Elastic (ESTC) 10-Q 30 Aug 24 2025 FY Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jul. 31, 2024	Aug. 21, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2024
Current Fiscal Year End Date	--04-30
Document Transition Report	false
Entity File Number	001-38675
Entity Registrant Name	Elastic N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-1756035
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		102,745,499
Entity Central Index Key	0001707753
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Current assets:
Cash and cash equivalents	$ 594,871	$ 540,397
Restricted cash	3,436	2,692
Marketable securities	552,459	544,002
Accounts receivable, net of allowance for credit losses of $4,370 and $4,979 as of July 31, 2024 and April 30, 2024, respectively	196,474	323,011
Deferred contract acquisition costs	76,265	78,030
Prepaid expenses and other current assets	42,643	42,765
Total current assets	1,466,148	1,530,897
Property and equipment, net	4,953	5,453
Goodwill	319,417	319,380
Operating lease right-of-use assets	17,758	20,506
Intangible assets, net	17,341	20,620
Deferred contract acquisition costs, non-current	107,467	114,509
Deferred tax assets	210,809	225,544
Other assets	6,580	5,657
Total assets	2,150,473	2,242,566
Current liabilities:
Accounts payable	9,337	26,075
Accrued expenses and other liabilities	72,408	75,292
Accrued compensation and benefits	76,080	93,691
Operating lease liabilities	11,143	12,187
Deferred revenue	599,251	663,846
Total current liabilities	768,219	871,091
Deferred revenue, non-current	27,724	30,293
Long-term debt, net	568,887	568,612
Operating lease liabilities, non-current	10,714	12,898
Other liabilities, non-current	15,511	21,487
Total liabilities	1,391,055	1,504,381
Commitments and contingencies (Notes 8 and 9)
Shareholders’ equity:
Preference shares, €0.01 par value; 165,000,000 shares authorized, 0 shares issued and outstanding as of July 31, 2024 and April 30, 2024	0	0
Ordinary shares, par value €0.01 per share: 165,000,000 shares authorized; 102,724,366 shares issued and outstanding as of July 31, 2024 and 101,705,935 shares issued and outstanding as of April 30, 2024	1,081	1,070
Treasury stock	(369)	(369)
Additional paid-in capital	1,819,006	1,750,729
Accumulated other comprehensive loss	(19,466)	(21,638)
Accumulated deficit	(1,040,834)	(991,607)
Total shareholders’ equity	759,418	738,185
Total liabilities and shareholders’ equity	$ 2,150,473	$ 2,242,566

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands	Jul. 31, 2024 USD ($) shares	Jul. 31, 2024 € / shares	Apr. 30, 2024 USD ($) shares	Apr. 30, 2024 € / shares
Allowance for doubtful accounts | $	$ 4,370		$ 4,979
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)	102,724,366		101,705,935
Ordinary shares, shares outstanding (in shares)	102,724,366		101,705,935

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Revenue
Total revenue	$ 347,420	$ 293,753
Cost of revenue
Total cost of revenue	91,757	77,477
Gross profit	255,663	216,276
Operating expenses
Research and development	89,332	80,690
Sales and marketing	157,357	133,169
General and administrative	42,673	37,939
Restructuring and other related charges	139	725
Total operating expenses	289,501	252,523
Operating loss	(33,838)	(36,247)
Interest expense	(6,526)	(6,306)
Other income, net	11,208	7,300
Loss before income taxes	(29,156)	(35,253)
Provision for income taxes	20,071	13,255
Net loss	$ (49,227)	$ (48,508)
Net loss per share attributable to ordinary shareholders, basic and diluted
Basic (in dollars per share)	$ (0.48)	$ (0.50)
Diluted (in dollars per share)	$ (0.48)	$ (0.50)
Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted
Basic (in shares)	102,284,435	97,942,049
Diluted (in shares)	102,284,435	97,942,049
Subscription
Revenue
Total revenue	$ 323,774	$ 270,247
Cost of revenue
Total cost of revenue	68,347	57,266
Services
Revenue
Total revenue	23,646	23,506
Cost of revenue
Total cost of revenue	$ 23,410	$ 20,211

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (49,227)	$ (48,508)
Other comprehensive income:
Unrealized gain (loss) on available-for-sale securities, net of taxes	2,451	(1,411)
Foreign currency translation adjustments	(279)	1,775
Other comprehensive income	2,172	364
Total comprehensive loss	$ (47,055)	$ (48,144)

Condensed Consolidated Statem_3

Condensed 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, 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
Issuance of ordinary shares upon exercise of stock options	3,843	$ 3		3,840
Issuance of ordinary shares upon release of restricted stock units (in shares)		746,952
Issuance of ordinary shares upon release of restricted stock units	0	$ 8		(8)
Stock-based compensation	57,127			57,127
Net loss	(48,508)					(48,508)
Other comprehensive income	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)
Beginning balance (in shares) at Apr. 30, 2024		101,705,935
Beginning balance at Apr. 30, 2024	738,185	$ 1,070	(369)	1,750,729	(21,638)	(991,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon exercise of stock options (in shares)		312,808
Issuance of ordinary shares upon exercise of stock options	4,745	$ 3		4,742
Issuance of ordinary shares upon release of restricted stock units (in shares)		705,623
Issuance of ordinary shares upon release of restricted stock units	0	$ 8		(8)
Stock-based compensation	63,543			63,543
Net loss	(49,227)					(49,227)
Other comprehensive income	2,172				2,172
Ending balance (in shares) at Jul. 31, 2024		102,724,366
Ending balance at Jul. 31, 2024	$ 759,418	$ 1,081	$ (369)	$ 1,819,006	$ (19,466)	$ (1,040,834)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Cash flows from operating activities
Net loss	$ (49,227)	$ (48,508)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization	4,173	5,053
Amortization of premium and accretion of discount on marketable securities, net	(2,200)	(2,468)
Amortization of deferred contract acquisition costs	23,181	17,572
Amortization of debt issuance costs	275	263
Non-cash operating lease cost	2,838	2,652
Stock-based compensation expense	63,543	57,127
Deferred income taxes	14,723	392
Unrealized foreign currency transaction (gain) loss	(181)	1,200
Other	0	(34)
Changes in operating assets and liabilities:
Accounts receivable, net	127,203	75,871
Deferred contract acquisition costs	(13,900)	(21,145)
Prepaid expenses and other current assets	176	4,896
Other assets	(1,939)	680
Accounts payable	(16,400)	(19,233)
Accrued expenses and other liabilities	(9,028)	(411)
Accrued compensation and benefits	(17,789)	(3,885)
Operating lease liabilities	(3,374)	(3,100)
Deferred revenue	(69,320)	(29,110)
Net cash provided by operating activities	52,754	37,812
Cash flows from investing activities
Purchases of property and equipment	(747)	(632)
Purchases of marketable securities	(95,163)	(83,579)
Sales, maturities, and redemptions of marketable securities	92,390	29,116
Net cash used in investing activities	(3,520)	(55,095)
Cash flows from financing activities
Proceeds from issuance of ordinary shares upon exercise of stock options	4,745	3,843
Net cash provided by financing activities	4,745	3,843
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	1,239	42
Net increase (decrease) in cash, cash equivalents, and restricted cash	55,218	(13,398)
Cash, cash equivalents, and restricted cash, beginning of period	543,089	646,640
Cash, cash equivalents, and restricted cash, end of period	598,307	633,242
Supplemental disclosures of cash flow information
Cash paid for interest	12,181	11,972
Cash paid for income taxes, net	4,910	3,037
Cash paid for operating lease liabilities	3,668	3,310
Supplemental disclosures of non-cash investing and financing information
Property and equipment included in accounts payable	$ 43	$ 109

