| Stock-Based Compensation |
Stock-Based Compensation Summary of Stock Option Activity
A summary of the Company’s stock option activity for the Plan for the three months ended April 30, 2022 is as follows:
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Number of stock options |
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Weighted average exercise price |
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Weighted average remaining contractual life |
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(in thousands) |
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(in years) |
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Outstanding as of January 31, 2022 |
44,355 |
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6.23 |
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7.8 |
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| Exercised |
(1,404) |
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4.56 |
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| Cancelled/forfeited |
(1,886) |
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7.73 |
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Outstanding as of April 30, 2022 |
41,065 |
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6.22 |
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7.4 |
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Exercisable as of April 30, 2022 |
23,185 |
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$ |
5.07 |
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7.0 |
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Vested and expected to vest as of April 30, 2022 |
36,146 |
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$ |
5.87 |
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7.3 |
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Restricted Stock Units
A summary of the Company’s RSU award activity was as follows:
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Number of restricted shares |
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Weighted Average Grant Date Fair Value |
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(in thousands) |
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Outstanding as of January 31, 2022 |
1,730 |
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$ |
14.67 |
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| Granted |
6,537 |
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13.19 |
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| Released |
(60) |
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9.07 |
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| Cancelled/forfeited |
(115) |
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13.39 |
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Outstanding as of April 30, 2022 |
8,092 |
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$ |
13.56 |
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Stock-Based Compensation Expense
Stock-based compensation expense included in operating results was allocated as follows (in thousands):
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Three Months Ended April 30, |
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2022 |
2021 |
| Costs of subscription |
$ |
408 |
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$ |
378 |
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| Costs of professional services |
623 |
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284 |
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| Research and development |
2,348 |
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1,229 |
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| Sales and marketing |
5,856 |
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4,201 |
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| General and administrative |
3,279 |
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2,814 |
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| Stock-based compensation, net of amounts capitalized |
12,514 |
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8,906 |
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| Capitalized stock-based compensation |
198 |
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— |
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| Total stock-based compensation |
$ |
12,712 |
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$ |
8,906 |
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Three Months Ended April 30, |
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2022 |
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2021 |
| Equity classified awards |
$ |
12,462 |
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$ |
8,656 |
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Other awards (1)
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250 |
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250 |
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$ |
12,712 |
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$ |
8,906 |
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(1) Nonemployee grant recorded over five years, representing the same period and in the same manner as if the grantor had paid cash for the services instead of paying with or using the share-based payment award.
As of April 30, 2022, total unrecognized compensation cost related to unvested awards not yet recognized under all equity compensation plans, adjusted for estimated forfeitures, was as follows:
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April 30, 2022 |
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Unrecognized expense |
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Weighted average expense recognition period |
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(in thousands) |
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(in years) |
| Stock options |
$ |
36,515 |
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2.6 |
| Performance share units |
2,110 |
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2.8 |
| Restricted stock units |
52,714 |
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3.8 |
| ESPP |
5,460 |
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0.6 |
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