Cover
Cover - shares | 3 Months Ended | |
Jul. 31, 2023 | Aug. 21, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38675 | |
Entity Registrant Name | Elastic N.V. | |
Entity Incorporation, State or Country Code | P7 | |
Title of 12(b) Security | Ordinary shares, Par Value €0.01 Per Share | |
Trading Symbol | ESTC | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 98,419,072 | |
Entity Central Index Key | 0001707753 | |
Current Fiscal Year End Date | --04-30 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 630,565 | $ 644,167 |
Restricted cash | 2,677 | 2,473 |
Marketable securities | 326,528 | 271,041 |
Accounts receivable, net of allowance for credit losses of $3,333 and $3,409 as of July 31, 2023 and April 30, 2023, respectively | 185,372 | 260,919 |
Deferred contract acquisition costs | 60,214 | 55,813 |
Prepaid expenses and other current assets | 35,008 | 39,867 |
Total current assets | 1,240,364 | 1,274,280 |
Property and equipment, net | 5,042 | 5,092 |
Goodwill | 303,836 | 303,642 |
Operating lease right-of-use assets | 17,427 | 19,997 |
Intangible assets, net | 24,896 | 29,104 |
Deferred contract acquisition costs, non-current | 95,357 | 95,879 |
Deferred tax assets | 7,064 | 7,412 |
Other assets | 7,424 | 8,076 |
Total assets | 1,701,410 | 1,743,482 |
Current liabilities: | ||
Accounts payable | 16,035 | 35,151 |
Accrued expenses and other liabilities | 64,453 | 63,532 |
Accrued compensation and benefits | 72,700 | 76,483 |
Operating lease liabilities | 11,627 | 12,749 |
Deferred revenue | 506,919 | 528,704 |
Total current liabilities | 671,734 | 716,619 |
Deferred revenue, non-current | 27,214 | 34,248 |
Long-term debt, net | 567,806 | 567,543 |
Operating lease liabilities, non-current | 11,994 | 13,942 |
Other liabilities, non-current | 10,939 | 12,233 |
Total liabilities | 1,289,687 | 1,344,585 |
Commitments and contingencies (Notes 7 and 8) | ||
Shareholders’ equity: | ||
Convertible preference shares, €0.01 par value; 165,000,000 shares authorized, 0 shares issued and outstanding as of July 31, 2023 and April 30, 2023 | 0 | 0 |
Ordinary shares, par value €0.01 per share: 165,000,000 shares authorized; 98,377,727 shares issued and outstanding as of July 31, 2023 and 97,366,947 shares issued and outstanding as of April 30, 2023 | 1,035 | 1,024 |
Treasury stock | (369) | (369) |
Additional paid-in capital | 1,532,543 | 1,471,584 |
Accumulated other comprehensive loss | (19,651) | (20,015) |
Accumulated deficit | (1,101,835) | (1,053,327) |
Total shareholders’ equity | 411,723 | 398,897 |
Total liabilities and shareholders’ equity | 1,701,410 | 1,743,482 |
Long-term debt, net | 567,806 | 567,543 |
Restricted cash | $ 2,677 | $ 2,473 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) $ in Thousands | Jul. 31, 2023 USD ($) shares | Jul. 31, 2023 € / shares | Apr. 30, 2023 USD ($) shares | Apr. 30, 2023 € / shares |
Allowance for doubtful accounts | $ | $ 3,333 | $ 3,409 | ||
Ordinary shares, shares authorized (in shares) | 165,000,000 | |||
Convertible Preference Shares | ||||
Preference shares, par value ( in € / shares) | € / shares | € 0.01 | € 0.01 | ||
Preference shares, shares authorized (in shares) | 165,000,000 | 165,000,000 | ||
Preference shares, shares issued (in shares) | 0 | 0 | ||
Preference shares, shares outstanding (in shares) | 0 | 0 | ||
Ordinary Shares, Par Value of €0.01 | ||||
Ordinary shares, par value ( in € / shares) | € / shares | € 0.01 | € 0.01 | ||
Ordinary shares, shares authorized (in shares) | 165,000,000 | 165,000,000 | ||
Ordinary shares, shares issued (in shares) | 98,377,727 | 97,366,947 | ||
Ordinary shares, shares outstanding (in shares) | 98,377,727 | 97,366,947 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Revenue | ||
Total revenue | $ 293,753 | $ 250,081 |
Cost of revenue | ||
Total cost of revenue | 77,477 | 72,979 |
Gross profit | 216,276 | 177,102 |
Operating expenses | ||
Research and development | 80,690 | 78,649 |
Sales and marketing | 133,169 | 125,006 |
General and administrative | 37,939 | 34,088 |
Restructuring and other related charges | 725 | 0 |
Total operating expenses | 252,523 | 237,743 |
Operating loss | (36,247) | (60,641) |
Interest Expense | (6,306) | (6,401) |
Other Nonoperating Income (Expense) | 7,300 | 339 |
Loss before income taxes | (35,253) | (66,703) |
Provision for income taxes | 13,255 | 2,848 |
Net loss | $ (48,508) | $ (69,551) |
Net loss per share attributable to ordinary shareholders, basic (in dollars per share) | $ (0.50) | $ (0.74) |
Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted (in shares) | 97,942,049 | 94,621,365 |
Total subscription | ||
Revenue | ||
Total revenue | $ 270,247 | $ 231,814 |
Cost of revenue | ||
Total cost of revenue | 57,266 | 53,551 |
Professional services | ||
Revenue | ||
Total revenue | 23,506 | 18,267 |
Cost of revenue | ||
Total cost of revenue | $ 20,211 | $ 19,428 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (48,508) | $ (69,551) |
Other comprehensive income (loss): | ||
Unrealized loss on available-for-sale securities | (1,411) | 0 |
Foreign currency translation adjustments | 1,775 | (2,624) |
Other comprehensive income (loss) | 364 | (2,624) |
Total comprehensive loss | $ (48,144) | $ (72,175) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Total | Ordinary Shares | Treasury Shares | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Beginning balance (in shares) at Apr. 30, 2022 | 94,174,914 | |||||
Beginning balance at Apr. 30, 2022 | $ 415,433 | $ 990 | $ (369) | $ 1,250,108 | $ (18,130) | $ (817,166) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of ordinary shares upon exercise of stock options (in shares) | 225,263 | |||||
Stock Issued During Period, Value, Stock Options Exercised | 3,397 | $ 3 | 3,394 | |||
Conversion of redeemable convertible preference shares to ordinary shares upon initial public offering (in shares) | 570,450 | |||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 0 | $ 6 | (6) | |||
Stock-based compensation | 46,883 | 46,883 | ||||
Net loss | (69,551) | (69,551) | ||||
Foreign currency translation | (2,624) | (2,624) | ||||
Ending balance (in shares) at Jul. 31, 2022 | 94,970,627 | |||||
Ending balance at Jul. 31, 2022 | 393,538 | $ 999 | (369) | 1,300,379 | (20,754) | (886,717) |
Beginning balance (in shares) at Apr. 30, 2023 | 97,366,947 | |||||
Beginning balance at Apr. 30, 2023 | 398,897 | $ 1,024 | (369) | 1,471,584 | (20,015) | (1,053,327) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of ordinary shares upon exercise of stock options (in shares) | 263,828 | |||||
Stock Issued During Period, Value, Stock Options Exercised | 3,843 | $ 3 | 3,840 | |||
Conversion of redeemable convertible preference shares to ordinary shares upon initial public offering (in shares) | 746,952 | |||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 0 | $ 8 | (8) | |||
Stock-based compensation | 57,127 | 57,127 | ||||
Net loss | (48,508) | (48,508) | ||||
Foreign currency translation | 364 | 364 | ||||
Ending balance (in shares) at Jul. 31, 2023 | 98,377,727 | |||||
Ending balance at Jul. 31, 2023 | $ 411,723 | $ 1,035 | $ (369) | $ 1,532,543 | $ (19,651) | $ (1,101,835) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Cash flows from operating activities | ||
Net loss | $ (48,508,000) | $ (69,551,000) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ||
Depreciation and amortization | 5,053,000 | 5,214,000 |
Investment Income, Net, Amortization of Discount and Premium | (2,468,000) | 0 |
Amortization of deferred contract acquisition costs | 17,572,000 | 17,444,000 |
Amortization of debt issuance costs | 263,000 | 252,000 |
Non-cash operating lease cost | 2,652,000 | 3,005,000 |
Stock-based compensation expense | 57,127,000 | 46,883,000 |
Deferred income taxes | 392,000 | 667,000 |
Foreign currency transaction loss | (1,200,000) | (1,779,000) |
Other | (34,000) | 22,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 75,871,000 | 45,991,000 |
Deferred contract acquisition costs | (21,145,000) | (19,676,000) |
Prepaid expenses and other current assets | 4,896,000 | 4,729,000 |
Other assets | 680,000 | 2,114,000 |
Accounts payable | (19,233,000) | 9,873,000 |
Accrued expenses and other liabilities | (411,000) | (16,741,000) |
Accrued compensation and benefits | (3,885,000) | (11,521,000) |
Operating lease liabilities | (3,100,000) | (3,204,000) |
Deferred revenue | (29,110,000) | (26,985,000) |
Net cash provided by (used in) operating activities | 37,812,000 | (9,705,000) |
Cash flows from investing activities | ||
Purchases of property and equipment | (632,000) | (479,000) |
Purchases of marketable securities | 83,579,000 | 0 |
Maturities of marketable securities | 29,116,000 | 0 |
Net cash used in investing activities | (55,095,000) | (479,000) |
Cash flows from financing activities | ||
Proceeds from issuance of ordinary shares upon exercise of stock options | 3,843,000 | 3,397,000 |
Net cash provided by financing activities | 3,843,000 | 3,397,000 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 42,000 | (5,702,000) |
Net decrease in cash, cash equivalents, and restricted cash | (13,398,000) | (12,489,000) |
Cash, cash equivalents, and restricted cash, beginning of period | 646,640,000 | |
Cash, cash equivalents, and restricted cash, end of period | 633,242,000 | |
Supplemental disclosures of cash flow information | ||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 11,972,000 | 12,079,000 |
Cash paid for income taxes, net | 3,037,000 | 2,558,000 |
Cash paid for operating lease liabilities | 3,310,000 | 3,278,000 |
Increase (Decrease) In Capital Expenditures Incurred but Not yet Paid | 109,000 | (158,000) |
Supplemental disclosures of non-cash investing and financing information | ||
