12. Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Apr. 30, 2021

Quarterly Financial Information Disclosure [Abstract]

Selected quarterly financial information for each of the two most recent fiscal

The following is a summary of our unaudited quarterly results for each of the two most recent fiscal years (in thousands, except per share amounts):

	Fiscal Year Ended April 30, 2021
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues	$	25,392		$	21,064		$	21,806		$	27,606
Gross profit	$	8,544		$	6,418		$	6,202		$	8,143
Total operating expenses	$	3,825		$	4,166		$	4,018		$	5,055
Interest and other income (expense), net (1)	$	11		$	32		$	23		$	(1,097	)
Net income	$	4,730		$	2,284		$	2,207		$	1,991
Series E preferred stock accumulated dividends	$	(1,442	)	$	(1,442	)	$	(1,442	)	$	(1,211	)
Impact of Series E preferred stock redemption (2)	$	–		$	–		$	–		$	(3,439	)
Net income (loss) attributable to common stockholders	$	3,288		$	842		$	765		$	(2,659	)
Basic and diluted net income (loss) per common share attributable to common stockholders (3)	$	0.06		$	0.01		$	0.01		$	(0.04	)

	Fiscal Year Ended April 30, 2020
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues	$	15,254		$	18,313		$	13,585		$	12,550
Gross profit (loss)	$	1,086		$	3,360		$	785		$	(1,299	)
Total operating expenses (4)	$	4,459		$	3,889		$	2,996		$	3,528
Net loss	$	(3,164	)	$	(430	)	$	(2,104	)	$	(4,768	)
Series E preferred stock accumulated dividends	$	(1,442	)	$	(1,442	)	$	(1,442	)	$	(1,442	)
Net loss attributable to common stockholders	$	(4,606	)	$	(1,872	)	$	(3,546	)	$	(6,210	)
Basic and diluted net loss per common share attributable to common stockholders (3)	$	(0.08	)	$	(0.03	)	$	(0.06	)	$	(0.11	)

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(1)	Interest and other income (expense), net, for the fourth quarter ended April 30, 2021 includes aggregate interest expense of $1.2 million related to our Convertible Notes issued in March 2021 (Note 3).
(2)	On April 12, 2021 we redeemed our outstanding shares of Series E Preferred Stock at a per share price equal to the $25.00 liquidation amount plus accrued and unpaid dividends up to, but excluding, the redemption date (Note 5). In connection with the completed redemption, we incurred a charge of $3.4 million related to the excess of the redemption value paid upon redemption over the carrying value of our Series E Preferred Stock.
(3)	Basic and diluted net income (loss) per common share attributable to common stockholders was the same for all periods presented.
(4)	Total operating expenses for the second quarter of fiscal year ended April 30, 2020 includes a loss on lease termination of $0.4 million (Note 4).