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Stockholders’ Equity | 3 Months Ended
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Apr. 30, 2025
Equity [Abstract] |
Stockholders’ Equity | Stockholders’ Equity Restricted Stock Units RSUs generally vest on a graded basis over three years to four years of service. The terms of the RSUs include vesting provisions based solely on continued service. The following is a summary of the Company’s RSU activity:
| Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Non-vested restricted stock units - February 1, 2025 | 367,557 |  | $ | 2.85 |
Granted | 94,200 |  | $ | 6.37 |
Vested | (8,010) |  | $ | 7.49 |
Forfeited | (4,167) |  | $ | 6.00 |
Outstanding – April 30, 2025 | 449,580 |  | $ | 3.48 |
During the three months ended April 30, 2025, the Company recognized stock-based compensation expense related to restricted stock units of an aggregate of approximately $152 thousand, compared to approximately $114 thousand for the three months ended April 30, 2024. The restricted stock expense was recorded to selling, general and administrative expenses or cost of goods sold depending on the nature of the related employee's expense on the Condensed Consolidated Statement of Operations. As of April 30, 2025, there was unrecognized stock-based compensation of approximately $1.3 million related to future vesting of restricted stock units. Options The following is a summary of the Company’s option activity:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding – February 1, 2025 | 103,806 |  | $ | 3.76 |  |  | 8.22 |  | $ | 409 |
Granted | - |  | $ | - |  |  |  |  |
Exercised | - |  | $ | - |  |  |  |  |
Expired/forfeited | - |  | $ | - |  |  |  |  |
Outstanding – April 30, 2025 | 103,806 |  | $ | 3.76 |  |  | 7.97 |  | $ | 333 |
Exercisable – April 30, 2025 | - |  | $ | - |  |  | 0.00 |  | $ | - |
The Company values stock options using the Black-Scholes option pricing model. The grants are amortized on a straight-line basis over the requisite service period, which is generally the vesting period. If an award is granted, but vesting does not occur, any previously recognized compensation cost is reversed in the period related to the termination of service. For the three months ended April 30, 2025, the Company recognized stock-based compensation expense related to options of approximately $22 thousand compared to $(1) thousand for the three months ended April 30, 2024. The stock-based compensation expense related to the options is included in selling, general and administrative expenses on the accompanying Condensed Consolidated Statements of Operations. During the three months ended April 30, 2024, certain employees and contractors resigned from the Company, which resulted in the reversal of approximately $11 thousand of previously recognized stock-based compensation expense. At April 30, 2025, there was unrecognized stock-based compensation expense related to the issuance of options of approximately $169 thousand. Performance Stock Units During the three months ended April 30, 2025, the Company granted to its Chief Executive Officer PSUs with a target payout of 94,200 shares of common stock. The PSU award is eligible to vest and settle into between 50% and 110% of the target shares based on the Company's actual performance against threshold, target, and maximum adjusted EBITDA. The PSUs were valued at approximately $600 thousand during the three months ending April 30, 2025. No outstanding PSUs vested in the three months ended April 30, 2025. During each of the three months ended April 30, 2025 and April 30, 2024, the Company recognized stock-based compensation expense related to PSUs of approximately $130 thousand. The stock-based compensation expense related to the PSUs is included in selling, general and administrative expenses on the accompanying Condensed Consolidated Statements of Operations. Equity issuances On May 15, 2024, the Company entered into a Settlement Agreement with directors Steven Burns, Alfred D’Agostino, Dean Janeway and Thomas Toto, relating to certain options purported to have been granted by the Company in 2018 and 2019 (the "Purported Options") under prior management that exceeded the availability under the Company’s equity plan at the time of the purported grants. In exchange for a release of any and all claims or rights related to the Purported Options, the Company agreed to issue each of the directors a payment of approximately $113 thousand and approximately 17 thousand shares of common stock. In connection with the Settlement Agreement and the issuance of the shares, the Company incurred a one-time charge of approximately $900 thousand within selling, general and administrative expense in the three months ended April 30, 2024.

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