Stock-based Compensation (Tables)

The following table summarizes stock-based compensation expense recognized related to awards granted to employees and nonemployees, as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
(in thousands)	2025		2024		2025		2024
Cost of revenue	$	1,973	$	1,103	$	3,640	$	2,084
Research and development	4,876		3,121		9,460		8,852
Sales and marketing	2,010		2,805		3,939		5,208
General and administrative	5,242		5,156		10,277		9,786
Total expense	14,101		12,185		27,316		25,930
Capitalized to internal-use software development costs and property and equipment	(645)		(619)		(1,318)		(1,292)
Total stock-based compensation expense	$	13,456	$	11,566	$	25,998	$	24,638

A summary of stock option activity is as follows:


	Options Outstanding
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Term (Years)	Aggregate Intrinsic Value (in thousands)
Balances at January 31, 2025	23,155,090	$	5.49	4.9
Exercised	(2,311,563)	$	3.06
Granted	—	$	—
Forfeited	(579,483)	$	7.83
Balances at July 31, 2025	20,264,044	$	5.70	4.3	$	32,590
Vested and exercisable at July 31, 2025	19,849,827	$	5.62	4.2	$	32,590

A summary of Restricted Stock Unit (“RSU”) activity is as follows:


	Number of RSUs	Weighted Average Grant Date Fair Value
Balances at January 31, 2025	32,609,227	$	3.14
Vested	(7,306,030)	$	3.48
Granted	11,616,120	$	3.76
Forfeited	(1,770,282)	$	3.18
Balances at July 31, 2025	35,149,035	$	3.27