v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Jul. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on Recurring Basis
The following table summarizes assets that are measured at fair value on a recurring basis as of July 31, 2026 (in thousands):
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents:
Money market funds$585,752 $— $— $585,752 
U.S. treasury securities8,499 — — 8,499 
U.S. agency securities— 8,396 — 8,396 
Certificates of deposit
— 8,331 — 8,331 
Total included in cash equivalents
594,251 16,727 — 610,978 
Marketable securities:
U.S. treasury securities94,503 — — 94,503 
Corporate debt securities— 328,865 — 328,865 
Certificates of deposit— 55,286 — 55,286 
Municipal securities— 39,612 — 39,612 
International treasuries— 39,278 — 39,278 
U.S. agency securities
— 22,710 — 22,710 
Commercial paper— 919 — 919 
Total marketable securities94,503 486,670 — 581,173 
Mutual fund investments (1)
6,200 — — 6,200 
Total financial assets$694,954 $503,397 $— $1,198,351 
(1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of other assets, non-current on the Company’s condensed consolidated balance sheets.
The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2026 (in thousands):
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents:
Money market funds$505,672 $— $— $505,672 
Corporate debt securities
— 3,002 — 3,002 
Municipal securities— 2,011 — 2,011 
Total included in cash equivalents
505,672 5,013 — 510,685 
Marketable securities:
U.S. treasury securities108,761 — — 108,761 
Corporate debt securities— 316,523 — 316,523 
Certificates of deposit— 62,611 — 62,611 
International treasuries
— 42,558 — 42,558 
Municipal securities
— 41,679 — 41,679 
U.S. agency securities— 22,699 — 22,699 
Commercial paper— 6,706 — 6,706 
Total marketable securities108,761 492,776 — 601,537 
Mutual fund investments (1)
5,140 — — 5,140 
Total financial assets$619,573 $497,789 $— $1,117,362 
(1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of other assets, non-current on the Company’s condensed consolidated balance sheets.
The fair value of available-for-sale securities, by remaining contractual maturity, are as follows (in thousands):
As of
July 31, 2026		As of
April 30, 2026
Due within 1 year$287,174 $304,833 
Due between 1 year and 3 years290,497 296,704 
Due between 3 years and 5 years3,502 — 
Total marketable securities$581,173 $601,537