Balance Sheet Components

12 Months Ended

Apr. 30, 2023

Balance Sheet Components [Abstract]

Balance Sheet Components

Balance Sheet Components

Property and Equipment, Net

The cost and accumulated depreciation of property and equipment were as follows (in thousands):

	Useful Life (in years)	As of April 30, 2023		As of April 30, 2022
Leasehold improvements	Lesser of estimated useful life or remaining lease term	$	10,081	$	10,863
Computer hardware and software	3	2,220		1,473
Furniture and fixtures	3-5	6,093		5,753
Assets under construction		1,734		1,119
Total property and equipment		20,128		19,208
Less: accumulated depreciation		(15,036)		(12,001)
Property and equipment, net		$	5,092	$	7,207

Depreciation expense related to property and equipment was $3.6 million, $3.9 million, and $3.1 million for the years ended April 30, 2023, 2022 and 2021, respectively. During the year ended April 30, 2023, the Company recorded asset impairment charges related to the exit from leased office space which included $1.1 million of furniture, equipment, and leasehold improvements. See Note 16 for further details.

Intangible Assets, Net

Intangible assets consisted of the following as of April 30, 2023 (in thousands):

	Gross Fair Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	70,130	$	43,136	$	26,994	2.7
Customer relationships	19,598		17,641		1,957		0.4
Trade names	2,872		2,686		186		0.4
Total	$	92,600	$	63,463	$	29,137	2.5
Foreign currency translation adjustment					(33)
Total					$	29,104

Intangible assets consisted of the following as of April 30, 2022 (in thousands):

	Gross Fair Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	70,130	$	31,355	$	38,775	3.6
Customer relationships	19,598		13,177		6,421		1.4
Trade names	2,872		2,263		609		1.4
Total	$	92,600	$	46,795	$	45,805	3.2
Foreign currency translation adjustment					(5)
Total					$	45,800

Amortization expense for the intangible assets for the years ended April 30, 2023, 2022, and 2021 was as follows (in thousands):

	Year Ended April 30,
	2023		2022		2021
Cost of revenue – subscription	$	11,781	$	10,503	$	8,437
Sales and marketing	4,887		5,280		5,730
Total amortization of acquired intangible assets	$	16,668	$	15,783	$	14,167

The expected future amortization expense related to the intangible assets as of April 30, 2023 was as follows (in thousands, by fiscal year):

2024	$	13,983
2025	8,018
2026	5,057
2027	2,046
2028	—
Thereafter	—
Total	$	29,104

Goodwill

The following table represents the changes to goodwill (in thousands):

	Carrying Amount
Balance as of April 30, 2021	$	198,851
Addition from acquisitions	105,428
Foreign currency translation adjustment	(373)
Balance as of April 30, 2022	303,906
Foreign currency translation adjustment	(264)
Balance as of April 30, 2023	$	303,642

There was no impairment of goodwill during the years ended April 30, 2023, 2022, and 2021.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following (in thousands):

	As of April 30, 2023		As of April 30, 2022
Accrued expenses	$	24,163	$	24,066
Income taxes payable	9,738		4,286
Value added taxes payable	9,403		8,926
Accrued interest	6,918		6,918
Other	13,310		9,734
Total accrued expenses and other liabilities	$	63,532	$	53,930

Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following (in thousands):

	As of April 30, 2023		As of April 30, 2022
Accrued vacation	$	30,026	$	27,280
Accrued commissions	26,175		23,806
Accrued payroll and withholding taxes	6,586		9,030
Other	13,696		7,886
Total accrued compensation and benefits	$	76,483	$	68,002

Contract Balances

The following table provides information about unbilled accounts receivable, deferred contract acquisition costs, and deferred revenue from contracts with customers (in thousands):

	As of April 30, 2023		As of April 30, 2022
Unbilled accounts receivable, included in accounts receivable, net	$	2,159	$	9,244
Deferred contract acquisition costs	$	151,692	$	118,047
Deferred revenue	$	562,952	$	465,294

Deferred Contract Acquisition Costs

The following table summarizes the activity of the deferred contract acquisition costs (in thousands):

	Year Ended April 30,
	2023		2022		2021
Beginning balance	$	118,047	$	86,352	$	43,549
Capitalization of contract acquisition costs	102,545		92,433		83,794
Amortization of deferred contract acquisition costs	(68,900)		(60,738)		(40,991)
Ending balance	$	151,692	$	118,047	$	86,352
Deferred contract acquisition costs, current	$	55,813	$	43,628	$	36,089
Deferred contract acquisition costs, non- current	95,879		74,419		50,263
Total deferred contract acquisition costs	$	151,692	$	118,047	$	86,352

The Company did not recognize any impairment of deferred contract acquisition costs during the years ended April 30, 2023, 2022, and 2021.

Deferred Revenue

The following table summarizes the deferred revenue activity (in thousands):

	Year Ended April 30,
	2023		2022		2021
Beginning balance	$	465,294	$	397,700	$	259,702
Increases due to invoices issued, excluding amounts recognized as revenue during the period	527,620		421,552		364,093
Amounts transferred to deferred revenue from accrued expenses and other liabilities upon entering into contracts with customers, net of revenue recognized during the period	707		—		5,424
Increase from acquisitions, net of revenue recognized	—		439		—
Revenue recognized that was included in deferred revenue balance at beginning of period	(430,669)		(354,397)		(231,519)
Ending balance	$	562,952	$	465,294	$	397,700