v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Apr. 30, 2026
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, 2026:
Number of
Shares		Weighted-Average
Exercise Price
Per Share
(in thousands)
Options outstanding at January 31, 2026932 $12.38 
Granted91 $17.75 
Exercised(66)$10.41 
Canceled— $18.46 
Options outstanding at April 30, 2026957 $13.02 
Options vested and expected to vest at April 30, 2026957 $13.02 
Options exercisable at April 30, 2026834 $11.28 
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, 2026:
Number of
Shares		Weighted-
Average Grant
Date Fair Value
Per Share
(in thousands)
RSUs and PSUs outstanding at January 31, 20267,852 $297.62 
Granted2,750 $419.21 
Released(1,275)$248.29 
Performance adjustment (1)
287 $387.11 
Forfeited(125)$278.98 
RSUs and PSUs outstanding at April 30, 20269,489 $342.43 
RSUs and PSUs expected to vest at April 30, 2026 (2)
8,987 $343.54 
(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, the 2026 Special PSU Award, and the 2027 Special PSU Awards 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,
20262025
Expected term (in years)
0.5 – 2.0
0.5 – 2.0
Risk-free interest rate
3.5% – 5.2%
3.4% – 5.3%
Expected stock price volatility
41.0% – 59.8%
40.8% – 59.8%
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,
20262025
Subscription cost of revenue$22,301 $23,077 
Professional services cost of revenue9,466 9,380 
Sales and marketing69,899 64,780 
Research and development125,771 104,088 
General and administrative70,266 46,336 
Total stock-based compensation expense$297,703 $247,661