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Employee Benefits and Stock-based Compensation (Tables)

12 Months Ended

Jan. 31, 2024

Postemployment Benefits [Abstract]

Classification of Stock-based Compensation

The following table presents the classification of stock-based compensation for the periods indicated:

		Year Ended January 31,
		2024				2023				2022
		(in thousands)
Stock-based compensation:
Cost of revenue		$	3,341			$	3,597			$	1,489
Research and development			72,759				71,236				54,787
Selling, general and administrative			35,216				36,325				31,525
Total stock-based compensation		$	111,316			$	111,158			$	87,801

Weighted-Average Assumptions Used to Estimate Fair Value

The following table sets forth the weighted-average assumptions used to estimate the fair value of stock options and employee stock purchase plan awards for the periods indicated:

		Year Ended January 31,
		2024				2023				2022
Stock Options:
Volatility			—				—				51	%
Risk-free interest rate			—				—				1.04	%
Expected term (years)			—				—				5.06
Dividend yield			—				—				0	%
Employee stock purchase plan awards:
Volatility			56	%			81	%			57	%
Risk-free interest rate			5.11	%			2.32	%			0.06	%
Expected term (years)			0.5				0.5				0.5
Dividend yield			0	%			0	%			0	%

Stock Option Activities

The following table summarizes stock option activities for the periods indicated:

		Option Outstanding
																						Weighted-
																		Total Intrinsic				Average
										Weighted-				Weighted-				Value of				Remaining		Aggregate
						Weighted-				Average				Average				options				Contractual		Intrinsic
						Average				Grant-date				Acquisition-date				Exercised				Term		Value
		Shares				Exercise Price				Fair Value				Fair Value				(in thousands)				(in years)		(in thousands)
Outstanding at January 31, 2021			719,143			$	38.33
Granted			14,700				110.19			$	50.28
Assumed			163,581				23.10							$	173.04
Exercised			(269,287	)			28.23											$	25,622
Forfeited			(7,669	)			68.95
Expired			(1,146	)			9.86
Outstanding at January 31, 2022			619,322				40.08
Exercised			(121,624	)			30.34											$	6,712
Forfeited			(10,618	)			55.97
Expired			(2,289	)			39.19
Outstanding at January 31, 2023			484,791				42.18
Exercised			(104,931	)			26.06											$	4,479
Forfeited			(926	)			42.59
Expired			(5,616	)			63.39
Outstanding at January 31, 2024			373,318				46.39															3.43		$	16,454
Exercisable at January 31, 2024			326,464			$	47.75															2.95		$	13,920

Restricted Stock Unit Activities

The following table summarizes restricted stock unit activities for the periods indicated:

						Weighted-
						Average
						Grant-Date
		Shares				Fair Value
Unvested at January 31, 2021			2,871,801			$	51.73
Granted			1,213,257				128.80
Vested			(1,367,309	)			53.85
Forfeited			(66,614	)			71.59
Unvested at January 31, 2022			2,651,135				85.41
Granted			1,549,174				74.45
Vested			(1,513,972	)			71.32
Forfeited			(112,978	)			99.46
Unvested at January 31, 2023			2,573,359				86.81
Granted			1,305,401				70.32
Vested			(1,220,608	)			78.62
Forfeited			(225,512	)			81.79
Unvested at January 31, 2024			2,432,640			$	82.54

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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 number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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