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jul. 31, 2024
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, 2024 and interim condensed consolidated statements of operations, comprehensive loss, shareholders’ equity, and cash flows for the three months ended July 31, 2024 and 2023 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, 2024; results of the Company’s operations for the three months ended July 31, 2024 and 2023; statements of shareholders’ equity for the three months ended July 31, 2024 and 2023; and statements of cash flows for the three months ended July 31, 2024 and 2023. 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, 2024 are not necessarily indicative of the operating results expected for the fiscal year ending April 30, 2025, 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, 2024 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, 2024 filed with the SEC on June 14, 2024 (the “Company’s Annual Report on Form 10-K”). Fiscal Year The Company’s fiscal year ends on April 30. References to fiscal 2025, for example, refer to the fiscal year ended April 30, 2025. Use of Estimates and Judgments The preparation of the condensed 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 and assumptions include, but are not limited to, standalone selling price (“SSP”) for each distinct performance obligation included in customer contracts with multiple performance obligations, the period of benefit for deferred contract acquisition costs, allowance for credit losses, valuation of stock-based compensation, 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 or 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 condensed 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 The Company did not adopt any accounting pronouncements during the three months ended July 31, 2024. New Accounting Pronouncements Not Yet Adopted Income Taxes: In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, requiring enhancements and further transparency to certain income tax disclosures. The new guidance requires consistent categories and greater disaggregation of information in the tax rate reconciliation and information about income taxes paid disaggregated by jurisdiction. The guidance becomes effective for the Company for the fiscal year ending April 30, 2026. Early adoption is permitted. Upon adoption, the guidance may be applied prospectively or retrospectively. The Company is currently evaluating the impact of adopting this standard on its condensed consolidated financial statements. Segment Reporting: In November 2023, the FASB issued ASU No. 2023-07, S egment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. The guidance becomes effective for the Company for fiscal years beginning after April 30, 2024 and interim periods within fiscal years beginning after April 30, 2025. Early adoption is permitted. Upon adoption, the guidance should be applied retrospectively. The Company is currently evaluating the impact of adopting this standard on its condensed consolidated financial statements.

Organization and Description of

Organization and Description of Business	3 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Elastic N.V. (individually and together with its consolidated subsidiaries, “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 across hybrid clouds, public or private clouds, and multi-cloud environments.

Revenue

Revenue	3 Months Ended
	Jul. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table presents revenue by category (in thousands): Three Months Ended July 31, 2024 2023 Amount % of Amount % of Elastic Cloud $ 157,281 45 % $ 121,172 41 % Other subscription 166,493 48 % 149,075 51 % Total subscription 323,774 93 % 270,247 92 % Services 23,646 7 % 23,506 8 % Total revenue $ 347,420 100 % $ 293,753 100 % Concentration of Credit Risk One customer, a channel partner, accounted for 15% and 13% of net accounts receivable as of July 31, 2024 and April 30, 2024, respectively. The same customer accounted for 12% and 10% of total revenue during the three months ended July 31, 2024 and 2023, respectively. Deferred Revenue Unbilled Accounts Receivable Remaining Performance Obligations As of July 31, 2024, the Company had $1.259 billion of remaining performance obligations. As of July 31, 2024, the Company expects to recognize approximately 90% 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 $23.2 million and $17.6 million for the three months ended July 31, 2024 and 2023, respectively. The Company did not recognize any impairment of deferred contract acquisition costs for the three months ended July 31, 2024 and 2023.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jul. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial Assets The Company measures financial assets and liabilities that are measured at fair value on a recurring basis at each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company considers all highly liquid investments, including money market funds with an original maturity of three months or less at the date of purchase, to be cash equivalents. The Company’s marketable securities are classified as available for sale and considered to be available for use in current operations and, therefore, the Company classifies them within current assets on the condensed consolidated balance sheet. The Company uses quoted prices in active markets for identical assets to determine the fair value of its Level 1 investments. For Level 2 investments, the Company uses inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. The following table summarizes assets that are measured at fair value on a recurring basis as of July 31, 2024 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 200,936 $ — $ — $ 200,936 U.S. treasury securities 17,717 — — 17,717 Total included in cash equivalents 218,653 — — 218,653 Marketable securities: Certificates of deposit — 45,265 — 45,265 Commercial paper — 42,343 — 42,343 Municipal securities — 30,353 — 30,353 U.S. treasury securities 109,649 — — 109,649 International treasuries — 14,790 — 14,790 Corporate debt securities — 278,757 — 278,757 U.S. agency bonds — 31,302 — 31,302 Total marketable securities 109,649 442,810 — 552,459 Mutual fund investments (1) 1,174 — — 1,174 Total financial assets $ 329,476 $ 442,810 $ — $ 772,286 (1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of Other assets in the Company’s condensed consolidated balance sheets. The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2024 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 180,248 $ — $ — $ 180,248 U.S. treasury securities 35,407 — — 35,407 Corporate debt securities — 699 — 699 Total included in cash equivalents 215,655 699 — 216,354 Marketable securities: Certificates of deposit — 42,972 — 42,972 Commercial paper — 43,051 — 43,051 Municipal securities — 27,806 — 27,806 U.S. treasury securities 112,471 — — 112,471 International treasuries — 12,642 — 12,642 Corporate debt securities — 269,168 — 269,168 U.S. agency bonds — 35,892 — 35,892 Total marketable securities 112,471 431,531 — 544,002 Mutual fund investments (1) 461 — — 461 Total financial assets $ 328,587 $ 432,230 $ — $ 760,817 (1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of Other assets in the Company’s condensed consolidated balance sheets. Interest income from the Company’s cash, cash equivalents and marketable securities was $11.4 million and $6.0 million for the three months ended July 31, 2024 and 2023, respectively, and is included in other income, net in the condensed consolidated statements of operations. As of July 31, 2024 and April 30, 2024, gross unrealized gains and losses on the marketable securities were insignificant. The fluctuations in market interest rates impacted the unrealized losses or gains on these securities. The fair value of available-for-sale securities, by remaining contractual maturity, are as follows (in thousands): As of As of Due within 1 year $ 303,834 $ 298,876 Due between 1 year and 3 years 248,625 245,126 Total marketable securities $ 552,459 $ 544,002 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, 2024 was approximately $532.1 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.

