Income Taxes (Tables)

12 Months Ended

Apr. 30, 2025

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, 2025, 2024 and 2023 were as follows (in thousands):

	Fiscal Year Ended April 30,
	2025		2024		2023
Domestic	$	(291,153)	$	(282,036)	$	(270,280)
Foreign	3,427		3,132		2,116
Net loss before provision for income taxes	$	(287,726)	$	(278,904)	$	(268,164)

Schedule of Provision for Income Tax Expenses

The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2025, 2024 and 2023 were as follows (in thousands):

	Fiscal Year Ended April 30,
	2025		2024		2023
Current expense
Federal	$	—	$	—	$	—
State	273		293		306
Foreign	670		499		369
Total	943		792		675
Deferred expense
Federal	—		—		—
State	—		—		—
Foreign	33		—		—
Total	33		—		—
Total provision for income taxes	$	976	$	792	$	675

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,
	2025		2024		2023
Expected benefit at federal statutory rate	$	(60,422)	$	(58,570)	$	(56,314)
State tax expense—net of federal benefit	272		292		306
Impact of foreign operations	(156)		(158)		(75)
Federal research and development credit	(3,562)		(3,087)		(2,489)
Change in valuation allowance	64,770		66,556		32,481
Stock-based compensation	(1,072)		(5,001)		25,806
Meals and entertainment	228		207		95
Other permanent items	918		553		865
Total provision for income taxes	$	976	$	792	$	675

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of April 30, 2025 and 2024 were as follows (in thousands):

	As of April 30,
	2025		2024
Deferred tax assets
Accrued payroll	$	7,483	$	5,542
Other accruals & reserves	3,423		5,933
Operating lease liability	13,696		13,433
Deferred revenue	1,354		1,643
Net operating losses	179,554		141,157
R&D tax credit	20,396		15,001
Stock based compensation	15,710		13,263
Capitalized R&D expenditure	93,759		72,140
Other	362		626
Gross deferred tax assets	335,737		268,738
Valuation allowance	(320,939)		(252,682)
Total deferred tax assets	14,798		16,056
Deferred tax liabilities
Prepaid expenses	(1,774)		(1,986)
Depreciation	(8,635)		(9,808)
Operating lease right-of-use assets	(4,389)		(4,262)
Total deferred tax liabilities	(14,798)		(16,056)
Net deferred tax assets (liabilities)	$	—	$	—

Schedule of Unrecognized Tax Benefits Roll Forward

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,
	2025		2024
Balance as of May 1	$	16,548	$	11,369
Increases for tax positions related to the prior year	70		—
Increases for tax positions related to the current year	5,943		5,179
Balance as of April 30	$	22,561	$	16,548