Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Apr. 30, 2024 | Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2021 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | PAY VERSUS PERFORMANCE DISCLOSURE Value of Initial Fixed $100 investment based on: Year Summary Compensation Table Total for CEO Compensation Actually Paid to CEO Average Summary Compensation Table Total for non-CEO NEOs Average Compensation Actually Paid to Non-CEO NEOs Total Shareholder Return Peer Group Total Shareholder Return Net Income ($mm) Adj. EBITDA ($mm) (a) (b) (c) (d) (e) (f) (g) (h)(i) (j)(k) 2024 $1,855,940 942,317 756,668 444,209 $ 69 $241 $ 11.4 $ 8.5 2023 2,759,911 (24,534) 1,149,249 243,292 78 166 10.4 13.7 2022 3,825,451 2,454,375 1,464,943 1,030,883 108 159 12.8 17.3 2021 2,524,100 4,400,545 1,037,363 1,702,074 129 163 8.1 10.0 (a) Refers to the Company’s fiscal year. (b) Reflects compensation amounts reported in the Summary Compensation Table (“SCT”) in the Fiscal 2024 Executive Compensation Section of this Proxy Statement for our CEO, Mr. Dow, for the respective fiscal years shown. (c) “Compensation actually paid” to our CEO in each of 2024, 2023, 2022 and 2021 reflects the respective amounts set forth in column (b) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. “Compensation Actually Paid” may not reflect the actual amount of compensation earned by or paid to the CEO during the applicable year. Allan Dow was CEO for all years presented. For a complete discussion of the Company’s executive compensation program and the Committee’s philosophy and approach, please refer to the Compensation Discussion and Analysis beginning on page 15 The following table is part of footnote (c): Amounts Deducted or Added to CEO Compensation Reported in SCT Equity Addition to SCT Total for CEO Year SCT Total Less Equity Deductions from SCT Value of Current Year Equity Awards at April 30 value Change in value of unvested prior year awards at April 30 Change in value of prior year awards vested in current year Total Equity Addition to SCT Total Compensation Actually Paid (1) (2) (3) (4) (5) 2024 $1,855,940 (1,095,258) 865,302 (496,369) (187,298) 181,635 942,317 2023 2,759,911 (1,597,060) 790,318 (2,012,501) 34,797 (1,187,385) (24,534) 2022 3,825,451 (2,135,283) 1,250,894 (1,060,416) 573,729 764,207 2,454,375 2021 2,524,100 (1,189,495) 2,203,851 630,459 231,630 3,065,940 4,400,545 (1) Represents the grant date fair value of equity-based awards made during each fiscal year. (2) Represents the year-end fair value of equity-based awards that were made during the fiscal year. (3) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that were still unvested as of year-end, with such change in fair value reflecting the change in the year-end stock price during each year. (4) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that vested during the year, with such change in fair value reflecting the change in stock price from the prior fiscal year-end until the vesting date. (5) The amounts in this column are calculated by subtracting the amounts under “Less Equity Deduction from SCT” from, and adding the amounts under “Total Equity Addition to SCT” to, the amounts under “SCT Total” with respect to our CEO. (d) Reflects an average of compensation amounts reported in the “Summary Compensation Table” for our non-CEO named executive officers (“NEOs”), for the respective years shown. Included in the averages for the years shown is compensation for James C. Edenfield and Vincent Klinges. (e) Average “compensation actually paid” for our non-CEO NEOs in each of 2024, 2023, 2022 and 2021 reflects the respective amounts set forth in column (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. Average “Compensation Actually Paid” may not reflect the actual amount of compensation earned by or paid to the NEOs during the applicable year. The following table is part of footnote (e): Amounts Deducted or Added to Non-CEO NEO Average Compensation Reported in SCT Equity Addition to SCT Average for Non-CEO NEOs Year SCT Average Less Equity Deductions from SCT Value of Current Year Equity Awards at April 30 value Change in value of unvested prior year awards at April 30 Change in value of prior year awards vested in current year Total Equity Addition to SCT Average Compensation Actually Paid (1) (2) (3) (4) (5) 2024 $ 756,668 (393,814) 323,801 (165,309) (77,136) 81,356 444,209 2023 1,149,249 (558,971) 276,611 (639,105) 15,508 (346,986) 243,292 2022 1,464,943 (747,349) 437,813 (324,197) 199,674 313,290 1,030,883 2021 1,037,363 (376,673) 697,886 246,220 97,278 1,041,384 1,702,074 (1) Represents the grant date fair value of equity-based awards made during each fiscal year. (2) Represents the year-end fair value of equity-based awards that were made during the fiscal year. (3) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that were still unvested as of year-end, with such change in fair value reflecting the change in the year-end stock price during each year. (4) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that vested during the year, with such change in fair value reflecting the change in stock price from the prior fiscal year-end until the vesting date. (5) The amounts in this column are calculated by subtracting the amounts under “Less Equity Deduction from SCT” from, and adding the amounts under “Total Equity Addition to SCT” to, the amounts under “SCT Average” with respect to our Non-CEO NEOs. (f) For the relevant fiscal year, represents the cumulative total shareholder return (TSR) of the Company for the measurement periods ending on April 30, 2024, 2023, 2022 and 2021, respectively. (g) Based on the NASDAQ Computer Index included in our stock performance graph in our annual report to shareholders. (h) Reflects “Net Income” in the Company’s Consolidated Income Statements included in the Company’s Annual Reports for the measurement periods ending on April 30, 2024, 2023, 2022 and 2021, respectively. (i) Net Income based on continuing operations. (j) The Company-selected measure is Adjusted EBITDA. Adjusted EBITDA represents our GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, and income tax expense, and has been further adjusted to exclude acquisition activity during the year. (k) Adjusted EBITDA based on continuing operations. | | | |
Company Selected Measure Name | Adjusted EBITDA | | | |
Named Executive Officers, Footnote | (b) Reflects compensation amounts reported in the Summary Compensation Table (“SCT”) in the Fiscal 2024 Executive Compensation Section of this Proxy Statement for our CEO, Mr. Dow, for the respective fiscal years shown. (d) Reflects an average of compensation amounts reported in the “Summary Compensation Table” for our non-CEO named executive officers (“NEOs”), for the respective years shown. Included in the averages for the years shown is compensation for James C. Edenfield and Vincent Klinges. | | | |
Peer Group Issuers, Footnote | (g) Based on the NASDAQ Computer Index included in our stock performance graph in our annual report to shareholders. | | | |
PEO Total Compensation Amount | $ 1,855,940 | $ 2,759,911 | $ 3,825,451 | $ 2,524,100 |
PEO Actually Paid Compensation Amount | $ 942,317 | (24,534) | 2,454,375 | 4,400,545 |
Adjustment To PEO Compensation, Footnote | (c) “Compensation actually paid” to our CEO in each of 2024, 2023, 2022 and 2021 reflects the respective amounts set forth in column (b) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. “Compensation Actually Paid” may not reflect the actual amount of compensation earned by or paid to the CEO during the applicable year. Allan Dow was CEO for all years presented. For a complete discussion of the Company’s executive compensation program and the Committee’s philosophy and approach, please refer to the Compensation Discussion and Analysis beginning on page 15 The following table is part of footnote (c): Amounts Deducted or Added to CEO Compensation Reported in SCT Equity Addition to SCT Total for CEO Year SCT Total Less Equity Deductions from SCT Value of Current Year Equity Awards at April 30 value Change in value of unvested prior year awards at April 30 Change in value of prior year awards vested in current year Total Equity Addition to SCT Total Compensation Actually Paid (1) (2) (3) (4) (5) 2024 $1,855,940 (1,095,258) 865,302 (496,369) (187,298) 181,635 942,317 2023 2,759,911 (1,597,060) 790,318 (2,012,501) 34,797 (1,187,385) (24,534) 2022 3,825,451 (2,135,283) 1,250,894 (1,060,416) 573,729 764,207 2,454,375 2021 2,524,100 (1,189,495) 2,203,851 630,459 231,630 3,065,940 4,400,545 (1) Represents the grant date fair value of equity-based awards made during each fiscal year. (2) Represents the year-end fair value of equity-based awards that were made during the fiscal year. (3) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that were still unvested as of year-end, with such change in fair value reflecting the change in the year-end stock price during each year. (4) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that vested during the year, with such change in fair value reflecting the change in stock price from the prior fiscal year-end until the vesting date. (5) The amounts in this column are calculated by subtracting the amounts under “Less Equity Deduction from SCT” from, and adding the amounts under “Total Equity Addition to SCT” to, the amounts under “SCT Total” with respect to our CEO. | | | |
Non-PEO NEO Average Total Compensation Amount | $ 756,668 | 1,149,249 | 1,464,943 | 1,037,363 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 444,209 | 243,292 | 1,030,883 | 1,702,074 |