Acquisitions

Acquisitions	3 Months Ended
	Jul. 31, 2024
Business Combinations [Abstract]
Acquisitions	Acquisitions Opster Ltd. On November 30, 2023, the Company acquired 100% of the share capital of Opster Ltd. (“Opster”) for a total purchase consideration of $23.0 million. The purchase consideration includes $3.0 million held back by the Company for indemnity obligations which will be released upon the 18-month anniversary of the acquisition. The acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations, and, accordingly, the total purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. The total purchase price allocated to developed technology and goodwill was $6.0 million and $15.9 million, respectively. The fair value assigned to developed technology was determined using the cost to recreate approach. The developed technology asset is being amortized on a straight-line basis over the useful life of 5 years, which approximates the pattern in which the developed technology is utilized. Goodwill resulted primarily from the expectation of enhancing the efficiency and management of the Elastic Stack and is not deductible for income tax purposes.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Jul. 31, 2024
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 $ 13,125 $ 12,683 Computer hardware and software 3 3,670 3,464 Furniture and fixtures 3-5 7,420 7,395 Assets under construction 241 428 Total property and equipment 24,456 23,970 Less: accumulated depreciation (19,503) (18,517) Property and equipment, net $ 4,953 $ 5,453 Depreciation expense related to property and equipment was $0.9 million and $0.8 million for the three months ended July 31, 2024 and 2023, respectively. Intangible Assets, Net Intangible assets consisted of the following as of July 31, 2024 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 76,130 $ 58,764 $ 17,366 2.7 Foreign currency translation adjustment (25) Total $ 17,341 Intangible assets consisted of the following as of April 30, 2024 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 76,130 $ 55,489 $ 20,641 2.7 Foreign currency translation adjustment (21) Total $ 20,620 Amortization expense for the intangible assets for the three months ended July 31, 2024 and 2023 was as follows (in thousands): Three Months Ended July 31, 2024 2023 Cost of revenue – subscription $ 3,275 $ 2,976 Sales and marketing — 1,232 Total amortization of acquired intangible assets $ 3,275 $ 4,208 The expected future amortization expense related to the intangible assets as of July 31, 2024 was as follows (in thousands, by fiscal year): Remainder of 2025 $ 5,936 2026 6,256 2027 3,244 2028 1,202 2029 703 Total $ 17,341 Goodwill The following table represents the changes to goodwill (in thousands): Carrying Amount Balance as of April 30, 2024 $ 319,380 Foreign currency translation adjustment 37 Balance as of July 31, 2024 $ 319,417 There was no impairment of goodwill during the three months ended July 31, 2024 and 2023. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): As of As of Accrued expenses $ 36,548 $ 34,779 Income taxes payable 13,276 10,596 Value added taxes payable 4,906 8,849 Accrued interest 988 6,918 Other 16,690 14,150 Total accrued expenses and other liabilities $ 72,408 $ 75,292 Accrued Compensation and Benefits Accrued compensation and benefits consisted of the following (in thousands): As of As of Accrued vacation $ 36,305 $ 35,005 Accrued commissions 11,243 34,339 Accrued payroll and withholding taxes 10,225 9,830 Other 18,307 14,517 Total accrued compensation and benefits $ 76,080 $ 93,691 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, 2024 2023 Beginning balance $ 4,979 $ 3,409 Bad debt expense 786 628 Accounts written off (1,395) (704) Ending balance $ 4,370 $ 3,333

Senior Notes

Senior Notes	3 Months Ended
	Jul. 31, 2024
Debt Disclosure [Abstract]
Senior Notes	Senior Notes In July 2021, the Company issued $575.0 million aggregate principal amount of Senior Notes in a private placement. Interest on the Senior Notes is payable semi-annually in arrears on January 15 and July 15 of each year. 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 Senior Notes were redeemable, 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, up to 40% of the aggregate principal amount of the Senior Notes outstanding under the Indenture was redeemable on any one or more occasions at any time prior to July 15, 2024 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 (6,113) (6,388) Net carrying amount $ 568,887 $ 568,612 The following table sets forth the interest expense recognized related to the Senior Notes (in thousands): Three Months Ended July 31, 2024 2023 Contractual interest expense $ 5,930 $ 5,930 Amortization of debt issuance costs 275 263 Total interest expense related to the Senior Notes $ 6,205 $ 6,193

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Cloud Hosting Commitments During the three months ended July 31, 2024, 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 $2.9 million in letters of credit outstanding in favor of certain landlords for office space as of July 31, 2024. 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 to date has not 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, 2024
Leases [Abstract]
Leases	Leases The Company’s leases provide for rental of corporate office space under non-cancelable operating lease agreements that expire at various dates through fiscal 2030. The Company does not have any finance leases. Lease Costs Components of lease costs included in the condensed consolidated statements of operations were as follows (in thousands): Three Months Ended July 31, 2024 2023 Operating lease cost $ 3,137 $ 2,855 Short-term lease cost 540 474 Variable lease cost 402 237 Total lease cost $ 4,079 $ 3,566 Lease term and discount rate information are summarized as follows: As of Weighted average remaining lease term (in years) 2.5 Weighted average discount rate 5.1 % Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of July 31, 2024 were as follows (in thousands, by fiscal year): Remainder of 2025 $ 9,548 2026 7,586 2027 2,711 2028 2,369 2029 1,042 Thereafter 69 Total minimum lease payments 23,325 Less imputed interest (1,468) Present value of future minimum lease payments 21,857 Less current lease liabilities (11,143) Operating lease liabilities, non-current $ 10,714 Future minimum lease payments as of July 31, 2024 include future cash payments on leases with corresponding right-of-use assets which were written down for impairment due to facilities-related cost optimization actions during fiscal 2023. During the three months ended July 31, 2024, the Company executed an operating lease agreement for an office space with an expected commencement date in the third quarter of fiscal 2025. The lease term is approximately 11 years with undiscounted future minimum lease payments of approximately $12.4 million.

