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Equity (Tables)
 6 Months Ended
Jul. 31, 2024
Equity [Abstract]  
Schedule of Stock Reserved For Future Issuance
The Company had shares of common stock reserved for future issuance as follows (in thousands):
July 31, 2024January 31, 2024
Class A and Class B common stock
Options issued and outstanding7,481 8,503 
Shares available for issuance under Equity Incentive Plans29,797 24,868 
RSUs and PSUs issued and outstanding12,405 10,930 
Shares reserved for issuance to charitable organizations1,284 1,404 
ESPP 6,722 5,398 
Total57,689 51,103 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The awards available for grant under the above Plans for the periods presented were as follows (in thousands):
July 31, 2024January 31, 2024
Available at beginning of period 24,868 21,483 
Awards authorized7,878 7,557 
RSUs and PSUs granted(4,238)(6,258)
RSUs and PSUs canceled and forfeited1,198 1,292 
Options canceled and forfeited91 777 
Options repurchased— 17 
Available at end of period 29,797 24,868 
Share-based Payment Arrangement, Option, Activity
The following table summarizes options activity under the Plans, and related information:
Number of Stock Options Outstanding (in thousands)Weighted Average Exercise PriceWeighted Average Remaining YearsAggregate Intrinsic value (in millions)
Balances at January 31, 20248,503 $13.03 5.85$499.2 
Options granted— — — 
Options exercised(931)10.82 — 
Options canceled(11)13.75 — 
Options forfeited(80)18.30 — 
Balances at July 31, 2024
7,481 $13.18 5.39$284.7 
Options vested at July 31, 2024
6,252 $12.18 5.13$244.2 
Options vested and expected to vest at July 31, 2024
7,481 $13.18 5.39$284.7 
Schedule of Restricted Stock Units Activity
The following table summarizes the Company’s RSU activity:
Number of Shares (in thousands) (1)
Weighted-
Average
grant date
fair value
Balances at January 31, 20247,701 $47.20 
Granted4,238 53.15 
Vested(1,565)48.70 
Canceled/forfeited(1,198)48.44 
Balances at July 31, 2024
9,176 $49.48 
(1) The table above does not include 3 million RSUs granted to the Company’s founder and the Chief Executive Officer (“CEO”) described below.
Schedule of Estimating the Fair Value of the ESPP
The following table summarizes assumptions used in estimating the fair value of the ESPP for the new offering period in effect using the Black-Scholes option-pricing model:
Three Months Ended July 31,
20242023
Risk-free interest rate
4.70% - 5.25%
4.22% - 5.30%
Volatility
50.94% - 60.50%
40.95% - 51.00%
Expected term (in years)
0.50 - 2.00
0.50 - 2.00
Dividend yield—%—%
Schedule of Share Based Compensation Expense
The Company recognized stock-based compensation expense as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Cost of revenue$2,076 $1,698 $3,931 $3,112 
Sales and marketing19,881 21,295 37,278 35,059 
Research and development16,114 12,477 28,450 24,179 
General and administrative10,898 10,898 21,562 16,348 
Total stock-based compensation expense (1)
$48,969 $46,368 $91,221 $78,698 
(1) The table above includes stock-based compensation of JiHu. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion.