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v3.25.2

Property and Equipment, net | 3 Months Ended
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Jul. 31, 2025
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, 2025 and April 30, 2025 consisted of the following: Schedule of Components of Property and Equipment, Net
|  | July 31, 2025 |  |  | April 30, 2025 |
|  | (in thousands) |
Equipment |  | $ | 2,088 |  |  | $ | 1,569 |
Computer equipment & software |  |  | 629 |  |  |  | 620 |
Office furniture & equipment |  |  | 425 |  |  |  | 425 |
Leasehold improvements |  |  | 683 |  |  |  | 683 |
Leased WAM-V’s |  |  | 1,735 |  |  |  | 1,735 |
Leased Buoys |  |  | 1,874 |  |  |  | 949 |
Property and equipment, gross |  |  | 7,434 |  |  |  | 5,981 |
Less: accumulated depreciation |  |  | (2,731 | ) |  |  | (2,537 | )
Property and equipment, net |  | $ | 4,703 |  |  | $ | 3,444 |
Leased WAM-V’s and buoys represent fixed assets that are associated with underlying operating leases with customers or for customer demonstration as discussed in the revenue recognition section related to ASC 842. Depreciation expense was approximately $194,000 and $204,000 for the three-month periods ended July 31, 2025 and 2024, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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