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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2023
Income Taxes |
Summary of Income Tax Provision (Benefit) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | (387) | ​ | $ | 2,012 | ​ | $ | (3,449) | ​
State | ​ |  | 280 | ​ |  | 147 | ​ |  | 323 | ​
Foreign | ​ |  | 1,143 | ​ |  | 1,209 | ​ |  | 16,703 | ​
Total current | ​ |  | 1,036 | ​ |  | 3,368 | ​ |  | 13,577 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | (468) | ​ |  | (162) | ​ |  | 790 | ​
State | ​ |  | (337) | ​ |  | 746 | ​ |  | (343) | ​
Foreign | ​ |  | 2,656 | ​ |  | (701) | ​ |  | (3,934) | ​
Total deferred | ​ |  | 1,851 | ​ |  | (117) | ​ |  | (3,487) | ​
Change in valuation allowance | ​ | ​ | 3,055 | ​ | ​ | — | ​ | ​ | 657 | ​
Total income tax provision | ​ | $ | 5,942 | ​ | $ | 3,251 | ​ | $ | 10,747 | ​
Schedule of loss before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Domestic | ​ | $ | (8,741) | ​ | $ | (1,411) | ​ | $ | (4,959)
Foreign | ​ | ​ | 6,716 | ​ | ​ | (1,940) | ​ | ​ | 3,784
Income (loss) before taxes | ​ | $ | (2,025) | ​ | $ | (3,351) | ​ | $ | (1,175)
Components of Deferred Taxes | Significant components of our deferred tax assets (liabilities) as of October 31, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Intangible assets | ​ | $ | 941 | ​ | $ | 2,828 | ​
Stock-based compensation | ​ |  | 316 | ​ |  | 715 | ​
State taxes | ​ |  | 7 | ​ |  | 6 | ​
Allowance for accounts receivable | ​ | ​ | 1,276 | ​ | ​ | 936 | ​
Inventories | ​ | ​ | 591 | ​ | ​ | 442 | ​
Accrued liabilities | ​ | ​ | 2,238 | ​ | ​ | 1,143 | ​
Operating lease liabilities | ​ | ​ | 14,444 | ​ | ​ | 14,861 | ​
Net operating loss | ​ | ​ | 4,109 | ​ | ​ | 549 | ​
Capital loss carryover | ​ | ​ | 806 | ​ | ​ | 804 | ​
Credits and incentives | ​ |  | 1,099 | ​ |  | 1,194 | ​
Total deferred income tax assets | ​ | ​ | 25,827 | ​ | ​ | 23,478 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property, plant, and equipment | ​ |  | (6,340) | ​ |  | (2,002) | ​
Operating lease - right of use assets | ​ | ​ | (12,111) | ​ | ​ | (13,723) | ​
Other | ​ |  | (227) | ​ |  | (490) | ​
Total deferred income tax liabilities | ​ | ​ | (18,678) | ​ | ​ | (16,215) | ​
Valuation allowance | ​ | ​ | (4,885) | ​ | ​ | (1,830) | ​
Net deferred income tax assets | ​ | $ | 2,264 | ​ | $ | 5,433 | ​
​ The Company’s net deferred income tax assets as presented in the consolidated balance sheets consists of the following items as of October 31, (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended October 31,
​ | ​ | 2023 | ​ | 2022
Deferred income tax assets | ​ | $ | 3,010 | ​ | $ | 5,433
Deferred income tax liabilities | ​ | ​ | (746) | ​ | ​ | —
Net deferred income tax assets | ​ | $ | 2,264 | ​ | $ | 5,433
Reconciliation of effective tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal statutory tax rate |  | 21.0 | % | 21.0 | % | 21.0 | %
State taxes, net of federal effects |  | 0.9 | ​ | (1.3) | ​ | 11.6 | ​
Rate differential on NOL carryback | ​ | — | ​ | — | ​ | 125.8 | ​
Foreign tax rate differential |  | (29.8) | ​ | 5.2 | ​ | 16.1 | ​
Uncertain tax positions |  | — | ​ | 5.1 | ​ | (1,059.9) | ​
Stock based compensation |  | (26.3) | ​ | (6.1) | ​ | (16.7) | ​
Provision to return | ​ | (12.3) | ​ | (59.9) | ​ | 39.2 | ​
US tax on foreign income, net | ​ | (15.8) | ​ | — | ​ | — | ​
State rate change |  | 0.9 | ​ | (2.5) | ​ | 9.2 | ​
Valuation allowance | ​ | (150.7) | ​ | (24.2) | ​ | (44.1) | ​
Limits on executive compensation | ​ | (21.6) | ​ | — | ​ | — | ​
Other permanent differences | ​ | (19.1) | ​ | (33.8) | ​ | — | ​
Other |  | (40.6) | ​ | (0.5) | ​ | (15.5) | ​
​ |  | (293.4) | % | (97.0) | % | (913.3) | %
Reconciliation of unrecognized taxes | A reconciliation of the beginning and ending amount of gross unrecognized taxes (exclusive of interest and penalties) was as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended October 31,
​ | ​ | 2023 | ​ | 2022
Beginning balance | ​ | $ | 11,131 | ​ | $ | 11,303
Reductions based on tax positions related to prior periods | ​ | ​ | — | ​ | ​ | (172)
Gross increase - Tax positions in prior periods | ​ |  | — | ​ |  | —
Gross increase - Tax positions in current period | ​ |  | — | ​ |  | —
Ending balance | ​ | $ | 11,131 | ​ | $ | 11,131

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