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Stock-based Compensation (Tables)
6 Months Ended
Jul. 31, 2025
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,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Stock-based compensation:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

780

 

 

$

833

 

 

$

1,731

 

 

$

1,440

 

Research and development

 

 

16,972

 

 

 

18,395

 

 

 

34,557

 

 

 

36,016

 

Selling, general and administrative

 

 

7,436

 

 

 

8,384

 

 

 

15,030

 

 

 

16,192

 

Total stock-based compensation

 

$

25,188

 

 

$

27,612

 

 

$

51,318

 

 

$

53,648

 

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,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Employee stock purchase plan awards:

 

 

 

 

 

 

 

 

 

 

 

 

Volatility

 

 

 

 

 

 

 

 

54

%

 

 

39

%

Risk-free interest rate

 

 

 

 

 

 

 

 

4.29

%

 

 

5.38

%

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, 2025

 

 

226,616

 

 

$

52.20

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(17,284

)

 

 

42.97

 

 

 

 

$

440

 

 

 

 

 

 

 

Expired

 

 

(9,119

)

 

 

76.52

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at July 31, 2025

 

 

200,213

 

 

 

51.89

 

 

 

 

 

 

 

 

2.65

 

 

$

3,417

 

Exercisable at July 31, 2025

 

 

200,154

 

 

$

51.90

 

 

 

 

 

 

 

 

2.64

 

 

$

3,414

 

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, 2025

 

 

2,645,379

 

 

$

71.84

 

Granted

 

 

551,855

 

 

 

65.86

 

Vested

 

 

(618,865

)

 

 

73.59

 

Forfeited

 

 

(164,827

)

 

 

91.56

 

Unvested at July 31, 2025

 

 

2,413,542

 

 

$

68.68