Operating lease right-of-use assets for new lease obligations | $ 0 | 2,725,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $ 851,148,000 |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of BusinessElastic N.V. (“Elastic” or the “Company”) was incorporated under the laws of the Netherlands in 2012. The Company created the Elastic Stack, a powerful set of software products that ingest and store data from any source and in any format, and perform search, analysis, and visualization on that data. Developers build on top of the Elastic Stack to apply the power of search to their data and solve business problems. The Company offers three software solutions built into the Elastic Stack: Search, Observability, and Security. The Elastic Stack and the Company’s solutions are designed to run in public or private clouds, in hybrid environments, or in multi-cloud environments. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying interim condensed consolidated balance sheet as of July 31, 2023, interim condensed consolidated statements of operations, comprehensive loss, and shareholders’ equity for the three months ended July 31, 2023 and 2022, and interim condensed consolidated statements of cash flows for the three months ended July 31, 2023 and 2022 are unaudited. These interim condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, include all normal recurring adjustments necessary to fairly state the Company’s financial position as of July 31, 2023; results of the Company’s operations for the three months ended July 31, 2023 and 2022; statements of shareholders’ equity for the three months ended July 31, 2023 and 2022; and statements of cash flows for the three months ended July 31, 2023 and 2022. The financial data and other financial information disclosed in the notes to these interim condensed consolidated financial statements related to the three month periods are also unaudited. The results for the three months ended July 31, 2023 are not necessarily indicative of the operating results expected for the fiscal year ending April 30, 2024, or any other future period. The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the financial statements of the Company and its wholly-owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The condensed balance sheet data as of April 30, 2023 was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. Therefore, these unaudited interim condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2023 filed with the SEC on June 16, 2023 (“the Company’s Annual Report on Form 10-K”). Fiscal Year The Company’s fiscal year ends on April 30. References to fiscal 2024, for example, refer to the fiscal year ended April 30, 2024. Use of Estimates and Judgments The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, allocation of revenue between recognized and deferred amounts, deferred contract acquisition costs, allowance for credit losses, valuation of stock-based compensation, fair value of ordinary shares in periods prior to the Company’s initial public offering, fair value of acquired intangible assets and goodwill, useful lives of acquired intangible assets and property and equipment, whether an arrangement is or contains a lease, discount rate used for operating leases, and valuation allowance for deferred income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, judgments or revise the carrying value of the Company’s assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s financial statements. Significant Accounting Policies There have been no changes to the Company’s significant accounting policies described in the Company’s Annual Report on Form 10-K that have had a material impact on its condensed consolidated financial statements and related notes. Recently Adopted Accounting Pronouncements Acquisitions: In October 2021, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, improving consistency in accounting for acquired revenue contracts with customers in a business combination by requiring that acquirers apply ASC 606 to recognize contract assets and contract liabilities as if they had originated the contracts. If the acquiree prepared its financial statements in accordance with U.S. GAAP, the resulting acquired contract assets and liabilities should generally be consistent with the acquiree’s financial statements. The Company adopted ASU No. 2021-08 on May 1, 2023. The Company’s adoption of this ASU did not have any impact on its condensed consolidated financial statements. New Accounting Pronouncements Not Yet Adopted There have been no new accounting pronouncements or changes in accounting pronouncements during the three months ended July 31, 2023 that are significant or potentially significant to the Company. |
Revenue and Performance Obligat
Revenue and Performance Obligations | 3 Months Ended |
Jul. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue and Performance Obligations | Revenue Disaggregation of Revenue The following table presents revenue by category (in thousands): Three Months Ended July 31, 2023 2022 Amount % of Amount % of Elastic Cloud $ 121,172 41 % $ 97,729 39 % Other subscription 149,075 51 % 134,085 54 % Total subscription 270,247 92 % 231,814 93 % Services 23,506 8 % 18,267 7 % Total revenue $ 293,753 100 % $ 250,081 100 % Concentration of Credit Risk One customer, a channel partner, accounted for 15% and 12% of net accounts receivable as of July 31, 2023 and April 30, 2023, respectively. The same customer accounted for 10% of total revenue during the three months ended July 31, 2023. No customer accounted for more than 10% of the Company’s total revenue for the three months ended July 31, 2022. Deferred Revenue The Company recognized revenue of $210.3 million and $169.3 million during the three months ended July 31, 2023 and 2022, respectively, that was included in the deferred revenue balance at the beginning of each of the respective periods. Unbilled Accounts Receivable Unbilled accounts receivable is recorded as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. As of July 31, 2023 and April 30, 2023, unbilled accounts receivable was $2.8 million and $2.2 million, respectively. Remaining Performance Obligations As of July 31, 2023, the Company had $1.118 billion of remaining performance obligations. As of July 31, 2023, the Company expects to recognize approximately 89% of its remaining performance obligations as revenue over the next 24 months and the remainder thereafter. Deferred Contract Acquisition Costs Amortization expense with respect to deferred contract acquisition costs was $17.6 million and $17.4 million for the three months ended July 31, 2023 and 2022, respectively. The Company did not recognize any impairment of deferred contract acquisition costs during the three months ended July 31, 2023 and 2022. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Jul. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value MeasurementsFinancial Assets The following table summarizes assets that are measured at fair value on a recurring basis as of July 31, 2023 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 197,298 $ — $ — $ 197,298 U.S. treasury securities 40,816 — — 40,816 U.S. agency securities — 4,978 — 4,978 Certificates of deposit — 6,595 — 6,595 Commercial paper — 2,998 — 2,998 Total included in cash and cash equivalents 238,114 14,571 — 252,685 Marketable Securities: Certificates of deposit — 40,347 — 40,347 Commercial paper — 39,516 — 39,516 U.S. treasury securities 68,573 — — 68,573 Corporate debt securities — 138,471 — 138,471 U.S. agency bonds — 39,621 — 39,621 Total marketable securities 68,573 257,955 — 326,528 Total financial assets $ 306,687 $ 272,526 $ — $ 579,213 The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2023 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 194,261 $ — $ — $ 194,261 U.S. agency securities — 27,406 — 27,406 Certificates of deposit — 21,750 — 21,750 Commercial paper — 60,750 — 60,750 Total included in cash and cash equivalents 194,261 109,906 — 304,167 Marketable Securities: Certificates of deposit — 31,645 — 31,645 Commercial paper — 33,735 — 33,735 U.S. treasury securities 47,627 — — 47,627 Corporate debt securities — 118,228 — 118,228 U.S. agency bonds — 39,806 — 39,806 Total marketable securities 47,627 223,414 — 271,041 Total financial assets $ 241,888 $ 333,320 $ — $ 575,208 For the three months ended July 31, 2023 and 2022, interest income from the Company’s cash and cash equivalents and marketable securities was $6.0 million and $1.3 million, respectively, and is included in other income, net in the condensed consolidated statement of operations. As of July 31, 2023 and April 30, 2023, net unrealized losses on the marketable securities were immaterial. The fluctuations in market interest rates impact the unrealized losses or gains on these securities. As of July 31, 2023 and April 30, 2023, the contractual maturities of the Company’s available-for-sale debt securities, excluding those securities classified within cash and cash equivalents on the condensed consolidated balance sheet, did not exceed 36 months. The fair values of available-for-sale securities, by remaining contractual maturity, are as follows (in thousands): As of As of Due within 1 year $ 180,067 $ 168,264 Due between 1 year and 3 years 143,971 102,777 Due between 3 years and 5 years 2,490 — Total marketable securities $ 326,528 $ 271,041 Financial Liabilities In July 2021, the Company issued $575.0 million aggregate principal amount of 4.125% Senior Notes due July 15, 2029 (the “Senior Notes”) in a private placement. Based on the trading prices of the Senior Notes, the fair value of the Senior Notes as of July 31, 2023 was approximately $497.0 million. While the Senior Notes are recorded at cost, the fair value of the Senior Notes was determined based on quoted prices in markets that are not active; accordingly, the Senior Notes are categorized as Level 2 for purposes of the fair value measurement hierarchy. |
Balance Sheet Components
Balance Sheet Components | 3 Months Ended |
Jul. 31, 2023 | |
Balance Sheet Components [Abstract] | |
