Cover Page	12 Months Ended
Cover Page	Apr. 30, 2025 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Apr. 30, 2025
Document Fiscal Year Focus	2025
Document Transition Report	false
Document Shell Company Report	false
Document Fiscal Period Focus	FY
Entity Filer Category	Non-accelerated Filer
Entity Registrant Name	ImmunoPrecise Antibodies Ltd.
Entity Central Index Key	0001715925
Entity File Number	001-39530
Entity Shell Company	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--04-30
Document Accounting Standard	International Financial Reporting Standards
Entity Incorporation, State or Country Code	A1
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, Address Line One	Industrious 823 Congress Ave Suite 300
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78701
Entity Address, Country	US
Entity Well-known Seasoned Issuer	No
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	IPA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	46,154,118
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Annual Report	true
Document Registration Statement	false
Auditor Opinion [Text Block]	Opinion on the financial statements We have audited the accompanying consolidated balance sheets of Immuno Precise Antibodies Ltd. (a British Columbia limited company) and subsidiaries (the “Company”) as of April 30, 2025 and 2024, the related consolidated statements of comprehensive loss, changes in shareholders’ equity, and cash flows for each of the three years in the period ended April 30, 2025, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of April 30, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended April 30, 2025, in conformity with Financial Reporting Standards as issued by the International Standards Board.
Auditor Name	Grant Thornton LLP
Auditor Firm ID	248
Auditor Location	Houston, Texas
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Joseph Scheffler,
Entity Address, Address Line One	Industrious 823 Congress Ave Suite 300
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Contact Personnel Email Address	jscheffler@ipatherapeutics.com
Entity Address, Postal Zip Code	78701
Entity Address, Country	US
City Area Code	250
Local Phone Number	483-0308

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024
Current assets
Cash	$ 10,665	$ 3,459
Amounts receivable, net	4,115	3,790
Tax receivable	143	414
Inventory	2,095	2,139
Unbilled revenue	548	277
Prepaid expenses	1,188	1,408
Total current assets	18,754	11,487
Restricted cash	126	86
Deposit on equipment	502	475
Property and equipment	15,762	16,696
Intangible assets	1,067	23,557
Goodwill	8,230	7,687
Total assets	44,441	59,988
Current liabilities
Accounts payable and accrued liabilities	5,283	4,372
Deferred revenue	1,090	1,352
Tax payable	475	553
Leases	1,850	1,563
Deferred acquisition payments	314	284
Current liabilities	9,012	8,124
Leases	11,553	12,118
Deferred income tax liability	250	4,068
Total liabilities	20,815	24,310
SHAREHOLDERS' EQUITY
Share capital	136,371	119,773
Contributed surplus	12,833	12,388
Accumulated other comprehensive income	3,216	2,077
Accumulated deficit	(128,794)	(98,560)
Equity	23,626	35,678
Total liabilities and shareholders' equity	$ 44,441	$ 59,988

Consolidated Statements of Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Profit or loss [abstract]
REVENUE	$ 24,520	$ 24,518	$ 20,665
COST OF SALES	10,972	12,465	9,102
GROSS PROFIT	13,548	12,053	11,563
EXPENSES
Research and development	4,943	4,043	14,101
Sales and marketing	4,298	3,543	3,608
General and administrative	14,735	15,592	15,383
Impairment of Goodwill	0	11,161	2,460
Impairment of Intangible assets	21,184	3,870	0
Amortization of Intangible assets	1,948	2,968	4,414
Total expenses	47,108	41,177	39,966
Loss before other income (expenses) and income taxes	(33,560)	(29,124)	(28,403)
OTHER INCOME (EXPENSES)
Accretion	(10)	(19)	(30)
Grant and subsidy income	180	331	332
Interest and other (expense) income	(283)	23	122
Unrealized foreign exchange (loss) gain	(594)	86	227
Other income (expenses)	(707)	421	651
Loss before income taxes	(34,267)	(28,703)	(27,752)
Income taxes	4,033	2,588	1,192
NET LOSS FOR THE PERIOD	(30,234)	(26,115)	(26,560)
Items that will be reclassified subsequently to loss
Exchange difference on translating foreign operations	1,139	(613)	5,104
COMPREHENSIVE LOSS FOR THE PERIOD	$ (29,095)	$ (26,728)	$ (21,456)
LOSS PER SHARE - BASIC	$ (0.91)	$ (1.02)	$ (1.07)
LOSS PER SHARE - DILUTED	$ (0.91)	$ (1.02)	$ (1.07)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	33,385,499	25,635,526	24,897,185

Consolidated Statements of Changes in Shareholders' Equity - CAD ($) $ in Thousands	Total	Share Capital	Contributed Surplus	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance at Apr. 30, 2023	$ 58,511	$ 117,470	$ 10,796	$ 2,690	$ (72,445)
Beginning balance, shares at Apr. 30, 2023	25,050,260
Share-based expense	$ 1,535		1,535
Shares issued pursuant to issuance of common shares	$ 2,360	2,303	57
Shares issued pursuant to issuance of common shares, Shares	1,894,240
Comprehensive loss for the period	$ (26,728)			(613)	(26,115)
Ending balance at Apr. 30, 2024	$ 35,678	119,773	12,388	2,077	(98,560)
Ending balance, shares at Apr. 30, 2024	26,944,500
Shares issued pursuant to conversion of convertible debentures	$ 4,370	4,370
Shares issued pursuant to conversion of convertible debentures, shares	5,893,768
Shares issued pursuant to ATM	$ 12,228	12,228
Shares issued pursuant to ATM, shares	13,315,850
Share-based expense	$ 445		445
Comprehensive loss for the period	(29,095)			1,139	(30,234)
Ending balance at Apr. 30, 2025	$ 23,626	$ 136,371	$ 12,833	$ 3,216	$ (128,794)
Ending balance, shares at Apr. 30, 2025	46,154,118

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Operating activities:
Net loss for the period	$ (30,234)	$ (26,115)	$ (26,560)
Items not affecting cash:
Accretion	10	19	30
Amortization and depreciation	5,119	5,735	6,685
Asset impairment	21,184	15,031	2,460
Deferred income taxes	(3,935)	(1,773)	(926)
Foreign exchange	622	15	(146)
Gain on investment	(7)	(2)	(43)
Share-based expense	445	1,535	1,943
Items not affecting cash	(6,796)	(5,555)	(16,557)
Amounts receivable	(298)	(601)	(561)
Inventory	138	(102)	(185)
Unbilled revenue	(248)	360	21
Prepaid expenses	261	624	90
Accounts payable and accrued liabilities	827	983	(1,665)
Sales and income taxes payable and receivable	8	733	(896)
Deferred revenue	(302)	374	(80)
Net cash used in operating activities	(6,410)	(3,184)	(19,833)
Investing activities:
Purchase of equipment	(799)	(1,397)	(1,495)
Security depost on leases	0	(141)	40
Deferred acquisition payment	0	(146)	(592)
Sale of QVQ Holdings BV shares	0	121	80
Net cash used in investing activities	(799)	(1,563)	(1,967)
Financing activities:
Proceeds on share issuance, net of transaction costs	12,228	2,360	716
Repayment of leases	(1,577)	(1,339)	(1,337)
Net cash provided by (used in) financing activities	14,893	1,021	(621)
Foreign exchange	(438)	(1,095)	740
Cash - beginning of the period	3,545	8,366	30,047
Cash - end of the period	10,791	3,545	8,366
Cash is comprised of:
Cash	10,665	3,459	8,280
Restricted cash	126	86	86
Cash paid for interest	0	0	263
Cash paid for income tax	$ 2	$ 0	$ 591

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Apr. 30, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management, Strategy, and Governance	12 Months Ended
Cybersecurity Risk Management, Strategy, and Governance	Apr. 30, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	ITEM 16K – CYBERSECURITY Risk Management and Strategy As of the date of the filing of this Annual Report, the Company has information systems in place and has not suffered a “cybersecurity threat” (as defined in Item 106(a) of Regulation S-K) or “cybersecurity incident” (as defined in Item 106(a) of Regulation S-K). Moreover, the Company is aware of the evolution of cybersecurity risks and is taking proactive steps by keeping up to date our information systems and educating our personnel about these risks. In order to mitigate these risks to a degree, the Company has an in-house IT Director and utilizes Software as a server (SaaS) to monitor and update the Company’s information systems. The Company has implemented multiple measures to combat and reduce the risk of cybersecurity threats and cybersecurity incidents such as: • Engaging a IT Director in-house, who is available to respond immediately in the event of any cybersecurity threat or cybersecurity incident; • Developing internal System Use Policy and Information Security Policy reviewed by the CFO and IT Director enhancing the scrutiny of the emails received via a third-party security service provider to identify potential threats; and • Implementing informal educational outreach programs including email reminders to educate staff about certain cybersecurity risks. Governance The IT Director monitors cybersecurity risks and potential incidents while following and periodically reviewing the System Use policy and Information Security policy recommending updates to the CFO where needed. The CEO advises the Board of any potential cybersecurity threat and the corresponding mitigation steps needed. At the time of filing this Annual Report the Company does not have a subcommittee dedicated to cybersecurity. However, as the Company’s situation evolves, the Board will consider increased oversight to manage the risks from cybersecurity threats.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance The IT Director monitors cybersecurity risks and potential incidents while following and periodically reviewing the System Use policy and Information Security policy recommending updates to the CFO where needed. The CEO advises the Board of any potential cybersecurity threat and the corresponding mitigation steps needed. At the time of filing this Annual Report the Company does not have a subcommittee dedicated to cybersecurity. However, as the Company’s situation evolves, the Board will consider increased oversight to manage the risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The CEO advises the Board of any potential cybersecurity threat and the corresponding mitigation steps needed.However, as the Company’s situation evolves, the Board will consider increased oversight to manage the risks from cybersecurity threats.
Cybersecurity Risk Role of Management [Text Block]	The IT Director monitors cybersecurity risks and potential incidents while following and periodically reviewing the System Use policy and Information Security policy recommending updates to the CFO where needed. The CEO advises the Board of any potential cybersecurity threat and the corresponding mitigation steps needed. At the time of filing this Annual Report the Company does not have a subcommittee dedicated to cybersecurity. However, as the Company’s situation evolves, the Board will consider increased oversight to manage the risks from cybersecurity threats.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	IT Director monitors cybersecurity risks and potential incidents while following and periodically reviewing the System Use policy and Information Security policy recommending updates to the CFO where needed. The CEO advises the Board of any potential cybersecurity threat and the corresponding mitigation steps needed.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The IT Director monitors cybersecurity risks and potential incidents while following and periodically reviewing the System Use policy and Information Security policy recommending updates to the CFO where needed. The CEO advises the Board of any potential cybersecurity threat and the corresponding mitigation steps needed.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Nature of Operations

12 Months Ended

Apr. 30, 2025

Disclosure Of Nature Of Operations [Abstract]

Nature Of Operations

1.

NATURE OF OPERATIONS

ImmunoPrecise Antibodies Ltd. (the "Company" or “IPA”) was incorporated under the laws of Alberta on November 22, 1983. The Company is listed on the NASDAQ Capital Market (“Nasdaq”) under the trading ticker symbol “IPA.” The Company is a supplier of custom antibody discovery services. The address of the Company's corporate office is Industrious 823 Congress Ave Suite 300 Austin, Texas 78701.

Going concern basis

The consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern. The Company has incurred net losses since its inception, including $30.2 million for the year ended April 30, 2025, and has accumulated a deficit of $128.8 million as of April 30, 2025. The Company had $10.8 million cash on hand as of April 30, 2025. The Company expects its cash on hand as of April 30, 2025 will be insufficient to fund the Company’s operations for at least one year from the date these financial statements are available to be issued. These conditions raise material uncertainties which cast significant doubt as to whether the Company will be able to continue as a going concern should it not be able to obtain financing necessary to fund its planned revenue growth and working capital requirements.

The Company will need to raise additional funds to finance its operations and strategic goals and there can be no assurances that sufficient funding, including adequate financing, will be available. The ability of the Company to arrange additional financing in the future depends in part on the prevailing capital market conditions and profitability of its operations. If the Company is unable to raise sufficient funds, reductions in expenditures will be required, and this may impact the future growth plans of the Company.

Nasdaq Deficiency Notice

On August 19, 2024, the Company first received written notification (the "Notification Letter") from The Nasdaq Stock Market LLC indicating that the Company is not in compliance with the minimum bid price requirement set forth in the Nasdaq Rule 5450(a)(1) based on the closing bid price of the Common Shares of IPA (the “Common Shares”) being less than U.S.$1.00 per share for the 30 consecutive business days (the “Minimum Bid Requirement”) from July 5, 2024 to August 15, 2024. The Company was given a 180-day compliance period, or until February 17, 2025, to regain compliance with the Minimum Bid Requirement.

The Company did not regain compliance during the first 180-calendar-day compliance period. However, on February 20, 2025, the Company transferred its securities to the Nasdaq Capital Market and was granted an additional 180-day compliance period, or until August 18, 2025, to regain compliance with the Minimum Bid Requirement.

The Notification Letter is only a notification of deficiency, it is not a notice of imminent delisting, and it has no current immediate effect on the listing or trading of the Common Shares on Nasdaq. Nasdaq’s determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the exception of the Minimum Bid Requirement.

On July 13, 2025, Nasdaq notified the Company that it has determined that for the last 10 consecutive business days, from June 26, 2025 to July 10, 2025, the closing bid price of the Company’s common stock has been at U.S.$1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2), and this matter is now closed.

Basis of Presentation

12 Months Ended

Apr. 30, 2025

Basis Of Accounting [Abstract]

BASIS OF PRESENTATION

2.

BASIS OF PRESENTATION

(a)

Statement of compliance

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB"), and include the significant accounting policies as described in Note 3.

Certain items have been reclassified in the prior year financial statements to conform to the presentation and classification used in the current year. These reclassifications had no effect on the Company's consolidated operating results, financial position or cash flows.

These consolidated financial statements were approved by the Board of Directors.

(b)

Basis of measurement

These consolidated financial statements have been prepared on the historical cost basis. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cashflow information.

(c)

Basis of consolidation

These consolidated financial statements include the financial statements of the Company and the following subsidiaries which are wholly owned and subject to control by the Company:


Name of Subsidiary	% Equity Interest - April 30, 2025, 2024 and 2023	Country of Incorporation	Functional Currency
ImmunoPrecise Antibodies (Canada) Ltd.	100%	Canada	Canadian dollar
ImmunoPrecise Antibodies (USA) Ltd. ("IPA USA")	100%	USA	US dollar
ImmunoPrecise Antibodies (N.D.) Ltd.	100%	USA	US dollar
ImmunoPrecise Antibodies (MA) LLC	100%	USA	US dollar
Talem Therapeutics LLC ("Talem")	100%	USA	US dollar
ImmunoPrecise Netherlands B.V.	100%	Netherlands	Euro
ImmunoPrecise Antibodies (Europe) B.V. ("IPA Europe")	100%	Netherlands	Euro
BioStrand B.V.	100%	Belgium	Euro
Idea Family B.V.	100%	Belgium	Euro
BioKey B.V.	100%	Belgium	Euro
BioClue B.V.	100%	Belgium	Euro

Control is achieved when the Company is exposed, or has rights, to variable returns from its involvement with an entity and has the ability to affect those returns through its power over the investee. Subsidiaries are fully consolidated from the date on which control is obtained and continue to be consolidated until the date that such control ceases. Intercompany balances, transactions and unrealized intercompany gains and losses are eliminated upon consolidation.

(d)

Functional and presentation currency

The functional currency of a company is the currency of the primary economic environment in which the company operates. The presentation currency for a company is the currency in which the company chooses to present its financial statements. The presentation and functional currency of the Company is the Canadian dollar.

Foreign currency translation

Entities whose functional currencies differ from the presentation currency are translated into Canadian dollars as follows: assets and liabilities – at the closing rate as at the reporting date, and income and expenses – at the average rate of the period. All resulting changes are recognized in other comprehensive income as cumulative translation differences.

Foreign currency transactions

Transactions in foreign currencies are translated into the functional currency at exchange rates at the date of the transactions. Foreign currency monetary assets and liabilities are translated at the functional currency exchange rate at the reporting date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using exchange rates as at the dates

of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. All gains and losses on translation of these foreign currency transactions are included in profit or loss.

When the Company disposes of its entire interest in a foreign operation, or loses control, joint control, or significant influence over a foreign operation, the foreign currency gains or losses accumulated in other comprehensive income related to the foreign operation are recognized in profit or loss. If an entity disposes of part of an interest in a foreign operation which remains a subsidiary, a proportionate amount of foreign currency gains or losses accumulated in other comprehensive income related to the subsidiary are reallocated between controlling and non-controlling interests.

(e)

Correction of immaterial error

We corrected an immaterial error related to fiscal years 2023 and 2024. The adjustment related to the correction of the recognition of a deferred tax asset and resulting offset with the deferred income tax liability for fiscal years 2023 and 2024. The error had the impact of overstating the deferred tax liability and overstating the net loss in fiscal 2023 and 2024. Management evaluated the effect of the adjustment on previously issued interim and annual consolidated financial statements in accordance with IFRS guidelines and concluded that it was immaterial to the interim and annual periods. As a result, in accordance with IFRS, we corrected the comparative periods in our Consolidated Statements of Financial Position and Comprehensive Loss as of April 30, 2025.

The effects of this adjustment on the comparative periods in our Consolidated Statements of Financial Position and Comprehensive Loss as of April 30, 2025 are as follows:


	Previously reported			Adjustments			As adjusted
Balance sheet items: (in thousands)	4/30/2024			4/30/2024			4/30/2024
Deferred income tax liability		5,825			(1,757	)		4,068
Total liabilities		26,067			(1,757	)		24,310
Accumulated deficit		(100,265	)		1,705			(98,560	)
Accumulated other comprehensive income		2,025			52			2,077
Total shareholders' equity		33,921			1,757			35,678


	Previously reported (year)			Adjustments			As adjusted
Income statement items: (in thousands)	4/30/2024			4/30/2024			4/30/2024
Income taxes		1,526			1,062			2,588
Net loss for the period		(27,177	)		1,062			(26,115	)
Exchange difference on translating foreign operations		(600	)		(13	)		(613	)
Comprehensive loss for the period		(27,777	)		1,049			(26,728	)
Basic and diluted loss per share*		(1.06	)		0.04			(1.02	)

* Because of the net loss, basic and diluted loss per share are the same given potential dilutive common shares are excluded from the computation as their effect would be anti-dilutive.

Significant Accounting Policies

12 Months Ended

Apr. 30, 2025

Disclosure Of Significant Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

3.

SIGNIFICANT ACCOUNTING POLICIES

Business combinations

Acquisitions of businesses are accounted for using the acquisition model. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Company,

liabilities incurred by the Company to the former owners of the acquiree and the equity interests issued by the Company in exchange for control of the acquiree. Acquisition-related costs are recognized in profit or loss as incurred.

At the acquisition date, the identifiable assets acquired, and the liabilities assumed are recognized at their fair value at the acquisition date. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain.

When the consideration transferred by the Company in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date.

Revenue recognition

The Company recognizes revenue from sale of antibodies and service agreements.

Sale of antibodies:

Revenue from sale of antibodies is recognized when the terms of a contract with a customer have been satisfied. This occurs when:

•

The control over the product has been transferred to the customer; and

•

The product is received by the customer or transfer of title to the customer occurs upon shipment.

Following delivery, the customer bears the risks of obsolescence and loss in relation to the goods. Revenue is recognized based on the price specified in the contract, net of estimated sales discounts and returns.

Contract revenue:

Revenues from contracted services are generally recognized as the performance obligations are satisfied over time, and the related expenditures are incurred pursuant to the terms of the agreement. Contract revenue is recognized over time based on the input method, specifically the hours incurred. Revenue is recognized as the work progresses, in proportion to the amount of labor hours expended on the contract. For contracts with no enforceable right to payment when the contract is incomplete, contract revenue is recognized when the customers are satisfied with the service at the end of the contract and control of the product has been transferred to the customer. We apply the practical expedient outlined in IFRS 15.121, which allows us not to disclose information about remaining performance obligations as our contract duration is less than one year and we have the right to invoice for performance to date. The following table summarizes revenue recognized over time versus at a point in time for the years ended April 30:


			Years ended April 30,
Timing of recognition (in thousands)	2025 $		2024 $		2023 $
Point-in-time		22,175		22,235		18,677
Over time		2,345		2,283		1,988
		24,520		24,518		20,665

Unbilled revenue and deferred revenue:

Amounts recognized as revenue in excess of billings are classified as unbilled revenue. Amounts received in advance of the performance of services are classified as deferred revenue.

Cost of sales:

Cost of sales includes materials, direct labor, and allocation of overhead including depreciation of lab equipment.

Cash and Cash Equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value and are readily convertible to known amounts of cash.

Recognition and Measurement

Cash and cash equivalents are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any impairment losses. Due to the short-term nature of these instruments, the carrying amount is considered to be the same as their fair value.

Restricted Cash

Restricted cash is classified separately from cash and cash equivalents. It represents amounts that are held in trust or escrow accounts or that are otherwise restricted as to withdrawal or usage. The nature and purpose of restrictions on cash balances are disclosed in the notes to the financial statements. Restricted cash is not considered a component of cash and cash equivalents for the purpose of the statement of cash flows.

Financial instruments

Recognition and Classification

The Company recognizes a financial asset or financial liability on the statement of financial position when it becomes party to the contractual provisions of the financial instrument.

The Company classifies its financial instruments in the following categories: at fair value through profit and loss (“FVTPL”), at fair value through other comprehensive income (loss) (“FVTOCI”) or at amortized cost. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics.

Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL.


		Classification and measurement IFRS 9
Cash		Amortized cost
Amounts receivable		Amortized cost
Investment		FVTPL
Accounts payable and accrued liabilities		Amortized cost
Convertible Debentures		Amortized cost
Deferred acquisition payments		Amortized cost

Measurement

Financial assets and liabilities at FVTPL:

Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in profit or loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in profit or loss in the period in which they arise. Where management has opted to recognize a financial

liability at FVTPL, any changes associated with the Company’s own credit risk will be recognized in other comprehensive income (loss).

