Employee Benefits and Stock-based Compensation (Tables)
|
12 Months Ended |
Jan. 31, 2022 |
|---|
| Postemployment Benefits [Abstract] |
|
| Classification of Stock-based Compensation |
The following table presents the classification of stock-based compensation for the periods indicated:
|
|
|
Year Ended January 31, |
|
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
|
|
(in thousands) |
|
|
Stock-based compensation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
$ |
1,489 |
|
|
$ |
1,328 |
|
|
$ |
1,184 |
|
|
Research and development |
|
|
54,787 |
|
|
|
42,903 |
|
|
|
41,842 |
|
|
Selling, general and administrative |
|
|
31,525 |
|
|
|
25,903 |
|
|
|
23,845 |
|
|
Total stock-based compensation |
|
$ |
87,801 |
|
|
$ |
70,134 |
|
|
$ |
66,871 |
|
|
| Weighted-Average Assumptions Used to Estimate Fair Value |
The following table sets forth the weighted-average assumptions used to estimate the fair value of stock options and employee stock purchase plan awards for the periods indicated:
|
|
|
Year Ended January 31, |
|
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
Stock Options: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Volatility |
|
|
51 |
% |
|
|
52 |
% |
|
|
52 |
% |
|
Risk-free interest rate |
|
|
1.04 |
% |
|
|
0.52 |
% |
|
|
1.82 |
% |
|
Expected term (years) |
|
|
5.06 |
|
|
|
5.78 |
|
|
|
6.01 |
|
|
Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
|
|
0 |
% |
|
Employee stock purchase plan awards: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Volatility |
|
|
57 |
% |
|
|
59 |
% |
|
|
47 |
% |
|
Risk-free interest rate |
|
|
0.06 |
% |
|
|
0.21 |
% |
|
|
2.23 |
% |
|
Expected term (years) |
|
|
0.5 |
|
|
|
0.5 |
|
|
|
0.5 |
|
|
Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
|
|
0 |
% |
|
| Stock Option Activities |
The following table summarizes stock option activities for the periods indicated:
|
|
|
Option Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Intrinsic |
|
|
Average |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
Weighted- |
|
|
Value of |
|
|
Remaining |
|
|
Aggregate |
|
|
|
|
|
|
|
|
Weighted- |
|
|
Average |
|
|
Average |
|
|
options |
|
|
Contractual |
|
|
Intrinsic |
|
|
|
|
|
|
|
|
Average |
|
|
Grant-date |
|
|
Acquisition-date |
|
|
Exercised |
|
|
Term |
|
|
Value |
|
|
|
|
Shares |
|
|
Exercise Price |
|
|
Fair Value |
|
|
Fair Value |
|
|
(in thousands) |
|
|
(in years) |
|
|
(in thousands) |
|
|
Outstanding at January 31, 2019 |
|
|
1,459,064 |
|
|
$ |
28.31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
66,850 |
|
|
|
50.56 |
|
|
$ |
25.35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercised |
|
|
(366,886 |
) |
|
|
15.52 |
|
|
|
|
|
|
|
|
|
|
$ |
13,263 |
|
|
|
|
|
|
|
|
|
|
Forfeited |
|
|
(14,931 |
) |
|
|
46.29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expired |
|
|
(19,451 |
) |
|
|
64.53 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at January 31, 2020 |
|
|
1,124,646 |
|
|
|
32.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
51,200 |
|
|
|
59.54 |
|
|
$ |
28.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercised |
|
|
(421,736 |
) |
|
|
24.52 |
|
|
|
|
|
|
|
|
|
|
$ |
19,401 |
|
|
|
|
|
|
|
|
|
|
Forfeited |
|
|
(11,618 |
) |
|
|
46.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expired |
|
|
(23,349 |
) |
|
|
70.11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at January 31, 2021 |
|
|
719,143 |
|
|
|
38.33 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
14,700 |
|
|
|
110.19 |
|
|
$ |
50.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed |
|
|
163,581 |
|
|
|
23.10 |
|
|
|
|
|
|
$ |
173.04 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercised |
|
|
(269,287 |
) |
|
|
28.23 |
|
|
|
|
|
|
|
|
|
|
$ |
25,622 |
|
|
|
|
|
|
|
|
|
|
Forfeited |
|
|
(7,669 |
) |
|
|
68.95 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expired |
|
|
(1,146 |
) |
|
|
9.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at January 31, 2022 |
|
|
619,322 |
|
|
$ |
40.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.25 |
|
|
$ |
61,975 |
|
|
Exercisable at January 31, 2022 |
|
|
399,764 |
|
|
$ |
42.40 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.92 |
|
|
$ |
39,076 |
|
|
| Restricted Stock and Restricted Stock Units Activities |
The following table summarizes restricted stock and restricted stock units activities for the periods indicated:
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
Average |
|
|
|
|
|
|
|
|
Grant-Date |
|
|
|
|
Shares |
|
|
Fair Value |
|
|
Unvested at January 31, 2019 |
|
|
2,395,516 |
|
|
$ |
48.49 |
|
|
Granted |
|
|
1,329,288 |
|
|
|
54.54 |
|
|
Vested |
|
|
(1,012,581 |
) |
|
|
51.24 |
|
|
Forfeited |
|
|
(94,957 |
) |
|
|
54.26 |
|
|
Unvested at January 31, 2020 |
|
|
2,617,266 |
|
|
|
50.30 |
|
|
Granted |
|
|
1,499,203 |
|
|
|
53.45 |
|
|
Vested |
|
|
(1,162,883 |
) |
|
|
50.53 |
|
|
Forfeited |
|
|
(81,785 |
) |
|
|
54.48 |
|
|
Unvested at January 31, 2021 |
|
|
2,871,801 |
|
|
|
51.73 |
|
|
Granted |
|
|
1,213,257 |
|
|
|
128.80 |
|
|
Vested |
|
|
(1,367,309 |
) |
|
|
53.85 |
|
|
Forfeited |
|
|
(66,614 |
) |
|
|
71.59 |
|
|
Unvested at January 31, 2022 |
|
|
2,651,135 |
|
|
$ |
85.41 |
|
|