Equity-based compensation (Tables)
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12 Months Ended |
Jan. 31, 2024 |
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| Share-Based Payment Arrangement [Abstract] |
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| 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, | | | | 2024 | | 2023 | | 2022 | | RSUs | | $ | 53,474 | | | $ | 42,214 | | | $ | 24,222 | | | Liability awards | | 9,047 | | | 7,641 | | | 7,055 | | | PSUs | | 9,206 | | | 7,282 | | | 2,389 | | | Stock options | | 45 | | | 1,489 | | | 2,294 | | | ESPP | | 1,256 | | | 1,521 | | | 763 | | | Total stock-based compensation | | $ | 73,028 | | | $ | 60,147 | | | $ | 36,723 | |
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| Schedule of stock based compensation in financial statements |
The following table sets forth the presentation of stock-based compensation in the Company's consolidated financial statements: | | | | | | | | | | | | | | | | | | | | | | | For the fiscal years ended
January 31, | | | | 2024 | | 2023 | | 2022 | Stock-based compensation expense recorded to additional paid-in capital(1) | | $ | 63,981 | | | $ | 52,506 | | | $ | 29,668 | | | Stock-based compensation expense recorded to accrued expenses | | 9,047 | | | 7,641 | | | 7,055 | | | Total stock-based compensation | | 73,028 | | | 60,147 | | | 36,723 | | | Less: stock-based compensation expense capitalized as internal-use software | | (1,415) | | | (1,372) | | | (489) | | Stock-based compensation expense per consolidated statements of operations(2) | | $ | 71,613 | | | $ | 58,775 | | | $ | 36,234 | | | (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 statements 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. |
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| Schedule of restricted stock unit activity |
| | | | | | | | Restricted stock units | | 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 | | Granted during year (1) | 2,419,679 | | | Vested | (1,912,432) | | | Forfeited and expired | (624,790) | | Unvested, January 31, 2024 | 3,800,210 | | (1) Includes 24,125 awards granted pursuant to the 2023 Inducement Award Plan. | |
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| Schedule of stock option activity |
Stock option activity for the fiscal years ended January 31, 2024, 2023 and 2022 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of
options | | Weighted-
average
exercise price | | Weighted-
average
remaining
contractual life
(in years) | | Aggregate Intrinsic
value | | Outstanding — January 31, 2021 | | 3,211,354 | | | $ | 4.67 | | | | | | | Granted during the year | | — | | | $ | — | | | | | | | Exercised | | (1,439,186) | | | $ | 2.88 | | | | | | | Forfeited | | (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 | | | Outstanding — January 31, 2023 | | 1,385,193 | | | $ | 6.26 | | | | | | | Granted during the year | | — | | | $ | — | | | | | | | Exercised | | (249,247) | | | $ | 3.42 | | | | | | | Forfeited and expired | | (12,508) | | | $ | 5.87 | | | | | | Outstanding and expected to vest — January 31, 2024 | | 1,123,438 | | | $ | 6.89 | | | 4.54 | | $ | 20,884 | | Exercisable — January 31, 2024 | | 1,123,438 | | | $ | 6.89 | | | 4.54 | | $ | 20,884 | | Amount vested during year ended January 31, 2024 | | 24,565 | | | $ | 13.41 | | | | | |
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| Schedule of measurement inputs and valuation techniques |
The fair value of the PSUs granted during the fiscal years ended January 31, 2024, 2023 and 2022, respectively, was estimated using the following assumptions: | | | | | | | | | | | | | | | | | | | Fiscal years ended January 31, | | | 2024 | | 2023 | | 2022 | | Correlation coefficient | 0.5238 | | | 0.4957 | | | 0.3878 | | | Valuation date stock price | $ | 22.94 | | | $ | 35.41 | | | $ | 36.03 | | | Simulation term | 3.00 Years | | 3.00 Years | | 2.99 Years | | Volatility | 64.58 | % | | 64.98 | % | | 44.32 | % | | Risk-free rate | 4.05 | % | | 3.84 | % | | 1.23 | % | | Dividend yield | — | % | | — | % | | — | % | Weighted average fair value of grants | $ | 36.42 | | | $ | 56.52 | | | $ | 48.47 | |
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| Schedule of market-based performance stock unit activity |
Market-based PSU activity for the years ended January 31, 2024, 2023 and 2022 are as follows: | | | | | | | Performance
stock units | | Outstanding, February 1, 2021 | 70,806 | | | Granted during the year ended January 31, 2022 | 325,410 | | | Outstanding, February 1, 2022 | 396,216 | | | Granted during the year ended January 31, 2023 | 255,572 | | | Vested | — | | | Forfeited and expired | (3,555) | | | Outstanding, February 1, 2023 | 648,233 | | Granted during the year ended January 31, 2024 | 576,680 | | | Vested | (67,251) | | | Forfeited | (117,443) | | Outstanding, January 31, 2024 | 1,040,219 | |
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| Schedule of ESPP valuation assumptions |
The fair value of shares granted under the ESPP during the year ended January 31, 2024 was estimated using a Black-Scholes pricing model with the following assumptions: | | | | | | | | | | | | | | | | | | | Year ended
January 31, 2024 | | Year ended
January 31, 2023 | | Year ended
January 31, 2022 | Risk-free interest rate | 5.30 | % | | 3.68 | % | | 0.17 | % | Expected dividends | none | | none | | none | Expected term (in years) | 0.49 years | | 0.47 years | | 0.49 years | Volatility | 62.4 | % | | 74.8 | % | | 55.7 | % |
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