The following table presents the classification of stock-based compensation for the periods indicated:


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025
	(in thousands)
Stock-based compensation:
Cost of revenue	$	951	$	780	$	1,734	$	1,731
Research and development		14,007		16,972		27,721		34,557
Selling, general and administrative		7,742		7,436		15,138		15,030
Total stock-based compensation	$	22,700	$	25,188	$	44,593	$	51,318

As of July 31, 2026, approximately $2.5 million of stock-based compensation expense was accrued in accrued and other current liabilities in the condensed consolidated balance sheets. Total unrecognized compensation cost of unvested awards at July 31, 2026 was approximately $174.1 million and is expected to be recognized over a weighted-average period of 2.50 years.

The following table sets forth the weighted-average assumptions used to estimate the fair value of employee stock purchase plan awards for the periods indicated:


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026			2025
Employee stock purchase plan awards:
Volatility		—		—		66	%		54	%
Risk-free interest rate		—		—		3.72	%		4.29	%
Expected term (years)		—		—	0.5			0.5
Dividend yield		—		—		0	%		0	%

The following table summarizes stock option activities for the period indicated:


	Options Outstanding
									Weighted-
							Total Intrinsic		Average
						Weighted-	Value Of		Remaining		Aggregate
				Weighted-		Average	Options		Contractual		Intrinsic
				Average		Grant-date	Exercised		Term		Value
	Shares			Exercise Price		Fair Value	(in thousands)		(in years)		(in thousands)
Outstanding at January 31, 2026		159,912		$	52.48
Exercised		(59,509	)		42.79		$	1,317
Outstanding at July 31, 2026		100,403			58.23					2.34	$	3,015
Exercisable at July 31, 2026		100,403		$	58.23					2.34	$	3,015

The intrinsic value of options outstanding and exercisable is calculated based on the difference between the fair market value of the Company’s ordinary shares on the reporting date and the exercise price. The closing price of the Company’s ordinary shares on July 31, 2026 was $86.00, as reported by The Nasdaq Global Select Market. The intrinsic value of exercised options is calculated based on the difference between the fair market value of the Company’s ordinary shares on the exercise date and the exercise price.

The following table summarizes restricted stock unit activities for the period indicated:


				Weighted-
				Average
				Grant-Date
	Shares			Fair Value
Unvested at January 31, 2026		2,621,997		$	71.46
Granted		1,084,210			67.43
Vested		(736,997	)		70.17
Forfeited		(105,365	)		68.95
Unvested at July 31, 2026		2,863,845		$	70.36

As of July 31, 2026, the aggregate intrinsic value of unvested restricted stock units was $246.3 million.