v3.23.1

Equity-based compensation (Tables) | 12 Months Ended
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Jan. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of stock based compensation by type of award | The following table sets forth stock-based compensation by type of award:
|  | For the fiscal years ended January 31,
|  | 2023 |  | 2022 |  | 2021
RSUs |  | $ | 42,214 |  |  | $ | 24,222 |  |  | $ | 10,693 |
Liability awards |  | 7,641 |  |  | 7,055 |  |  | — |
PSUs |  | 7,282 |  |  | 2,389 |  |  | 93 |
Stock options |  | 1,489 |  |  | 2,294 |  |  | 2,703 |
ESPP |  | 1,521 |  |  | 763 |  |  | — |
Total stock-based compensation |  | $ | 60,147 |  |  | $ | 36,723 |  |  | $ | 13,489 |
Schedule of stock based compensation in financial statements | The following table sets forth the presentation of stock-based compensation in the Company's financial statements:
|  | For the fiscal years ended January 31,
|  | 2023 |  | 2022 |  | 2021
Stock-based compensation expense recorded to additional paid-in capital(1) |  | $ | 52,506 |  |  | $ | 29,668 |  |  | $ | 13,489 |
Stock-based compensation expense recorded to accrued expenses |  | 7,641 |  |  | 7,055 |  |  | — |
Total stock-based compensation |  | 60,147 |  |  | 36,723 |  |  | 13,489 |
Less stock-based compensation expense capitalized as internal-use software |  | (1,372) |  |  | (489) |  |  | — |
Stock-based compensation expense per consolidated statements of operations(2) |  | $ | 58,775 |  |  | $ | 36,234 |  |  | $ | 13,489 |
(1) Stock-based compensation included in the Company's consolidated statements of stockholders' equity is consistent with these amounts.
(2) Non-cash stock-based compensation expense included in the Company's consolidated statement of cash flows for the fiscal year ended January 31, 2022 was $36,144, and excluded $90 of cash-settled stock-based compensation expense included in the Company's statements of operations.
Schedule of restricted stock unit activity |
| Restricted stock units
Unvested, January 31, 2020 | 1,447,418 |
Granted during year | 972,271 |
Vested | (242,049) |
Forfeited and expired | (124,602) |
Unvested, January 31, 2021 | 2,053,038 |
Granted during year | 1,836,534 |
Vested | (559,767) |
Forfeited and expired | (195,966) |
Unvested, January 31, 2022 | 3,133,839 |
Granted during year | 2,907,838 |
Vested | (1,626,679) |
Forfeited and expired | (497,245) |
Unvested, January 31, 2023 | 3,917,753 |
Schedule of stock option activity | Stock option activity for the fiscal years ended January 31, 2023, 2022 and 2021 is as follows:
|  | Number of options |  | Weighted- average exercise price |  | Weighted- average remaining contractual life (in years) |  | Aggregate Intrinsic value
Outstanding—January 31, 2020 |  | 5,516,452 |  |  | $ | 3.80 |  |  |  |  |
Granted during the year |  | — |  |  | $ | — |  |  |  |  |
Exercised |  | (2,216,368) |  |  | $ | 2.39 |  |  |  |  |
Forfeited |  | (88,730) |  |  | $ | 7.45 |  |  |  |  |
Outstanding and expected to vest — January 31, 2021 |  | 3,211,354 |  |  | $ | 4.67 |  |  | 5.99 |  | $ | 194,676 |
Outstanding—January 31, 2021 |  | 3,211,354 |  |  | $ | 4.67 |  |  |  |  |
Granted during the year |  | — |  |  | $ | — |  |  |  |  |
Exercised |  | (1,439,186) |  |  | $ | 2.88 |  |  |  |  |
Forfeited and expired |  | (67,018) |  |  | $ | 9.02 |  |  |  |  |
Outstanding and expected to vest — January 31, 2022 |  | 1,705,150 |  |  | $ | 6.01 |  |  | 5.94 |  | $ | 42,938 |
Outstanding—January 31, 2022 |  | 1,705,150 |  |  | $ | 6.01 |  |  |  |  |
Granted during the year |  | — |  |  | $ | — |  |  |  |  |
Exercised |  | (311,743) |  |  | $ | 4.92 |  |  |  |  |
Forfeited and expired |  | (8,214) |  |  | $ | 4.68 |  |  |  |  |
Outstanding and expected to vest — January 31, 2023 |  | 1,385,193 |  |  | $ | 6.26 |  |  | 5.06 |  | $ | 43,341 |
Exercisable — January 31, 2023 |  | 1,362,903 |  |  | $ | 6.12 |  |  | 5.03 |  | $ | 42,750 |
Amount vested during year ended January 31, 2023 |  | 258,735 |  |  | $ | 8.27 |  |  |  |  |
Schedule of measurement inputs and valuation techniques | The fair value of the PSUs granted during the fiscal years ended January 31, 2023, 2022 and 2021, respectively, was estimated using the following assumptions:
| Fiscal years ended January 31,
| 2023 |  | 2022 |  | 2021
Correlation coefficient | 0.4957 |  |  | 0.3878 |  |  | 0.4230 |
Valuation date stock price | $ | 35.41 |  |  | $ | 36.03 |  |  | $ | 62.96 |
Simulation term | 3.00 Years |  | 2.99 Years |  | 3.00 Years
Volatility | 64.98 | % |  | 44.32 | % |  | 43.71 | %
Risk-free rate | 3.84 | % |  | 1.23 | % |  | 0.20 | %
Dividend yield | — | % |  | — | % |  | — | %
Weighted average fair value of grants | $ | 56.52 |  |  | $ | 48.47 |  |  | $ | 84.38 |
Schedule of market-based performance stock unit activity | Market based PSU activity for the years ended January 31, 2023, 2022 and 2021 are as follows:
| Performance stock units
Outstanding February 1, 2020 | — |
Granted during the year ended January 31, 2021 | 70,806 |
Outstanding, February 1, 2021 | 70,806 |
Granted during the year ended January 31, 2022 | 325,410 |
Vested | — |
Forfeited and expired | — |
Outstanding, February 1, 2022 | 396,216 |
Granted during the year ended January 31, 2023 | 255,572 |
Vested | — |
Forfeited and expired | (3,555) |
Outstanding, January 31, 2023 | 648,233 |
Schedule of ESPP valuation assumptions | The fair value of shares granted under the ESPP during the year ended January 31, 2023 was estimated using a Black-Scholes pricing model with the following assumptions:
|  | Year ended January 31, 2023 |  | Year ended January 31, 2022
Risk-free interest rate |  | 3.68 | % |  | 0.17 | %
Expected dividends |  | none |  | none
Expected term (in years) |  | 0.47 years |  | 0.49 years
Volatility |  | 74.8 | % |  | 55.7 | %

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