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Debt
 12 Months Ended
Apr. 30, 2025
Debt Disclosure [Abstract]  
Debt Debt
On August 24, 2020, we entered into a financing arrangement consisting of a $50.0 million revolving line of credit secured by substantially all our assets, maturing five years from the closing date, with available borrowings determined by a borrowing base calculation. The revolving line included an option to increase the credit commitment by an additional $15 million.
On March 25, 2022, we amended our secured loan and security agreement, or the Amended Loan and Security Agreement, increasing the revolving line of credit to $75 million, secured by substantially all our assets, maturing in March 2027, with available borrowings determined by a borrowing base calculation. The amendment also includes an option to increase the credit commitment by an additional $15 million. The amended revolving line bears interest at a fluctuating rate equal to the Base Rate or Secured Overnight Financing Rate, or SOFR, as applicable, plus the applicable margin. The applicable margin can range from a minimum of 0.25% to a maximum of 1.75% based on certain conditions as defined in the Amended Loan and Security Agreement. The financing arrangement contains covenants relating to minimum debt service coverage.
As of April 30, 2025, we had no borrowings outstanding on the revolving line of credit. If we would have had borrowings on the revolving line of credit, the interest rate would have been 5.91% at April 30, 2025, equal to SOFR plus the applicable margin. As of April 30, 2024, we had no borrowings outstanding on the revolving line of credit. During the year ended April 30, 2025, we bor
rowed $7.0 million on our revolving line of credit for general business purposes. Also, during the year ended April 30, 2025, we paid, in full, the $7.0 million of borrowings utilizing cash on hand.
As of April 30, 2025 and 2024, we had executed irrevocable standby letters of credit totaling $1.7 and $3.3 million, respectively, to collateralize duty drawback bonds. During the fiscal years ended April 30, 2025 and 2024, no amounts have been drawn on the letter of credit.