Ordinary Shares

Ordinary Shares	3 Months Ended
	Jul. 31, 2024
Equity [Abstract]
Ordinary Shares	Ordinary Shares The Company’s authorized ordinary share capital pursuant to its articles of association amounts to 165 million ordinary shares at a par value per ordinary share of €0.01. 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 proposed by the Company’s board of directors and adopted by the general meeting of shareholders, subject to the prior rights of holders of all classes of shares outstanding having priority rights to dividends. No dividends have been declared from the Company’s inception through July 31, 2024. The board of directors has been authorized by the general meeting of shareholders, on the Company’s behalf, to issue the Company’s ordinary shares and grant rights to acquire the Company’s ordinary shares in an amount up to 20% of the issued share capital of the Company as of August 21, 2023. This authorization is valid for a period of 18 months from October 5, 2023. Ordinary Shares Reserved for Issuance The Company has reserved ordinary shares for issuance as follows: As of As of Stock options issued and outstanding 2,322,860 2,640,423 RSUs issued and outstanding 6,775,874 7,076,836 Available for future grants 24,938,123 20,252,732 Available for 2022 ESPP 5,654,835 5,654,835 Total ordinary shares reserved 39,691,692 35,624,826 Preference Shares The Company’s authorized preference share capital pursuant to its articles of association amounts to 165 million preference shares at a par value per preference share of €0.01. Each holder of preference shares has rights and preferences, including the right to one vote per preference share. As of July 31, 2024, there were no preference shares issued or outstanding. Preference shares in the capital of the Company may currently only be issued pursuant to a resolution adopted by the general meeting of shareholders at the proposal of the board of directors.

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	Jul. 31, 2024
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. No ordinary shares were purchased under the 2022 ESPP during the three months ended July 31, 2024 and 2023. Stock-based compensation expense recognized related to the 2022 ESPP was $2.2 million and $1.8 million for the three months ended July 31, 2024 and 2023, respectively. 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 units (“RSUs”) (which include some performance share units) 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. 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 and RSUs 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 20,252,732 Shares authorized 5,085,297 Options canceled 4,755 RSUs granted (661,565) RSUs canceled 256,904 Available at end of period 24,938,123 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, 2024 2,640,423 $ 38.23 4.67 $ 178,081 Stock options exercised (312,808) $ 15.17 Stock options canceled (4,755) $ 13.22 Balance as of July 31, 2024 2,322,860 $ 41.39 4.52 $ 165,932 Exercisable as of July 31, 2024 2,118,697 $ 36.54 4.27 $ 160,969 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. No stock options were granted during the three months ended July 31, 2024 and 2023. As of July 31, 2024, the Company had unrecognized stock-based compensation expense of $10.3 million related to unvested stock options that the Company expects to recognize over a weighted-average period of 1.45 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, 2024 7,076,836 $ 85.38 RSUs granted 661,565 $ 111.95 RSUs released (705,623) $ 89.04 RSUs canceled (256,904) $ 85.79 Outstanding and unvested at July 31, 2024 6,775,874 $ 87.57 As of July 31, 2024, the Company had unrecognized stock-based compensation expense of $551.9 million related to RSUs that the Company expects to recognize over a weighted-average period of 2.67 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, 2024 2023 Cost of revenue Subscription $ 2,297 $ 2,183 Services 3,467 2,796 Research and development 24,021 22,436 Sales and marketing 21,079 18,839 General and administrative 12,679 10,873 Total stock-based compensation expense $ 63,543 $ 57,127

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Ordinary Shareholders	3 Months Ended
	Jul. 31, 2024
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, 2024 2023 Numerator: Net loss $ (49,227) $ (48,508) Denominator: Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted 102,284,435 97,942,049 Net loss per share attributable to ordinary shareholders, basic and diluted $ (0.48) $ (0.50) 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, 2024 2023 Stock options 2,322,860 3,723,556 RSUs 6,775,874 6,976,012 2022 ESPP 113,055 196,399 Total 9,211,789 10,895,967

Income Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2024
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 $20.1 million and $13.3 million for the three months ended July 31, 2024 and 2023, respectively. The Company’s effective tax rate is affected by recurring items, such as tax rates in jurisdictions outside the Netherlands and the relative amounts of income that is earned in those jurisdictions and non-deductible stock-based compensation as well as one-time tax benefits or charges. For the three months ended July 31, 2024, the provision for income taxes includes a one-time charge of $2.2 million associated with acquisition-related integration. The calculation of income taxes is based upon the estimated annual effective tax rates for the year applied to the current period income 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. In 2021, the Organization for Economic Cooperation and Development (“OECD”) published Pillar Two Model Rules defining a global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules concerning the implementation of the Pillar Two global minimum tax. A number of countries have proposed or enacted legislation to implement core elements of the Pillar Two proposal. Pillar Two did not have a significant impact on the Company’s condensed consolidated financial statements for the three months ended July 31, 2024. Although the Company is monitoring developments and evaluating the potential impact on future periods, the Company does not expect Pillar Two to have a significant impact on its consolidated financial statements for the fiscal year ending April 30, 2025. The Company continues to monitor the impact of proposed and enacted global tax legislation.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jul. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The 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 of up to 6% of the participating employee’s W-2 earnings and wages. The Company recorded $5.2 million and $4.8 million of expense for the three months ended July 31, 2024 and 2023, respectively, related to the 401(k) Plan.

Segment Information

Segment Information	3 Months Ended
	Jul. 31, 2024
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, 2024 2023 United States $ 198,289 $ 170,239 Rest of world 149,131 123,514 Total revenue $ 347,420 $ 293,753 Other than the United States, no individual country accounted for 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 $ 8,924 $ 10,571 The Netherlands 3,488 3,716 United Kingdom 3,084 3,470 Rest of world 7,215 8,202 Total long-lived assets $ 22,711 $ 25,959

Restructuring and Other Related

Restructuring and Other Related Charges	3 Months Ended
	Jul. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Related Charges	Restructuring and Other Related Charges

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (49,227)	$ (48,508)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jul. 31, 2024
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, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated balance sheet as of July 31, 2024 and interim condensed consolidated statements of operations, comprehensive loss, shareholders’ equity, and cash flows for the three months ended July 31, 2024 and 2023 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, 2024; results of the Company’s operations for the three months ended July 31, 2024 and 2023; statements of shareholders’ equity for the three months ended July 31, 2024 and 2023; and statements of cash flows for the three months ended July 31, 2024 and 2023. 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, 2024 are not necessarily indicative of the operating results expected for the fiscal year ending April 30, 2025, 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, 2024 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, 2024 filed with the SEC on June 14, 2024 (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 2025, for example, refer to the fiscal year ended April 30, 2025.
Use of Estimates and Judgments	Use of Estimates and Judgments The preparation of the condensed 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 and assumptions include, but are not limited to, standalone selling price (“SSP”) for each distinct performance obligation included in customer contracts with multiple performance obligations, the period of benefit for deferred contract acquisition costs, allowance for credit losses, valuation of stock-based compensation, 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 or 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 condensed 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.
Recently Adopted Accounting Pronouncements And New Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements The Company did not adopt any accounting pronouncements during the three months ended July 31, 2024. New Accounting Pronouncements Not Yet Adopted Income Taxes: In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, requiring enhancements and further transparency to certain income tax disclosures. The new guidance requires consistent categories and greater disaggregation of information in the tax rate reconciliation and information about income taxes paid disaggregated by jurisdiction. The guidance becomes effective for the Company for the fiscal year ending April 30, 2026. Early adoption is permitted. Upon adoption, the guidance may be applied prospectively or retrospectively. The Company is currently evaluating the impact of adopting this standard on its condensed consolidated financial statements. Segment Reporting: In November 2023, the FASB issued ASU No. 2023-07, S egment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides updates to qualitative and quantitative reportable segment disclosure requirements, including enhanced disclosures about significant segment expenses and increased interim disclosure requirements, among others. The guidance becomes effective for the Company for fiscal years beginning after April 30, 2024 and interim periods within fiscal years beginning after April 30, 2025. Early adoption is permitted. Upon adoption, the guidance should be applied retrospectively. The Company is currently evaluating the impact of adopting this standard on its condensed consolidated financial statements.

