 15,679 |
Shares Subject to Options Outstanding Weighted-Average Weighted-Remaining Average Exercise Contractual Life Aggregate Shares Price (Years) Intrinsic Value (in thousands) Balance as of January 31, 2019 Options granted Option exercised Options forfeited/cancelled Balance as of January 31, 2020 Options granted Option exercised Options forfeited/cancelled Balance as of January 31, 2021 Vested and expected to vest as of January 31, 2021 Exercisable as of January 31, 2021 9,096,961 $9.01 4.97 $ 108,731 577,082 19.89 (659,34) 9.05 (242,110) 17.63 8,772,585 $ 9.48 4.27 $ 60,221 31,666 12.48 (1,994,667) 5.14 (192,547) 10.73 6,617,037 $ 10.773.77 $ 48,098 6,554,892 $ 10.68 3.74 $ 48,092 5,348,780 $ 8.59 2.87 $ 47,974
Summary of Restricted Stock Unit Activity Under Equity Incentive Plans and Related Information | The following table summarizes the restricted stock unit activity, inclusive of performance-based and market-based restricted stock units, under the equity incentive plans and related information:
|  | Number of |  |  | Weighted- |
|  | Restricted |  |  | Average |
|  | Stock Units |  |  | Grant Date |
|  | Outstanding |  |  | Fair Value |
Unvested balance - January 31, 2023 |  |  | 14,665,753 |  |  | $ | 24.89 |
Granted |  |  | 8,966,588 |  |  |  | 26.34 |
Vested |  |  | (8,069,193 | ) |  |  | 24.09 |
Forfeited/cancelled |  |  | (1,483,553 | ) |  |  | 25.84 |
Unvested balance - January 31, 2024 |  |  | 14,079,595 |  |  | $ | 26.17 |
Granted |  |  | 10,058,585 |  |  |  | 29.05 |
Vested |  |  | (7,628,341 | ) |  |  | 26.15 |
Forfeited/cancelled |  |  | (1,833,465 | ) |  |  | 27.02 |
Unvested balance - January 31, 2025 |  |  | 14,676,374 |  |  | $ | 28.04 |
er of Weighted- Restricted Average Stock Units Grant Date Outstanding Fair Value Unvested balance - January 31, 2019 18,098,707 $ 19.35 Granted 12,436,586 18.81 Vested, net of shares withheld for employee payroll taxes (4,166,907 ) 19.92 Forfeited/cancelled (4,560,279 ) 19.77 Unvested balance - January 31, 2020 21,808,107 $ 18.85 Granted 10,702,574 15.82 Vested, net of shares withheld for employee payroll taxes (5,100,239 ) 18.28 Forfeited/cancelled (13,079,764 ) 17.87 Unvested balance - January 31, 2021 14,330,678 $ 17.68
Summary of Components of Stock-Based Compensation Expense | The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations (in thousands):
|  | Year Ended January 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Cost of revenue |  | $ | 18,656 |  |  | $ | 19,111 |  |  | $ | 17,816 |
Research and development |  |  | 77,557 |  |  |  | 70,240 |  |  |  | 68,900 |
Sales and marketing |  |  | 75,281 |  |  |  | 65,886 |  |  |  | 58,448 |
General and administrative |  |  | 47,509 |  |  |  | 43,546 |  |  |  | 40,468 |
Total stock-based compensation |  | $ | 219,003 |  |  | $ | 198,783 |  |  | $ | 185,632 |
Summary of Estimated Fair Value of Employee Stock Options and 2015 ESPP | We estimated the fair value of 2015 ESPP purchase rights using a Black-Scholes option pricing model with the following assumptions:
| Year Ended January 31, |
| 2025 |  |  | 2024 |  |  | 2023 |
Employee Stock Purchase Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected term (in years) |  | 0.5 |  |  | – |  | 2.0 |  |  |  | 0.5 |  | – |  | 2.0 |  |  |  | 0.5 |  | – |  | 2.0 |
Risk-free interest rate |  | 3.6 | % |  | – |  | 5.4 | % |  |  | 4.1 | % | – |  | 5.5 | % |  |  | 0.9 | % | – |  | 4.0 | %
Volatility |  | 28 | % |  | – |  | 35 | % |  |  | 27 | % | – |  | 40 | % |  |  | 33 | % | – |  | 44 | %
Dividend yield |  |  |  |  |  | 0 | % |  |  |  |  |  | 0 | % |  |  |  |  |  | 0 | %
Year Ended January 31, 2021 2020 2019 Employee Stock Options Expected term (in years) 5.8 5.5 – 5.8 5.5 – 5.8 Risk-free interest rate 0.6% 1.8% 2.8% – 3.1% Volatility 46% 45% 45% Dividend yield 0% 0% 0% Employee Stock Purchase Plan Expected term (in years) 0.5 – 2.0 0.5 – 2.0 0.5 – 2.0 Risk-free interest rate 0.1% – 0.4% 1.7% – 2.5% 2.0% – 2.8% Volatility 44% – 54% 34% – 55% 37% – 50% Dividend yield 0% 0% 0%

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