v3.25.2
Fair Value Measurement (Tables)
12 Months Ended
Apr. 30, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Summary of Fair Value Hierarchy Classified Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s fair value hierarchy for its classified assets and liabilities measured at fair value on a recurring basis as of April 30, 2025 and 2024.

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

April 30, 2025

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

237,595

 

 

$

 

 

$

 

Restricted cash

 

 

334

 

 

 

 

 

 

 

Total assets

 

$

237,929

 

 

$

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

Warrant liabilities

 

 

 

 

 

 

 

 

8,097

 

Total liabilities

 

$

 

 

$

 

 

$

8,097

 

 

 

 

 

 

 

 

 

 

 

April 30, 2024

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

8,249

 

 

$

 

 

$

 

Restricted cash

 

 

334

 

 

 

 

 

 

 

Total assets

 

$

8,583

 

 

$

 

 

$

 

Summary of Significant Inputs and Assumptions Used in Black-Scholes Option Pricing Model to Determine Fair Value of Warrant Liabilities

The following table presents the significant inputs and assumptions used in the Black-Scholes option pricing model to determine the fair value of the warrant liabilities as of April 30, 2025:

 

 

April 30, 2025

 

Strike price

 

$

11.54

 

Expected term (in years)

 

 

8.42

 

Expected volatility

 

 

65.0

%

Risk free rate

 

 

4.21

%

Dividend yield

 

 

0.0

%

Reconciliation of Level 3 Liabilities

A reconciliation of the Level 3 liabilities is as follows:

Fair value of warrant liabilities at issuance on March 7, 2025

 

$

5,449

 

Change in fair value of warrant liabilities

 

 

2,648

 

Fair value of Level 3 liabilities as of April 30, 2025

 

$

8,097