v3.20.1

Stock-based compensation (Tables) | 12 Months Ended
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Jan. 31, 2020
Share-based Payment Arrangement [Abstract] |
Summary of share based compensation recognized | The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income during the years presented:
|  | Year ended January 31, |  |  |  |
(in thousands) |  | 2020 |  | 2019 |  | 2018
Cost of revenue |  | $ | 4,792 |  |  |  | $ | 2,837 |  |  |  | $ | 2,594 |
Sales and marketing |  | 4,694 |  |  |  | 3,536 |  |  |  | 2,030 |
Technology and development |  | 7,649 |  |  |  | 5,117 |  |  |  | 3,318 |
General and administrative |  | 12,972 |  |  |  | 9,567 |  |  |  | 6,368 |
Merger integration |  | 1,603 |  |  | — |  |  | — |
Other expense, net |  | 13,714 |  |  | — |  |  | — |
Total stock-based compensation expense |  | $ | 45,424 |  |  |  | $ | 21,057 |  |  |  | $ | 14,310 |
The following table shows stock-based compensation by award type:
|  | Year ended January 31, |  |  |  |
(in thousands) |  | 2020 |  | 2019 |  | 2018
Stock options |  | $ | 6,612 |  |  | $ | 7,581 |  |  | $ | 7,826 |
Performance stock options |  | — |  |  | 681 |  |  |  | 1,378 |
Restricted stock units |  | 25,781 |  |  | 7,657 |  |  |  | 3,224 |
Performance restricted stock units |  | 4,862 |  |  | 2,419 |  |  |  | 1,882 |
Restricted stock awards |  | 655 |  |  | 570 |  |  |  | — |
Performance restricted stock awards |  | 1,934 |  |  | 2,149 |  |  |  | — |
Total non-cash stock-based compensation expense |  | 39,844 |  |  |  | 21,057 |  |  |  | 14,310 |
Acquisition awards exchanged for cash |  | 5,580 |  |  |  | — |  |  |  | — |
Total stock-based compensation expense |  | $ | 45,424 |  |  | $ | 21,057 |  |  |  | $ | 14,310 |
Summary of assumptions | The key input assumptions that were utilized in the valuation of the stock options granted during the years ended January 31, 2020, 2019 and 2018 are as follows:
|  | Year ended January 31, |  |  |  |
|  | 2020 |  | 2019 |  | 2018
Expected dividend yield |  | —% |  |  | —% |  |  | —% |
Expected stock price volatility |  | 35.98% - 36.53% |  | 36.53% - 37.84% |  | 37.79% - 38.01%
Risk-free interest rate |  | 2.21% - 2.43% |  | 2.52% - 2.79% |  | 1.18% - 2.07%
Expected life of options |  | 4.95 - 5.09 years |  | 5.17 - 6.25 years |  | 4.50 - 6.25 years
Summary of stock options | A summary of stock option activity is as follows:
|  | Outstanding stock options |  |  |  |  |  |  |  |
(in thousands, except for exercise prices and term) |  | Number of options |  | Range of exercise prices |  | Weighted- average exercise price |  | Weighted- average contractual term (in years) |  | Aggregate intrinsic value
Outstanding as of January 31, 2019 |  | 2,444 |  |  | $0.10 - 82.39 |  | $ | 27.37 |  |  | 6.74 |  | $ | 85,971 |
Granted |  | 108 |  |  | $63.64 - 73.61 |  | $ | 73.27 |  |  |  |  |
Exercised |  | (465) |  |  | $0.10 - 59.63 |  | $ | 24.58 |  |  |  |  |
Forfeited |  | (47) |  |  | $24.36 - 44.53 |  | $ | 31.09 |  |  |  |  |
Outstanding as of January 31, 2020 |  | 2,040 |  |  | $0.10 - 82.39 |  | $ | 30.35 |  |  | 5.90 |  | $ | 74,009 |
Vested and expected to vest as of January 31, 2020 |  | 2,040 |  |  |  |  | $ | 30.35 |  |  | 5.90 |  | $ | 74,009 |
Exercisable as of January 31, 2020 |  | 1,426 |  |  |  |  | $ | 23.53 |  |  | 5.30 |  | $ | 60,744 |
Summary of restricted stock activity | A summary of the RSU and RSA activity is as follows:
|  | RSUs and PRSUs |  |  |  | RSAs and PRSAs |  |
(in thousands, except weighted-average grant date fair value) |  | Shares |  | Weighted-average grant date fair value |  | Shares |  | Weighted-average grant date fair value
Outstanding as of January 31, 2019 |  | 647 |  |  | $ | 55.18 |  |  | 256 |  |  | $ | 61.93 |
Granted |  | 1,306 |  |  | 65.20 |  |  | — |  |  | — |
Vested |  | (387) |  |  | 58.40 |  |  | (11) |  |  | 62.75 |
Forfeited |  | (186) |  |  | 58.39 |  |  | (10) |  |  | 61.72 |
Outstanding as of January 31, 2020 |  | 1,380 |  |  | $ | 63.33 |  |  | 235 |  |  | $ | 61.91 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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