Leases

3 Months Ended

Jul. 31, 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 condensed consolidated statements of operations were as follows (in thousands):


	Three Months Ended July 31,
		2026		2025
Operating lease cost		$	1,861	$	2,634
Short-term lease cost		1,001		670
Variable lease cost		416		475
Total lease cost		$	3,278	$	3,779

Lease term and discount rate information are summarized as follows:


	As of July 31, 2026
Weighted average remaining lease term (in years)	6.2
Weighted average discount rate	5.4	%

Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of July 31, 2026 were as follows (in thousands, by fiscal year):


Remainder of 2027	$	5,244
2028	5,904
2029	4,018
2030	2,430
2031	2,265
Thereafter	9,903
Total minimum lease payments	29,764
Less imputed interest	(5,184)
Present value of future minimum lease payments	24,580
Less current lease liabilities	(5,709)
Operating lease liabilities, non-current	$	18,871