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Stockholders' Equity (Deficit) and Employee Incentive Plans (Tables) | 6 Months Ended
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Jul. 31, 2022
Equity And Compensation Related Costs Share Based Payments [Abstract] |
Schedule of Reserved Common Stock for Future Issuance | As of July 31, 2022, the Company has reserved common stock for future issuance as follows:
| Number of Shares
Stock options outstanding | 8,297,260 |
Restricted stock units issued and outstanding | 4,494,972 |
Remaining shares available for issuance under the 2021 Plan | 2,177,442 |
ESPP | 1,030,975 |
Common stock warrants | 105,350 |
Total | 16,105,999 |
Schedule of Stock Option Activity under Stock Plans | The following table summarizes stock option activity under the Stock Plans for the six months ended July 31, 2022 (aggregate intrinsic value in thousands):
| Options Outstanding |  | Weighted- Average Contractual Term |  | Aggregate Intrinsic Value
Number of Options |  | Weighted- Average Exercise Price |  |
Balances as of January 31, 2022 | 9,150,821 |  |  | $ | 9.76 |  |  | 6.53 |  | $ | 126,368 |
Options exercised | (544,257) |  |  | $ | 6.02 |  |  |  |  |
Options granted | — |  |  | $ | — |  |  |  |  |
Options cancelled | (309,304) |  |  | $ | 13.24 |  |  |  |  |
Balances as of July 31, 2022 | 8,297,260 |  |  | $ | 9.87 |  |  | 5.95 |  | $ | 57,061 |
Options vested and expected to vest as of July 31, 2022 | 8,297,260 |  |  | $ | 9.87 |  |  | 5.95 |  | $ | 57,061 |
Options vested and exercisable as of July 31, 2022 | 6,290,244 |  |  | $ | 7.84 |  |  | 5.22 |  | $ | 50,815 |
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity | The following table is a summary of service-based RSU activity for the six months ended July 31, 2022:
| RSUs Outstanding
Number of RSUs |  | Weighted Average Grant Date Fair Value Per Share
Balances as of January 31, 2022 | 283,558 |  |  | $ | 43.76 |
RSUs granted | 3,451,192 |  |  | $ | 18.63 |
RSUs vested | (125,803) |  |  | $ | 19.87 |
RSUs forfeited | (271,975) |  |  | $ | 23.04 |
Balances as of July 31, 2022 | 3,336,972 |  |  | $ | 20.36 |
The following table is a summary of market-based RSU activity for the six months ended July 31, 2022:
| RSUs Outstanding
Number of RSUs |  | Weighted Average Grant Date Fair Value Per Share
Balances as of January 31, 2022 | 1,214,000 |  |  | $ | 6.48 |
RSUs granted | 14,000 |  |  | $ | 5.30 |
RSUs vested | — |  |  | $ | — |
RSUs forfeited | (70,000) |  |  | $ | 6.48 |
Balances as of July 31, 2022 | 1,158,000 |  |  | $ | 6.47 |
Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions | The grant fair value of each tranche was calculated using a Monte Carlo simulation model with the following assumptions:
| Year ended January 31, 2022
Expected term (in years) | 5.0
Volatility | 50.0 | %
Risk-free interest rate | 1.7 | %
Dividend yield | — |
The grant fair value of each tranche was calculated using a Monte Carlo simulation model with the following assumptions:
| Three and Six Months Ended July 31, 2022
Expected term (in years) | 4.7
Volatility | 63.0 | %
Risk-free interest rate | 2.9 | %
Dividend yield | — |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of employee stock options was estimated using the following weighted-average assumptions:
| Three Months Ended July 31, |  | Six Months Ended July 31, |  |
2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
Stock Option Plans: |  |  |  |  |  |  |  |  |  |  |
Expected term (in years) | * |  | 6.1 |  | * |  | 6.1 |  |  |  |
Expected volatility | * |  | 42.4 | % |  | * |  | 42.0 | % |  |  |  |
Risk-free interest rate | * |  | 1.0 | % |  | * |  | 1.0 | % |  |  |  |
Dividend yield | * |  | — |  |  | * |  | — |  |  |  |  |
*No stock options were granted during the three and six months ended July 31, 2022.
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The fair value of employee stock purchase rights for the offering period under the 2021 ESPP was determined on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
| Six Months Ended July 31, 2022
Employee Stock Purchase Plan: |
Expected term (in years) | 1.1 - 2.1
Expected volatility | 46.7% - 52.1%
Risk-free interest rate | 0.1% - 0.2%
Dividend yield | —
Schedule of Stock-Based Compensation Expense | Stock-Based Compensation Stock-based compensation expense, net of amounts capitalized was as follows (in thousands):
| Three Months Ended July 31, |  | Six Months Ended July 31,
2022 |  | 2021 |  | 2022 |  | 2021
Cost of revenue—subscription | $ | 141 |  |  | $ | 30 |  |  | $ | 263 |  |  | $ | 57 |
Cost of revenue—services | 117 |  |  | 24 |  |  | 211 |  |  | 46 |
Research and development | 2,087 |  |  | 569 |  |  | 3,986 |  |  | 1,139 |
Sales and marketing | 2,463 |  |  | 688 |  |  | 4,450 |  |  | 1,229 |
General and administrative | 1,919 |  |  | 670 |  |  | 3,267 |  |  | 1,339 |
Total stock-based compensation expense | $ | 6,727 |  |  | $ | 1,981 |  |  | $ | 12,177 |  |  | $ | 3,810 |

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