XML 94 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Information | 12 Months Ended
--- | ---
Apr. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information We report our segment information in accordance with the provisions of FASB ASC Topic 280, “Segment Reporting.” We determine our operating and reportable segments based on how our CODM evaluates our business performance, manages the operations, makes operating decisions, and allocates resources. Our segment reporting structure consists of three operating and reportable segments, which are listed below, as well as a Corporate expense category, which includes certain costs that are not allocated to the reportable segments: •Research •Learning •Held for Sale or Sold Our President and Chief Executive Officer is the Company’s CODM. The performance metric used by our CODM to evaluate performance of our reportable segments is Adjusted Operating Income. The CODM uses Adjusted Operating Income during the annual budgeting process and evaluates budget and forecast-to-actual variances on a monthly basis to make decisions about the allocation of resources to our segments. Our significant expense categories that are included within Adjusted Operating Income include cost of sales, direct expenses, allocated expenses from our Corporate expense category, and amortization of intangible assets. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. The following tables present a summary of our Adjusted Operating Income (Loss) by segment, and the reconciliation to Income (Loss) before taxes for the years ended April 30:
| 2025
| Research |  | Learning |  | Held for Sale or Sold |  | Total
Revenue | $ | 1,075,459 |  |  | $ | 584,768 |  |  | $ | 17,382 |  |  | $ | 1,677,609 |
Cost of sales | 278,867 |  |  | 144,758 |  |  | 7,755 |  |  | 431,380 |
Direct expenses | 336,484 |  |  | 142,204 |  |  | 10,365 |  |  | 489,053 |
Allocated Corporate expenses | 160,959 |  |  | 114,703 |  |  | 2,840 |  |  | 278,502 |
Amortization of intangible assets | 43,569 |  |  | 8,253 |  |  | — |  |  | 51,822 |
Adjusted Operating Income (Loss) by segment | $ | 255,580 |  |  | $ | 174,850 |  |  | $ | (3,578) |  |  | $ | 426,852 |
Reconciliation of Adjusted Operating Income by segment to Income before taxes |  |  |  |  |  |  |
Corporate expenses(1) |  |  |  |  |  |  | (179,882) |
Restructuring and related charges(2) |  |  |  |  |  |  | (25,561) |
Interest expense |  |  |  |  |  |  | (52,547) |
Net foreign exchange transaction losses |  |  |  |  |  |  | (8,142) |
Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale |  |  |  |  |  |  | (23,340) |
Other income, net |  |  |  |  |  |  | 5,498 |
Income before taxes |  |  |  |  |  |  | $ | 142,878 |
| 2024
| Research |  | Learning |  | Held for Sale or Sold |  | Total
Revenue | $ | 1,042,705 |  |  | $ | 574,739 |  |  | $ | 255,543 |  |  | $ | 1,872,987 |
Cost of sales | 281,109 |  |  | 145,054 |  |  | 153,559 |  |  | 579,722 |
Direct expenses | 323,392 |  |  | 145,514 |  |  | 48,127 |  |  | 517,033 |
Allocated Corporate expenses | 155,495 |  |  | 132,394 |  |  | 23,142 |  |  | 311,031 |
Amortization of intangible assets | 44,946 |  |  | 9,044 |  |  | 2,004 |  |  | 55,994 |
Adjusted Operating Income by segment | $ | 237,763 |  |  | $ | 142,733 |  |  | $ | 28,711 |  |  | $ | 409,207 |
Reconciliation of Adjusted Operating Income by segment to Loss before taxes |  |  |  |  |  |  |
Corporate expenses(1) |  |  |  |  |  |  | (185,456) |
Impairment of goodwill(2) |  |  |  |  |  |  | (108,449) |
Restructuring and related charges(2) |  |  |  |  |  |  | (63,041) |
Interest expense |  |  |  |  |  |  | (49,003) |
Net foreign exchange transaction losses |  |  |  |  |  |  | (2,959) |
Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale |  |  |  |  |  |  | (183,389) |
Other expense, net |  |  |  |  |  |  | (3,957) |
Loss before taxes |  |  |  |  |  |  | $ | (187,047) |
| 2023
| Research |  | Learning |  | Held for Sale or Sold |  | Total
Revenue | $ | 1,080,311 |  |  | $ | 546,395 |  |  | $ | 393,194 |  |  | $ | 2,019,900 |
