XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.2
Property and Equipment, net
 3 Months Ended
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:

 

   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.