Equity Incentive Plans and Stock-Based Compensation (Tables)

6 Months Ended

Jul. 31, 2026

Stock option activity during the six months ended July 31, 2026 was as follows:


	Stock Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of January 31, 2026	6,790	$	0.57	7.5	$	81,589
Granted	1,893	$	0.10
Exercised	(1,945)	$	0.36
Forfeited	(178)	$	0.12
Outstanding as of July 31, 2026	6,560	$	0.51	7.9	$	80,328

Vested and exercisable as of July 31, 2026	2,114	$	1.39	5.6	$	24,044

RSU activity during the six months ended July 31, 2026 was as follows:


	RSUs (in thousands)	Weighted-Average Grant Date Fair Value Per Share
Unvested as of January 31, 2026	19,898	$	13.56
Granted	9,803	$	11.89
Vested	(5,365)	$	14.19
Forfeited	(3,380)	$	13.45
Unvested as of July 31, 2026	20,956	$	12.64

Stock-based compensation expense is classified in the condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025
Cost of subscription services revenue	$	1,663	$	3,682	$	3,931	$	7,556
Cost of professional services and other revenue	1,498		2,358		3,281		5,086
Sales and marketing	13,895		23,402		30,677		46,988
Research and development	21,027		36,087		45,768		70,682
General and administrative	6,879		12,477		14,615		24,055
Total	$	44,962	$	78,006	$	98,272	$	154,367