Cost of sales | 286,361 |  |  | 148,925 |  |  | 257,255 |  |  | 692,541 |
Direct expenses | 312,383 |  |  | 157,694 |  |  | 71,310 |  |  | 541,387 |
Allocated Corporate expenses | 151,348 |  |  | 130,654 |  |  | 38,534 |  |  | 320,536 |
Amortization of intangible assets | 46,235 |  |  | 9,022 |  |  | 24,909 |  |  | 80,166 |
Adjusted Operating Income by segment | $ | 283,984 |  |  | $ | 100,100 |  |  | $ | 1,186 |  |  | $ | 385,270 |
Reconciliation of Adjusted Operating Income by segment to Income before taxes |  |  |  |  |  |  |
Corporate expenses(1) |  |  |  |  |  |  | (171,926) |
Impairment of goodwill(2) |  |  |  |  |  |  | (99,800) |
Restructuring and related charges(2) |  |  |  |  |  |  | (49,389) |
Interest expense |  |  |  |  |  |  | (37,745) |
Net foreign exchange transaction gains |  |  |  |  |  |  | 894 |
Net gain on sale of businesses and assets |  |  |  |  |  |  | 10,177 |
Other income, net |  |  |  |  |  |  | 3,884 |
Legal settlement(3) |  |  |  |  |  |  | (3,671) |
Accelerated amortization of an intangible asset(4) |  |  |  |  |  |  | (4,594) |
Income before taxes |  |  |  |  |  |  | $ | 33,100 |
(1) | Corporate expenses include certain costs that are not allocated to the reportable segments.
(2) | See Note 7, “Restructuring and Related Charges” and Note 11, “Goodwill and Intangible Assets” for more information of these charges by segment.
(3) | In the three months ended January 31, 2023, we settled a litigation matter related to consideration for a previous acquisition for $3.7 million which is included in Corporate Operating and administrative expenses.
(4) | We discontinued use of the mthree trademark that resulted in a change in the useful life and accelerated amortization expense of 4.6 million in the three months ended July 31, 2022. This amortization expense was an adjustment to the Held for Sale or Sold Adjusted operating income. In addition, it was included in Depreciation and amortization in the table below.
See Note 3, “Revenue Recognition, Contracts with Customers,” for revenue from contracts with customers disaggregated by segment and product type for the years ended April 30, 2025, 2024, and 2023. Depreciation and amortization expense for the years ended April 30 were as follows:
| 2025 |  | 2024 |  | 2023
Research | $ | 89,302 |  |  | $ | 93,422 |  |  | $ | 93,008 |
Learning | 43,900 |  |  | 57,696 |  |  | 57,698 |
Held for Sale or Sold(1) | — |  |  | 3,437 |  |  | 46,085 |
Total depreciation and amortization | $ | 133,202 |  |  | $ | 154,555 |  |  | $ | 196,791 |
Corporate depreciation and amortization | 13,924 |  |  | 22,434 |  |  | 16,462 |
Total depreciation and amortization | $ | 147,126 |  |  | $ | 176,989 |  |  | $ | 213,253 |
(1) | We ceased to record depreciation and amortization of long-lived assets for these businesses as of the date the assets were classified as held-for-sale.
Revenue for the years ended April 30 from external customers based on the location of the customer were as follows:
| 2025 |  | 2024 |  | 2023
United States | $ | 729,833 |  |  | $ | 881,795 |  |  | $ | 995,918 |
China | 141,239 |  |  | 120,213 |  |  | 150,939 |
United Kingdom | 118,328 |  |  | 165,457 |  |  | 150,601 |
Japan | 83,152 |  |  | 84,846 |  |  | 89,084 |
Australia | 75,102 |  |  | 74,986 |  |  | 79,802 |
Other countries | 529,955 |  |  | 545,690 |  |  | 553,556 |
Total | $ | 1,677,609 |  |  | $ | 1,872,987 |  |  | $ | 2,019,900 |
Total long-lived assets, consisting of technology, property and equipment, net and operating lease ROU assets by geographical area as of April 30 were as follows:
| 2025 |  | 2024 |  | 2023
United States | $ | 185,610 |  |  | $ | 213,192 |  |  | $ | 275,229 |
United Kingdom | 25,315 |  |  | 27,584 |  |  | 34,748 |
Other countries | 17,328 |  |  | 20,736 |  |  | 28,369 |
Total | $ | 228,253 |  |  | $ | 261,512 |  |  | $ | 338,346 |
Our CODM reviews our financial position at a consolidated level and does not review assets by segment to evaluate segment performance or allocate resources. As such, assets by segment are not disclosed.

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration