Revenue

12 Months Ended

Apr. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregation of Revenue

The following table presents revenue by geographical region (in thousands):

	Fiscal Year Ended April 30,
	2025		2024		2023
North America(1)	$	346,217	$	269,895	$	210,501
Europe, the Middle East and Africa(1)	40,748		35,809		47,758
Asia Pacific(1)	286		3,622		7,913
Rest of World(1)	1,805		1,256		623
Total revenue	$	389,056	$	310,582	$	266,795

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(1)The United States comprised 86%, 86% and 79% of the Company’s revenue in the fiscal years ended April 30, 2025, 2024 and 2023, respectively. No other country comprised 10% or greater of the Company’s revenue for each of the fiscal years ended April 30, 2025, 2024 and 2023.

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 $94.2 million, $29.6 million, and $18.0 million for the fiscal years ended April 30, 2025, 2024 and 2023, respectively.

Total professional services revenue comprised of (in thousands):

	Fiscal Year Ended April 30,
	2025		2024		2023
Prioritized engineering services	$	43,032	$	25,972	$	29,087
Service fees	18,394		6,506		7,265
Total professional services revenue	$	61,426	$	32,478	$	36,352

Deferred Revenue

As of April 30, 2025 and 2024, the Company’s deferred revenue balances were $36.6 million and $39.0 million, respectively. Revenue of $38.5 million and $47.8 million was recognized during the fiscal years ended April 30, 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 $235.1 million as of April 30, 2025, which includes $66.5 million of non-cancellable commitments where actual product selection and quantities of specific products or services will be determined at a later date. Approximately $129.2 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.

Costs to Obtain a Contract

As of April 30, 2025 and 2024, the amount of costs to obtain a contract included in prepaid expenses and other current assets was $7.1 million and $7.0 million, respectively. The amount of costs to obtain a contract included in other assets, non-current as of April 30, 2025 and 2024 were $7.9 million and $11.0 million, respectively. Expenses recognized for costs to obtain a contract for the years ended April 30, 2025, 2024 and 2023 were $13.5 million, $7.2 million and $5.9 million, respectively, and are included in sales and marketing expenses on the consolidated statements of operations. The Company recognized immaterial impairment costs related to costs to obtain or fulfill a contract for the fiscal years ended April 30, 2025, 2024 and 2023, respectively.

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 19% and 12% of revenue for the fiscal year ended April 30, 2025. Two separate Customer-Entities accounted for 27% and 14% of revenue for the fiscal year ended April 30, 2024. One Customer-Entity accounted for 35% of revenue for the year ended April 30, 2023. Three separate Customer-Entities accounted for 15%, 14%, and 12% of accounts receivable at April 30, 2025. Two separate Customer-Entities accounted for 25% and 16% of accounts receivable at April 30, 2024.