v3.20.1

Stock-based compensation (Tables)

12 Months Ended

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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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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.

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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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