Accounts receivable, net, contract asset and contract liability |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts receivable, net, contract asset and contract liability | Accounts receivable, net, contract asset and contract liability Accounts Receivables, net, contract asset and contract liability were as follows (in thousands):
Accounts receivable, net consist of $6,747 and $13,996 from customers as of July 31, 2026 and April 30, 2026, respectively. At July 31, 2026 and April 30, 2026, the allowance for doubtful accounts were $248 and $228, respectively. Contract assets are net of progress payments and performance based payments from our customers totaling $5,263 and $1,596 as of July 31, 2026 and April 30, 2026, respectively. Contract assets increased $3,667 during the three months ended July 31, 2026, primarily due to the recognition of revenue related to the satisfaction or partial satisfaction of performance obligations being more than the payments billed during the three months ended July 31, 2026. There were no significant impairment losses related to our contract assets during the three months ended July 31, 2026. We expect to bill our customers for the majority of the July 31, 2026 contract assets during fiscal year 2027. Contract liabilities decreased $454 during the three months ended July 31, 2026, primarily due to the revenue recognized on these performance obligations being more than the payments received.
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