v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Jul. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity
Option activity under the Company’s combined stock plans is set forth below (in thousands, except years and per share data):
Number of
Shares
Weighted-
Average
Exercise
Price Per Share
Weighted-
Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic Value
Balances at January 31, 20264,356 $3.69 2.8$28,562 
Stock options granted— — 
Stock options exercised(530)2.53 
Stock options cancelled— — 
Balances at July 31, 20263,826 $3.86 2.4$17,082 
Vested and exercisable at July 31, 20263,751 $3.89 2.4$16,619 
Vested and expected to vest at July 31, 20263,826 $3.86 2.4$17,082 
Schedule of Total Intrinsic Value of Options
The total intrinsic value of stock options exercised during the periods presented were as follows:
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Aggregate intrinsic value of stock options exercised (in thousands)$1,304 $3,123 $2,698 $7,706 
Schedule of RSU Activity
The Company’s RSU activity is set forth below (in thousands, except per share data):
Number of
Shares
Weighted-
Average
Grant Date Fair Value Per Share
Aggregate
Intrinsic Value
Unvested RSUs at January 31, 202612,631 $17.06 $129,468 
RSUs granted20,926 7.11 
RSUs vested(6,108)12.26 
RSUs cancelled/forfeited(4,107)13.59 
Unvested RSUs at July 31, 202623,342 $10.01 $194,205 
RSUs vested, not yet released at July 31, 2026149 $39.84 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following assumptions were used to calculate the fair value of the Market-Based Awards granted during the six months ended July 31, 2026:
Six Months Ended July 31,
20262025
Risk-free interest rate
3.6% - 4.1%
3.7 %
Expected term
1 to 4 years
3 years
Dividend yield— %— %
Expected volatility
64.5% - 73.4%
72.6 %
Schedule of PSU Activity
The Company’s PSU activity is set forth below (in thousands, except per share data):
Number of
Shares		Weighted-
Average
Grant Date Fair Value Per Share		Aggregate
Intrinsic Value
Unvested PSUs at January 31, 2026
991 $19.98 $10,158 
PSUs granted (1)
4,156 7.72 
PSUs vested— — 
PSUs cancelled/forfeited(98)8.36 
Unvested PSUs at July 31, 20265,049 $10.11 $42,010 
__________________
(1)The Company’s total PSUs granted were made up of 866,485 Market-Based Awards and 3,289,492 Performance-Based Awards during the six months ended July 31, 2026.
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense for stock-based awards to employees and non-employees in the Company’s condensed consolidated statements of operations for the periods below were as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Cost of revenues$747 $497 $1,251 $841 
Research and development30,304 30,977 48,372 55,341 
Sales and marketing13,688 18,100 22,427 32,923 
General and administrative11,587 12,580 20,598 21,216 
Total stock-based compensation expense$56,326 $62,154 $92,648 $110,321 
Schedule of Unrecognized Stock-Based Compensation Expense Related to Unvested Awards
Total unrecognized stock-based compensation expense related to unvested awards not yet recognized under all equity compensation plans was as follows:
As of July 31, 2026
Unrecognized Expense
(in thousands)		Weighted-Average Expected Recognition Period
(in years)
Stock options$80 1.7
RSUs190,654 1.5
PSUs36,421 1.4
Total unrecognized stock-based compensation expense$227,155 1.5
Schedule of Stock Repurchase Activity
The following table summarizes the stock repurchase activity under the Company’s Repurchase Program (in thousands, except per share data):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Number of shares repurchased7,445 1,958 14,813 2,992 
Weighted-average price per share
$6.92 $14.20 $6.52 $14.51 
Aggregate purchase price
$51,541 $27,792 $96,526 $43,398