Leases

12 Months Ended

Apr. 30, 2023

Leases [Abstract]

Leases

Leases

The Company’s leases are composed of corporate office spaces under non-cancelable operating lease agreements that expire at various dates through fiscal 2029. The Company does not have any finance leases.

Lease Costs

Components of lease costs included in the consolidated statement of operations were as follows (in thousands):

	Year Ended April 30,
	2023		2022
Operating lease cost	$	12,411	$	9,894
Short-term lease cost	2,217		2,448
Variable lease cost	726		857
Total lease cost	$	15,354	$	13,199

Lease term and discount rate information are summarized as follows:

	As of April 30, 2023
Weighted average remaining lease term (in years)	2.62
Weighted average discount rate	4.92	%

Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of April 30, 2023 were as follows (in thousands):

Years Ending April 30,
2024	$	13,103
2025	8,419
2026	4,471
2027	1,024
2028	1,106
Thereafter	280
Total minimum lease payments	28,403
Less imputed interest	(1,712)
Present value of future minimum lease payments	26,691
Less current lease liabilities	(12,749)
Operating lease liabilities, non-current	$	13,942

Future minimum lease payments as of April 30, 2023 include future cash payments on leases with corresponding right-of-use assets which were written down for impairment due to facilities-related cost optimization actions during the year ended April 30, 2023. During the year ended April 30, 2023, the Company recorded an impairment charge of $5.1 million related to the exit from leased office spaces. See Note 16 for further details.