XML 32 R16.htm IDEA: XBRL DOCUMENT
v3.26.1

Leases | 12 Months Ended
--- | ---
Apr. 30, 2026
Leases [Abstract] |
Leases | Leases The Company leases its facilities for office space under non-cancellable operating leases with various expiration dates through the fiscal year ending April 30, 2033. Certain lease agreements include options to renew or terminate the applicable lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. On August 25, 2021, the Company entered into a new lease to acquire approximately 283,015 square feet of office space in several phases in Redwood City, California. The lease commencement date was determined as the date when the landlord delivered the leased space to the Company. Accordingly, the first two phases of the lease commenced in the quarter ended January 31, 2022, the third phase of the lease commenced in the quarter ended October 31, 2022, the fourth phase of the lease commenced in the quarter ended April 30, 2023, the fifth phase of the lease commenced in the quarter ended July 31, 2023, the sixth phase of the lease commenced in the quarter ended January 31, 2024, and the seventh and final phase of the lease commenced in the quarter ended July 31, 2024. The components of total lease costs, including variable lease costs, for the fiscal years ended April 30, 2026, 2025 and 2024 were as follows (in thousands):
|  | Fiscal Year Ended April 30,
Lease Costs |  | 2026 |  | 2025 |  | 2024
Operating lease costs |  | $ | 5,584 |  |  | $ | 5,555 |  |  | $ | 4,995 |
Short term lease costs |  | 1,604 |  |  | 1,691 |  |  | 1,537 |
Variable lease costs |  | 5,031 |  |  | 4,623 |  |  | 3,959 |
Sublease income |  | (111) |  |  | (108) |  |  | (105) |
Total lease costs, net |  | $ | 12,108 |  |  | $ | 11,761 |  |  | $ | 10,386 |
On February 21, 2023, the Company entered into a sublease agreement with First Virtual Group, Inc. (the “Subtenant”), whereby the Company agreed to sublease to the Subtenant approximately 3,130 square feet of space located in Redwood City, California. Refer to Note 12. Related Party Transactions for more information. Variable lease costs are primarily related to payments made to the Company’s landlords for common area maintenance, property taxes, insurance, and other operating expenses. Short-term lease costs primarily represent payments related to marketing arrangements that contain embedded short-term leases of billboards. Supplemental cash flow information and non-cash activity related to leases was as follows (in thousands):
|  | Fiscal Year Ended April 30,
|  | 2026 |  | 2025 |  | 2024
Cash payments included in the measurement of operating lease liabilities – operating cash flows |  | $ | 9,833 |  |  | $ | 8,174 |  |  | $ | 6,136 |
Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives) |  | $ | (166) |  |  | $ | 1,016 |  |  | $ | 1,833 |
The following table presents the lease balances within the consolidated balance sheets, weighted-average remaining lease term, and weighted-average discount rates related to the Company’s operating leases (in thousands):
|  |  |  | As of April 30,
Operating leases |  | 2026 |  | 2025
Right-of-use assets |  | Other assets, non-current |  | $ | 18,785 |  |  | $ | 19,321 |
Lease liabilities, current |  | Other current liabilities |  | 5,577 |  |  | 4,795 |
Lease liabilities, non-current |  | Other long-term liabilities |  | 53,104 |  |  | 55,495 |
Total operating lease liabilities |  | $ | 58,681 |  |  | $ | 60,290 |
|  | As of April 30,
Operating leases |  | 2026 |  | 2025
Weighted average remaining lease term (in years) |  | 6.9 |  | 7.9
Weighted average discount rate |  | 8.7 | % |  | 8.6 | %
Future minimum payments under lease obligations as of April 30, 2026 were as follows (in thousands):
|  | As of April 30, 2026
Fiscal 2027 |  | $ | 10,387 |
Fiscal 2028 |  | 10,706 |
Fiscal 2029 |  | 11,012 |
Fiscal 2030 |  | 11,338 |
Fiscal 2031 and thereafter |  | 35,076 |
Total future minimum lease payments |  | 78,519 |
Less: Imputed interest |  | (19,838) |
Total operating lease liabilities |  | $ | 58,681 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration