XML 24 R14.htm IDEA: XBRL DOCUMENT

REVENUES

9 Months Ended

Jan. 31, 2025

(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):


	Three Months Ended				Nine Months Ended
	January 31,				January 31,
	2025		2024		2025		2024
Sale of investment assets	$	—	$	5,701	$	—	$	5,701
Landscaping revenues		370		213		1,473		639
Miscellaneous other revenues		148		138		510		390
Total	$	518	$	6,052	$	1,983	$	6,730

Refer to Note 7 to the consolidated financial statements contained in the 2024 Form 10-K for detail about the categories of other revenues.

Sale of investment assets for the three and nine months ended January 31, 2024 consist of the sale of two buildings leased to commercial tenants.

Miscellaneous other revenues for the three and nine months ended January 31, 2025 primarily consist of extension fees for purchase contracts, management fees for homeowners’ associations and residential rental revenues. Miscellaneous other revenues for the three and nine months ended January 31, 2024 primarily consist of extension fees for purchase contracts, forfeited deposits and residential rental revenues.

Major customers:

●

Substantially all of the land sale revenues were received from two customers for each of the three and nine months ended January 31, 2025 and two customers and three customers for the three and nine months ended January 31, 2024. Other than receivables for immaterial amounts, there were no outstanding receivables from these customers as of January 31, 2025 or January 31, 2024.

●

There were two customers that each contributed in excess of 10% of the Company’s revenues for the three months ended January 31, 2025. The revenues for such customers for the three months ended January 31, 2025 were as follows: $985,000 and $1,869,000, with this revenue reported in the Company’s land development business segment. There was one customer that contributed in excess of 10% of the Company’s revenues for the three months ended January 31, 2024. The revenue from such customer for the three months ended January 31, 2024 was $2,928,000, with this revenue reported in the Company’s land development business segment.

●

There were two customers that each contributed in excess of 10% of the Company’s revenues for the nine months ended January 31, 2025. The revenues from such customers for the nine months ended January 31, 2025 were as follows: $6,028,000 and $6,036,000, with this revenue reported in the Company’s land development business segment. There were two customers that each contributed in excess of 10% of the Company’s revenues for the nine months ended January 31, 2024. The revenues from such customers for the nine months ended January 31, 2024 were as follows: $3,500,000 and $8,937,000, with this revenue reported in the Company’s land development business segment.