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COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Jul. 31, 2025
COMMITMENTS AND CONTINGENCIES.  
COMMITMENTS AND CONTINGENCIES

(11) COMMITMENTS AND CONTINGENCIES

Refer to Note 13 to the consolidated financial statements contained in the 2025 Form 10-K for detail regarding the Company’s warranty reserves, security for performance obligations and litigation.

Warranty Reserves. Changes in warranty reserves were as follows (in thousands):

​

​

​

​

​

​

​

​

    

Three Months Ended

​

​

July 31, 

​

​

2025

    

2024

Balance at beginning of period

    

$

259

    

$

174

Warranty issued during period

​

 

49

​

 

45

Change in pre-existing reserves

​

​

—

​

​

—

Warranty expenditures during period

​

 

(5)

​

 

(4)

Balance at end of period

​

$

303

​

$

215

​

Security for Performance Obligations. As of July 31, 2025, the Company had loan reserves outstanding under its Revolving Line of Credit in the aggregate principal amount of $1,812,000 in favor of a municipality guarantying the completion of improvements in a subdivision being constructed by the Company.

Litigation. The Company has not accrued any amounts related to litigation matters as of July 31, 2025.