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Property and Equipment
 9 Months Ended
Jan. 31, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment is recorded at cost and primarily consists of laboratory equipment, furniture and fixtures, and computer equipment and software. Depreciation and amortization is calculated on a straight-line basis over the estimated useful lives of the various assets ranging from three to nine years. Property and equipment consisted of the following (table in thousands):
January 31,
2021		April 30,
2020
Furniture and fixtures$242 $180 
Computer equipment and software1,888 1,209 
Laboratory equipment6,075 4,818 
Assets in progress984 554 
Leasehold improvements4 4 
Total property and equipment9,193 6,765 
Less: Accumulated depreciation(3,653)(2,772)
Property and equipment, net$5,540 $3,993 
Depreciation and amortization expense, excluding expense recorded under the finance lease, was $279,000 and $184,000 for the three months ended January 31, 2021 and 2020, respectively. Depreciation and amortization expense, excluding expense recorded under the finance lease, was $757,000 and $491,000 for the nine months ended January 31, 2021 and 2020, respectively.

As of January 31, 2021 and April 30, 2020, property, plant and equipment included gross assets held under finance leases of $343,000. Related depreciation expense was approximately $18,000 and $35,000 for the three months ended January 31, 2021 and 2020, respectively, and $124,000 and $88,000 for the nine months ended January 31, 2021 and 2020, respectively.

Finance Lease
 
In November 2014, the Company entered into a finance lease for laboratory equipment. The lease had costs of approximately $149,000, at inception, through November 2019. The final lease payment under this finance lease of $2,000 was paid during the three months ended January 31, 2020. As of January 31, 2021 the asset has been fully depreciated and book value is nil.

In July 2018, the Company entered into a second finance lease for laboratory equipment. The lease had costs of approximately $266,000, inclusive of interest and taxes, with a monthly payment of approximately $11,000. Although the lease was originally due to mature in July 2020, the Company decided to pay the outstanding balance on February 1, 2019. As a result, the entire outstanding balance of the lease was nil for periods subsequent to that date. During the quarter ended October 31, 2019, the Company traded in this asset and received a $160,000 reduction in the purchase price of two newly acquired assets. The net book value of the asset traded in at the time of trade in was $108,000, resulting in a gain on the disposal of the asset of $53,000, which was included as an offset in the other expense line within the Company's consolidated statement of operations for the nine months ended January 31, 2020.
In December 2019, the Company entered into a finance lease for laboratory equipment. The lease had costs of approximately $231,000, at inception, through November 2020. The lease term expired December 2020. Depreciation and amortization expense related to this finance lease was $18,000 and $35,000 for the three months ended January 31, 2021 and 2020, respectively, and $124,000 and $35,000 for the nine months ended January 31, 2021 and 2020, respectively.