Financial assets at FVTOCI:

Elected investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains and losses recognized in other comprehensive income (loss).

Financial assets and liabilities at amortized cost:

Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment.

Impairment of financial assets at amortized cost:

The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses.

Irrespective of the preceding policy, the Company always measures the loss allowance of trade receivables at an amount equal to the lifetime expected credit losses.

The Company shall recognize in profit or loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.

Derecognition

Financial assets:

The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally recognized in profit or loss. However, gains and losses on derecognition of financial assets classified as FVTOCI remain within accumulated other comprehensive income (loss).

Financial liabilities:

The Company derecognizes financial liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets, is recognized in profit or loss.

Government assistance

The Company periodically applies for financial assistance under available government incentive programs. Government assistance relating to capital expenditures is reflected as a reduction of the cost of such assets. Government assistance relating to research and development expenditures is recorded as a reduction of current year's expenses when the related expenditures are incurred.

Government grant

The Company periodically applies for financial assistance under available government incentive programs. The grant is recognized when there is reasonable assurance that the Company will comply with the conditions attached to them and the grants will be received. All funds received as part of the grant or subsidies are reflected in grant and subsidy income.

Inventory

Inventory consists of supplies, parts and antibodies and is valued at the lower of weighted average cost and net realizable value. Costs include acquisition, freight and other directly attributable costs.

Equipment and leasehold improvements

Equipment and leasehold improvements are stated at cost, less accumulated depreciation and impairment losses. Depreciation is provided using the straight-line method over the following terms:


Asset	Basis	Term
Lab equipment	Straight line	5 years
Furniture and equipment	Straight line	5 years
Computer hardware	Straight line	2 years
Computer software	Straight line	1 year
Building	Straight line	Remaining term of the property lease
Automobile	Straight line	Remaining term of the automobile lease
Leasehold improvements	Straight line	Shorter of useful life and remaining term of the lease plus the first renewal option

The Company evaluates equipment and leasehold improvements for indications of impairment at the end of each reporting period. Impairment losses are immediately recognized in profit and loss.

Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalized development costs, are not capitalized and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.

The useful lives of intangible assets are assessed as either finite or indefinite.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. Amortization for intangible assets with finite lives is provided over the following terms:


Asset	Basis	Term
Internally generated development costs	Straight line	5 years
Intellectual property	Straight line	10 - 15 years
Proprietary processes	Straight line	5 years
Certifications	Straight line	1 year
Customer list	Straight line	2 years

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit ("CGU") level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis.

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized.

During the fiscal year ended April 30, 2024, the Company recorded an impairment of intangible assets charge of $3.9 million related to the BioStrand CGU. See Note 9 for more information.

During the fiscal year 2025, the Company recorded an impairment loss of $21.2 million for the BioStrand CGU. The loss was recorded as a reduction in the intangible assets in BioStrand. The primary factor for the impairment included a delay in expected cash flows of BioStrand due to the strategic plans and expected use of BioStrand's assets. The increased discount rate relates to additional forecast risk for the BioStrand CGU, as compared to fiscal year ended April 30, 2024.

Goodwill

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill is not subject to amortization and an impairment test is performed annually or as events occur that could indicate impairment.

Goodwill is reported at cost less any impairment. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (“CGU”). To test for impairment, goodwill is allocated to each of the Company’s CGUs, groups of CGUs, or an operating segment expected to benefit from the acquisition. Goodwill is tested by combining the carrying amounts of equipment and leasehold improvements, intangible assets and goodwill and comparing this to the recoverable amount. Fair value less costs of disposal is price to be received in an orderly transaction between market participants. Value in use is assessed using the present value of the expected future cash flows. Any excess of the carrying amount over the recoverable amount is recorded as impairment. Impairment charges, which are not tax affected, are recognized in profit or loss and are not reversed.

During the fiscal year ended April 30, 2023, the Company recorded an impairment charge of $2.5 million related to the BioStrand CGU. During the year ended April 30, 2024, the Company recorded an impairment of goodwill charge of $11.2 million related to the BioStrand CGU. No impairment was recorded against goodwill for BioStrand for the year ended April 30, 2025. See Note 9 for more information.

Impairment of long-lived assets

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparison of their carrying amount to the recoverable amount. The recoverable amount is the higher of the fair value less costs of disposal or the value in use. Value in use is determined by the present value of the future cash flows from the asset. If the recoverable amount is less than the carrying amount, then there is impairment. Where an impairment loss exists, the portion of the carrying amount exceeding the recoverable amount is recorded as an expense immediately. Assets that have been impaired in prior periods are tested for possible reversal of impairment whenever events or changes in circumstance indicate that the impairment has reversed. If the impairment has reversed, the carrying amount of the asset is increased to its recoverable amount but not beyond the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior periods. The reversal is recognized in profit or loss immediately.

During the year ended April 30, 2024, the Company recorded an impairment of intangible assets charge of $3.9 million and an impairment of goodwill charge of $11.2 million related to the BioStrand CGU. The impairment losses were determined based on fair value less costs of disposal, considering discount rates, growth rates, and other relevant factors. See Note 8 and Note 9 for more information.

Income taxes

Income taxes are recognized in the statement of comprehensive loss, except where they relate to items recognized directly in equity, in which case the related taxes are recognized in equity.

Deferred tax assets and liabilities are recognized based on the difference between the tax and accounting values of assets and liabilities and are calculated using enacted or substantively enacted tax rates for the periods in which the differences are expected to reverse. The effect of tax rate changes is recognized in profit or loss or equity, as applicable, in the period of substantive enactment. Current taxes receivable or payable are estimated on taxable income for the current year at the statutory tax rates enacted or substantively enacted.

Deferred tax assets are recognized only to the extent that it is probable that future taxable profits of the relevant entity or group of entities, in a particular jurisdiction, will be available against which the assets can be utilized. As an exception, deferred tax assets and liabilities are not recognized if the temporary differences arise from the initial recognition of goodwill or an asset or liability in a transaction (other than in a business combination) that affects neither accounting profit nor taxable profit.

Investment tax credits (“ITCs”) are accounted for as a reduction in the cost of the expense when there is reasonable assurance that such credits will be realized. These ITCs are used to reduce current income taxes payable.

Leases

At inception of a contract, the Company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The liabilities for leases of right-of-use assets are recognized at the lease commencement date at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the Company’s incremental borrowing rate. At the commencement date, a right-of-use asset is measured at cost, which is comprised of the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any decommissioning and restoration costs, less any lease incentives received.

Each lease payment is allocated between repayment of the lease principal and interest. Interest on the lease liability in each period during the lease term is allocated to produce a constant periodic rate of interest on the remaining balance of the lease liability. Except where the costs are included in the carrying amount of another asset, the Company recognizes in profit or loss (a) the interest on a lease liability and (b) variable lease payments not included in the measurement of a lease liability in the period in which the event or condition that triggers those payments occurs. The Company subsequently measures the right-of-use asset at cost less any accumulated depreciation and any accumulated impairment losses; and adjusted for any remeasurement of the lease liability. Right-of-use assets are depreciated over the shorter of the asset’s useful life or the lease term, except where the lease contains a bargain purchase option a right-of-use asset is depreciated over the asset’s useful life.

Research and development

Research and development cost is charged to the income statement in the period in which it is incurred. Property, plant and equipment used for research and development is capitalized and depreciated in accordance with the equipment and leasehold improvements policy.

Share capital

Equity instruments are contracts that give a residual interest in the net assets of the Company. The Company's common shares are classified as equity instruments.

Proceeds from unit placements are allocated between common shares and warrants issued based on the residual value method, with the common shares being valued first.

Share issuance costs

Costs directly identifiable with the raising of share capital financing are charged against share capital. Share issuance costs incurred in advance of share subscriptions are recorded as deferred assets. Share issuance costs related to uncompleted share subscriptions are charged to operations.

Share-based payments

Where equity-settled share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period.

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to non-employees, they are recorded at the fair value of the goods or services received in profit or loss, unless they are related to the issuance of shares. Amounts related to the issuance of shares are recorded as a reduction of share capital.

When the value of goods or services received in exchange for the share-based payment cannot be reliably estimated, the fair value is measured by use of a valuation model. The expected life used in the model is adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioral considerations.

All equity-settled share-based payments are reflected in contributed surplus, until exercised. Upon exercise, shares are issued from treasury and the amount reflected in contributed surplus is credited to share capital, adjusted for any consideration paid.

Where a grant of options is cancelled or settled during the vesting period, excluding forfeitures when vesting conditions are not satisfied, the Company immediately accounts for the cancellation as an acceleration of vesting and recognizes the amount that otherwise would have been recognized for services received over the remainder of the vesting period. Any payment made to the employee on the cancellation is accounted for as the repurchase of an equity interest except to the extent the payment exceeds the fair value of the equity instrument granted, measured at the repurchase date. Any such excess is recognized as an expense.

Earnings (loss) per share

Basic earnings (loss) per share is calculated by dividing the net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Dilutive earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. In periods where a net loss is incurred, potentially dilutive common shares are excluded from the loss per share calculation as the effect would be anti-dilutive and basic and diluted loss per common share is the same. In a profit year, under the treasury stock method, the weighted average number of common shares outstanding used for the calculation of diluted earnings per share assumes that the proceeds to be received on the exercise of dilutive stock options and warrants are used to repurchase common shares at the average price during the year.

Adoption of New Accounting Standards

12 Months Ended

Apr. 30, 2025

Disclosure of initial application of standards or interpretations [abstract]

Adoption of New Accounting Standards

4.

ADOPTION OF NEW ACCOUNTING STANDARDS

Standards adopted

Classification of Liabilities as Current or Non-Current (Amendments to IAS 1)

The amendments to IAS 1 provide a more general approach to the classification of liabilities based on the contractual arrangements in place at the reporting date.

These amendments are effective for reporting periods beginning on or after January 1, 2024, which is our fiscal year ending April 30, 2025. We adopted these amendments in our first fiscal quarter ending July 31, 2024 with no impact noted to our classification of liabilities.

Standards not yet adopted

IFRS 18

The new requirements introduced in IFRS 18 will help to achieve comparability of the financial performance of similar entities, especially related to how ‘operating profit or loss’ is defined. The new disclosures required for some management-defined performance measures will also enhance transparency. The Company does not expect IFRS 18 to have a material impact on the Company's financial statements.

These amendments are effective for reporting periods beginning on or after January 1, 2027.

Critical Accounting Estimates And Judgements

12 Months Ended

Apr. 30, 2025

Critical Accounting Estimates And Judgments [Abstract]

CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

5.

CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

The preparation of the consolidated financial statements in conformity with IFRS required estimates and judgments that affect the amounts reported in the financial statements. Actual results could differ from these estimates and judgments. Estimates are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimate is revised.

Judgments

Business combinations

Acquisitions of a business are accounted for as a business combination if the assets acquired and liabilities assumed constitute a business in accordance with IFRS 3. Judgment is required to determine if the transaction meets the definition of a business combination.

During the year ended April 30, 2022, the Company acquired all the issued and outstanding shares of Idea Family BV, BioStrand BV, BioKey BV, and BioClue BV (collectively “BioStrand”), as detailed in Note 6. Management concluded that BioStrand met the definition of a business and accounted for the transaction as a business combination.

The acquisition of BioStrand includes potential future earn-out payments dependent on the future profitability of the business. Judgment was required to determine whether the payments constitute an exchange for the business or are transactions separate from the business combination. The potential future earn-out payments to the selling shareholders of BioStrand will be accounted for separate from the business combination (see Note 18).

Impairments

For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows called a cash-generating unit (“CGU"). Management applies judgment to determine CGUs. Each asset or CGU is evaluated every reporting period to determine whether there are any indicators of impairment. If any such indicators exist, which is often judgment based, a formal estimate of recoverable amount is performed and an impairment charge is recognized to the extent that the carrying amount exceeds the recoverable amount.

The Company performs a goodwill impairment test annually and when circumstances indicate that the carrying value may not be recoverable. For the purposes of impairment testing, goodwill acquired through business combinations was allocated to three different CGUs, the Company’s Oss and Utrecht locations at IPA Europe, and BioStrand. The goodwill allocated to Oss and Utrecht was $3.3 million and $4.9 million, respectively, as of April 30, 2025. The goodwill allocated to Oss and Utrecht and BioStrand was $3.1 million, $4.6 million, respectively, as of April 30, 2024. The goodwill allocated to BioStrand was fully impaired as of April 30, 2024 and April 30, 2025 (see Note 9).

Estimates

Business combinations

At acquisition date, the identifiable assets acquired and liabilities assumed in a business combination are recognized at their fair value. Goodwill is measured as the excess of the consideration transferred over the net of the acquisition-date fair values of the identifiable assets acquired and liabilities assumed. Estimates are required to determine the fair value of assets acquired and liabilities assumed, and estimated fair values may vary from prices that would be achieved in an arm’s length transaction at the acquisition date (see Note 6).

Impairment of long-lived assets

The recoverable amount of an asset or CGU of assets is measured at the higher of fair value less costs of disposal or value in use. These determinations and their individual assumptions require that management make a decision based on the best available information at each reporting period. The estimates and assumptions are subject to risk and uncertainty; hence, there is the possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances, some or all of the carrying value of the assets may be further impaired or the impairment charge reversed with the impact recorded in profit or loss.

The recoverable amount of each CGU was based on value in use, determined by discounting the future cash flows to be generated from the continuing use of the CGU. The cash flows were projected over a five-year period for the Company's Utrecht and Oss locations, and a seven-year period for BioStrand. The projections are based on past experience and actual operating results.

The Company performed its annual goodwill impairment test for April 2025 and no CGUs were identified as requiring impairment. The values assigned to the key assumptions represented management’s assessment of future trends in the industry and were based on historical data from both internal and external sources. See Note 9 for details on the weighted average cost of capital used in the assessments of the three CGUs.

Useful life of intangible assets

Intangible assets are amortized based on estimated useful life less their estimated residual value. Significant assumptions are involved in the determination of useful life and residual values and no assurance can be given that the actual useful lives and residual values will not differ significantly from current assumptions. Actual useful life and residual values may vary depending on a number of factors including internal technical evaluation, attributes of the assets and experience with similar assets. Changes to these estimates may affect the carrying value of assets, net income (loss) and comprehensive income (loss) in future periods (see Note 8).

Share-based payments

Where equity-settled share options are awarded to employees, the fair value of the options at the date of grant is charged to profit and loss over the vesting period. The Company makes assumptions to determine the estimated forfeiture rate of the share options, and these estimates are reviewed at the end of each reporting period. Changes to these estimates may affect contributed surplus and net income (loss) (see Note 12).

Acquisition of BioStrand

12 Months Ended

Apr. 30, 2025

BioStrand B.V.

Disclosure Of Business Combinations [Line Items]

ACQUISITION OF BIOSTRAND

6.

ACQUISITION OF BIOSTRAND

On April 13, 2022, the Company acquired all the issued and outstanding shares of BioStrand B.V., BioKey B.V., BioClue B.V. and Idea Family B.V. (collectively “BioStrand”) on terms as follows:

€2.7 million (CAD $3.7 million) was paid in cash on closing;

4,077,774 common shares of the Company were issued on closing;

Deferred cash payment of €0.5 million (CAD $0.7 million) to be paid 90 days subsequent to closing; and

Deferred cash payment of €0.5 million (CAD $0.6 million) to be paid over 3 years on the anniversary of the closing date.

BioStrand focuses on technology in the field of bioinformatics and biotechnology related to the identification of characteristic biological sequences in proteins, RNA and DNA, and their different information layers, the development of a knowledge base containing these characteristic biological sequences and information layers, and the use of this database to process biological sequences and compare processed biological sequences. The acquisition provides the Company with advanced omics capabilities to enhance its antibody discovery processes and offer multi-omics data analysis to its clients.

The transaction was accounted for as a business combination, as the operations of BioStrand meet the definition of a business. As the transaction was accounted for as a business combination, legal and consulting costs of $0.7 million and $0.1 million, respectively, were expensed during the year ended April 30, 2022. The goodwill resulting from the allocation of the purchase price to the total fair value of net assets will represent the sales growth potential and assembled workforce of BioStrand.

During the three months ended July 31, 2022, the Company recorded the right-of-use assets and lease liabilities in connection with building and vehicle leases at BioStrand. During the three months ended October 31, 2022, the Company adjusted goodwill upon the finalization of the deferred cash payment paid 90 days subsequent to closing. Both adjustments occurred during the measurement period and were applied retrospectively. The Company has allocated the purchase price as follows:


(in thousands)	$
Cash		4,985
Common shares of the Company		29,126
Fair value of consideration		34,111

Cash		36
Amounts receivable		80
Unbilled revenue		8
Equipment and right-of-use assets		247
Intellectual property (not deductible for tax purposes)		28,459
Proprietary processes (not deductible for tax purposes)		391
Goodwill (not deductible for tax purposes)		12,658
Accounts payable and accrued liabilities assumed		(342	)
Deferred revenue		9
Leases		(223	)
Deferred income tax liability		(7,212	)
		34,111

The intellectual property assets are primarily comprised of acquired technology assets that are expected to have a useful life of 15 years.

The fair value of the 4,077,774 common shares issued ($29.1 million) was determined based on the Canadian dollar equivalent of the consideration required of €21.3 million pursuant to the share purchase agreement using the closing stock price at` the date of the acquisition. The common shares are subject to an escrow agreement and will be released to the vendors on the following schedule: 15% one year after closing, 20% two years after closing, and 65% three years after closing.

The deferred cash payments of €1.0 million was fair valued on the date of acquisition using a discounted cash flow model. The changes in the value of the subsequent payments during the years ended April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	$
Balance, April 30, 2023		717
Foreign exchange		(11	)
Accretion		19
Working capital adjustment		(294	)
Deferred acquisition payment		(146	)
Balance, April 30, 2024		285
Foreign exchange		19
Accretion		10
Balance, April 30, 2025		314
Less: Current portion		(314	)
Non-current portion		—

The share purchase agreement related to the acquisition of BioStrand includes contingent earnout payments (see Note 18).

Property and Equipment

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about property, plant and equipment [abstract]

PROPERTY AND EQUIPMENT

7.

PROPERTY AND EQUIPMENT

The table below includes both property and equipment and right-of-use assets.


(in thousands)	Computer Hardware $			Furniture & Equipment $			Computer Software $			Building $			Automobile $			Leasehold Improvements $			Lab Equipment $			WIP - Leasehold Improvements $		Total $
Cost:
Balance, April 30, 2023		288			53			50			9,085			167			626			6,473			—		16,742
Additions		56			—			—			7,826			1			27			1,316			31		9,257
Disposals		(111	)		(31	)		(49	)		(1,634	)		—			(344	)		(2,554	)		—		(4,723	)
Foreign exchange		(4	)		(1	)		(1	)		(133	)		(3	)		(2	)		(92	)		—		(236	)
Balance, April 30, 2024		229			21			—			15,144			165			307			5,143			31		21,040
Additions		12			22			—			210			207			20			812			79		1,362
Disposals		—			—			—			—			(99	)		—			—			—		(99	)
Foreign exchange		40			2			—			820			18			9			300			—		1,189
Balance, April 30, 2025		281			45			—			16,174			291			336			6,255			110		23,492

Accumulated Depreciation:
Balance, April 30, 2023		157			33			50			1,752			57			388			3,913			—		6,350
Depreciation		101			4			—			1,723			56			58			849			—		2,791
Disposals		(110	)		(31	)		(49	)		(1,606	)		—			(344	)		(2,554	)		—		(4,694	)
Foreign exchange		(2	)		—			(1	)		(38	)		(1	)		—			(61	)		—		(103	)
Balance, April 30, 2024		146			6			—			1,831			112			102			2,147			—		4,344
Depreciation		66			8			—			1,922			67			65			788			—		2,916
Disposals		—			—			—			—			(99	)		—			—			—		(99	)
Foreign exchange		11			—			—			158			7			3			390			—		569
Balance, April 30, 2025		223			14			—			3,911			87			170			3,325			—		7,730

Net Book Value:
April 30, 2024		83			15			—			13,313			53			205			2,996			31		16,696
April 30, 2025		58			31			—			12,263			204			166			2,930			110		15,762

Intangible Assets

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE ASSETS

8.

INTANGIBLE ASSETS

Changes in the value of the intangible assets during the years ended April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	Internally Generated Development Costs $		Intellectual Property $			Proprietary Processes $			Certifications $			Customer List $			Total $
Cost:
Balance, April 30, 2023		33		35,143			8,103			139			198			43,616
Impairments and disposals		—		(3,830	)		(40	)		—			(193	)		(4,063	)
Foreign exchange		—		(595	)		(136	)		(3	)		(5	)		(739	)
Balance, April 30, 2024		33		30,718			7,927			136			—			38,814
Impairments and disposals		—		(21,184	)		(156	)		—			—			(21,340	)
Foreign exchange		—		1,435			552			10			—			1,997
Balance, April 30, 2025		33		10,969			8,323			146			—			19,471

Accumulated Amortization:
Balance, April 30, 2023		14		4,775			7,633			137			132			12,691
Amortization		19		2,666			216			2			65			2,968
Disposals		—		—			—			—			(193	)		(193	)
Foreign exchange		—		(75	)		(127	)		(3	)		(4	)		(209	)
Balance, April 30, 2024		33		7,366			7,722			136			—			15,257
Amortization		—		1,895			53			—			—			1,948
Foreign exchange		—		641			548			10			—			1,199
Balance, April 30, 2025		33		9,902			8,323			146			—			18,404

Net Book Value:
April 30, 2024		—		23,352			205			—			—			23,557
April 30, 2025		—		1,067			—			—			—			1,067

Goodwill

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about intangible assets [abstract]

Goodwill

9.

