Stock-Based Compensation (Tables)

9 Months Ended

Jan. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the Company’s option activity during the nine months ended January 31, 2022 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	6,127	46.23
Options exercised	(4,174)	4.76
Options cancelled	(3,290)	13.71
Balance as of January 31, 2022	37,150	$	12.47	7.59	$	515,266
Vested and exercisable as of January 31, 2022	15,195	$	5.10	6.50	$	322,749
Vested and expected to vest as of January 31, 2022(1)	37,629	$	12.47	7.59	$	521,914

(1) The number of options vested and expected to vest as of January 31, 2022 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:

	As of January 31,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	43.5	%	43.8	%
Expected term (years)	6.5		6.3
Risk-free interest rate	1.4	%	0.4	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the nine months ended January 31, 2022 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	7,829	49.60
RSUs vested	(54)	66.24
RSUs forfeited	(1,297)	58.77
Unvested Balance as of January 31, 2022	6,925	$	49.36

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 January 31,				Nine Months Ended January 31,
	2022		2021		2022		2021
Cost of subscription	$	2,639	$	214	$	5,824	$	557
Cost of professional services	704		164		1,991		301
Sales and marketing	8,850		2,790		28,540		5,835
Research and development	12,846		846		25,860		1,952
General and administrative	6,322		2,575		15,598		5,625
Total stock-based compensation expense	$	31,361	$	6,589	$	77,813	$	14,270