v3.26.1
Equity Incentive Plan and Share Based Compensation (Tables)
12 Months Ended
Apr. 30, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Incentive Units/Stock Options Activity The following table summarizes Incentive Units activity:

 

 

Incentive Units

 

Outstanding at April 30, 2024

 

2,130,143

 

Granted

 

1,192,999

 

Forfeited / repurchased

 

(192,405

)

Exchanged into common shares

 

(3,130,737

)

Outstanding at April 30, 2025

 

Summary of Restricted Stock Unit Activity

Restricted stock unit activity for the year ended April 30, 2026 is as follows:

 

 

Number of restricted units

 

 

Weighted average grant date fair value

 

Outstanding at April 30, 2025

 

 

 

$

 

Granted

 

2,655,737

 

 

 

17.56

 

Forfeited

 

(155,779

)

 

 

16.95

 

Outstanding at April 30, 2026

 

2,499,958

 

 

$

17.60

 

Summary of Fair Value of the Market-Based Restricted Stock Units Granted Using a Monte Carlo Simulation

The Company estimated the fair value of the market-based restricted stock units granted using a Monte Carlo simulation model with the following assumptions:

 

 

April 30, 2026

 

Expected volatility

 

54.6

%

Expected term

1.76 years

 

Risk free rate

 

3.91

%

Fair value of underlying common stock

$

17.30

 

Weighted average grant-date fair value per share

$

20.25

 

Summary of Share-based Compensation Expense

The Company recorded share-based compensation in the following expense categories of its consolidated statements of operations and comprehensive loss:

 

 

 

Year Ended April 30,

 

 

 

2026

 

 

2025

 

Research and development

 

$

3,601

 

 

$

1,964

 

Selling, general and administrative

 

 

30,043

 

 

 

22,307

 

Total share-based compensation expense

 

$

33,644

 

 

$

24,271

 

Stock Options  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Incentive Units/Stock Options Activity

Stock options activity for the year ended April 30, 2026 is as follows:

 

 

Number of options

 

 

Weighted average exercise price

 

 

Weighted average remaining contractual life (in years)

 

 

Aggregate intrinsic value (in thousands)

 

Balance at April 30, 2025

 

4,649,100

 

 

$

17.04

 

 

 

9.85

 

 

$

32,640

 

Forfeited

 

(109,721

)

 

 

17.38

 

 

 

 

 

 

 

Exercised

 

(34,871

)

 

 

17.00

 

 

 

 

 

 

 

Balance at April 30, 2026

 

4,504,508

 

 

 

17.04

 

 

 

8.85

 

 

 

16,675

 

Vested and exercisable at April 30, 2026

 

3,182,286

 

 

 

17.04

 

 

 

8.85

 

 

 

11,768