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Leases
 6 Months Ended
Oct. 31, 2023
Leases [Abstract]  
Leases Leases
The Company recognizes lease assets and lease liabilities reflecting the rights and obligations created by operating type leases for real estate and equipment in both the U.S. and internationally and financing leases for vehicles and IT equipment in the U.S. At October 31, 2023 and April 30, 2023, right-of-use assets totaled $8,393,000 and $9,170,000, respectively. Operating cash paid to settle lease liabilities was $1,282,000 and $1,026,000 for the six months ended October 31, 2023 and October 31, 2022, respectively. The Company's leases have remaining lease terms of up to 8 years. In addition, some of the leases may include options to extend the leases for up to 5 years or options to terminate the leases within 1 year. Operating lease expenses were $847,000 and $1,714,000 for the three and six months ended October 31, 2023, inclusive of period cost for short-term leases, not included in lease liabilities, of $204,000 and $432,000. Operating lease expenses were $900,000 and $1,734,000 for the three and six months ended October 31, 2022, inclusive of period cost for short-term leases, not included in lease liabilities, of $398,000 and $708,000.
At October 31, 2023, the weighted average remaining lease term for the capitalized operating leases was 4.6 years and the weighted average discount rate was 5.1%. For the financing leases, the weighted average remaining lease term was 5.0 years and the weighted average discount rate was 8.5%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable.
Future minimum lease payments under non-cancelable leases as of October 31, 2023 were as follows:
OperatingFinancing
Remainder of fiscal 2024$1,294 $36 
20252,286 131 
20261,933 111 
20271,654 40 
20281,120 40 
Thereafter1,370 95 
Total Minimum Lease Payments9,657 453 
Imputed Interest(1,323)(86)
Total$8,334 $367 
Subsequent to October 31, 2023, the Company entered into a new lease that has not yet commenced as of October 31, 2023 with future minimum lease payments in aggregate of $681,000 that are not yet reflected on the Condensed Consolidated Balance Sheet. This lease is expected to commence in the second quarter of fiscal year 2025 with a lease term of 3 years.
Leases Leases
The Company recognizes lease assets and lease liabilities reflecting the rights and obligations created by operating type leases for real estate and equipment in both the U.S. and internationally and financing leases for vehicles and IT equipment in the U.S. At October 31, 2023 and April 30, 2023, right-of-use assets totaled $8,393,000 and $9,170,000, respectively. Operating cash paid to settle lease liabilities was $1,282,000 and $1,026,000 for the six months ended October 31, 2023 and October 31, 2022, respectively. The Company's leases have remaining lease terms of up to 8 years. In addition, some of the leases may include options to extend the leases for up to 5 years or options to terminate the leases within 1 year. Operating lease expenses were $847,000 and $1,714,000 for the three and six months ended October 31, 2023, inclusive of period cost for short-term leases, not included in lease liabilities, of $204,000 and $432,000. Operating lease expenses were $900,000 and $1,734,000 for the three and six months ended October 31, 2022, inclusive of period cost for short-term leases, not included in lease liabilities, of $398,000 and $708,000.
At October 31, 2023, the weighted average remaining lease term for the capitalized operating leases was 4.6 years and the weighted average discount rate was 5.1%. For the financing leases, the weighted average remaining lease term was 5.0 years and the weighted average discount rate was 8.5%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable.
Future minimum lease payments under non-cancelable leases as of October 31, 2023 were as follows:
OperatingFinancing
Remainder of fiscal 2024$1,294 $36 
20252,286 131 
20261,933 111 
20271,654 40 
20281,120 40 
Thereafter1,370 95 
Total Minimum Lease Payments9,657 453 
Imputed Interest(1,323)(86)
Total$8,334 $367 
Subsequent to October 31, 2023, the Company entered into a new lease that has not yet commenced as of October 31, 2023 with future minimum lease payments in aggregate of $681,000 that are not yet reflected on the Condensed Consolidated Balance Sheet. This lease is expected to commence in the second quarter of fiscal year 2025 with a lease term of 3 years.