Stockholders' Equity (Tables)

9 Months Ended

Oct. 31, 2022

Share-Based Payment Arrangement [Abstract]

A summary of stock option activity for the nine months ended October 31, 2022 is as follows:


	Number of shares	Weighted average exercise price		Weighted average remaining contractual term (in years)	Aggregate intrinsic value (in millions)
Options outstanding at January 31, 2022	12,090,522	$	77.89	4.6	$	1,964
Options granted	3,178,165	206.35
Options exercised	(978,792)	30.59
Options forfeited/cancelled	(362,182)	208.90
Options outstanding at October 31, 2022	13,927,713	$	107.17	5.2	$	1,084
Options vested and exercisable at October 31, 2022	7,527,009	$	50.78	2.8	$	913
Options vested and exercisable at October 31, 2022 and expected to vest thereafter	13,927,713	$	107.17	5.2	$	1,084

Schedule of Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Options Granted

The following table presents the weighted-average assumptions used to estimate the grant date fair value of options granted during the periods presented:


	Three months ended October 31,						Nine months ended October 31,
	2022			2021			2022					2021
Volatility	39%	-	40%	37%			37%		-	40%		37%		-	39%
Expected term (in years)	6.25			6.25			6		-	7		6.25
Risk-free interest rate	2.90%	-	4.20%	0.90%	-	1.30%	1.90	%	-	4.20	%	0.68	%	-	1.30	%
Dividend yield	—%			—%			—%					—%

Summary of Restricted Stock Unit (RSU) Activity

A summary of restricted stock unit (RSU) activity for the nine months ended October 31, 2022 is as follows:


	Unreleased restricted stock units	Weighted average grant date fair value
Balance at January 31, 2022	619,388	$	175.23
RSUs granted	1,495,425	205.95
RSUs vested	(702,297)	197.62
RSUs forfeited/cancelled	(84,017)	199.28
Balance at October 31, 2022	1,328,499	196.43