Revenue and Performance Obligat

Revenue and Performance Obligations (Tables)	3 Months Ended
	Jul. 31, 2024
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, 2024 2023 Amount % of Amount % of Elastic Cloud $ 157,281 45 % $ 121,172 41 % Other subscription 166,493 48 % 149,075 51 % Total subscription 323,774 93 % 270,247 92 % Services 23,646 7 % 23,506 8 % Total revenue $ 347,420 100 % $ 293,753 100 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jul. 31, 2024
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, 2024 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 200,936 $ — $ — $ 200,936 U.S. treasury securities 17,717 — — 17,717 Total included in cash equivalents 218,653 — — 218,653 Marketable securities: Certificates of deposit — 45,265 — 45,265 Commercial paper — 42,343 — 42,343 Municipal securities — 30,353 — 30,353 U.S. treasury securities 109,649 — — 109,649 International treasuries — 14,790 — 14,790 Corporate debt securities — 278,757 — 278,757 U.S. agency bonds — 31,302 — 31,302 Total marketable securities 109,649 442,810 — 552,459 Mutual fund investments (1) 1,174 — — 1,174 Total financial assets $ 329,476 $ 442,810 $ — $ 772,286 (1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of Other assets in the Company’s condensed consolidated balance sheets. The following table summarizes assets that are measured at fair value on a recurring basis as of April 30, 2024 (in thousands): Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 180,248 $ — $ — $ 180,248 U.S. treasury securities 35,407 — — 35,407 Corporate debt securities — 699 — 699 Total included in cash equivalents 215,655 699 — 216,354 Marketable securities: Certificates of deposit — 42,972 — 42,972 Commercial paper — 43,051 — 43,051 Municipal securities — 27,806 — 27,806 U.S. treasury securities 112,471 — — 112,471 International treasuries — 12,642 — 12,642 Corporate debt securities — 269,168 — 269,168 U.S. agency bonds — 35,892 — 35,892 Total marketable securities 112,471 431,531 — 544,002 Mutual fund investments (1) 461 — — 461 Total financial assets $ 328,587 $ 432,230 $ — $ 760,817 (1) Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of Other assets in the Company’s condensed consolidated balance sheets. The fair value of available-for-sale securities, by remaining contractual maturity, are as follows (in thousands): As of As of Due within 1 year $ 303,834 $ 298,876 Due between 1 year and 3 years 248,625 245,126 Total marketable securities $ 552,459 $ 544,002

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Jul. 31, 2024
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 $ 13,125 $ 12,683 Computer hardware and software 3 3,670 3,464 Furniture and fixtures 3-5 7,420 7,395 Assets under construction 241 428 Total property and equipment 24,456 23,970 Less: accumulated depreciation (19,503) (18,517) Property and equipment, net $ 4,953 $ 5,453
Schedule of Intangible Assets	Intangible assets consisted of the following as of July 31, 2024 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 76,130 $ 58,764 $ 17,366 2.7 Foreign currency translation adjustment (25) Total $ 17,341 Intangible assets consisted of the following as of April 30, 2024 (in thousands): Gross Fair Value Accumulated Amortization Net Book Value Weighted Average Developed technology $ 76,130 $ 55,489 $ 20,641 2.7 Foreign currency translation adjustment (21) Total $ 20,620
Schedule of Amortization Expense for Intangible Assets	Amortization expense for the intangible assets for the three months ended July 31, 2024 and 2023 was as follows (in thousands): Three Months Ended July 31, 2024 2023 Cost of revenue – subscription $ 3,275 $ 2,976 Sales and marketing — 1,232 Total amortization of acquired intangible assets $ 3,275 $ 4,208
Schedule of Expected Future Amortization Expense of Intangible Assets	The expected future amortization expense related to the intangible assets as of July 31, 2024 was as follows (in thousands, by fiscal year): Remainder of 2025 $ 5,936 2026 6,256 2027 3,244 2028 1,202 2029 703 Total $ 17,341
Schedule of Changes to Goodwill	The following table represents the changes to goodwill (in thousands): Carrying Amount Balance as of April 30, 2024 $ 319,380 Foreign currency translation adjustment 37 Balance as of July 31, 2024 $ 319,417
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): As of As of Accrued expenses $ 36,548 $ 34,779 Income taxes payable 13,276 10,596 Value added taxes payable 4,906 8,849 Accrued interest 988 6,918 Other 16,690 14,150 Total accrued expenses and other liabilities $ 72,408 $ 75,292
Schedule of Accrued Compensation and Benefits	Accrued compensation and benefits consisted of the following (in thousands): As of As of Accrued vacation $ 36,305 $ 35,005 Accrued commissions 11,243 34,339 Accrued payroll and withholding taxes 10,225 9,830 Other 18,307 14,517 Total accrued compensation and benefits $ 76,080 $ 93,691
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, 2024 2023 Beginning balance $ 4,979 $ 3,409 Bad debt expense 786 628 Accounts written off (1,395) (704) Ending balance $ 4,370 $ 3,333

Senior Notes (Tables)

Senior Notes (Tables)	3 Months Ended
	Jul. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	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 (6,113) (6,388) Net carrying amount $ 568,887 $ 568,612 The following table sets forth the interest expense recognized related to the Senior Notes (in thousands): Three Months Ended July 31, 2024 2023 Contractual interest expense $ 5,930 $ 5,930 Amortization of debt issuance costs 275 263 Total interest expense related to the Senior Notes $ 6,205 $ 6,193

