Stock-based compensation (Tables)
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9 Months Ended |
Oct. 31, 2022 |
|---|
| 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 |
|
Price |
|
Term (Years) |
|
(In thousands) |
Outstanding, January 31, 2022 |
|
2,825,752 |
|
$ |
10.76 |
|
9.4 |
|
|
|
Granted |
|
— |
|
|
— |
|
— |
|
|
|
Exercised |
|
— |
|
|
— |
|
— |
|
|
|
Forfeited |
|
(173,271) |
|
|
— |
|
— |
|
|
|
Expired |
|
— |
|
|
— |
|
— |
|
|
|
Outstanding, October 31, 2022 |
|
2,652,481 |
|
$ |
10.76 |
|
8.7 |
|
$ |
— |
Vested and Exercisable, October 31, 2022 |
|
843,811 |
|
$ |
10.76 |
|
|
|
$ |
— |
|
| Schedule of assumptions used for stock options using the Black Scholes model |
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As of |
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|
|
June 11, 2021 |
|
Risk-free interest rates |
|
|
1.0 |
% |
Expected dividend yield |
|
|
— |
|
Volatility factor |
|
|
30 - 31 |
% |
Expected lives (years) |
|
|
6.1 |
|
Weighted average fair value of options granted |
|
$ |
3.36 |
|
|
| Summary of the RSU activity |
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|
|
|
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|
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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 |
|
5,091,852 |
|
$ |
10.26 |
|
|
|
Granted |
|
12,008,055 |
|
|
5.26 |
|
|
|
Vested |
|
(2,079,069) |
|
|
8.65 |
|
|
|
Forfeited |
|
(2,035,018) |
|
|
6.98 |
|
|
|
Unvested balance, October 31, 2022 |
|
12,985,820 |
|
$ |
6.40 |
|
$ |
23,245 |
|
| Summary of the MBRSU activity |
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|
|
|
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|
|
|
Weighted- |
|
Aggregate |
|
|
|
|
Average Grant |
|
Intrinsic Value |
|
|
Shares |
|
Date Fair Value |
|
(in thousands) |
Unvested balance, January 31, 2022 |
|
1,095,978 |
|
$ |
8.43 |
|
|
|
Granted |
|
1,882,463 |
|
|
5.57 |
|
|
|
Vested |
|
— |
|
|
— |
|
|
|
Forfeited or canceled |
|
(734,284) |
|
|
6.42 |
|
|
|
Unvested balance, October 31, 2022 |
|
2,244,157 |
|
$ |
7.47 |
|
$ |
4,017 |
|
| 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 |
|
Successor |
|
Successor |
|
|
Predecessor (SLH) |
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|
Three Months |
|
Three Months |
|
Nine Months |
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From |
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From |
|
|
Ended |
|
Ended |
|
Ended |
|
June 12, 2021 to |
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|
February 1, 2021 to |
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|
October 31, 2022 |
|
October 31, 2021 |
|
October 31, 2022 |
|
October 31, 2021 |
|
|
June 11, 2021 |
Cost of revenues |
|
$ |
82 |
|
$ |
— |
|
$ |
132 |
|
$ |
— |
|
|
$ |
— |
Content and software development |
|
|
1,782 |
|
|
276 |
|
|
6,207 |
|
|
530 |
|
|
|
— |
Selling and marketing |
|
|
1,915 |
|
|
621 |
|
|
4,933 |
|
|
947 |
|
|
|
— |
General and administrative |
|
|
4,617 |
|
|
3,320 |
|
|
15,634 |
|
|
7,557 |
|
|
|
— |
Total |
|
$ |
8,396 |
|
$ |
4,217 |
|
$ |
26,906 |
|
$ |
9,034 |
|
|
$ |
— |
|