Property and Equipment (Tables)
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12 Months Ended |
Apr. 30, 2021 |
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| Property, Plant and Equipment [Abstract] |
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| Schedule of Property and Equipment |
Property and equipment consisted of the following at April 30, 2021 and 2020:
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April 30, |
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2021 |
|
2020 |
| Computer equipment and hardware |
$ |
956,463 |
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|
$ |
649,927 |
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| Furniture and fixtures |
1,705,101 |
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|
1,007,099 |
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| Leasehold improvements |
5,729,324 |
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|
867,024 |
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| Instructional equipment |
421,039 |
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|
301,842 |
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| Software |
8,488,635 |
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|
6,162,770 |
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| Construction in progress |
247,767 |
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— |
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|
17,548,329 |
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|
8,988,662 |
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| Less: accumulated depreciation and amortization |
(4,892,987) |
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|
(2,841,019) |
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| Property and equipment, net |
$ |
12,655,342 |
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|
$ |
6,147,643 |
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| Schedule of Software |
Software consisted of the following at April 30, 2021 and 2020:
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April 30, |
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2021 |
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2020 |
Software |
$ |
8,488,635 |
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|
$ |
6,162,770 |
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| Accumulated amortization |
(3,444,325) |
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|
(2,049,809) |
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Software, net |
$ |
5,044,310 |
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|
$ |
4,112,961 |
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Courseware and accreditation consisted of the following:
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April 30, |
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2021 |
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2020 |
| Courseware |
$ |
408,222 |
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$ |
287,813 |
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| Accreditation |
59,350 |
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|
59,350 |
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|
467,572 |
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|
347,163 |
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| Accumulated amortization |
(280,276) |
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|
(235,706) |
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| Courseware and accreditation, net |
$ |
187,296 |
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|
$ |
111,457 |
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| Schedule of Depreciation and Amortization Expense |
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:
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Years Ended April 30, |
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2021 |
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2020 |
| Depreciation and amortization expense |
$ |
2,381,656 |
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$ |
1,497,470 |
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| Software amortization expense |
$ |
1,405,756 |
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|
$ |
1,013,466 |
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| Schedule of Estimated Future Amortization Expense of Software |
The following is a schedule of estimated future amortization expense of software at April 30, 2021 (by fiscal year):
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Future Expense |
| 2022 |
$ |
1,562,515 |
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| 2023 |
1,401,634 |
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| 2024 |
1,111,974 |
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| 2025 |
707,172 |
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| 2026 |
251,568 |
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| Thereafter |
9,447 |
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| Total |
$ |
5,044,310 |
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The following is a schedule of estimated future amortization expense of courseware and accreditation at April 30, 2021 (by fiscal year):
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Future Expense |
| 2022 |
$ |
55,612 |
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| 2023 |
50,087 |
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| 2024 |
36,540 |
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| 2025 |
25,452 |
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| 2026 |
18,977 |
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| Thereafter |
628 |
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| Total |
$ |
187,296 |
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