Balance Sheet Components | Balance Sheet Components Property and Equipment, Net The cost and accumulated depreciation of property and equipment were as follows (in thousands): Useful Life (in years) As of As of Leasehold improvements Lesser of estimated useful life or remaining lease term $ 11,197 $ 10,081 Computer hardware and software 3 2,980 2,220 Furniture and fixtures 3-5 6,663 6,093 Assets under construction 174 1,734 Total property and equipment 21,014 20,128 Less: accumulated depreciation (15,972) (15,036) Property and equipment, net $ 5,042 $ 5,092 Depreciation expense related to property and equipment was $0.8 million and $1.0 million for the three months ended July 31, 2023 and 2022, respectively. Intangible Assets, Net Intangible assets consisted of the following as of July 31, 2023 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 70,130 $ 46,112 $ 24,018 2.5 Customer relationships 19,598 18,766 832 0.2 Trade names 2,872 2,793 79 0.2 Total $ 92,600 $ 67,671 $ 24,929 2.4 Foreign currency translation adjustment (33) Total $ 24,896 Intangible assets consisted of the following as of April 30, 2023 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 70,130 $ 43,136 $ 26,994 2.7 Customer relationships 19,598 17,641 1,957 0.4 Trade names 2,872 2,686 186 0.4 Total $ 92,600 $ 63,463 $ 29,137 2.5 Foreign currency translation adjustment (33) Total $ 29,104 Amortization expense for the intangible assets for the three months ended July 31, 2023 and 2022 was as follows (in thousands): Three Months Ended July 31, 2023 2022 Cost of revenue – subscription $ 2,976 $ 2,964 Sales and marketing 1,232 1,231 Total amortization of acquired intangible assets $ 4,208 $ 4,195 The expected future amortization expense related to the intangible assets as of July 31, 2023 was as follows (in thousands, by fiscal year): Remainder of 2024 $ 9,775 2025 8,018 2026 5,057 2027 2,046 2028 — Thereafter — Total $ 24,896 Goodwill The following table represents the changes to goodwill (in thousands): Carrying Amount Balance as of April 30, 2023 $ 303,642 Foreign currency translation adjustment 194 Balance as of July 31, 2023 $ 303,836 There was no impairment of goodwill during the three months ended July 31, 2023 and 2022. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): As of As of Accrued expenses $ 31,368 $ 24,163 Income taxes payable 20,440 9,738 Value added taxes payable 4,005 9,403 Accrued interest 988 6,918 Other 7,652 13,310 Total accrued expenses and other liabilities $ 64,453 $ 63,532 Accrued Compensation and Benefits Accrued compensation and benefits consisted of the following (in thousands): As of As of Accrued vacation $ 30,638 $ 30,026 Accrued commissions 15,368 26,175 Accrued payroll and withholding taxes 8,175 6,586 Other 18,519 13,696 Total accrued compensation and benefits $ 72,700 $ 76,483 Allowance for Credit Losses The following is a summary of the changes in the Company’s allowance for credit losses (in thousands): Three Months Ended July 31, 2023 2022 Beginning balance $ 3,409 $ 2,700 Bad debt expense 628 186 Accounts written off (704) (636) Ending balance $ 3,333 $ 2,250 |
Debt
Debt | 3 Months Ended |
Jul. 31, 2023 | |
Debt Disclosure [Abstract] | |
Senior Notes Disclosure | Senior Notes In July 2021, the Company issued $575.0 million aggregate principal amount of 4.125% Senior Notes due July 15, 2029 in a private placement. Interest on the Senior Notes is payable semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2022. The Company received net proceeds from the offering of the Senior Notes of $565.7 million after deducting underwriting commissions of $7.2 million and incurred additional issuance costs of $2.1 million. Total debt issuance costs of $9.3 million are being amortized to interest expense using the effective interest method over the term of the Senior Notes. The Company may redeem the Senior Notes, in whole or in part, at any time prior to July 15, 2024 at a price equal to 100% of the principal amount thereof plus a “make-whole” premium and accrued and unpaid interest, if any. The Company may at its election redeem all or a part of the Senior Notes on or after July 15, 2024, on any one or more occasions, at the redemption prices set forth in the indenture governing the Senior Notes (the “Indenture”), plus, in each case, accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to July 15, 2024, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount of the Senior Notes outstanding under the Indenture with the net cash proceeds of one or more equity offerings at a redemption price equal to 104.125% of the principal amount of the Senior Notes then outstanding, plus accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption date. The Company may also at its election redeem the Senior Notes in whole, but not in part, at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, if certain changes in tax law occur as set forth in the Indenture. If the Company experiences a change of control triggering event (as defined in the Indenture), the Company must offer to repurchase the Senior Notes at a repurchase price equal to 101% of the principal amount of the Senior Notes to be repurchased, plus accrued and unpaid interest, if any, to the repurchase date. The Indenture contains covenants limiting the Company’s ability and the ability of certain subsidiaries to create liens on certain assets to secure debt; grant a subsidiary guarantee of certain debt without also providing a guarantee of the Senior Notes; and consolidate or merge with or into, or sell or otherwise dispose of all or substantially all of its assets to, another person. These covenants are subject to a number of limitations and exceptions. Certain of these covenants will not apply during any period in which the Senior Notes are rated investment grade by Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services. The net carrying amount of the Senior Notes was as follows (in thousands): As of As of Principal $ 575,000 $ 575,000 Unamortized debt issuance costs (7,194) (7,457) Net carrying amount $ 567,806 $ 567,543 The following table sets forth the interest expense recognized related to the Senior Notes (in thousands): Three Months Ended July 31, 2023 2022 Contractual interest expense $ 5,930 $ 5,930 Amortization of debt issuance costs 263 252 Total interest expense related to the Senior Notes $ 6,193 $ 6,182 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Jul. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Cloud Hosting Commitments During the three months ended July 31, 2023, there were no material changes, outside the ordinary course of business, to the Company’s contractual obligations and commitments reported in the Company's Annual Report on Form 10-K. Letters of Credit The Company had a total of $2.3 million in letters of credit outstanding in favor of certain landlords for office space as of July 31, 2023. Legal Matters From time to time, the Company has become involved in claims and other legal matters arising in the ordinary course of business. The Company investigates these claims as they arise. Although claims are inherently unpredictable, the Company is currently not aware of any matters that, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, results of operations, financial position or cash flows. The Company accrues estimates for resolution of legal and other contingencies when losses are probable and reasonably estimable. Indemnification The Company enters into indemnification provisions under its agreements with other companies in the ordinary course of business, including business partners, landlords, contractors and parties performing its research and development. Pursuant to these arrangements, the Company agrees to indemnify, hold harmless, and reimburse the indemnified party for certain losses suffered or incurred by the indemnified party as a result of the Company’s activities. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the fair value of these agreements is not material. The Company maintains commercial general liability insurance and product liability insurance to offset certain of the Company’s potential liabilities under these indemnification provisions. In addition, the Company indemnifies its officers, directors and certain key employees against certain liabilities that may arise as a result of their affiliation with the Company. To date, there have been no claims under any indemnification provisions. |
Leases
Leases | 3 Months Ended |
Jul. 31, 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 condensed consolidated statement of operations were as follows (in thousands): Three Months Ended July 31, 2023 2022 Operating lease cost $ 2,855 $ 3,133 Short-term lease cost 474 783 Variable lease cost 237 230 Total lease cost $ 3,566 $ 4,146 Lease term and discount rate information are summarized as follows: As of Weighted average remaining lease term (in years) 2.46 Weighted average discount rate 4.97 % Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of July 31, 2023 were as follows (in thousands): Years Ending April 30, Remainder of 2024 $ 9,809 2025 8,426 2026 4,472 2027 1,024 2028 1,106 Thereafter 281 Total minimum lease payments 25,118 Less imputed interest (1,497) Present value of future minimum lease payments 23,621 Less current lease liabilities (11,627) Operating lease liabilities, non-current $ 11,994 |
Ordinary Shares
Ordinary Shares | 3 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
Ordinary Shares | Ordinary Shares The Company’s articles of association designated and authorized the Company to issue 165 million ordinary shares at a par value per ordinary share of €0.01 per share. Each holder of ordinary shares has the right to one vote per ordinary share. The holders of ordinary shares are also entitled to receive dividends whenever funds are legally available and when declared by the Company’s board of directors, subject to the prior rights of holders of all classes of shares outstanding having priority rights to dividends. No dividends have been declared by the board of directors from inception through July 31, 2023. Ordinary Shares Reserved for Issuance The Company had reserved ordinary shares for issuance as follows: As of As of Stock options issued and outstanding 3,723,556 4,038,238 RSUs issued and outstanding 6,976,012 7,494,399 Available for future grants 22,253,640 17,564,133 Available for employee stock purchases 6,000,000 6,000,000 Total ordinary shares reserved 38,953,208 35,096,770 Convertible Preference Shares The Company’s board of directors has the authority, for a period of five years from October 10, 2018, without further action by the Company’s shareholders, to issue up to 165 million shares of undesignated convertible preference shares with rights and preferences, including voting rights, designated from time to time by the board of directors. As of July 31, 2023, there were no convertible preference shares issued or outstanding. |
Equity Incentive Plans
Equity Incentive Plans | 3 Months Ended |
