v3.25.2
Segment Information
 3 Months Ended
Jul. 31, 2025
Segment Reporting [Abstract]  
Segment Information

11. Segment Information

 

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company operates in one business segment. The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM’s financial review is focused on the consolidated financial results of the Company which is used as the basis for financial performance assessment and allocation of resources.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three months ended July 31, 2025 and 2024 (in thousands):

 

 

Three Months Ended

 

 

July 31,

 

 

2025

 

 

2024

Product revenue, net

$

1,426

 

$

—

Operating expenses:

 

 

 

 

 

Cost of revenue

 

590

 

 

—

Clinical development

 

7,791

 

 

14,449

Research

 

10,329

 

 

10,560

Regulatory & QA

 

2,196

 

 

1,605

Pre-commercial planning

 

27,088

 

 

10,651

Other SG&A

 

12,441

 

 

6,950

Total operating expenses

 

60,435

 

 

44,215

(Loss) income from operations

 

(59,009)

 

 

(44,215)

Other income

 

1,070

 

 

3,772

(Loss) income before income taxes

$

(57,939)

 

$

(40,443)

Provision for (benefit from) for income taxes

 

2,157

 

 

—

Net loss

$

(60,096)

 

$

(40,443)