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Property and Equipment, net
 3 Months Ended
Jul. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

(6) Property and Equipment, net

 

The components of property and equipment, net as of July 31, 2023 and April 30, 2023 consisted of the following:

 

   July 31, 2023    April 30, 2023 
   (in thousands) 
Equipment  $804    $783 
Computer equipment & software   714     700 
Office furniture & equipment   407     386 
Leasehold improvements   628     611 
Leased WAM-V’s   431     371 
 Property and equipment, gross    2,984     2,851 
Less: accumulated depreciation   (1,642)    (1,571)
Property and equipment, net  $1,342    $1,280 

 

Leased WAM-V’s represent fixed assets that are part of underlying operating leases with customers as discussed in the revenue recognition section of ASC 842 policy disclosure. Depreciation expense was approximately $71,000 and $43,000 for the three-month periods ended July 31, 2023 and 2022, respectively.