Jul. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Equity Incentive Plans | Equity Incentive Plans 2022 Employee Stock Purchase Plan In August 2022, the Company’s board of directors adopted and, in October 2022, the Company’s shareholders approved the 2022 Employee Stock Purchase Plan (“2022 ESPP”). The Company reserved 6.0 million of the Company’s ordinary shares for future purchase and issuance under the 2022 ESPP in January 2023. The 2022 ESPP allows eligible employees to acquire ordinary shares of the Company at a discount at periodic intervals through accumulated payroll deductions. Eligible employees purchase ordinary shares of the Company during a purchase period at 85% of the market value of the Company’s ordinary shares at either the beginning or end of an offering period, whichever is lower. Offering periods under the 2022 ESPP are approximately six months long and begin on each of March 16 or September 16 or the next trading day thereafter. The first offering period under the 2022 ESPP began on March 16, 2023 and will end on September 15, 2023. 2012 Stock Option Plan In September 2012, the Company’s board of directors adopted and the Company’s shareholders approved the 2012 Stock Option Plan, which was amended and restated in September 2018 and further amended in December 2021 (as amended and restated, the “2012 Plan”). Under the 2012 Plan, the board of directors, the compensation committee, as administrator of the 2012 Plan, and any other duly authorized committee may grant stock options and other equity-based awards, such as Restricted Stock Awards (“RSAs”) or Restricted Stock Units (“RSUs”), which include performance-based RSUs (“PSUs”), to eligible employees, directors, and consultants to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to employees, directors and consultants, and to promote the success of the Company’s business. The Company’s board of directors, compensation committee or other duly authorized committee determines the vesting schedule for all equity-based awards. Stock options and RSUs granted to employees generally vest over four years, subject to the employees’ continued service to the Company. During the three months ended July 31, 2023, the Company granted PSUs that vest over three years with a one-year performance period. The Company’s compensation committee may explicitly deviate from the general vesting schedules in its approval of an equity-based award, as it may deem appropriate. Stock options expire ten years after the date of grant. Stock options, RSAs and RSUs (including PSUs) that are canceled under certain conditions become available for future grant or sale under the 2012 Plan unless the 2012 Plan is terminated. The equity awards available for grant were as follows: Three Months Ended Available at beginning of fiscal year 17,564,133 Awards authorized 4,868,347 Options canceled 49,725 RSUs granted (1) (534,660) RSUs canceled 306,095 Available at end of period 22,253,640 (1) Includes 132,960 PSUs granted during the three months ended July 31, 2023. Stock Options The following table summarizes stock option activity: Stock Options Outstanding Number of Stock Options Outstanding Weighted- Average Exercise Price Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Balance as of April 30, 2023 4,038,238 $ 32.74 5.35 $ 134,778 Stock options exercised (263,828) $ 14.57 Stock options canceled (49,725) $ 90.38 Stock options assumed in acquisition canceled (1,129) $ 76.29 Balance as of July 31, 2023 3,723,556 $ 33.25 4.97 $ 149,684 Exercisable as of July 31, 2023 3,255,392 $ 26.01 4.58 $ 145,744 Aggregate intrinsic value represents the difference between the exercise price of the stock options to purchase the Company’s ordinary shares and the fair value of the Company’s ordinary shares. The weighted-average grant-date fair value per share of stock options granted was $46.44 for the three months ended July 31, 2022. As of July 31, 2023, the Company had unrecognized stock-based compensation expense of $23.2 million related to unvested stock options that the Company expects to recognize over a weighted-average period of 1.96 years. RSUs The following table summarizes RSU activity under the 2012 Plan: Number of Awards Weighted-Average Grant Date Fair Value Outstanding and unvested at April 30, 2023 7,494,399 $ 74.52 RSUs granted (1) 534,660 $ 68.44 RSUs released (746,952) $ 81.40 RSUs canceled (306,095) $ 74.83 Outstanding and unvested at July 31, 2023 6,976,012 $ 73.31 (1) Includes 132,960 PSUs granted during the three months ended July 31, 2023. During the three months ended July 31, 2023, the Company granted 132,960 PSUs subject to performance and service conditions, with a grant-date fair value of $9.1 million, to certain executives. The PSUs become eligible to vest based on the level of the Company’s achievement against a revenue-based performance goal for fiscal 2024. The amount that may be earned ranges from 0% to 200% of the eligible PSUs. Subject to the executives’ continued service to the Company through the applicable vesting date, one-third of the eligible PSUs will vest following the end of fiscal 2024 and, thereafter, one-eighth of the remaining eligible PSUs will vest on a quarterly basis over two years. Compensation expense related to PSUs is measured at the fair value on the date of grant and recognized over the requisite service period. In the event that an executive’s continuous service to the Company ceases, any associated unvested PSUs will immediately terminate and be forfeited. The Company recognizes forfeitures as they occur. As of July 31, 2023, the Company had unrecognized stock-based compensation expense of $476.5 million related to RSUs that the Company expects to recognize over a weighted-average period of 2.95 years. Stock-Based Compensation Expense Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations was as follows (in thousands): Three Months Ended July 31, 2023 2022 Cost of revenue Subscription $ 2,183 $ 2,160 Services 2,796 2,225 Research and development 22,436 18,710 Sales and marketing 18,839 15,647 General and administrative 10,873 8,141 Total stock-based compensation expense $ 57,127 $ 46,883 |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Ordinary Shareholders | 3 Months Ended |
Jul. 31, 2023 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Ordinary Shareholders | Net Loss Per Share Attributable to Ordinary Shareholders The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders (in thousands, except share and per share data): Three Months Ended July 31, 2023 2022 Numerator: Net loss $ (48,508) $ (69,551) Denominator: Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted 97,942,049 94,621,365 Net loss per share attributable to ordinary shareholders, basic and diluted $ (0.50) $ (0.74) Since the Company is in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods. The following outstanding potentially dilutive ordinary shares were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because the impact of including them would have been antidilutive: Three Months Ended July 31, 2023 2022 Stock options 3,723,556 4,950,306 RSUs 6,976,012 4,413,451 Employee stock purchase plan 196,399 — Total 10,895,967 9,363,757 |
Income Taxes
Income Taxes | 3 Months Ended |
Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company is incorporated in the Netherlands but operates in various countries with differing tax laws and rates. The Company recorded a provision for income taxes of $13.3 million and $2.8 million for the three months ended July 31, 2023 and 2022, respectively. For the three months ended July 31, 2023, the provision for income taxes includes a one-time charge of $7.4 million for income taxes associated with acquisition-related integration. The remaining increase was primarily due to foreign taxes. The calculation of income taxes is based upon the estimated annual effective tax rates for the year applied to the current-period loss before tax plus the tax effect of any significant unusual items, discrete events, or changes in tax law. The Company assesses uncertain tax positions in accordance with ASC 740-10, Accounting for Uncertainties in Tax. The Company anticipates that the amount of reasonably possible unrecognized tax benefits that could decrease over the next twelve months due to the expiration of certain statutes of limitations and settlement of tax audits is not material to the Company’s condensed consolidated financial statements. |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Jul. 31, 2023 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit PlansThe Company has a defined-contribution plan in the United States intended to qualify under Section 401 of the Internal Revenue Code (the “401(k) Plan”). The Company has contracted with a third-party provider to act as a custodian and trustee, and to process and maintain the records of participant data. Substantially all the expenses incurred for administering the 401(k) Plan are paid by the Company. The 401(k) Plan covers substantially all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. The Company makes contributions to the 401(k) Plan up to 6% of the participating employee’s W-2 earnings and wages. The Company recorded $4.8 million and $4.6 million of expense related to the 401(k) Plan during the three months ended July 31, 2023 and 2022, respectively.The Company also has defined-contribution plans in certain other countries for which the Company recorded $3.1 million and $2.3 million of expense during the three months ended July 31, 2023 and 2022, respectively. |
Segment Information
Segment Information | 3 Months Ended |
Jul. 31, 2023 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information The following table summarizes the Company’s total revenue by geographic area based on the location of customers (in thousands): Three Months Ended July 31, 2023 2022 United States $ 170,239 $ 145,367 Rest of world 123,514 104,714 Total revenue $ 293,753 $ 250,081 Other than the United States, no other individual country exceeded 10% or more of total revenue during the periods presented. The following table presents the Company’s long-lived assets, including property and equipment, net, and operating lease right-of-use assets, by geographic region (in thousands): As of As of United States $ 12,412 $ 13,476 The Netherlands 4,316 4,597 United Kingdom 2,341 2,797 India 1,345 1,803 Rest of world 2,055 2,416 Total long-lived assets $ 22,469 $ 25,089 |
Restructuring and Other Related
Restructuring and Other Related Charges | 3 Months Ended |
