Stockholders’ Equity and Equity Incentive Plans (Tables)

6 Months Ended

Jul. 31, 2026

A summary of stock option activity under our equity incentive plan and related information is as follows:


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2026	1,542,753	$	11.81	2.2	$	124,080
Exercised	(347,510)	$4.47			$	28,751
Canceled/forfeited/expired	—	$	—
Outstanding and exercisable as of July 31, 2026	1,195,243	$13.94		2.0	$	98,159

A summary of RSU activity under our equity incentive plan and related information is as follows:


	RSUs
	RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2026	20,106,305	$	75.51
Granted	5,970,091	$	84.20

Vested	(4,995,895)	$	75.40
Canceled/forfeited	(1,313,209)	$	76.74
Unvested as of July 31, 2026	19,767,292	$	78.08

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025

	(in thousands)
Cost of revenue	$	20,272	$	24,222	$	41,235	$	51,649
Research and development	74,566		70,476		145,592		143,412
Sales and marketing	57,561		63,094		115,600		131,527
General and administrative	27,385		30,907		56,310		63,680
Total stock-based compensation expense	$	179,784	$	188,699	$	358,737	$	390,268
Benefit from income taxes	(32,877)		(35,067)		(66,574)		(73,228)
Total stock-based compensation expense recorded to net income	$	146,907	$	153,632	$	292,163	$	317,040