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Stock-Based Compensation Plans (Tables)

12 Months Ended

Jan. 31, 2023

Stock-Based Compensation Plans

Schedule of estimated stock-based compensation expense recognized in condensed consolidated statement of operations

​

​	​	​	​	​	​	​
​		January 31,		January 31,		January 31,
Year Ended	​	2023	​	2022	​	2021
Cost of revenues		940		732		319
Sales and marketing		2,468		3,060		896
Research and development		1,788		1,419		404
General and administrative		8,471		5,806		4,694
Effect on net income		13,667		11,017		6,313

​

Schedule of weighted-average assumptions

​

​	​	​	​	​	​	​
​		January 31,		January 31,		January 31,
Year Ended	​	2023	​	2022	​	2021
​	​	​	​	​	​	​
Expected dividend yield (%)		—		—	​	—
Expected volatility (%)		29.2		27.8	​	26.4
Risk-free rate (%)		2.4		0.7	​	0.7
Expected option life (years)		5		5	​	5

​

Schedule of stock option activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​			Weighted-		​
​	​	Number of	​	Weighted-		​	Average	​	Aggregate
​	​	Stock	​	Average		​	Remaining	​	Intrinsic
​	​	Options	​	Exercise		​	Contractual	​	Value
​	​	Outstanding	​	Price		​	Life (years)	​	(in millions)
Balance at January 31, 2021	​	1,147,720	​	$	33.77	​	4.9	​	$	28.1
Granted	​	271,025	​	$	65.03	​	​	​	​	​
Exercised	​	(90,166)	​	$	29.38	​	​	​	​	​
Forfeited	​	(9,300)	​	$	53.94	​	​	​	​	​
Balance at January 31, 2022		1,319,279	​	$	42.35		4.4	​	$	41.5
Granted		356,014	​	$	61.09			​
Exercised		(63,890)	​	$	27.34			​
Forfeited		(17,970)	​	$	52.98			​
Balance at January 31, 2023		1,593,433	​	$	45.54		4.1	​	$	45.7
​	​	​	​	​	​	​	​	​	​	​
Vested or expected to vest at January 31, 2023		1,593,433	​	$	45.54		4.1	​	$	45.7
​	​	​	​	​	​	​	​	​	​	​
Exercisable at January 31, 2023		1,104,612	​	$	40.35		3.5	​	$	37.4

​

Summary of performance share units activity

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​

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Options Outstanding

​

Options Exercisable

​

​

​

​

​

​

​

Weighted

​

​

​

​

​

​

Weighted

​

​

​

Average

​

Weighted

​

​

​

​

Average

​

Number of

​

Remaining

​

Average

​

Number of

​

​

Exercise

​

Stock

​

Contractual

​

Exercise

​

Stock

Range of Exercise Prices

Price

Options

Life (years)

Price

Options

$18.95 – $22.86

​

$

21.75

148,153

0.9

​

$

21.75

148,153

$26.24 – $27.85

​

$

27.85

166,350

2.2

​

$

27.85

166,350

$38.53 – $54.25

​

$

39.53

625,310

3.7

​

$

39.12

525,872

$56.31 – $68.49

​

$

61.19

653,620

5.7

​

$

61.11

264,237

​

​

$

45.54

1,593,433

4.1

​

$

40.35

1,104,612

​

Schedule of Non vested share activity

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​	​	​	​	​	​
​		​		Weighted-
​	​	​	​	Average
​	​	Number of	​	Grant-Date
​	​	Stock Options	​	Fair Value per
​	​	Outstanding	​	Share
Balance at January 31, 2021		501,655	​	$	9.52
Granted		271,025	​	$	16.77
Vested		(300,527)	​	$	11.42
Forfeited		(9,300)	​	$	13.54
Balance at January 31, 2022		462,853	​	$	13.16
Granted		356,014	​	$	18.47
Vested		(313,186)	​	$	13.72
Forfeited		(16,860)	​	$	3.71
Balance at January 31, 2023		488,821	​	$	16.11

​

Schedule of performance share units activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted-			Weighted-		​
​	​	​	​	Average		​	Average	​	Aggregate
​	​	Number of	​	Granted		​	Remaining	​	Intrinsic
​	​	PSUs	​	Date Fair		​	Contractual	​	Value
​	​	Outstanding	​	Value		​	Life (years)	​	(in millions)
Balance at January 31, 2021		755,873	​	$	25.17		4.7	​	$	44.0
Granted		77,441	​	$	88.11			​
Performance units issued		44,296	​	$	36.63			​
Exercised	​	(100,072)	​	$	9.66	​	​	​	​	​
Balance at January 31, 2022		777,538	​	$	35.76		4.8	​	$	57.4
Granted	​	97,991	​	$	64.98	​	​	​	​	​
Performance units issued	​	39,704	​	$	54.34	​	​	​	​	​
Exercised	​	—	​	​	—	​	​	​	​	​
Balance at January 31, 2023	​	915,233	​	$	38.41	​	4.5	​	$	67.9
​	​	​	​	​	​	​	​	​	​	​
Vested or expected to vest at January 31, 2023		915,233	​	$	38.41		4.5	​	$	67.9
​	​	​	​	​	​	​	​	​	​	​
Exercisable at January 31, 2023		654,467	​	$	26.77		3.1	​	$	48.6

​

Schedule of restricted share units activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted-			Weighted-		Aggregate
​	​	​	​	Average		​	Average	​	Intrinsic
​	​	Number of	​	Granted		​	Remaining	​	Value
​	​	RSUs	​	Date Fair		​	Contractual	​	(in
​	​	Outstanding	​	Value		​	Life (years)	​	millions)
Balance at January 31, 2021	​	432,195	​	$	19.98	​	4.7	​	$	25.2
Granted	​	50,099	​	$	65.33	​	​	​	​	​
Exercised	​	(71,314)	​	$	7.14	​	​	​	​	​
Balance at January 31, 2022		410,980	​	$	29.17		5.0	​	$	30.3
Granted		63,651	​	$	61.53			​
Exercised	​	—	​	​	—	​	​	​	​	​
Balance at January 31, 2023		474,631	​	$	32.44		4.7	​	$	35.2
​	​	​	​	​	​	​	​	​	​	​
Vested or expected to vest at January 31, 2023		474,631	​	$	32.44		4.7	​	$	35.2
​	​	​	​	​	​	​	​	​	​	​
Exercisable at January 31, 2023		415,496	​	$	28.26		4.1	​	$	30.8

​

Schedule of cash settled restricted share unit plan activity

​

​	​	​	​	​
​		​		Weighted-
​	​	​	​	Average
​	​	Number of	​	Remaining
​	​	CRSUs	​	Contractual
​	​	Outstanding	​	Life (years)
Balance at January 31, 2021		38,628		1.5
Granted		12,776
Vested and settled in cash		(26,755)
Forfeited		(221)
Balance at January 31, 2022		24,428		1.4
Granted	​	7,948	​	​
Vested and settled in cash	​	(17,719)	​	​
Forfeited	​	(74)	​	​
Balance at January 31, 2023	​	14,583	​	1.4
​	​	​	​	​
Non-vested at January 31, 2023		14,583		1.4

​

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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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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