Jul. 31, 2023 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Other Related Charges | Restructuring and Other Related ChargesOn November 30, 2022, the Company announced and began implementing a plan to align its investments more closely with its strategic priorities by reducing the Company’s workforce by approximately 13% and implementing certain facilities-related cost optimization actions. For the three months ended July 31, 2023, the Company recorded employee-related severance and other termination benefits of approximately $0.7 million. The following table presents the total amount incurred and the liability, which is recorded in accrued compensation and employee benefits in the condensed consolidated balance sheet, for restructuring-related employee termination benefits as of July 31, 2023 (in thousands): Three Months Ended Beginning balance $ 738 Incurred during the period 725 Paid during the period (539) Foreign currency translation adjustment 8 Ending balance $ 932 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Pay vs Performance Disclosure | ||
Net loss | $ (48,508) | $ (69,551) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jul. 31, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying interim condensed consolidated balance sheet as of July 31, 2023, interim condensed consolidated statements of operations, comprehensive loss, and shareholders’ equity for the three months ended July 31, 2023 and 2022, and interim condensed consolidated statements of cash flows for the three months ended July 31, 2023 and 2022 are unaudited. These interim condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, include all normal recurring adjustments necessary to fairly state the Company’s financial position as of July 31, 2023; results of the Company’s operations for the three months ended July 31, 2023 and 2022; statements of shareholders’ equity for the three months ended July 31, 2023 and 2022; and statements of cash flows for the three months ended July 31, 2023 and 2022. The financial data and other financial information disclosed in the notes to these interim condensed consolidated financial statements related to the three month periods are also unaudited. The results for the three months ended July 31, 2023 are not necessarily indicative of the operating results expected for the fiscal year ending April 30, 2024, or any other future period. The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the financial statements of the Company and its wholly-owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The condensed balance sheet data as of April 30, 2023 was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. Therefore, these unaudited interim condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2023 filed with the SEC on June 16, 2023 (“the Company’s Annual Report on Form 10-K”). |
Fiscal Year | Fiscal Year The Company’s fiscal year ends on April 30. References to fiscal 2024, for example, refer to the fiscal year ended April 30, 2024. |
Use of Estimates and Judgments | Use of Estimates and Judgments The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, allocation of revenue between recognized and deferred amounts, deferred contract acquisition costs, allowance for credit losses, valuation of stock-based compensation, fair value of ordinary shares in periods prior to the Company’s initial public offering, fair value of acquired intangible assets and goodwill, useful lives of acquired intangible assets and property and equipment, whether an arrangement is or contains a lease, discount rate used for operating leases, and valuation allowance for deferred income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, judgments or revise the carrying value of the Company’s assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s financial statements. |
Revenue and Performance Oblig_2
Revenue and Performance Obligations (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from External Customers by Products and Services | The following table presents revenue by category (in thousands): Three Months Ended July 31, 2023 2022 Amount % of Amount % of Elastic Cloud $ 121,172 41 % $ 97,729 39 % Other subscription 149,075 51 % 134,085 54 % Total subscription 270,247 92 % 231,814 93 % Services 23,506 8 % 18,267 7 % Total revenue $ 293,753 100 % $ 250,081 100 % |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
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 July 31, 2023 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 197,298 $ — $ — $ 197,298 U.S. treasury securities 40,816 — — 40,816 U.S. agency securities — 4,978 — 4,978 Certificates of deposit — 6,595 — 6,595 Commercial paper — 2,998 — 2,998 Total included in cash and cash equivalents 238,114 14,571 — 252,685 Marketable Securities: Certificates of deposit — 40,347 — 40,347 Commercial paper — 39,516 — 39,516 U.S. treasury securities 68,573 — — 68,573 Corporate debt securities — 138,471 — 138,471 U.S. agency bonds — 39,621 — 39,621 Total marketable securities 68,573 257,955 — 326,528 Total financial assets $ 306,687 $ 272,526 $ — $ 579,213 The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2023 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 194,261 $ — $ — $ 194,261 U.S. agency securities — 27,406 — 27,406 Certificates of deposit — 21,750 — 21,750 Commercial paper — 60,750 — 60,750 Total included in cash and cash equivalents 194,261 109,906 — 304,167 Marketable Securities: Certificates of deposit — 31,645 — 31,645 Commercial paper — 33,735 — 33,735 U.S. treasury securities 47,627 — — 47,627 Corporate debt securities — 118,228 — 118,228 U.S. agency bonds — 39,806 — 39,806 Total marketable securities 47,627 223,414 — 271,041 Total financial assets $ 241,888 $ 333,320 $ — $ 575,208 As of As of Due within 1 year $ 180,067 $ 168,264 Due between 1 year and 3 years 143,971 102,777 Due between 3 years and 5 years 2,490 — Total marketable securities $ 326,528 $ 271,041 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Balance Sheet Components [Abstract] | |
Schedule of Cost and Accumulated Depreciation of Property and Equipment | The cost and accumulated depreciation of property and equipment were as follows (in thousands): Useful Life (in years) As of As of Leasehold improvements Lesser of estimated useful life or remaining lease term $ 11,197 $ 10,081 Computer hardware and software 3 2,980 2,220 Furniture and fixtures 3-5 6,663 6,093 Assets under construction 174 1,734 Total property and equipment 21,014 20,128 Less: accumulated depreciation (15,972) (15,036) Property and equipment, net $ 5,042 $ 5,092 |
Schedule of Intangible Assets | Intangible assets consisted of the following as of July 31, 2023 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 70,130 $ 46,112 $ 24,018 2.5 Customer relationships 19,598 18,766 832 0.2 Trade names 2,872 2,793 79 0.2 Total $ 92,600 $ 67,671 $ 24,929 2.4 Foreign currency translation adjustment (33) Total $ 24,896 Intangible assets consisted of the following as of April 30, 2023 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 70,130 $ 43,136 $ 26,994 2.7 Customer relationships 19,598 17,641 1,957 0.4 Trade names 2,872 2,686 186 0.4 Total $ 92,600 $ 63,463 $ 29,137 2.5 Foreign currency translation adjustment (33) Total $ 29,104 |
Schedule of Amortization Expense for Intangible Assets | Amortization expense for the intangible assets for the three months ended July 31, 2023 and 2022 was as follows (in thousands): Three Months Ended July 31, 2023 2022 Cost of revenue – subscription $ 2,976 $ 2,964 Sales and marketing 1,232 1,231 Total amortization of acquired intangible assets $ 4,208 $ 4,195 |
Schedule of Expected Future Amortization Expense of Intangible Assets | The expected future amortization expense related to the intangible assets as of July 31, 2023 was as follows (in thousands, by fiscal year): Remainder of 2024 $ 9,775 2025 8,018 2026 5,057 2027 2,046 2028 — Thereafter — Total $ 24,896 |
Schedule of Changes to Goodwill | The following table represents the changes to goodwill (in thousands): Carrying Amount Balance as of April 30, 2023 $ 303,642 Foreign currency translation adjustment 194 Balance as of July 31, 2023 $ 303,836 |
Schedule of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities consisted of the following (in thousands): As of As of Accrued expenses $ 31,368 $ 24,163 Income taxes payable 20,440 9,738 Value added taxes payable 4,005 9,403 Accrued interest 988 6,918 Other 7,652 13,310 Total accrued expenses and other liabilities $ 64,453 $ 63,532 |
Schedule of Accrued Compensation and Benefits | Accrued compensation and benefits consisted of the following (in thousands): As of As of Accrued vacation $ 30,638 $ 30,026 Accrued commissions 15,368 26,175 Accrued payroll and withholding taxes 8,175 6,586 Other 18,519 13,696 Total accrued compensation and benefits $ 72,700 $ 76,483 |
Schedule of Unbilled Accounts Receivable, Deferred Contract Acquisition Costs, and Deferred Revenue from Contracts with Customers | The following is a summary of the changes in the Company’s allowance for credit losses (in thousands): Three Months Ended July 31, 2023 2022 Beginning balance $ 3,409 $ 2,700 Bad debt expense 628 186 Accounts written off (704) (636) Ending balance $ 3,333 $ 2,250 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Leases [Abstract] | |
Components of Lease Costs | Components of lease costs included in the condensed consolidated statement of operations were as follows (in thousands): Three Months Ended July 31, 2023 2022 Operating lease cost $ 2,855 $ 3,133 Short-term lease cost 474 783 Variable lease cost 237 230 Total lease cost $ 3,566 $ 4,146 |
Lease Term and Discount Rate Information | Lease term and discount rate information are summarized as follows: As of Weighted average remaining lease term (in years) 2.46 Weighted average discount rate 4.97 % |
Future Minimum Lease Payments Based on Current Lease Accounting Standard | Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of July 31, 2023 were as follows (in thousands): Years Ending April 30, Remainder of 2024 $ 9,809 2025 8,426 2026 4,472 2027 1,024 2028 1,106 Thereafter 281 Total minimum lease payments 25,118 Less imputed interest (1,497) Present value of future minimum lease payments 23,621 Less current lease liabilities (11,627) Operating lease liabilities, non-current $ 11,994 |
Ordinary Shares (Tables)
Ordinary Shares (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
