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Stock-based Compensation (Tables)
9 Months Ended
Oct. 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 October 31,

 

 

Nine Months Ended October 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Stock-based compensation:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

658

 

 

$

899

 

 

$

2,389

 

 

$

2,339

 

Research and development

 

 

16,776

 

 

 

18,637

 

 

 

51,333

 

 

 

54,653

 

Selling, general and administrative

 

 

8,307

 

 

 

7,311

 

 

 

23,337

 

 

 

23,503

 

Total stock-based compensation

 

$

25,741

 

 

$

26,847

 

 

$

77,059

 

 

$

80,495

 

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 October 31,

 

 

Nine Months Ended October 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Employee stock purchase plan awards:

 

 

 

 

 

 

 

 

 

 

 

 

Volatility

 

 

68

%

 

 

56

%

 

 

61

%

 

 

47

%

Risk-free interest rate

 

 

3.81

%

 

 

4.55

%

 

 

4.05

%

 

 

4.97

%

Expected term (years)

 

0.5

 

 

0.5

 

 

0.5

 

 

0.5

 

Dividend yield

 

 

0

%

 

 

0

%

 

 

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

 

 

(47,641

)

 

 

43.40

 

 

 

 

$

1,615

 

 

 

 

 

 

 

Expired

 

 

(16,619

)

 

 

75.00

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at October 31, 2025

 

 

162,356

 

 

 

52.45

 

 

 

 

 

 

 

 

2.26

 

 

$

5,556

 

Exercisable at October 31, 2025

 

 

162,343

 

 

$

52.46

 

 

 

 

 

 

 

 

2.26

 

 

$

5,555

 

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

 

 

1,359,268

 

 

 

74.30

 

Vested

 

 

(874,684

)

 

 

74.15

 

Forfeited

 

 

(221,545

)

 

 

86.96

 

Unvested at October 31, 2025

 

 

2,908,418

 

 

$

71.15