Income Taxes (Tables)

12 Months Ended

Apr. 30, 2026

Schedule of Income Tax Expense/(Benefit) from Continuing Operations

Income tax expense/(benefit) from operations consists of the following (in thousands):


	For the Years Ended April 30,
	2026		2025		2024
Current:
Federal (a)	$	(8)	$	48	$	5
State (b)	48		64		(79)
Foreign	5		11		4
Total current	45		123		(70)
Deferred:
Deferred federal	—		—		—
Deferred state	—		—		—
Total deferred	—		—		—
Total income tax expense/(benefit)	$	45	$	123	$	(70)

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(a)Fiscal Year 2025 federal current expense is net of $875,000 tax benefit of operating loss carryforwards.

(b)Fiscal Year 2025 state current expense is net of $95,000 tax benefit of operating loss carryforwards.

Schedule of Reconciliation of Provision for Income Taxes from Continuing Operations

A reconciliation of the provision for income taxes at statutory rates to the provision reported in the consolidated financial statements for the period ended April 30, 2026, after the adoption of ASU 2023-09 is as follows (in thousands):


	April 30, 2026
	Amount		Percent
U.S Federal Statutory Tax Rate	$	(1,924)	21.0	%
State and Local Income Taxes, Net of Federal Income Tax Effect (c)	36		(0.4)	%
Foreign Tax Effects
China
Statutory tax rate Difference between China and United States	(24)		0.3	%

Effects of Cross-Border Tax Laws
Global intangible low-tax income	20		(0.2)	%
Tax Credits
Research & Development Credits	(151)		1.6	%
Changes in Valuation Allowances	1,565		(17.1)	%
Nontaxable or Nondeductible Items
Stock Compensation	(104)		1.1	%
Executive compensation limitation	550		(6.0)	%
Other	77		(0.8)	%

Effective Tax Rate	45		(0.5)	%

The following table presents a reconciliation of the provision for income taxes from operations at statutory rates to the provision (benefit) in the consolidated financial statements as previously disclosed prior to the adoption of ASU 2023-09 (in thousands):


	For the Years Ended April 30,
		2025		2024
Federal income taxes expected at the statutory rate		$	10	$	(2,587)
State income taxes, less federal income tax benefit		14		(132)
Stock compensation		249		436
Research and development tax credit		(149)		(203)

Change in deferred tax valuation allowance		(192)		2,257
Other		191		159
Total income tax expense/(benefit)		$	123	$	(70)

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income tax effect category.

Schedule of Deferred Tax Assets (Liabilities) Related to Temporary Differences

Deferred tax assets (liabilities) related to temporary differences are the following (in thousands):


	April 30, 2026		April 30, 2025
Non-current tax assets (liabilities):
Inventories	$	1,380	$	1,321
Accrued expenses, including compensation	1,189		2,261

Workers' compensation	—		13
Warranty reserve	309		322
Stock-based compensation	956		991
State bonus depreciation	34		56
Property, plant, and equipment	(1,438)		(1,974)
Intangible assets	10,056		11,059
Right-of Use assets	(7,145)		(7,401)
Right-of Use lease liabilities	7,536		7,724
Capitalized R&D	1,875		2,649
Assets held for sale	802		—
Other	(108)		(182)
Loss and credit carryforwards	5,445		2,267
Less valuation allowance	(20,891)		(19,106)
Net deferred tax asset/(liability) — total	$	—	$	—

Schedule of Cash Paid for Income Taxes (Net of Refunds)

Cash paid for income taxes (net of refunds) by jurisdiction for the year ended April 30, 2026 as reported in the consolidated financial statements, after the adoption of ASU 2023-09 is as follows:


	For the Year Ended April 30,
	2026
Jurisdiction	(In thousands)
Federal	$	—
State	103
Foreign	5

Cash paid for income taxes (net of refunds) exceeded five percent of total taxes paid (net of refunds) in the following states:


	For the Year Ended April 30,
	2026
State	(In thousands)
California	$	(7)
Kentucky	5
North Carolina	10
New York	11
Tennessee	37
Texas	33