v3.26.3
Equity Incentive Plan and Stock Based Compensation (Tables)
3 Months Ended
Jul. 31, 2026
Equity [Abstract]  
Summary of Stock Option Activity

Stock option activity for the three months ended July 31, 2026 is as follows:

 

Number of options

 

 

Weighted average exercise price

 

 

Weighted average remaining contractual life (in years)

 

 

Aggregate intrinsic value (in thousands)

 

Balance at April 30, 2026

 

4,504,508

 

 

$

17.04

 

 

 

8.85

 

 

$

16,675

 

Forfeited

 

(13,589

)

 

 

17.00

 

 

 

 

 

 

 

Exercised

 

(67,059

)

 

 

17.00

 

 

 

 

 

 

 

Balance at July 31, 2026

 

4,423,860

 

 

 

17.04

 

 

 

8.59

 

 

 

25,663

 

Vested and exercisable at July 31, 2026

 

3,471,366

 

 

 

17.04

 

 

 

8.59

 

 

 

20,124

 

Summary of Restricted Stock Unit Activity

Time based restricted stock unit activity for the three months ended July 31, 2026 is as follows:

 

Number of restricted units

 

 

Weighted average grant date fair value

 

Outstanding at April 30, 2026

 

2,499,958

 

 

$

17.60

 

Granted

 

779,832

 

 

 

20.75

 

Forfeited

 

(73,578

)

 

 

17.93

 

Vested

 

(379,126

)

 

 

15.72

 

Outstanding at July 31, 2026

 

2,827,086

 

 

$

18.71

 

Summary of Fair Value of the Market-Based Restricted Stock Units Granted Using a Monte Carlo Simulation

The Company estimated the fair value of the market-based restricted stock units granted during the three months ended July 31, 2026 using a Monte Carlo simulation model with the following assumptions:

 

July 31, 2026

 

Expected volatility

 

59.0

%

Expected term

1.91 years

 

Risk free rate

 

4.06

%

Fair value of underlying common stock

$

18.82

 

Weighted average grant-date fair value per share

$

28.95

 

Summary of Share-based Compensation Expense

The Company recorded share-based compensation in the following expense categories of its unaudited interim condensed consolidated statements of operations and comprehensive loss:

 

 

Three Months Ended July 31,

 

 

 

2026

 

 

2025

 

Research and development

 

$

1,183

 

 

$

455

 

Selling, general and administrative

 

 

8,334

 

 

 

4,124

 

Total share-based compensation expense

 

$

9,517

 

 

$

4,579