Equity Incentive Plans (Tables)
|
6 Months Ended |
Jul. 31, 2025 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Stock-based Compensation Expense |
The stock-based compensation expense by line item in the unaudited condensed consolidated statements of operations is summarized as follows (in thousands):
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Three Months Ended July 31, |
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|
|
2025 |
|
|
2024 |
|
|
|
Option and RSU
Grants |
|
|
Co-Founder RSUs |
|
|
Total |
|
|
Option, RSU, and RSA Grants |
|
Platform cost of revenue |
|
$ |
1,309 |
|
|
$ |
— |
|
|
$ |
1,309 |
|
|
$ |
1,303 |
|
Professional services and other cost of revenue |
|
|
1,199 |
|
|
|
— |
|
|
|
1,199 |
|
|
|
1,079 |
|
Sales and marketing |
|
|
6,696 |
|
|
|
— |
|
|
|
6,696 |
|
|
|
3,945 |
|
Research and development |
|
|
11,770 |
|
|
|
— |
|
|
|
11,770 |
|
|
|
9,543 |
|
General and administrative |
|
|
14,815 |
|
|
|
13,518 |
|
|
|
28,333 |
|
|
|
7,815 |
|
Total stock-based compensation expense |
|
$ |
35,789 |
|
|
$ |
13,518 |
|
|
$ |
49,307 |
|
|
$ |
23,685 |
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|
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|
Six Months Ended July 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
Option and RSU
Grants |
|
|
Co-Founder RSUs |
|
|
Total |
|
|
Option, RSU, and RSA Grants |
|
Platform cost of revenue |
|
$ |
2,533 |
|
|
$ |
— |
|
|
$ |
2,533 |
|
|
$ |
2,382 |
|
Professional services and other cost of revenue |
|
|
2,417 |
|
|
|
— |
|
|
|
2,417 |
|
|
|
1,901 |
|
Sales and marketing |
|
|
11,848 |
|
|
|
— |
|
|
|
11,848 |
|
|
|
7,413 |
|
Research and development |
|
|
22,780 |
|
|
|
— |
|
|
|
22,780 |
|
|
|
16,999 |
|
General and administrative |
|
|
26,889 |
|
|
|
26,589 |
|
|
|
53,478 |
|
|
|
14,929 |
|
Total stock-based compensation expense |
|
$ |
66,467 |
|
|
$ |
26,589 |
|
|
$ |
93,056 |
|
|
$ |
43,624 |
|
|
| Schedule of Restricted Stock Units Activity |
RSUs subject to service-only vesting condition requirements consisted of the following:
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Restricted
Stock
Units |
|
|
Weighted
Average
Grant Date
Fair Value
Per Share |
|
Unvested as of January 31, 2025 |
|
|
4,142,583 |
|
|
$ |
66.31 |
|
Granted |
|
|
2,588,624 |
|
|
$ |
119.78 |
|
Released |
|
|
(938,957 |
) |
|
$ |
66.12 |
|
Forfeited |
|
|
(503,371 |
) |
|
$ |
81.68 |
|
Unvested as of July 31, 2025 |
|
|
5,288,879 |
|
|
$ |
90.17 |
|
|
| Schedule of Restricted Stock Units Activity with Performance or Market Vesting Conditions |
RSUs with Performance Conditions or Market Conditions RSU activity for awards with performance or market vesting conditions consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Restricted
Stock
Units |
|
|
Weighted
Average
Grant Date
Fair Value
Per Share |
|
Unvested as of January 31, 2025 |
|
|
7,934,292 |
|
|
$ |
44.03 |
|
Granted |
|
|
— |
|
|
$ |
— |
|
Released |
|
|
(446,123 |
) |
|
$ |
58.05 |
|
Forfeited |
|
|
(123,727 |
) |
|
$ |
52.00 |
|
Unvested as of July 31, 2025 |
|
|
7,364,442 |
|
|
$ |
43.05 |
|
|
| Stock Options with Service-Only Conditions |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Stock Option Activity or Market Vesting Conditions |
Activity for stock options that contain service only vesting conditions was as follows:
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|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
|
|
Average |
|
|
|
|
|
Weighted |
|
|
Remaining |
|
|
|
|
|
Average |
|
|
Contractual |
|
|
Number of |
|
|
Exercise |
|
|
Life |
|
|
Options |
|
|
Price |
|
|
(years) |
Outstanding as of January 31, 2025 |
|
|
5,806,607 |
|
|
$ |
14.67 |
|
|
5.10 |
Granted |
|
|
— |
|
|
$ |
— |
|
|
|
Exercised |
|
|
(1,376,744 |
) |
|
$ |
13.17 |
|
|
|
Cancelled/Forfeited |
|
|
(9,975 |
) |
|
$ |
36.21 |
|
|
|
Outstanding as of July 31, 2025 |
|
|
4,419,888 |
|
|
$ |
15.09 |
|
|
4.78 |
Exercisable as of July 31, 2025 |
|
|
4,306,368 |
|
|
$ |
15.09 |
|
|
4.76 |
|
| Stock Options with Performance and Market Conditions |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Schedule of Stock Option Activity or Market Vesting Conditions |
Stock option activity for awards with performance or market vesting conditions consisted of the following:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
|
|
Average |
|
|
|
|
|
Weighted |
|
|
Remaining |
|
|
|
|
|
Average |
|
|
Contractual |
|
|
Number of |
|
|
Exercise |
|
|
Life |
|
|
Options |
|
|
Price |
|
|
(years) |
Outstanding as of January 31, 2025 |
|
|
800,248 |
|
|
$ |
13.64 |
|
|
5.92 |
Granted |
|
|
— |
|
|
$ |
— |
|
|
|
Exercised |
|
|
(20,760 |
) |
|
$ |
14.32 |
|
|
|
Cancelled/Forfeited |
|
|
— |
|
|
$ |
— |
|
|
|
Outstanding as of July 31, 2025 |
|
|
779,488 |
|
|
$ |
13.62 |
|
|
5.34 |
|