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Stock-based Compensation (Tables) | 6 Months Ended
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Jul. 31, 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 July 31, |  |  | Six Months Ended July 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
Stock-based compensation: |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 833 |  |  | $ | 885 |  |  | $ | 1,440 |  |  | $ | 1,826 |
Research and development |  |  | 18,395 |  |  |  | 18,550 |  |  |  | 36,016 |  |  |  | 36,911 |
Selling, general and administrative |  |  | 8,384 |  |  |  | 8,687 |  |  |  | 16,192 |  |  |  | 16,650 |
Total stock-based compensation |  | $ | 27,612 |  |  | $ | 28,122 |  |  | $ | 53,648 |  |  | $ | 55,387 |
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 July 31, |  |  | Six Months Ended July 31, |
|  | 2024 |  |  | 2023 |  |  | 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:
|  | Options 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 |  |  | (60,129 | ) |  |  | 36.98 |  |  |  |  | $ | 960 |  |  |  |  |  |  |
Expired |  |  | (1,258 | ) |  |  | 49.81 |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at July 31, 2024 |  |  | 311,931 |  |  |  | 48.19 |  |  |  |  |  |  |  |  | 3.40 |  |  | $ | 2,947 |
Exercisable at July 31, 2024 |  |  | 283,954 |  |  | $ | 49.56 |  |  |  |  |  |  |  |  | 3.12 |  |  | $ | 2,343 |
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 |  |  | 639,240 |  |  |  | 65.63 |
Vested |  |  | (594,910 | ) |  |  | 75.11 |
Forfeited |  |  | (114,308 | ) |  |  | 131.26 |
Unvested at July 31, 2024 |  |  | 2,362,662 |  |  | $ | 77.48 |

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