XML 33 R22.htm IDEA: XBRL DOCUMENT v3.24.4
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Oct. 31, 2024
Accounting Policies [Abstract]  
Schedule of Inventories
Inventories by major category are as follows (in thousands):
 October 31, 2024January 31, 2024
Raw materials and packaging$1,316 $1,159 
Work in process330 237 
Finished goods1,544 1,914 
Total$3,190 $3,310 
Schedule of Asset Lives
Asset lives for financial statement reporting of depreciation expense are:
Machinery and equipment
2-7 years
Furniture and fixtures
3-5 years
Leasehold improvements*
(*)Amortized on a straight-line basis over the shorter of the remaining lease term at the time the assets were placed in service or their estimated useful lives.
Schedule of Other Intangible Assets
Other intangible assets consist of trademarks, trade names and customer relationships. Intangible asset lives for financial statement reporting of amortization are:
Tradenames and trademarks3 years
Customer relationships
4 – 5 years
Schedule of Expenses of Slotting Fees, Sales Discounts, and Variable Considerations
Expenses such as slotting fees, sales discounts, and variable considerations are accounted for as a direct reduction of revenues as follows (in thousands):
 For the Three Months Ended
 October 31, 2024October 31, 2023
Gross Sales$32,333 $29,294 
Less: Trade Incentives and Promotions810 646 
Net Sales$31,523 $28,648 
For the Nine Months Ended
October 31, 2024October 31, 2023
Gross Sales$91,435 $78,309 
Less: Trade Incentives and Promotions1,692 1,750 
Net Sales$89,743 $76,559 
Schedule of Disaggregates Gross Revenue by Significant Geographic Area The following table disaggregates gross revenue by significant geographic area for the three months ended October 31, 2024 and 2023 (in thousands):
 For the Three Months Ended
 October 31, 2024October 31, 2023
Northeast$8,277 $9,317 
Southeast8,763 8,225 
Midwest7,049 6,116 
West8,244 5,636 
Total gross sales$32,333 $29,294 

For the Nine Months Ended
October 31, 2024October 31, 2023
Northeast$26,534 $27,267 
Southeast24,470 22,113 
Midwest19,201 14,371 
West21,230 14,558 
Total gross sales$91,435 $78,309 
Schedule of Reconciliation of Basic and Diluted Earnings Per Share to Net Income
The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net income attributable to common stockholders per common share (in thousands, except per share data):
 For the Three Months Ended
 October 31, 2024October 31, 2023
Numerator:  
Net income attributable to common stockholders$410 2,009 
Effect of dilutive securities:— — 
   
Diluted net income$410 $2,009 
 
Denominator:
Weighted average common shares outstanding – basic37,52237,121
Dilutive securities (a):
Restricted stock266447
Performance stock awards1,600—
Options5478
 
Weighted average common shares outstanding and assumed conversion – diluted39,44237,646
   
Basic net income per common share$0.01 $0.05 
   
Diluted net income per common share$0.01 $0.05 
   
(a) – Anti-dilutive securities excluded——
For the Nine Months Ended
October 31, 2024October 31, 2023
Numerator:
Net income attributable to common stockholders$2,111 $5,104 
Effect of dilutive securities:— 49 
Diluted net income$2,111 $5,153 
Denominator:
Weighted average common shares outstanding – basic37,37336,642
Dilutive securities (a):
Restricted stock238384
Options5062
Performance stock awards1,600— 
Weighted average common shares outstanding and assumed conversion – diluted39,26137,088
Basic net income per common share$0.06 $0.14 
Diluted net income per common share$0.05 $0.14 
(a) – Anti-dilutive securities excluded— — 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The Company's financial assets that were accounted for at fair value on a recurring basis as of October 31, 2024 and January 31, 2024 were as follows (in thousands):


October 31, 2024January 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents$9,168 $— $— $9,168 $10,912 $— $— $10,912 
Total$9,168 $— $— $9,168 $10,912 $— $— $10,912