Leases

9 Months Ended

Nov. 02, 2024

Leases [Abstract]

Leases

Note 12 – Leases

We enter into lease contracts for certain of our facilities at various locations worldwide. Our leases have remaining lease terms of one to ten years, some of which include options to extend the lease term for periods of up to five years when it is reasonably certain that we will exercise such options.

Balance sheet and other information related to our leases is as follows:

Operating Leases (In thousands)	Balance Sheet Classification	November 2, 2024		January 31, 2024
Lease Assets	Right of Use Assets	$	1,946	$	603
Lease Liabilities – Current	Other Accrued Expenses	$	347	$	233
Lease Liabilities – Long Term	Lease Liabilities	$	1,681	$	415

Lease cost information is as follows:

		Three Months Ended
Operating Leases (In thousands)	Statement of Income Classification	November 2, 2024		October 28, 2023
Operating Lease Costs	General and Administrative Expense	$	196	$	103
		Nine Months Ended
Operating Leases (In thousands)	Statement of Income Classification	November 2, 2024		October 28, 2023
Operating Lease Costs	General and Administrative Expense	$	465	$	362

Maturities of operating lease liabilities are as follows:

(In thousands)	November 2, 2024
Fiscal 2025, remaining	$	123
Fiscal 2026		454
Fiscal 2027		410
Fiscal 2028		350
Fiscal 2029		254
Thereafter		922
Total Lease Payments		2,513
Less: Imputed Interest		(485	)
Total Lease Liabilities	$	2,028

As of November 2, 2024, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 7.1 years and 5.93%, respectively. We calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that we would pay to borrow funds on a fully collateralized basis over a similar term.

Supplemental cash flow information related to leases is as follows:

	Three Months Ended
(In thousands)	November 2, 2024		October 28, 2023
Cash paid for operating lease liabilities	$	81	$	91
	Nine Months Ended
(In thousands)	November 2, 2024		October 28, 2023
Cash paid for operating lease liabilities	$	255	$	268