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Stock-Based Compensation | 6 Months Ended
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Jul. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Summary of Stock Option Activity A summary of the Company’s stock option activity for the Plan for the three and six months ended July 31, 2022 is as follows:
| Number of stock options |  | Weighted average exercise price |  | Weighted average remaining contractual life |  |
| (in thousands) |  |  |  | (in years) |  |
Outstanding as of January 31, 2022 | 44,355 |  |  | 6.23 |  |  | 7.8 |  |
Exercised | (2,309) |  |  | 4.51 |  |  |  |  |
Cancelled/forfeited | (3,929) |  |  | 7.98 |  |  |  |  |
Outstanding as of July 31, 2022 | 38,117 |  |  | 6.15 |  |  | 7.1 |  |
Exercisable as of July 31, 2022 | 24,504 |  |  | $ | 5.31 |  |  | 6.7 |  |
Vested and expected to vest as of July 31, 2022 | 34,685 |  |  | $ | 5.87 |  |  | 7.0 |  |
Restricted Stock Units A summary of the Company’s RSU award activity was as follows:
| Number of restricted shares |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
Outstanding as of January 31, 2022 | 1,730 |  |  | $ | 14.67 |
Granted | 7,732 |  |  | 12.74 |
Released | (206) |  |  | 13.31 |
Cancelled/forfeited | (578) |  |  | 13.77 |
Outstanding as of July 31, 2022 | 8,679 |  |  | $ | 13.06 |
Stock-Based Compensation Expense Stock-based compensation expense included in operating results was allocated as follows (in thousands):
| Three Months Ended July 31, |  | Six Months Ended July 31,
| 2022 | 2021 |  | 2022 | 2021
Costs of subscription | $ | 389 |  | $ | 443 |  |  | $ | 798 |  | $ | 822 |
Costs of professional services | 779 |  | 737 |  |  | 1,402 |  | 1,022 |
Research and development | 3,148 |  | 1,501 |  |  | 5,496 |  | 2,729 |
Sales and marketing | 7,809 |  | 4,766 |  |  | 13,665 |  | 8,966 |
General and administrative | 4,072 |  | 9,179 |  |  | 7,350 |  | 11,993 |
Stock-based compensation, net of amounts capitalized | 16,197 |  | 16,626 |  |  | 28,711 |  | 25,532 |
Capitalized stock-based compensation | 677 |  | 233 |  |  | 875 |  | 233 |
Total stock-based compensation | $ | 16,874 |  | $ | 16,859 |  |  | $ | 29,586 |  | $ | 25,765 |
| Three Months Ended July 31, |  | Six Months Ended July 31,
| 2022 | 2021 |  | 2022 | 2021
Equity classified awards | 16,624 |  | 16,609 |  |  | $ | 29,086 |  | $ | 25,265 |
Other awards (1) | 250 |  | 250 |  |  | 500 |  | 500 |
| $ | 16,874 |  | $ | 16,859 |  |  | $ | 29,586 |  | $ | 25,765 |
(1) Nonemployee grant recorded over five years, representing the same period and in the same manner as if the grantor had paid cash for the services instead of paying with or using the share-based payment award. Employee Stock Purchase Plan During the second quarter of fiscal year 2023, the fair market value of the Company's stock on the purchase date, June 15, 2022, was lower than the fair market value of the Company's stock on the offering date. As a result, the offering period was reset and the new lower price became the new offering price for a new 12 months offering period. This reset was treated as a modification resulting in incremental charges totaling $3.7 million, which will be recognized over the remaining requisite service period. As of July 31, 2022, total unrecognized compensation cost related to unvested awards not yet recognized under all equity compensation plans, adjusted for estimated forfeitures, was as follows:
| July 31, 2022
| Unrecognized expense |  | Weighted average expense recognition period
| (in thousands) |  | (in years)
Stock options | $ | 28,673 |  |  | 2.4
Performance share units | 1,696 |  |  | 2.5
Restricted stock units | 54,256 |  |  | 3.5
ESPP | 4,029 |  |  | 1.0

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