Summary of Ordinary Shares Reserved for Issuance | The Company had reserved ordinary shares for issuance as follows: As of As of Stock options issued and outstanding 3,723,556 4,038,238 RSUs issued and outstanding 6,976,012 7,494,399 Available for future grants 22,253,640 17,564,133 Available for employee stock purchases 6,000,000 6,000,000 Total ordinary shares reserved 38,953,208 35,096,770 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Summary of Equity Awards Available for Grant | The equity awards available for grant were as follows: Three Months Ended Available at beginning of fiscal year 17,564,133 Awards authorized 4,868,347 Options canceled 49,725 RSUs granted (1) (534,660) RSUs canceled 306,095 Available at end of period 22,253,640 |
Summary of Stock-based Compensation Expense Related to Tender Offer Included in Consolidated Statement of Operations | Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations was as follows (in thousands): Three Months Ended July 31, 2023 2022 Cost of revenue Subscription $ 2,183 $ 2,160 Services 2,796 2,225 Research and development 22,436 18,710 Sales and marketing 18,839 15,647 General and administrative 10,873 8,141 Total stock-based compensation expense $ 57,127 $ 46,883 |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Ordinary Shareholders (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Net Loss Per Share Attributable to Ordinary Shareholders | The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders (in thousands, except share and per share data): Three Months Ended July 31, 2023 2022 Numerator: Net loss $ (48,508) $ (69,551) Denominator: Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted 97,942,049 94,621,365 Net loss per share attributable to ordinary shareholders, basic and diluted $ (0.50) $ (0.74) |
Schedule of Outstanding Potentially Dilutive Ordinary Shares Excluded from Computation of Diluted Net Loss Per Share Attributable to Ordinary Shareholders | The following outstanding potentially dilutive ordinary shares were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because the impact of including them would have been antidilutive: Three Months Ended July 31, 2023 2022 Stock options 3,723,556 4,950,306 RSUs 6,976,012 4,413,451 Employee stock purchase plan 196,399 — Total 10,895,967 9,363,757 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Segment Reporting [Abstract] | |
Schedule of Revenue by Geographic Area | The following table summarizes the Company’s total revenue by geographic area based on the location of customers (in thousands): Three Months Ended July 31, 2023 2022 United States $ 170,239 $ 145,367 Rest of world 123,514 104,714 Total revenue $ 293,753 $ 250,081 |
Schedule of Property and Equipment, Net of Depreciation | The following table presents the Company’s long-lived assets, including property and equipment, net, and operating lease right-of-use assets, by geographic region (in thousands): As of As of United States $ 12,412 $ 13,476 The Netherlands 4,316 4,597 United Kingdom 2,341 2,797 India 1,345 1,803 Rest of world 2,055 2,416 Total long-lived assets $ 22,469 $ 25,089 |
Restructuring and Other Relat_2
Restructuring and Other Related Charges (Tables) | 3 Months Ended |
Jul. 31, 2023 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs | The following table presents the total amount incurred and the liability, which is recorded in accrued compensation and employee benefits in the condensed consolidated balance sheet, for restructuring-related employee termination benefits as of July 31, 2023 (in thousands): Three Months Ended Beginning balance $ 738 Incurred during the period 725 Paid during the period (539) Foreign currency translation adjustment 8 Ending balance $ 932 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Details) | 3 Months Ended | ||||
Jul. 31, 2023 USD ($) Customer | Jul. 31, 2022 USD ($) | Jul. 31, 2021 USD ($) | Apr. 30, 2023 USD ($) | Apr. 30, 2022 USD ($) | |
Summary Of Significant Accounting Policies [Line Items] | |||||
Foreign currency transaction loss | $ (1,200,000) | $ (1,779,000) | |||
Allowance for doubtful accounts | 3,333,000 | 2,250,000 | $ 3,409,000 | $ 2,700,000 | |
Impairment of goodwill | 0 | 0 | $ 0 | ||
Short-term deferred revenue, adjustment | (27,214,000) | (34,248,000) | |||
Reduction in accumulated deficit | (411,723,000) | (393,538,000) | (398,897,000) | (415,433,000) | |
long-term deferred revenue, adjustment | 506,919,000 | 528,704,000 | |||
Accumulated Deficit | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Reduction in accumulated deficit | $ 1,101,835,000 | $ 886,717,000 | $ 1,053,327,000 | $ 817,166,000 | |
Customer Concentration Risk | Net Accounts Receivable | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Number of customers | Customer | 1 | ||||
Customer Concentration Risk | Net Accounts Receivable | Customer One | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration risk percentage | 15% | 12% |
Revenue and Performance Oblig_3
Revenue and Performance Obligations - Schedule of Revenue by Category (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 293,753 | $ 250,081 |
Revenue | Product | ||
Disaggregation of Revenue [Line Items] | ||
% of Total Revenue | 100% | 100% |
Total subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 270,247 | $ 231,814 |
Total subscription | Revenue | Product | ||
Disaggregation of Revenue [Line Items] | ||
% of Total Revenue | 92% | 93% |
SaaS | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 121,172 | $ 97,729 |
SaaS | Revenue | Product | ||
Disaggregation of Revenue [Line Items] | ||
% of Total Revenue | 41% | 39% |
Self-managed subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 149,075 | $ 134,085 |
Self-managed subscription | Revenue | Product | ||
Disaggregation of Revenue [Line Items] | ||
% of Total Revenue | 51% | 54% |
Professional services | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 23,506 | $ 18,267 |
Professional services | Revenue | Product | ||
Disaggregation of Revenue [Line Items] | ||
% of Total Revenue | 8% | 7% |
Revenue and Performance Oblig_4
Revenue and Performance Obligations - Additional Information (Details) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 USD ($) Customer | Jul. 31, 2022 USD ($) | |
Revenue from Contract with Customer [Abstract] | ||
Revenue, remaining performance obligation, amount | $ 1,118,000 | |
Revenue, remaining performance obligation, percentage | 89% | |
Revenue, remaining performance obligation, remaining duration | 24 months | |
Disaggregation of Revenue [Line Items] | ||
Deferred Revenue, Revenue Recognized | $ 210,300 | $ 169,300 |
Revenue, remaining performance obligation, amount | $ 1,118,000 | |
Revenue, remaining performance obligation, percentage | 89% | |
Revenue, remaining performance obligation, remaining duration | 24 months | |
Amortization of deferred contract acquisition costs | $ 17,572 | 17,444 |
Contracts with Customers | ||
Disaggregation of Revenue [Line Items] | ||
Unbilled accounts receivable | $ 2,800 | $ 2,200 |
Revenue | Product | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk percentage | 100% | 100% |
Revenue, Product and Service Benchmark | Customer Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Number of customers | 0 | |
Revenue, Product and Service Benchmark | Customer Concentration Risk | Customer One | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk percentage | 10% | |
Net Accounts Receivable | Customer Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Number of customers | Customer | 1 | |
Net Accounts Receivable | Customer Concentration Risk | Customer One | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk percentage | 15% | 12% |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Assets are Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | $ 252,685 | $ 304,167 |
Marketable Securities, Fair Value Disclosure | 326,528 | 271,041 |
Assets, Fair Value Disclosure | 579,213 | 575,208 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 238,114 | 194,261 |
Marketable Securities, Fair Value Disclosure | 68,573 | 47,627 |
Assets, Fair Value Disclosure | 306,687 | 241,888 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 14,571 | 109,906 |
Marketable Securities, Fair Value Disclosure | 257,955 | 223,414 |
Assets, Fair Value Disclosure | 272,526 | 333,320 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 |
Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 197,298 | 194,261 |
Marketable Securities, Fair Value Disclosure | 40,347 | 31,645 |
Money market funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 197,298 | 194,261 |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
Money market funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | 40,347 | 31,645 |
Money market funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
Certificates of Deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 6,595 | 21,750 |
Certificates of Deposit | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Certificates of Deposit | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 6,595 | 21,750 |
Certificates of Deposit | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Commercial Paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 2,998 | 60,750 |
Marketable Securities, Fair Value Disclosure | 39,516 | 33,735 |
Commercial Paper | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
Commercial Paper | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 2,998 | 60,750 |
Marketable Securities, Fair Value Disclosure | 39,516 | 33,735 |
Commercial Paper | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable Securities, Fair Value Disclosure | 138,471 | 118,228 |
Corporate Debt Securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable Securities, Fair Value Disclosure | 0 | 0 |
Corporate Debt Securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable Securities, Fair Value Disclosure | 138,471 | 118,228 |
Corporate Debt Securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable Securities, Fair Value Disclosure | 0 | 0 |
US Treasury Bond Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 40,816 | |
Marketable Securities, Fair Value Disclosure | 68,573 | 47,627 |
US Treasury Bond Securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 40,816 | |
Marketable Securities, Fair Value Disclosure | 68,573 | 47,627 |
US Treasury Bond Securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
