Income Taxes (Tables)

12 Months Ended

Apr. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Net Loss Before Income Taxes

The components of the Company’s net loss before provision for income taxes for the fiscal years ended April 30, 2024, 2023 and 2022 were as follows (in thousands):

	Fiscal Year Ended April 30,
	2024		2023		2022
Domestic	$	(282,036)	$	(270,280)	$	(189,891)
Foreign	3,132		2,116		(1,385)
Net loss before provision for income taxes	$	(278,904)	$	(268,164)	$	(191,276)

Schedule of Provision for Income Tax Expenses

The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2024, 2023 and 2022 were as follows (in thousands):

	Fiscal Year Ended April 30,
	2024		2023		2022
Current expense
Federal	$	—	$	—	$	—
State	293		306		310
Foreign	499		369		479
Total	792		675		789
Deferred expense
Federal	—		—		—
State	—		—		—
Foreign	—		—		—
Total	—		—		—
Total provision for income taxes	$	792	$	675	$	789

Schedule of Federal Statutory Rate to Effective Tax Rate Reconciliation

The reconciliation of U.S. federal statutory rate to the Company’s effective tax rate was follows (in thousands):

	Fiscal Year Ended April 30,
	2024		2023		2022
Expected benefit at federal statutory rate	$	(58,570)	$	(56,314)	$	(40,119)
State tax expense—net of federal benefit	292		306		310
Impact of foreign operations	(158)		(75)		770
Federal research and development credit	(3,087)		(2,489)		(1,109)
Change in valuation allowance	66,556		32,481		59,450
Stock-based compensation	(5,001)		25,806		(19,152)
Meals and entertainment	207		95		50
Other permanent items	553		865		589
Total provision for income taxes	$	792	$	675	$	789

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of April 30, 2024 and 2023 were as follows (in thousands):

	As of April 30,
	2024		2023
Deferred tax assets
Accrued payroll	$	5,542	$	3,971
Other accruals & reserves	5,933		5,815
Operating lease liability	13,433		8,868
Deferred revenue	1,643		2,221
Net operating losses	141,157		116,111
R&D tax credit	15,001		10,302
Stock based compensation	13,263		10,595
Capitalized R&D expenditure	72,140		30,696
Other	626		457
Gross deferred tax assets	268,738		189,036
Valuation allowance	(252,682)		(180,571)
Total deferred tax assets	16,056		8,465
Deferred tax liabilities
Prepaid expenses	(1,986)		(1,956)
Depreciation	(9,808)		(2,580)
Operating lease right-of-use assets	(4,262)		(3,929)
Total deferred tax liabilities	(16,056)		(8,465)
Net deferred tax assets (liabilities)	$	—	$	—

Schedule of Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefits was as follows (in thousands):

	As of April 30,
	2024		2023
Balance as of May 1	$	11,369	$	7,368
Increases for tax positions related to the current year	5,179		4,001
Balance as of April 30	$	16,548	$	11,369