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Property and Equipment, net
 6 Months Ended
Oct. 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 October 31, 2023 and April 30, 2023 consisted of the following:

  

   October 31, 2023   April 30, 2023 
   (in thousands) 
Equipment  $1,040   $783 
Computer equipment & software   728    700 
Office furniture & equipment   422    386 
Leasehold improvements   628    611 
Leased WAM-V’s   620    371 
Leased Buoys   111    — 
Property and equipment, gross   3,549    2,851 
Less: accumulated depreciation   (1,743)   (1,571)
Property and equipment, net  $1,806   $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 $172,000 and $117,000 for the six-month periods ended October 31, 2023 and 2022, respectively. Depreciation expense was approximately $101,000 and $74,000 for the three-month periods ended October 31, 2023 and 2022, respectively.