GOODWILL

The goodwill was acquired as a result of the acquisitions of U-Protein, IPA Europe and BioStrand. The changes in the value of goodwill during the fiscal years ended April 30, 2025and 2024 are as follows:


(in thousands)	$
Balance, April 30, 2023		19,171
Foreign exchange		(323	)
Asset impairment		11,161
Balance, April 30, 2024		7,687
Foreign exchange		543
Balance, April 30, 2025		8,230

Impairment testing

For annual impairment testing, goodwill is allocated to the following cash-generating units ("CGU"):


(in thousands)	April 30, 2025 $		April 30, 2024 $
Oss		3,272		3,056
Utrecht		4,958		4,631
		8,230		7,687

The recoverable amount of each CGU was based on value-in-use calculations and determined using a five-year forecast for Oss and Utrecht, followed by a terminal growth rate determined by management. The present value of the forecasted cash flows of each CGU is determined by applying a discount rate reflecting a current market assessment of the time value of money and risks specific to the CGU. The recoverable amount, growth rate assumptions and discount rates for each CGU as of April 30, 2025, 2024 are as follows:


	Recoverable amount				Terminal growth rates						Discount rates
(in thousands)	2025 $		2024 $		2025 $			2024 $			2025 $			2024 $
Oss		7,039		6,723		2.0	%		2.5	%		22.0	%		22.0	%
Utrecht		11,422		12,737		2.5	%		2.5	%		19.0	%		19.0	%
BioStrand		—		14,611		—			2.5	%		—			45.0	%

The terminal growth rates consider the average GDP growth rate of the Netherlands and Belgium. The discount rates reflect management’s assessment of market and specific risk of the CGU. Both the Oss and Utrecht CGUs operate in the same region and are included in the same operating segment of the Company. The cash flow forecasts include a key management assumption that

future profit margins will remain stable and is based on previous performance of the CGU. The assumption for future profit margins is based on management’s review of the prior three years of performance of the CGU.

During the year ended April 30, 2023, the Company recorded an impairment loss of $2.5 million for the BioStrand CGU. The loss was recorded as a reduction in goodwill. The primary factor for the impairment included a rise in the discount rate as compared to the prior year, along with a delay in expected cash flows in the forecast. The increased discount rate relates to increases in the forecast risk for the BioStrand CGU, increased economic risk, and increased global interest rates as compared to the prior year.

During the year ended April 30, 2024, the Company recorded an impairment loss of $11.2 million on impairment of goodwill. The loss was recorded as a reduction in goodwill and the intangible assets. The primary factor for the impairment included a rise in the discount rate as compared to the prior year, along with a delay in expected cash flows in the forecast. The increased discount rate relates to increases in the forecast risk for the BioStrand CGU, increased economic risk, and increased global interest rates as compared to the prior year.

Convertible Debentures

12 Months Ended

Apr. 30, 2025

Convertible Debentures [Abstract]

CONVERTIBLE DEBENTURES

10.

CONVERTIBLE DEBENTURES

On July 16, 2024 YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP (“Yorkville”), entered into a securities purchase agreement (the "Securities Purchase Agreement") under which the Company agreed to sell and issue to Yorkville U.S.$3.0 million aggregate principal amount of convertible debentures (the “Convertible Debentures”) in two tranches and at a purchase price of 95% of the aggregate principal amount.

The Convertible Debentures were convertible into Common Shares. The sale and issue of the first tranche consisted of U.S.$2.0 million principal amount of Convertible Debentures and was completed on July 16, 2024 with a maturity date of July 16, 2025. The sale and issue of the second tranche consisted of U.S.$1.0 million principal amount of Convertible Debentures and was completed on August 16, 2024, with a maturity date of July 16, 2025.

In connection with the offering, the Company and Yorkville entered into a customary registration rights agreement pursuant to which the Company agreed to provide certain registration rights to Yorkville under the U.S. Securities Act of 1933.

During the year ended April 30, 2025, the Company completed the complete conversions of both tranches.

Leases

12 Months Ended

Apr. 30, 2025

Presentation of leases for lessee [abstract]

LEASES

11.

LEASES

The Company has leases for lab and office space, automobiles and one item of lab equipment. Each lease is reflected in the consolidated statement of financial position as a right-of-use asset and a lease liability. The Company classifies right-of-use assets in a consistent manner to its property and equipment. The following is a schedule of the Company’s future minimum lease payments related to the equipment and automobiles under finance lease and the office lease obligation:


(in thousands)	$
2026		2,695
2027		2,692
2028		2,685
2029		2,366
2030		1,682
More than 5 years		4,514
Total minimum lease payments		16,634
Less: imputed interest		(3,231	)
Total present value of minimum lease payments		13,403
Less: Current portion		(1,850	)
Non-current portion		11,553

Total cash outflow for leases during the year ended April 30, 2025 was $1.6 million (2024 - $1.3 and 2023 - $1.3 million).

The nature of the Company’s leases by type of right-of-use asset as of April 30, 2025 is as follows:


Right-of-use asset type	No. of right-of- use assets leased		Range of remaining term	Average remaining lease term	No. of leases with extension options		No. of leases with options to purchase		No. of leases with variable payments linked to an index		No. of leases with termination options
Lab and office facilities		3	3.7 - 8.7 years	6.6 years		1		—		3		3
Automobiles		4	1.7 - 4.5 years	3.7 years		—		—		4		4
Lab equipment		1	4.8 years	4.8 years		—		1		1		1

Right-of-use assets

The Company reviews long-lived assets with finite useful lives for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable.

During the year ended April 30, 2023, the Company recorded a right-of-use asset of $7.4 million upon commencement of a new lease at the Utrecht, the Netherlands location. The lease includes an initial term of five years, and a renewal option for an additional five years. The Company has determined that it is reasonably certain to exercise the renewal option.

During the year ended April 30, 2024, the Company recorded a right-of-use asset of $3.7 million upon commencement of a new lease at the Oss, the Netherlands location. The lease includes an initial term of five years, and a renewal option. The Company has determined that it is reasonably certain to exercise the renewal option.

During the year ended April 30, 2024, the Company recorded a right-of-use asset of $3.5 million upon commencement of a new lease at the Victoria, the Canadian location. The lease includes an initial term of ten years.

During the year ended April 30, 2025, the Company recorded a right-of-use asset of $70 thousand upon commencement of a new car lease at the BioStrand, the Belgium location. The lease includes an initial term of five years.

During the year ended April 30, 2025, the Company recorded a right-of-use asset of $67 thousand upon commencement of a new car lease at the BioStrand, the Belgium location. The lease includes an initial term of five years.

During the year ended April 30, 2025, the Company recorded a right-of-use asset of $0.6 million upon commencement of a new lab equipment lease at the Victoria, the Canadian location. The lease includes an initial term of five years.

During the year ended April 30, 2025, the Company recorded a right-of-use asset of $0.2 million upon an adjustment to the lease at the Utrecht, the Netherlands location.

The changes in the value of right-of-use assets during the years ended April 30, 2025 and 2024 are as follows:


(in thousands)	Building $			Automobile $			Lab Equipment $		Total $
Cost:
Balance, April 30, 2023		9,085			167			—		9,252
Additions		7,826			1			—		7,827
Disposals		(1,634	)		—			—		(1,634	)
Foreign exchange		(133	)		(3	)		—		(136	)
Balance, April 30, 2024		15,144			165			—		15,309
Additions		210			207			578		995
Disposals		—			(99	)		—		(99	)
Foreign exchange		820			18			—		838
Balance, April 30, 2025		16,174			291			578		17,043

Accumulated Depreciation:
Balance, April 30, 2023		1,752			57			—		1,809
Depreciation		1,723			56			—		1,779
Disposals		(1,606	)		—			—		(1,606	)
Foreign exchange		(38	)		(1	)		—		(39	)
Balance, April 30, 2024		1,831			112			—		1,943
Depreciation		1,922			67			13		2,002
Disposals		—			(99	)		—		(99	)
Foreign exchange		158			7			—		165
Balance, April 30, 2025		3,911			87			13		4,011

Net Book Value:
April 30, 2024		13,313			53			—		13,366
April 30, 2025		12,263			204			565		13,032

Lease payments not recognized as a liability

The Company has elected not to recognize a lease liability for leases with an expected term of 12 months or less. Additionally, certain variable lease payments are not permitted to be recognized as lease liabilities and are recognized in profit and loss as incurred. The expense relating to payments not included in the measurement of the lease liability during the years ended April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	2025 $		2024 $		2023 $
Leases of low value assets		21		7		40
Variable lease payments		567		467		215
		588		474		255

Share Capital

12 Months Ended

Apr. 30, 2025

Disclosure of classes of share capital [abstract]

SHARE CAPITAL

12.

SHARE CAPITAL

a)

Authorized:

Unlimited common shares without par value.

b)

Share capital transactions:

2023 Transactions

During the year ended April 30, 2023, the Company issued 263,537 common shares pursuant to the exercise of stock options for total gross proceeds of $0.7 million. A value of $0.8 million was transferred from contributed surplus to share capital as a result. The weighted average share price at the dates the stock options were exercised was U.S.$4.50.

During the year ended April 30, 2023, the Company issued 309,877 common shares with a value of $1.3 million pursuant to the conversion of $1.3 million principal balance of convertible debentures.

2024 Transactions

During the year ended April 30, 2024, the Company issued 1,265,000 common shares in an underwritten public offering, including 165,000 common shares issued pursuant to the full exercise by the underwriter of its over-allotment option. The public offering price for each common share, before the underwriter's discount and commissions, was U.S.$1.00.

During the year ended April 30, 2024, the Company established an at-the-market equity offering facility ("ATM Facility") with Clear Street LLC, replacing its previous ATM Facility with Jefferies LLC, which was terminated on February 1, 2024. An Open Market Sales Agreement ("ATM Agreement") was entered into with Clear Street LLC, as sole sales agent ("Agent") on February 23, 2024. The Company is entitled, at its discretion and from time-to-time during the term of the ATM Agreement, to sell, through the Agent common shares of the Company. On February 23, 2024, in connection with the ATM facility, the Company filed a prospectus supplement permitting the sales of common shares having an aggregate gross sales price of up to US$60.0 million. Sales of the common shares will be made in transactions that are deemed to be "at-the-market distributions" as defined in Rule 415(a)(4) of the United Securities Act of 1933, as amended, including, without limitation, sales made directly on Nasdaq or any other existing trading market for the common shares in the United States. Common shares will only be sold on the facilities of an exchange or market outside Canada to purchasers who the Company has no reason to believe are resident in Canada and, in all others cases, to purchasers who are not located or resident in Canada. The Company will determine, at its sole discretion, the date, minimum price and maximum number of common shares to be sold under the ATM Facility. The common shares will be distributed from time to time in negotiated transactions, at market prices prevailing at the time of sale, at prices relating to such prevailing market prices, and/or in any other manner permitted by applicable law. As such, the prices may vary between purchasers over time. The Company is not required to sell any common shares at any time during the term of the ATM Facility. In fiscal 2024, 629,240 common shares were sold under the ATM with proceeds net of commissions of $1.8 million.

2025 Transaction

During the year ended April 30, 2025, the Company issued 13,315,850 Common Shares under the ATM Facility with proceeds net of commissions of $12.2 million.

During the year ended April 30, 2025, the Company issued 5,893,768 common shares with a value of U.S.$3.0 million pursuant to the conversion of U.S.$3.0 million principal balance of convertible debentures.

c)

Options

The following table summarizes stock option awards during the years ended April 30, 2025, 2024 and 2023, including the fair value determined using the Black-Scholes option pricing model:


grant date	Stock options granted		Exercisable price/option $		Awarded to	Share price on grant date $	Dividend yield			Expected volatility			Risk-free rate			Expected life	Fair value
May 15, 2022(2)		80,000		5.79	Employees	3.79		0	%		77	%		2.73	%	5.0 years	$0.3 million
February 19, 2023(1)		29,060	4.10(7)		Directors	4.10(7)		0	%		77	%		3.57	%	4.0 years	$0.1 million
February 19, 2023(2)		609,452	4.10(7)		Officers and employees	4.10(7)		0	%		77	%		3.57	%	5.0 years	$2.2 million
January 19, 2024(6)		240,000	1.48(7)		Directors	1.48(7)		0	%		77	%		3.64	%	5.0 years	$0.4 million
January 4, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
January 23, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
March 1, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
March 15, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
April 2, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
May 8, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
May 23, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
June 11, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
August 8, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
November 13, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
January 1, 2024(6)		12,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$18 thousand
February 1, 2024(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
February 19, 2024(6)		12,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$18 thousand
February 20, 2024(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
August 3, 2024(6)		799,767	0.86(7)		Officers and employees	0.86(7)		0	%		77	%		3.68	%	10 years	$0.7 million

(1)

Vesting conditions are as follows: one-quarter 3 months after grant date; one-quarter 6 months after grant date; one-quarter 9 months after grant date; and one-quarter 12 months after grant date.

(2)

Vesting conditions are as follows: one-third 6 months after grant date; one-third 12 months after grant date; and one-third 18 months after grant date.

(3)

Vesting conditions are as follows: one-third one year after grant date; one-third two years after grand date; and one-third three years after grant date.

(4)

Vesting conditions are as follows: one-third 2 months after grant date; one-third 4 months after grant date; and one-third 6 months after grant date.

(5)

Vesting conditions are as follows: one-half 3 months after grant date; one-half 6 months after grant date.

(6)

Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.

(7)

Priced in U.S.$

Expected volatility of options granted is based on the historical volatility of the company from January 1, 2019 to the option grant date.

During the year ended April 30, 2025, the Company has recorded $0.4 million (2024 - $1.5 and 2023 - $1.9 million) of share-based payments expense.

The changes in the stock options for the years ended April 30, 2025, 2024 are as follows:


	Number of options #			Weighted average exercise price $		Weighted average life remaining (years)
Balance, April 30, 2023 (outstanding)		1,884,428			8.03		3.27
Granted		332,000			2.02		—
Expired		(577,335	)		7.15		—
Forfeited		(117,726	)		4.15		—
Balance, April 30, 2024 (outstanding)		1,521,367			7.17		3.47
Granted		799,767			1.22		—
Expired		(159,021	)		3.80		—
Forfeited		(234,188	)		1.10		—
Balance, April 30, 2025 (outstanding)		1,927,925			5.69		4.45
Unvested		(661,194	)		1.30		9.02
Exercisable, April 30, 2025		1,266,731			7.98		2.06

Details of the options outstanding as at April 30, 2025 are as follows:


Expiry Date	Exercise price $		Remaining life (year)		Options outstanding		Unvested		Exercisable
September 1, 2025		8.50		0.34		220,000		—		220,000
January 6, 2026		20.30		0.69		138,000		—		138,000
January 2, 2026		6.89		0.68		5,650		-		5,650
January 7, 2027		7.94		1.69		235,000		—		235,000
January 13, 2027		8.30		1.71		16,000		-		16,000
May 15, 2027		5.79		2.04		64,000		-		64,000
February 19, 2027(2)		5.81		1.81		7,265		-		7,265
February 19, 2028(2)		5.81		2.81		475,452		-		475,452
January 19, 2034(3)		2.10		3.73		95,558		21,111		74,447
January 4, 2033(4)		2.08		7.69		8,000		3,667		4,333
January 23, 2033(4)		2.08		7.74		8,000		3,667		4,333
March 1, 2033(4)		2.08		7.84		8,000		4,000		4,000
April 2, 2033(4)		2.08		7.93		4,000		2,083		1,917
May 8, 2033(4)		2.08		8.03		4,000		2,167		1,833
June 11, 2033(4)		2.08		8.12		8,000		4,500		3,500
August 8, 2033(4)		2.08		8.28		4,000		2,417		1,583
November 13, 2033(4)		2.08		8.55		8,000		5,333		2,667
January 1, 2034(4)		2.08		8.68		12,000		8,500		3,500
February 1, 2034(4)		2.08		8.76		4,000		2,917		1,083
February 19, 2034(4)		2.08		8.81		8,000		5,833		2,167
August 2, 2034(4)		1.22		9.26		595,000		595,000		—
		5.69		4.45		1,927,925		661,194		1,266,731

(1)

Exercise price of U.S.$7.72. The figure in the table above is translated at the April 30, 2025 rate.

(2)

Exercise price of U.S.$4.10. The figure in the table above is translated at the April 30, 2025 rate.

(3)

Exercise price of U.S.$1.48. The figure in the table above is translated at the April 30, 2025 rate.

(4)

Exercise price of U.S.$1.47. The figure in the table above is translated at the April 30, 2025 rate.

d)

Finder’s Warrants

The changes in the finder’s warrants for the years ended April 30, 2025, 2024 are as follows:


	Number of warrants #		Weighted average exercise price $		Weighted average life remaining (years)
Balance, April 30, 2023		130,111		22.77		2.77
Issued		56,650		1.37		4.61
Balance, April 30, 2024		186,761		16.44		2.62
Balance, April 30, 2025		186,761		17.02		1.62

Details of the finder’s warrants outstanding as at April 30, 2025 are as follows:


Expiry Date	Exercise price $		Remaining life (year)		Warrants outstanding
February 3, 2026(1)		23.81		0.76		130,111
December 8, 2028(2)		1.42		3.61		56,650

(1)

Exercise price of U.S.$16.81. The figure in the table above is translated at the April 30, 2025 rate.

(2)

Exercise price of U.S.$1.00. The figure in the table above is translated at the April 30, 2025 rate.

e)

Restricted Stock Units

The following table summarizes the activity related to the Company's RSUs for the year ended April 30, 2025. For purposes of this table, vested RSUs represent the shares for which the service condition had been fulfilled as of April 30, 2025:


	Number of Restricted Stock Units #			Weighted average grant date fair value $
Balance, April 30, 2024		—			—
Granted		46,000			0.42
Balance, April 30, 2025 (outstanding)		46,000			0.42
Unvested		(39,771	)		0.42
Vested and outstanding, April 30, 2025		6,229			0.42

Employee Remuneration

12 Months Ended

Apr. 30, 2025

Disclosure of employee benefits expenses [abstract]

EMPLOYEE REMUNERATION

13.

EMPLOYEE REMUNERATION

Expenses recognized for employee benefits for the years ended April 30, 2025, 2024 and 2023 are detailed below:



(in thousands)	2025 $		2024 $		2023 $
Wages, salaries		10,069		10,733		10,433
Employee benefits		947		938		926
Payroll taxes		772		774		939
Severance		—		60		194
Share-based expense		445		1,535		1,943
		12,233		14,040		14,435

Related Party Transactions

12 Months Ended

Apr. 30, 2025

RELATED PARTY TRANSACTIONS

14.

RELATED PARTY TRANSACTIONS

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company. Key management consists of Dr. Jennifer Bath, President and CEO; Joseph Scheffler, Interim CFO; Kristin Taylor, former CFO; Brad McConn, former CFO; Dr. Stefan Lang, former Chief Business Officer; Dr. Ilse Roodink, Chief Scientific Officer; Lisa Helbling, former Director and Chief Financial Officer, Dr. Barry Duplantis, former Vice President of Client Relations; Dr. Yasmina Abdiche, former Chief Scientific Officer; and Directors of the Company. During the years ended April 30, 2025, 2024 and 2023, the compensation for key management is as follows:


(in thousands)	2025 $		2024 $		2023 $
Salaries and other short-term benefits		3,828		2,454		2,632
Severance (included in salaries)		—		60		183
Share-based expense		386		928		986
Director compensation (included in salaries)		275		343		335
		4,489		3,785		4,136

At April 30, 2025, included in accounts payable and accrued liabilities is nil (April 30, 2024 - $0.3 million and 2023 - $0.9 million) due to related parties. The amounts payable are non-interest bearing and unsecured.

Capital Management

12 Months Ended

Apr. 30, 2025

Capital Management [Abstract]

CAPITAL MANAGEMENT

15.

CAPITAL MANAGEMENT

The Company’s objectives when managing capital are to ensure sufficient liquidity for operations and adequate funding for growth and capital expenditures while maintaining an efficient balance between debt and equity. As of April 30, 2025 the capital structure of the Company consists of shareholders’ equity of $23.6 million.

The Company makes adjustments to its capital structure upon approval from its Board of Directors, in light of economic conditions and the Company’s working capital requirements. There were no changes in the Company’s approach to capital management during the year. The Company is not subject to any externally imposed capital requirements.

Financial Instruments

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about financial instruments [abstract]

FINANCIAL INSTRUMENTS

16.

FINANCIAL INSTRUMENTS

The Company’s financial instruments include cash, amounts receivable, restricted cash, investment, accounts payable and accrued liabilities, debentures, loans payable, leases and deferred acquisition payments.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value, by reference to the reliability of the inputs used to estimate the fair values.

Level 1 – applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 – applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 – applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The fair value of investment is determined based on “Level 2” inputs as its value under the equity method was the best approximation of its fair value. As at April 30, 2025, the Company believes the carrying values of cash, amounts receivable,

restricted cash, accounts payable and accrued liabilities, leases and deferred acquisition payments approximate their fair values because of their nature and relatively short maturity dates or durations.

Concentration of risk:

Concentrations of credit risk

Credit risk relates to cash, restricted cash and amounts receivable and arises from the possibility that counterparty to an instrument may fail to perform. At April 30, 2025, all of the Company’s cash was held with tier one banks. Details of amounts receivable and allowance for credit losses as of April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	2025 $			2024 $			2023 $
Amounts receivable		4,165			3,819			3,280
Allowance for credit losses		(50	)		(29	)		(33	)
Amounts receivable, net		4,115			3,790			3,247

Currency risk

The Company operates in the US and Europe which gives rise to exposure to market risks from changes in foreign currency values. Most significantly, the Company is exposed to potential currency fluctuations between US and Canadian dollars, which was translated at 1.3812 at April 30, 2025, and the Euro and Canadian dollar, which was translated at 1.5687 at April 30, 2025. Fluctuations in the exchange rate could impact profitability.

At April 30, 2025, the Company is exposed to currency risk through the following assets and liabilities denominated in US dollars and Euros:


	Euros			US Dollars
(in thousands)	(€)			(U.S.$)
Cash		1,237			5,207
Amounts receivable		1,993			732
		3,230			5,939

Accounts payable and accrued liabilities		(1,819	)		(1,872	)
Deferred acquisition payments		(193	)		—
Leases		(6,315	)		—
		(8,327	)		(1,872	)

Net		(5,097	)		4,067

Liquidity risk

The Company’s approach to managing its obligations is to maintain sufficient resources to meet its obligations when due without undue risk to the Company. The Company monitors its cash requirements on an ongoing basis to ensure that there are sufficient resources for operations as well as to fund anticipated leasing, capital and development expenditures. In addition, the Company manages its cash to meet its obligations and to fund general and administrative costs.