US Treasury Bond Securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
US Government Agencies Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 4,978 | 27,406 |
Marketable Securities, Fair Value Disclosure | 39,621 | 39,806 |
US Government Agencies Debt Securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | 0 | 0 |
US Government Agencies Debt Securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 4,978 | 27,406 |
Marketable Securities, Fair Value Disclosure | 39,621 | 39,806 |
US Government Agencies Debt Securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | 0 |
Marketable Securities, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-term Debt, Fair Value | $ 497 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.125% | ||
Interest Income, Interest-Earning Asset | $ 6 | $ 1.3 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value by Maturity Date (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Fair Value Disclosures [Abstract] | ||
Due within 1 year | $ 180,067 | $ 168,264 |
Due between 1 year and 3 years | 143,971 | 102,777 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year Three Through Five | 2,490 | 0 |
Total marketable securities | $ 326,528 | $ 271,041 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Business Acquisition [Line Items] | ||
Goodwill | $ 303,836 | $ 303,642 |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Cost and Accumulated Depreciation of Property and Equipment (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 21,014 | $ 20,128 |
Less: accumulated depreciation | (15,972) | (15,036) |
Property and equipment, net | 5,042 | 5,092 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 11,197 | 10,081 |
Computer hardware and software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives | 3 years | |
Total property and equipment | $ 2,980 | 2,220 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 6,663 | 6,093 |
Furniture and fixtures | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives | 3 years | |
Furniture and fixtures | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives | 5 years | |
Assets under construction | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 174 | $ 1,734 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) - USD ($) | 3 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2021 | |
Balance Sheet Components [Abstract] | |||
Depreciation expense | $ 800,000 | $ 1,000,000 | |
Goodwill impairment | 0 | 0 | $ 0 |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 800,000 | $ 1,000,000 |
Balance Sheet Components - Sc_2
Balance Sheet Components - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Apr. 30, 2023 | |
Finite-Lived Intangible Assets [Line Items] | |||
Gross Fair Value | $ 92,600 | $ 92,600 | |
Accumulated Amortization | 67,671 | 63,463 | |
Net Book Value | $ 24,929 | 29,137 | |
Weighted Average Remaining Useful Life (in years) | 2 years 4 months 24 days | 2 years 6 months | |
Foreign currency translation adjustment | $ (33) | (33) | |
Total | 24,896 | 29,104 | |
Developed technology | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Fair Value | 70,130 | 70,130 | |
Accumulated Amortization | 46,112 | 43,136 | |
Net Book Value | $ 24,018 | 26,994 | |
Weighted Average Remaining Useful Life (in years) | 2 years 6 months | 2 years 8 months 12 days | |
Customer relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Fair Value | $ 19,598 | 19,598 | |
Accumulated Amortization | 18,766 | 17,641 | |
Net Book Value | $ 832 | 1,957 | |
Weighted Average Remaining Useful Life (in years) | 2 months 12 days | 4 months 24 days | |
Trade names | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Fair Value | $ 2,872 | 2,872 | |
Accumulated Amortization | 2,793 | 2,686 | |
Net Book Value | $ 79 | $ 186 | |
Weighted Average Remaining Useful Life (in years) | 2 months 12 days | 4 months 24 days |
Balance Sheet Components - Sc_3
Balance Sheet Components - Schedule of Amortization Expense For Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Apr. 30, 2023 | |
Finite-Lived Intangible Assets [Line Items] | |||
Total amortization of acquired intangible assets | $ 4,208 | $ 4,195 | |
Foreign currency translation adjustment | (33) | $ (33) | |
Total | 24,896 | $ 29,104 | |
Cost of revenue | Subscription - self-managed and SaaS | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total amortization of acquired intangible assets | 2,976 | 2,964 | |
Sales and marketing | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total amortization of acquired intangible assets | $ 1,232 | $ 1,231 |
Balance Sheet Components - Sc_4
Balance Sheet Components - Schedule of Expected Future Amortization Expense of the Intangible Assets (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of 2024 | $ 9,775 | |
2025 | 8,018 | |
2026 | 5,057 | |
2027 | 2,046 | |
2028 | 0 | |
Thereafter | 0 | |
Total | $ 24,896 | $ 29,104 |
Balance Sheet Components - Sc_5
Balance Sheet Components - Schedule of Changes to Goodwill (Details) $ in Thousands | 3 Months Ended |
Jul. 31, 2023 USD ($) | |
Goodwill [Roll Forward] | |
Addition from acquisitions | $ 303,642 |
Foreign currency translation adjustment | 194 |
Ending balance | $ 303,836 |
Balance Sheet Components - Sc_6
Balance Sheet Components - Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Balance Sheet Components [Abstract] | ||
Accrued expenses | $ 31,368 | $ 24,163 |
Income taxes payable | 20,440 | 9,738 |
Value added taxes payable | 4,005 | 9,403 |
Other | 7,652 | 13,310 |
Total accrued expenses and other liabilities | 64,453 | 63,532 |
Accrued interest on Senior Notes | $ 988 | $ 6,918 |
Balance Sheet Components - Sc_7
Balance Sheet Components - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Balance Sheet Components [Abstract] | ||
Accrued vacation | $ 30,638 | $ 30,026 |
Accrued commissions | 15,368 | 26,175 |
Accrued payroll and withholding taxes | 8,175 | 6,586 |
Other | 18,519 | 13,696 |
Total accrued compensation and benefits | $ 72,700 | $ 76,483 |
Balance Sheet Components - Liab
Balance Sheet Components - Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Beginning balance | $ 3,409 | $ 2,700 |
Bad debt expense | 628 | 186 |
Accounts written off | (704) | (636) |
Ending balance | $ 3,333 | $ 2,250 |
Debt (Details)
Debt (Details) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2023 | Jul. 31, 2022 | Apr. 30, 2023 | |
Debt Disclosure [Abstract] | ||||
Proceeds from Issuance of Senior Long-term Debt | $ 575,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.125% | |||
Long-term debt, net | $ 567,806,000 | $ 567,543,000 | ||
Long-term Debt, Gross | 575,000,000 | 575,000,000 | ||
Debt Issuance Costs, Net | (7,194,000) | (7,457,000) | ||
Interest Expense, Debt, Excluding Amortization | 5,930,000 | $ 5,930,000 | ||
Amortization of debt issuance costs | 263,000 | 252,000 | ||
Interest Expense, Debt | 6,193,000 | 6,182,000 | ||
Debt Instrument [Line Items] | ||||
Proceeds from Issuance of Senior Long-term Debt | $ 575,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.125% | |||
Long-term debt, net | 567,806,000 | 567,543,000 | ||
Long-term Debt, Gross | 575,000,000 | 575,000,000 | ||
Debt Issuance Costs, Net | 7,194,000 | $ 7,457,000 | ||
Interest Expense, Debt, Excluding Amortization | 5,930,000 | 5,930,000 | ||
Amortization of debt issuance costs | 263,000 | 252,000 | ||
Interest Expense, Debt | $ 6,193,000 | $ 6,182,000 | ||
Senior Notes | ||||
Debt Disclosure [Abstract] | ||||
Proceeds from Issuance of Senior Long-term Debt | $ 575,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.125% | |||
Long-term debt, net | $ 565,700,000 | |||
underwriting commissions | 7,200,000 | |||
Other issuance cost | 2,100,000 | |||
Debt Issuance Costs, Gross | 9,300,000 | |||
Debt Instrument [Line Items] | ||||
Proceeds from Issuance of Senior Long-term Debt | $ 575,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.125% | |||
Long-term debt, net | $ 565,700,000 | |||
underwriting commissions | 7,200,000 | |||
Other issuance cost | 2,100,000 | |||
Debt Issuance Costs, Gross | $ 9,300,000 | |||
Repurchase of debt (as a percent) | 101% | |||
Debt Instrument, Redemption, Period One | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price (as a percent) | 100% | |||
Redemption price of principal (as a percent) | 40% | |||
Debt Instrument, Redemption, Period Two | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price (as a percent) | 104.125% | |||
Debt Instrument, Redemption, Period Three | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price (as a percent) | 100% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) | 3 Months Ended |
Jul. 31, 2023 USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Letters of credit outstanding amount | $ 2,300,000 |
Provision for indemnification claims | $ 0 |
Leases - Components of Lease Co
Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Leases [Abstract] | ||
Operating lease cost | $ 2,855 | $ 3,133 |
Short-term lease cost | 474 | 783 |
Variable lease cost | 237 | 230 |
Total lease cost | $ 3,566 | $ 4,146 |
Leases - Lease Term and Discoun
Leases - Lease Term and Discount Rate Information (Details) | Jul. 31, 2023 |
Leases [Abstract] | |
Weighted average remaining lease term (in years) | 2 years 5 months 15 days |
Weighted average discount rate | 4.97% |
Leases - Future Minimum Lease B
Leases - Future Minimum Lease Based on Current Lease Accounting Standard (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Leases [Abstract] | ||
Remainder of 2024 | $ 9,809 | |
2025 | 8,426 | |
2026 | 4,472 | |
2027 | 1,024 | |
2028 | 1,106 | |
Thereafter | 281 | |
Total minimum lease payments | 25,118 | |
Less imputed interest | (1,497) | |
Present value of future minimum lease payments | 23,621 | |
Less current lease liabilities | (11,627) | $ (12,749) |
Operating lease liabilities, non-current | $ 11,994 | $ 13,942 |
Ordinary Shares - Additional In
Ordinary Shares - Additional Information (Details) | 3 Months Ended | |||
Oct. 10, 2018 shares | Jul. 31, 2023 € / shares | Jul. 31, 2023 USD ($) shares | Apr. 30, 2023 shares | |
Class of Stock [Line Items] | ||||
Ordinary shares, shares authorized (in shares) | 165,000,000 | |||
Ordinary shares, voting rights | one vote per ordinary share | |||
Dividends declared | $ | $ 0 | |||
Convertible Preference Shares | ||||
Class of Stock [Line Items] | ||||
Preferred stock, shares authorized term | 5 years | |||
