GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jan. 31, 2024

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

Changes in goodwill during the fiscal years ended January 31, 2024 and 2023, were as follows (in $000s):

	2024		2023
Balance at February 1	$	8,473	$	871
Measurement period adjustment		1,447	----
Acquisitions		3,749		7,602
Balance at January 31	$	13,669	$	8,473

During FY24, a measurement period adjustment was recorded to recognize deferred tax liabilities of $1.4 million associated with the finite-lived intangibles acquired in the Eagle acquisition, with a corresponding increase to goodwill.

Changes in intangible assets during the fiscal years ended January 31, 2024 and 2023, were as follows (in $000s):

	2024			2023
Balance at February 1	$	6,042		$	----
Acquisitions		1,211			6,109
Amortization		(423	)		(67	)
Balance at January 31	$	6,830		$	6,042

		January 31, 2024							January 31, 2023
Intangible Assets (in $000s)	Weighted Average Life in Years	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	15	$	3,558	$	(267	)	$	3,291	$	3,283	$	(37	)	$	3,246
Trade names and trademarks	15		1,773		(109	)		1,664		1,333		(15	)		1,318
Technological know-how	15		1,989		(114	)		1,875		1,493		(15	)		1,478
Total		$	7,320	$	(490	)	$	6,830	$	6,109	$	(67	)	$	6,042

Intangible asset amortization expense over the next five years is expected to be approximately $0.5 million per year.