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Stock-Based Compensation (Tables) | 3 Months Ended
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Jul. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | A summary of the Company’s option activity during the three months ended July 31, 2022 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, 2022 | 36,338 |  |  | $ | 12.44 |  |  | 7.34 |  | $ | 165,436 |
Options granted | 40 |  |  | 16.74 |  |  |  |  |
Options exercised | (287) |  |  | 18.88 |  |  |  |  |
Options cancelled | (222) |  |  | 13.47 |  |  |  |  |
Balance as of July 31, 2022 | 35,869 |  |  | $ | 12.50 |  |  | 7.12 |  | $ | 211,987 |
Vested and exercisable as of July 31, 2022 | 17,698 |  |  | $ | 6.62 |  |  | 6.27 |  | $ | 208,655 |
Vested and expected to vest as of July 31, 2022(1) | 36,169 |  |  | $ | 12.50 |  |  | 7.12 |  | $ | 213,761 |
(1) The number of options vested and expected to vest as of July 31, 2022 includes early exercised, unvested Class A common stock. Refer to Note 7. Stockholders’ Equit y for more information.
Schedule of Valuation Assumptions | The weighted average assumptions underlying the fair value estimation are provided in the following table:
|  | As of July 31,
|  | 2022 |  | 2021
Valuation assumptions: |  |  |  |
Expected dividend yield |  | — | % |  | — | %
Expected volatility |  | 45.0 | % |  | 44.5 | %
Expected term (years) |  | 6.5 |  | 6.3
Risk-free interest rate |  | 2.9 | % |  | 0.8 | %
Schedule of Restricted Stock Unit Activity | A summary of the Company’s RSU activity during the three months ended July 31, 2022 is as follows:
| RSUs Outstanding
| Number of RSUs |  | Weighted Average Grant Date Fair Value Per Share
| (in thousands) |  |
Unvested Balance as of April 30, 2022 | 12,109 |  |  | $ | 36.04 |
RSUs granted | 8,969 |  |  | 17.84 |
RSUs vested | (1,841) |  |  | 30.59 |
RSUs forfeited | (1,630) |  |  | 36.11 |
Unvested Balance as of July 31, 2022 | 17,607 |  |  | $ | 27.29 |
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 July 31, |  |
| 2022 |  | 2021 |  |  |  |
Cost of subscription | $ | 4,272 |  |  | $ | 821 |  |  |  |  |
Cost of professional services | 1,071 |  |  | 602 |  |  |  |  |
Sales and marketing | 16,779 |  |  | 6,135 |  |  |  |  |
Research and development | 25,217 |  |  | 2,758 |  |  |  |  |
General and administrative | 9,291 |  |  | 3,596 |  |  |  |  |
Total stock-based compensation expense | $ | 56,630 |  |  | $ | 13,912 |  |  |  |  |

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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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