XML 38 R27.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation (Tables)

9 Months Ended

Jan. 31, 2023

Share-Based Payment Arrangement [Abstract]

A summary of the Company’s option activity during the nine months ended January 31, 2023 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	511	13.74
Options exercised	(758)	15.39
Options cancelled	(513)	12.95
Balance as of January 31, 2023	35,578	$	12.64	6.68	$	256,517
Vested and exercisable as of January 31, 2023	20,944	$	8.44	6.05	$	238,967
Vested and expected to vest as of January 31, 2023(1)	35,774	$	12.64	6.68	$	257,927

__________________

(1) The number of options vested and expected to vest as of January 31, 2023 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:


	Nine Months Ended January 31,
	2023		2022
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	46.2	%	43.5	%
Expected term (years)	6.5		6.5
Risk-free interest rate	3.8	%	1.4	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the nine months ended January 31, 2023 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	16,016	15.72
RSUs vested	(5,373)	29.08
RSUs forfeited	(2,833)	33.88
Unvested Balance as of January 31, 2023	19,919	$	21.89

Schedule of Valuation Assumptions

The following assumptions were used to calculate the fair value of shares to be granted under the 2020 ESPP during the period:


	Nine Months Ended January 31,
	2023
Valuation assumptions:
Expected dividend yield	—	%
Expected volatility	47.8 - 61.4%
Expected term (years)	0.4 - 1.9
Risk-free interest rate	4.3 - 4.5%

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,
	2023		2022		2023		2022
Cost of subscription	$	5,996	$	2,639	$	15,754	$	5,824
Cost of professional services	361		704		1,911		1,991
Sales and marketing	18,316		8,850		54,175		28,540
Research and development	23,646		12,846		72,768		25,860
General and administrative	7,512		6,322		23,866		15,598
Total stock-based compensation expense	$	55,831	$	31,361	$	168,474	$	77,813