Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.4
Property and Equipment
9 Months Ended
Jan. 31, 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. There is no expense impact for such write offs.
Property and equipment consisted of the following at January 31, 2021 and April 30, 2020:
January 31,
2021
April 30,
2020
Computer equipment and hardware $ 799,826  $ 649,927 
Furniture and fixtures 1,013,103  1,007,099 
Leasehold improvements 920,736  867,024 
Instructional equipment 315,993  301,842 
Software 7,944,693  6,162,770 
Construction in Progress 907,780  — 
11,902,131  8,988,662 
Accumulated depreciation and amortization (4,355,308) (2,841,019)
Property and equipment, net $ 7,546,823  $ 6,147,643 
Software consisted of the following at January 31, 2021 and April 30, 2020:
January 31,
2021
April 30,
2020
Software $ 7,944,693  $ 6,162,770 
Accumulated amortization (3,078,213) (2,049,809)
Software, net $ 4,866,480  $ 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 three and nine months ended January 31, 2021 and 2020:
Three Months Ended
January 31,
Nine Months Ended
January 31,
2021 2020 2021 2020
Depreciation and amortization expense $ 525,018  $ 364,504  $ 1,519,536  $ 1,012,548 
Software amortization expense $ 366,908  $ 265,146  $ 1,028,668  $ 728,395 
The following is a schedule of estimated future amortization expense of software at January 31, 2021 (by fiscal year):
Future Expense
2021 (remaining) $ 369,241 
2022 1,452,508 
2023 1,291,627 
2024 1,003,841 
2025 594,137 
Thereafter 155,126 
Total $ 4,866,480