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Disaggregation of Revenue
 6 Months Ended
Oct. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue Revenue Recognition: ASC Topic 606, “Revenue from Contracts with Customers”
Under ASC 606, revenue is recognized when a customer obtains control of promised services in an amount that reflects the consideration we expect to receive in exchange for those services. To achieve this core principle, the Company applies the following five steps:
1)Identify the contract, or contracts, with a customer
A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the services to be transferred and identifies the payment terms related to these services, (ii) the contract has commercial substance and (iii) the Company determines that collection of substantially all consideration for services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration.
2)Identification of the performance obligations in the contract
At contract inception, an entity shall assess the goods or services promised in a contract with a customer and shall identify as a performance obligation each promise to transfer to the customer. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services, the Company must apply judgment to determine whether promised services are capable of being distinct and distinct in the context of the
contract. If these criteria are not met the promised services are accounted for as a combined performance obligation.
3)Determination of the transaction price
The transaction price is the amount that an entity allocates to the performance obligations identified in the contract and, therefore, represents the amount of revenue recognized as those performance obligations are satisfied. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer.
4)Allocation of the transaction price to the performance obligations in the contract
Once a contract and associated performance obligations have been identified and the transaction price has been determined, ASC 606 requires an entity to allocate the transaction price to each performance obligation identified. This is generally done in proportion to the standalone selling prices of each performance obligation (i.e., on a relative standalone selling price basis). As a result, any discount within the contract generally is allocated proportionally to all the separate performance obligations in the contract. The Company is applying the right to invoice practical expedient to recognize revenue. As a result, the entity bypasses the steps of determining the transaction price, allocating that transaction price and determining when to recognize revenue as it will recognize revenue as billed by multiplying the price assigned to the good or service, by the units.
5)Recognition of revenue when, or as, we satisfy a performance obligation
Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control transfers either over time or at a point in time. Revenue is recognized when control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.
Aircraft modifications are performed under fixed-price contracts unless modified by change order(s). Significant payment terms are generally included in these contracts, requiring a 25% to 50% down payment on arrival of the aircraft and include milestone payments throughout the project. Typically, contracts are less than one year in duration. Revenue from fixed-priced contracts is recognized on the percentage-of-completion method, measured by the direct labor incurred compared to total estimated direct labor. Direct labor best represents the progress on a contract as it directly correlates to the overall progress on the work to be performed.
Revenue from Aircraft Avionics and Special Mission Electronics are recognized when shipped. Payment for these Avionics products is due within 30 days of the invoice date after shipment.
Regarding warranties and returns, our products are special order and are not suitable for return. Our products are unique upon installation and tested prior to their release to the customer and acceptance by the customer. In the rare event of a warranty claim, the claim is processed through the normal course of business and may include additional charges to the customer. In our opinion, any future warranty work would not be material to the consolidated financial statements.
Gaming revenue is the gross gaming win as reported by the Kansas Lottery casino reporting systems, less the mandated payments by and for the State of Kansas. Electronic games-slots and table games revenue is the aggregate of gaming wins and losses. Liabilities are recognized for chips and “ticket-in, ticket-out” coupons in the customers’ possession, and for accruals related to anticipated payout of progressive jackpots. Progressive gaming machines, which contain base jackpots that increase at a progressive rate based on the number of coins played, are deducted from revenue as the value of jackpots increase. Effective September 1, 2022, sports wagering became legal in the State of Kansas. The Company is currently managing sports wagering through DraftKings sports wagering platform. The Company shares a percentage of the gross sports wagering win with its platform partner. Cash collections owed to DraftKings are recorded in accounts payable within our consolidated balance sheets and totaled $7.9 million and $6.7 million as of October 31, 2025 and April 30, 2025, respectively. Revenue from Gaming Management and other Corporate/Professional Services is recognized as the service is rendered. Food, beverage and other revenue is recorded when the service is received and paid.
Disaggregation of Revenue
In the following table, revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition.
Three Months Ended October 31, 2025Three Months Ended October 31, 2024
Professional ServicesAerospace ProductsTotalProfessional ServicesAerospace ProductsTotal
Geographical Markets
North America$9,212 $12,034 $21,246 $9,650 $8,059 $17,709 
Europe- 984 984 - 3,108 3,108 
Asia- 984 984 - 473 473 
Australia and Other- 37 37 - 70 70 
$9,212 $14,039 $23,251 $9,650 $11,710 $21,360 
Major Product Lines
Casino Gaming Revenue$6,833 $- $6,833 $7,016 $- $7,016 
Sports Wagering Revenue1,558 - 1,558 1,436 - 1,436 
Casino Non-Gaming Revenue821 - 821 1,198 - 1,198 
Aircraft Modification- 8,414 8,414 - 7,170 7,170 
Aircraft Avionics- 852 852 - 824 824 
Special Mission Electronics- 4,773 4,773 - 3,716 3,716 
$9,212 $14,039 $23,251 $9,650 $11,710 $21,360 
Contract Types / Revenue Recognition Timing
Percentage of completion contracts$- $6,792 $6,792 $- $6,539 $6,539 
Goods or services transferred at a point of sale9,212 7,247 16,459 9,650 5,171 14,821 
$9,212 $14,039 $23,251 $9,650 $11,710 $21,360 
Six Months Ended October 31, 2025Six Months Ended October 31, 2024
Professional ServicesAerospace ProductsTotalProfessional ServicesAerospace ProductsTotal
Geographical Markets
North America$18,023 $20,267  $38,290 $18,887 $14,426 $33,313 
Europe- 2,240 2,240 - 6,643 6,643 
Asia- 2,726 2,726 - 928 928 
Australia and Other- 120 120 - 305 305 
$18,023 $25,353 $43,376 $18,887 $22,302 $41,189 
Major Product Lines
Casino Gaming Revenue$13,316 $- $13,316 $14,098 $- $14,098 
Sports Wagering Revenue2,845 - 2,845 2,443 - 2,443 
Casino Non-Gaming Revenue1,862 - 1,862 2,346 - 2,346 
Aircraft Modification- 14,056 14,056 - 14,276 14,276 
Aircraft Avionics- 2,289 2,289 - 1,285 1,285 
Special Mission Electronics- 9,008 9,008 - 6,741 6,741 
$18,023 $25,353 $43,376 $18,887 $22,302 $41,189 
Contract Types / Revenue Recognition Timing
Percentage of completion contracts$- $11,872 $11,872 $- $12,619 $12,619 
Goods or services transferred at a point of sale18,023 13,481 31,504 18,887 9,683 28,570 
$18,023 $25,353 $43,376 $18,887 $22,302 $41,189