Leases

12 Months Ended

Apr. 30, 2026

The Company’s leases provide for rental of corporate office space under non-cancelable operating lease agreements that expire at various dates through fiscal 2036. The Company does not have any finance leases.

Lease Costs

Components of lease costs included in the consolidated statements of operations were as follows (in thousands):


	Year Ended April 30,
		2026		2025		2024
Operating lease cost		$	9,083	$	11,102	$	12,114
Short-term lease cost		2,831		2,232		1,921
Variable lease cost		1,683		1,456		1,342
Total lease cost		$	13,597	$	14,790	$	15,377

Lease term and discount rate information are summarized as follows:


	As of April 30, 2026
Weighted average remaining lease term (in years)	5.4
Weighted average discount rate	5.3	%

Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of April 30, 2026 were as follows (in thousands, by fiscal year):


2027	$	7,491
2028	5,167
2029	3,070
2030	1,435
2031	1,237
Thereafter	5,768
Total minimum lease payments	24,168
Less imputed interest	(3,500)
Present value of future minimum lease payments	20,668
Less current lease liabilities	(6,539)
Operating lease liabilities, non-current	$	14,129

During the year ended April 30, 2026, the Company executed an operating lease agreement for an office space with an expected commencement date in the first quarter of fiscal 2027 and a lease term of approximately 8.5 years. The undiscounted future minimum lease payments as of April 30, 2026 are approximately $7.9 million.