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Property and Equipment
 12 Months Ended
Apr. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment

(6) Property and Equipment

 

The components of property and equipment as of April 30, 2024 and 2023 consisted of the following:

 

   April 30, 2024   April 30, 2023 
   (in thousands) 
Equipment  $1,530   $783 
Computer equipment & software   790    700 
Office furniture & equipment   422    386 
Leasehold improvements   683    611 
Leased WAM-V’s   1,547    371 
Leased Buoys   444    — 
Property and equipment, gross   5,416    2,851 
Less: accumulated depreciation   (1,973)   (1,571)
Property and equipment, net  $3,443   $1,280 

 

Leased WAM-V’s represent fixed assets that are associated with underlying operating leases with customers as discussed in revenue recognition section related to ASC 842.

 

Depreciation expense was approximately $420,000 and $183,000 for years ended April 30, 2024 and 2023, respectively.