v3.25.4
Leases
 9 Months Ended
Jan. 31, 2026
Leases [Abstract]  
Leases Leases
The Company’s lease portfolio is comprised of operating leases for office space and equipment and finance leases for equipment. Equipment leases are comprised of vehicles and office equipment. During the nine months ended January 31, 2026, at the request of a landlord, the Company modified an office lease to shorten the lease term and in return the landlord agreed to pay the Company a fixed cash incentive. As a result of the office lease modification, the Company recorded a $13.9 million gain during the nine months ended January 31, 2026 that was included in general and administrative expenses in the accompanying condensed consolidated statements of income. During the three and nine months ended January 31, 2025, the Company reduced its real estate footprint and as a result recognized an impairment charge of ROU assets of $2.5 million, included in general and administrative expenses in the accompanying condensed consolidated statements of income.
The components of lease expense were as follows:
Three Months Ended
January 31,		Nine Months Ended
January 31,
2026202520262025
(in thousands)
Finance lease cost
Amortization of ROU assets$462 $352 $1,298 $1,093 
Interest on lease liabilities51 41 146 135 
513 393 1,444 1,228 
Operating lease cost11,858 11,774 36,577 35,865 
Short-term lease cost205 226 636 654 
Variable lease cost2,746 2,763 8,244 8,131 
Gain on modification of office lease — — (13,907)— 
Lease impairment cost— 2,452 — 2,452 
Sublease income(1,578)(1,309)(4,756)(3,668)
Total lease cost$13,744 $16,299 $28,238 $44,662 
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
January 31,
20262025
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$33,204 $37,372 
Financing cash flows from finance leases$1,498 $1,211 
ROU assets obtained in exchange for lease obligations:
Operating leases$21,720 $20,908 
Finance leases$2,180 $393 
Maturities of lease liabilities were as follows:
Year Ending April 30,OperatingFinancing
(in thousands)
2026 (excluding the nine months ended January 31, 2026)
$10,606 $517 
2027
34,914 1,801 
2028
30,634 1,483 
2029
24,631 434 
2030
18,887 159 
Thereafter87,144 40 
Total lease payments206,816 4,434 
Less: imputed interest44,765 292 
Total$162,051 $4,142 
Leases Leases
The Company’s lease portfolio is comprised of operating leases for office space and equipment and finance leases for equipment. Equipment leases are comprised of vehicles and office equipment. During the nine months ended January 31, 2026, at the request of a landlord, the Company modified an office lease to shorten the lease term and in return the landlord agreed to pay the Company a fixed cash incentive. As a result of the office lease modification, the Company recorded a $13.9 million gain during the nine months ended January 31, 2026 that was included in general and administrative expenses in the accompanying condensed consolidated statements of income. During the three and nine months ended January 31, 2025, the Company reduced its real estate footprint and as a result recognized an impairment charge of ROU assets of $2.5 million, included in general and administrative expenses in the accompanying condensed consolidated statements of income.
The components of lease expense were as follows:
Three Months Ended
January 31,		Nine Months Ended
January 31,
2026202520262025
(in thousands)
Finance lease cost
Amortization of ROU assets$462 $352 $1,298 $1,093 
Interest on lease liabilities51 41 146 135 
513 393 1,444 1,228 
Operating lease cost11,858 11,774 36,577 35,865 
Short-term lease cost205 226 636 654 
Variable lease cost2,746 2,763 8,244 8,131 
Gain on modification of office lease — — (13,907)— 
Lease impairment cost— 2,452 — 2,452 
Sublease income(1,578)(1,309)(4,756)(3,668)
Total lease cost$13,744 $16,299 $28,238 $44,662 
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
January 31,
20262025
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$33,204 $37,372 
Financing cash flows from finance leases$1,498 $1,211 
ROU assets obtained in exchange for lease obligations:
Operating leases$21,720 $20,908 
Finance leases$2,180 $393 
Maturities of lease liabilities were as follows:
Year Ending April 30,OperatingFinancing
(in thousands)
2026 (excluding the nine months ended January 31, 2026)
$10,606 $517 
2027
34,914 1,801 
2028
30,634 1,483 
2029
24,631 434 
2030
18,887 159 
Thereafter87,144 40 
Total lease payments206,816 4,434 
Less: imputed interest44,765 292 
Total$162,051 $4,142