The cost and accumulated depreciation of property and equipment were as follows (in thousands):


		As of April 30,
	Useful Life (in years)	2026		2025
Leasehold improvements	Lesser of estimated useful life or remaining lease term	$	9,774	$	14,780
Computer hardware and software	3	4,066		4,390
Furniture and fixtures	3-5	5,163		8,025
Assets under construction		3,575		33
Total property and equipment		22,578		27,228
Less: accumulated depreciation		(13,987)		(20,639)
Property and equipment, net		$	8,591	$	6,589

Depreciation expense related to property and equipment was $3.0 million, $3.1 million, and $3.5 million for the years ended April 30, 2026, 2025, and 2024, respectively.

Intangible assets consisted of the following as of April 30, 2026 (in thousands):


	Gross Fair Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	85,291	$	72,208	$	13,083	2.2



Foreign currency translation adjustment					(24)
Total					$	13,059

Intangible assets consisted of the following as of April 30, 2025 (in thousands):


	Gross Fair Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	76,130	$	64,702	$	11,428	2.2



Foreign currency translation adjustment					(24)
Total					$	11,404

Amortization expense for the intangible assets for the years ended April 30, 2026, 2025, and 2024 was as follows (in thousands):


	Year Ended April 30,
		2026		2025		2024
Cost of revenue – subscription		$	8,795	$	9,213	$	12,353
Sales and marketing		—		—		2,143
Total amortization of acquired intangible assets		$	8,795	$	9,213	$	14,496

The expected future amortization expense related to the intangible assets as of April 30, 2026 was as follows (in thousands, by fiscal year):


	Carrying Amount
Balance as of April 30, 2024	$	319,380

Foreign currency translation adjustment	37
Balance as of April 30, 2025	319,417
Additions from acquisitions	36,916
Foreign currency translation adjustment	109
Balance as of April 30, 2026	$	356,442

There was no impairment of goodwill during the years ended April 30, 2026, 2025, and 2024.

Accrued expenses and other liabilities consisted of the following (in thousands):


	As of April 30,
	2026		2025
Accrued expenses	$	44,109	$	36,585
Income taxes payable	12,899		11,690
Value added taxes payable	12,837		9,872
Accrued interest	6,918		6,918
Other	19,950		21,282
Total accrued expenses and other liabilities	$	96,713	$	86,347


	As of April 30,
	2026		2025
Accrued vacation	$	46,702	$	42,136
Accrued commissions	46,420		28,051
Accrued payroll and withholding taxes	11,138		10,007
Other	14,971		13,520
Total accrued compensation and benefits	$	119,231	$	93,714

The following is a summary of the changes in the Company’s allowance for credit losses (in thousands):


	Year Ended April 30,
	2026		2025		2024
Beginning balance	$	5,510	$	4,979	$	3,409
Bad debt expense	4,358		3,909		3,864
Accounts written off	(3,021)		(3,378)		(2,294)
Ending balance	$	6,847	$	5,510	$	4,979