Revenue Recognition

3 Months Ended

Jul. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue RecognitionThe Company recognizes revenue when control of a good or service promised in a contract (i.e., performance obligation) is transferred to a customer. Control is obtained when a customer has the ability to direct the use of and obtain substantially all of the remaining benefits from that good or service. The majority of the Company's revenues are recognized over time as the customer receives control as the Company performs work under a contract. However, a portion of the Company's revenues are recognized at a point-in-time as control is transferred at a distinct point in time per the terms of a contract.

Disaggregated Revenue

A summary of net sales transferred to customers over time and at a point in time for the periods ended July 31, 2022 and July 31, 2021 is as follows (in thousands):

	Three Months Ended
	July 31, 2022						July 31, 2021
	Domestic		International		Total		Domestic		International		Total
Over Time	$	35,353	$	12,655	$	48,008	$	28,652	$	9,830	$	38,482
Point in Time	2,115		—		2,115		1,011		—		1,011
Total	$	37,468	$	12,655	$	50,123	$	29,663	$	9,830	$	39,493

Contract Balances

The closing balances of contract assets included $9,705,000 in accounts receivable and $1,672,000 in other assets at July 31, 2022. The opening balance of contract assets arising from contracts with customers included $9,287,000 in accounts receivable and $1,293,000 in other assets at April 30, 2022. The closing and opening balances of contract liabilities included in deferred revenue arising from contracts with customers were $14,116,000 at July 31, 2022 and $3,529,000 at April 30, 2022. The timing of revenue recognition, billings and cash collections results in accounts receivable, unbilled receivables, and deferred revenue which are disclosed in the Condensed Consolidated Balance Sheets and in the Notes to the Condensed Consolidated Financial Statements. In general, the Company receives payments from customers based on a billing schedule established in its contracts. Unbilled receivables represent amounts earned which have not yet been billed in accordance with contractually stated billing terms and are included in receivables on the Condensed Consolidated Balance Sheets. Receivables are recorded when the right to consideration becomes unconditional and the Company has a right to invoice the customer. Deferred revenue relates to payments received in advance of performance under the contract. Deferred revenue is recognized as revenue as (or when) the Company performs under the contract. Approximately 100% of the contract liability balances at April 30, 2022 and July 31, 2022 are expected to be recognized as revenue during the respective succeeding 12 months.