Equity-Based Compensation - (Tables)

9 Months Ended

Jan. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of stock option activity

The following table presents stock option activity for the nine months ended January 31, 2023:

	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
	(shares and dollars in thousands)
Outstanding as of April 30, 2022	1,245	$	25.65	6.4	$	28,121
Options granted	184	53.60
Options exercised	(195)	16.27
Options forfeited	(2)	32.76
Outstanding as of January 31, 2023	1,232	$	31.31	6.6	$	34,511
Exercisable as of January 31, 2023	815	$	24.18	5.6	$	28,635
Vested and Expected to vest as of January 31, 2023	1,230	$	31.29	6.6	$	34,486

Schedule of weighted average assumptions used in Black-Scholes option-pricing model

The fair value of stock options granted during the nine months ended January 31, 2023 and 2022 was estimated using the Black-Scholes option-pricing model with the following assumptions and resulting weighted average grant date fair value:

	Nine Months Ended January 31,
	2023			2022
Volatility	45.80		%	43.13		%
Expected life (years)	6.0			6.0
Risk-free interest rate	2.67		%	0.89		%
Dividend yield	—		%	—		%
Grant date fair value	$	25.26		$	20.86

Summary of restricted stock unit activity

The following table presents restricted stock unit activity for the nine months ended January 31, 2023:

	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
	(shares in thousands)
Outstanding as of April 30, 2022	330	$	35.83
Granted	201	53.72
Vested	(171)	33.20
Forfeited	(1)	44.04
Outstanding as of January 31, 2023	359	$	47.04

Schedule of ESPP activity

The following table presents the number of shares of the Company’s common stock purchased under the ESPP and average price per share:

	Nine Months Ended January 31,
	2023		2022
	(shares in thousands)
Number of shares purchased under the ESPP	79		70
Average purchase price	$	40.47	$	33.19