v3.26.1
Equity-Based Compensation (Tables)
 6 Months Ended
Jul. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Equity-based Compensation Expense
A summary of the Company’s equity-based compensation expense by award type is presented below (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Incentive equity units$— $— $— $62,358 
Equity appreciation rights— — — 13,307 
Restricted stock awards744 2,884 2,084 7,836 
Restricted stock units67,265 46,035 136,181 84,552 
Employee stock purchase plan1,802 — 2,146 — 
Cash-settled awards— 65 16 41,636 
Total equity-based compensation expense$69,811 $48,984 $140,427 $209,689 
A summary of the Company’s equity-based compensation expense as recognized in the condensed consolidated statements of operations is presented below (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Cost of revenue - subscription$4,115 $1,931 $8,726 $13,195 
Cost of revenue - services and other1,588 681 3,506 11,009 
Research and development15,822 7,512 31,297 35,351 
Sales and marketing22,944 18,203 45,413 71,706 
General and administrative23,852 20,091 48,500 77,616 
Total equity-based compensation expense, net of amounts capitalized$68,321 $48,418 $137,442 $208,877 
Capitalized equity-based compensation1,490 566 2,985 812 
Total equity-based compensation expense$69,811 $48,984 $140,427 $209,689 
Schedule of Company's Anti-dilutive Securities The following table summarizes the Company’s anti-dilutive securities (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Unvested shares - RSAs
222 769 222 769 
Unvested shares - RSUs28,748 17,303 28,748 17,303 
ESPP
936 — 936 — 
Total29,906 18,072 29,906 18,072 
Schedule of Valuation Assumptions for ESPP The following table summarizes the assumptions used in the Monte Carlo model to determine the grant-date fair value of employee stock purchase rights granted under the ESPP for the offering period with a grant date occurring during the six months ended July 31, 2026:
Six Months Ended July 31, 2026
Expected term (in years)0.49
Expected volatility65.00 %
Risk-free interest rate3.74 %
Expected dividend yield— %