2. Summary of Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2021

Accounting Policies [Abstract]

Schedule of Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same amounts shown in the Consolidated Statements of Cash Flows (in thousands):

	As of April 30,
	2021		2020		2019
Cash and cash equivalents	$	169,915	$	36,262	$	32,351
Restricted cash		350		350		1,150
Total cash, cash equivalents and restricted cash	$	170,265	$	36,612	$	33,501

Disaggregation of revenue

The following table summarizes our manufacturing and process development revenue streams (in thousands):

	Fiscal Year Ended April 30,
	2021		2020		2019
Manufacturing revenues	$	83,678	$	52,046	$	43,432
Process development revenues		12,190		7,656		10,171
Total revenues	$	95,868	$	59,702	$	53,603

Concentration of revenues

The table below identifies each of our customers that accounted for 10% or more of our total revenues during any of the fiscal years ended April 30, 2021, 2020 and 2019:

Customer	Geographic Location		2021		2020		2019
Halozyme Therapeutics, Inc.		U.S.		51%		28%		30%
Gilead Sciences, Inc.		U.S.		16		24		–
IGM Biosciences, Inc.		U.S.		*		11		*
Acumen Pharmaceuticals, Inc.		U.S.		*		11		*
Coherus BioSciences, Inc.		U.S.		*		10		13
ADC Therapeutics America Inc.		U.S.		*		*		21

______________

*         Represents a percentage less than 10% of our total revenues.

Schedule of estimated useful lives of property

Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related asset, which are generally as follows:

Description	Estimated Useful Life
Leasehold improvements	Shorter of estimated useful life or lease term
Laboratory and manufacturing equipment	5 – 10 years
Computer equipment and software	3 – 5 years
Furniture, fixtures and office equipment	5 – 10 years

Schedule of property and equipment

All of our property and equipment are located in the U.S. Property and equipment consist of the following (in thousands):

	April 30,
	2021			2020
Leasehold improvements	$	23,000		$	21,130
Laboratory and manufacturing equipment		20,793			15,033
Computer equipment and software		5,541			5,334
Furniture, fixtures and office equipment		843			685
Construction-in-progress		8,372			2,564
Total property and equipment, gross		58,549			44,746
Less: accumulated depreciation and amortization		(21,094	)		(17,641	)
Total property and equipment, net	$	37,455		$	27,105