Stock-Based Compensation (Tables)
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9 Months Ended |
Oct. 31, 2025 |
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| 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 nine months ended October 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 |
(2,997) |
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4.63 |
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Forfeited |
(1,251) |
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10.89 |
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| Expired |
(6) |
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1.79 |
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Outstanding as of October 31, 2025 |
14,318 |
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$ |
6.63 |
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4.3 |
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Exercisable as of October 31, 2025 |
13,753 |
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$ |
6.39 |
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4.2 |
Vested and expected to vest as of October 31, 2025 |
14,317 |
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$ |
6.63 |
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4.3 |
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| Schedule of RSU Award Activity |
A summary of the Company’s RSU activity for the nine months ended October 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 |
13,147 |
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8.79 |
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| Released |
(4,577) |
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11.14 |
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Cancelled/forfeited |
(4,949) |
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10.38 |
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Outstanding as of October 31, 2025 |
18,371 |
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$ |
9.12 |
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| Schedule of Performance Based Stock Units |
A summary of the Company’s PSU activity for the nine months ended October 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 |
1,032 |
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12.37 |
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Cancelled/forfeited |
(380) |
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9.47 |
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Outstanding as of October 31, 2025 |
3,570 |
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$ |
9.36 |
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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 |
48.1% - 53.7% |
| Risk-free rate |
3.61% - 4.22% |
| Fair value of common stock at grant date |
$7.81 - $9.14 |
| Dividend yield |
0% |
| Expected term |
2 - 3 years |
| Fair value valuation |
$11.29 - $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 October 31, |
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Nine Months Ended October 31, |
| (in thousands) |
2025 |
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2024 |
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2025 |
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2024 |
| Costs of subscription |
$ |
312 |
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$ |
335 |
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$ |
800 |
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$ |
945 |
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| Costs of professional services |
844 |
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400 |
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1,962 |
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1,081 |
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| Research and development |
4,347 |
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2,896 |
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12,437 |
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8,304 |
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| Sales and marketing |
6,366 |
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5,091 |
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18,785 |
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16,497 |
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| General and administrative |
8,512 |
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6,508 |
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28,115 |
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17,350 |
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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 |
20,381 |
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15,230 |
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62,965 |
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44,177 |
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| Capitalized stock-based compensation |
731 |
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643 |
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2,036 |
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1,825 |
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| Total stock-based compensation |
$ |
21,112 |
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$ |
15,873 |
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$ |
65,001 |
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$ |
46,002 |
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