Significant Accounting Policies (Policies)

6 Months Ended

Jul. 31, 2024

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Significant New Accounting Policies

Refer to the Company's Annual Report on Form 10-K for the year ended January 31, 2024 as filed with the SEC on April 26, 2024 for discussion of the Company's significant accounting policies.

During the six months ended July 31, 2024, the Company did not adopt or make changes to any new or existing accounting policies.

Reclassification, Comparability Adjustment [Policy Text Block]

Restatement and Revision of Previously Issued Financial Statements

During the six months ended July 31, 2024, the Company identified and corrected certain errors relating to (1) a subsidiary in the Middle East incorrectly recording a duplicate invoice related to the purchase of property, plant, and equipment ("PP&E"), resulting in an overstatement of PP&E and trade accounts payable of $1.4 million on the consolidated balance sheet and a corresponding overstatement of net cash provided by operating activities and net cash used in investing activities in the consolidated statement of cash flows during the three months ended April 30, 2024, and (2) certain intercompany transactions related to asset transfers in the Middle East that were not appropriately eliminated in the Company's unaudited consolidated financial statements during the six months ended July 31, 2024. The failure to appropriately eliminate these intercompany transactions resulted in the following errors in the Company's unaudited consolidated financial statements:

• An overstatement of trade accounts receivable of $0.4 million and a corresponding understatement of PP&E on the consolidated balance sheet.

• An understatement of net cash provided by operating activities of $0.4 million and a corresponding overstatement in effect of exchange rate changes in the consolidated statement of cash flows.

• An overstatement of net cash used in investing activities of $0.5 million and corresponding overstatement in effect of exchange rate changes in the consolidated statement of cash flows.

The following tables summarize the impact of these corrections as of and for the periods presented:

	July 31, 2024
Consolidated Balance Sheet	As Reported		Adjustment			As Restated
Trade accounts receivable, less allowance for credit losses	$	39,927	$	(362	)	$	39,565
Total current assets	$	100,763	$	(362	)	$	100,401
Property, plant and equipment, net of accumulated depreciation	$	37,518	$	(1,061	)	$	36,457
Total assets	$	159,187	$	(1,423	)	$	157,764
Trade accounts payable	$	21,411		(1,423	)	$	19,988
Total current liabilities	$	56,471	$	(1,423	)	$	55,048

	July 31, 2024
Consolidated Statement of Cash Flows	As Reported			Adjustment			As Restated
Operating activities
Loss (gain) from disposal of fixed assets	$	29		$	(29	)	$	-
Accounts receivable		6,090			364			6,454
Net cash provided by operating activities	$	3,832		$	(1,088	)	$	2,744
Capital expenditures	$	(3,180	)	$	1,947		$	(1,233	)
Net cash used in investing activities	$	(3,180	)	$	1,947		$	(1,233	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$	753		$	(859	)	$	(106	)

	April 30, 2024
Consolidated Balance Sheet	As Reported		Adjustment			As Revised
Property, plant and equipment, net of accumulated depreciation	$	38,211	$	(1,423	)	$	36,788
Total assets	$	157,163	$	(1,423	)	$	155,740
Trade accounts payable	$	24,672		(1,423	)	$	23,249
Total current liabilities	$	59,410	$	(1,423	)	$	57,987

	April 30, 2024
Consolidated Statement of Cash Flows	As Reported			Adjustment			As Revised
Operating activities
Accounts payable		(268	)		(1,423	)		(1,691	)
Net cash provided by operating activities	$	1,350		$	(1,423	)	$	(73	)
Investing activities
Capital expenditures	$	(2,012	)	$	1,423		$	(589	)
Net cash used in investing activities	$	(2,012	)	$	1,423		$	(589	)

Management evaluated the impact on the unaudited consolidated financial statements as of and for the three months ended April 30, 2024, and determined that the impact was not material. Accordingly, management will revise the unaudited consolidated financial statements as of and for the three months ended April 30, 2024, the next time such consolidated financial statements are filed which will be in connection with the issuance of the Quarterly Report on Form 10-Q for the three months ended April 30, 2025.