XML 24 R14.htm IDEA: XBRL DOCUMENT

REVENUES

6 Months Ended

Oct. 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				Six Months Ended
	October 31,				October 31,
	2025		2024		2025		2024
Landscaping revenues	$	565	$	482	$	1,106	$	1,103
Miscellaneous other revenues		283		233		529		362
Total	$	848	$	715	$	1,635	$	1,465

Refer to Note 7 to the consolidated financial statements contained in the 2025 Form 10-K for detail about the categories of other revenues.

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

Major customers:

●

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

●

There were no customers that contributed in excess of 10% of the Company’s revenues for the three months ended October 31, 2025. There were two customers that each contributed in excess of 10% of the Company’s revenues for the three months ended October 31, 2024. The revenues for such customers for the three months ended October 31, 2024 were as follows: $2,224,000 and $2,502,000, with this revenue reported in the Company’s land development business segment.

●

There were no customers that contributed in excess of 10% of the Company’s revenues for the six months ended October 31, 2025. There were two customers that each contributed in excess of 10% of the Company’s revenues for the six months ended October 31, 2024. The revenues from such customers for the six months ended October 31, 2024 were as follows: $4,159,000 and $6,036,000, with this revenue reported in the Company’s land development business segment.