Our amended and restated certificate of incorporation authorizes the issuance of 2,000,000,000 shares of Class A common stock, $0.001 par value per share, and 300,000,000 shares of Class B common stock, $0.001 par value per share. Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted.

In February 2024, our Board of Directors authorized a stock repurchase program of up to $1.5 billion of our Class A common stock. In November 2024, our Board of Directors authorized the repurchase of an additional $1.2 billion of our outstanding Class A common stock. Repurchases of our Class A common stock may be effected from time to time, either on the open market (including preset trading plans), in privately negotiated transactions, and other transactions in accordance with applicable securities laws. The program does not obligate us to repurchase any specific number of shares and may be discontinued at any time.

During the three months ended April 30, 2025, we repurchased and subsequently retired 5,561,920 shares of our Class A common stock for an aggregate amount of $418.0 million. As of April 30, 2025, $1.2 billion of the repurchase authorization remained available.

We have two equity incentive plans: the 2011 Global Share Plan (“2011 Plan”) and the 2019 Equity Incentive Plan (“2019 Plan”). All shares that remain available for future grants are under the 2019 Plan.


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price	Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2025	2,394,918	$9.02	2.6	$	187,284
Exercised	(355,620)	$2.68		$	27,922
Canceled/forfeited/expired	(797)	$94.87
Outstanding and exercisable as of April 30, 2025	2,038,501	$10.10	2.6	$	138,977


	RSUs
	RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2025	23,870,513	$	73.48
Granted	2,576,206	$	72.15

Vested	(4,016,633)	$	75.24
Canceled/forfeited	(1,040,386)	$	72.04
Unvested as of April 30, 2025	21,389,700	$	73.10

As of April 30, 2025, unrecognized stock-based compensation expense related to RSUs was $1,405.1 million, which is expected to be recognized over a weighted-average period of 2.6 years.

For the three months ended April 30, 2025, we granted 0.7 million RSUs that contain both service and performance vesting criteria. The ultimate number of shares eligible to vest pursuant to these RSUs range from 0% to 100% of the target number of shares depending on achievement of the performance metrics. The number of RSUs with service and performance vesting conditions included in the granted amount in the table above reflects the shares that would be eligible to vest at 100% of the target amount.

In April 2019, we adopted the 2019 ESPP. As of April 30, 2025, unrecognized stock-based compensation expense related to the ESPP was $26.1 million, which is expected to be recognized over a weighted-average period of 1.1 years.

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended April 30,
	2025		2024

	(in thousands)
Cost of revenue	$	27,427	$	31,575
Research and development	72,936		82,569
Sales and marketing	68,433		77,234
General and administrative	32,773		38,047
Total stock-based compensation expense	$	201,569	$	229,425
Benefit from income taxes	(38,161)		(43,474)
Total stock-based compensation expense recorded to net income	$	163,408	$	185,951