v3.23.1

Equity-based compensation (Tables)

12 Months Ended

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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