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Stock-based Compensation (Tables) | 3 Months Ended
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Apr. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Classification of Stock-based Compensation | The following table presents the classification of stock-based compensation for the periods indicated:
|  | Three Months Ended April 30, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Stock-based compensation: |  |  |  |  |  |
Cost of revenue |  | $ | 607 |  |  | $ | 941 |
Research and development |  |  | 17,621 |  |  |  | 18,361 |
Selling, general and administrative |  |  | 7,808 |  |  |  | 7,963 |
Total stock-based compensation |  | $ | 26,036 |  |  | $ | 27,265 |
Weighted-Average Assumptions Used to Estimate Fair Value | The following table sets forth the weighted-average assumptions used to estimate the fair value of employee stock purchase plan awards for the periods indicated:
|  | Three Months Ended April 30, |
|  | 2024 |  |  | 2023 |
Employee stock purchase plan awards: |  |  |  |  |  |
Volatility |  |  | 39 | % |  |  | 59 | %
Risk-free interest rate |  |  | 5.38 | % |  |  | 4.73 | %
Expected term (years) |  |  | 0.5 |  |  | 0.5 |
Dividend yield |  |  | 0 | % |  |  | 0 | %
Stock Option Activities | The following table summarizes stock option activities for the period indicated:
|  | Option Outstanding |
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  |  |  |  |  |  | Total Intrinsic |  |  | Average |  |  |  |
|  |  |  |  |  |  |  | Weighted- |  | Value Of |  |  | Remaining |  |  | Aggregate |
|  |  |  |  | Weighted- |  |  | Average |  | Options |  |  | Contractual |  |  | Intrinsic |
|  |  |  |  | Average |  |  | Grant-date |  | Exercised |  |  | Term |  |  | Value |
|  | Shares |  |  | Exercise Price |  |  | Fair Value |  | (in thousands) |  |  | (in years) |  |  | (in thousands) |
Outstanding at January 31, 2024 |  |  | 373,318 |  |  | $ | 46.39 |  |  |  |  |  |  |  |  |  |  |  |
Exercised |  |  | (32,065 | ) |  |  | 37.72 |  |  |  |  | $ | 351 |  |  |  |  |  |  |
Expired |  |  | (62 | ) |  |  | 11.16 |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at April 30, 2024 |  |  | 341,191 |  |  |  | 47.21 |  |  |  |  |  |  |  |  | 3.43 |  |  | $ | 1,956 |
Exercisable at April 30, 2024 |  |  | 304,129 |  |  | $ | 48.61 |  |  |  |  |  |  |  |  | 3.05 |  |  | $ | 1,409 |
Restricted Stock Unit Activities | The following table summarizes restricted stock unit activities for the period indicated:
|  |  |  |  | Weighted- |
|  |  |  |  | Average |
|  |  |  |  | Grant-Date |
|  | Shares |  |  | Fair Value |
Unvested at January 31, 2024 |  |  | 2,432,640 |  |  | $ | 82.54 |
Granted |  |  | 604,990 |  |  |  | 66.21 |
Vested |  |  | (335,348 | ) |  |  | 73.44 |
Forfeited |  |  | (89,977 | ) |  |  | 148.33 |
Unvested at April 30, 2024 |  |  | 2,612,305 |  |  | $ | 77.66 |

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