The Company reserved 6.0 million of its ordinary shares for purchase and issuance under the 2022 Employee Stock Purchase Plan (“ESPP”). The ESPP allows eligible employees to acquire ordinary shares of the Company at a discount at periodic intervals through accumulated payroll deductions. Eligible employees purchase ordinary shares of the Company during a purchase period at 85% of the market value of the ordinary shares at either the beginning or end of an offering period, whichever is lower. Offering periods under the ESPP are approximately six months long and begin on each of March 16 or September 16 or the next trading day thereafter.

No ordinary shares were issued under the ESPP during the three months ended July 31, 2026 and 2025. Stock-based compensation expense recognized related to the ESPP was $1.8 million and $2.0 million for the three months ended July 31, 2026 and 2025, respectively.

Under the Company’s 2012 Stock Option Plan (as amended and restated, the “2012 Plan”), the board of directors, the compensation committee, as administrator of the 2012 Plan, and any other duly authorized committee may grant stock options and other equity-based awards, such as restricted stock units (“RSUs”) (including those with performance or market conditions) to eligible employees, directors, and consultants to attract and retain talented personnel for positions of substantial responsibility, to provide additional incentive to employees, directors, and consultants, and to promote the success of the Company’s business.

The Company’s board of directors, compensation committee, or other duly authorized committee determines the vesting schedule for all equity-based awards. Stock options and RSUs granted to employees generally vest over four years, subject to the employees’ continued service to the Company. The Company’s compensation committee may explicitly deviate from the general vesting schedules in its approval of an equity-based award as it may deem appropriate. Stock options expire ten years after the date of grant. Shares subject to stock options and RSUs that are canceled under certain conditions become available for future grant of awards under the 2012 Plan unless the 2012 Plan is terminated. As of July 31, 2026, there were 31,764,805 shares available for grant under the 2012 Plan.


	Stock Options Outstanding
	Number of Stock Options Outstanding	Weighted- Average Exercise Price		Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)






Balance as of April 30, 2026	1,547,110	$	46.25	3.10	$	30,020

Stock options exercised	(244,903)	$	13.49
Stock options canceled	(2,354)	$	84.87
Stock options assumed in acquisition canceled	(1,203)	$	71.42
Balance as of July 31, 2026	1,298,650	$	52.33	2.65	$	36,207
Exercisable as of July 31, 2026	1,298,650	$	52.33	2.65	$	36,207

Aggregate intrinsic value represents the difference between the exercise price of the stock options to purchase the Company’s ordinary shares and the fair value of the Company’s ordinary shares. No stock options were granted during the three months ended July 31, 2026 and 2025. As of July 31, 2026, the Company had no unrecognized stock-based compensation expense related to unvested stock options.


	Number of Awards	Weighted-Average Grant Date Fair Value




Outstanding and unvested at April 30, 2026	8,162,578	$	84.58
RSUs granted	3,720,044	$	62.59
RSUs released	(928,811)	$	83.66
RSUs canceled	(1,010,024)	$	83.30
Outstanding and unvested at July 31, 2026	9,943,787	$	76.57


	Three Months Ended July 31,
		2026		2025
Cost of revenue
Subscription		$	2,750	$	2,468
Services		4,489		3,932
Research and development		24,326		26,623
Sales and marketing		25,144		23,067
General and administrative		18,073		13,845


Total stock-based compensation expense		$	74,782	$	69,935