v3.25.2
Equity Incentive Plan (Tables)
12 Months Ended
Apr. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Incentive Units/Stock Options Activity The following table summarizes Incentive Units activity:

 

Incentive Units

 

Outstanding at April 30, 2023

 

2,087,651

 

Granted

 

141,800

 

Forfeited / repurchased

 

(99,308

)

Outstanding at April 30, 2024

 

2,130,143

 

 

 

 

Granted

 

1,192,999

 

Forfeited / repurchased

 

(192,405

)

Exchanged into Common Shares

 

(3,130,737

)

Outstanding at April 30, 2025

 

 

Summary of Share-based Compensation Expense

The Company recorded share-based compensation in the following expense categories of its consolidated statements of operations and comprehensive loss:

 

Year Ended April 30,

 

 

2025

 

 

2024

 

Research and development

$

1,964

 

 

$

174

 

Selling, general and administrative

 

22,307

 

 

 

1,314

 

Total share-based compensation expense

$

24,271

 

 

$

1,488

 

Summary of Weighted Average Significant Assumptions used in Calculations The weighted average significant assumptions used in calculating the value of the Incentive Units were summarized as follows:

 

April 30, 2024

 

Expected volatility

 

90.0

%

Expected term

1.5 years

 

Risk free rate

 

4.04

%

Dividend yield

 

0.0

%

Estimated fair value

$

5.27

 

Summary of Weighted Average Significant Assumptions Used in Calculating Value of Stock Options The weighted average significant assumptions used in calculating the value of the Stock Options were summarized as follows:

 

April 30, 2025

 

Expected volatility

 

65.0

%

Expected term

5.41 years

 

Risk free rate

 

4.04

%

Dividend yield

 

0.0

%

Stock Options  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Incentive Units/Stock Options Activity

Stock Options activity for the year ended April 30, 2025 is as follows:

 

Number of options

 

 

Weighted average exercise price

 

 

Weighted average remaining contractual life (in years)

 

 

Aggregate intrinsic value (in thousands)

 

Balance at April 30, 2024

 

 

 

$

 

 

 

 

 

$

 

Options granted

 

4,658,300

 

 

 

17.04

 

 

 

 

 

 

 

Options forfeited

 

(9,200

)

 

 

17.00

 

 

 

 

 

 

 

Balance at April 30, 2025

 

4,649,100

 

 

 

17.04

 

 

 

9.85

 

 

 

32,640

 

Options vested at April 30, 2025

 

1,658,100

 

 

 

17.07

 

 

 

9.85

 

 

 

11,600

 

Options exercisable at April 30, 2025

 

 

 

$

 

 

 

 

 

$