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Segment Information | 12 Months Ended
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Apr. 30, 2026
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 Year Ended April 30, 2026 |
| Research |  | Learning |  |  |  | Total |
Revenue | $ | 1,129,942 |  |  | $ | 546,586 |  |  |  |  | $ | 1,676,528 |  |
Cost of sales | 303,702 |  |  | 127,807 |  |  |  |  | 431,509 |  |
Direct expenses | 331,192 |  |  | 136,301 |  |  |  |  | 467,493 |  |
Allocated Corporate expenses | 167,578 |  |  | 107,909 |  |  |  |  | 275,487 |  |
Amortization of intangible assets | 44,866 |  |  | 8,184 |  |  |  |  | 53,050 |  |
Adjusted Operating Income by segment(1) | $ | 282,604 |  |  | $ | 166,385 |  |  |  |  | $ | 448,989 |  |
Reconciliation of Adjusted Operating Income by segment to Income before taxes |  |  |  |  |  |  |  |
Adjusted unallocated Corporate expenses(2) |  |  |  |  |  |  | (152,819) |  |
Restructuring and related charges(3) |  |  |  |  |  |  | (19,203) |  |
Interest expense |  |  |  |  |  |  | (43,848) |  |
Net foreign exchange transaction losses |  |  |  |  |  |  | (6,564) |  |
Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale |  |  |  |  |  |  | (4,828) |  |
Other expense, net |  |  |  |  |  |  | (6,533) |  |
Legal settlement(4) |  |  |  |  |  |  | (108) |  |
Income before taxes |  |  |  |  |  |  | $ | 215,086 |  |
| For the Year 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 |  |  |  |  |  |  |  |
Adjusted unallocated Corporate expenses(2) |  |  |  |  |  |  | (179,882) |  |
Restructuring and related charges(3) |  |  |  |  |  |  | (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 |  |
| For the Year Ended April 30, 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 Income before taxes |  |  |  |  |  |  |  |
Adjusted unallocated Corporate expenses(2) |  |  |  |  |  |  | (185,456) |  |
Impairment of goodwill(3) |  |  |  |  |  |  | (108,449) |  |
Restructuring and related charges(3) |  |  |  |  |  |  | (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) |  |
(1) | Our Held for Sale or Sold segment is excluded from the segment results as all businesses within this segment were sold prior to the start of the reporting period presented. See Note 4, “Acquisition and Divestitures” for more details on the divestitures.
(2) | Corporate expenses include certain costs that are not allocated to the reportable segments.
(3) | See Note 7, “Restructuring and Related Charges” and Note 11, “Goodwill and Intangible Assets” for more information of these charges by segment.
(4) | In the year ended April 30, 2026, we settled a litigation matter related to consideration for a previous acquisition for $0.1 million which is included in Corporate Operating and administrative expenses.
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, 2026, 2025, and 2024. Depreciation and amortization expense were as follows:
|  |  |  |  | For the Years Ended April 30, |
|  |  |  |  | 2026 |  | 2025 |  | 2024 |
Research |  |  |  |  | $ | 92,472 |  |  | $ | 89,302 |  |  | $ | 93,422 |  |
Learning |  |  |  |  | 41,148 |  |  | 43,900 |  |  | 57,696 |  |
Held for Sale or Sold |  |  |  |  | — |  |  | — |  |  | 3,437 |  |
Total depreciation and amortization |  |  |  |  | $ | 133,620 |  |  | $ | 133,202 |  |  | $ | 154,555 |  |
Corporate depreciation and amortization |  |  |  |  | 9,857 |  |  | 13,924 |  |  | 22,434 |  |
Total depreciation and amortization |  |  |  |  | $ | 143,477 |  |  | $ | 147,126 |  |  | $ | 176,989 |  |
Revenue by geographical area is attributed based on the location of the legal entity that recognized the revenue. Previously, revenue was attributed based on the location of the customer. We believe the change to revenue attributed based upon legal entity better reflects the geographical profile of our revenue and how we manage our operations. Prior period information has been recast to reflect this change. Revenue from external customers by geographical area was as follows:
| For the Years Ended April 30, |
| 2026 |  | 2025 |  | 2024 |
United States | $ | 854,540 |  |  | $ | 848,575 |  |  | $ | 988,129 |  |
United Kingdom | 490,431 |  |  | 498,934 |  |  | 520,418 |  |
Germany | 192,291 |  |  | 183,044 |  |  | 172,855 |  |
Other countries | 139,266 |  |  | 147,056 |  |  | 191,585 |  |
Total | $ | 1,676,528 |  |  | $ | 1,677,609 |  |  | $ | 1,872,987 |  |
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:
| 2026 |  | 2025 |  | 2024 |
United States | $ | 157,172 |  |  | $ | 185,610 |  |  | $ | 213,192 |  |
United Kingdom | 21,187 |  |  | 25,315 |  |  | 27,584 |  |
Other countries | 15,029 |  |  | 17,328 |  |  | 20,736 |  |
Total | $ | 193,388 |  |  | $ | 228,253 |  |  | $ | 261,512 |  |
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.

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- 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/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 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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