Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.21.2
Property and Equipment
 12 Months Ended
Apr. 30, 2021
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. There is no expense impact for such write offs.
Property and equipment consisted of the following at April 30, 2021 and 2020:
April 30,
2021 2020
Computer equipment and hardware $ 956,463  $ 649,927 
Furniture and fixtures 1,705,101  1,007,099 
Leasehold improvements 5,729,324  867,024 
Instructional equipment 421,039  301,842 
Software 8,488,635  6,162,770 
Construction in progress 247,767  — 
17,548,329  8,988,662 
   Less: accumulated depreciation and amortization (4,892,987) (2,841,019)
Property and equipment, net $ 12,655,342  $ 6,147,643 
Software consisted of the following at April 30, 2021 and 2020:
April 30,
2021 2020
Software
 $ 8,488,635  $ 6,162,770 
Accumulated amortization (3,444,325) (2,049,809)
Software, net
 $ 5,044,310  $ 4,112,961 
Depreciation and amortization expense for property and equipment as well as the portion for just software amortization is presented below for the years ended April 30, 2021 and 2020:
Years Ended April 30,
2021 2020
Depreciation and amortization expense $ 2,381,656  $ 1,497,470 
Software amortization expense $ 1,405,756  $ 1,013,466 
The following is a schedule of estimated future amortization expense of software at April 30, 2021 (by fiscal year):
Future Expense
2022 $ 1,562,515 
2023 1,401,634 
2024 1,111,974 
2025 707,172 
2026 251,568 
Thereafter 9,447 
Total $ 5,044,310