| Schedule of Segment Reporting Information, by Segment |
The following tables present a summary of our Adjusted Operating Income (Loss) by segment, and the reconciliation to Income (loss) before taxes:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended April 30, 2026 | | | Research | | Learning | | | | Total | | | Revenue | $ | 1,129,942 | | | $ | 546,586 | | | | | $ | 1,676,528 | | | | Cost of sales | 303,702 | | | 127,807 | | | | | 431,509 | | | | Direct expenses | 331,192 | | | 136,301 | | | | | 467,493 | | | | Allocated Corporate expenses | 167,578 | | | 107,909 | | | | | 275,487 | | | | Amortization of intangible assets | 44,866 | | | 8,184 | | | | | 53,050 | | | Adjusted Operating Income by segment(1) | $ | 282,604 | | | $ | 166,385 | | | | | $ | 448,989 | | | | Reconciliation of Adjusted Operating Income by segment to Income before taxes | | | | | | | | | Adjusted unallocated Corporate expenses(2) | | | | | | | (152,819) | | | Restructuring and related charges(3) | | | | | | | (19,203) | | | | Interest expense | | | | | | | (43,848) | | | | Net foreign exchange transaction losses | | | | | | | (6,564) | | | | Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale | | | | | | | (4,828) | | | | Other expense, net | | | | | | | (6,533) | | | Legal settlement(4) | | | | | | | (108) | | | | Income before taxes | | | | | | | $ | 215,086 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended April 30, 2025 | | | Research | | Learning | | Held for Sale or Sold | | Total | | | Revenue | $ | 1,075,459 | | | $ | 584,768 | | | $ | 17,382 | | | $ | 1,677,609 | | | | Cost of sales | 278,867 | | | 144,758 | | | 7,755 | | | 431,380 | | | | Direct expenses | 336,484 | | | 142,204 | | | 10,365 | | | 489,053 | | | | Allocated Corporate expenses | 160,959 | | | 114,703 | | | 2,840 | | | 278,502 | | | | Amortization of intangible assets | 43,569 | | | 8,253 | | | — | | | 51,822 | | | | Adjusted Operating Income (Loss) by segment | $ | 255,580 | | | $ | 174,850 | | | $ | (3,578) | | | $ | 426,852 | | | | Reconciliation of Adjusted Operating Income by segment to Income before taxes | | | | | | | | | Adjusted unallocated Corporate expenses(2) | | | | | | | (179,882) | | | Restructuring and related charges(3) | | | | | | | (25,561) | | | | Interest expense | | | | | | | (52,547) | | | Net foreign exchange transaction losses | | | | | | | (8,142) | | | | Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale | | | | | | | (23,340) | | | | Other income, net | | | | | | | 5,498 | | | | Income before taxes | | | | | | | $ | 142,878 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Year Ended April 30, 2024 | | | Research | | Learning | | Held for Sale or Sold | | Total | | | Revenue | $ | 1,042,705 | | | $ | 574,739 | | | $ | 255,543 | | | $ | 1,872,987 | | | | Cost of sales | 281,109 | | | 145,054 | | | 153,559 | | | 579,722 | | | | Direct expenses | 323,392 | | | 145,514 | | | 48,127 | | | 517,033 | | | | Allocated Corporate expenses | 155,495 | | | 132,394 | | | 23,142 | | | 311,031 | | | | Amortization of intangible assets | 44,946 | | | 9,044 | | | 2,004 | | | 55,994 | | | | Adjusted Operating Income by segment | $ | 237,763 | | | $ | 142,733 | | | $ | 28,711 | | | $ | 409,207 | | | | Reconciliation of Adjusted Operating Income by segment to Income before taxes | | | | | | | | | Adjusted unallocated Corporate expenses(2) | | | | | | | (185,456) | | | Impairment of goodwill(3) | | | | | | | (108,449) | | | Restructuring and related charges(3) | | | | | | | (63,041) | | | | Interest expense | | | | | | | (49,003) | | | | Net foreign exchange transaction losses | | | | | | | (2,959) | | | | Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale | | | | | | | (183,389) | | | | Other expense, net | | | | | | | (3,957) | | | | Loss before taxes | | | | | | | $ | (187,047) | | |
| | | | | | (1) | Our Held for Sale or Sold segment is excluded from the segment results as all businesses within this segment were sold prior to the start of the reporting period presented. See Note 4, “Acquisition and Divestitures” for more details on the divestitures. | (2) | Corporate expenses include certain costs that are not allocated to the reportable segments. | (3) | See Note 7, “Restructuring and Related Charges” and Note 11, “Goodwill and Intangible Assets” for more information of these charges by segment. | (4) | In the year ended April 30, 2026, we settled a litigation matter related to consideration for a previous acquisition for $0.1 million which is included in Corporate Operating and administrative expenses. |
See Note 3, “Revenue Recognition, Contracts with Customers,” for revenue from contracts with customers disaggregated by segment and product type for the years ended April 30, 2026, 2025, and 2024. Depreciation and amortization expense were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended April 30, | | | | | | | | | | | | | | 2026 | | 2025 | | 2024 | | | Research | | | | | $ | 92,472 | | | $ | 89,302 | | | $ | 93,422 | | | | Learning | | | | | 41,148 | | | 43,900 | | | 57,696 | | | | Held for Sale or Sold | | | | | — | | | — | | | 3,437 | | | | Total depreciation and amortization | | | | | $ | 133,620 | | | $ | 133,202 | | | $ | 154,555 | | | | Corporate depreciation and amortization | | | | | 9,857 | | | 13,924 | | | 22,434 | | | | Total depreciation and amortization | | | | | $ | 143,477 | | | $ | 147,126 | | | $ | 176,989 | | |
|
| Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas |
Revenue from external customers by geographical area was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended April 30, | | | 2026 | | 2025 | | 2024 | | | United States | $ | 854,540 | | | $ | 848,575 | | | $ | 988,129 | | | | | | | | | | | United Kingdom | 490,431 | | | 498,934 | | | 520,418 | | | | Germany | 192,291 | | | 183,044 | | | 172,855 | | | | | | | | | | | Other countries | 139,266 | | | 147,056 | | | 191,585 | | | | Total | $ | 1,676,528 | | | $ | 1,677,609 | | | $ | 1,872,987 | | |
Total long-lived assets, consisting of technology, property and equipment, net and operating lease ROU assets by geographical area as of April 30 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | 2024 | | | United States | $ | 157,172 | | | $ | 185,610 | | | $ | 213,192 | | | | United Kingdom | 21,187 | | | 25,315 | | | 27,584 | | | | Other countries | 15,029 | | | 17,328 | | | 20,736 | | | | Total | $ | 193,388 | | | $ | 228,253 | | | $ | 261,512 | | |
|