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Income Taxes (Tables) | 12 Months Ended
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Apr. 30, 2026
Income Tax Disclosure [Abstract] |
Schedule of Components of Net Loss Before Income Taxes | The components of the Company’s net loss before provision for income taxes for the fiscal years ended April 30, 2026, 2025 and 2024 were as follows (in thousands):
| Fiscal Year Ended April 30,
| 2026 |  | 2025 |  | 2024
Domestic | $ | (473,506) |  |  | $ | (291,153) |  |  | $ | (282,036) |
Foreign | 3,959 |  |  | 3,427 |  |  | 3,132 |
Net loss before provision for income taxes | $ | (469,547) |  |  | $ | (287,726) |  |  | $ | (278,904) |
Schedule of Provision for Income Tax Expenses | The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2026, 2025 and 2024 were as follows (in thousands):
| Fiscal Year Ended April 30,
| 2026 |  | 2025 |  | 2024
Current expense |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | — |
State | 30 |  |  | 273 |  |  | 293 |
Foreign | 792 |  |  | 670 |  |  | 499 |
Total | 822 |  |  | 943 |  |  | 792 |
Deferred expense |  |  |  |  |
Federal | — |  |  | — |  |  | — |
State | — |  |  | — |  |  | — |
Foreign | — |  |  | 33 |  |  | — |
Total | — |  |  | 33 |  |  | — |
Total provision for income taxes | $ | 822 |  |  | $ | 976 |  |  | $ | 792 |
Schedule of Federal Statutory Rate to Effective Tax Rate Reconciliation | The reconciliation of U.S. federal statutory rate to the Company’s effective tax rate was follows (in thousands):
| Fiscal Year Ended April 30, 2026
| Amount |  | Percent
Expected benefit at federal statutory rate | $ | (98,605) |  |  | 21.00 | %
State tax expense—net of federal benefit | 30 |  |  | (0.01) |
Impact of foreign operations | (169) |  |  | 0.04 |
Federal research and development credit | (4,042) |  |  | 0.86 |
Change in valuation allowance | 70,323 |  |  | (14.98) |
Stock-based compensation† | 29,614 |  |  | (6.31) |
Other permanent items | 1,520 |  |  | (0.32) |
Changes in Unrecognized Tax Benefits (Gross) | 2,151 |  |  | (0.46) |
Total provision for income taxes | $ | 822 |  |  | (0.18) | %
For the fiscal year ended April 30, 2026, state taxes in Texas comprise the majority of the domestic state and local income taxes, net of federal benefit. The difference in the Company’s effective tax rate and the U.S. federal statutory tax rate is primarily due to recording a full valuation allowance and the increase of disallowed stock based compensation on the Company’s U.S. deferred tax assets. A reconciliation of the expected tax provision at the statutory federal income tax rate to the Company’s recorded tax provision consisted of the following, prior to the adoption of ASU 2023-09 (in thousands):
| Fiscal Year Ended April 30,
|  | 2025 |  | 2024
Expected benefit at federal statutory rate |  | $ | (60,422) |  |  | $ | (58,570) |
State tax expense—net of federal benefit |  | 272 |  |  | 292 |
Impact of foreign operations |  | (156) |  |  | (158) |
Federal research and development credit |  | (3,562) |  |  | (3,087) |
Change in valuation allowance |  | 64,770 |  |  | 66,556 |
Stock-based compensation |  | (1,072) |  |  | (5,001) |
Meals and entertainment |  | 228 |  |  | 207 |
ASC 740-10 Reserve |  | 140 |  |  | — |
Other permanent items |  | 778 |  |  | 553 |
Total provision for income taxes |  | $ | 976 |  |  | $ | 792 |
Schedule of Cash Flow, Supplemental Disclosures | The following table presents the required disclosures pursuant to ASU 2023-09 regarding the amount of income taxes paid, net of refunds received (in thousands):
| Fiscal Year Ended April 30, 2026
Taxes paid (net of refunds) |
Federal | $ | — |
State |
Texas | 197 |
Other | 12 |
Total US and Local | 209 |
Foreign |
France | 104 |
Mexico | 434 |
Netherlands | 90 |
Other Foreign | 1 |
Total Foreign | 629 |
Total | $ | 838 |
For the tax year end April 30, 2026, state taxes in Texas comprise the majority of the domestic state and local income taxes, net of federal benefit.
Schedule of Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities as of April 30, 2026 and 2025 were as follows (in thousands):
| As of April 30,
| 2026 |  | 2025
Deferred tax assets |  |  |
Accrued payroll | $ | 7,165 |  |  | $ | 7,483 |
Other accruals & reserves | 2,909 |  |  | 3,423 |
Operating lease liability | 13,625 |  |  | 13,696 |
Deferred revenue | 3,368 |  |  | 1,354 |
Net operating losses | 243,715 |  |  | 179,554 |
R&D tax credit | 24,156 |  |  | 20,396 |
Stock based compensation | 15,201 |  |  | 15,710 |
Capitalized R&D expenditure | 105,857 |  |  | 93,759 |
Other | 361 |  |  | 362 |
Gross deferred tax assets | 416,357 |  |  | 335,737 |
Valuation allowance | (400,447) |  |  | (320,939) |
Total deferred tax assets | 15,910 |  |  | 14,798 |
Deferred tax liabilities |  |  |
Prepaid expenses | (4,523) |  |  | (1,774) |
Depreciation | (7,025) |  |  | (8,635) |
Operating lease right-of-use assets | (4,362) |  |  | (4,389) |
Total deferred tax liabilities | (15,910) |  |  | (14,798) |
Net deferred tax assets (liabilities) | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefits was as follows (in thousands):
| As of April 30,
| 2026 |  | 2025
Balance as of May 1 | $ | 22,561 |  |  | $ | 16,548 |
Increases for tax positions related to the prior year | 66 |  |  | 70 |
Increases for tax positions related to the current year | 4,318 |  |  | 5,943 |
Balance as of April 30 | $ | 26,945 |  |  | $ | 22,561 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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