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Account Receivable, Contract Assets, and Contract Liabilities
 12 Months Ended
Apr. 30, 2023
Account Receivable Contract Assets And Contract Liabilities  
Account Receivable, Contract Assets, and Contract Liabilities

(3) Account Receivable, Contract Assets, and Contract Liabilities

 

The following provides further details on the balance sheet accounts of accounts receivable, contract assets, and contract liabilities.

 

Accounts Receivable

 

The following provides further details on the balance sheet accounts of accounts receivable, contract assets and contract liabilities from contracts with customers:

  

   2023   2022         
   Fiscal year ended April 30,  
   2023   2022    2021  
   (in thousands)         
                 
Accounts receivable  $745   $482    $ 350  
Contract assets   152    386      190  
Contract liabilities  1,378   129    —  

 

 

Contract Assets

 

Significant changes in the contract assets balances during the period are as follows:

 

   2023   2022 
   Fiscal year ended April 30, 
   2023   2022 
   (in thousands) 
         
Transferred to receivables from contract assets recognized at the beginning of the period  $(1,768)  $(190)
Revenue recognized and not billed as of the end of the period   1,534    386 
Net change in contract assets  $(234)  $196 

 

Contract assets include unbilled amounts typically resulting from arrangements whereby the right to payment is conditioned on completing additional tasks or services for a performance obligation. The decrease in contract assets is primarily a result of services performed that were billed during the fiscal year ended April 30, 2023.

 

Contract Liabilities

 

Significant changes in the contract liabilities balances during the period are as follows:

 

   2023   2022 
   Fiscal year ended April 30, 
   2023   2022 
   (in thousands) 
         
Revenue recognized that was included in the contract liabilities balance as of the beginning of the period  $(574)  $— 
Contract liabilities obtained in acquisition of MAR   —    (203)
Payments collected for which revenue has not been recognized   1,823    129 
Net change in contract liabilities  $1,249   $(74)

 

Contract liabilities consist of amounts invoiced to customers in excess of revenue recognized. The increase in contract liabilities is primarily due to payment for government projects received during the fiscal year ended April 30, 2023 for which we have not recognized revenue.