v3.26.1
Stockholders’ Equity and Stock-Based Compensation (Tables)
 6 Months Ended
Jul. 31, 2026
Equity [Abstract]  
Schedule of Share Repurchase Activity Under Share Repurchase Program
The following table summarizes the stock repurchase activity under the Company’s stock repurchase programs (in thousands, except share and per share data):
Three Months Ended July 31,Six Months Ended July 31,
2025202620252026
Total number of shares repurchased743,669 4,704,528 2,572,782 10,828,574 
Average price per share(1)
$26.89 $17.40 $23.53 $16.16 
Aggregate purchase price(1)
$19,995 $81,872 $60,546 $174,979 
(1) Excludes transaction costs and excise tax associated with the repurchases.
Schedule of Stock Option Activity
Stock option activity for the six months ended July 31, 2026 was as follows:
Number of
Shares		Weighted
Average
Exercise Price
Outstanding, January 31, 2026480,641 $8.06 
Expired or forfeited(5,125)15.48 
Exercised(147,225)7.98 
Outstanding, July 31, 2026328,291 $7.98 
Exercisable, July 31, 2026328,291 $7.98 
Fully vested or expected to vest, July 31, 2026328,291 $7.98 
Schedule of Nonvested Restricted Stock Units Activity
RSU activity during the six months ended July 31, 2026 was as follows:
Number of
Shares		Weighted Average
Grant Date Fair
Value
Non-vested, January 31, 20266,425,128 $28.01 
Granted4,801,785 18.24 
Vested(1,751,258)29.07 
Forfeited(529,320)26.65 
Non-vested, July 31, 20268,946,335 $22.47 
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of ESPP shares during the six months ended July 31, 2025 and 2026 was estimated at the date of grant using the Black-Scholes option valuation model based on assumptions as follows for ESPP awards:
Six Months Ended July 31,
20252026
Expected life (in years)0.500.50
Expected volatility
40.74% - 46.91%
39.41% - 55.89%
Expected dividends0.00%0.00%
Risk-free interest rate
4.25% - 4.29%
3.58% - 4.00%
Schedule of Share-Based Compensation Expense
Total stock-based compensation expense included in our unaudited condensed consolidated statements of operations was as follows:
Three Months Ended July 31,Six Months Ended July 31,
2025202620252026
Cost of subscription revenues$830 $697 $1,494 $1,352 
Cost of professional services and other revenues3,315 3,276 6,069 5,900 
Sales and marketing3,746 4,097 6,674 7,258 
Research and development3,685 4,262 7,800 7,331 
General and administrative7,040 5,670 12,393 10,065 
Total stock-based compensation expense$18,616 $18,002 $34,430 $31,906