Balance Sheet Details

12 Months Ended

Apr. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property and Equipment, Net

Property and equipment consisted of the following at April 30, 2022 and 2021 (in thousands):


	Useful Life	As of April 30,
	(in months)	2022		2021
Leasehold improvements	*	$	8,878	$	8,658
Computer equipment	36	3,321		2,539
Office furniture and equipment	60	348		339
Capital in progress	NA	11,261		—
Total property and equipment		23,808		11,536
Less accumulated depreciation		(9,291)		(5,403)
Property and equipment, net		$	14,517	$	6,133

__________________

*Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

NA = Not Applicable

Depreciation and amortization expense related to property and equipment was $4.4 million, $4.0 million, and $1.2 million for the fiscal years ended April 30, 2022, 2021 and 2020.

Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following at April 30, 2022 and 2021 (in thousands):


	As of April 30,
	2022		2021
Accrued bonus	$	16,078	$	12,216
Accrued vacation	3,814		3,935
Accrued payroll taxes and benefits	3,593		3,405
Accrued commission	1,440		1,863
Accrued salaries	7,298		410
Accrued compensation and employee benefits	$	32,223	$	21,829

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at April 30, 2022 and 2021 (in thousands):


	As of April 30,
	2022		2021
Liability for common stock exercised prior to vesting	$	1,970	$	5,331
Commissions payable to a related party	2,510		3,413
Accrued general expenses	4,972		3,588
Operating lease liabilities, current	3,613		3,894
Other	1,809		2,092
Accrued and other current liabilities	$	14,874	$	18,318

Refer to Note 6. Leases for more information regarding the Company’s leases.

Cares Act Loan

On May 1, 2020, the Company entered into Paycheck Protection Program (“PPP”) Promissory Note and Agreement with Bank of America, pursuant to which the Company received loan proceeds of $6.3 million (the “PPP Loan”). The PPP Loan was made under, and was subject to the terms and conditions of, the PPP which was established under the CARES Act and is administered by the U.S. Small Business Administration. The term of the PPP Loan was two years with a maturity date of May 1, 2022 and contains a favorable fixed annual interest rate of 1.00%. Payments of principal and interest on the PPP Loan were deferred for the first six months of the term of the PPP Loan until November 1, 2020. Principal and interest were payable monthly and could be prepaid by the Company at any time prior to maturity with no prepayment penalties. On August 18, 2020, the Company repaid in full the PPP loan outstanding, including accrued interest of $0.1 million, in the amount of $6.4 million.