Income Taxes |
3 Months Ended |
|---|---|
Jul. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 12. Income Taxes
The provision for income taxes for the three months ended July 31, 2025 was $2.2 million, compared to $0 for the prior-year period. The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes. These standards establish financial accounting and reporting standards for the effects of income taxes that result from an enterprise’s activities during the current and preceding years. The Company takes an asset and liability approach for financial accounting and reporting of income taxes. The Company pays income taxes in the UK based on the profits realized, which can be significantly impacted by terms of intercompany transactions between the Company and its UK affiliate. Deferred tax assets and liabilities are created in this process. The Company has netted these deferred tax assets and deferred tax liabilities by jurisdiction. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be ultimately realized. |