v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 12 Months Ended
Apr. 30, 2025
USD ($)
Apr. 30, 2024
USD ($)
Cash flows from operating activities    
Net loss $ (113,814) $ (94,120)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,968 11,560
Loss on disposal of property and equipment 2,094 1,070
Provision for uncollectible accounts receivable 2,694 500
Interest paid-in-kind 855 1,098
Amortization of debt discounts and issuance costs 1,400 610
Share-based compensation expense 24,270 1,488
Non-cash lease expense 416 729
Deferred income tax expense 64 12
Non-cash loss on debt extinguishment   930
Change in fair value of warrant liability 2,648  
Changes in operating assets and liabilities:    
Disposable medical equipment supplies (3,443) (1,177)
Prepaid expenses and other current assets (1,852) 331
Accounts receivable (8,777) (2,498)
Accounts payable 2,842 7,340
Accrued liabilities 4,617 371
Operating lease liabilities 370 (469)
Other long-term assets 40 (10)
Net cash used in operating activities (77,608) (72,235)
Cash flows from investing activities    
Purchases of property and equipment (22,936) (12,226)
Deposits for medical rental equipment (655) (288)
Refund of deposits for medical rental equipment 283 285
Net cash used in investing activities (23,308) (12,229)
Cash flows from financing activities    
Proceeds from issuance of redeemable preferred stock 103,400 75,000
Deemed dividend for payments to third party on behalf of shareholder (1,654) (799)
Proceeds from issuance of stock to non-controlling interest 17,100  
Proceeds from issuance of long-term debt   45,000
Proceeds from issuance of Common Shares 215,789  
Proceeds from capital contributions 2,374  
Payment of debt issuance costs   (2,353)
Payment of equity issuance costs (3,224)  
Repayment of long-term debt   (39,123)
Payments of IPO offering costs (3,523)  
Net cash provided by financing activities 330,262 77,725
Net increase (decrease) in cash, cash equivalents and restricted cash 229,346 (6,739)
Cash, cash equivalents and restricted cash    
Beginning of period 8,583 15,322
End of period 237,929 8,583
Reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheets    
Cash and cash equivalents 237,595 8,249
Restricted cash 334 334
Cash, cash equivalents and restricted cash 237,929 8,583
Non-cash investing and financing activities:    
Purchases of property and equipment in accrued liabilities and accounts payable 7,029 11,066
Capital contribution from West Affum LP to settle warrant obligation   1,632
IPO offering costs incurred but not yet paid 1,875  
Issuance of warrants related to long term debt 5,449  
Conversion of redeemable preferred stock into Common Shares on completion of IPO 280,510  
Supplemental disclosure of cash flow information    
Income taxes paid 83 (30)
Interest paid $ 4,851 $ 3,630