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Equity Plans and Stock-based Compensation | 3 Months Ended
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Apr. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Equity Plans and Stock-based Compensation | Equity Plans and Stock-based Compensation The following sets forth the total stock-based compensation expense for employee equity plans included in the Company’s condensed consolidated statements of operations:
| Three Months Ended April 30, |  |
| 2025 |  | 2024 |  |  |  |
| (in thousands)
Cost of revenue | $ | 1,223 |  |  | $ | 1,084 |  |  |  |  |
Research and development | 8,614 |  |  | 8,303 |  |  |  |  |
Sales and marketing | 3,079 |  |  | 5,441 |  |  |  |  |
General and administrative | 4,947 |  |  | 6,771 |  |  |  |  |
Total stock-based compensation expense | $ | 17,863 |  |  | $ | 21,599 |  |  |  |  |
As of April 30, 2025, the Company had unrecognized stock-based compensation expense related to RSUs and PRSUs (as defined below), and 2021 ESPP (as defined below) of $76.6 million, which is expected to be recognized over a weighted-average period of 1.6 years. 2021 Employee Stock Purchase Plan The 2021 Employee Stock Purchase Plan (“2021 ESPP”) permits participants to purchase shares of the Company’s Common Stock at a discounted price through payroll deductions. As of April 30, 2025, 16,841,264 shares of Common Stock were available under the 2021 ESPP. 2021 Equity Incentive Plan The 2021 Equity Incentive Plan (“2021 EIP”) allows the Company to grant stock options, stock appreciation rights, restricted stock units (“RSUs”), performance restricted stock units (“PRSUs”), and certain other awards. As of April 30, 2025, 54,689,638 shares of Common Stock were available under the 2021 EIP. There were no options granted for the three months ended April 30, 2025. Restricted Stock Units A summary of RSUs outstanding under the 2021 EIP as of April 30, 2025 and changes during the fiscal year-to-date period then ended is presented in the following table:
| Number of Shares |  | Weighted Average Grant Date Fair Value per Share
Outstanding as of January 31, 2025 | 36,617,081 |  |  | $ | 2.86 |
RSU granted | 941,525 |  |  | $ | 0.60 |
RSU vested | (3,473,798) |  |  | $ | 3.74 |
RSU forfeited | (996,562) |  |  | $ | 3.30 |
Outstanding as of April 30, 2025 | 33,088,246 |  |  | $ | 2.69 |
Performance Restricted Stock Units A summary of PRSUs outstanding under the 2021 EIP as of April 30, 2025 and changes during the fiscal year-to-date period then ended is presented in the following table:
| Number of Shares |  | Weighted Average Grant Date Fair Value per Share
Outstanding as of January 31, 2025 | 3,733,180 |  |  | $ | 2.39 |
PSU vested | — |  |  | — |
Outstanding as of April 30, 2025 | 3,733,180 |  |  | $ | 2.39 |
2017 Plan and 2007 Plan In fiscal year 2022, the Company terminated its 2017 Stock Option Plan (the “2017 Plan”) and 2007 Stock Option Plan (the “2007 Plan”). A summary of options outstanding under the 2017 Plan and 2007 Plan as of April 30, 2025 and changes during the fiscal year-to-date period then ended is presented in the following table:
| Number of Stock Option Awards |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of January 31, 2025 | 2,705,924 |  |  | $ | 0.77 |  |  | 3.9 |  | $ | 528 |
Options exercised | (61,871) |  |  | $ | 0.64 |  |  |  |  |
Options cancelled | (131,798) |  |  | $ | 0.74 |  |  |  |  |
Outstanding as of April 30, 2025 | 2,512,255 |  |  | $ | 0.77 |  |  | 3.8 |  | $ | 17 |
Options vested and expected to vest as of April 30, 2025 | 2,512,255 |  |  | $ | 0.77 |  |  | 3.8 |  | $ | 17 |
Exercisable as of April 30, 2025 | 2,512,255 |  |  | $ | 0.77 |  |  | 3.8 |  | $ | 17 |

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