XML 35 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that total to the same amounts shown in the Consolidated Statements of Cash Flows.

 

 Schedule of Cash and Cash Equivalents and Restricted Cash

   January 31, 2024   April 30, 2023 
   (in thousands) 
Cash and cash equivalents  $4,720   $6,883 
Restricted cash- short term   154    65 
Restricted cash- long term   —    155 
Cash, cash equivalents, restricted cash and restricted cash equivalents  $4,874   $7,103 
Schedule of Investments and Unrealized Gains/Losses

The following table summarizes the Company’s short term investments as of January 31, 2024 and April 30, 2023:

 

   January 31, 2024   April 30, 2023 
Category  Amortized Cost   Unrealized Gains   Market Value   Amortized Cost   Unrealized Gains   Market Value 
   (in thousands)   (in thousands) 
Corporate Bonds  $1,767   $20   $1,787   $14,776   $100   $14,876 
Government Bonds & Notes   2,610   $21    2,631    9,188   $33    9,221 
Government Agency Bonds   —   $—    —    3,826    25    3,851 
Total Short Term Investments  $4,377   $41   $4,418   $27,790   $158   $27,948 
Schedule of Property, Plant and Equipment, Useful Life

 

Description   Estimated depreciable life
     
Equipment   5-7 years
Computer equipment & software   3 years
Office furniture & fixtures   3-7 years
Leasehold improvements   Shorter of the estimated useful life or lease term
Leased Power Buoys assets   10 years
Leased WAM-V assets   10 years
Schedule of Revenue Recognizes From Operating Lease Arrangements

The below table represents the total revenue recognized under ASC 606 and ASC 842 for the three and nine months ended January 31, 2024 and 2023.

 

   ASC 606   ASC 842   Total   ASC 606   ASC 842   Total 
   Nine months ended January 31, 2024   Nine months ended January 31, 2023 
   ASC 606   ASC 842   Total   ASC 606   ASC 842   Total 
   (in thousands)   (in thousands) 
Product Line:                              
WAM-V  $1,625   $896   $2,521   $691   $190   $881 
Buoy   950    —    950    227    —    227 
Services   482    —    482    644    —    644 
Total  $3,057   $896   $3,953   $1,562   $190   $1,752 
                               
Region:                              
North and South America  $3,057   $896   $3,953   $1,311   $190   $1,501 
Asia and Australia   —    —    —    251    —    251 
Total  $3,057   $896   $3,953   $1,562   $190   $1,752 

 

   ASC 606   ASC 842   Total   ASC 606   ASC 842   Total 
   Three months ended January 31, 2024   Three months ended January 31, 2023 
   ASC 606   ASC 842   Total   ASC 606   ASC 842   Total 
   (in thousands)   (in thousands) 
Product Line:                              
WAM-V  $1,085   $387   $1,472   $271   $175   $446 
Buoy   320    —    320    176    —    176 
Services   —    —    —    112    —    112 
Total  $1,405   $387   $1,792   $559   $175   $734 
                               
Region:                              
North and South America  $1,405   $387   $1,792   $540   $175   $715 
Asia and Australia   —    —    —    19    —    19 
Total  $1,405   $387   $1,792   $559   $175   $734