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Income Taxes (Tables)
12 Months Ended
Oct. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of Loss Before Provision for Income Taxes

Loss before provision for income taxes consisted of the following:

 

 

Year ended October 31,

 

 

2025

 

 

2024

 

Domestic (Canada)

 

$

(103,727

)

 

$

(53,460

)

Foreign (US)

 

 

(13,575

)

 

 

(1,701

)

Loss before income taxes

 

$

(117,302

)

 

$

(55,161

)

Summary Of Components Of The Provision For (Recovery Of) Income Taxes

The components of the provision for (recovery of) income taxes is as follows:

 

 

Year ended October 31,

 

 

2025

 

 

2024

 

Current expense (benefit):

 

 

 

 

 

 

Domestic (Canada)

 

$

 

 

$

 

Foreign (US)

 

 

 

 

 

(19

)

Total current expense (benefit)

 

 

 

 

 

(19

)

 

 

 

 

 

 

 

Deferred expense (benefit)

 

 

 

 

 

 

Domestic (Canada)

 

 

 

 

 

 

Foreign (US)

 

 

 

 

 

 

Total deferred tax expense (benefit)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total income tax expense (benefit)

 

$

 

 

$

(19

)

Summary Of Reconciliation Of Company's Statutory Income Tax Rate

A reconciliation of the Company's statutory income tax rate to the Company's effective income tax rate is as follows:

 

 

Year ended October 31,

 

 

2025

 

 

2024

 

Income at Canadian statutory rate

 

 

26.50

%

 

 

26.50

%

State taxes, net of federal benefit

 

 

0.66

%

 

 

0.18

%

Permanent differences

 

 

(0.29

)%

 

 

(2.77

)%

Tax credits

 

 

0.60

%

 

 

1.07

%

Foreign rate differential

 

 

(0.64

)%

 

 

(0.17

)%

Valuation allowance

 

 

(26.82

)%

 

 

(25.02

)%

Other

 

 

(0.01

)%

 

 

0.24

%

 

 

(0.00

)%

 

 

0.03

%

Summary Of Net Deferred Income Tax

The net deferred income tax balances related to the following:

 

 

 

October 31,

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

R&D expenditures

 

 

10,021

 

 

 

8,172

 

Net operating loss (NOL) carryforwards

 

 

61,127

 

 

 

31,661

 

Capital loss carryforwards

 

 

285

 

 

 

97

 

Investment tax credits, net

 

 

2,688

 

 

 

1,934

 

Property and equipment

 

 

270

 

 

 

704

 

Financing costs

 

 

4,000

 

 

 

5,452

 

Accruals

 

 

924

 

 

 

747

 

Operating lease liability

 

 

2,270

 

 

 

404

 

Note payable

 

 

15

 

 

 

197

 

Stock-based compensation

 

 

894

 

 

 

 

Other

 

 

 

 

 

1

 

Total deferred tax assets

 

 

82,494

 

 

 

49,369

 

Deferred tax liabilities:

 

 

 

 

 

 

Operating lease-right of use asset

 

 

(2,068

)

 

 

(377

)

Total deferred tax liabilities

 

 

(2,068

)

 

 

(377

)

Valuation allowance

 

 

(80,426

)

 

 

(48,992

)

Net deferred tax assets (liability)