Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.2
Property and Equipment
 12 Months Ended
Apr. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
As property and equipment reach the end of their useful lives, the fully expired assets are written off against the associated accumulated depreciation and amortization.
When assets are disposed of before reaching the end of their useful lives, both the recorded cost of the fixed asset and the corresponding amount of accumulated depreciation is reversed. Any remaining difference between the two is recognized as either other income or expense.
Property and equipment consisted of the following:
April 30,
2022 2021
   Computer equipment and hardware $ 1,516,475  $ 956,463 
   Furniture and fixtures 2,193,261  1,705,101 
   Leasehold improvements 7,179,896  5,729,324 
   Instructional equipment 715,652  421,039 
   Software 10,285,096  8,488,635 
   Construction in progress 2,100  247,767 
21,892,480  17,548,329 
Accumulated depreciation and amortization (8,395,001) (4,892,987)
      Property and equipment, net $ 13,497,479  $ 12,655,342 
Software consisted of the following:
April 30,
2022 2021
Software
 $ 10,285,096  $ 8,488,635 
Accumulated amortization (5,170,943) (3,444,325)
Software, net
 $ 5,114,153  $ 5,044,310 
Depreciation and amortization expense for property and equipment and software is summarized below:
Years Ended April 30,
2022 2021
Depreciation and amortization expense:
Property and equipment, excluding software $ 1,555,119  $ 975,900 
Software amortization expense $ 1,726,618  $ 1,405,756 
The following is a schedule of estimated future amortization expense of software at April 30, 2022 (by fiscal year):
Future Expense
2023 $ 1,763,621 
2024 1,473,045 
2025 1,070,781 
2026 610,861 
2027 195,845 
Total $ 5,114,153