v3.26.1
Income Taxes (Tables)
 12 Months Ended
Apr. 30, 2026
Income Tax Disclosure [Abstract]  
Summary of Geographical Breakdown of Income (Loss) Before Provision for Income Taxes The geographical breakdown of loss before income taxes is summarized as follows (in thousands):
Year Ended April 30,
202620252024
Dutch$(143,468)$(135,145)$(233,089)
Foreign141,167 103,576 110,333 
Loss before income taxes$(2,301)$(31,569)$(122,756)
Summary of Provision for (Benefit from) Income Taxes
The components of the (benefit from) provision for income taxes were as follows (in thousands):
Year Ended April 30,
202620252024
Current:
Dutch$6,641 $5,815 $4,297 
Foreign19,163 15,540 24,558 
Total current tax expense25,804 21,355 28,855 
Deferred:
Dutch(431,715)448 43 
Foreign35,844 54,742 (213,374)
Total deferred tax (income) expense(395,871)55,190 (213,331)
Total (benefit from) provision for income taxes$(370,067)$76,545 $(184,476)
Summary of Reconciliation of Income Taxes Statutory Income Tax Rate to Provision for Income Taxes
Upon the adoption of ASU 2023-09, as described in Note 2, the reconciliation of taxes at the federal statutory rate to the Company’s benefit from income taxes for the fiscal year ended April 30, 2026 is as follows (in thousands, except for rates):
Year Ended April 30, 2026
TaxRate
Netherlands federal statutory tax rate$(594)25.8 %
Foreign tax effects
Brazil
Foreign withholding taxes1,756 (76.3)%
Other40 (1.7)%
Canada
Stock-based compensation1,196 (52.0)%
Research and development credit(1,034)44.9 %
Other69 (3.0)%
State and local income taxes, net of federal income tax effect502 (21.8)%
France
Stock-based compensation1,027 (44.6)%
Other(1,335)58.0 %
Israel
Gain on transfer of intellectual property1,236 (53.7)%
GAAP to stat: Book gain on transfer of intellectual property(1,414)61.5 %
Stock-based compensation1,449 (63.0)%
Other(1,191)51.8 %
Spain
Research and development credit(1,373)59.7 %
Other(8)0.4 %
United Kingdom
Valuation allowance(24,535)1,066.4 %
Prior-year adjustments4,571 (198.7)%
Stock-based compensation(2,994)130.1 %
Other537 (23.4)%
United States
BEAT waiver election51,231 (2,226.8)%
Current-year deferred only3,248 (141.2)%
Foreign-Derived Intangible Income (“FDII”)(2,052)89.2 %
Foreign rate differential(2,476)107.6 %
Global intangible low-taxed income1,386 (60.2)%
Prior-year tax adjustment(1,022)44.4 %
Research and development credit(4,989)216.9 %
Sec. 162(m) limitation5,963 (259.2)%
Stock-based compensation5,018 (218.1)%
Other605 (26.3)%
Year Ended April 30, 2026
TaxRate
State and local income taxes, net of federal income tax effect(14,722)639.9 %
Other foreign jurisdictions1,054 (45.8)%
Tax credits
Foreign tax credit(2,812)122.2 %
Nontaxable or nondeductible items
Branch profits adjustment(39)1.7 %
Meals and entertainment42 (1.8)%
Non-deductible mergers and acquisitions transaction costs223 (9.7)%
Other(5)0.1 %
Valuation allowance(390,506)16,973.4 %
Other
Prior-year adjustments(50)2.2 %
Stock-based compensation2,200 (95.6)%
Worldwide changes in unrecognized tax benefits(269)11.7 %
Effective tax rate$(370,067)16,085.0 %
A reconciliation of income taxes at the statutory income tax rate to the provision for (benefit from) income taxes included in the consolidated statements of operations for the fiscal years ended April 30, 2025 and 2024 is as follows (in thousands, except for rates):
Year Ended April 30,
20252024
Tax
Rate
Tax
Rate
Dutch statutory income tax$(8,145)25.8 %$(31,671)25.8 %
Foreign income taxed at different rates(5,561)17.6 %(2,406)2.0 %
Tax credits(13,508)42.8 %(10,149)8.3 %
Stock-based compensation(9,282)29.4 %(10,296)8.4 %
Change in valuation allowance48,539 (153.8)%(186,166)151.6 %
Intellectual property migration
610 (1.9)%7,353 (6.0)%
BEAT waiver election
45,321 (143.6)%40,141 (32.7)%
FDII exclusion(2,241)7.1 %(2,328)1.9 %
Executive compensation
6,523 (20.7)%4,091 (3.3)%
Foreign withholding taxes2,701 (8.6)%2,864 (2.3)%
State taxes
6,867 (21.8)%1,866 (1.5)%
Unrecognized tax benefit
6,713 (21.3)%1,406 (1.1)%
Tax credit add-back
1,215 (3.8)%950 (0.8)%
Meals and entertainment
598 (1.9)%566 (0.5)%
Prior-year true-ups
(3,680)11.7 %(846)0.7 %
Other(125)0.5 %149 (0.2)%
Provision for (benefit from) income taxes
$76,545 (242.5)%$(184,476)150.3 %
Summary Of Income Tax Payments
Cash paid for income taxes, net of refunds received, by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended April 30, 2026 was as follows (in thousands):
Year Ended April 30, 2026
Netherlands$3,175 
Foreign
Brazil1,533
France1,831
Germany - federal2,237 
Germany - local1,442 
Israel3,725
United States - federal3,572 
United States - states4,135 
Other6,361 
Cash paid for income taxes, net of refunds received$28,011 
Summary of Components of Deferred Tax Assets And Liabilities
Significant components of the Company’s deferred tax assets and liabilities are summarized as follows (in thousands):
As of April 30,
20262025
Deferred tax assets:
Accrued compensation$8,476 $5,837 
NOL carryforwards502,126 537,912 
Intangible assets
4,377 5,641 
Deferred revenue13,118 7,478 
Stock-based compensation29,314 20,613 
Tax credits28,371 32,271 
Disallowed interest expense13,642 13,183 
Lease liabilities3,487 4,727 
Other10,298 11,018 
Gross deferred tax assets613,209 638,680 
Less valuation allowance(4,219)(437,497)
Total deferred tax assets608,990 201,183 
Deferred tax liabilities:
Deferred contract acquisition costs(51,574)(38,629)
Right of use assets(3,108)(4,133)
Other(89)— 
Gross deferred tax liabilities(54,771)(42,762)
Net deferred tax assets
$554,219 $158,421 
Summary of Unrecognized Gross Tax Benefits The activity within the Company’s unrecognized tax benefits is summarized as follows (in thousands):
As of April 30,
202620252024
Balance as of beginning of year$29,625 $22,691 $18,157 
(Decrease) increase related to tax positions taken in prior periods(3,003)1,553 1,201 
Increase related to tax positions taken in the current period4,038 5,381 3,333 
Decrease related settlement with tax authorities(991)— — 
Balance as of end of year$29,669 $29,625 $22,691