Contractual cash flow requirements as of April 30, 2025 were as follows:


	< 1 year		1 - 2 years		2 - 5 years		>5 years		Total
(in thousands)	$		$		$		$		$
Accounts payable and accrued liabilities		5,283		—		—		—		5,283
Leases		2,695		2,692		6,733		4,514		16,634
Total		7,978		2,692		6,733		4,514		21,917

Inventories

12 Months Ended

Apr. 30, 2025

Inventories [Abstract]

INVENTORIES

17.

INVENTORIES

Inventories as of April 30, 2025 and 2024 consist of the following:


(in thousands)	2025 $		2024 $
Supplies and parts		1,714		1,734
Antibodies		194		190
Work in process		187		215
		2,095		2,139

For the years ended April 30, 2025, and 2024, inventory write-offs amounted to nil. These write-offs were primarily due to obsolescence and changes in market conditions affecting the net realizable value of the inventory.

Commitments	12 Months Ended
Commitments	Apr. 30, 2025
Commitments [Abstract]
COMMITMENTS	18. COMMITMENTS The share purchase agreement related to the acquisition of BioStrand includes contingent earnout payments based on 20% of the EBITDA of BioStrand, as defined in the share purchase agreement, over a 7-year period, which shall not exceed in total €12.0 million. The Company has determined these payments relate to post-acquisition services because they are contingent on the employment of two key employees and will be expensed in the period earned. As of April 30, 2025, the Company's unpaid maximum commitment related to the BioStrand earnout is €12.0 million.

Grant and Subsidy Income	12 Months Ended
Grant and Subsidy Income	Apr. 30, 2025
Grant And Subsidy Income [Abstract]
GRANT AND SUBSIDY INCOME	19. GRANT AND SUBSIDY INCOME During May 2022, the Company received a €0.5 million round of grant funding from VLAIO (Flanders Innovation & Entrepreneurship), the research fund of the Flemish regional government in Belgium. The Company received the first disbursement of €0.2 million during the three months ended July 31, 2022. During the year ended April 30, 2025, the Company recorded €0.1 million in grant income related to this funding compared to the €0.2 million recorded in year ended April 30, 2024.

Segmented Information and Economic Dependence

12 Months Ended

Apr. 30, 2025

Disclosure of operating segments [abstract]

SEGMENTED INFORMATION AND ECONOMIC DEPENDENCE

20.

SEGMENTED INFORMATION AND ECONOMIC DEPENDENCE

At April 30, 2025, 2024 and 2023, the Company has one reportable segment, being antibody production and related services.

The Company’s revenues are allocated to geographic regions for the year ended April 30, 2025, 2024 and 2023 as follows:


			Years ended April 30,
Revenue by Region (in thousands)	2025 $		2024 $		2023 $
United States of America		12,614		12,556		9,365
Europe		10,178		10,867		9,450
Canada		234		389		618
Australia		896		482		630
Other		598		224		602
		24,520		24,518		20,665

The Company’s revenues are allocated according to revenue types for the year ended April 30, 2025, 2024 and 2023 as follows:


			Years ended April 30,
Revenue Allocation (in thousands)	2025 $		2024 $		2023 $
Project revenue		22,175		22,235		18,677
Product sales revenue		2,107		2,035		1,747
Cryostorage revenue		238		248		241
		24,520		24,518		20,665

As of April 30, 2025, all deferred revenue is expected to be recognized over the next twelve months.

The Company’s non-current assets are allocated to geographic regions as of April 30, 2025, 2024 and 2023 as follows:


Non-Current Assets (in thousands)	2025 $		2024 $		2023 $
North America - Corporate		80		80		89
North America		4,167		4,138		1,025
Belgium		268		22,261		40,406
Netherlands		21,172		22,022		19,501
		25,687		48,501		61,021

Geographic segmentation of the Company’s net income (loss) for the year ended April 30, 2025, 2024 and 2023 is as follows:


				Years ended April 30,
Net Income (Loss) by Region (in thousands)	2025 $			2024 $			2023 $
North America - Corporate		(8,142	)		(7,846	)		(8,422	)
North America		699			(449	)		(12,601	)
Belgium		(23,908	)		(19,009	)		(7,024	)
Netherlands		1,117			1,189			1,487
		(30,234	)		(26,115	)		(26,560	)

Geographic segmentation of the interest and accretion, and amortization and depreciation for the year ended April 30, 2025, 2024 and 2023 is as follows:


			Years ended April 30,
Interest and accretion (in thousands)	2025 $		2024 $		2023 $
North America - Corporate		39		4		39
North America		223		231		19
Belgium		—		—		20
Netherlands		697		619		318
		959		854		396


			Years ended April 30,
Amortization and depreciation (in thousands)	2025 $		2024 $		2023 $
North America - Corporate		5		11		14
North America		672		687		720
Belgium		1,612		2,422		2,543
Netherlands		2,830		2,615		3,408
		5,119		5,735		6,685

Supplemental Cash Flow Information

12 Months Ended

Apr. 30, 2025

Statement of cash flows [abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

21.

SUPPLEMENTAL CASH FLOW INFORMATION


Non-cash investing and financing transactions (in thousands)	April 30, 2025 $		April 30, 2024 $		April 30, 2023 $
Acquisition of building and equipment by lease		995		7,826		7,593
Settlement of convertible debentures		4,242		—		1,315

The following changes in liabilities arose from financing activities:


						Non-cash changes
(in thousands)	April 30, 2024 $		Cash Flows $			Acquisition $		Debt forgiven / Settlement / Disposal $			Accretion $		Foreign exchange movements and change in estimates $		April 30, 2025 $
Deferred acquisition payments	#REF!			—			—		—			10	#REF!		#REF!
Convertible debentures		—		—			4,242		(4,242	)		—		—		—
Leases		13,681		(1,577	)		996		(99	)		—		402		13,403
Total	#REF!			(1,577	)		5,238		(4,341	)		10	#REF!		#REF!


						Non-cash changes
(in thousands)	April 30, 2023 $		Cash Flows $			Acquisition $		Settlement / Disposal $			Accretion $		Foreign exchange movements and change in estimates $		April 30, 2024 $
Deferred acquisition payments		649		(146	)		—		(294	)		19	#REF!		#REF!
Leases		7,267		(1,339	)		7,593		—			—		160		13,681
Total		7,916		(1,485	)		7,593		(294	)		19	#REF!		#REF!


						Non-cash changes
(in thousands)	April 30, 2022 $		Cash Flows $			Acquisition $		Settlement / Disposal $			Accretion $		Foreign exchange movements and change in estimates $			April 30, 2023 $
Deferred acquisition payments		1,237		(592	)		—		—			27		(23	)		649
Convertible debentures		1,312		—			—		(1,315	)		3		—			—
Leases		1,455		(1,337	)		7,593		—			—		(444	)		7,267
Total		4,004		(1,929	)		7,593		(1,315	)		30		(467	)		7,916

Income Taxes

12 Months Ended

Apr. 30, 2025

Disclosure Of Income Taxes [Abstract]

INCOME TAXES

INCOME TAX

Income tax expense differs from the amount that would be computed by applying the federal and provincial statutory tax rates of (2025 – 27%, 2024 – 27%, and 2023 – 27%) to the earnings before income taxes. The reasons for the differences and related tax effects are as follows:


	2025			2024			2023
	$			$			$
Loss before income taxes		(34,267	)		(28,703	)		(27,752	)

Income taxes on earnings before income taxes, at above statutory rate		(9,252	)		(7,750	)		(7,493	)
Increase (decrease) in taxes resulting from:
Nondeductible expenses		8			1			8
Estimated SR&ED ITC		(181	)		(166	)		(198	)
Effects of tax rate change and foreign exchange		—			—			209
Deferred tax liability		(3,871	)		(1,062	)		—
Tax rate difference by jurisdiction		479			588			948
Tax benefits not recognized		3,183			3,072			4,885
Impairment loss		5,720			2,790			602
Prior year tax assessments and adjustments		(197	)		(183	)		(420	)
Other		78			122			267
Income taxes		(4,033	)		(2,588	)		(1,192	)


	2025			2024			2023
	$			$			$
Current income taxes		185			352			(242	)
Deferred income taxes		(4,218	)		(2,940	)		(950	)
Income taxes		(4,033	)		(2,588	)		(1,192	)

Temporary differences give rise to the following deferred income tax assets and liabilities:


	2025			2024			2023
	$			$			$
Other tax pools		—			—			31
Capital assets net of lease liabilities		217			16			(61	)
Inventory and Intangible assets		(467	)		(4,084	)		(7,631	)
Recognized deferred income tax liabilities		(250	)		(4,068	)		(7,661	)


	2025			2024			2023
	$			$			$
Non-capital losses carried forward (expire from 2027 to 2040)		12,945			13,424			9,930
Capital losses carried forward		295			295			295
Capital assets net of lease liabilities		—			—			20
Financing costs		199			402			746
Less: unrecognized deferred income tax asset		(13,439	)		(14,121	)		(10,991	)
Unrecognized deferred income tax liabilities		—			—			—

On July 4, 2025, tax legislation known as the One Big Beautiful Bill Act ("OBBBA") was enacted in the United States. OBBBA modifies certain international tax provisions such as the tax on Global Intangible Low Taxed Income ("GILTI") and renames GILTI as Net CFC Tested Income ("NCTI"). The Company records NCTI taxes on a deferred basis. The Company is currently evaluating the impact of U.S. tax law changes introduced by OBBBA on our consolidated financial statements. A quantitative

estimate of the specific financial impacts cannot be reasonably determined at this time due to the complexity of the changes in OBBBA and the need for further analysis.

Subsequent Events

12 Months Ended

Apr. 30, 2025

Disclosure of non-adjusting events after reporting period [abstract]

SUBSEQUENT EVENTS

On July 7, 2025 the Company announced the appointment of Jon Lieber to its Board of Directors, effective immediately.

Mr. Lieber brings over 30 years of financial and strategic leadership across the biotechnology and life sciences sectors, with deep expertise in capital markets, investor relations, and corporate development. He currently serves as Chief Financial Officer at Rallybio, a clinical-stage biotechnology company developing therapies for severe and rare diseases. He also brings valuable experience in Nasdaq governance, having served as both a senior executive and board member of publicly traded companies.

Significant Accounting Policies (Policies)

12 Months Ended

Apr. 30, 2025

Disclosure Of Significant Accounting Policies [Abstract]

Business combinations

Acquisitions of businesses are accounted for using the acquisition model. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Company,

liabilities incurred by the Company to the former owners of the acquiree and the equity interests issued by the Company in exchange for control of the acquiree. Acquisition-related costs are recognized in profit or loss as incurred.

At the acquisition date, the identifiable assets acquired, and the liabilities assumed are recognized at their fair value at the acquisition date. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain.

When the consideration transferred by the Company in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date.

Revenue recognition

The Company recognizes revenue from sale of antibodies and service agreements.

Sale of antibodies:

Revenue from sale of antibodies is recognized when the terms of a contract with a customer have been satisfied. This occurs when:

•

The control over the product has been transferred to the customer; and

•

The product is received by the customer or transfer of title to the customer occurs upon shipment.

Following delivery, the customer bears the risks of obsolescence and loss in relation to the goods. Revenue is recognized based on the price specified in the contract, net of estimated sales discounts and returns.

Contract revenue:

Revenues from contracted services are generally recognized as the performance obligations are satisfied over time, and the related expenditures are incurred pursuant to the terms of the agreement. Contract revenue is recognized over time based on the input method, specifically the hours incurred. Revenue is recognized as the work progresses, in proportion to the amount of labor hours expended on the contract. For contracts with no enforceable right to payment when the contract is incomplete, contract revenue is recognized when the customers are satisfied with the service at the end of the contract and control of the product has been transferred to the customer. We apply the practical expedient outlined in IFRS 15.121, which allows us not to disclose information about remaining performance obligations as our contract duration is less than one year and we have the right to invoice for performance to date. The following table summarizes revenue recognized over time versus at a point in time for the years ended April 30:


			Years ended April 30,
Timing of recognition (in thousands)	2025 $		2024 $		2023 $
Point-in-time		22,175		22,235		18,677
Over time		2,345		2,283		1,988
		24,520		24,518		20,665

Unbilled revenue and deferred revenue:

Amounts recognized as revenue in excess of billings are classified as unbilled revenue. Amounts received in advance of the performance of services are classified as deferred revenue.

Cost of sales:

Cost of sales includes materials, direct labor, and allocation of overhead including depreciation of lab equipment.

Cash and Cash Equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value and are readily convertible to known amounts of cash.

Recognition and Measurement

Cash and cash equivalents are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any impairment losses. Due to the short-term nature of these instruments, the carrying amount is considered to be the same as their fair value.

Restricted Cash

Restricted cash is classified separately from cash and cash equivalents. It represents amounts that are held in trust or escrow accounts or that are otherwise restricted as to withdrawal or usage. The nature and purpose of restrictions on cash balances are disclosed in the notes to the financial statements. Restricted cash is not considered a component of cash and cash equivalents for the purpose of the statement of cash flows.

Financial instruments

Recognition and Classification

The Company recognizes a financial asset or financial liability on the statement of financial position when it becomes party to the contractual provisions of the financial instrument.

The Company classifies its financial instruments in the following categories: at fair value through profit and loss (“FVTPL”), at fair value through other comprehensive income (loss) (“FVTOCI”) or at amortized cost. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics.

Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL.


		Classification and measurement IFRS 9
Cash		Amortized cost
Amounts receivable		Amortized cost
Investment		FVTPL
Accounts payable and accrued liabilities		Amortized cost
Convertible Debentures		Amortized cost
Deferred acquisition payments		Amortized cost

Measurement

Financial assets and liabilities at FVTPL:

Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in profit or loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in profit or loss in the period in which they arise. Where management has opted to recognize a financial

liability at FVTPL, any changes associated with the Company’s own credit risk will be recognized in other comprehensive income (loss).

Financial assets at FVTOCI:

Elected investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains and losses recognized in other comprehensive income (loss).

Financial assets and liabilities at amortized cost:

Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment.

Impairment of financial assets at amortized cost:

The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses.

Irrespective of the preceding policy, the Company always measures the loss allowance of trade receivables at an amount equal to the lifetime expected credit losses.

The Company shall recognize in profit or loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.

Derecognition

Financial assets:

The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally recognized in profit or loss. However, gains and losses on derecognition of financial assets classified as FVTOCI remain within accumulated other comprehensive income (loss).

Financial liabilities:

The Company derecognizes financial liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets, is recognized in profit or loss.

Government assistance

The Company periodically applies for financial assistance under available government incentive programs. Government assistance relating to capital expenditures is reflected as a reduction of the cost of such assets. Government assistance relating to research and development expenditures is recorded as a reduction of current year's expenses when the related expenditures are incurred.

Government grant

The Company periodically applies for financial assistance under available government incentive programs. The grant is recognized when there is reasonable assurance that the Company will comply with the conditions attached to them and the grants will be received. All funds received as part of the grant or subsidies are reflected in grant and subsidy income.

Inventory

Inventory consists of supplies, parts and antibodies and is valued at the lower of weighted average cost and net realizable value. Costs include acquisition, freight and other directly attributable costs.

Equipment and leasehold improvements

Equipment and leasehold improvements are stated at cost, less accumulated depreciation and impairment losses. Depreciation is provided using the straight-line method over the following terms:


Asset	Basis	Term
Lab equipment	Straight line	5 years
Furniture and equipment	Straight line	5 years
Computer hardware	Straight line	2 years
Computer software	Straight line	1 year
Building	Straight line	Remaining term of the property lease
Automobile	Straight line	Remaining term of the automobile lease
Leasehold improvements	Straight line	Shorter of useful life and remaining term of the lease plus the first renewal option

The Company evaluates equipment and leasehold improvements for indications of impairment at the end of each reporting period. Impairment losses are immediately recognized in profit and loss.

Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalized development costs, are not capitalized and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.

The useful lives of intangible assets are assessed as either finite or indefinite.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. Amortization for intangible assets with finite lives is provided over the following terms:


Asset	Basis	Term
Internally generated development costs	Straight line	5 years
Intellectual property	Straight line	10 - 15 years
Proprietary processes	Straight line	5 years
Certifications	Straight line	1 year
Customer list	Straight line	2 years

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit ("CGU") level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis.

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized.

During the fiscal year ended April 30, 2024, the Company recorded an impairment of intangible assets charge of $3.9 million related to the BioStrand CGU. See Note 9 for more information.

During the fiscal year 2025, the Company recorded an impairment loss of $21.2 million for the BioStrand CGU. The loss was recorded as a reduction in the intangible assets in BioStrand. The primary factor for the impairment included a delay in expected cash flows of BioStrand due to the strategic plans and expected use of BioStrand's assets. The increased discount rate relates to additional forecast risk for the BioStrand CGU, as compared to fiscal year ended April 30, 2024.

Goodwill

Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill is not subject to amortization and an impairment test is performed annually or as events occur that could indicate impairment.

Goodwill is reported at cost less any impairment. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (“CGU”). To test for impairment, goodwill is allocated to each of the Company’s CGUs, groups of CGUs, or an operating segment expected to benefit from the acquisition. Goodwill is tested by combining the carrying amounts of equipment and leasehold improvements, intangible assets and goodwill and comparing this to the recoverable amount. Fair value less costs of disposal is price to be received in an orderly transaction between market participants. Value in use is assessed using the present value of the expected future cash flows. Any excess of the carrying amount over the recoverable amount is recorded as impairment. Impairment charges, which are not tax affected, are recognized in profit or loss and are not reversed.

During the fiscal year ended April 30, 2023, the Company recorded an impairment charge of $2.5 million related to the BioStrand CGU. During the year ended April 30, 2024, the Company recorded an impairment of goodwill charge of $11.2 million related to the BioStrand CGU. No impairment was recorded against goodwill for BioStrand for the year ended April 30, 2025. See Note 9 for more information.

Impairment of long-lived assets

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparison of their carrying amount to the recoverable amount. The recoverable amount is the higher of the fair value less costs of disposal or the value in use. Value in use is determined by the present value of the future cash flows from the asset. If the recoverable amount is less than the carrying amount, then there is impairment. Where an impairment loss exists, the portion of the carrying amount exceeding the recoverable amount is recorded as an expense immediately. Assets that have been impaired in prior periods are tested for possible reversal of impairment whenever events or changes in circumstance indicate that the impairment has reversed. If the impairment has reversed, the carrying amount of the asset is increased to its recoverable amount but not beyond the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior periods. The reversal is recognized in profit or loss immediately.

During the year ended April 30, 2024, the Company recorded an impairment of intangible assets charge of $3.9 million and an impairment of goodwill charge of $11.2 million related to the BioStrand CGU. The impairment losses were determined based on fair value less costs of disposal, considering discount rates, growth rates, and other relevant factors. See Note 8 and Note 9 for more information.

Income taxes

Income taxes are recognized in the statement of comprehensive loss, except where they relate to items recognized directly in equity, in which case the related taxes are recognized in equity.

Deferred tax assets and liabilities are recognized based on the difference between the tax and accounting values of assets and liabilities and are calculated using enacted or substantively enacted tax rates for the periods in which the differences are expected to reverse. The effect of tax rate changes is recognized in profit or loss or equity, as applicable, in the period of substantive enactment. Current taxes receivable or payable are estimated on taxable income for the current year at the statutory tax rates enacted or substantively enacted.

Deferred tax assets are recognized only to the extent that it is probable that future taxable profits of the relevant entity or group of entities, in a particular jurisdiction, will be available against which the assets can be utilized. As an exception, deferred tax assets and liabilities are not recognized if the temporary differences arise from the initial recognition of goodwill or an asset or liability in a transaction (other than in a business combination) that affects neither accounting profit nor taxable profit.

Investment tax credits (“ITCs”) are accounted for as a reduction in the cost of the expense when there is reasonable assurance that such credits will be realized. These ITCs are used to reduce current income taxes payable.

Leases

At inception of a contract, the Company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The liabilities for leases of right-of-use assets are recognized at the lease commencement date at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the Company’s incremental borrowing rate. At the commencement date, a right-of-use asset is measured at cost, which is comprised of the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any decommissioning and restoration costs, less any lease incentives received.

Each lease payment is allocated between repayment of the lease principal and interest. Interest on the lease liability in each period during the lease term is allocated to produce a constant periodic rate of interest on the remaining balance of the lease liability. Except where the costs are included in the carrying amount of another asset, the Company recognizes in profit or loss (a) the interest on a lease liability and (b) variable lease payments not included in the measurement of a lease liability in the period in which the event or condition that triggers those payments occurs. The Company subsequently measures the right-of-use asset at cost less any accumulated depreciation and any accumulated impairment losses; and adjusted for any remeasurement of the lease liability. Right-of-use assets are depreciated over the shorter of the asset’s useful life or the lease term, except where the lease contains a bargain purchase option a right-of-use asset is depreciated over the asset’s useful life.

Research and development

Research and development cost is charged to the income statement in the period in which it is incurred. Property, plant and equipment used for research and development is capitalized and depreciated in accordance with the equipment and leasehold improvements policy.

Share capital

Equity instruments are contracts that give a residual interest in the net assets of the Company. The Company's common shares are classified as equity instruments.

Proceeds from unit placements are allocated between common shares and warrants issued based on the residual value method, with the common shares being valued first.

Share issuance costs

Costs directly identifiable with the raising of share capital financing are charged against share capital. Share issuance costs incurred in advance of share subscriptions are recorded as deferred assets. Share issuance costs related to uncompleted share subscriptions are charged to operations.

Share-based payments

Where equity-settled share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period.

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to non-employees, they are recorded at the fair value of the goods or services received in profit or loss, unless they are related to the issuance of shares. Amounts related to the issuance of shares are recorded as a reduction of share capital.

When the value of goods or services received in exchange for the share-based payment cannot be reliably estimated, the fair value is measured by use of a valuation model. The expected life used in the model is adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioral considerations.

All equity-settled share-based payments are reflected in contributed surplus, until exercised. Upon exercise, shares are issued from treasury and the amount reflected in contributed surplus is credited to share capital, adjusted for any consideration paid.

