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Property and Equipment
 12 Months Ended
Apr. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following (in thousands):
 April 30,
 20252024
Furniture and fixtures$246 $246 
Computer equipment and software2,165 2,152 
Laboratory equipment11,323 11,506 
Capitalized software development costs1,888 1,888 
Assets in progress124 3 
Leasehold improvements317 317 
Total property and equipment16,063 16,112 
Less: Accumulated depreciation and amortization(11,688)(10,391)
Property and equipment, net$4,375 $5,721 
 
    Depreciation and amortization expense was $1.6 million and $1.9 million for the years ended April 30, 2025 and 2024, respectively. Depreciation and amortization expense, excluding expense recorded under finance leases, was $1.5 million and $1.7 million for the years ended April 30, 2025 and 2024, respectively.

    As of April 30, 2025 and 2024, property, plant and equipment included gross assets held under finance leases of $1.0 million, respectively. Related depreciation expense for these assets was approximately $150,000 and $146,000 for the years ended April 30, 2025 and 2024, respectively.

During the year ended April 30, 2025, the Company disposed of lab equipment with a cost of $636,000 and accumulated depreciation of $343,000 as of the disposal date, resulting in a loss on disposal of equipment recorded of $293,000. During the year ended April 30, 2024, the Company disposed of lab equipment with a cost of $542,000 and accumulated depreciation of $107,000 as of the disposal date, resulting in a loss on disposal of equipment recorded of $435,000.

Finance Lease

During fiscal 2022, the Company recognized a finance lease for laboratory equipment. This equipment was obtained as the result of a laboratory supplies purchase commitment with costs of approximately $370,000 at inception through December 2025. Cash payments for this lease are in the form of consideration for purchasing lab supplies under a purchase commitment agreement. The present value of the minimum future obligations of $370,000 was calculated based on an interest rate of 3.25%. Depreciation and amortization expense related to this finance lease was $77,000 and $75,000 for the years ended April 30, 2025 and 2024, respectively. Interest on the related finance lease liability was approximately $3,000 and $6,000 for the years ended April 30, 2025 and 2024, respectively.

During fiscal 2023, the Company recognized a finance lease for laboratory equipment. This equipment was obtained as the result of a laboratory supplies purchase commitment with costs of approximately $368,000 at inception through May 2027. Cash payments for this lease are in the form of consideration for purchasing lab supplies under a purchase commitment agreement. The present value of the minimum future obligations of $368,000 was calculated based on an interest rate of 3.5%. Depreciation and amortization expense related to this finance lease was $73,000 and $71,000 for the years ended April 30, 2025
and 2024, respectively. Interest on the related finance lease liability was approximately $7,000 and $9,000 for the years ended April 30, 2025 and 2024, respectively.

Future minimum lease payments due each fiscal year as follows (in thousands):

2026$140 
202780 
20287 
Thereafter— 
Total undiscounted liabilities227 
Less: Imputed interest(7)
Present value of minimum lease payments$220 
Current portion financing lease135 
Long-term portion financing lease85 
As noted above, the Company's financing leases are for laboratory equipment. The associated liabilities for these leases are classified on the consolidated balance sheets within other current and other non-current liabilities.