COMMITMENTS AND CONTINGENCIES

9 Months Ended

Jan. 31, 2026

COMMITMENTS AND CONTINGENCIES.

COMMITMENTS AND CONTINGENCIES

(11)COMMITMENTS AND CONTINGENCIES

Refer to Note 13 to the consolidated financial statements contained in the 2025 Form 10-K for detail regarding the Company’s warranty reserves, security for performance obligations and litigation.

Warranty Reserves. Changes in warranty reserves were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	January 31,				January 31,
	2026		2025		2026		2025
Balance at beginning of period	$	340	$	234	$	259	$	175
Warranty issued during period		20		22		110		91
Change in pre-existing reserves		—		—		—		—
Warranty expenditures during period		(4)		(7)		(13)		(17)
Balance at end of period	$	356	$	249	$	356	$	249

Security for Performance Obligations. As of January 31, 2026, the Company had loan reserves outstanding under its Revolving Line of Credit in the aggregate principal amount of $1,812,000 in favor of a municipality guarantying the completion of improvements in a subdivision being constructed by the Company.

Litigation. The Company has not accrued any amounts related to litigation matters as of January 31, 2026.