Stock-Based Compensation (Tables)
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6 Months Ended |
Jul. 31, 2025 |
Share-Based Payment Arrangement [Abstract] |
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Schedule of Stock Option Activity |
A summary of the Company’s stock option activity for the six months ended July 31, 2025 is as follows:
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Number of Stock Options |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contractual Life |
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(in thousands) |
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(in years) |
Outstanding as of January 31, 2025 |
18,572 |
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$ |
6.60 |
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4.7 |
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Exercised |
(2,753) |
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4.70 |
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Forfeited |
(1,060) |
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10.97 |
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Expired |
(2) |
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1.71 |
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Outstanding as of July 31, 2025 |
14,757 |
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$ |
6.64 |
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4.6 |
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Exercisable as of July 31, 2025 |
14,067 |
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$ |
6.35 |
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4.4 |
Vested and expected to vest as of July 31, 2025 |
14,751 |
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$ |
6.64 |
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4.6 |
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Schedule of RSU Award Activity |
A summary of the Company’s RSU activity for the six months ended July 31, 2025 is as follows:
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Number of Restricted Stock Units |
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Weighted Average Grant Date Fair Value |
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(in thousands) |
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Outstanding as of January 31, 2025 |
14,750 |
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$ |
10.46 |
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Granted |
11,408 |
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8.92 |
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Released |
(2,989) |
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11.72 |
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Cancelled/forfeited |
(2,509) |
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11.19 |
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Outstanding as of July 31, 2025 |
20,660 |
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$ |
9.34 |
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Schedule of Performance Based Stock Units |
A summary of the Company’s PSU activity for the six months ended July 31, 2025 is as follows:
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Number of Performance Stock Units |
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Weighted Average Grant Date Fair Value |
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(in thousands) |
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Outstanding as of January 31, 2025 |
2,918 |
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$ |
8.31 |
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Granted |
810 |
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12.91 |
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Cancelled/forfeited |
(280) |
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8.06 |
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Outstanding as of July 31, 2025 |
3,448 |
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$ |
9.41 |
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Schedule of Fair Value of PSUs Granted |
To determine the fair value of the 2024 and 2025 PSUs, the Company utilized a Monte Carlo simulation. The inputs included in the valuations were as follows:
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Vest-term |
Three years |
Volatility |
48.8% - 53.7% |
Risk-free rate |
3.91% - 4.22% |
Fair value of common stock at grant date |
$8.21 - $9.14 |
Dividend yield |
0% |
Expected term |
Three years |
Fair value valuation |
$11.82 - $14.84 |
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Schedule of Stock-based Compensation Expense |
Stock-based compensation expense included in operating results was allocated as follows:
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Three Months Ended July 31, |
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Six Months Ended July 31, |
(in thousands) |
2025 |
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2024 |
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2025 |
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2024 |
Costs of subscription |
$ |
223 |
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$ |
327 |
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$ |
488 |
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$ |
610 |
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Costs of professional services |
726 |
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364 |
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1,118 |
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681 |
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Research and development |
4,204 |
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2,834 |
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8,090 |
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5,408 |
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Sales and marketing |
6,124 |
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5,802 |
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12,419 |
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11,406 |
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General and administrative |
10,027 |
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5,765 |
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19,603 |
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10,842 |
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Restructuring |
— |
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— |
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866 |
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— |
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Stock-based compensation, net of amounts capitalized |
21,304 |
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15,092 |
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42,584 |
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28,947 |
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Capitalized stock-based compensation |
388 |
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631 |
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1,305 |
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1,182 |
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Total stock-based compensation |
$ |
21,692 |
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$ |
15,723 |
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$ |
43,889 |
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$ |
30,129 |
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