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Revenue
 9 Months Ended
Jan. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table presents revenue by geographical region (in thousands):
Three Months Ended January 31,Nine Months Ended January 31,
2025202420252024
North America (1)
$87,289 $68,356 $248,838 $191,247 
Europe, the Middle East and Africa (1)
11,085 9,040 29,978 29,205 
Asia Pacific (1)
13 952 274 2,877 
Rest of World (1)
395 53 1,243 663 
Total revenue$98,782 $78,401 $280,333 $223,992 
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(1)The United States comprised 86% and 86% of the Company’s revenue for the three months ended January 31, 2025 and 2024, respectively, and 87% and 85% of the Company’s revenue for the nine months ended January 31, 2025 and 2024, respectively. No other country comprised 10% or greater of the Company’s revenue for the three and nine months ended January 31, 2025 or 2024.
Revenue is recognized at the time the related performance obligation is satisfied with the transfer of a promised good or service to a customer over time. For the significant majority of the Company’s offerings, software and maintenance and support services are highly interdependent and interrelated and represent a single performance obligation within the context of the contract and are generally satisfied over time. Revenue from software licenses that do not require maintenance and support services is recognized when the control of the software is transferred to the customer. Revenue from such software licenses was $28.6 million and $8.4 million during the three months ended January 31, 2025 and 2024, respectively, and $60.4 million and $15.4 million during the nine months ended January 31, 2025 and 2024, respectively.
Professional Services revenue primarily include service fees and prioritized engineering services. Service fees include revenue from services such as consulting, training, and paid implementation services. For service fees, revenue is typically recognized over time as the services are performed. Prioritized engineering services are undertaken when a customer requests that the Company accelerate the design, development, and delivery of software features and functions that are planned in future product roadmap. When the Company agrees to this, an agreed upon fee is negotiated to accelerate the development of the software as well as other terms, such as relevant specifications. When the software feature is delivered, it becomes integrated to the Company’s core product offering, is available to all subscribers of the underlying software product and enhances the operation of that product going forward. Such prioritized engineering services result in production-level computer software – compiled code that enhances the functionality of our production products – which is available for customers to use over the life of their software licenses. Prioritized engineering services revenue is recognized as professional services over the period in which the software development is completed.

Total professional services revenue comprised of (in thousands):

Three Months Ended January 31,
Nine Months Ended January 31,
2025202420252024
Prioritized engineering services$5,698 $7,125 $26,008 $20,225 
Service fees7,405 876 14,028 5,566 
Total professional services revenue$13,103 $8,001 $40,036 $25,791 
Deferred Revenue
As of January 31, 2025 and April 30, 2024, the Company’s deferred revenue balances were $33.0 million and $39.0 million, respectively. Revenue of $37.8 million and $46.3 million was recognized during the nine months ended January 31, 2025 and 2024, respectively, that was included in the deferred revenue balances as of April 30, 2024 and 2023, respectively.
Remaining Performance Obligation
Remaining performance obligations are committed and represent non-cancellable contracted revenue that has not yet been recognized and will be recognized as revenue in future periods. Some contracts allow customers to cancel the contracts without a significant penalty, and the cancellable amount of contract value is not included in the remaining performance obligations.
The Company excludes amounts related to performance obligations and usage-based royalties that are billed and recognized as they are delivered or billed and recognized in the same period. This primarily consists of monthly usage-based runtime and hosting charges in the duration of some revenue contracts.
Revenue expected to be recognized from remaining performance obligations was approximately $208.2 million as of January 31, 2025, which includes $74.6 million of non-cancellable commitments where actual product selection and quantities of specific products or services will be determined at a later date. Approximately $124.0 million is expected to be recognized over the next 12 months and a majority of the remaining amount is expected to be recognized over the next 13 to 48 months.
Customer Concentration and Accounts Receivable
A majority of the Company’s Customer-Entities consist of corporate and governmental entities. A Customer-Entity is defined as each entity that is the ultimate parent of a party contracting with the Company. A limited number of Customer-Entities have accounted for a large part of the Company’s revenue and accounts receivable to date. For the purpose of determining customer concentration and accounts receivable, unbilled receivables have been excluded from the accounts receivable balance. Two separate Customer-Entities accounted for 15% and 10%, respectively, of revenue for the three months ended January 31, 2025. Two separate Customer-Entities accounted for 25% and 12%, respectively, of revenue for the three months ended January 31, 2024. One Customer-Entity accounted for 18% of revenue for the nine months ended January 31, 2025. Two separate Customer-Entities accounted for 27% and 13%, respectively, of revenue for the nine months ended January 31, 2024. Four Customer-Entities accounted for 14%, 14%, 13% and 11%, respectively, of accounts receivable at January 31, 2025. Two separate Customer-Entities accounted for 25% and 16%, respectively, of accounts receivable at April 30, 2024.
Accounts receivable includes billed and unbilled receivables, net of allowance of doubtful accounts. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The allowance for credit losses is based on the Company’s assessment of the collectability of accounts receivable by considering various factors, including the age of each outstanding invoice, customer type, the collection history of each customer, historical write-off experience, current and near-term macroeconomic conditions and uncertainties. The expectation of collectability is based on a review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. Accounts receivable included unbilled receivables as of January 31, 2025 and April 30, 2024 of $89.8 million and $62.3 million, respectively.