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Stock-Based Compensation (Tables)
 9 Months Ended
Jan. 31, 2024
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, 2024 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, 202334,696 $12.75 6.45$175,907 
Options granted829 30.11 
Options exercised(2,535)34.48 
Options cancelled(953)10.74 
Balance as of January 31, 202432,037 $13.91 5.90$348,241 
Vested and exercisable as of January 31, 202423,395 $10.30 5.42$338,766 
Vested and expected to vest as of January 31, 2024(1)
32,103 $13.91 5.90$348,956 
__________________
(1)     The number of options vested and expected to vest as of January 31, 2024 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,
20242023
Valuation assumptions:
Expected dividend yield— %— %
Expected volatility63.5 %46.2 %
Expected term (years)6.06.5
Risk-free interest rate3.9 %3.8 %
Schedule of Restricted Stock Unit Activity
A summary of the Company’s RSU activity during the nine months ended January 31, 2024 is as follows:
RSUs Outstanding
Number of RSUsWeighted Average
Grant Date Fair Value
Per Share
(in thousands)
Unvested Balance as of April 30, 202321,146 $21.32 
RSUs granted7,974 33.67 
RSUs vested(5,004)25.27 
RSUs forfeited(3,208)25.72 
Unvested Balance as of January 31, 202420,908 $24.83 
Schedule of Valuation Assumptions, ESPP
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,
20242023
Valuation assumptions:
Expected dividend yield— %— %
Expected volatility
64.0 - 70.1%
47.8 - 61.4%
Expected term (years)
0.5 - 2.0
0.4 - 1.9
Risk-free interest rate
5.0 - 5.5%
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,
2024202320242023
Cost of subscription$8,674 $5,996 $25,244 $15,754 
Cost of professional services309 361 1,248 1,911 
Sales and marketing17,528 18,316 52,533 54,175 
Research and development18,757 23,646 52,475 72,768 
General and administrative9,715 7,512 27,532 23,866 
Total stock-based compensation expense$54,983 $55,831 $159,032 $168,474