Equity Plans and Stock-based Compensation (Tables)

6 Months Ended

12 Months Ended

Jul. 31, 2021

Jan. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of stock option awards

The Company’s stock option awards activity is set forth below:

	Number of Stock Option Awards			Weighted Average Exercise Price		Weighted Average Remaining Contractual term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of January 31, 2021		30,166,792		$	0.71		7.3	$	1,064,539
Options exercised		(3,292,219	)	$	0.53
Options forfeited		(452,893	)	$	0.73
Options expired		(19,963	)	$	53.22
Outstanding as of July 31, 2021		26,401,717		$	0.69		7.0	$	606,280
Options vested and expected to vest as of July 31, 2021		25,667,621		$	0.69		7.0	$	589,470
Exercisable as of July 31, 2021		16,457,228		$	0.66		6.3	$	378,402

Activity under the Company’s stock option plans is set forth below:

	Number of Stock Option Awards			Weighted Average Exercise Price		Weighted Average Remaining Contractual term (in years)		Aggregate Intrinsic Value
Outstanding as of January 31, 2018		28,955,341		$	0.59		7.7	$	8,905,754
Granted		8,811,605		$	0.57
Exercised		(3,853,935	)	$	0.35			$	(1,364,006	)
Cancelled		(2,250,990	)	$	0.75
Outstanding as of January 31, 2019		31,662,021		$	0.6		7.4	$	7,456,493
Granted		10,780,372		$	0.75
Exercised		(4,830,469	)	$	0.47			$	(3,464,262	)
Cancelled		(2,728,460	)	$	0.83
Outstanding as of January 31, 2020		34,883,464		$	0.65		7.3	$	19,314,017
Granted		8,912,180		$	0.75
Exercised		(11,042,592	)	$	0.55			$	(110,643,446	)
Cancelled		(2,585,875	)	$	0.84
Outstanding as of January 31, 2021		30,167,177		$	0.7		7.3	$	1,064,538,557
Options vested and expected to vest as of January 31, 2021		27,483,800		$	0.69		7.2	$	969,997,293
Exercisable as of January 31, 2021		16,591,050		$	0.68		6.4	$	586,047,442

Summary of Stock Based Compensation Expense

The following sets forth the total stock-based compensation expense for the Company’s stock options (including the CEO Award) and RSU included in the Company’s condensed consolidated statements of operations:

	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Cost of revenue	$	2,164	$	41	$	2,188	$	64
Research and development		13,682		454		14,357		757
Sales and marketing		4,169		356		4,767		655
General and administrative		8,278		339		14,558		624
Total stock-based compensation expense	$	28,293	$	1,190	$	35,870	$	2,100

The following sets forth the total stock-based compensation expense for the Company’s stock options and restricted common stock included in the Company’s consolidated statements of operations:

	Year Ended January 31,
	2021		2020		2019
	(in thousands)
Cost of revenue	$	115	$	39	$	28
Research and development		1,807		871		419
Sales and marketing		1,501		1,164		541
General and administrative		1,524		863		718
Total stock-based compensation expense	$	4,947	$	2,937	$	1,706

Summary of RSU activity

The Company’s RSU activity is set forth below:

	Number of Shares			Weighted Average Grant Date Fair Value per Share
Outstanding as of January 31, 2021		—		$	—
RSU granted		4,680,439		$	27.38
RSU vested		(652,901	)	$	27.30
RSU forfeited		(10,389	)	$	27.30
Outstanding as of July 31, 2021		4,017,149		$	27.40

Summary of fair value measurement inputs and valuation techniques

The weighted-average assumptions in the Black-Scholes option-pricing models used to determine the fair value of stock options granted during the years ended January 31, 2021, 2020, and 2019 were as follows:

	Year Ended January 31,
	2021			2020			2019
Expected volatility		49.1% – 51.6	%		40.3% – 40.9	%		40.9% – 41.6	%
Risk-free interest rate		0.3% – 1.6	%		1.4% – 2.4	%		2.7% – 2.9	%
Dividend rate		0.0	%		0.0	%		0.0	%
Expected term (in years)		5.6 – 5.8			5.0 – 5.9			6.1 – 6.4