v3.24.3
Stock-Based Compensation (Tables)
 6 Months Ended
Oct. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
A summary of the Company’s option activity during the six months ended October 31, 2024 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, 202431,328 $13.97 5.68$268,167 
Options granted1,187 23.43 
Options exercised(1,064)25.82 
Options cancelled(513)19.77 
Balance as of October 31, 202430,938 $14.56 5.41$311,547 
Vested and exercisable as of October 31, 202424,887 $11.30 4.89$331,739 
Vested and expected to vest as of October 31, 202430,938 $14.56 5.41$311,547 
Schedule of Valuation Assumptions The weighted average assumptions underlying the fair value estimation are provided in the following table:
Six Months Ended October 31,
20242023
Valuation assumptions:
Expected dividend yield— %— %
Expected volatility66.2 %62.3 %
Expected term (years)6.16.5
Risk-free interest rate3.6 %4.7 %
Schedule of Restricted Stock Unit Activity
A summary of the Company’s RSU activity during the six months ended October 31, 2024 is as follows:
RSUs Outstanding
Number of RSUsWeighted Average
Grant Date Fair Value
Per Share
(in thousands)
Unvested Balance as of April 30, 202419,283 $24.26 
RSUs granted7,569 27.21 
RSUs vested(3,858)26.50 
RSUs forfeited(2,515)27.35 
Unvested Balance as of October 31, 202420,479 $25.11 
Schedule of Fair Value of Shares to be Granted
The following assumptions were used to calculate the fair value of shares to be granted under the 2020 ESPP during the period:
Six Months Ended October 31,
20242023
Valuation assumptions:
Expected dividend yield— %— %
Expected volatility
56.2 - 75.3%
64.0 - 70.1%
Expected term (years)
0.5 - 2.0
0.5 - 2.0
Risk-free interest rate
3.6 - 4.6%
5.0 - 5.5%
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 October 31,Six Months Ended October 31,
2024202320242023
Cost of subscription$7,827 $8,514 $15,521 $16,570 
Cost of professional services484 479 1,198 939 
Sales and marketing20,802 18,226 39,635 35,005 
Research and development17,999 16,685 36,430 33,718 
General and administrative9,926 9,265 18,937 17,817 
Total stock-based compensation expense$57,038 $53,169 $111,721 $104,049