Preference shares, shares authorized (in shares) | 165,000,000 | 165,000,000 | 165,000,000 | |
Preference shares, shares issued (in shares) | 0 | 0 | ||
Preference shares, shares outstanding (in shares) | 0 | 0 | ||
Maximum | ||||
Class of Stock [Line Items] | ||||
Par value of shares issued ( in € / shares) | € / shares | € 0.01 |
Ordinary Shares - Summary of Or
Ordinary Shares - Summary of Ordinary Shares Reserved for Issuance (Details) - shares | Jul. 31, 2023 | Apr. 30, 2023 |
Class of Stock [Line Items] | ||
Total ordinary shares reserved (in shares) | 38,953,208 | 35,096,770 |
Stock options | ||
Class of Stock [Line Items] | ||
Total ordinary shares reserved (in shares) | 3,723,556 | 4,038,238 |
RSUs | ||
Class of Stock [Line Items] | ||
Total ordinary shares reserved (in shares) | 6,976,012 | 7,494,399 |
2012 Plan | ||
Class of Stock [Line Items] | ||
Total ordinary shares reserved (in shares) | 22,253,640 | 17,564,133 |
Employee Stock Purchase Plan 2022 | ||
Class of Stock [Line Items] | ||
Total ordinary shares reserved (in shares) | 6,000,000 | 6,000,000 |
Equity Incentive Plans - Additi
Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | |
Aug. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |||
Unrecognized stock-based compensation expense related to unvested stock options | $ 23.2 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized stock-based compensation expense related to unvested stock options | 23.2 | ||
Weighted-average grant-date fair value of options granted (in dollar per share) | $ 46.44 | ||
Equity Settled RSUs | |||
Share-Based Payment Arrangement [Abstract] | |||
Unrecognized stock-based compensation expense related to unvested stock options | 476.5 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized stock-based compensation expense related to unvested stock options | 476.5 | ||
Performance Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 9.1 | ||
Performance Shares | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEarnRatePercentOfSharesGranted | 0% | ||
Performance Shares | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEarnRatePercentOfSharesGranted | 20,000% | ||
Employee Stock Purchase Plan 2022 | ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Value of shares reserved | $ 6 | ||
Purchase price of common stock, percent of market price | 85% | ||
Purchase period (in months) | 6 months | ||
New Employee | 2012 Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting term (in years) | 4 years |
Equity Incentive Plans - Summar
Equity Incentive Plans - Summary of Equity Awards Available for Grant (Details) | 3 Months Ended |
Jul. 31, 2023 shares | |
Equity Awards, Outstanding [Roll Forward] | |
Available at beginning of fiscal year (in shares) | 17,564,133 |
Awards authorized (in shares) | 4,868,347 |
Options cancelled (in shares) | 49,725 |
Available at end of fiscal year (in shares) | 22,253,640 |
RSUs | |
Equity Awards, Outstanding [Roll Forward] | |
RSUs granted (in shares) | (534,660) |
RSUs cancelled (in shares) | 306,095 |
Performance Shares | |
Equity Awards, Outstanding [Roll Forward] | |
RSUs granted (in shares) | (132,960) |
Equity Incentive Plans - Summ_2
Equity Incentive Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Stock options | ||
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Aggregate Intrinsic Value Rollforward | ||
Unrecognized over a weighted-average period (in years) | 1 year 11 months 15 days | |
2012 Plan | ||
Options, Outstanding Number [Roll Forward] | ||
Beginning balance (in shares) | 4,038,238 | |
Stock options assumed in acquisition (in dollars per share) | $ 14.57 | |
Stock options assumed in acquisition (in shares) | (263,828) | |
Stock options exercised (in shares) | (49,725) | |
Stock options cancelled (in shares) | (1,129) | |
Exercisable as of April 30, 2021 (in dollars per share) | $ 26.01 | |
Exercisable as of April 30, 2021 (in shares) | 3,255,392 | |
Ending balance (in shares) | 3,723,556 | |
Options Outstanding, Weighted Average Exercise Price [Abstract] | ||
Beginning balance (in dollars per share) | $ 32.74 | |
Stock options exercised (in dollars per share) | 90.38 | |
Stock options cancelled (in dollars per share) | 76.29 | |
Ending balance (in dollars per share) | $ 33.25 | |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term Rollforward | ||
Remaining Contractual Term (in years) | 4 years 11 months 19 days | 5 years 4 months 6 days |
Exercisable, Remaining Contractual Term (in years) | 4 years 6 months 29 days | |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Aggregate Intrinsic Value Rollforward | ||
Beginning balance | $ 134,778 | |
Ending balance | 149,684 | |
Exercisable as of April 30, 2021 | $ 145,744 |
Equity Incentive Plans - Summ_3
Equity Incentive Plans - Summary of RSU Activity (Details) | 3 Months Ended |
Jul. 31, 2023 $ / shares shares | |
RSUs | |
Non-option Awards, Outstanding Number [Roll Forward] | |
Number of Awards, RSUs granted (in shares) | 534,660 |
Number of Awards, RSUs cancelled (in shares) | (306,095) |
Non-option Awards, Weighted Average Grant Date Fair Value [Roll Forward] | |
Unrecognized over a weighted-average period (in years) | 2 years 11 months 12 days |
Performance Shares | |
Non-option Awards, Outstanding Number [Roll Forward] | |
Number of Awards, RSUs granted (in shares) | 132,960 |
2012 Plan | RSUs | |
Non-option Awards, Outstanding Number [Roll Forward] | |
Number of Awards Outstanding and unvested at Beginning of Year ((in shares) | 7,494,399 |
Number of Awards, RSUs granted (in shares) | 534,660 |
Number of Awards, RSUs released (in shares) | (746,952) |
Number of Awards, RSUs cancelled (in shares) | (306,095) |
Number of Awards Outstanding and unvested at Year End (in shares) | 6,976,012 |
Non-option Awards, Weighted Average Grant Date Fair Value [Roll Forward] | |
Weighted-Average Grant Date Fair Value, Outstanding and unvested, Beginning of Year (in dollar per share) | $ / shares | $ 74.52 |
Weighted-Average Grant Date Fair Value, RSUs granted (in dollar per share) | $ / shares | 68.44 |
Weighted-Average Grant Date Fair Value, RSUs released (in dollar per share) | $ / shares | 81.40 |
Weighted-Average Grant Date Fair Value, RSUs cancelled (in dollar per share) | $ / shares | 74.83 |
Weighted-Average Grant Date Fair Value, Outstanding and unvested, End of Year (in dollar per share) | $ / shares | $ 73.31 |
Equity Incentive Plans - Summ_4
Equity Incentive Plans - Summary of Stock-based Compensation Expense Recognized in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 57,127 | $ 46,883 |
Subscription | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 2,183 | 2,160 |
Services | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 2,796 | 2,225 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 22,436 | 18,710 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 18,839 | 15,647 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 10,873 | $ 8,141 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Ordinary Shareholders - Schedule of Computation of Basic and Diluted Net Loss Per Share Attributable to Ordinary Shareholders (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Numerator: | ||
Net loss | $ (48,508) | $ (69,551) |
Denominator: | ||
Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted (in shares) | 97,942,049 | 94,621,365 |
Net loss per share attributable to ordinary shareholders, basic (in dollars per share) | $ (0.50) | $ (0.74) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Ordinary Shareholders - Schedule of Outstanding Potentially Dilutive Ordinary Shares Excluded from Computation of Diluted Net Loss Per Share Attributable to Ordinary Shareholders (Details) - shares | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 10,895,967 | 9,363,757 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 3,723,556 | 4,950,306 |
RSUs | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 6,976,012 | 4,413,451 |
ESPP | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 196,399 | 0 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Tax Provision Adjustment - acquisition related | $ 7,400 | |
Provision for income taxes | $ 13,255 | $ 2,848 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
United States | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Defined contribution expense related to plan | $ 4.8 | $ 4.6 |
Other Countries | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Defined contribution expense related to plan | $ 3.1 | $ 2.3 |
Maximum | United States | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Percentage of defined contribution to participating employees | 6% |
Segment Information - Schedule
Segment Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total revenue | $ 293,753 | $ 250,081 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total revenue | 170,239 | 145,367 |
Rest of world | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total revenue | $ 123,514 | $ 104,714 |
Segment Information - Schedul_2
Segment Information - Schedule of Property and Equipment, Net of Depreciation (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | $ 22,469 | $ 25,089 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 12,412 | 13,476 |
United Kingdom | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 2,341 | 2,797 |
INDIA | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 1,345 | 1,803 |
Rest of world | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 2,055 | 2,416 |
NETHERLANDS | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | $ 4,316 | $ 4,597 |
Restructuring and Other Relat_3
Restructuring and Other Related Charges - Additional Information (Details) | Nov. 30, 2022 |
Employee Severance | |
Restructuring Cost and Reserve [Line Items] | |
Decrease in workforce (as a percent) | 13% |
Restructuring and Other Relat_4
Restructuring and Other Related Charges - Summary of Restructuring Activities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and other related charges | $ 725 | $ 0 |
Employee Severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Beginning balance | 738 | |
Restructuring and other related charges | 725 | |
Paid during the period | (539) | |
Foreign currency translation adjustment | 8 | |
Ending balance | $ 932 |
Uncategorized Items - estc-2023
Label | Element | Value |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations | $ 863,637,000 |