Stock-Based Compensation (Tables)

12 Months Ended

Apr. 30, 2022

Share-based Payment Arrangement [Abstract]

A summary of the Company’s option activity during the periods indicated was 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, 2020	32,877	$	3.48	8.03	$	116,962
Options granted	14,504	11.50
Options exercised	(5,799)	2.90
Options cancelled	(3,095)	5.89
Balance as of April 30, 2021	38,487	6.39		7.98	$	2,304,714
Options granted	6,327	45.41
Options exercised	(4,651)	4.61
Options cancelled	(3,825)	15.29
Balance as of April 30, 2022	36,338	$	12.44	7.34	$	165,436
Vested and exercisable as of April 30, 2022	16,300	$	5.63	6.39	$	185,103
Vested and expected to vest as of April 30, 2022(1)	36,712	$	12.44	7.34	$	167,138

(1) The number of options vested and expected to vest as of April 30, 2022 includes early exercised, unvested Class A common stock. Refer to Note 9. Stockholders’ Equity for more information.

Schedule of Valuation Assumptions

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


	Fiscal Year Ended April 30,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	44.1	%	43.8	%
Expected term (years)	6.4		6.3
Risk-free interest rate	1.1	%	0.4	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activities and related information is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2020	—	$	—
RSUs granted	447	74.52
Unvested Balance as of April 30, 2021	447	74.52
RSUs granted	13,750	37.49
RSUs vested	(264)	52.53
RSUs forfeited	(1,824)	54.06
Unvested Balance as of April 30, 2022	12,109	$	36.04

Summary of Effects of Stock-Based Compensation

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


	Fiscal Year Ended April 30,
	2022		2021		2020
Cost of subscription	$	8,638	$	828	$	370
Cost of professional services	2,710		376		122
Sales and marketing	40,344		9,080		3,074
Research and development	39,200		2,950		1,223
General and administrative	22,549		8,506		3,521
Total stock-based compensation expense	$	113,441	$	21,740	$	8,310