v3.21.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jul. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of assumptions used to estimate fair value on date of grant The fair value of each option was estimated on the date of grant using the following assumptions during the period:
Six Months Ended July 31,
20212020
Expected term (in years)
3.8 - 5.6
6.05
Risk-free interest rate
0.6% - 1.0%
0.4 %
Expected stock price volatility
36.1% - 37.1%
36.0 %
Dividend yield— %— %
The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine fair value of the Company’s common shares to be issued under the ESPP for the offering periods beginning in June 2019:
Six Months Ended July 31,
20212020
Expected term (in years)
0.5 - 2.0
0.5 - 2.0
Risk-free interest rate
0.0% - 1.9%
0.2% - 2.0%
Expected stock price volatility
33.0% - 55.9%
30.1% - 54.3%
Dividend yield— %— %
Schedule of stock option activity The following table is a summary of stock option activity for the six months ended July 31, 2021:
Number of
Shares		Weighted-Average
Exercise Price
Per Share
(in thousands)
Options outstanding at January 31, 20216,646 $8.24 
Granted93 $3.19 
Exercised(1,761)$5.80 
Canceled(111)$10.01 
Options outstanding at July 31, 20214,867 $8.99 
Options vested and expected to vest at July 31, 20214,867 $8.99 
Options exercisable at July 31, 20212,811 $6.19 
Schedule of restricted stock units
The following table is a summary of RSU and PSU activities for the six months ended July 31, 2021:
Number of
Shares		Weighted-
Average Grant
Date Fair Value
Per Share
(in thousands)
RSUs and PSUs outstanding at January 31, 20218,449 $59.27 
Granted1,554 $205.49 
Vested(1,921)$55.41 
Performance adjustment (1)
153 $58.15 
Forfeited(216)$92.80 
RSUs and PSUs outstanding at July 31, 2021
8,019 $87.60 
RSUs and PSUs expected to vest at July 31, 20218,019 $87.60 
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(1)Performance adjustment represents adjustments in shares outstanding due to the actual achievement of performance based awards, the achievement of which was based upon predefined financial performance targets.
Schedule of stock-based compensation expense Stock-based compensation expense included in the condensed consolidated statements of operations is as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2021202020212020
Subscription cost of revenue$5,294 $2,635 $9,579 $4,630 
Professional services cost of revenue2,389 1,425 4,417 2,396 
Sales and marketing25,265 13,603 42,679 22,290 
Research and development25,808 9,029 43,609 13,929 
General and administrative17,531 11,021 30,365 18,106 
Total stock-based compensation expense$76,287 $37,713 $130,649 $61,351