Credit Losses

12 Months Ended

Apr. 30, 2024

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


	(in thousands)
Balance at May 1, 2021	$	29,324
Provision for credit losses	21,552
Write-offs	(14,052)
Recoveries of amounts previously written off	702
Foreign currency translation	(1,142)
Balance at April 30, 2022	36,384
Provision for credit losses	22,493
Write-offs	(15,806)
Recoveries of amounts previously written off	585
Foreign currency translation	721
Balance at April 30, 2023	44,377
Provision for credit losses	20,715
Write-offs	(20,856)
Recoveries of amounts previously written off	454
Foreign currency translation	(498)
Balance at April 30, 2024	$	44,192

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 as of April 30, 2024 and 2023, 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 Equivalents		Marketable Securities, Current		Marketable Securities, Non-Current

	(in thousands)
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
Balance at April 30, 2024
Commercial paper	$	11,040	$	19	$	—	$	—	$	3,932	$	7,108	$	—
Corporate notes/bonds	$	11,022	$	26	$	1,999	$	1	$	—	$	9,050	$	3,971
U.S. Treasury and Agency Securities	$	4,346	$	9	$	—	$	—	$	—	$	2,441	$	1,905

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 creditworthiness 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.