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Cash Equivalents and Marketable Securities
 12 Months Ended
Apr. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Marketable Securities Cash Equivalents and Marketable Securities
The following table summarizes the Company’s cash equivalents and available-for-sale marketable securities (in thousands):
As of April 30, 2024As of April 30, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Cash equivalents:
Money market funds$82,564 $— $— $82,564 $75,293 $— $— $75,293 
Commercial paper18,769 — — 18,769 112,851 — — 112,851 
U.S. treasury securities5,888 — — 5,888 — — — — 
Certificates of deposit— — — — 2,000 — — 2,000 
Available-for-sale marketable securities:
U.S. treasury securities2,497 — — 2,497 27,445 1 (49)27,397 
Certificates of deposit62,017 — — 62,017 61,025 — — 61,025 
U.S. government agencies securities46,527 5 (104)46,428 75,650 111 (87)75,674 
Commercial paper162,183 — — 162,183 184,230 — — 184,230 
Corporate debt securities310,557 64 (526)310,095 179,608 115 (476)179,247 
Total cash equivalents and available-for-sale marketable securities$691,002 $69 $(630)$690,441 $718,102 $227 $(612)$717,717 
The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the consolidated balance sheet as of April 30, 2024.
The following table summarizes the Company’s available-for-sale marketable securities by contractual maturity (in thousands):
As of April 30, 2024As of April 30, 2023
Amortized CostFair ValueAmortized CostFair Value
Within one year$514,747 $514,484 $446,629 $446,155 
After one year through five years69,034 68,736 81,329 81,418 
Total$583,781 $583,220 $527,958 $527,573 
The following table summarizes the fair values and unrealized losses of the Company’s available-for-sale marketable securities classified by length of time that the securities have been in a continuous unrealized loss position but were not deemed to be other-than-temporarily impaired, as of April 30, 2024 and 2023 (in thousands):
As of April 30, 2024
Less Than 12 Months12 Months or GreaterTotal
Unrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesFair Value
U.S. treasury securities$— $2,497 $— $— $— $2,497 
U.S. government agencies securities(99)33,890 (6)7,749 $(105)$41,639 
Commercial paper— 4,058 — — $— $4,058 
Corporate debt securities(491)196,907 (34)27,658 $(525)$224,565 
Total$(590)$237,352 $(40)$35,407 $(630)$272,759 
As of April 30, 2023
Less Than 12 Months12 Months or GreaterTotal
Unrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesFair Value
U.S. treasury securities$(49)$18,927 $— $— $(49)$18,927 
U.S. government agencies securities(66)12,263 (21)16,858 (87)29,121 
Commercial paper— 6,735 — — — 6,735 
Corporate debt securities(441)107,316 (36)16,577 (476)123,893 
Total$(556)$145,241 $(57)$33,435 $(612)$178,676 
As of April 30, 2024, the Company had 219 marketable securities in an unrealized loss positions. As of April 30, 2023, the Company had 119 investment positions in an unrealized loss position. The Company considers factors such as the duration, the magnitude and the reason for the decline in value, the potential recovery period, creditworthiness of the issuers of the securities and its intent to sell. For marketable securities, it also considers whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by the Company. The decline in fair value below amortized cost basis was not considered other-than-temporary as it is more likely than not that the Company will hold the securities until maturity or a recovery of the cost basis, and no significant credit-related impairment losses were recorded as of April 30, 2024 and 2023.