Fair Value Measurements (Tables)

12 Months Ended

Apr. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on Recurring Basis

The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2025 (in thousands):

	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	197,710	$	—	$	—	$	197,710
U.S. treasury securities	90,642		—		—		90,642
U.S. agency securities	—		20,001		—		20,001
Commercial paper	—		9,462		—		9,462
Certificates of deposit	—		6,020		—		6,020
Corporate debt securities	—		3,128		—		3,128
Total included in cash equivalents	288,352		38,611		—		326,963
Marketable securities:
U.S. treasury securities	113,440		—		—		113,440
Corporate debt securities	—		390,077		—		390,077
Certificates of deposit	—		63,377		—		63,377
International treasuries	—		40,135		—		40,135
Municipal securities	—		34,966		—		34,966
Commercial paper	—		17,739		—		17,739
U.S. agency securities	—		9,983		—		9,983
Total marketable securities	113,440		556,277		—		669,717
Mutual fund investments (1)	2,646		—		—		2,646
Total financial assets	$	404,438	$	594,888	$	—	$	999,326

(1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of other assets in the Company’s consolidated balance sheets.

The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2024 (in thousands):

	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	180,248	$	—	$	—	$	180,248
U.S. treasury securities	35,407		—		—		35,407
Corporate debt securities	—		699		—		699
Total included in cash equivalents	215,655		699		—		216,354
Marketable securities:
U.S. treasury securities	112,471		—		—		112,471
Corporate debt securities	—		269,168		—		269,168
Commercial paper	—		43,051		—		43,051
Certificates of deposit	—		42,972		—		42,972
U.S. agency securities	—		35,892		—		35,892
Municipal securities	—		27,806		—		27,806
International treasuries	—		12,642		—		12,642
Total marketable securities	112,471		431,531		—		544,002
Mutual fund investments (1)	461		—		—		461
Total financial assets	$	328,587	$	432,230	$	—	$	760,817

(1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of other assets in the Company’s consolidated balance sheets.

The fair value of available-for-sale securities, by remaining contractual maturity, are as follows (in thousands):

	As of April 30,
	2025		2024
Due within 1 year	$	368,374	$	298,876
Due between 1 year and 3 years	299,522		245,126
Due between 3 years and 5 years	1,821		—
Total marketable securities	$	669,717	$	544,002