Stock-based Compensation (Tables)

12 Months Ended

Apr. 30, 2023

Time-based Stock Option

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Option Activity

The following table summarizes the Company's time-based stock options:

	Number of Options Outstanding			Weighted Average Exercise Price		Average Remaining Contractual Life (in years)
Outstanding - April 30, 2021		251,867		$	12.30		5.5
Options granted		9,848		$	2.93		9.8
Options forfeited		(7,500	)	$	15.18		—
Outstanding - April 30, 2022		254,215		$	11.79		4.6
Options granted		931,500		$	0.97		9.9
Options forfeited		(2,803	)		3.81		—
Outstanding - April 30, 2023		1,182,912		$	3.29		8.6
Non-vested at April 30, 2023		934,530		$	0.98		9.9
Vested at April 30, 2023		248,382		$	11.98		3.5

Summary of Stock Option Using the Black-Scholes Option-Pricing Model on Grant Date

The Company estimates fair values of time-based stock options using the Black-Scholes option-pricing model on grant date. For the years ended April 30, 2023 and 2022, the principal assumptions used in applying this model were as follows:

	April 30, 2023			April 30, 2022
Risk free interest rate		3.56	%		1.72	%
Volatility		79.6	%		55.0	%
Weighted average expected term (in years)		5.0			4.6

Performance-based Stock Option

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Option Activity

The following summarizes the Company's performance-based stock options:

	Number of Options Outstanding			Weighted Average Exercise Price		Average Remaining Contractual Life (in years)
Outstanding - April 30, 2021		427,071		$	5.81		8.1
Options granted		159,621		$	3.47		9.8
Options forfeited		(4,924	)	$	6.63		—
Outstanding - April 30, 2022		581,768		$	5.16		7.8
Options forfeited		(3,561	)	$	3.34		—
Outstanding - April 30, 2023		578,207		$	5.17		6.8
Non-vested at April 30, 2023		377,588		$	6.21		6.7
Vested at April 30, 2023		200,619		$	3.22		7.0