Adjustment to Non-PEO NEO Compensation Footnote | (e) Average “compensation actually paid” for our non-CEO NEOs in each of 2024, 2023, 2022 and 2021 reflects the respective amounts set forth in column (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. Average “Compensation Actually Paid” may not reflect the actual amount of compensation earned by or paid to the NEOs during the applicable year. The following table is part of footnote (e): Amounts Deducted or Added to Non-CEO NEO Average Compensation Reported in SCT Equity Addition to SCT Average for Non-CEO NEOs Year SCT Average Less Equity Deductions from SCT Value of Current Year Equity Awards at April 30 value Change in value of unvested prior year awards at April 30 Change in value of prior year awards vested in current year Total Equity Addition to SCT Average Compensation Actually Paid (1) (2) (3) (4) (5) 2024 $ 756,668 (393,814) 323,801 (165,309) (77,136) 81,356 444,209 2023 1,149,249 (558,971) 276,611 (639,105) 15,508 (346,986) 243,292 2022 1,464,943 (747,349) 437,813 (324,197) 199,674 313,290 1,030,883 2021 1,037,363 (376,673) 697,886 246,220 97,278 1,041,384 1,702,074 (1) Represents the grant date fair value of equity-based awards made during each fiscal year. (2) Represents the year-end fair value of equity-based awards that were made during the fiscal year. (3) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that were still unvested as of year-end, with such change in fair value reflecting the change in the year-end stock price during each year. (4) Represents the change in fair value during the fiscal year of equity-based awards granted in prior fiscal years that vested during the year, with such change in fair value reflecting the change in stock price from the prior fiscal year-end until the vesting date. (5) The amounts in this column are calculated by subtracting the amounts under “Less Equity Deduction from SCT” from, and adding the amounts under “Total Equity Addition to SCT” to, the amounts under “SCT Average” with respect to our Non-CEO NEOs. | | | |
Compensation Actually Paid vs. Total Shareholder Return | Analysis of the Information Presented in the Pay versus Performance Table As demonstrated by the following table, the amount of Compensation Actually Paid to our CEO is aligned with our cumulative total shareholder return (“TSR”) over the three years presented in the table. The alignment of Compensation Actually Paid with the Company’s cumulative TSR over the period presented is because a significant portion of the Compensation Actually Paid to our CEO is comprised of equity awards. Relationships between Pay and Performance 2021 2022 2023 2024 CEO Compensation Actually Paid (in millions) $ 4.4 $ 2.5 ($ 0.0) $ 0.9 Average NEO Compensation Actually Paid (in millions) $ 1.7 $ 1.0 $ 0.2 $ 0.4 Company Net Income (in millions) $ 8.1 $12.8 $10.4 $11.4 % Yearly Change 20% 58% -19% 10% Company Adjusted EBITDA (in millions) $10.0 $17.3 $13.7 $ 8.5 % Yearly Return -15% 73% -21% -38% Company Total Shareholder Return $ 129 $ 108 $ 78 $ 69 % Yearly Return 29% -16% -28% -12% 3 year CAGR -31% Peer Total Shareholder Return $ 163 $ 159 $ 166 $ 241 % Yearly Return 63% -2% 4% 45% 3 year CAGR 80% Because a majority of total compensation provided to the CEO and the Non-CEO NEOs is through equity-based grants that vest over multi-year periods, the primary driver of changes in “Compensation Actually Paid” totals for the CEO and Non-CEO NEOs is the change in Company stock price. During fiscal 2021, our stock price increased 29% during the year with stock price increases resulting in higher “Compensation Actually Paid” values for the CEO and Non-CEO NEOs. During fiscal 2023 and fiscal 2024, our stock price declined by 28% and 12%, respectively, compared to a return of 4% and 45% for the NASDAQ Computer Index. We closed fiscal 2023 and fiscal 2024 decreasing Adjusted EBITDA when compared to fiscal 2022 so our stock price changes resulted in 2023 and 2024 “Compensation Actually Paid” values for the CEO and average NEO that were lower than those values in 2022. With the emphasis on annual equity-based grants that vest over multi-year periods for the CEO and our other Non-CEO NEOs, the Compensation Committee believes that compensation value actually realized by the Company’s officers is directly and strongly aligned with shareholder returns over a multi-year period. | | | |
