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Stock-Based Compensation (Tables)

3 Months Ended

Jul. 31, 2021

Share-based Payment Arrangement [Abstract]

A summary of the Company’s option activity during the three months ended July 31, 2021 is as follows:


	Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
	(in thousands)				(in thousands)
Balance as of April 30, 2021	38,487	$	6.39	7.98	$	2,304,714
Options granted	2,159	59.28
Options exercised	(1,693)	2.99
Options cancelled	(331)	10.81
Balance as of July 31, 2021	38,622	$	9.46	7.90	$	1,579,329
Vested and exercisable as of July 31, 2021	13,634	$	3.71	6.75	$	635,917
Vested and expected to vest as of July 31, 2021(1)	39,460	$	9.36	7.90	$	1,617,305

(1) The number of options vested and expected to vest as of July 31, 2021 includes early exercised, unvested Class A common stock. Refer to Note 8. Stockholders’ Equity for more information.

Schedule of Valuation Assumptions

The weighted average assumptions underlying the fair value estimation are provided in the following table:


	Three Months Ended July 31,
	2021		2020
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	44.5	%	42.6	%
Expected term (years)	6.3		6.2
Risk-free interest rate	0.8	%	0.4	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the three months ended July 31, 2021 is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2021	447	$	74.52
RSUs granted	3,537	60.69
RSUs vested	(8)	74.52
RSUs forfeited	(78)	66.98
Unvested Balance as of July 31, 2021	3,898	$	62.12

Summary of Effects of Stock-Based Compensation

The following table summarizes the effects of stock-based compensation on the Company’s condensed consolidated statements of operations (in thousands):


	Three Months Ended July 31,
	2021		2020
Cost of subscription	$	821	$	184
Cost of professional services	602		48
Sales and marketing	6,135		855
Research and development	2,758		458
General and administrative	3,596		935
Total stock-based compensation expense	$	13,912	$	2,480