v3.26.1
Fair Value Measurements (Tables)
12 Months Ended
Apr. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on Recurring Basis
The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2026 (in thousands):
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents:
Money market funds$505,672 $— $— $505,672 
Corporate debt securities
— 3,002 — 3,002 
Municipal securities— 2,011 — 2,011 
Total included in cash equivalents
505,672 5,013 — 510,685 
Marketable securities:
U.S. treasury securities108,761 — — 108,761 
Corporate debt securities— 316,523 — 316,523 
Certificates of deposit— 62,611 — 62,611 
International treasuries— 42,558 — 42,558 
Municipal securities— 41,679 — 41,679 
U.S. agency securities
— 22,699 — 22,699 
Commercial paper— 6,706 — 6,706 
Total marketable securities108,761 492,776 — 601,537 
Mutual fund investments (1)
5,140 — — 5,140 
Total financial assets$619,573 $497,789 $— $1,117,362 
(1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of other assets, non-current on the Company’s consolidated balance sheets.
The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2025 (in thousands):
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents:
Money market funds$197,710 $— $— $197,710 
U.S. treasury securities
90,642 — — 90,642 
U.S. agency securities— 20,001 — 20,001 
Commercial paper— 9,462 — 9,462 
Certificates of deposit— 6,020 — 6,020 
Corporate debt securities
— 3,128 — 3,128 
Total included in cash equivalents
288,352 38,611 — 326,963 
Marketable securities:
U.S. treasury securities113,440 — — 113,440 
Corporate debt securities— 390,077 — 390,077 
Certificates of deposit— 63,377 — 63,377 
International treasuries
— 40,135 — 40,135 
Municipal securities
— 34,966 — 34,966 
Commercial paper— 17,739 — 17,739 
U.S. agency securities— 9,983 — 9,983 
Total marketable securities113,440 556,277 — 669,717 
Mutual fund investments (1)
2,646 — — 2,646 
Total financial assets$404,438 $594,888 $— $999,326 
(1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of other assets, non-current on the Company’s consolidated balance sheets.
The fair value of available-for-sale securities, by remaining contractual maturity, are as follows (in thousands):
As of April 30,
20262025
Due within 1 year$304,833 $368,374 
Due between 1 year and 3 years296,704 299,522 
Due between 3 years and 5 years— 1,821 
Total marketable securities$601,537 $669,717