v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
The following table is a summary of stock option activity for the fiscal year ended January 31, 2025:
Number of
Shares		Weighted-
Average
Exercise Price
Per Share
(in thousands)
Options outstanding at January 31, 20241,754 $9.37 
Granted30 $18.06 
Exercised(514)$7.75 
Canceled(19)$12.69 
Options outstanding at January 31, 20251,251 $10.23 
Options vested and expected to vest at January 31, 20251,251 $10.23 
Options exercisable at January 31, 20251,217 $9.93 
Share-based Payment Arrangement, Restricted Stock Unit, Performance Stock Unit, and Special Performance Stock Unit Award, Activity
The following table is a summary of RSUs, PSUs, and the Special PSU Awards activities for the fiscal year ended January 31, 2025:
Number of
Shares		Weighted-Average
Grant Date
Fair Value
Per Share
(in thousands)
RSUs and PSUs outstanding at January 31, 202410,968 $167.84 
Granted5,122 $306.50 
Released(4,552)$171.25 
Performance adjustment (1)
245 $132.83 
Forfeited(759)$205.25 
RSUs and PSUs outstanding at January 31, 202511,024 $227.55 
RSUs and PSUs expected to vest at January 31, 2025(2)
10,454 $228.49 
(1)    The performance adjustment represents adjustments in shares outstanding due to the actual achievement of performance-based awards, the achievement of which was based upon pre-defined financial performance targets.
(2)    Excludes in progress PSUs and Special PSUs where pre-defined targets have not yet been achieved.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine the fair value of employee stock purchase rights granted under the Company’s ESPP:
Year Ended January 31,
202520242023
Expected term (in years)
0.5 – 2.0
0.5 – 2.0
0.5 – 2.0
Risk-free interest rate
3.4% – 5.3%
0.2% – 5.3%
0.1% – 4.7%
Expected stock price volatility
40.8% – 59.8%
40.8% – 61.2%
39.6% – 67.4%
Dividend yield— %— %— %
Share-based Payment Arrangement, Expensed and Capitalized, Amount
Stock-based compensation expense included in the consolidated statements of operations is as follows (in thousands):
 Year Ended January 31,
 202520242023
Subscription cost of revenue$73,592 $43,886 $32,091 
Professional services cost of revenue31,126 22,302 15,692 
Sales and marketing235,499 175,808 151,919 
Research and development337,620 205,896 174,711 
General and administrative187,584 183,627 152,091 
Total stock-based compensation expense$865,421 $631,519 $526,504