v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table is a summary of stock option activity for the fiscal year ended January 31, 2026:
Number of
Shares		Weighted-
Average
Exercise Price
Per Share
(in thousands)
Options outstanding at January 31, 20251,251 $10.23 
Granted44 $44.95 
Exercised(359)$8.79 
Canceled(4)$22.02 
Options outstanding at January 31, 2026932 $12.38 
Options vested and expected to vest at January 31, 2026932 $12.38 
Options exercisable at January 31, 2026885 $10.94 
Schedule of RSU Activity
The following table is a summary of RSUs, PSUs, and the Special PSU Awards activities for the fiscal year ended January 31, 2026:
Number of
Shares		Weighted-Average
Grant Date
Fair Value
Per Share
(in thousands)
RSUs and PSUs outstanding at January 31, 202511,024 $227.55 
Granted2,479 $451.58 
Released(4,646)$222.71 
Performance adjustment(1)
(55)$296.43 
Forfeited(950)$252.76 
RSUs and PSUs outstanding at January 31, 20267,852 $297.62 
RSUs and PSUs expected to vest at January 31, 2026(2)
7,512 $284.50 
(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 the 2026 Special PSU Award where pre-defined targets have not yet been achieved.
Schedule of Valuation Assumption of Options
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,
202620252024
Expected term (in years)
0.5 – 2.0
0.5 – 2.0
0.5 – 2.0
Risk-free interest rate
3.5% – 5.2%
3.4% – 5.3%
0.2% – 5.3%
Expected stock price volatility
41.0% – 59.8%
40.8% – 59.8%
40.8% – 61.2%
Dividend yield— %— %— %
Schedule of Expense
Stock-based compensation expense included in the consolidated statements of operations is as follows (in thousands):
 Year Ended January 31,
 202620252024
Subscription cost of revenue$92,237 $72,661 $45,884 
Professional services cost of revenue37,869 30,748 23,509 
Sales and marketing287,023 235,144 175,516 
Research and development439,088 336,306 217,719 
General and administrative241,451 186,532 186,037 
Total stock-based compensation expense$1,097,668 $861,391 $648,665