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Stock-based Payments (Tables) | 12 Months Ended
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Apr. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of allocation of share based compensation expense | Stock-based compensation costs were recorded as follows (in thousands):
| Year Ended April 30,
| 2024 |  | 2023
General and administrative | $ | 706 |  |  | $ | 505 |
Sales and marketing | 168 |  |  | 192 |
Research and development | 21 |  |  | 19 |
TOS cost of sales | 223 |  |  | 148 |
Total stock-based compensation expense | $ | 1,118 |  |  | $ | 864 |
Summary of valuation assumptions for stock options | Black-Scholes weighted average assumptions used to calculate the fair value of options granted during the years ended April 30, 2024 and 2023 were as follows:
| Year Ended April 30,
| 2024 |  | 2023
Expected term in years | 6 |  | 6
Risk-free interest rates | 4.0% - 4.5% |  | 2.9% - 3.9%
Volatility | 63% - 64% |  | 61% - 63%
Dividend yield | 0% |  | 0%
Summary of stock option activity | The Company’s stock options activity and related information as of and for the years ended April 30, 2024 and 2023 is as follows:
| Directors and Employees |  | Non- Employees |  | Total |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Outstanding, May 1, 2023 | 1,739,336 |  |  | 36,331 |  |  | 1,775,667 |  |  | $ | 4.80 |  |  | 4.6 |  | $ | 2,683,000 |
Granted | 444,730 |  |  | — |  |  | 444,730 |  |  | 6.08 |  |  | 9.5 |  | $ | — |
Exercised | (155,449) |  |  | — |  |  | (155,449) |  |  | 2.31 |  |  |  |  |
Canceled | (50,535) |  |  | — |  |  | (50,535) |  |  | 4.82 |  |  |  |  |
Forfeited | (40,750) |  |  | — |  |  | (40,750) |  |  | 6.21 |  |  |  |  |
Expired | (54,166) |  |  | — |  |  | (54,166) |  |  | 12.78 |  |  |  |  |
Outstanding, April 30, 2024 | 1,883,166 |  |  | 36,331 |  |  | 1,919,497 |  |  | 5.04 |  |  | 5.2 |  | $ | 2,172,000 |
Vested and expected to vest as of April 30, 2024 | 1,883,166 |  |  | 36,331 |  |  | 1,919,497 |  |  | 5.04 |  |  | 5.2 |  | $ | 2,172,000 |
Exercisable as of April 30, 2024 | 1,481,145 |  |  | 3,750 |  |  | 1,484,895 |  |  | 4.65 |  |  | 4.2 |  | $ | 2,172,000 |
| Directors and Employees |  | Non- Employees |  | Total |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Outstanding, May 1, 2022 | 1,617,324 |  |  | 40,915 |  |  | 1,658,239 |  |  | 4.51 |  | 4.9 |  | $ | 6,131,000 |
Granted | 186,720 |  |  | — |  |  | 186,720 |  |  | 7.22 |  |  | 9.4 |  | — |
Exercised | (36,209) |  |  | — |  |  | (36,209) |  |  | 3.21 |  |  |  |  |
Canceled | (13,874) |  |  | — |  |  | (13,874) |  |  | 3.93 |  |  |  |  |
Forfeited | (14,625) |  |  | — |  |  | (14,625) |  |  | 7.94 |  |  |  |  |
Expired | — |  |  | (4,584) |  |  | (4,584) |  |  | 5.40 |  |  |  |  |
Outstanding, April 30, 2023 | 1,739,336 |  |  | 36,331 |  |  | 1,775,667 |  |  | 4.80 |  |  | 4.6 |  | $ | 2,683,000 |
Vested and expected to vest as of April 30, 2023 | 1,739,336 |  |  | 36,331 |  |  | 1,775,667 |  |  | 4.80 |  |  | 4.6 |  | $ | 2,683,000 |
Exercisable as of April 30, 2023 | 1,436,932 |  |  | 1,875 |  |  | 1,438,807 |  |  | 4.35 |  |  | 3.8 |  | $ | 2,681,000 |

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