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 31, 2024
Leases [Abstract]
Components of Lease Costs	Components of lease costs included in the condensed consolidated statements of operations were as follows (in thousands): Three Months Ended July 31, 2024 2023 Operating lease cost $ 3,137 $ 2,855 Short-term lease cost 540 474 Variable lease cost 402 237 Total lease cost $ 4,079 $ 3,566
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) 2.5 Weighted average discount rate 5.1 %
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, 2024 were as follows (in thousands, by fiscal year): Remainder of 2025 $ 9,548 2026 7,586 2027 2,711 2028 2,369 2029 1,042 Thereafter 69 Total minimum lease payments 23,325 Less imputed interest (1,468) Present value of future minimum lease payments 21,857 Less current lease liabilities (11,143) Operating lease liabilities, non-current $ 10,714

Ordinary Shares (Tables)

Ordinary Shares (Tables)	3 Months Ended
	Jul. 31, 2024
Equity [Abstract]
Summary of Ordinary Shares Reserved for Issuance	The Company has reserved ordinary shares for issuance as follows: As of As of Stock options issued and outstanding 2,322,860 2,640,423 RSUs issued and outstanding 6,775,874 7,076,836 Available for future grants 24,938,123 20,252,732 Available for 2022 ESPP 5,654,835 5,654,835 Total ordinary shares reserved 39,691,692 35,624,826

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Jul. 31, 2024
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 20,252,732 Shares authorized 5,085,297 Options canceled 4,755 RSUs granted (661,565) RSUs canceled 256,904 Available at end of period 24,938,123
Summary of Stock Option Activity	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, 2024 2,640,423 $ 38.23 4.67 $ 178,081 Stock options exercised (312,808) $ 15.17 Stock options canceled (4,755) $ 13.22 Balance as of July 31, 2024 2,322,860 $ 41.39 4.52 $ 165,932 Exercisable as of July 31, 2024 2,118,697 $ 36.54 4.27 $ 160,969
Summary of RSU Activity	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, 2024 7,076,836 $ 85.38 RSUs granted 661,565 $ 111.95 RSUs released (705,623) $ 89.04 RSUs canceled (256,904) $ 85.79 Outstanding and unvested at July 31, 2024 6,775,874 $ 87.57
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, 2024 2023 Cost of revenue Subscription $ 2,297 $ 2,183 Services 3,467 2,796 Research and development 24,021 22,436 Sales and marketing 21,079 18,839 General and administrative 12,679 10,873 Total stock-based compensation expense $ 63,543 $ 57,127

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Ordinary Shareholders (Tables)	3 Months Ended
	Jul. 31, 2024
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, 2024 2023 Numerator: Net loss $ (49,227) $ (48,508) Denominator: Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted 102,284,435 97,942,049 Net loss per share attributable to ordinary shareholders, basic and diluted $ (0.48) $ (0.50)
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, 2024 2023 Stock options 2,322,860 3,723,556 RSUs 6,775,874 6,976,012 2022 ESPP 113,055 196,399 Total 9,211,789 10,895,967

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jul. 31, 2024
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, 2024 2023 United States $ 198,289 $ 170,239 Rest of world 149,131 123,514 Total revenue $ 347,420 $ 293,753
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 $ 8,924 $ 10,571 The Netherlands 3,488 3,716 United Kingdom 3,084 3,470 Rest of world 7,215 8,202 Total long-lived assets $ 22,711 $ 25,959

Revenue - Schedule of Revenue b

Revenue - Schedule of Revenue by Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 347,420	$ 293,753
Revenue | Product
Disaggregation of Revenue [Line Items]
% of Total Revenue	100%	100%
Total subscription
Disaggregation of Revenue [Line Items]
Total revenue	$ 323,774	$ 270,247
Total subscription | Revenue | Product
Disaggregation of Revenue [Line Items]
% of Total Revenue	93%	92%
SaaS
Disaggregation of Revenue [Line Items]
Total revenue	$ 157,281	$ 121,172
SaaS | Revenue | Product
Disaggregation of Revenue [Line Items]
% of Total Revenue	45%	41%
Self-managed subscription
Disaggregation of Revenue [Line Items]
Total revenue	$ 166,493	$ 149,075
Self-managed subscription | Revenue | Product
Disaggregation of Revenue [Line Items]
% of Total Revenue	48%	51%
Professional services
Disaggregation of Revenue [Line Items]
Total revenue	$ 23,646	$ 23,506
Professional services | Revenue | Product
Disaggregation of Revenue [Line Items]
% of Total Revenue	7%	8%

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Thousands	3 Months Ended
	Jul. 31, 2024 USD ($) Customer	Jul. 31, 2023 USD ($) Customer	Apr. 30, 2024 USD ($)
Disaggregation of Revenue [Line Items]
Deferred revenue, revenue recognized	$ 261,400	$ 210,300
Revenue, remaining performance obligation, amount	$ 1,259,000
Revenue, remaining performance obligation, percentage	90%
Revenue, remaining performance obligation, remaining duration	24 months
Amortization of deferred contract acquisition costs	$ 23,181	17,572
Impairment of deferred contract acquisition costs recognized	0	$ 0
Contracts with Customers
Disaggregation of Revenue [Line Items]
Unbilled accounts receivable	$ 2,700		$ 2,500
Net Accounts Receivable | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Number of customers | Customer	1	1
Net Accounts Receivable | Customer Concentration Risk | Customer One
Disaggregation of Revenue [Line Items]
Concentration risk percentage	15%	13%
Revenue, Product and Service Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Number of customers | Customer	1	1
Revenue, Product and Service Benchmark | Customer Concentration Risk | Customer One
Disaggregation of Revenue [Line Items]
Concentration risk percentage	12%	10%

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, 2024		Apr. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 218,653		$ 216,354
Marketable securities	552,459		544,002
Total financial assets	772,286		760,817
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities			42,972
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	109,649		112,471
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	45,265
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	42,343		43,051
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	30,353		27,806
International treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	14,790		12,642
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets			699
Marketable securities	278,757		269,168
U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	31,302		35,892
Mutual fund investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	1,174	[1]	461	[2]
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	218,653		215,655
Marketable securities	109,649		112,471
Total financial assets	329,476		328,587
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities			0
Level 1 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	109,649		112,471
Level 1 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0
Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 1 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 1 | International treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets			0
Marketable securities	0		0
Level 1 | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 1 | Mutual fund investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	1,174	[1]	461	[2]
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0		699
Marketable securities	442,810		431,531
Total financial assets	442,810		432,230
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities			42,972
Level 2 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	45,265
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	42,343		43,051
Level 2 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	30,353		27,806
Level 2 | International treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	14,790		12,642
Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets			699
Marketable securities	278,757		269,168
Level 2 | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	31,302		35,892
Level 2 | Mutual fund investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0		0
Marketable securities	0		0
Total financial assets	0		0
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities			0
Level 3 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 3 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0
Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 3 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 3 | International treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 3 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets			0
Marketable securities	0		0
Level 3 | U.S. agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Level 3 | Mutual fund investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0		0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	200,936		180,248
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	200,936		180,248
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0		0
Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0		0
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	17,717		35,407
U.S. treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	17,717		35,407
U.S. treasury securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0		0
U.S. treasury securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 0		$ 0
[1]Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of Other assets in the Company’s condensed consolidated balance sheets.[2]Mutual fund investments are held in an irrevocable rabbi trust for payment obligations to non-qualified deferred compensation plan participants. The investments are recorded as part of Other assets in the Company’s condensed consolidated balance sheets.

