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Stockholders’ Equity and Employee Incentive Plans (Tables)
3 Months Ended
Apr. 30, 2024
Equity And Compensation Related Costs Share Based Payments [Abstract]  
Schedule of Reserved Common Stock for Future Issuance
As of April 30, 2024, the Company has reserved common stock for future issuance as follows:
Number of Shares
Stock options outstanding5,465,173 
Restricted stock units issued and outstanding5,930,054 
Remaining shares available for issuance under the 2021 Plan3,565,156 
Shares available for issuance under the 2023 Inducement Plan955,779 
ESPP1,606,656 
Common stock warrants105,350 
Total17,628,168 
Schedule of Stock Option Activity under Stock Plans
The following table summarizes stock option activity under the Stock Plans for the three months ended April 30, 2024 (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, 2024
5,889,938 $10.38 4.84$86,742 
Options exercised(406,055)$8.11 
Options cancelled(18,710)$24.78 
Balances as of April 30, 2024
5,465,173 $10.50 4.55$75,355 
Options vested and expected to vest as of April 30, 2024
5,465,173 $10.50 4.55$75,355 
Options vested and exercisable as of April 30, 2024
5,152,472 $9.80 4.41$74,479 
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following table is a summary of service-based RSU activity for the three months ended April 30, 2024:
RSUs Outstanding
Number of RSUs Weighted Average Grant Date Fair Value Per Share
Balances as of January 31, 2024
3,909,920 $17.56 
RSUs granted1,743,216 $27.48 
RSUs vested(531,351)$17.32 
RSUs forfeited(137,331)$18.93 
Balances as of April 30, 2024
4,984,454 $21.02 
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:
Three Months Ended April 30,
20242023
Employee Stock Purchase Plan:
Expected term (in years)1.20.8
Expected volatility60.1 %66.9 %
Risk-free interest rate5.0 %4.8 %
Dividend yield— — 
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense, net of amounts capitalized was as follows (in thousands):
Three Months Ended April 30,
20242023
Cost of revenue—subscription$266$193
Cost of revenue—services141145
Research and development3,9932,768
Sales and marketing5,2233,241
General and administrative5,0042,928
Restructuring1
Total stock-based compensation expense$14,627 $9,276