Stockholders' Equity (Tables)

9 Months Ended

Oct. 31, 2023

Share-Based Payment Arrangement [Abstract]

A summary of stock option activity for the nine months ended October 31, 2023 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, 2023	11,503,409	$	128.62	5.9	$	705
Options granted	2,461,496	180.50
Options exercised	(2,170,451)	24.04
Options forfeited/cancelled	(460,783)	198.43
Options outstanding at October 31, 2023	11,333,671	$	157.07	6.9	$	527
Options vested and exercisable at October 31, 2023	4,805,463	$	124.41	5.4	$	375
Options vested and exercisable at October 31, 2023 and expected to vest thereafter	11,333,671	$	157.07	6.9	$	527

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,
	2023			2022			2023					2022
Volatility	41%			39%	-	40%	39%		-	41%		37%		-	40%
Expected term (in years)	6.25			6.25			6.25		-	7		6		-	7
Risk-free interest rate	4.44%	-	4.73%	2.90%	-	4.20%	3.34	%	-	4.73	%	1.90	%	-	4.20	%
Dividend yield	—%			—%			—%					—%

Schedule of Restricted Stock Unit (RSU) Activity

A summary of restricted stock unit (RSU) activity for the nine months ended October 31, 2023 is as follows:


	Unreleased restricted stock units	Weighted average grant date fair value
Balance at January 31, 2023	1,103,679	$	194.36
RSUs granted	1,155,687	180.69
RSUs vested	(852,037)	184.02
RSUs forfeited/cancelled	(106,600)	183.68
Balance at October 31, 2023	1,300,729	189.86