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Subsequent Events | 12 Months Ended
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Oct. 31, 2024
Subsequent Events |
Subsequent Events | Note 22. Subsequent Events Global Restructuring ​ On November 15, 2024, the Company announced a global restructuring of its operations in the U.S., Canada and Germany that aims to reduce operating costs, realign resources toward advancing the Company’s core technologies, and protect the Company’s competitive position amid slower-than-expected investments in clean energy. In connection with the restructuring plan, the Company reduced its workforce by approximately 13% or 75 employees in November 2024. ​ The actions under the restructuring plan are expected to be substantially completed by the end of the first quarter of fiscal year 2025. In connection with the restructuring plan and workforce reduction, the Company estimates it will incur aggregate restructuring-related costs and charges of approximately $1.7 million to $2.0 million in cash costs related to severance payments and other employee termination benefits. These charges are expected to be recorded in the first quarter of fiscal year 2025. ​ Groton Tax Equity Financing Transaction During the first quarter of fiscal year 2025, on December 12, 2024 the Company closed on the second annual funding related to the tax equity financing for the Groton Project. The Company achieved all conditions precedent required for the second annual funding from East West Bank under the tax equity financing transaction between the Company and East West Bank and, as a result, the Company received a $4.0 million contribution which will be recorded as noncontrolling interest on the Consolidated Balance Sheets. ​ ​ ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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