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REVENUES

12 Months Ended

Apr. 30, 2024

(7) REVENUES

Land sale revenues. Land sale revenues are sales of developed residential land, developed commercial land and undeveloped land.

Home sale revenues. Home sale revenues are sales of homes constructed and sold by the Company.

Other revenues. Other revenues consist of (in thousands):


	Year Ended April 30,
	2024		2023
Sale of investment assets	$	5,701	$	—
Oil and gas royalties		—		146
Landscaping revenues		1,186		585
Miscellaneous other revenues		470		580
Total	$	7,357	$	1,311

Sale of investment assets for 2024 consist of the sale of two buildings leased to commercial tenants.

Oil and gas royalties consist of amounts received from the lease of minerals and mineral rights in and under approximately 147 surface acres of land in Brighton, Colorado. In 2023, the Company sold such minerals and mineral rights. The Company owns certain minerals and mineral rights in and under approximately 55,000 surface acres of land in Sandoval County, New Mexico.

Landscaping revenues consist of landscaping services provided by the Company primarily to homebuilders.

Miscellaneous other revenues for 2024 primarily consist of extension fees for purchase contracts and residential rental revenues. Miscellaneous other revenues for 2023 primarily consist of extension fees for purchase contracts, forfeited deposits from land sale contracts and residential rental revenues.

Major customers. A substantial majority of the land sale revenues were received from four customers during 2024 and substantially all of the land sale revenues were received from four customers during 2023. Other than receivables for immaterial amounts (if any), there were no outstanding receivables from these customers as of April 30, 2024 or April 30, 2023. There were two customers that each contributed in excess of 10% of the Company’s revenues for 2024. The revenues from each such customer for 2024 are as follows: $11,554,000 and $7,200,000, with each of these revenues reported in the Company’s land development business segment. There were three customers that each contributed in excess of 10% of the Company’s revenues for 2023. The revenues from each such customer for 2023 are as follows: $7,763,000, $6,810,000 and $6,182,000, with each of these revenues reported in the Company’s land development business segment.