Stock-based Compensation (Tables)
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9 Months Ended |
12 Months Ended |
Jan. 31, 2023 |
Apr. 30, 2023 |
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Stock-Based Compensation Expense |
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The following is a summary of stock-based compensation expense:
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For the years ended April 30 |
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$ |
4,232 |
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$ |
15,229 |
|
Selling, General and Administrative |
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64,163 |
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9,446 |
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$68,396 |
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$24,675 |
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| Service-based Stock Option |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Stock Option Activity |
The following is a summary of service-based stock option activity during the nine months ended January 31, 2023:
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Number of
Options
Outstanding |
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Weighted
Average
Exercise
Price |
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|
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding—April 30, 2022 |
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|
254,215 |
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|
$ |
11.79 |
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|
4.6 |
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(2,273 |
) |
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|
1.16 |
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|
— |
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Outstanding— January 31, 2023 |
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251,942 |
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$ |
11.89 |
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3.9 |
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Non-vested at January 31, 2023 |
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3,851 |
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$ |
3.31 |
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8.9 |
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Vested at January 31, 2023 |
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248,091 |
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$ |
12.02 |
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|
3.8 |
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The following table summarizes the Company’s service-based stock options:
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Number of
Options
Outstanding |
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|
Weighted
Average
Exercise
Price |
|
|
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding - April 30, 2020 |
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|
248,837 |
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|
$ |
12.44 |
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6.5 |
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|
3,030 |
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$ |
1.16 |
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9.5 |
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Outstanding - April 30, 2021 |
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251,867 |
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$ |
12.30 |
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|
5.5 |
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|
9,848 |
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$ |
2.93 |
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9.8 |
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(7,500 |
) |
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$ |
15.18 |
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— |
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Outstanding - April 30, 2022 |
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254,215 |
|
|
$ |
11.79 |
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|
4.6 |
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Non-vested at April 30, 2022 |
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10,126 |
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$ |
2.89 |
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9.5 |
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244,089 |
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$ |
12.16 |
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4.4 |
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| Summary of Stock Option Using The Black-Scholes Option-Pricing Model On Grant Date |
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The Company estimates fair values of service-based stock options using the Black-Scholes option-pricing model on grant date. The principal assumptions used in applying this model were as follows:
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1.72 |
% |
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1.08 |
% |
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|
55.0 |
% |
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|
53.0 |
% -66.2% |
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— |
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— |
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Weighted average expected term (in years) |
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4.6 |
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|
9.5 |
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| Performance-based Stock Option |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of Stock Option Activity |
The following is a summary of performance-based stock option activity during the nine months ended January 31, 2023:
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| |
|
Number of
Options
Outstanding |
|
|
Weighted
Average
Exercise
Price |
|
|
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding—April 30, 2022 |
|
|
581,768 |
|
|
$ |
5.16 |
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|
7.8 |
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(1,515 |
) |
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3.47 |
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— |
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Outstanding— January 31, 2023 |
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580,253 |
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$ |
5.16 |
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7.1 |
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Non-vested at January 31, 2023 |
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432,665 |
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$ |
5.57 |
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7.1 |
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Vested at January 31, 2023 |
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147,588 |
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$ |
3.97 |
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|
7.1 |
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The following summarizes the Company’s performance-based stock options:
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Number of
Options
Outstanding |
|
|
Weighted
Average
Exercise
Price |
|
|
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding - April 30, 2020 |
|
|
285,101 |
|
|
$ |
8.20 |
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|
8.2 |
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145,758 |
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$ |
1.16 |
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9.5 |
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(3,788 |
) |
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$ |
6.25 |
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— |
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Outstanding - April 30, 2021 |
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427,071 |
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$ |
5.81 |
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|
8.1 |
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159,621 |
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$ |
3.47 |
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— |
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(4,924 |
) |
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$ |
6.63 |
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9.8 |
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Outstanding - April 30, 2022 |
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581,768 |
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|
$ |
5.16 |
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7.8 |
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Non-vested at April 30, 2022 |
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497,626 |
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$ |
5.30 |
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|
8.1 |
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84,142 |
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$ |
4.34 |
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|
6.6 |
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| Summary of Stock Option Using The Black-Scholes Option-Pricing Model On Grant Date |
|
The Company estimates fair values of performance-based stock options using the Black-Scholes option-pricing model on grant date. The principal assumptions used in applying this model were as follows
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1.72 |
% |
|
|
1.08 |
% |
|
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|
55.0 |
% |
|
|
53.0 |
% -66.2% |
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|
|
— |
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— |
|
Weighted average expected term (in years) |
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|
7.8 |
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|
8.1 |
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