Stock-Based Compensation (Tables)
|
12 Months Ended |
Nov. 30, 2025 |
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Stock Option Activity |
A summary of stock option activity under all the plans is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Shares (in thousands) | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term (in years) | | Aggregate Intrinsic Value (in thousands) | | Options outstanding, December 1, 2024 | 1,826 | | | $ | 45.89 | | | | | | | Granted | 428 | | | 52.61 | | | | | | | Exercised | (185) | | | 38.35 | | | | | | | Canceled | (115) | | | 44.52 | | | | | | | Options outstanding, November 30, 2025 | 1,954 | | | $ | 48.45 | | | 3.8 | | $ | 458 | | | Exercisable, November 30, 2025 | 1,231 | | | $ | 45.99 | | | 2.9 | | $ | 458 | | | Vested or expected to vest, November 30, 2025 | 1,954 | | | $ | 48.45 | | | 3.8 | | $ | 458 | |
|
| Schedule of Status of Restricted Stock Units |
A summary of restricted stock units' activity is as follows: | | | | | | | | | | | | | (in thousands, except per share data) | Number of Shares | | Weighted Average Fair Value | | Restricted stock units outstanding, December 1, 2024 | 1,402 | | | $ | 54.62 | | | Granted | 1,275 | | | 53.30 | | | Issued | (822) | | | 52.19 | | | Canceled | (104) | | | 54.84 | | | Restricted stock units outstanding, November 30, 2025 | 1,751 | | | $ | 54.79 | |
|
| Schedule of Valuation Assumptions |
We estimated the fair value of stock options and ESPP awards granted in fiscal years 2025, 2024, and 2023 on the measurement dates using the Black-Scholes option valuation model, and LTIP awards using the Monte Carlo Simulation valuation model, with the following weighted average assumptions: | | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | November 30, 2025 | | November 30, 2024 | | November 30, 2023 | | Stock options: | | | | | | | Expected volatility | 23.7 | % | | 27.3 | % | | 30.6 | % | | Risk-free interest rate | 4.3 | % | | 4.1 | % | | 3.5 | % | | Expected life (in years) | 4.8 | | 4.8 | | 4.8 | | Expected dividend yield | — | % | | 1.2 | % | | 1.4 | % | | Employee stock purchase plan: | | | | | | | Expected volatility | 25.7 | % | | 24.5 | % | | 26.9 | % | | Risk-free interest rate | 4.1 | % | | 4.7 | % | | 4.9 | % | | Expected life (in years) | 1.2 | | 1.2 | | 1.2 | | Expected dividend yield | 1.1 | % | | 1.3 | % | | 1.3 | % | | Long-term incentive plan: | | | | | | | Expected volatility | 27.4 | % | | 26.9 | % | | 31.4 | % | | Risk-free interest rate | 4.3 | % | | 4.1 | % | | 3.8 | % | | Expected life (in years) | 2.9 | | 2.8 | | 2.9 | | Expected dividend yield | — | % | | — | % | | — | % |
|
| Schedule of Stock Options and Stock Awards Activity |
The following additional activity occurred under our plans: | | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | (in thousands) | November 30, 2025 | | November 30, 2024 | | November 30, 2023 | | Total intrinsic value of stock options on date exercised | $ | 5,646 | | | $ | 7,471 | | | $ | 12,171 | | | Total fair value of deferred stock units on date vested | $ | 1,531 | | | $ | 1,600 | | | $ | 2,260 | | | Total fair value of restricted stock units on date vested | $ | 42,261 | | | $ | 47,145 | | | $ | 33,402 | |
|
| Schedule of Classification of Stock-Based Compensation |
The following table provides the classification of stock-based compensation as reflected in our consolidated statements of operations: | | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | (in thousands) | November 30, 2025 | | November 30, 2024 | | November 30, 2023 | | Cost of maintenance, SaaS, and professional services | $ | 5,818 | | | $ | 3,540 | | | $ | 2,976 | | | Sales and marketing | 13,277 | | | 8,964 | | | 6,797 | | | Product development | 19,410 | | | 13,551 | | | 12,214 | | | General and administrative | 26,263 | | | 20,701 | | | 18,542 | | | Total stock-based compensation | $ | 64,768 | | | $ | 46,756 | | | $ | 40,529 | | | Income tax benefit included in the provision for income taxes | $ | 11,155 | | | $ | 10,091 | | | $ | 9,355 | |
|