Divestitures

9 Months Ended

Jan. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Divestitures

Divestitures

Discontinued Operations

On September 18, 2023, the Company disposed of its 100% equity interest in its information technology staffing firm, TPM to Marathon TS, Inc., an IT professional services firm for approximately $2.1 million in cash, of which $200,000 is held in escrow. The amounts held in escrow are limited to claims arising out of or relating to any pre-closing taxes. Any escrow amounts that are not subject to then outstanding indemnification claims shall be released to the Company in equal $100,000 increments on the 24 and 36 month anniversary of the transaction closing date and are included in prepaid expenses and other current assets and other assets in the Condensed Consolidated Balance Sheets (Unaudited) as of January 31, 2025 and April 30, 2024. There have not been any submitted, or expected, indemnification claims against these escrowed funds. This transaction enables us to focus on our core supply chain planning business allowing Logility to continue to expand its AI-first supply chain management platform.

In accordance with applicable accounting guidance for the disposal of long-lived assets, the results of TPM are presented as discontinued operations and, as such, have been excluded from both continuing operations and segment results in the accompanying Condensed Consolidated Statements of Operations (Unaudited), Condensed Consolidated Statements of Cash Flows (Unaudited) and in the Notes to Condensed Consolidated Financial Statements. TPM was previously reported in the former IT Consulting segment, which consisted entirely of TPM.

The following is selected financial information included in Earnings from discontinued operations for TPM:

	Three Months Ended January 31,				Nine Months Ended January 31,
	2025		2024		2025		2024
Revenue	$	—	$	—	$	—	$	4,932
Cost of revenue	—		—		—		3,959
Total operating expenses	$	—	$	—	$	—	$	718
Gain on disposal of discontinued operations	$	—	$	—	$	—	$	2,124
Earnings before income taxes	$	—	$	—	$	—	$	2,379
Income tax expense	—		64		—		567
Earnings from discontinued operations, net of taxes	$	—	$	(64)	$	—	$	1,812