Basis of Presentation and Material Accounting Policies (Tables)

3 Months Ended

Jul. 31, 2026

Investments accounted for using equity method [abstract]

Summary of Subsidiaries Using Their Historical Names which are Wholly Owned and Subject to Control


Name of Subsidiary		% Equity Interest - July 31, 2026 and April 30, 2026		Country of Incorporation		Functional Currency
ImmunoPrecise Antibodies (Canada) Ltd. d/ba/ MindWalk Biologics		100%		Canada		Canadian dollar
ImmunoPrecise Antibodies (USA) Ltd. ("IPA USA")		100%		USA		U.S. dollar
ImmunoPrecise Antibodies (N.D.) LTD		100%		USA		U.S. dollar
ImmunoPrecise Antibodies (MA) LLC		100%		USA		U.S. dollar
Talem Therapeutics LLC ("Talem")		100%		USA		U.S. dollar
ImmunoPrecise Netherlands B.V.		100%		Netherlands		Euro
BioStrand B.V. d/b/a MindWalk		100%		Belgium		Euro
Idea Family BV		100%		Belgium		Euro
BioKey BV		100%		Belgium		Euro
BioClue BV		100%		Belgium		Euro

Summary of Discontinued Operations

The following table summarizes the major classes of line items included in income from discontinued operations, net of tax, as a result of the divestiture of IPA Europe and reclassification to discontinued operations:


		Three months ended July 31,
(in thousands, except share data)		2026 $				2025 $
REVENUE			—				4,480
COST OF SALES			—				1,976
GROSS PROFIT			—				2,504
EXPENSES
Research and development			—				115
Sales and marketing			—				117
General and administrative			—				778
Amortization of intangible assets			—				109
			—				1,119
Income before other income (expenses) and income taxes			—				1,385
OTHER INCOME (EXPENSES)
Grant income			—				6
Interest, accretion and other income			—				—
Unrealized foreign exchange loss			—				(1	)
			—				5
Income before income taxes			—				1,390
Income taxes			—				(261	)
NET INCOME FROM DISCONTINUED OPERATIONS			—				1,129