The components of stock-based compensation expense recognized in the condensed consolidated statements of operations consisted of the following (in thousands):


	Three Months Ended April 30,
	2024		2023
Cost of revenue	$	4,869	$	4,173
Research and development	17,465		14,790
Sales and marketing	18,074		12,596
General and administrative	18,145		23,990

Total	$	58,553	$	55,549


	Number of RSU	Weighted-Average Grant Date Fair Value
Outstanding as of January 31, 2024	26,079,887	$	20.29
Granted	8,849,358	23.96
Released	(2,183,744)	20.73
Forfeited	(1,494,950)	22.00
Outstanding as of April 30, 2024	31,250,551	$	21.22

As of April 30, 2024, we had unrecognized stock-based compensation expense related to unvested RSUs of $614.8 million that is expected to be recognized on a straight-line basis over a weighted-average period of 3.1 years.

In March 2024, we granted Performance Stock Units (PSUs) to certain executives subject to predetermined service-based and performance-based vesting conditions. These PSUs may vest from 0% to 225% of the number of target shares based on the achievement of certain financial performance metrics and will vest over a four-year period, subject to continuous service with us. During the three months ended April 30, 2024, we have recorded $0.6 million of stock-based compensation expense related to these PSUs.


	Number of PSUs	Weighted-Average Grant Date Fair Value
Outstanding as of January 31, 2024	1,326,570	$	15.97
Granted	219,300	22.09
Released	—	—
Forfeited	(61,877)	15.22
Outstanding as of April 30, 2024	1,483,993	$	16.91

As of April 30, 2024, we had unrecognized stock-based compensation expense related to unvested PSUs of $7.4 million that is expected to be recognized on a straight-line basis over a weighted-average period of 1.6 years.


	Number of Options	Weighted-Average Exercise Price
Outstanding as of January 31, 2024	21,159,850	$	5.63
Assumed options from PingSafe acquisition	214,976	$	0.25
Exercised	(2,345,516)	$	2.79
Forfeited	(125,319)	$	8.03
Outstanding as of April 30, 2024	18,903,991	$	5.90
Vested and expected to vest as of April 30, 2024	18,903,991	$	5.90
Vested and exercisable as of April 30, 2024	14,085,693	$	4.93

As of April 30, 2024, we had unrecognized stock-based compensation expense related to unvested options of $47.5 million that is expected to be recognized on a straight-line basis over a weighted-average period of 1.8 years.

As of April 30, 2024, we had unvested milestone options to purchase 1,404,605 shares of Class B common stock subject to service-based, performance-based and market-based vesting conditions to our Chief Executive Officer and Chief Financial Officer under our 2013 Equity Incentive Plan. During the three months ended April 30, 2024 and 2023, we recorded $0.9 million and $0.9 million, respectively, of stock-based compensation expense related to these milestone options. As of April 30, 2024, we had unrecognized stock-based compensation expense related to these milestone options of $8.2 million that is expected to be recognized over the remaining implied service period of 2.3 years.

In connection with the acquisition of PingSafe, we issued 1,497,212 shares of restricted Class A common stock. We recorded stock-based compensation expense related to these restricted shares of $3.4 million during the three months ended April 30, 2024. As of April 30, 2024, we had unrecognized stock-based compensation expense related to this unvested restricted common stock of $37.8 million.

We recognized stock-based compensation expense related to the Employee Stock Purchase Plan (ESPP) of $1.7 million and $3.0 million, respectively, during the three months ended April 30, 2024 and 2023.

During fiscal 2024, certain members of our management team converted to non-employee consultants or to positions that no longer provide substantive service to the Company (Management Transitions). These Management Transitions have been accounted for as modifications, under which, the exercise period of certain vested awards has been extended and a certain number of unvested awards will vest through the end of the agreements entered into in connection with the Management Transitions.