Where a grant of options is cancelled or settled during the vesting period, excluding forfeitures when vesting conditions are not satisfied, the Company immediately accounts for the cancellation as an acceleration of vesting and recognizes the amount that otherwise would have been recognized for services received over the remainder of the vesting period. Any payment made to the employee on the cancellation is accounted for as the repurchase of an equity interest except to the extent the payment exceeds the fair value of the equity instrument granted, measured at the repurchase date. Any such excess is recognized as an expense.

Earnings (loss) per share

Basic earnings (loss) per share is calculated by dividing the net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Dilutive earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. In periods where a net loss is incurred, potentially dilutive common shares are excluded from the loss per share calculation as the effect would be anti-dilutive and basic and diluted loss per common share is the same. In a profit year, under the treasury stock method, the weighted average number of common shares outstanding used for the calculation of diluted earnings per share assumes that the proceeds to be received on the exercise of dilutive stock options and warrants are used to repurchase common shares at the average price during the year.

Basis of Presentation (Tables)

12 Months Ended

Apr. 30, 2025

Investments accounted for using equity method [abstract]

Summary of Subsidiaries which are Wholly Owned and Subject to Control

These consolidated financial statements include the financial statements of the Company and the following subsidiaries which are wholly owned and subject to control by the Company:


Name of Subsidiary	% Equity Interest - April 30, 2025, 2024 and 2023	Country of Incorporation	Functional Currency
ImmunoPrecise Antibodies (Canada) Ltd.	100%	Canada	Canadian dollar
ImmunoPrecise Antibodies (USA) Ltd. ("IPA USA")	100%	USA	US dollar
ImmunoPrecise Antibodies (N.D.) Ltd.	100%	USA	US dollar
ImmunoPrecise Antibodies (MA) LLC	100%	USA	US dollar
Talem Therapeutics LLC ("Talem")	100%	USA	US dollar
ImmunoPrecise Netherlands B.V.	100%	Netherlands	Euro
ImmunoPrecise Antibodies (Europe) B.V. ("IPA Europe")	100%	Netherlands	Euro
BioStrand B.V.	100%	Belgium	Euro
Idea Family B.V.	100%	Belgium	Euro
BioKey B.V.	100%	Belgium	Euro
BioClue B.V.	100%	Belgium	Euro

Summary of Effects of Adjustment on Comparative Periods in Financial Statements

The effects of this adjustment on the comparative periods in our Consolidated Statements of Financial Position and Comprehensive Loss as of April 30, 2025 are as follows:


	Previously reported			Adjustments			As adjusted
Balance sheet items: (in thousands)	4/30/2024			4/30/2024			4/30/2024
Deferred income tax liability		5,825			(1,757	)		4,068
Total liabilities		26,067			(1,757	)		24,310
Accumulated deficit		(100,265	)		1,705			(98,560	)
Accumulated other comprehensive income		2,025			52			2,077
Total shareholders' equity		33,921			1,757			35,678


	Previously reported (year)			Adjustments			As adjusted
Income statement items: (in thousands)	4/30/2024			4/30/2024			4/30/2024
Income taxes		1,526			1,062			2,588
Net loss for the period		(27,177	)		1,062			(26,115	)
Exchange difference on translating foreign operations		(600	)		(13	)		(613	)
Comprehensive loss for the period		(27,777	)		1,049			(26,728	)
Basic and diluted loss per share*		(1.06	)		0.04			(1.02	)

* Because of the net loss, basic and diluted loss per share are the same given potential dilutive common shares are excluded from the computation as their effect would be anti-dilutive.

Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure Of Significant Accounting Policies [Abstract]

Summary of Revenue Recognized Over Time Versus at Point in Time

The following table summarizes revenue recognized over time versus at a point in time for the years ended April 30:


			Years ended April 30,
Timing of recognition (in thousands)	2025 $		2024 $		2023 $
Point-in-time		22,175		22,235		18,677
Over time		2,345		2,283		1,988
		24,520		24,518		20,665

Summary of Classification and Measurement of Financial Assets and Liabilities

Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL.


		Classification and measurement IFRS 9
Cash		Amortized cost
Amounts receivable		Amortized cost
Investment		FVTPL
Accounts payable and accrued liabilities		Amortized cost
Convertible Debentures		Amortized cost
Deferred acquisition payments		Amortized cost

Schedule of Estimated Term of Asset

Equipment and leasehold improvements are stated at cost, less accumulated depreciation and impairment losses. Depreciation is provided using the straight-line method over the following terms:


Asset	Basis	Term
Lab equipment	Straight line	5 years
Furniture and equipment	Straight line	5 years
Computer hardware	Straight line	2 years
Computer software	Straight line	1 year
Building	Straight line	Remaining term of the property lease
Automobile	Straight line	Remaining term of the automobile lease
Leasehold improvements	Straight line	Shorter of useful life and remaining term of the lease plus the first renewal option

Summary of Amortization of Intangible Assets with Finite Lives

Amortization for intangible assets with finite lives is provided over the following terms:


Asset	Basis	Term
Internally generated development costs	Straight line	5 years
Intellectual property	Straight line	10 - 15 years
Proprietary processes	Straight line	5 years
Certifications	Straight line	1 year
Customer list	Straight line	2 years

Acquisition of Biostrand (Tables) - BioStrand B.V.

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about business combination [line items]

Summary of Allocated Purchase Price

The Company has allocated the purchase price as follows:


(in thousands)	$
Cash		4,985
Common shares of the Company		29,126
Fair value of consideration		34,111

Cash		36
Amounts receivable		80
Unbilled revenue		8
Equipment and right-of-use assets		247
Intellectual property (not deductible for tax purposes)		28,459
Proprietary processes (not deductible for tax purposes)		391
Goodwill (not deductible for tax purposes)		12,658
Accounts payable and accrued liabilities assumed		(342	)
Deferred revenue		9
Leases		(223	)
Deferred income tax liability		(7,212	)
		34,111

Summary of Changes in Value of Subsequent Payments

The changes in the value of the subsequent payments during the years ended April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	$
Balance, April 30, 2023		717
Foreign exchange		(11	)
Accretion		19
Working capital adjustment		(294	)
Deferred acquisition payment		(146	)
Balance, April 30, 2024		285
Foreign exchange		19
Accretion		10
Balance, April 30, 2025		314
Less: Current portion		(314	)
Non-current portion		—

Property and Equipment (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about property, plant and equipment [abstract]

Summary of Changes in the Value of Property and Equipment

The table below includes both property and equipment and right-of-use assets.


(in thousands)	Computer Hardware $			Furniture & Equipment $			Computer Software $			Building $			Automobile $			Leasehold Improvements $			Lab Equipment $			WIP - Leasehold Improvements $		Total $
Cost:
Balance, April 30, 2023		288			53			50			9,085			167			626			6,473			—		16,742
Additions		56			—			—			7,826			1			27			1,316			31		9,257
Disposals		(111	)		(31	)		(49	)		(1,634	)		—			(344	)		(2,554	)		—		(4,723	)
Foreign exchange		(4	)		(1	)		(1	)		(133	)		(3	)		(2	)		(92	)		—		(236	)
Balance, April 30, 2024		229			21			—			15,144			165			307			5,143			31		21,040
Additions		12			22			—			210			207			20			812			79		1,362
Disposals		—			—			—			—			(99	)		—			—			—		(99	)
Foreign exchange		40			2			—			820			18			9			300			—		1,189
Balance, April 30, 2025		281			45			—			16,174			291			336			6,255			110		23,492

Accumulated Depreciation:
Balance, April 30, 2023		157			33			50			1,752			57			388			3,913			—		6,350
Depreciation		101			4			—			1,723			56			58			849			—		2,791
Disposals		(110	)		(31	)		(49	)		(1,606	)		—			(344	)		(2,554	)		—		(4,694	)
Foreign exchange		(2	)		—			(1	)		(38	)		(1	)		—			(61	)		—		(103	)
Balance, April 30, 2024		146			6			—			1,831			112			102			2,147			—		4,344
Depreciation		66			8			—			1,922			67			65			788			—		2,916
Disposals		—			—			—			—			(99	)		—			—			—		(99	)
Foreign exchange		11			—			—			158			7			3			390			—		569
Balance, April 30, 2025		223			14			—			3,911			87			170			3,325			—		7,730

Net Book Value:
April 30, 2024		83			15			—			13,313			53			205			2,996			31		16,696
April 30, 2025		58			31			—			12,263			204			166			2,930			110		15,762

Intangibles assets (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about intangible assets [abstract]

Summary of Amortization for intangible assets with finite lives is provided over the following terms

Changes in the value of the intangible assets during the years ended April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	Internally Generated Development Costs $		Intellectual Property $			Proprietary Processes $			Certifications $			Customer List $			Total $
Cost:
Balance, April 30, 2023		33		35,143			8,103			139			198			43,616
Impairments and disposals		—		(3,830	)		(40	)		—			(193	)		(4,063	)
Foreign exchange		—		(595	)		(136	)		(3	)		(5	)		(739	)
Balance, April 30, 2024		33		30,718			7,927			136			—			38,814
Impairments and disposals		—		(21,184	)		(156	)		—			—			(21,340	)
Foreign exchange		—		1,435			552			10			—			1,997
Balance, April 30, 2025		33		10,969			8,323			146			—			19,471

Accumulated Amortization:
Balance, April 30, 2023		14		4,775			7,633			137			132			12,691
Amortization		19		2,666			216			2			65			2,968
Disposals		—		—			—			—			(193	)		(193	)
Foreign exchange		—		(75	)		(127	)		(3	)		(4	)		(209	)
Balance, April 30, 2024		33		7,366			7,722			136			—			15,257
Amortization		—		1,895			53			—			—			1,948
Foreign exchange		—		641			548			10			—			1,199
Balance, April 30, 2025		33		9,902			8,323			146			—			18,404

Net Book Value:
April 30, 2024		—		23,352			205			—			—			23,557
April 30, 2025		—		1,067			—			—			—			1,067

Goodwill (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about intangible assets [abstract]

Schedule of reconciliation of changes in goodwill

The goodwill was acquired as a result of the acquisitions of U-Protein, IPA Europe and BioStrand. The changes in the value of goodwill during the fiscal years ended April 30, 2025and 2024 are as follows:


(in thousands)	$
Balance, April 30, 2023		19,171
Foreign exchange		(323	)
Asset impairment		11,161
Balance, April 30, 2024		7,687
Foreign exchange		543
Balance, April 30, 2025		8,230

Schedule of In Tabular Form Of Allocating Goodwill To Cash Generating Units

For annual impairment testing, goodwill is allocated to the following cash-generating units ("CGU"):


(in thousands)	April 30, 2025 $		April 30, 2024 $
Oss		3,272		3,056
Utrecht		4,958		4,631
		8,230		7,687

Schedule of information for cash-generating units

The recoverable amount, growth rate assumptions and discount rates for each CGU as of April 30, 2025, 2024 are as follows:


	Recoverable amount				Terminal growth rates						Discount rates
(in thousands)	2025 $		2024 $		2025 $			2024 $			2025 $			2024 $
Oss		7,039		6,723		2.0	%		2.5	%		22.0	%		22.0	%
Utrecht		11,422		12,737		2.5	%		2.5	%		19.0	%		19.0	%
BioStrand		—		14,611		—			2.5	%		—			45.0	%

Leases (Tables)

12 Months Ended

Apr. 30, 2025

Presentation of leases for lessee [abstract]

Schedule of Future Minimum Lease Payments Related to Equipment under Finance Lease and Office Lease Obligation

The following is a schedule of the Company’s future minimum lease payments related to the equipment and automobiles under finance lease and the office lease obligation:


(in thousands)	$
2026		2,695
2027		2,692
2028		2,685
2029		2,366
2030		1,682
More than 5 years		4,514
Total minimum lease payments		16,634
Less: imputed interest		(3,231	)
Total present value of minimum lease payments		13,403
Less: Current portion		(1,850	)
Non-current portion		11,553

Schedule of Nature of Company's Leases Type of Right-of-Use Asset

The nature of the Company’s leases by type of right-of-use asset as of April 30, 2025 is as follows:


Right-of-use asset type	No. of right-of- use assets leased		Range of remaining term	Average remaining lease term	No. of leases with extension options		No. of leases with options to purchase		No. of leases with variable payments linked to an index		No. of leases with termination options
Lab and office facilities		3	3.7 - 8.7 years	6.6 years		1		—		3		3
Automobiles		4	1.7 - 4.5 years	3.7 years		—		—		4		4
Lab equipment		1	4.8 years	4.8 years		—		1		1		1

Schedule of Changes in the Value of Right-of-Use Assets

The changes in the value of right-of-use assets during the years ended April 30, 2025 and 2024 are as follows:


(in thousands)	Building $			Automobile $			Lab Equipment $		Total $
Cost:
Balance, April 30, 2023		9,085			167			—		9,252
Additions		7,826			1			—		7,827
Disposals		(1,634	)		—			—		(1,634	)
Foreign exchange		(133	)		(3	)		—		(136	)
Balance, April 30, 2024		15,144			165			—		15,309
Additions		210			207			578		995
Disposals		—			(99	)		—		(99	)
Foreign exchange		820			18			—		838
Balance, April 30, 2025		16,174			291			578		17,043

Accumulated Depreciation:
Balance, April 30, 2023		1,752			57			—		1,809
Depreciation		1,723			56			—		1,779
Disposals		(1,606	)		—			—		(1,606	)
Foreign exchange		(38	)		(1	)		—		(39	)
Balance, April 30, 2024		1,831			112			—		1,943
Depreciation		1,922			67			13		2,002
Disposals		—			(99	)		—		(99	)
Foreign exchange		158			7			—		165
Balance, April 30, 2025		3,911			87			13		4,011

Net Book Value:
April 30, 2024		13,313			53			—		13,366
April 30, 2025		12,263			204			565		13,032

Schedule of Lease Payments Not Recognized Liability

The expense relating to payments not included in the measurement of the lease liability during the years ended April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	2025 $		2024 $		2023 $
Leases of low value assets		21		7		40
Variable lease payments		567		467		215
		588		474		255

Share Capital (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of classes of share capital [abstract]

Summary of Stock Option Awards

The following table summarizes stock option awards during the years ended April 30, 2025, 2024 and 2023, including the fair value determined using the Black-Scholes option pricing model:


grant date	Stock options granted		Exercisable price/option $		Awarded to	Share price on grant date $	Dividend yield			Expected volatility			Risk-free rate			Expected life	Fair value
May 15, 2022(2)		80,000		5.79	Employees	3.79		0	%		77	%		2.73	%	5.0 years	$0.3 million
February 19, 2023(1)		29,060	4.10(7)		Directors	4.10(7)		0	%		77	%		3.57	%	4.0 years	$0.1 million
February 19, 2023(2)		609,452	4.10(7)		Officers and employees	4.10(7)		0	%		77	%		3.57	%	5.0 years	$2.2 million
January 19, 2024(6)		240,000	1.48(7)		Directors	1.48(7)		0	%		77	%		3.64	%	5.0 years	$0.4 million
January 4, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
January 23, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
March 1, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
March 15, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
April 2, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
May 8, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
May 23, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
June 11, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
August 8, 2023(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
November 13, 2023(6)		8,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$12 thousand
January 1, 2024(6)		12,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$18 thousand
February 1, 2024(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
February 19, 2024(6)		12,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$18 thousand
February 20, 2024(6)		4,000	1.47(7)		Employees	1.47(7)		0	%		77	%		3.68	%	10 years	$6 thousand
August 3, 2024(6)		799,767	0.86(7)		Officers and employees	0.86(7)		0	%		77	%		3.68	%	10 years	$0.7 million

(1)

Vesting conditions are as follows: one-quarter 3 months after grant date; one-quarter 6 months after grant date; one-quarter 9 months after grant date; and one-quarter 12 months after grant date.

(2)

Vesting conditions are as follows: one-third 6 months after grant date; one-third 12 months after grant date; and one-third 18 months after grant date.

(3)

Vesting conditions are as follows: one-third one year after grant date; one-third two years after grand date; and one-third three years after grant date.

(4)

Vesting conditions are as follows: one-third 2 months after grant date; one-third 4 months after grant date; and one-third 6 months after grant date.

(5)

Vesting conditions are as follows: one-half 3 months after grant date; one-half 6 months after grant date.

(6)

Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.

(7)

Priced in U.S.$

Summary of Changes in Stock Option

The changes in the stock options for the years ended April 30, 2025, 2024 are as follows:


	Number of options #			Weighted average exercise price $		Weighted average life remaining (years)
Balance, April 30, 2023 (outstanding)		1,884,428			8.03		3.27
Granted		332,000			2.02		—
Expired		(577,335	)		7.15		—
Forfeited		(117,726	)		4.15		—
Balance, April 30, 2024 (outstanding)		1,521,367			7.17		3.47
Granted		799,767			1.22		—
Expired		(159,021	)		3.80		—
Forfeited		(234,188	)		1.10		—
Balance, April 30, 2025 (outstanding)		1,927,925			5.69		4.45
Unvested		(661,194	)		1.30		9.02
Exercisable, April 30, 2025		1,266,731			7.98		2.06

Summary of Options Outstanding

Details of the options outstanding as at April 30, 2025 are as follows:


Expiry Date	Exercise price $		Remaining life (year)		Options outstanding		Unvested		Exercisable
September 1, 2025		8.50		0.34		220,000		—		220,000
January 6, 2026		20.30		0.69		138,000		—		138,000
January 2, 2026		6.89		0.68		5,650		-		5,650
January 7, 2027		7.94		1.69		235,000		—		235,000
January 13, 2027		8.30		1.71		16,000		-		16,000
May 15, 2027		5.79		2.04		64,000		-		64,000
February 19, 2027(2)		5.81		1.81		7,265		-		7,265
February 19, 2028(2)		5.81		2.81		475,452		-		475,452
January 19, 2034(3)		2.10		3.73		95,558		21,111		74,447
January 4, 2033(4)		2.08		7.69		8,000		3,667		4,333
January 23, 2033(4)		2.08		7.74		8,000		3,667		4,333
March 1, 2033(4)		2.08		7.84		8,000		4,000		4,000
April 2, 2033(4)		2.08		7.93		4,000		2,083		1,917
May 8, 2033(4)		2.08		8.03		4,000		2,167		1,833
June 11, 2033(4)		2.08		8.12		8,000		4,500		3,500
August 8, 2033(4)		2.08		8.28		4,000		2,417		1,583
November 13, 2033(4)		2.08		8.55		8,000		5,333		2,667
January 1, 2034(4)		2.08		8.68		12,000		8,500		3,500
February 1, 2034(4)		2.08		8.76		4,000		2,917		1,083
February 19, 2034(4)		2.08		8.81		8,000		5,833		2,167
August 2, 2034(4)		1.22		9.26		595,000		595,000		—
		5.69		4.45		1,927,925		661,194		1,266,731

(1)

Exercise price of U.S.$7.72. The figure in the table above is translated at the April 30, 2025 rate.

(2)

Exercise price of U.S.$4.10. The figure in the table above is translated at the April 30, 2025 rate.

(3)

Exercise price of U.S.$1.48. The figure in the table above is translated at the April 30, 2025 rate.

(4)

Exercise price of U.S.$1.47. The figure in the table above is translated at the April 30, 2025 rate.

Summary of Changes in Finder's Warrants

The changes in the finder’s warrants for the years ended April 30, 2025, 2024 are as follows:


	Number of warrants #		Weighted average exercise price $		Weighted average life remaining (years)
Balance, April 30, 2023		130,111		22.77		2.77
Issued		56,650		1.37		4.61
Balance, April 30, 2024		186,761		16.44		2.62
Balance, April 30, 2025		186,761		17.02		1.62

Details of Finder's Warrants Outstanding

Details of the finder’s warrants outstanding as at April 30, 2025 are as follows:


Expiry Date	Exercise price $		Remaining life (year)		Warrants outstanding
February 3, 2026(1)		23.81		0.76		130,111
December 8, 2028(2)		1.42		3.61		56,650

(1)

Exercise price of U.S.$16.81. The figure in the table above is translated at the April 30, 2025 rate.

(2)

Exercise price of U.S.$1.00. The figure in the table above is translated at the April 30, 2025 rate.

Summarizes Activity Related to RSUs

The following table summarizes the activity related to the Company's RSUs for the year ended April 30, 2025. For purposes of this table, vested RSUs represent the shares for which the service condition had been fulfilled as of April 30, 2025:


	Number of Restricted Stock Units #			Weighted average grant date fair value $
Balance, April 30, 2024		—			—
Granted		46,000			0.42
Balance, April 30, 2025 (outstanding)		46,000			0.42
Unvested		(39,771	)		0.42
Vested and outstanding, April 30, 2025		6,229			0.42

Employee Remuneration (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of employee benefits expenses [abstract]

Summary of Expenses Recognized for Employee Benefits

Expenses recognized for employee benefits for the years ended April 30, 2025, 2024 and 2023 are detailed below:



(in thousands)	2025 $		2024 $		2023 $
Wages, salaries		10,069		10,733		10,433
Employee benefits		947		938		926
Payroll taxes		772		774		939
Severance		—		60		194
Share-based expense		445		1,535		1,943
		12,233		14,040		14,435

Related Party Transactions (Tables)

12 Months Ended

Apr. 30, 2025

Schedule of Schedule of Compensation For Key Management

During the years ended April 30, 2025, 2024 and 2023, the compensation for key management is as follows:


(in thousands)	2025 $		2024 $		2023 $
Salaries and other short-term benefits		3,828		2,454		2,632
Severance (included in salaries)		—		60		183
Share-based expense		386		928		986
Director compensation (included in salaries)		275		343		335
		4,489		3,785		4,136

Financial Instruments (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of detailed information about financial instruments [abstract]

Schedule of Details of Amounts Receivable and Allowances for Credit Losses

Details of amounts receivable and allowance for credit losses as of April 30, 2025, 2024 and 2023 are as follows:


(in thousands)	2025 $			2024 $			2023 $
Amounts receivable		4,165			3,819			3,280
Allowance for credit losses		(50	)		(29	)		(33	)
Amounts receivable, net		4,115			3,790			3,247

Summary of Classification and Measurement of Financial Assets and Liabilities

At April 30, 2025, the Company is exposed to currency risk through the following assets and liabilities denominated in US dollars and Euros:


	Euros			US Dollars
(in thousands)	(€)			(U.S.$)
Cash		1,237			5,207
Amounts receivable		1,993			732
		3,230			5,939

Accounts payable and accrued liabilities		(1,819	)		(1,872	)
Deferred acquisition payments		(193	)		—
Leases		(6,315	)		—
		(8,327	)		(1,872	)

Net		(5,097	)		4,067

Schedule of Contractual Cash Flow Requirements

Contractual cash flow requirements as of April 30, 2025 were as follows:


	< 1 year		1 - 2 years		2 - 5 years		>5 years		Total
(in thousands)	$		$		$		$		$
Accounts payable and accrued liabilities		5,283		—		—		—		5,283
Leases		2,695		2,692		6,733		4,514		16,634
Total		7,978		2,692		6,733		4,514		21,917

Inventories (Tables)

12 Months Ended

Apr. 30, 2025

Classes of current inventories [abstract]

Summary of Detailed Information About Inventories

Inventories as of April 30, 2025 and 2024 consist of the following:


(in thousands)	2025 $		2024 $
Supplies and parts		1,714		1,734
Antibodies		194		190
Work in process		187		215
		2,095		2,139

For the years ended April 30, 2025, and 2024, inventory write-offs amounted to nil. These write-offs were primarily due to obsolescence and changes in market conditions affecting the net realizable value of the inventory.

