XML 22 R8.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Apr. 30, 2025
Apr. 30, 2024
Apr. 30, 2023
Operating activities      
Net income (loss) $ 43,619,000 $ 59,666,000 $ (176,167,000)
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation and amortization 40,998,000 35,749,000 99,999,000
Impairment of goodwill 18,359,000 156,017,000 156,017,000
(Gain) loss from equity method investments (4,837,000) 1,674,000 2,453,000
Loss on deconsolidation of previously controlled subsidiary     189,000
Amortization of debt issuance costs 1,195,000 1,009,000 845,000
Provision for doubtful accounts 43,000 4,000 99,000
Reserve for inventory excess and obsolescence 2,882,000 13,937,000 8,136,000
Other non-cash expense, net 2,606,000 1,316,000 1,995,000
Non-cash lease expense 10,163,000 10,400,000 8,048,000
Loss on foreign currency transactions 491,000 22,000 119,000
Unrealized (gain) loss on available-for-sale equity securities, net (177,000) 3,945,000 132,000
Deferred income taxes (20,157,000) (23,290,000) (18,661,000)
Stock-based compensation 21,461,000 17,069,000 10,765,000
Loss on disposal of property and equipment 311,000 621,000 1,497,000
Amortization of debt securities discount     125,000
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (31,761,000) 19,208,000 (27,423,000)
Unbilled receivables and retentions (90,514,000) (92,850,000) (1,446,000)
Inventories 2,966,000 (23,045,000) (61,846,000)
Income taxes receivable (590,000)   442,000
Prepaid expenses and other assets (21,010,000) (20,279,000) (3,821,000)
Accounts payable 22,331,000 12,968,000 12,538,000
Other liabilities 303,000 (2,832,000) (2,635,000)
Net cash provided by operating activities (1,318,000) 15,292,000 11,400,000
Investing activities      
Acquisition of property and equipment and capitalized software to be sold (22,816,000) (22,983,000) (14,868,000)
Contributions in equity method investments (5,674,000) (3,074,000) (5,778,000)
Equity security investments     (5,100,000)
Business acquisitions, net of cash acquired   (24,157,000) (5,105,000)
Acquisition of intangibles   (1,500,000)  
Proceeds from deconsolidation of previously controlled subsidiary, net of cash deconsolidated     (635,000)
Redemptions of available-for-sale investments     26,059,000
Purchase of available-for-sale investments     (1,326,000)
Other     (250,000)
Net cash used in investing activities (28,490,000) (51,714,000) (7,003,000)
Financing activities      
Proceeds from revolving credit facility 40,000,000    
Principal payments of term loan (28,000,000) (107,000,000) (55,000,000)
Principal payments of revolver (10,000,000)    
Holdback and retention payments for business acquisition (390,000) (500,000)  
Payment of contingent consideration   (2,132,000)  
Proceeds from shares issued, net of issuance costs   88,437,000 104,649,000
Payment of debt issuance costs (1,151,000) (37,000)  
Payment of equity issuance costs (2,896,000)    
Tax withholding payment related to net settlement of equity awards (4,147,000) (1,596,000) (1,065,000)
Employee stock purchase plan contributions 1,910,000    
Exercise of stock options 1,841,000 0 2,278,000
Other (23,000) (24,000) (28,000)
Net cash (used in) provided by financing activities (2,856,000) (22,852,000) 50,834,000
Effects of currency translation on cash and cash equivalents 225,000 (284,000) 397,000
Net (decrease) increase in cash and cash equivalents (32,439,000) (59,558,000) 55,628,000
Cash and cash equivalents at beginning of period 73,301,000 132,859,000 77,231,000
Cash and cash equivalents at end of period 40,862,000 73,301,000 132,859,000
Cash paid, net during the period for:      
Income taxes 24,631,000 20,438,000 2,911,000
Interest 1,757,000 6,823,000 10,229,000
Non-cash activities      
Issuance of common stock for business acquisition   109,820,000  
Unrealized gain on available-for-sale investments, net of deferred tax expense of $0 for the fiscal years ended April 30, 2023     53,000
Change in foreign currency translation adjustments (922,000) (1,140,000) 2,009,000
Issuances of inventory to property and equipment, ISR in-service assets     6,306,000
Acquisitions of property and equipment included in accounts payable $ 2,204,000 $ 986,000 $ 721,000