Compensation Actually Paid vs. Net Income | Analysis of the Information Presented in the Pay versus Performance Table As demonstrated by the following table, the amount of Compensation Actually Paid to our CEO is aligned with our cumulative total shareholder return (“TSR”) over the three years presented in the table. The alignment of Compensation Actually Paid with the Company’s cumulative TSR over the period presented is because a significant portion of the Compensation Actually Paid to our CEO is comprised of equity awards. Relationships between Pay and Performance 2021 2022 2023 2024 CEO Compensation Actually Paid (in millions) $ 4.4 $ 2.5 ($ 0.0) $ 0.9 Average NEO Compensation Actually Paid (in millions) $ 1.7 $ 1.0 $ 0.2 $ 0.4 Company Net Income (in millions) $ 8.1 $12.8 $10.4 $11.4 % Yearly Change 20% 58% -19% 10% Company Adjusted EBITDA (in millions) $10.0 $17.3 $13.7 $ 8.5 % Yearly Return -15% 73% -21% -38% Company Total Shareholder Return $ 129 $ 108 $ 78 $ 69 % Yearly Return 29% -16% -28% -12% 3 year CAGR -31% Peer Total Shareholder Return $ 163 $ 159 $ 166 $ 241 % Yearly Return 63% -2% 4% 45% 3 year CAGR 80% Because a majority of total compensation provided to the CEO and the Non-CEO NEOs is through equity-based grants that vest over multi-year periods, the primary driver of changes in “Compensation Actually Paid” totals for the CEO and Non-CEO NEOs is the change in Company stock price. During fiscal 2021, our stock price increased 29% during the year with stock price increases resulting in higher “Compensation Actually Paid” values for the CEO and Non-CEO NEOs. During fiscal 2023 and fiscal 2024, our stock price declined by 28% and 12%, respectively, compared to a return of 4% and 45% for the NASDAQ Computer Index. We closed fiscal 2023 and fiscal 2024 decreasing Adjusted EBITDA when compared to fiscal 2022 so our stock price changes resulted in 2023 and 2024 “Compensation Actually Paid” values for the CEO and average NEO that were lower than those values in 2022. With the emphasis on annual equity-based grants that vest over multi-year periods for the CEO and our other Non-CEO NEOs, the Compensation Committee believes that compensation value actually realized by the Company’s officers is directly and strongly aligned with shareholder returns over a multi-year period. | | | |
Compensation Actually Paid vs. Company Selected Measure | Analysis of the Information Presented in the Pay versus Performance Table As demonstrated by the following table, the amount of Compensation Actually Paid to our CEO is aligned with our cumulative total shareholder return (“TSR”) over the three years presented in the table. The alignment of Compensation Actually Paid with the Company’s cumulative TSR over the period presented is because a significant portion of the Compensation Actually Paid to our CEO is comprised of equity awards. Relationships between Pay and Performance 2021 2022 2023 2024 CEO Compensation Actually Paid (in millions) $ 4.4 $ 2.5 ($ 0.0) $ 0.9 Average NEO Compensation Actually Paid (in millions) $ 1.7 $ 1.0 $ 0.2 $ 0.4 Company Net Income (in millions) $ 8.1 $12.8 $10.4 $11.4 % Yearly Change 20% 58% -19% 10% Company Adjusted EBITDA (in millions) $10.0 $17.3 $13.7 $ 8.5 % Yearly Return -15% 73% -21% -38% Company Total Shareholder Return $ 129 $ 108 $ 78 $ 69 % Yearly Return 29% -16% -28% -12% 3 year CAGR -31% Peer Total Shareholder Return $ 163 $ 159 $ 166 $ 241 % Yearly Return 63% -2% 4% 45% 3 year CAGR 80% Because a majority of total compensation provided to the CEO and the Non-CEO NEOs is through equity-based grants that vest over multi-year periods, the primary driver of changes in “Compensation Actually Paid” totals for the CEO and Non-CEO NEOs is the change in Company stock price. During fiscal 2021, our stock price increased 29% during the year with stock price increases resulting in higher “Compensation Actually Paid” values for the CEO and Non-CEO NEOs. During fiscal 2023 and fiscal 2024, our stock price declined by 28% and 12%, respectively, compared to a return of 4% and 45% for the NASDAQ Computer Index. We closed fiscal 2023 and fiscal 2024 decreasing Adjusted EBITDA when compared to fiscal 2022 so our stock price changes resulted in 2023 and 2024 “Compensation Actually Paid” values for the CEO and average NEO that were lower than those values in 2022. With the emphasis on annual equity-based grants that vest over multi-year periods for the CEO and our other Non-CEO NEOs, the Compensation Committee believes that compensation value actually realized by the Company’s officers is directly and strongly aligned with shareholder returns over a multi-year period. | | | |
