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Stockholders' Equity (Deficit) and Employee Incentive Plans (Tables)
6 Months Ended
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 outstanding8,297,260 
Restricted stock units issued and outstanding4,494,972 
Remaining shares available for issuance under the 2021 Plan2,177,442 
ESPP1,030,975 
Common stock warrants105,350 
Total16,105,999 
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 OutstandingWeighted-
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 granted3,451,192 $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 RSUsWeighted Average Grant Date Fair Value Per Share
Balances as of January 31, 20221,214,000 $6.48 
RSUs granted14,000 $5.30 
RSUs vested— $— 
RSUs forfeited(70,000)$6.48 
Balances as of July 31, 20221,158,000 $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
Volatility50.0 %
Risk-free interest rate1.7 %
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
Volatility63.0 %
Risk-free interest rate2.9 %
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,
2022202120222021
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,
2022202120222021
Cost of revenue—subscription$141 $30 $263 $57 
Cost of revenue—services117 24 211 46 
Research and development2,087 569 3,986 1,139 
Sales and marketing2,463 688 4,450 1,229 
General and administrative1,919 670 3,267 1,339 
Total stock-based compensation expense$6,727 $1,981 $12,177 $3,810