Segmented Information and Economic Dependence (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure of operating segments [abstract]

Summary of Geographical Segments

The Company’s revenues are allocated to geographic regions for the year ended April 30, 2025, 2024 and 2023 as follows:


			Years ended April 30,
Revenue by Region (in thousands)	2025 $		2024 $		2023 $
United States of America		12,614		12,556		9,365
Europe		10,178		10,867		9,450
Canada		234		389		618
Australia		896		482		630
Other		598		224		602
		24,520		24,518		20,665

The Company’s non-current assets are allocated to geographic regions as of April 30, 2025, 2024 and 2023 as follows:


Non-Current Assets (in thousands)	2025 $		2024 $		2023 $
North America - Corporate		80		80		89
North America		4,167		4,138		1,025
Belgium		268		22,261		40,406
Netherlands		21,172		22,022		19,501
		25,687		48,501		61,021

Geographic segmentation of the Company’s net income (loss) for the year ended April 30, 2025, 2024 and 2023 is as follows:


				Years ended April 30,
Net Income (Loss) by Region (in thousands)	2025 $			2024 $			2023 $
North America - Corporate		(8,142	)		(7,846	)		(8,422	)
North America		699			(449	)		(12,601	)
Belgium		(23,908	)		(19,009	)		(7,024	)
Netherlands		1,117			1,189			1,487
		(30,234	)		(26,115	)		(26,560	)

Geographic segmentation of the interest and accretion, and amortization and depreciation for the year ended April 30, 2025, 2024 and 2023 is as follows:


			Years ended April 30,
Interest and accretion (in thousands)	2025 $		2024 $		2023 $
North America - Corporate		39		4		39
North America		223		231		19
Belgium		—		—		20
Netherlands		697		619		318
		959		854		396


			Years ended April 30,
Amortization and depreciation (in thousands)	2025 $		2024 $		2023 $
North America - Corporate		5		11		14
North America		672		687		720
Belgium		1,612		2,422		2,543
Netherlands		2,830		2,615		3,408
		5,119		5,735		6,685

Summary of Revenues Allocated According to Revenue Types

The Company’s revenues are allocated according to revenue types for the year ended April 30, 2025, 2024 and 2023 as follows:


			Years ended April 30,
Revenue Allocation (in thousands)	2025 $		2024 $		2023 $
Project revenue		22,175		22,235		18,677
Product sales revenue		2,107		2,035		1,747
Cryostorage revenue		238		248		241
		24,520		24,518		20,665

Supplemental Cash Flow Information (Tables)

12 Months Ended

Apr. 30, 2025

Statement of cash flows [abstract]

Summary of Non-cash Investing and Financing Transactions


Non-cash investing and financing transactions (in thousands)	April 30, 2025 $		April 30, 2024 $		April 30, 2023 $
Acquisition of building and equipment by lease		995		7,826		7,593
Settlement of convertible debentures		4,242		—		1,315

Summary of Changes in Liabilities Arose From Financing Activities

The following changes in liabilities arose from financing activities:


						Non-cash changes
(in thousands)	April 30, 2024 $		Cash Flows $			Acquisition $		Debt forgiven / Settlement / Disposal $			Accretion $		Foreign exchange movements and change in estimates $		April 30, 2025 $
Deferred acquisition payments	#REF!			—			—		—			10	#REF!		#REF!
Convertible debentures		—		—			4,242		(4,242	)		—		—		—
Leases		13,681		(1,577	)		996		(99	)		—		402		13,403
Total	#REF!			(1,577	)		5,238		(4,341	)		10	#REF!		#REF!


						Non-cash changes
(in thousands)	April 30, 2023 $		Cash Flows $			Acquisition $		Settlement / Disposal $			Accretion $		Foreign exchange movements and change in estimates $		April 30, 2024 $
Deferred acquisition payments		649		(146	)		—		(294	)		19	#REF!		#REF!
Leases		7,267		(1,339	)		7,593		—			—		160		13,681
Total		7,916		(1,485	)		7,593		(294	)		19	#REF!		#REF!


						Non-cash changes
(in thousands)	April 30, 2022 $		Cash Flows $			Acquisition $		Settlement / Disposal $			Accretion $		Foreign exchange movements and change in estimates $			April 30, 2023 $
Deferred acquisition payments		1,237		(592	)		—		—			27		(23	)		649
Convertible debentures		1,312		—			—		(1,315	)		3		—			—
Leases		1,455		(1,337	)		7,593		—			—		(444	)		7,267
Total		4,004		(1,929	)		7,593		(1,315	)		30		(467	)		7,916

Income Taxes (Tables)

12 Months Ended

Apr. 30, 2025

Disclosure Of Income Taxes [Abstract]

Summary of Differences and Related Tax Effects

Income tax expense differs from the amount that would be computed by applying the federal and provincial statutory tax rates of (2025 – 27%, 2024 – 27%, and 2023 – 27%) to the earnings before income taxes. The reasons for the differences and related tax effects are as follows:


	2025			2024			2023
	$			$			$
Loss before income taxes		(34,267	)		(28,703	)		(27,752	)

Income taxes on earnings before income taxes, at above statutory rate		(9,252	)		(7,750	)		(7,493	)
Increase (decrease) in taxes resulting from:
Nondeductible expenses		8			1			8
Estimated SR&ED ITC		(181	)		(166	)		(198	)
Effects of tax rate change and foreign exchange		—			—			209
Deferred tax liability		(3,871	)		(1,062	)		—
Tax rate difference by jurisdiction		479			588			948
Tax benefits not recognized		3,183			3,072			4,885
Impairment loss		5,720			2,790			602
Prior year tax assessments and adjustments		(197	)		(183	)		(420	)
Other		78			122			267
Income taxes		(4,033	)		(2,588	)		(1,192	)


	2025			2024			2023
	$			$			$
Current income taxes		185			352			(242	)
Deferred income taxes		(4,218	)		(2,940	)		(950	)
Income taxes		(4,033	)		(2,588	)		(1,192	)

Summary of Temporary Differences to Deferred Income Tax Assets and Liabilities

Temporary differences give rise to the following deferred income tax assets and liabilities:


	2025			2024			2023
	$			$			$
Other tax pools		—			—			31
Capital assets net of lease liabilities		217			16			(61	)
Inventory and Intangible assets		(467	)		(4,084	)		(7,631	)
Recognized deferred income tax liabilities		(250	)		(4,068	)		(7,661	)


	2025			2024			2023
	$			$			$
Non-capital losses carried forward (expire from 2027 to 2040)		12,945			13,424			9,930
Capital losses carried forward		295			295			295
Capital assets net of lease liabilities		—			—			20
Financing costs		199			402			746
Less: unrecognized deferred income tax asset		(13,439	)		(14,121	)		(10,991	)
Unrecognized deferred income tax liabilities		—			—			—

On July 4, 2025, tax legislation known as the One Big Beautiful Bill Act ("OBBBA") was enacted in the United States. OBBBA modifies certain international tax provisions such as the tax on Global Intangible Low Taxed Income ("GILTI") and renames GILTI as Net CFC Tested Income ("NCTI"). The Company records NCTI taxes on a deferred basis. The Company is currently evaluating the impact of U.S. tax law changes introduced by OBBBA on our consolidated financial statements. A quantitative

estimate of the specific financial impacts cannot be reasonably determined at this time due to the complexity of the changes in OBBBA and the need for further analysis.

Nature of Operations - Additional Information (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Jul. 13, 2025 $ / shares	Aug. 19, 2024 $ / shares	Apr. 30, 2025 CAD ($)	Apr. 30, 2024 CAD ($)	Apr. 30, 2023 CAD ($)
Disclosure Of Nature Of Operations [Line Items]
Net losses			$ 30,234	$ 26,115	$ 26,560
Accumulated deficit			128,794	$ 98,560
Cash on hand			$ 10,800
Top of Range
Disclosure Of Nature Of Operations [Line Items]
Bid price of common stock \| $ / shares		$ 1
Bottom of Range \| Bid Common Shares
Disclosure Of Nature Of Operations [Line Items]
Bid price of common stock \| $ / shares	$ 1

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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-Name IAS
-Number 7
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+ Details

Basis of Presentation - Summary of Subsidiaries which are Wholly Owned and Subject to Control (Details)	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
ImmunoPrecise Antibodies (Canada) Ltd.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	ImmunoPrecise Antibodies (Canada) Ltd.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Canada
Functional Currency	Canadian dollar
ImmunoPrecise Antibodies (USA) Ltd. ("IPA USA")
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	ImmunoPrecise Antibodies (USA) Ltd. ("IPA USA")
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	USA
Functional Currency	US dollar
ImmunoPrecise Antibodies (N.D.) Ltd.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	ImmunoPrecise Antibodies (N.D.) Ltd.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	USA
Functional Currency	US dollar
ImmunoPrecise Antibodies (MA) LLC
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	ImmunoPrecise Antibodies (MA) LLC
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	USA
Functional Currency	US dollar
Talem Therapeutics LLC ("Talem")
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	Talem Therapeutics LLC ("Talem")
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	USA
Functional Currency	US dollar
ImmunoPrecise Netherlands B.V.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	ImmunoPrecise Netherlands B.V.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Netherlands
Functional Currency	Euro
ImmunoPrecise Antibodies (Europe) B.V. ("IPA Europe")
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	ImmunoPrecise Antibodies (Europe) B.V. ("IPA Europe")
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Netherlands
Functional Currency	Euro
BioStrand B.V.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	BioStrand B.V.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Belgium
Functional Currency	Euro
Idea Family B.V.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	Idea Family B.V.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Belgium
Functional Currency	Euro
BioKey B.V.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	BioKey B.V.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Belgium
Functional Currency	Euro
BioClue B.V.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of Subsidiary	BioClue B.V.
Equity Interest percentage	100.00%	100.00%	100.00%
Country of Incorporation	Belgium
Functional Currency	Euro

Basis of Presentation - Summary of Effects of Adjustment on Comparative Periods in Consolidated Balance Sheet (Details) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Statement Of Balance Sheet [line items]
Deferred income tax liability	$ 250	$ 4,068
Total liabilities	20,815	24,310
Accumulated deficit	(128,794)	(98,560)
Accumulated other comprehensive income	3,216	2,077
Total shareholders' equity	$ 23,626	35,678	$ 58,511
Previously Reported
Statement Of Balance Sheet [line items]
Deferred income tax liability		5,825
Total liabilities		26,067
Accumulated deficit		(100,265)
Accumulated other comprehensive income		2,025
Total shareholders' equity		33,921
Adjustments
Statement Of Balance Sheet [line items]
Deferred income tax liability		(1,757)
Total liabilities		(1,757)
Accumulated deficit		1,705
Accumulated other comprehensive income		52
Total shareholders' equity		$ 1,757

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Basis of Presentation - Summary of Effects of Adjustment on Comparative Periods in Income Statement (Details) - CAD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Income Statement [line items]
Income taxes	$ 4,033	$ 2,588	$ 1,192
Net loss for the period	(30,234)	(26,115)	(26,560)
Exchange difference on translating foreign operations	1,139	(613)	5,104
Comprehensive loss for the period	$ (29,095)	$ (26,728)	$ (21,456)
Basic loss per share	$ (0.91)	$ (1.02)	$ (1.07)
Diluted loss per share	$ (0.91)	$ (1.02)	$ (1.07)
Previously Reported
Income Statement [line items]
Income taxes		$ 1,526
Net loss for the period		(27,177)
Exchange difference on translating foreign operations		(600)
Comprehensive loss for the period		$ (27,777)
Basic loss per share		$ (1.06)
Diluted loss per share		$ (1.06)
Adjustments
Income Statement [line items]
Income taxes		$ 1,062
Net loss for the period		1,062
Exchange difference on translating foreign operations		(13)
Comprehensive loss for the period		$ 1,049
Basic loss per share		$ 0.04
Diluted loss per share		$ 0.04

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2024-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2024-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2024-03-27

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_23&doctype=Standard
-URIDate 2024-03-27

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2024-03-27

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2024-01-01
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2024-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2024-03-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2024-03-27

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2024-03-27

+ Details

Significant Accounting Policies - Summary of Classification and Measurement of Financial Assets and Liabilities (Details)	12 Months Ended
	Apr. 30, 2025
Cash
Disclosure Of Financial Instruments [Line Items]
Financial assets, Classification and measurement IFRS 9	Amortized cost
Amounts Receivable
Disclosure Of Financial Instruments [Line Items]
Financial assets, Classification and measurement IFRS 9	Amortized cost
Investment
Disclosure Of Financial Instruments [Line Items]
Financial assets, Classification and measurement IFRS 9	FVTPL
Accounts Payable and Accrued Liabilities
Disclosure Of Financial Instruments [Line Items]
Financial liabilities, Classification and measurement IFRS 9	Amortized cost
Convertible Debentures
Disclosure Of Financial Instruments [Line Items]
Financial liabilities, Classification and measurement IFRS 9	Amortized cost
Deferred Acquisition Payments
Disclosure Of Financial Instruments [Line Items]
Financial liabilities, Classification and measurement IFRS 9	Amortized cost

Significant Accounting Policies - Summary of Revenue Recognized Over Time Versus at Point in Time (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of detailed information about financial instruments [line items]
Revenue	$ 24,520	$ 24,518	$ 20,665
Point-in-Time
Disclosure of detailed information about financial instruments [line items]
Revenue	22,175	22,235	18,677
Over Time
Disclosure of detailed information about financial instruments [line items]
Revenue	$ 2,345	$ 2,283	$ 1,988

Significant Accounting Policies - Schedule of Estimated Term of Asset (Details)	12 Months Ended
	Apr. 30, 2025
Lab Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	5 years
Furniture and Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	5 years
Computer Hardware
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	2 years
Building
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	Remaining term of the property lease
Automobile
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	Remaining term of the automobile lease
Leasehold Improvements
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	Shorter of useful life and remaining term of the lease plus the first renewal option
Computer Software
Disclosure Of Property Plant And Equipment [Line Items]
Basis	Straight line
Term	1 year

Significant Accounting Policies - Summary of Amortization of Intangible Assets with Finite Lives (Details)	12 Months Ended
	Apr. 30, 2025
Internally generated development costs
Disclosure of detailed information about intangible assets [line items]
Basis	Straight line
Term	5 years
Intellectual property
Disclosure of detailed information about intangible assets [line items]
Basis	Straight line
Intellectual property \| Bottom of range [member]
Disclosure of detailed information about intangible assets [line items]
Term	10 years
Intellectual property \| Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Term	15 years
Proprietary processes
Disclosure of detailed information about intangible assets [line items]
Basis	Straight line
Term	5 years
Certifications
Disclosure of detailed information about intangible assets [line items]
Basis	Straight line
Term	1 year
Customer list
Disclosure of detailed information about intangible assets [line items]
Basis	Straight line
Term	2 years

Significant Accounting Policies - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of detailed information about intangible assets [line items]
Impairment of long-lived assets, description	The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparison of their carrying amount to the recoverable amount. The recoverable amount is the higher of the fair value less costs of disposal or the value in use. Value in use is determined by the present value of the future cash flows from the asset. If the recoverable amount is less than the carrying amount, then there is impairment. Where an impairment loss exists, the portion of the carrying amount exceeding the recoverable amount is recorded as an expense immediately. Assets that have been impaired in prior periods are tested for possible reversal of impairment whenever events or changes in circumstance indicate that the impairment has reversed. If the impairment has reversed, the carrying amount of the asset is increased to its recoverable amount but not beyond the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior periods. The reversal is recognized in profit or loss immediately.
Impairment of goodwill	$ 0	$ 11,161	$ 2,460
BioStrand
Disclosure of detailed information about intangible assets [line items]
Impairment of intangible assets charge		3,900
Impairment of goodwill	$ 21,200	$ 11,200	$ 2,500

Critical Accounting Estimates And Judgments - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Critical Accounting Estimates And Judgments [Line Items]
Goodwill	$ 8,230	$ 7,687
Impairment of goodwill	0	11,161	$ 2,460
Oss
Disclosure Of Critical Accounting Estimates And Judgments [Line Items]
Goodwill	3,300	3,100
Utrecht
Disclosure Of Critical Accounting Estimates And Judgments [Line Items]
Goodwill	4,900	4,600
Biostrand
Disclosure Of Critical Accounting Estimates And Judgments [Line Items]
Impairment of goodwill	$ 21,200	$ 11,200	$ 2,500

Acquisition of Biostrand - Additional Information (Detail) $ in Thousands, € in Millions			12 Months Ended
	Apr. 13, 2022 CAD ($) shares	Apr. 13, 2022 EUR (€)	Apr. 30, 2025 CAD ($)	Apr. 30, 2024 CAD ($)	Apr. 30, 2023 CAD ($)	Apr. 30, 2022 CAD ($) shares	Apr. 30, 2022 EUR (€)	Apr. 30, 2022 EUR (€) shares	Apr. 13, 2022 EUR (€) shares
Disclosure of detailed information about business combination [line items]
Net income (loss)			$ (30,234)	$ (26,115)	$ (26,560)
Amortization on the intangible assets			$ 1,948	$ 2,968	$ 4,414
BioStrand B.V. [Member]
Disclosure of detailed information about business combination [line items]
Cash paid at the time or acquisition	$ 3,700								€ 2.7
Transaction costs						$ 700
Fair value of common shares issued	$ 29,126
Deferred cash payment						$ 100	€ 1.0
Intellectual property assets useful life						15 years	15 years
BioStrand B.V. [Member] \| Escrow Agreement [Member] \| Tranche One [Member]
Disclosure of detailed information about business combination [line items]
Percentage of shares to be released to vendors						15.00%		15.00%
BioStrand B.V. [Member] \| Escrow Agreement [Member] \| Tranche Two [Member]
Disclosure of detailed information about business combination [line items]
Percentage of shares to be released to vendors						20.00%		20.00%
BioStrand B.V. [Member] \| Escrow Agreement [Member] \| Tranche Three [Member]
Disclosure of detailed information about business combination [line items]
Percentage of shares to be released to vendors						65.00%		65.00%
BioStrand B.V. [Member] \| Ninety Days [Member]
Disclosure of detailed information about business combination [line items]
Period of deferred cash payments	90 days	90 days
Deferred cash payment	$ 700	€ 0.5
BioStrand B.V. [Member] \| Three Years [Member]
Disclosure of detailed information about business combination [line items]
Period of deferred cash payments	3 years	3 years
Deferred cash payment	$ 600	€ 0.5
BioStrand B.V. [Member] \| Ordinary shares [member]
Disclosure of detailed information about business combination [line items]
Number of common shares issued \| shares	4,077,774					4,077,774		4,077,774	4,077,774
Fair value of common shares issued						$ 29,100		€ 21.3

Acquisition of Biostrand - Summary of Allocated Purchase Price (Detail) - BioStrand B.V. [Member] $ in Thousands	Apr. 13, 2022 CAD ($)
Disclosure of detailed information about business combination [line items]
Cash	$ 4,985
Common shares of the Company	29,126
Fair value of consideration	34,111
Cash	36
Amounts receivable	80
Unbilled revenue	8
Equipment and right-of-use assets	247
Intellectual property (not deductible for tax purposes)	28,459
Proprietary processes (not deductible for tax purposes)	391
Goodwill (not deductible for tax purposes)	12,658
Accounts payable and accrued liabilities assumed	(342)
Deferred revenue	9
Leases	(223)
Deferred income tax liability	(7,212)
Total net assets acquired and liabilities assumed	$ 34,111

Acquisition of Biostrand - Summary of Changes in Value of Subsequent Payments (Detail) - BioStrand B.V. [Member] - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024
Disclosure of detailed information about business combination [line items]
Beginning balance	$ 285	$ 717
Foreign exchange	19	(11)
Accretion	10	19
Working capital adjustment		(294)
Deferred acquisition payment		(146)
Ending balance	314	$ 285
Less: Current portion	$ (314)

