Other Income

12 Months Ended

Apr. 30, 2022

Other Nonoperating Income (Expense) [Abstract]

Other Income

Note 13. Other Income

As of April 30, 2022 and 2021, the Company had research and development tax credits receivable totaling $14.1 million and $10.4 million, respectively. This tax credit is related to a tax scheme for small and medium enterprises in the United Kingdom as well as an R&D expenditure credit system that allows the Company to file a claim for cash credit in proportion to the Company’s R&D expenditure for the year. This amount is included in other income, as it is a refundable credit that does not depend on the Company’s ongoing tax status or position. The Company recognized $15.3 million, $9.8 million and $9.5 million related to these programs in the years ended April 30, 2022, 2021 and 2020, respectively. For the years ended April 30, 2022, 2021 and 2020 other income also included ($0.6 million), $0.2 million, and $0.3 million of realized (loss) gain from the sale of available for sale securities, respectively.