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Stock-Based Compensation (Tables)

12 Months Ended

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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Schedule of share based payment award employee stock options and employee stock purchase plan valuation assumptions .

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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