Property and Equipment - Summary of Changes in the Value of Property and Equipment (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	$ 16,696
Ending balance	15,762	$ 16,696
Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	21,040	16,742
Additions	1,362	9,257
Disposals	(99)	(4,723)
Foreign exchange	1,189	(236)
Ending balance	23,492	21,040
Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(4,344)	(6,350)
Depreciation	2,916	2,791
Disposals	99	4,694
Foreign exchange	569	(103)
Ending balance	(7,730)	(4,344)
Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	16,696
Ending balance	15,762	16,696
Computer Hardware \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	229	288
Additions	12	56
Disposals	0	(111)
Foreign exchange	40	(4)
Ending balance	281	229
Computer Hardware \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(146)	(157)
Depreciation	66	101
Disposals	0	110
Foreign exchange	11	(2)
Ending balance	(223)	(146)
Computer Hardware \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	83
Ending balance	58	83
Furniture and Equipment \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	21	53
Additions	22	0
Disposals	0	(31)
Foreign exchange	2	(1)
Ending balance	45	21
Furniture and Equipment \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(6)	(33)
Depreciation	8	4
Disposals	0	31
Foreign exchange	0	0
Ending balance	(14)	(6)
Furniture and Equipment \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	15
Ending balance	31	15
Computer Software \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	0	50
Additions	0	0
Disposals	0	(49)
Foreign exchange	0	(1)
Ending balance	0	0
Computer Software \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(0)	(50)
Depreciation	0	0
Disposals	0	49
Foreign exchange	0	(1)
Ending balance	(0)	(0)
Computer Software \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	0
Ending balance	0	0
Building \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	15,144	9,085
Additions	210	7,826
Disposals	0	(1,634)
Foreign exchange	820	(133)
Ending balance	16,174	15,144
Building \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(1,831)	(1,752)
Depreciation	1,922	1,723
Disposals	0	1,606
Foreign exchange	158	(38)
Ending balance	(3,911)	(1,831)
Building \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	13,313
Ending balance	12,263	13,313
Automobile \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	165	167
Additions	207	1
Disposals	(99)	0
Foreign exchange	18	(3)
Ending balance	291	165
Automobile \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(112)	(57)
Depreciation	67	56
Disposals	99	0
Foreign exchange	7	(1)
Ending balance	(87)	(112)
Automobile \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	53
Ending balance	204	53
Leasehold Improvements \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	307	626
Additions	20	27
Disposals	0	(344)
Foreign exchange	9	(2)
Ending balance	336	307
Leasehold Improvements \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(102)	(388)
Depreciation	65	58
Disposals	0	344
Foreign exchange	3	0
Ending balance	(170)	(102)
Leasehold Improvements \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	205
Ending balance	166	205
Lab Equipment \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	5,143	6,473
Additions	812	1,316
Disposals	0	(2,554)
Foreign exchange	300	(92)
Ending balance	6,255	5,143
Lab Equipment \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(2,147)	(3,913)
Depreciation	788	849
Disposals	0	2,554
Foreign exchange	390	(61)
Ending balance	(3,325)	(2,147)
Lab Equipment \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	2,996
Ending balance	2,930	2,996
WIP - Leasehold Improvements \| Cost
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	31	0
Additions	79	31
Disposals	0	0
Foreign exchange	0	0
Ending balance	110	31
WIP - Leasehold Improvements \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	(0)	(0)
Depreciation	0	0
Disposals	0	0
Foreign exchange	0	0
Ending balance	(0)	(0)
WIP - Leasehold Improvements \| Net Book Value
Disclosure Of Property Plant And Equipment [Line Items]
Beginning balance	31
Ending balance	$ 110	$ 31

Intangibles Assets - Summary of Changes in the Value of the Intangible Assets (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024
Disclosure of detailed information about intangible assets [line items]
Beginning balance	$ 23,557
Ending balance	1,067	$ 23,557
Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	38,814	43,616
Impairments and disposals	(21,340)	(4,063)
Foreign exchange	1,997	(739)
Ending balance	19,471	38,814
Accumulated Amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	15,257	12,691
Amortization	1,948	2,968
Disposals		(193)
Foreign exchange	1,199	(209)
Ending balance	18,404	15,257
Net Book Value
Disclosure of detailed information about intangible assets [line items]
Beginning balance	23,557
Ending balance	1,067	23,557
Internally Generated Development Costs \| Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	33	33
Impairments and disposals	0	0
Foreign exchange	0	0
Ending balance	33	33
Internally Generated Development Costs \| Accumulated Amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	33	14
Amortization	0	19
Disposals		0
Foreign exchange	(0)	0
Ending balance	33	33
Internally Generated Development Costs \| Net Book Value
Disclosure of detailed information about intangible assets [line items]
Beginning balance	0
Ending balance	0	0
Intellectual Properties \| Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	30,718	35,143
Impairments and disposals	(21,184)	(3,830)
Foreign exchange	1,435	(595)
Ending balance	10,969	30,718
Intellectual Properties \| Accumulated Amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	7,366	4,775
Amortization	1,895	2,666
Disposals		0
Foreign exchange	641	(75)
Ending balance	9,902	7,366
Intellectual Properties \| Net Book Value
Disclosure of detailed information about intangible assets [line items]
Beginning balance	23,352
Ending balance	1,067	23,352
Proprietary Processes \| Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	7,927	8,103
Impairments and disposals	(156)	(40)
Foreign exchange	552	(136)
Ending balance	8,323	7,927
Proprietary Processes \| Accumulated Amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	7,722	7,633
Amortization	53	216
Disposals		0
Foreign exchange	548	(127)
Ending balance	8,323	7,722
Proprietary Processes \| Net Book Value
Disclosure of detailed information about intangible assets [line items]
Beginning balance	205
Ending balance	0	205
Certifications \| Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	136	139
Impairments and disposals	0	0
Foreign exchange	10	(3)
Ending balance	146	136
Certifications \| Accumulated Amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	136	137
Amortization	0	2
Disposals		0
Foreign exchange	10	(3)
Ending balance	146	136
Certifications \| Net Book Value
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(0)
Ending balance	0	(0)
Customer List \| Cost
Disclosure of detailed information about intangible assets [line items]
Beginning balance	0	198
Impairments and disposals	0	(193)
Foreign exchange	0	(5)
Ending balance	0	0
Customer List \| Accumulated Amortization
Disclosure of detailed information about intangible assets [line items]
Beginning balance	0	132
Amortization	0	65
Disposals		(193)
Foreign exchange	0	(4)
Ending balance	0	0
Customer List \| Net Book Value
Disclosure of detailed information about intangible assets [line items]
Beginning balance	0
Ending balance	$ 0	$ 0

Intangibles Assets - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of detailed information about intangible assets [line items]
Impairment loss	$ 0	$ 11,161	$ 2,460
BioStrand [Member]
Disclosure of detailed information about intangible assets [line items]
Impairment loss	$ 21,200	11,200	$ 2,500
Impairment of intangible assets charge		$ 3,900

Goodwill - Schedule of Reconciliation of Changes in Goodwill Explanatory (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 7,687
Asset impairment	0	$ 11,161	$ 2,460
Goodwill	8,230	7,687
U Protein IPA Europe And Bio strand [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	7,687	19,171
Foreign exchange	543	(323)
Asset impairment		11,161
Goodwill	$ 8,230	$ 7,687	$ 19,171

Goodwill - Schedule of Tabular Form of Allocating Goodwill to Cash Generating Units (Details) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024
Disclosure In Tabular Form Of Allocating Goodwill To Cash Generating Units [Line Items]
Goodwill	$ 8,230	$ 7,687
Goodwill Including Preliminary Value	8,230	7,687
Oss [Member]
Disclosure In Tabular Form Of Allocating Goodwill To Cash Generating Units [Line Items]
Goodwill	3,272	3,056
Utrecht [Member]
Disclosure In Tabular Form Of Allocating Goodwill To Cash Generating Units [Line Items]
Goodwill	$ 4,958	$ 4,631

Goodwill - Schedule of Information for Individual Asset or Cash generating Unit (Details) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024
Oss [Member]
Disclosure of information for cash-generating units [line items]
Recoverable amount	$ 7,039	$ 6,723
Terminal growth rates	2.00%	2.50%
Discount rates	22.00%	22.00%
Utrecht [Member]
Disclosure of information for cash-generating units [line items]
Recoverable amount	$ 11,422	$ 12,737
Terminal growth rates	2.50%	2.50%
Discount rates	19.00%	19.00%
BioStrand [Member]
Disclosure of information for cash-generating units [line items]
Recoverable amount	$ 0	$ 14,611
Terminal growth rates	0.00%	2.50%
Discount rates	0.00%	45.00%

Goodwill - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of detailed information about intangible assets [line items]
Term for calculating profit marging for cash generating units	3 years
Impairment loss	$ 0	$ 11,161	$ 2,460
BioStrand [Member]
Disclosure of detailed information about intangible assets [line items]
Impairment loss	$ 21,200	$ 11,200	$ 2,500

Convertible Debentures - Additional Information (Details) - YA II PN, Ltd. - Convertible Debentures $ in Millions	Jul. 16, 2024 USD ($)
Convertible Debentures [Line Items]
Aggregate principal amount of convertible debentures agreed to sell and issue	$ 3.0
Percentage of purchase price to aggregate principal amount	95.00%
Trance One
Convertible Debentures [Line Items]
Aggregate principal amount of convertible debentures agreed to sell and issue	$ 2.0
Trance Two
Convertible Debentures [Line Items]
Aggregate principal amount of convertible debentures agreed to sell and issue	$ 1.0

Leases - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Presentation of Leases for Lessee [Line Items]
Cash outflow for leases	$ 1,600	$ 1,300	$ 1,300
Initial term of lease			5 years
Renewal option of additional term of lease			5 years
Utrecht
Presentation of Leases for Lessee [Line Items]
Right-of-use assets	200		$ 7,400
Oss
Presentation of Leases for Lessee [Line Items]
Right-of-use assets		$ 3,700
Initial term of lease		5 years
Victoria
Presentation of Leases for Lessee [Line Items]
Right-of-use assets	$ 600	$ 3,500
Initial term of lease	5 years	10 years
Victoria
Presentation of Leases for Lessee [Line Items]
Right-of-use assets		$ 3,500
Initial term of lease		10 years
BioStrand
Presentation of Leases for Lessee [Line Items]
Right-of-use assets	$ 70
Initial term of lease	5 years
BioStrand
Presentation of Leases for Lessee [Line Items]
Right-of-use assets	$ 70
Initial term of lease	5 years
BioStrand
Presentation of Leases for Lessee [Line Items]
Right-of-use assets	$ 67
Initial term of lease	5 years

Leases - Schedule of Future Minimum Lease Payments Related to Equipment under Finance Lease and Office Lease Obligation (Details) $ in Thousands	Apr. 30, 2025 CAD ($)
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	$ 16,634
Less: imputed interest	(3,231)
Total present value of minimum lease payments	13,403
Less: Current portion	(1,850)
Non-current portion	11,553
2026
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	2,695
2027
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	2,692
2028
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	2,685
2029
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	2,366
2030
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	1,682
More than 5 years
Disclosure Of Maturity Analysis Of Finance And Office Lease Payments [Line Items]
Total minimum lease payments	$ 4,514

Leases - Schedule of Disclosure in Tabular Form of Nature of Companies Leases (Detail)	12 Months Ended
	Apr. 30, 2025
Lab and office facilities
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Number of right of use assets leased	3
No. of leases with extension options	1
No. of leases with options to purchase	0
No. of leases with variable payments linked to an index	3
No. of leases with termination options	3
Automobile
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Number of right of use assets leased	4
No. of leases with extension options	0
No. of leases with options to purchase	0
No. of leases with variable payments linked to an index	4
No. of leases with termination options	4
Lab Equipment
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Number of right of use assets leased	1
Range of remaining term	4 years 9 months 18 days
No. of leases with extension options	0
No. of leases with options to purchase	1
No. of leases with variable payments linked to an index	1
No. of leases with termination options	1
Weighted average \| Lab and office facilities
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	6 years 7 months 6 days
Weighted average \| Automobile
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	3 years 8 months 12 days
Weighted average \| Lab Equipment
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	4 years 9 months 18 days
Bottom of Range \| Lab and office facilities
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	3 years 8 months 12 days
Bottom of Range \| Automobile
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	1 year 8 months 12 days
Top of Range \| Lab and office facilities
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	8 years 8 months 12 days
Top of Range \| Automobile
Disclosure In Tabular Form Of Nature Of Companies Leases [Line Items]
Range of remaining term	4 years 6 months

Leases - Schedule of Changes in the Value of the Right-of-Use Assets (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024
Cost
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	$ 15,309	$ 9,252
Additions	995	7,827
Disposals	(99)	(1,634)
Foreign exchange	838	(136)
Ending balance	17,043	15,309
Accumulated Depreciation
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	1,943	1,809
Depreciation	2,002	1,779
Disposals	(99)	(1,606)
Foreign exchange	165	(39)
Ending balance	4,011	1,943
Net Book Value
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	13,366
Ending balance	13,032	13,366
Building
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	13,313
Ending balance		13,313
Building \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	15,144	9,085
Additions	210	7,826
Disposals	0	(1,634)
Foreign exchange	820	(133)
Ending balance	16,174	15,144
Building \| Accumulated Depreciation
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	1,831	1,752
Depreciation	1,922	1,723
Disposals	0	(1,606)
Foreign exchange	158	(38)
Ending balance	3,911	1,831
Building \| Net Book Value
Disclosure of quantitative information about right-of-use assets [line items]
Ending balance	12,263
Automobile
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	53
Ending balance		53
Automobile \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	165	167
Additions	207	1
Disposals	(99)
Foreign exchange	18	(3)
Ending balance	291	165
Automobile \| Accumulated Depreciation
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	112	57
Depreciation	67	56
Disposals	(99)
Foreign exchange	7	(1)
Ending balance	87	112
Automobile \| Net Book Value
Disclosure of quantitative information about right-of-use assets [line items]
Ending balance	204
Lab Equipment \| Cost
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance		$ 0
Additions	578
Disposals	0
Foreign exchange	0
Ending balance	578
Lab Equipment \| Accumulated Depreciation
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation	13
Disposals	0
Foreign exchange	0
Ending balance	13
Lab Equipment \| Net Book Value
Disclosure of quantitative information about right-of-use assets [line items]
Ending balance	$ 565

Leases - Schedule of Disclosure in Tabular Form Of Expenses Relating to Payments not included (Detail) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Presentation of leases for lessee [abstract]
Leases of low value assets	$ 21	$ 7	$ 40
Variable lease payments	567	467	215
Measurement of the lease liability	$ 588	$ 474	$ 255

Share Capital - Additional Information (Details) $ / shares in Units, $ in Thousands, $ in Millions		12 Months Ended
	Feb. 23, 2024 USD ($)	Apr. 30, 2025 CAD ($) shares	Apr. 30, 2025 USD ($) shares	Apr. 30, 2024 CAD ($) shares	Apr. 30, 2023 CAD ($) shares	Apr. 30, 2023 CAD ($) $ / shares	Apr. 30, 2024 $ / shares shares
Disclosure Of Classes Of Share Capital [Line Items]
Share-based payments \| $		$ 445		$ 1,535	$ 1,943
Number of underwritten public offering shares \| shares				1,265,000
Number of shares exercise by underwriter of over allotment option \| shares				165,000
Public offering price for each common share \| $ / shares							$ 1
At The Market Equity Offering Facility
Disclosure Of Classes Of Share Capital [Line Items]
Number of common shares sold/issued \| shares			13,315,850				629,240
Proceeds from sale of common shares \| $		$ 12,200		$ 1,800
Share Capital \| Common Shares
Disclosure Of Classes Of Share Capital [Line Items]
Shares issued pursuant to option exercise, shares \| shares					263,537
Total gross proceeds from exercise of stock options \| $					$ 700
Shares issued pursuant to option exercise \| $					$ 800
Weighted average share price \| $ / shares						$ 4.5
Shares issued pursuant to conversion of convertible debentures, Number of Shares \| shares		5,893,768	5,893,768		309,877
Convertible debentures			$ 3.0		$ 1,300
Debt conversion principal debt amount			$ 3.0		$ 1,300	$ 1,300
Common Shares \| Top of Range \| At The Market Equity Offering Facility
Disclosure Of Classes Of Share Capital [Line Items]
Common stock aggregate gross sales price \| $	$ 60.0

Share Capital - Summary of Stock Option Awards (Details) - 12 months ended Apr. 30, 2025
$ / shares in Units, $ in Thousands

CAD ($)

yr

shares

$ / shares

CAD ($)

yr

shares

$ / shares

May 15, 2022 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[1]

May 15, 2022

Stock options granted | shares

^[1]

80,000

Exercisable price/option

^[1]

$ 5.79

Awarded to

^[1]

Employees

Share price on grant date

^[1]

$ 3.79

Dividend yield

^[1]

0.00%

Expected volatility

^[1]

77.00%

Risk- free rate

^[1]

2.73%

Expected life | yr

^[1]

5

Fair value | $

^[1]

$ 300

August 3, 2024 | Officers and employee

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

August 3, 2024

Stock options granted | shares

^[2]

799,767

Exercisable price/option

^[2],[3]

$ 0.86

Awarded to

^[2]

Officers and employees

Share price on grant date

^[2],[3]

$ 0.86

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 700

February 19, 2023 | Directors

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[4]

February 19, 2023

Stock options granted | shares

^[4]

29,060

Exercisable price/option

^[3],[4]

$ 4.1

Awarded to

^[4]

Directors

Share price on grant date

^[3],[4]

$ 4.1

Dividend yield

^[4]

0.00%

Expected volatility

^[4]

77.00%

Risk- free rate

^[4]

3.57%

Expected life | yr

^[4]

4

Fair value | $

^[4]

$ 100

February 19, 2023 | Officers and employee

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[1]

February 19, 2023

Stock options granted | shares

^[1]

609,452

Exercisable price/option

^[1],[3]

$ 4.1

Awarded to

^[1]

Officers and employees

Share price on grant date

^[1],[3]

$ 4.1

Dividend yield

^[1]

0.00%

Expected volatility

^[1]

77.00%

Risk- free rate

^[1]

3.57%

Expected life | yr

^[1]

5

Fair value | $

^[1]

$ 2,200

January 19, 2024 | Directors

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

January 19, 2024

Stock options granted | shares

^[2]

240,000

Exercisable price/option

^[2],[3]

$ 1.48

Awarded to

^[2]

Directors

Share price on grant date

^[2],[3]

$ 1.48

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.64%

Expected life | yr

^[2]

5

Fair value | $

^[2]

$ 400

January 4, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

January 4, 2023

Stock options granted | shares

^[2]

8,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 12

January 23, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

January 23, 2023(6

Stock options granted | shares

^[2]

8,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.60%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 12

March 1, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

March 1, 2023

Stock options granted | shares

^[2]

8,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 12

March 15, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

March 15, 2023

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

April 2, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

April 2, 2023

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

May 8, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

May 8, 2023

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

May 23, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

May 23, 2023

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

June 11, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

June 11, 2023

Stock options granted | shares

^[2]

8,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.60%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 12

August 8, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

August 8, 2023

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

November 13, 2023 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

November 13, 2023

Stock options granted | shares

^[2]

8,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 12

January 1, 2024 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

January 1, 2024

Stock options granted | shares

^[2]

12,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 18

February 1, 2024 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

February 1, 2024

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

February 19, 2024 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

February 19, 2024

Stock options granted | shares

^[2]

12,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 18

February 20, 2024 | Employees

Disclosure of terms and conditions of share-based payment arrangement [line items]

Grant date

^[2]

February 20, 2024

Stock options granted | shares

^[2]

4,000

Exercisable price/option

^[2],[3]

$ 1.47

Awarded to

^[2]

Employees

Share price on grant date

^[2],[3]

$ 1.47

Dividend yield

^[2]

0.00%

Expected volatility

^[2]

77.00%

Risk- free rate

^[2]

3.68%

Expected life | yr

^[2]

10

Fair value | $

^[2]

$ 6

[1]	Vesting conditions are as follows: one-third 6 months after grant date; one-third 12 months after grant date; and one-third 18 months after grant date.
[2]	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
[3]	Priced in U.S.$
[4]	Vesting conditions are as follows: one-quarter 3 months after grant date; one-quarter 6 months after grant date; one-quarter 9 months after grant date; and one-quarter 12 months after grant date.

