XML 42 R27.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation (Tables)

6 Months Ended

Oct. 31, 2021

Share-based Payment Arrangement [Abstract]

A summary of the Company’s option activity during the six months ended October 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	3,412	55.82
Options exercised	(2,735)	4.22
Options cancelled	(1,960)	10.48
Balance as of October 31, 2021	37,204	$	10.86	7.60	$	1,274,594
Vested and exercisable as of October 31, 2021	14,843	$	4.48	6.43	$	603,201
Vested and expected to vest as of October 31, 2021(1)	37,825	$	10.86	7.60	$	1,295,871

(1) The number of options vested and expected to vest as of October 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:


	Six Months Ended October 31,
	2021		2020
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	43.9	%	43.7	%
Expected term (years)	6.5		6.3
Risk-free interest rate	1.0	%	0.4	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the six months ended October 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	6,080	54.32
RSUs vested	(37)	70.07
RSUs forfeited	(448)	58.15
Unvested Balance as of October 31, 2021	6,042	$	55.43

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 October 31,				Six Months Ended October 31,
	2021		2020		2021		2020
Cost of subscription	$	2,364	$	159	$	3,185	$	343
Cost of professional services	685		89		1,287		137
Sales and marketing	13,555		2,190		19,690		3,045
Research and development	10,256		648		13,014		1,106
General and administrative	5,680		2,115		9,276		3,050
Total stock-based compensation expense	$	32,540	$	5,201	$	46,452	$	7,681