v3.25.1
Equity (Tables)
 3 Months Ended
May 03, 2025
Equity [Abstract]  
Schedule of Reserved Shares of Common Stock for Future Issuance
The Company had reserved shares of common stock for future issuance as of May 3, 2025 and February 1, 2025, as follows:
As of
May 3, 2025February 1, 2025
2015 Equity Incentive Plan:
Options outstanding5,602,651 5,632,520 
RSUs outstanding280,797 790,123 
2021 Equity Incentive Plan:
RSUs outstanding24,465,980 21,520,741 
Shares available for future grants112,782,173 90,518,967 
2021 Employee Stock Purchase Plan:
Shares available for future issuance26,941,685 21,284,493 
Total shares of common stock reserved for future issuance170,073,286 139,746,844 
Schedule of Stock Options Activity A summary of the stock options activity under the 2015 Plan during the three months ended May 3, 2025 is presented below (the number of options represents shares of common stock exercisable in respect thereof):
Number of SharesWeighted-Average
Exercise Price		Weighted-Average
Remaining
Contractual Term
(in years)
Aggregate Intrinsic Value (1)
(in thousands)
Balance as of February 1, 20255,632,520 $5.40 4.9$259,635 
Granted— $— 
Exercised(29,869)$0.74 
Forfeited, canceled, or expired— $— 
Balance as of May 3, 20255,602,651 $5.43 4.6$201,476 
Exercisable as of May 3, 20255,602,651 $5.43 4.6$201,476 
__________
(1)Aggregate intrinsic value for stock options represents the difference between the exercise price and the per share fair value of the Company’s Class A common stock for each period end presented, multiplied by the number of stock options outstanding or exercisable as of each period end presented.
Schedule of RSU Activity
A summary of the RSUs activity under the 2015 Plan and 2021 Plan during the three months ended May 3, 2025 is presented below:
Number of SharesWeighted-Average
Grant-Date
Fair Value
Balance as of February 1, 202522,310,864 $23.14 
Granted7,123,646 $35.04 
Vested(3,586,842)$20.23 
Forfeited(1,100,891)$26.09 
Balance as of May 3, 202524,746,777 $26.86 
Schedule of Stock-Based Compensation Expense Stock-based compensation expense, by grant type, was as follows (in thousands):
Three Months Ended
May 3, 2025May 4, 2024
Stock options$— $784 
RSUs74,062 60,868 
Employee stock purchase plan3,017 3,004 
Total stock-based compensation expense$77,079 $64,656 
Stock-based compensation expense included in the following line items of the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
Three Months Ended
May 3, 2025May 4, 2024
Cost of revenue$3,247 $2,930 
Research and development27,020 23,399 
Sales and marketing23,548 18,492 
General and administrative23,264 19,835 
Total stock-based compensation expense$77,079 $64,656