Credit Losses

9 Months Ended

Jan. 31, 2024

The activity in the allowance for credit losses on the Company's trade receivables is as follows:


	(in thousands)
Balance at April 30, 2023	$	44,377
Provision for credit losses	17,204
Write-offs	(11,272)
Recoveries of amounts previously written off	259
Foreign currency translation	(266)
Balance at January 31, 2024	$	50,302

The fair value and unrealized losses on available for sale debt securities, aggregated by investment category and the length of time the security has been in an unrealized loss position, are as follows:


	Less Than 12 Months				12 Months or longer				Balance Sheet Classification
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Cash and Cash Equivalent		Marketable Securities, Current		Marketable Securities, Non- Current

	(in thousands)
Balance at January 31, 2024
Commercial paper	$	8,932	$	3	$	—	$	—	$	1,500	$	7,432	$	—
Corporate notes/bonds	$	—	$	—	$	7,480	$	32	$	—	$	7,480	$	—
Balance at April 30, 2023
Commercial paper	$	8,229	$	26	$	3,492	$	4	$	—	$	11,721	$	—
Corporate notes/bonds	$	9,581	$	123	$	13,815	$	232	$	—	$	20,489	$	2,907

The Company only purchases high grade bonds that have a maturity from the date of purchase of no more than two years. The Company monitors the credit worthiness of its investments on a quarterly basis. The Company does not intend to sell the investments and does not believe it will be required to sell the investments before the investments mature and therefore recover the amortized cost basis.