Income Taxes |
3 Months Ended |
|---|---|
Jul. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company recorded a benefit from income taxes of $0.5 million and a provision for income taxes of $24.6 million for the three months ended July 31, 2026 and 2025, respectively. The calculation of income taxes is based upon the estimated annual effective tax rates for the year applied to the current period income before tax plus the tax effect of any significant unusual items, discrete events, or changes in tax law. The Company’s effective tax rate is affected by recurring items, such as tax rates in jurisdictions both within and outside the Netherlands and the relative amounts of income that is earned in those jurisdictions, non-deductible stock-based compensation, one-time tax benefits or charges, and Base Erosion and Anti-abuse Tax (“BEAT”) legislation in the United States. The Company assesses uncertain tax positions in accordance with ASC 740-10, Accounting for Uncertainties in Tax. The Company anticipates that the amount of reasonably possible unrecognized tax benefits that could decrease over the next twelve months due to the expiration of certain statutes of limitations and settlement of tax audits is not material to the Company’s condensed consolidated financial statements. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law, introducing significant changes to U.S. federal tax law. In accordance with ASC 740, Accounting for Income Taxes, and based on available guidance, the Company has reflected the effects of the OBBBA in the condensed consolidated financial statements for the three months ended July 31, 2026 and 2025. Some aspects of the legislation remain subject to further clarification and interpretive guidance. The Company continues to assess the impact of the law on the Company’s condensed consolidated financial statements and will update the estimates as additional guidance becomes available. In 2021, the Organization for Economic Cooperation and Development (“OECD”) published Pillar Two Model Rules defining a global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules concerning the implementation of the Pillar Two global minimum tax. Many countries in which the Company operates continue to announce changes in their tax laws and regulations based on the Pillar Two framework. The Company determined that Pillar Two did not have a material impact on the Company’s benefit from income taxes for the three months ended July 31, 2026. The Company continues to monitor the impact of proposed and enacted global tax legislation. In January 2026, the OECD formally published a new package of administrative guidance including the side-by-side safe harbor, which codified the framework first outlined in the June 28, 2025 statement of the Group of Seven (“G7”) nations, comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Certain aspects of the framework remain subject to interpretation as the jurisdictions continue to refine administrative procedures.
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