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Leases
 9 Months Ended
Jan. 31, 2026
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 January 31, 2026 and April 30, 2025, right-of-use assets totaled $10,449,000 and $12,965,000, respectively. Operating cash paid to settle lease liabilities was $3,250,000 and $2,376,000 for the nine months ended January 31, 2026 and January 31, 2025, respectively. The Company's leases have remaining lease terms of up to six years. In addition, some of the leases may include options to extend the leases for up to five years or options to terminate the leases within one year. Operating lease expense was $1,508,000 and $4,566,000 for the three and nine months ended January 31, 2026, inclusive of period cost for short-term leases, not included in lease liabilities, of $423,000 and $1,316,000. Operating lease expense was $1,306,000 and $3,066,000 for the three and nine months ended January 31, 2025, respectively, inclusive of period cost for short-term leases, not included in lease liabilities, of $264,000 and $691,000.
At January 31, 2026, the weighted average remaining lease term for the capitalized operating leases was 3.5 years and the weighted average discount rate was 6.2%. For the financing leases, the weighted average remaining lease term was 4.7 years and the weighted average discount rate was 7.6%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable.
Future minimum lease payments under non-cancelable leases as of January 31, 2026 were as follows:
($ in thousands)
OperatingFinancing
Remainder of fiscal 2026$976 $23 
20273,448 94 
20282,461 94 
20292,101 94 
20301,625 94 
Thereafter151 38 
Total Minimum Lease Payments10,762 437 
Imputed Interest(1,087)(68)
Total$9,675 $369 
In December 2025, the Company entered into a new lease that has not yet commenced as of January 31, 2026 with future minimum lease payments in aggregate of roughly $1.0 million that are not yet reflected on the Condensed Consolidated Balance Sheet. This lease is expected to commence in the fourth quarter of fiscal year 2026 with a lease term of two 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 January 31, 2026 and April 30, 2025, right-of-use assets totaled $10,449,000 and $12,965,000, respectively. Operating cash paid to settle lease liabilities was $3,250,000 and $2,376,000 for the nine months ended January 31, 2026 and January 31, 2025, respectively. The Company's leases have remaining lease terms of up to six years. In addition, some of the leases may include options to extend the leases for up to five years or options to terminate the leases within one year. Operating lease expense was $1,508,000 and $4,566,000 for the three and nine months ended January 31, 2026, inclusive of period cost for short-term leases, not included in lease liabilities, of $423,000 and $1,316,000. Operating lease expense was $1,306,000 and $3,066,000 for the three and nine months ended January 31, 2025, respectively, inclusive of period cost for short-term leases, not included in lease liabilities, of $264,000 and $691,000.
At January 31, 2026, the weighted average remaining lease term for the capitalized operating leases was 3.5 years and the weighted average discount rate was 6.2%. For the financing leases, the weighted average remaining lease term was 4.7 years and the weighted average discount rate was 7.6%. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of those lease payments. The Company uses the implicit rate when readily determinable.
Future minimum lease payments under non-cancelable leases as of January 31, 2026 were as follows:
($ in thousands)
OperatingFinancing
Remainder of fiscal 2026$976 $23 
20273,448 94 
20282,461 94 
20292,101 94 
20301,625 94 
Thereafter151 38 
Total Minimum Lease Payments10,762 437 
Imputed Interest(1,087)(68)
Total$9,675 $369 
In December 2025, the Company entered into a new lease that has not yet commenced as of January 31, 2026 with future minimum lease payments in aggregate of roughly $1.0 million that are not yet reflected on the Condensed Consolidated Balance Sheet. This lease is expected to commence in the fourth quarter of fiscal year 2026 with a lease term of two years.