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2024	Jul. 31, 2023
Fair Value Disclosures [Abstract]
Interest income		$ 11.4	$ 6
Proceeds from the issuance of debt	$ 575
Debt instrument, interest rate (in percent)	4.125%
Fair value of senior notes		$ 532.1

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value by Maturity Date (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Fair Value Disclosures [Abstract]
Due within 1 year	$ 303,834	$ 298,876
Due between 1 year and 3 years	248,625	245,126
Total marketable securities	$ 552,459	$ 544,002

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Nov. 30, 2023	Jul. 31, 2024	Apr. 30, 2024
Business Acquisition [Line Items]
Goodwill		$ 319,417	$ 319,380
Developed technology
Business Acquisition [Line Items]
Acquired identifiable intangible assets amortization period		2 years 8 months 12 days	2 years 8 months 12 days
Opster
Business Acquisition [Line Items]
Share capital acquired in business combination (in percentage)	100%
Purchase consideration	$ 23,000
Consideration held back for idemnity obligations	3,000
Goodwill	15,900
Opster | Developed technology
Business Acquisition [Line Items]
Intangible assets acquired	$ 6,000
Acquired identifiable intangible assets amortization period	5 years

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Cost and Accumulated Depreciation of Property and Equipment (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 24,456	$ 23,970
Less: accumulated depreciation	(19,503)	(18,517)
Property and equipment, net	4,953	5,453
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 13,125	12,683
Computer hardware and software
Property, Plant and Equipment [Line Items]
Useful Life (in years)	3 years
Total property and equipment	$ 3,670	3,464
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 7,420	7,395
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	5 years
Assets under construction
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 241	$ 428

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($)	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Balance Sheet Components [Abstract]
Depreciation expense	$ 900,000	$ 800,000
Goodwill impairment	$ 0	$ 0

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2024	Apr. 30, 2024
Finite-Lived Intangible Assets [Line Items]
Foreign currency translation adjustment	$ (25)	$ (21)
Total	17,341	20,620
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Fair Value	76,130	76,130
Accumulated Amortization	58,764	55,489
Net Book Value	$ 17,366	$ 20,641
Weighted Average Remaining Useful Life (in years)	2 years 8 months 12 days	2 years 8 months 12 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, 2024	Jul. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total amortization of acquired intangible assets	$ 3,275	$ 4,208
Cost of revenue | Subscription - self-managed and SaaS
Finite-Lived Intangible Assets [Line Items]
Total amortization of acquired intangible assets	3,275	2,976
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Total amortization of acquired intangible assets	$ 0	$ 1,232

Balance Sheet Components - Sc_4

Balance Sheet Components - Schedule of Expected Future Amortization Expense of the Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2025	$ 5,936
2026	6,256
2027	3,244
2028	1,202
2029	703
Total	$ 17,341	$ 20,620

Balance Sheet Components - Sc_5

Balance Sheet Components - Schedule of Changes to Goodwill (Details) $ in Thousands	3 Months Ended
	Jul. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 319,380
Foreign currency translation adjustment	37
Ending balance	$ 319,417

Balance Sheet Components - Sc_6

Balance Sheet Components - Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Balance Sheet Components [Abstract]
Accrued expenses	$ 36,548	$ 34,779
Income taxes payable	13,276	10,596
Value added taxes payable	4,906	8,849
Accrued interest	988	6,918
Other	16,690	14,150
Total accrued expenses and other liabilities	$ 72,408	$ 75,292

Balance Sheet Components - Sc_7

Balance Sheet Components - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Balance Sheet Components [Abstract]
Accrued vacation	$ 36,305	$ 35,005
Accrued commissions	11,243	34,339
Accrued payroll and withholding taxes	10,225	9,830
Other	18,307	14,517
Total accrued compensation and benefits	$ 76,080	$ 93,691

Balance Sheet Components - Liab

Balance Sheet Components - Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 4,979	$ 3,409
Bad debt expense	786	628
Accounts written off	(1,395)	(704)
Ending balance	$ 4,370	$ 3,333

Senior Notes - Additional Infor

Senior Notes - Additional Information (Details) - USD ($)	1 Months Ended
	Jul. 31, 2021	Jul. 31, 2024	Apr. 30, 2024
Debt Instrument [Line Items]
Proceeds from the issuance of debt	$ 575,000,000
Long-term debt, net		$ 568,887,000	$ 568,612,000
Senior Notes
Debt Instrument [Line Items]
Proceeds from the issuance of debt	575,000,000
Long-term debt, net	565,700,000
underwriting commissions	7,200,000
Other issuance cost	2,100,000
Debt issuance cost	$ 9,300,000
Repurchase of debt (as a percent)	101%
Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percent)	100%
Redemption price of principal (as a percent)	40%
Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percent)	104.125%
Senior Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percent)	100%

Senior Notes - Carrying Amount

Senior Notes - Carrying Amount of Senior Notes And Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Apr. 30, 2024
Debt Disclosure [Abstract]
Principal	$ 575,000		$ 575,000
Unamortized debt issuance costs	(6,113)		(6,388)
Long-term debt, net	568,887		$ 568,612
Contractual interest expense	5,930	$ 5,930
Amortization of debt issuance costs	275	263
Total interest expense related to the Senior Notes	$ 6,205	$ 6,193

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Jul. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding amount	$ 2,900,000
Provision for indemnification claims	$ 0

Leases - Components of Lease Co

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Leases [Abstract]
Operating lease cost	$ 3,137	$ 2,855
Short-term lease cost	540	474
Variable lease cost	402	237
Total lease cost	$ 4,079	$ 3,566

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate Information (Details)	Jul. 31, 2024
Leases [Abstract]
Weighted average remaining lease term (in years)	2 years 6 months
Weighted average discount rate	5.10%

Leases - Future Minimum Lease B

Leases - Future Minimum Lease Based on Current Lease Accounting Standard (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Leases [Abstract]
Remainder of 2025	$ 9,548
2026	7,586
2027	2,711
2028	2,369
2029	1,042
Thereafter	69
Total minimum lease payments	23,325
Less imputed interest	(1,468)
Present value of future minimum lease payments	21,857
Less current lease liabilities	(11,143)	$ (12,187)
Operating lease liabilities, non-current	$ 10,714	$ 12,898

