Stock-Based Compensation (Tables)

3 Months Ended

Jul. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the Company’s option activity during the three months ended July 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, 2022	36,338	$	12.44	7.34	$	165,436
Options granted	40	16.74
Options exercised	(287)	18.88
Options cancelled	(222)	13.47
Balance as of July 31, 2022	35,869	$	12.50	7.12	$	211,987
Vested and exercisable as of July 31, 2022	17,698	$	6.62	6.27	$	208,655
Vested and expected to vest as of July 31, 2022(1)	36,169	$	12.50	7.12	$	213,761

(1) The number of options vested and expected to vest as of July 31, 2022 includes early exercised, unvested Class A common stock. Refer to Note 7. 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 July 31,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	45.0	%	44.5	%
Expected term (years)	6.5		6.3
Risk-free interest rate	2.9	%	0.8	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the three months ended July 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, 2022	12,109	$	36.04
RSUs granted	8,969	17.84
RSUs vested	(1,841)	30.59
RSUs forfeited	(1,630)	36.11
Unvested Balance as of July 31, 2022	17,607	$	27.29

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,
	2022		2021
Cost of subscription	$	4,272	$	821
Cost of professional services	1,071		602
Sales and marketing	16,779		6,135
Research and development	25,217		2,758
General and administrative	9,291		3,596
Total stock-based compensation expense	$	56,630	$	13,912