Stock-based compensation (Tables)
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6 Months Ended |
Jul. 31, 2022 |
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| Stock-based compensation |
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| Summary of stock option activity |
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Weighted |
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Weighted |
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Average |
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Average |
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Remaining |
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Aggregate |
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Exercise |
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Contractual |
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Intrinsic Value |
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Shares |
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Price |
|
Term (Years) |
|
(In thousands) |
Outstanding, January 31, 2022 |
|
2,825,752 |
|
$ |
10.76 |
|
9.4 |
|
|
|
Granted |
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— |
|
|
— |
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— |
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|
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Exercised |
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— |
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|
— |
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— |
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|
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Forfeited |
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— |
|
|
— |
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— |
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|
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Expired |
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— |
|
|
— |
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— |
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|
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Outstanding, July 31, 2022 |
|
2,825,752 |
|
$ |
10.76 |
|
8.9 |
|
$ |
— |
Vested and Exercisable, July 31, 2022 |
|
549,500 |
|
$ |
10.75 |
|
|
|
$ |
— |
|
| Schedule of assumptions used for stock options using the Black Scholes model |
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Six Months Ended |
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|
July 31, 2022 |
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Risk-free interest rates |
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|
1.0 |
% |
Expected dividend yield |
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|
— |
|
Volatility factor |
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|
30 - 31 |
% |
Expected lives (years) |
|
|
6.1 |
|
Weighted average fair value of options granted |
|
$ |
3.36 |
|
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| Summary of the RSU activity |
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Weighted- |
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Aggregate |
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|
|
|
Average Grant |
|
Intrinsic Value |
|
|
Shares |
|
Date Fair Value |
|
(in thousands) |
Unvested balance, January 31, 2022 |
|
5,091,852 |
|
$ |
10.26 |
|
|
|
Granted |
|
8,748,204 |
|
|
5.91 |
|
|
|
Vested |
|
(1,078,727) |
|
|
8.74 |
|
|
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Forfeited |
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(784,667) |
|
|
7.88 |
|
|
|
Unvested balance, July 31, 2022 |
|
11,976,662 |
|
$ |
7.38 |
|
$ |
45,990 |
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| Summary of the MBRSU activity |
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Weighted- |
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Aggregate |
|
|
|
|
Average Grant |
|
Intrinsic Value |
|
|
Shares |
|
Date Fair Value |
|
(in thousands) |
Unvested balance, January 31, 2022 |
|
1,095,978 |
|
$ |
8.43 |
|
|
|
Granted |
|
1,463,385 |
|
|
7.26 |
|
|
|
Vested |
|
— |
|
|
— |
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|
|
Forfeited |
|
(127,628) |
|
|
7.33 |
|
|
|
Unvested balance, July 31, 2022 |
|
2,431,735 |
|
$ |
7.79 |
|
$ |
9,338 |
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| Schedule of classification of stock-based compensation |
The following summarizes the classification of stock-based compensation in the condensed consolidated statements of operations (in thousands):
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Quarter to Date Results |
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Year to Date Results |
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Fiscal 2023 |
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Fiscal 2022 |
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Fiscal 2023 |
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Fiscal 2022 |
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Successor |
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Successor |
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Predecessor (SLH) |
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Successor |
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Successor |
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Predecessor (SLH) |
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Three Months |
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From |
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From |
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Six Months |
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From |
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From |
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Ended |
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June 12, 2021 to |
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May 1, 2021 to |
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Ended |
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June 12, 2021 to |
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February 1, 2021 to |
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July 31, 2022 |
|
July 31, 2021 |
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|
June 11, 2021 |
|
July 31, 2022 |
|
July 31, 2021 |
|
|
June 11, 2021 |
Cost of revenues |
|
$ |
37 |
|
$ |
— |
|
|
$ |
— |
|
$ |
51 |
|
$ |
— |
|
|
$ |
— |
Content and software development |
|
|
2,849 |
|
|
254 |
|
|
|
— |
|
|
4,424 |
|
|
254 |
|
|
|
— |
Selling and marketing |
|
|
1,541 |
|
|
326 |
|
|
|
— |
|
|
3,018 |
|
|
326 |
|
|
|
— |
General and administrative |
|
|
5,590 |
|
|
4,237 |
|
|
|
— |
|
|
11,017 |
|
|
4,237 |
|
|
|
— |
Total |
|
$ |
10,017 |
|
$ |
4,817 |
|
|
$ |
— |
|
$ |
18,510 |
|
$ |
4,817 |
|
|
$ |
— |
|