Note 8 - Leases

12 Months Ended

Jan. 31, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

8. Leases

The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Singapore, Malaysia and United Kingdom. Our lease obligation in Canada was terminated as of March 31, 2022 and our lease obligation in Hungary was terminated as of October 31, 2022.

Lease expense for the twelve months ended  January 31, 2024 and 2023 was approximately $831,000 and $858,000, respectively, and was recorded as a component of operating income (loss). Included in these costs was short-term lease expense of approximately $8,000 and $6,000 for the twelve months ended January 31, 2024 and 2023, respectively.

Supplemental balance sheet information related to leases as of  January 31, 2024 and 2023 was as follows (in thousands):

	As of January 31,
Lease	2024		2023
Assets
Operating lease right-of-use assets	$	1,324	$	1,749
Liabilities
Operating lease liabilities	$	1,324	$	1,749
Classification of lease liabilities
Current liabilities	$	751	$	903
Non-current liabilities		573		846
Total Operating lease liabilities	$	1,324	$	1,749

Lease-term and discount rate details as of  January 31, 2024 and 2023 were as follows:

	As of January 31,
Lease term and discount rate	2024			2023
Weighted average remaining lease term (years)
Operating leases		1.40			1.98
Weighted average discount rate:
Operating leases		13	%		13	%

Supplemental cash flow information related to leases on  January 31, 2024 and 2023 was as follows (in thousands):

	As of January 31,
Lease	2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(831	)	$	(858	)
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	409		$	819

Maturities of lease liabilities on  January 31, 2024 and 2023 were as follows (in thousands):

	As of January 31,
	2024			2023
2025	$	753		$	903
2026		343			574
2027		235			274
2028		232			188
2029		34			188
Thereafter		—			16
Total payments under lease agreements	$	1,597		$	2,143
Less: imputed interest		(273	)		(394	)
Total lease liabilities	$	1,324		$	1,749