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	Jul. 31, 2024 USD ($)
Leases [Abstract]
Lease term (in years)	11 years
Undiscounted future minimum lease payments	$ 12.4

Ordinary Shares - Additional In

Ordinary Shares - Additional Information (Details)	3 Months Ended
	Jul. 31, 2024 € / shares	Jul. 31, 2024 USD ($) shares	Apr. 30, 2024 shares	Oct. 10, 2018 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]
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]
Ordinary shares, par value (in € / shares) | € / shares	€ 0.01

Ordinary Shares - Summary of Or

Ordinary Shares - Summary of Ordinary Shares Reserved for Issuance (Details) - shares	Jul. 31, 2024	Apr. 30, 2024
Class of Stock [Line Items]
Total ordinary shares reserved (in shares)	39,691,692	35,624,826
Stock options
Class of Stock [Line Items]
Total ordinary shares reserved (in shares)	2,322,860	2,640,423
RSUs
Class of Stock [Line Items]
Total ordinary shares reserved (in shares)	6,775,874	7,076,836
2012 Plan
Class of Stock [Line Items]
Total ordinary shares reserved (in shares)	24,938,123	20,252,732
Employee Stock Purchase Plan 2022
Class of Stock [Line Items]
Total ordinary shares reserved (in shares)	5,654,835	5,654,835

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 31, 2022	Jul. 31, 2024	Jul. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 63,543	$ 57,127
Unrecognized stock-based compensation expense related to unvested stock options		$ 10,300
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		0	0
2012 Plan | New Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term (in years)		4 years
ESPP | Employee Stock Purchase Plan 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of shares reserved	$ 6,000
Purchase price of common stock, percent of market price	85%
Purchase period (in months)	6 months
Issuance of ordinary shares under employee stock purchase plan (in shares)		0	0
Stock-based compensation expense		$ 2,200	$ 1,800
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized over a weighted-average period (in years)		1 year 5 months 12 days
Equity Settled RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options		$ 551,900
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized over a weighted-average period (in years)		2 years 8 months 1 day

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Equity Awards Available for Grant (Details)	3 Months Ended
	Jul. 31, 2024 shares
Equity Awards, Outstanding [Roll Forward]
Available at beginning of fiscal year (in shares)	20,252,732
Shares authorized (in shares)	5,085,297
Options cancelled (in shares)	4,755
Available at end of fiscal year (in shares)	24,938,123
RSUs
Equity Awards, Outstanding [Roll Forward]
RSUs granted (in shares)	(661,565)
RSUs cancelled (in shares)	256,904

Equity Incentive Plans - Summ_2

Equity Incentive Plans - Summary of Stock Option Activity (Details) - 2012 Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2024	Apr. 30, 2024
Options, Outstanding Number [Roll Forward]
Beginning balance (in shares)	2,640,423
Stock options assumed in acquisition (in shares)	(312,808)
Stock options exercised (in shares)	(4,755)
Ending balance (in shares)	2,322,860	2,640,423
Exercisable (in shares)	2,118,697
Options Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance (in dollars per share)	$ 38.23
Stock options exercised (in dollars per share)	15.17
Stock options cancelled (in dollars per share)	13.22
Ending balance (in dollars per share)	41.39	$ 38.23
Exercisable (in dollars per share)	$ 36.54
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term Rollforward
Remaining Contractual Term (in years)	4 years 6 months 7 days	4 years 8 months 1 day
Exercisable, Remaining Contractual Term (in years)	4 years 3 months 7 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Aggregate Intrinsic Value Rollforward
Beginning balance	$ 178,081
Ending balance	165,932	$ 178,081
Exercisable	$ 160,969

Equity Incentive Plans - Summ_3

Equity Incentive Plans - Summary of RSU Activity (Details) - RSUs	3 Months Ended
	Jul. 31, 2024 $ / shares shares
Non-option Awards, Outstanding Number [Roll Forward]
Number of Awards, RSUs granted (in shares)	661,565
Number of Awards, RSUs cancelled (in shares)	(256,904)
2012 Plan
Non-option Awards, Outstanding Number [Roll Forward]
Number of Awards Outstanding and unvested at Beginning of Year ((in shares)	7,076,836
Number of Awards, RSUs granted (in shares)	661,565
Number of Awards, RSUs released (in shares)	(705,623)
Number of Awards, RSUs cancelled (in shares)	(256,904)
Number of Awards Outstanding and unvested at Year End (in shares)	6,775,874
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	$ 85.38
Weighted-Average Grant Date Fair Value, RSUs granted (in dollar per share) | $ / shares	111.95
Weighted-Average Grant Date Fair Value, RSUs released (in dollar per share) | $ / shares	89.04
Weighted-Average Grant Date Fair Value, RSUs cancelled (in dollar per share) | $ / shares	85.79
Weighted-Average Grant Date Fair Value, Outstanding and unvested, End of Year (in dollar per share) | $ / shares	$ 87.57

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, 2024	Jul. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 63,543	$ 57,127
Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,297	2,183
Services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	3,467	2,796
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	24,021	22,436
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	21,079	18,839
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 12,679	$ 10,873

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, 2024	Jul. 31, 2023
Numerator:
Net loss	$ (49,227)	$ (48,508)
Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted
Basic (in shares)	102,284,435	97,942,049
Diluted (in shares)	102,284,435	97,942,049
Net loss per share attributable to ordinary shareholders, basic and diluted
Basic (in dollars per share)	$ (0.48)	$ (0.50)
Diluted (in dollars per share)	$ (0.48)	$ (0.50)

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, 2024	Jul. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	9,211,789	10,895,967
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,322,860	3,723,556
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,775,874	6,976,012
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	113,055	196,399

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 20,071	$ 13,255
Tax provision adjustment, acquisition related	$ 2,200

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
United States
Defined Contribution Plan Disclosure [Line Items]
Defined contribution expense related to plan	$ 5.2	$ 4.8
Other Countries
Defined Contribution Plan Disclosure [Line Items]
Defined contribution expense related to plan	$ 3.9	$ 3.1
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, 2024	Jul. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 347,420	$ 293,753
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	198,289	170,239
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 149,131	$ 123,514

Segment Information - Schedul_2

Segment Information - Schedule of Property and Equipment, Net of Depreciation (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 22,711	$ 25,959
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	8,924	10,571
The Netherlands
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	3,488	3,716
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	3,084	3,470
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 7,215	$ 8,202

Restructuring and Other Relat_2

Restructuring and Other Related Charges - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other related charges	$ 139	$ 725
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other related charges	$ 100	$ 700

Restructuring and Other Relat_3

Restructuring and Other Related Charges - Summary of Restructuring Activities (Details) - Employee Severance $ in Thousands	Jul. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 3,600
Ending balance	$ 800