Stockholders' Equity

12 Months Ended

Apr. 30, 2025

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Share Repurchase Program

On December 2, 2024, the Company’s Board of Directors approved a new share repurchase program authorizing the Company to repurchase up to $250.0 million of its outstanding common stock (such new repurchase program, the “2024 Repurchase Plan”). The 2024 Repurchase Plan replaces the Company’s previous share repurchase authorization of $250.0 million. The Company may conduct repurchases under the 2024 Repurchase Plan through a variety of methods, which may include open market transactions, block trades, accelerated share repurchases, under trading plans in accordance with SEC Rule 10b5-1, in privately negotiated transactions or in any combination of such methods, in each case in compliance with Rule 10b-18 under the Exchange Act. The timing and amount of any purchases of our common stock are subject to a variety of factors, including, but not limited to, our liquidity, credit availability, general business and market conditions, stock price, our debt covenants and the availability of alternative investment opportunities. The 2024 Repurchase Program does not obligate the Company to acquire any amount of common stock, and it may be suspended or terminated at any time at the Company’s discretion. As of April 30, 2025, the Company had $192.0 million of remaining repurchase authorization under its stock repurchase program. 

Share repurchases in excess of issuances are subject to a 1% excise tax. The Company includes the applicable excise tax as part of the cost basis of the shares acquired and records the taxes as a liability in accrued expenses and other liabilities in the Consolidated Balance Sheet.

Shares repurchased pursuant to the Company’s share repurchase program are retired. The Company’s accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and charge any excess of cost over par value to additional paid-in capital. The following table presents share repurchase activity for the years ended April 30, 2025, 2024 and 2023.

	Year Ended April 30,
	2025		2024		2023
	(in thousands)
Amount repurchased pursuant to repurchase program	$	164,144	$	115,644	$	110,657
Excise taxes on repurchases	1,358		795		119
Repurchases of common stock	$	165,502	$	116,439	$	110,776
Number of shares repurchased	1,925		1,702		2,271

Accumulated Other Comprehensive Income (Loss)

The following table sets forth the changes to accumulated other comprehensive income (loss), net of tax, by component for the years ended April 30, 2025, 2024 and 2023:

	Foreign Currency Translation		Intra-Entity Transactions That Are of a Long-Term Investment Nature		Derivative Financial Instruments		Accumulated Other Comprehensive Income (Loss)
	(in thousands)
Balances as of April 30, 2022	$	(5,041)	$	—	$	(1,002)	$	(6,043)
Other comprehensive loss before reclassification	(30,088)		—		(776)		(30,864)
Reclassification to earnings from accumulated other comprehensive income (loss)	—		—		1,778		1,778
Balances as of April 30, 2023	(35,129)		—		—		(35,129)
Other comprehensive income (loss) before reclassification	58		(4,929)		11,365		6,494
Reclassification to earnings from accumulated other comprehensive income (loss)	—				(2,884)		(2,884)
Balances as of April 30, 2024	(35,071)		(4,929)		8,481		(31,519)
Other comprehensive loss before reclassification	(355)		(1,958)		(5,953)		(8,266)
Reclassification to earnings from accumulated other comprehensive income (loss)	—		—		(2,148)		(2,148)
Balances as of April 30, 2025	$	(35,426)	$	(6,887)	$	380	$	(41,933)

Other comprehensive income (loss) before reclassification on derivative instruments for the years ended April 30, 2025, 2024 and 2023 is net of tax of $1.9 million, $3.7 million and $0.3 million, respectively. Reclassification to earnings from accumulated other comprehensive income (loss) on derivative instruments for the years ended April 30, 2025, 2024 and 2023 is net of tax of $0.7 million, $0.9 million and $0.6 million, respectively. Other comprehensive loss before reclassification on intra-entity transactions that are of a long-term investment nature for the years ended April 30, 2025 and 2024 is net of tax of $0.7 million and $1.6 million, respectively.