v3.25.1
Stock-Based Compensation (Tables)
 3 Months Ended
Apr. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table is a summary of stock option activity for the three months ended April 30, 2025:
Number of
Shares		Weighted-Average
Exercise Price
Per Share
(in thousands)
Options outstanding at January 31, 20251,251 $10.23 
Exercised(74)$8.54 
Canceled(1)$25.18 
Options outstanding at April 30, 20251,176 $10.33 
Options vested and expected to vest at April 30, 20251,176 $10.33 
Options exercisable at April 30, 20251,148 $10.07 
Schedule of RSU, PSU and Special PSU Awards Activity
The following table is a summary of RSUs, PSUs and the Special PSU Awards activities for the three months ended April 30, 2025:
Number of
Shares		Weighted-
Average Grant
Date Fair Value
Per Share
(in thousands)
RSUs and PSUs outstanding at January 31, 202511,024 $227.55 
Granted1,102 $383.41 
Released(1,128)$216.62 
Performance adjustment (1)
(55)$296.43 
Forfeited(119)$229.12 
RSUs and PSUs outstanding at April 30, 202510,824 $244.20 
RSUs and PSUs expected to vest at April 30, 2025 (2)
10,217 $241.86 
(1)The performance adjustment represents adjustments in shares outstanding due to the actual achievement of performance-based awards, the achievement of which was based upon pre-defined financial performance targets.
(2)Excludes in progress PSUs and Special PSUs where pre-defined targets have not yet been achieved.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine the fair value of employee stock purchase rights granted under the Company’s ESPP:
Three Months Ended April 30,
20252024
Expected term (in years)
0.5 – 2.0
0.5 – 2.0
Risk-free interest rate
3.4% – 5.3%
0.2% – 5.3%
Expected stock price volatility
40.8% – 59.8%
40.8% – 61.2%
Dividend yield— %— %
Schedule of Stock-based Compensation Expense
Stock-based compensation expense included in the condensed consolidated statements of operations is as follows (in thousands):
Three Months Ended April 30,
20252024
Subscription cost of revenue$24,091 $13,916 
Professional services cost of revenue9,634 6,273 
Sales and marketing65,185 52,258 
Research and development107,292 66,742 
General and administrative47,402 43,936 
Total stock-based compensation expense$253,604 $183,125