Total Shareholder Return Vs Peer Group | Analysis of the Information Presented in the Pay versus Performance Table As demonstrated by the following table, the amount of Compensation Actually Paid to our CEO is aligned with our cumulative total shareholder return (“TSR”) over the three years presented in the table. The alignment of Compensation Actually Paid with the Company’s cumulative TSR over the period presented is because a significant portion of the Compensation Actually Paid to our CEO is comprised of equity awards. Relationships between Pay and Performance 2021 2022 2023 2024 CEO Compensation Actually Paid (in millions) $ 4.4 $ 2.5 ($ 0.0) $ 0.9 Average NEO Compensation Actually Paid (in millions) $ 1.7 $ 1.0 $ 0.2 $ 0.4 Company Net Income (in millions) $ 8.1 $12.8 $10.4 $11.4 % Yearly Change 20% 58% -19% 10% Company Adjusted EBITDA (in millions) $10.0 $17.3 $13.7 $ 8.5 % Yearly Return -15% 73% -21% -38% Company Total Shareholder Return $ 129 $ 108 $ 78 $ 69 % Yearly Return 29% -16% -28% -12% 3 year CAGR -31% Peer Total Shareholder Return $ 163 $ 159 $ 166 $ 241 % Yearly Return 63% -2% 4% 45% 3 year CAGR 80% Because a majority of total compensation provided to the CEO and the Non-CEO NEOs is through equity-based grants that vest over multi-year periods, the primary driver of changes in “Compensation Actually Paid” totals for the CEO and Non-CEO NEOs is the change in Company stock price. During fiscal 2021, our stock price increased 29% during the year with stock price increases resulting in higher “Compensation Actually Paid” values for the CEO and Non-CEO NEOs. During fiscal 2023 and fiscal 2024, our stock price declined by 28% and 12%, respectively, compared to a return of 4% and 45% for the NASDAQ Computer Index. We closed fiscal 2023 and fiscal 2024 decreasing Adjusted EBITDA when compared to fiscal 2022 so our stock price changes resulted in 2023 and 2024 “Compensation Actually Paid” values for the CEO and average NEO that were lower than those values in 2022. With the emphasis on annual equity-based grants that vest over multi-year periods for the CEO and our other Non-CEO NEOs, the Compensation Committee believes that compensation value actually realized by the Company’s officers is directly and strongly aligned with shareholder returns over a multi-year period. | | | |
Tabular List, Table | Financial Performance Measures As further discussed in our Compensation Discussion and Analysis, with performance-based pay comprising the majority of executive compensation, we believe our current executive compensation program directly links compensation to our financial performance and aligns the interests of our executive officers with those of our shareholders. The following table sets forth financial performance measures that we considered to be the most important to link compensation actually paid to Company performance during 2024. Key Financial Measures Revenue Recurring Revenue Adjusted EBITDA | | | |
Total Shareholder Return Amount | $ 69 | 78 | 108 | 129 |
Peer Group Total Shareholder Return Amount | 241 | 166 | 159 | 163 |
Net Income (Loss) | $ 11,400,000 | $ 10,400,000 | $ 12,800,000 | $ 8,100,000 |
Company Selected Measure Amount | 8,500,000 | 13,700,000 | 17,300,000 | 10,000,000 |
PEO Name | Mr. Dow | Mr. Dow | Mr. Dow | Mr. Dow |
Measure:: 1 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Revenue | | | |
Measure:: 2 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Recurring Revenue | | | |
Measure:: 3 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Adjusted EBITDA | | | |
Non-GAAP Measure Description | (j) The Company-selected measure is Adjusted EBITDA. Adjusted EBITDA represents our GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, and income tax expense, and has been further adjusted to exclude acquisition activity during the year. | | | |
PEO | Equity Deductions from SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (1,095,258) | $ (1,597,060) | $ (2,135,283) | $ (1,189,495) |
PEO | Total Equity Addition to SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 181,635 | (1,187,385) | 764,207 | 3,065,940 |
PEO | Value of Current Year Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 865,302 | 790,318 | 1,250,894 | 2,203,851 |
PEO | Change in Value of Unvested Prior Year Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (496,369) | (2,012,501) | (1,060,416) | 630,459 |
PEO | Change in Value of Prior Year Awards Vested in Current Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (187,298) | 34,797 | 573,729 | 231,630 |
Non-PEO NEO | Equity Deductions from SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (393,814) | (558,971) | (747,349) | (376,673) |
Non-PEO NEO | Total Equity Addition to SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 81,356 | (346,986) | 313,290 | 1,041,384 |
Non-PEO NEO | Value of Current Year Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 323,801 | 276,611 | 437,813 | 697,886 |
Non-PEO NEO | Change in Value of Unvested Prior Year Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (165,309) | (639,105) | (324,197) | 246,220 |
Non-PEO NEO | Change in Value of Prior Year Awards Vested in Current Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (77,136) | $ 15,508 | $ 199,674 | $ 97,278 |