Share Capital - Summary of Stock Option Awards (Parenthetical) (Details)	12 Months Ended
	Apr. 30, 2025
May 15, 2022 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-third 6 months after grant date; one-third 12 months after grant date; and one-third 18 months after grant date.
February 19, 2023 \| Officers And Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-third 6 months after grant date; one-third 12 months after grant date; and one-third 18 months after grant date.
February 19, 2023 \| Director [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-quarter 3 months after grant date; one-quarter 6 months after grant date; one-quarter 9 months after grant date; and one-quarter 12 months after grant date.
January 19, 2024 \| Director [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
January 4, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
January 23, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
March 1, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
March 15, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
April 2, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
May 8, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
May 23, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
June 11, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
August 8, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
November 13, 2023 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
January 1, 2024 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
February 1, 2024 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
February 19, 2024 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
February 20, 2024 \| Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date
August 3, 2024 \| Officers And Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement	Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date

Share Capital - Summary of Changes in Stock Option (Details)	12 Months Ended
	Apr. 30, 2025 shares $ / shares	Apr. 30, 2024 shares $ / shares	Apr. 30, 2023 shares $ / shares
Disclosure of classes of share capital [abstract]
Number of options, Outstanding, Beginning balance \| shares	1,521,367	1,884,428
Number of options, Granted \| shares	799,767	332,000
Number of option, Expired \| shares	(159,021)	(577,335)
Number of options, Forfeited \| shares	(234,188)	(117,726)
Number of options, Outstanding \| shares	1,927,925	1,521,367	1,884,428
Number of options, Unvested \| shares	(661,194)
Number of options, Exercisable \| shares	1,266,731
Weighted average exercise price outstanding, Beginning balance \| $ / shares	$ 7.17	$ 8.03
Weighted average exercise price, Granted \| $ / shares	1.22	2.02
Weighted average exercise price, Expired \| $ / shares	3.8	7.15
Weighted average exercise price, Forfeited \| $ / shares	1.1	4.15
Weighted average exercise price outstanding, Ending balance \| $ / shares	5.69	$ 7.17	$ 8.03
Weighted average exercise price, Unvested \| $ / shares	1.3
Weighted average exercise price, Exercisable \| $ / shares	$ 7.98
Weighted average life remaining (years)	4 years 5 months 12 days	3 years 5 months 19 days	3 years 3 months 7 days
Weighted average life remaining (years), Unvested	9 years 7 days
Weighted average life remaining (years), Exercisable	2 years 21 days

Share Capital - Summary of Options Outstanding (Details)

12 Months Ended

Apr. 30, 2025

shares

$ / shares

Apr. 30, 2025

shares

$ / shares

Apr. 30, 2024

shares

Apr. 30, 2023

shares

Disclosure Of Classes Of Share Capital [Line Items]

Exercise price | $ / shares

$ 5.69

Remaining life (year)

4 years 5 months 12 days

Options outstanding

1,927,925

1,521,367

1,884,428

Unvested

661,194

Vested

1,266,731

Option Expiry Date September 1, 2025

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

September 1, 2025

Exercise price | $ / shares

$ 8.5

Remaining life (year)

4 months 2 days

Options outstanding

220,000

Unvested

0

Vested

220,000

Option Expiry Date January 6, 2026

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

January 6, 2026

Exercise price | $ / shares

$ 20.3

Remaining life (year)

8 months 8 days

Options outstanding

138,000

Unvested

0

Vested

138,000

Option Expiry Date January 2, 2026

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

January 2, 2026

Exercise price | (per share)

$ 6.89

$ 7.72

Remaining life (year)

8 months 4 days

Options outstanding

5,650

Unvested

0

Vested

5,650

Option Expiry Date January 7, 2027

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

January 7, 2027

Exercise price | $ / shares

$ 7.94

Remaining life (year)

1 year 8 months 8 days

Options outstanding

235,000

Unvested

0

Vested

235,000

Option Expiry Date January 13, 2027

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

January 13, 2027

Exercise price | $ / shares

$ 8.3

Remaining life (year)

1 year 8 months 15 days

Options outstanding

16,000

Unvested

0

Vested

16,000

Option Expiry Date May 15, 2027

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

May 15, 2027

Exercise price | $ / shares

$ 5.79

Remaining life (year)

2 years 14 days

Options outstanding

64,000

Unvested

0

Vested

64,000

Option Expiry Date February 19, 2027

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[1]

February 19, 2027

Exercise price | $ / shares

^[1]

$ 5.81

Remaining life (year)

^[1]

1 year 9 months 21 days

Options outstanding

^[1]

7,265

Unvested

^[1]

0

Vested

^[1]

7,265

Option Expiry Date February 19, 2028

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[1]

February 19, 2028

Exercise price | $ / shares

^[1]

$ 5.81

Remaining life (year)

^[1]

2 years 9 months 21 days

Options outstanding

^[1]

475,452

Unvested

^[1]

0

Vested

^[1]

475,452

Option Expiry Date January 19, 2034

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[2]

January 19, 2034

Exercise price | (per share)

$ 2.1

^[2]

$ 1.48

Remaining life (year)

^[2]

3 years 8 months 23 days

Options outstanding

^[2]

95,558

Unvested

^[2]

21,111

Vested

^[2]

74,447

Option Expiry Date January 4, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

January 4, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

7 years 8 months 8 days

Options outstanding

^[3]

8,000

Unvested

^[3]

3,667

Vested

^[3]

4,333

Option Expiry Date January 23, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

January 23, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

7 years 8 months 26 days

Options outstanding

^[3]

8,000

Unvested

^[3]

3,667

Vested

^[3]

4,333

Option Expiry Date March 1, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

March 1, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

7 years 10 months 2 days

Options outstanding

^[3]

8,000

Unvested

^[3]

4,000

Vested

^[3]

4,000

Option Expiry Date April 2, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

April 2, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

7 years 11 months 4 days

Options outstanding

^[3]

4,000

Unvested

^[3]

2,083

Vested

^[3]

1,917

Option Expiry Date May 8, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

May 8, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 10 days

Options outstanding

^[3]

4,000

Unvested

^[3]

2,167

Vested

^[3]

1,833

Option Expiry Date June 11, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

June 11, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 1 month 13 days

Options outstanding

^[3]

8,000

Unvested

^[3]

4,500

Vested

^[3]

3,500

Option Expiry Date August 8, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

August 8, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 3 months 10 days

Options outstanding

^[3]

4,000

Unvested

^[3]

2,417

Vested

^[3]

1,583

Option Expiry Date November 13, 2033

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

November 13, 2033

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 6 months 18 days

Options outstanding

^[3]

8,000

Unvested

^[3]

5,333

Vested

^[3]

2,667

Option Expiry Date January 1, 2034

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

January 1, 2034

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 8 months 4 days

Options outstanding

^[3]

12,000

Unvested

^[3]

8,500

Vested

^[3]

3,500

Option Expiry Date February 1, 2034

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

February 1, 2034

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 9 months 3 days

Options outstanding

^[3]

4,000

Unvested

^[3]

2,917

Vested

^[3]

1,083

Option Expiry Date February 19, 2034

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

February 19, 2034

Exercise price | $ / shares

^[3]

$ 2.08

Remaining life (year)

^[3]

8 years 9 months 21 days

Options outstanding

^[3]

8,000

Unvested

^[3]

5,833

Vested

^[3]

2,167

Option Expiry Date August 2, 2034

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[3]

August 2, 2034(

Exercise price | $ / shares

^[3]

$ 1.22

Remaining life (year)

^[3]

9 years 3 months 3 days

Options outstanding

^[3]

595,000

Unvested

^[3]

595,000

Vested

^[3]

0

[1]	Exercise price of U.S.$4.10. The figure in the table above is translated at the April 30, 2025 rate.
[2]	Exercise price of U.S.$1.48. The figure in the table above is translated at the April 30, 2025 rate.
[3]	Exercise price of U.S.$1.47. The figure in the table above is translated at the April 30, 2025 rate.

Share Capital - Summary of Options Outstanding (Parenthetical) (Details) - Apr. 30, 2025

$ / shares

Disclosure of classes of share capital [line items]

Exercise price

$ 5.69

Option Expiry Date May 9, 2026

Disclosure of classes of share capital [line items]

Exercise price | (per share)

6.89

$ 7.72

Option 7 and 8

Disclosure of classes of share capital [line items]

Exercise price

4.1

Option Expiry Date January 19, 2034

Disclosure of classes of share capital [line items]

Exercise price | (per share)

$ 2.1

^[1]

1.48

Option 10 to 23

Disclosure of classes of share capital [line items]

Exercise price

$ 1.47

[1]	Exercise price of U.S.$1.48. The figure in the table above is translated at the April 30, 2025 rate.

Share Capital - Summary of Changes in Warrants and Finder's Warrants (Details) - Finder's Warrants	12 Months Ended
	Apr. 30, 2025 shares $ / shares	Apr. 30, 2024 shares $ / shares	Apr. 30, 2023 shares $ / shares
Disclosure Of Classes Of Share Capital [Line Items]
Balance, Number of warrants \| shares	186,761	130,111
Issued, Number of warrants \| shares		56,650
Balance, Number of warrants \| shares	186,761	186,761	130,111
Balance, Weighted average exercise price \| $ / shares	$ 16.44	$ 22.77
Issued, Weighted average exercise price \| $ / shares		1.37
Balance, Weighted average exercise price \| $ / shares	$ 17.02	$ 16.44	$ 22.77
Weighted average life remaining, Issued (years)		4 years 7 months 9 days
Weighted average life remaining (years)	1 year 7 months 13 days	2 years 7 months 13 days	2 years 9 months 7 days

Share Capital - Details of Warrants and Finder's Warrants Outstanding (Details) - Finder's Warrants

12 Months Ended

Apr. 30, 2025

shares

$ / shares

Apr. 30, 2024

shares

Apr. 30, 2023

shares

Disclosure Of Classes Of Share Capital [Line Items]

Warrants outstanding

186,761

130,111

Range One

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[1]

Feb. 03, 2026

Exercise price $ | $ / shares

^[1]

$ 23.81

Remaining life (year)

^[1]

9 months 3 days

Warrants outstanding

^[1]

130,111

Range Two

Disclosure Of Classes Of Share Capital [Line Items]

Expiry Date

^[2]

Dec. 08, 2028

Exercise price $ | $ / shares

^[2]

$ 1.42

Remaining life (year)

^[2]

3 years 7 months 9 days

Warrants outstanding

^[2]

56,650

[1]

Exercise price of U.S.$16.81. The figure in the table above is translated at the April 30, 2025 rate.

[2]

Exercise price of U.S.$1.00. The figure in the table above is translated at the April 30, 2025 rate.

e)

Restricted Stock Units

The following table summarizes the activity related to the Company's RSUs for the year ended April 30, 2025. For purposes of this table, vested RSUs represent the shares for which the service condition had been fulfilled as of April 30, 2025:


	Number of Restricted Stock Units #			Weighted average grant date fair value $
Balance, April 30, 2024		—			—
Granted		46,000			0.42
Balance, April 30, 2025 (outstanding)		46,000			0.42
Unvested		(39,771	)		0.42
Vested and outstanding, April 30, 2025		6,229			0.42

Share Capital - Details of Warrants and Finder's Warrants Outstanding (Parenthetical) (Details) - Finder's Warrants	12 Months Ended
	Apr. 30, 2025 $ / shares
Range One
Disclosure Of Classes Of Share Capital [Line Items]
Warrant exercisable price	$ 16.81
Range Two
Disclosure Of Classes Of Share Capital [Line Items]
Warrant exercisable price	$ 1

Share Capital - Summarizes Activity Related to RSUs (Details)	12 Months Ended
	Apr. 30, 2025 shares $ / shares	Apr. 30, 2024 shares $ / shares	Apr. 30, 2023 shares $ / shares
Disclosure of classes of share capital [line items]
Number of options, Outstanding, Beginning balance	1,521,367	1,884,428
Number of options, Granted	799,767	332,000
Number of options, Outstanding	1,927,925	1,521,367	1,884,428
Number of options, Unvested	(661,194)
Number of options, Exercisable	1,266,731
Weighted average exercise price outstanding, Beginning balance \| $ / shares	$ 7.17	$ 8.03
Weighted average exercise price, Granted \| $ / shares	1.22	2.02
Weighted average exercise price outstanding, Ending balance \| $ / shares	5.69	$ 7.17	$ 8.03
Weighted average exercise price, Unvested \| $ / shares	$ 1.3
Weighted average life remaining (years)	4 years 5 months 12 days	3 years 5 months 19 days	3 years 3 months 7 days
Weighted average life remaining (years), Unvested	9 years 7 days
Weighted average life remaining (years), Exercisable	2 years 21 days
Restricted Stock Units
Disclosure of classes of share capital [line items]
Number of options, Outstanding, Beginning balance	0
Number of options, Granted	46,000
Number of options, Outstanding	46,000	0
Number of options, Unvested	(39,771)
Number of Share Options Vested and Outstanding	6,229
Weighted average exercise price outstanding, Beginning balance \| $ / shares	$ 0
Weighted average exercise price, Granted \| $ / shares	0.42
Weighted average exercise price outstanding, Ending balance \| $ / shares	0.42	$ 0
Weighted average exercise price, Unvested \| $ / shares	0.42
Weighted average exercise price, Vested and outstanding \| $ / shares	$ 0.42

Employee Remuneration - Summary of Expenses Recognized for Employee Benefits (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of employee benefits expenses [abstract]
Wages, salaries	$ 10,069	$ 10,733	$ 10,433
Employee benefits	947	938	926
Payroll taxes	772	774	939
Severance	0	60	194
Share-based expense	445	1,535	1,943
Total employee benefits expense	$ 12,233	$ 14,040	$ 14,435

Related Party Transactions - Schedule of Compensation For Key Management (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of transactions between related parties [abstract]
Salaries and other short-term benefits	$ 3,828	$ 2,454	$ 2,632
Severance (included in salaries)	0	60	183
Share-based expense expense	386	928	986
Director compensation (included in salaries)	275	343	335
Related party transaction, due from (to) related party	$ 4,489	$ 3,785	$ 4,136

Related Party Transactions - Additional Information (Details) - CAD ($) $ in Millions	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Related party transactions [abstract]
Accrued liabilities related parties current	$ 0.0	$ 0.3	$ 0.9

Capital Management - Additional Information (Details) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure of objectives, policies and processes for managing capital [line items]
Shareholders Equity	$ 23,626	$ 35,678	$ 58,511
Capital Management
Disclosure of objectives, policies and processes for managing capital [line items]
Shareholders Equity	$ 23,600

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Financial Instruments - Schedule of Details of Amounts Receivable and Allowances for Credit Losses (Details) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Allowances For Doubtful Accounts [Abstract]
Amounts receivable, gross	$ 4,165	$ 3,819	$ 3,280
Allowance for credit losses	(50)	(29)	(33)
Amounts receivable, net	$ 4,115	$ 3,790	$ 3,247

Financial Instruments - Additional Information (Details)	Apr. 30, 2024 CAD ($)
USD
Disclosure Of Financial Instruments [Line Items]
Foreign currency exchange rate	1.3812
Euro
Disclosure Of Financial Instruments [Line Items]
Foreign currency exchange rate	1.5687

Financial Instruments - Schedule of Assets and Liabilities (Details) € in Thousands, $ in Thousands, $ in Thousands	Apr. 30, 2025 CAD ($)	Apr. 30, 2025 EUR (€)	Apr. 30, 2025 USD ($)	Apr. 30, 2024 CAD ($)	Apr. 30, 2023 CAD ($)	Apr. 30, 2022 CAD ($)
Disclosure Of Financial Instruments [Line Items]
Cash	$ 10,791			$ 3,545	$ 8,366	$ 30,047
Total assets	44,441			59,988
Liabilities	$ (20,815)			$ (24,310)
Currency Risk
Disclosure Of Financial Instruments [Line Items]
Cash		€ 1,237	$ 5,207
Amounts receivable		1,993	732
Total assets		3,230	5,939
Accounts payable and accrued liabilities		(1,819)	(1,872)
Deferred acquisition payments		(193)	0
Leases		(6,315)	0
Liabilities		(8,327)	(1,872)
Net		€ (5,097)	$ 4,067

Financial Instruments - Schedule of Contractual Cash Flow Requirements (Details) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024
Disclosure Of Financial Instruments [Line Items]
Total liabilities	$ 20,815	$ 24,310
Liquidity Risk
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	5,283
Leases	16,634
Total liabilities	21,917
Liquidity Risk \| Not Later Than One Year
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	5,283
Leases	2,695
Total liabilities	7,978
Liquidity Risk \| Later Than One Year and Not Later Than Two Years
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	0
Leases	2,692
Total liabilities	2,692
Liquidity Risk \| Later Than Two Years and Not Later Than Five Years
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	0
Leases	6,733
Total liabilities	6,733
Liquidity Risk \| More than 5 years
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	0
Leases	4,514
Total liabilities	$ 4,514

Inventories - Summary of Detailed Information About Inventories (Detail) - CAD ($) $ in Thousands	Apr. 30, 2025	Apr. 30, 2024
Classes of current inventories [abstract]
Supplies and parts	$ 1,714	$ 1,734
Antibodies	194	190
Work in process	187	215
Inventories	$ 2,095	$ 2,139

Commitments - Additional Information (Details) € in Millions	12 Months Ended
	Apr. 30, 2025 EUR (€)
Commitments [Line Items]
Minimum contingent earnout payment	€ 12.0
BioStrand [Member]
Commitments [Line Items]
Percentage of contingent earnout payment based on EBITDA	20.00%
Unpaid commitment related to earnout	€ 12.0

Grant and Subsidy Income - Additional Information (Details) - EUR (€) € in Millions	3 Months Ended	12 Months Ended
	Jul. 31, 2022	Apr. 30, 2025	Apr. 30, 2024	May 31, 2022
Grant And Subsidy Income [Abstract]
Grant awarded				€ 0.5
Proceeds from grants	€ 0.2
Grant income		€ 0.1	€ 0.2

Segmented Information and Economic Dependence - Summary of Geographical Segments (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Geographical Areas [Line Items]
Revenues	$ 24,520	$ 24,518	$ 20,665
Non-current assets	25,687	48,501	61,021
Net income (loss)	(30,234)	(26,115)	(26,560)
Interest and accretion	959	854	396
Amortization and depreciation	5,119	5,735	6,685
United States of America
Disclosure Of Geographical Areas [Line Items]
Revenues	12,614	12,556	9,365
Europe
Disclosure Of Geographical Areas [Line Items]
Revenues	10,178	10,867	9,450
Canada
Disclosure Of Geographical Areas [Line Items]
Revenues	234	389	618
Australia
Disclosure Of Geographical Areas [Line Items]
Revenues	896	482	630
North America
Disclosure Of Geographical Areas [Line Items]
Non-current assets	4,167	4,138	1,025
Net income (loss)	699	(449)	(12,601)
Interest and accretion	223	231	19
Amortization and depreciation	672	687	720
North America \| Corporate
Disclosure Of Geographical Areas [Line Items]
Non-current assets	80	80	89
Net income (loss)	(8,142)	(7,846)	(8,422)
Interest and accretion	39	4	39
Amortization and depreciation	5	11	14
Belgium
Disclosure Of Geographical Areas [Line Items]
Non-current assets	268	22,261	40,406
Net income (loss)	(23,908)	(19,009)	(7,024)
Interest and accretion	0	0	20
Amortization and depreciation	1,612	2,422	2,543
Netherlands
Disclosure Of Geographical Areas [Line Items]
Non-current assets	21,172	22,022	19,501
Net income (loss)	1,117	1,189	1,487
Interest and accretion	697	619	318
Amortization and depreciation	2,830	2,615	3,408
Other
Disclosure Of Geographical Areas [Line Items]
Revenues	$ 598	$ 224	$ 602

Segmented Information and Economic Dependence - Summary of Revenues Allocated According to Revenue Types (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Geographical Areas [Line Items]
Revenues	$ 24,520	$ 24,518	$ 20,665
Project Revenue
Disclosure Of Geographical Areas [Line Items]
Revenues	22,175	22,235	18,677
Product Sales Revenue
Disclosure Of Geographical Areas [Line Items]
Revenues	2,107	2,035	1,747
Cryo Storage Revenue
Disclosure Of Geographical Areas [Line Items]
Revenues	$ 238	$ 248	$ 241

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_102&doctype=Standard
-URIDate 2024-03-27

+ Details

Supplemental Cash Flow Information - Summary of Non-cash Investing and Financing Transactions (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Statement of cash flows [abstract]
Acquisition of building and equipment by lease	$ 995	$ 7,826	$ 7,593
Settlement of convertible debentures	$ 4,242	$ 0	$ 1,315

Supplemental Cash Flow Information - Summary of Changes in Liabilities Arose From Financing Activities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance		$ 7,916	$ 4,004
Cash Flows	$ (1,577)	(1,485)	(1,929)
Non-cash changes, Acquisition	5,238	7,593	7,593
Non-cash changes, Debt forgiven/ Settlement/ Disposal	(4,341)	(294)	(1,315)
Non-cash changes, Accretion	10	19	30
Non-cash changes, Foreign exchange movements and change in estimates			(467)
Ending balance			7,916
Deferred Acquisition Payments
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance		649	1,237
Cash Flows	0	(146)	(592)
Non-cash changes, Acquisition	0	0	0
Non-cash changes, Debt forgiven/ Settlement/ Disposal	0	(294)	0
Non-cash changes, Accretion	10	19	27
Non-cash changes, Foreign exchange movements and change in estimates			(23)
Ending balance			649
Convertible Debentures
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance	0	0	1,312
Cash Flows	0		0
Non-cash changes, Acquisition	4,242		0
Non-cash changes, Debt forgiven/ Settlement/ Disposal	(4,242)		(1,315)
Non-cash changes, Accretion	0		3
Non-cash changes, Foreign exchange movements and change in estimates	0		0
Ending balance	0	0	0
Leases
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance	13,681	7,267	1,455
Cash Flows	(1,577)	(1,339)	(1,337)
Non-cash changes, Acquisition	996	7,593	7,593
Non-cash changes, Debt forgiven/ Settlement/ Disposal	(99)	0	0
Non-cash changes, Accretion	0	0	0
Non-cash changes, Foreign exchange movements and change in estimates	402	160	(444)
Ending balance	$ 13,403	$ 13,681	$ 7,267

Income Taxes - Additional Information (Details)	12 Months Ended
Income Taxes - Additional Information (Details)	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Income Taxes [Abstract]
Applicable tax rate	27.00%	27.00%	27.00%

Income Taxes - Summary of Differences and Related Tax Rate (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Income Taxes [Abstract]
Loss before income taxes	$ (34,267)	$ (28,703)	$ (27,752)
Income taxes on earnings before income taxes, at above statutory rate	(9,252)	(7,750)	(7,493)
Nondeductible expenses	8	1	8
Estimated SR&ED ITC	(181)	(166)	(198)
Effects of tax rate change and foreign exchange	0	0	209
Defered tax liability	(3,871)	(1,062)	0
Tax rate difference by jurisdiction	479	588	948
Tax benefits not recognized	3,183	3,072	4,885
Impairment loss	5,720	2,790	602
Prior year tax assessments and adjustments	(197)	(183)	(420)
Other	78	122	267
Income taxes	(4,033)	(2,588)	(1,192)
Current income taxes	185	352	(242)
Deferred income taxes	$ (4,218)	$ (2,940)	$ (950)

Income Taxes - Summary of Temporary Differences to Deferred Income Tax Assets and Liabilities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024	Apr. 30, 2023
Disclosure Of Income Taxes [Abstract]
Other tax pools		$ 0	$ 31
Capital assets net of lease liabilities	$ 217	16	(61)
Inventory and Intangible assets	(467)	(4,084)	(7,631)
Recognized deferred income tax liabilities, Total	(250)	(4,068)	(7,661)
Non-capital losses carried forward (expire from 2027 to 2040)	12,945	13,424	9,930
Capital losses carried forward	295	295	295
Capital assets net of lease liabilities			20
Financing costs	199	402	746
Less: unrecognized deffered income tax asset	$ (13,439)	$ (14,121)	$ (10,991)

Income Taxes - Summary of Temporary Differences to Deferred Income Tax Assets and Liabilities (Parenthetical) (Details)	12 Months Ended
	Apr. 30, 2025
Bottom of Range
Disclosure Of Income Taxes [Line Items]
Non capital loss carried forward expiration period	2027
Top of Range
Disclosure Of Income Taxes [Line Items]
Non capital loss carried forward expiration period	2040

Subsequent Events - Additional Information (Details) - At The Market Equity Offering Facility - CAD ($) $ in Millions	12 Months Ended
	Apr. 30, 2025	Apr. 30, 2024
Disclosure of non-adjusting events after reporting period [line items]
Number of common shares sold	13,315,850	629,240
Proceeds from sale of common shares	$ 12.2	$ 1.8