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Property and Equipment | 12 Months Ended
--- | ---
Apr. 30, 2025
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment consisted of the following (in thousands):
| April 30,
| 2025 |  | 2024
Furniture and fixtures | $ | 246 |  |  | $ | 246 |
Computer equipment and software | 2,165 |  |  | 2,152 |
Laboratory equipment | 11,323 |  |  | 11,506 |
Capitalized software development costs | 1,888 |  |  | 1,888 |
Assets in progress | 124 |  |  | 3 |
Leasehold improvements | 317 |  |  | 317 |
Total property and equipment | 16,063 |  |  | 16,112 |
Less: Accumulated depreciation and amortization | (11,688) |  |  | (10,391) |
Property and equipment, net | $ | 4,375 |  |  | $ | 5,721 |
Depreciation and amortization expense was $1.6 million and $1.9 million for the years ended April 30, 2025 and 2024, respectively. Depreciation and amortization expense, excluding expense recorded under finance leases, was $1.5 million and $1.7 million for the years ended April 30, 2025 and 2024, respectively. As of April 30, 2025 and 2024, property, plant and equipment included gross assets held under finance leases of $1.0 million, respectively. Related depreciation expense for these assets was approximately $150,000 and $146,000 for the years ended April 30, 2025 and 2024, respectively. During the year ended April 30, 2025, the Company disposed of lab equipment with a cost of $636,000 and accumulated depreciation of $343,000 as of the disposal date, resulting in a loss on disposal of equipment recorded of $293,000. During the year ended April 30, 2024, the Company disposed of lab equipment with a cost of $542,000 and accumulated depreciation of $107,000 as of the disposal date, resulting in a loss on disposal of equipment recorded of $435,000. Finance Lease During fiscal 2022, the Company recognized a finance lease for laboratory equipment. This equipment was obtained as the result of a laboratory supplies purchase commitment with costs of approximately $370,000 at inception through December 2025. Cash payments for this lease are in the form of consideration for purchasing lab supplies under a purchase commitment agreement. The present value of the minimum future obligations of $370,000 was calculated based on an interest rate of 3.25%. Depreciation and amortization expense related to this finance lease was $77,000 and $75,000 for the years ended April 30, 2025 and 2024, respectively. Interest on the related finance lease liability was approximately $3,000 and $6,000 for the years ended April 30, 2025 and 2024, respectively. During fiscal 2023, the Company recognized a finance lease for laboratory equipment. This equipment was obtained as the result of a laboratory supplies purchase commitment with costs of approximately $368,000 at inception through May 2027. Cash payments for this lease are in the form of consideration for purchasing lab supplies under a purchase commitment agreement. The present value of the minimum future obligations of $368,000 was calculated based on an interest rate of 3.5%. Depreciation and amortization expense related to this finance lease was $73,000 and $71,000 for the years ended April 30, 2025 and 2024, respectively. Interest on the related finance lease liability was approximately $7,000 and $9,000 for the years ended April 30, 2025 and 2024, respectively. Future minimum lease payments due each fiscal year as follows (in thousands):
| 2026 | $ | 140 |
| 2027 | 80 |
| 2028 | 7 |
| Thereafter | — |
| Total undiscounted liabilities | 227 |
| Less: Imputed interest | (7) |
| Present value of minimum lease payments | $ | 220 |
| Current portion financing lease | 135 |
| Long-term portion financing lease | 85 |
As noted above, the Company's financing leases are for laboratory equipment. The associated liabilities for these leases are classified on the consolidated balance sheets within other current and other non-current liabilities.

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