v3.26.1
Equity-Based Compensation (Tables)
 3 Months Ended
Apr. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Equity-based Compensation Expense
A summary of the Company’s equity-based compensation expense by award type is presented below (in thousands):
Three Months Ended April 30,
20262025
Incentive equity units$— $62,358 
Equity appreciation rights— 13,307 
Restricted stock awards1,340 4,952 
Restricted stock units68,916 38,517 
Employee stock purchase plan344 — 
Cash-settled awards16 41,571 
Total equity-based compensation expense$70,616 $160,705 
A summary of the Company’s equity-based compensation expense as recognized in the condensed consolidated statements of operations is presented below (in thousands):
Three Months Ended April 30,
20262025
Cost of revenue - subscription$4,611 $11,264 
Cost of revenue - services and other1,918 10,328 
Research and development15,475 27,839 
Sales and marketing22,470 53,503 
General and administrative24,648 57,525 
Total equity-based compensation expense, net of amounts capitalized$69,122 $160,459 
Capitalized equity-based compensation1,494 246 
Total equity-based compensation expense$70,616 $160,705 
Schedule of Company's Anti-dilutive Securities The following table summarizes the Company’s anti-dilutive securities (in thousands):
Three Months Ended April 30,
20262025
Unvested shares - RSAs
170 1,066 
Unvested shares - RSUs29,416 16,570 
ESPP
966 — 
Total30,552 17,636 
Summary of Valuation Assumptions for ESPP The following table summarizes the assumptions used in the Monte Carlo model to determine the grant-date fair value of employee stock purchase rights granted under the ESPP for the offering period with a grant date occurring during the three months ended April 30, 2026:
Three Months Ended April 30, 2026
Expected term (in years)0.49
Expected volatility65.00 %
Risk-free interest rate3.74 %
Expected dividend yield— %