XML 39 R25.htm IDEA: XBRL DOCUMENT
v3.26.1

Benefit Plans | 6 Months Ended
--- | ---
Apr. 30, 2026
Benefit Plans |
Benefit Plans | Note 18. Benefit Plans Long-Term Incentive Plans The Board and its Compensation and Leadership Development Committee periodically approve Long-Term Incentive Plans which include performance-based awards tied to the Company’s common stock price as well as time-vesting awards. None of the awards granted as part of Long-Term Incentive Plans include any dividend equivalent or other stockholder rights. To the extent the awards are earned, they may be settled in shares or cash of an equivalent value at the Company’s option. Long-Term Incentive Plan Awards for Fiscal Year 2026: ​ On November 28, 2025, the Compensation and Leadership Development Committee of the Board (the “Compensation Committee”) approved certain awards to be made under the Company’s Long-Term Incentive Plan (the “LTI Plan”) for fiscal year 2026. The LTI Plan is a sub-plan consisting of awards made under the Company’s 2018 Omnibus Incentive Plan (as amended and restated from time to time, the “Omnibus Incentive Plan”). The participants in the LTI Plan are members of senior management. The awards under the LTI Plan consist of two award components: ​
| 1) | Absolute Total Shareholder Return (“TSR”) Performance Share Units (“PSU”). The PSUs granted during the six months ended April 30, 2026 will be earned over three performance periods, with the third performance period ending on October 31, 2028, but will remain subject to a continued service-based vesting requirement until the third anniversary of the date of grant. The performance measure for the TSR PSUs is the absolute TSR of the Company, measured over three performance periods: (1) from November 1, 2025 through October 31, 2026 with respect to 33% of the target number of performance shares; (2) from November 1, 2025 through October 31, 2027 with respect to 33% of the target number of performance shares; and (3) from November 1, 2025 through October 31, 2028 with respect to 34% of the target number of performance shares. TSR performance will be measured by subtracting the beginning stock price of $7.61, representing a 20-trading day average closing price, from the average closing price of the Company’s common stock over the 20 consecutive trading days ending on the last trading day of the applicable performance period, adding any dividends during the period, and then dividing the result by the beginning stock price. For each performance period, a minimum threshold achievement of 20% annualized TSR is necessary to earn 50% of the target number of PSUs, a target achievement of 35% annualized TSR is necessary to earn 100% of the target number of PSUs, and a maximum achievement of 50% annualized TSR is necessary to earn 235% of the target number of PSUs from that particular performance period. Each award is capped at 235% of the target number of performance shares, and each award is further subject to a stock price cap under which the award will be reduced proportionately if the price of the Company’s common stock at the time of payment exceeds a specified dollar amount.
Once performance is certified for each performance period, a corresponding number of PSUs become eligible to vest based on continued service through November 28, 2028 (subject to limited exceptions), at which time awards—to the extent that both the absolute TSR and service vesting requirements have been met—will vest. Given that the performance periods are still open, the Company has reserved shares equal to 235% of the target number of PSUs for each performance period, subject to performance during the remaining performance periods, as well as vesting based on continued service until November 28, 2028 (the third anniversary of the grant date).
| 2) | Time-vesting Restricted Stock Units (“RSU”). The time-vesting RSUs granted during the six months ended April 30, 2026 will vest at a rate of one-third of the total number of RSUs on each of the first three anniversaries of the date of grant.
During the six months ended April 30, 2026, 425,176 PSUs and 476,339 time-based vesting RSUs were awarded to senior management under the LTI Plan. The PSUs were issued assuming participants will achieve 100% target performance. The Company has reserved additional shares assuming the maximum performance targets will be met. These PSUs and RSUs were awarded as contingent cash settlement awards, to be settled in cash to the extent necessary to avoid issuing shares in excess of the remaining shares reserved for issuance under the Omnibus Incentive Plan. As the Company’s stockholders approved an amendment and restatement of the Omnibus Incentive Plan to increase the number of shares of common stock reserved for issuance under the plan at the 2026 Annual Meeting of Stockholders, the Company has sufficient shares available under the Omnibus Incentive Plan to settle all of these awards in shares. In addition to the awards granted to senior management as noted above, during the six months ended April 30, 2026, the Board also granted a total of 704,543 time-based vesting RSUs to certain salaried employees to promote ownership of the Company’s equity and retention. The time-based vesting RSUs granted during the six months ended April 30, 2026 vest at a rate of one-third of the total number of RSUs granted on each of the first three anniversaries of the date of grant. Share-Based Compensation Share-based compensation was reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended April 30, | ​ | Six Months Ended April 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ | 2026 | ​ ​ ​ | 2025
Cost of revenues | ​ | $ | 157 | ​ | $ | 269 | ​ | $ | 365 | ​ | $ | 413
Administrative and selling expense | ​ | ​ | 2,295 | ​ | ​ | 4,269 | ​ | ​ | 4,355 | ​ | ​ | 6,129
Research and development expense | ​ | ​ | 125 | ​ | ​ | 219 | ​ | ​ | 224 | ​ | ​ | 324
​ | ​ | $ | 2,577 | ​ | $ | 4,757 | ​ | $ | 4,944 | ​ | $ | 6,866
​ ​ Restricted Stock Units and Performance Share Units The following table summarizes our RSU and PSU activity for the six months ended April 30, 2026:
​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted Stock Units | ​ ​ ​ | Shares | ​ ​ ​ | Weighted-Average Fair Value
Outstanding as of October 31, 2025 | ​ | ​ | 641,027 | ​ | $ | 20.56
Granted - time-vesting RSUs | ​ | ​ | 1,180,882 | ​ | ​ | 7.14
Vested | ​ | ​ | (311,779) | ​ | ​ | 21.04
Forfeited | ​ | ​ | (52,622) | ​ | ​ | 10.89
Outstanding as of April 30, 2026 | ​ | ​ | 1,457,508 | ​ | $ | 9.78
​ | ​ | ​ | ​ | ​ | ​ | ​
Performance Stock Units | ​ ​ ​ | Shares | ​ ​ ​ | Weighted-Average Fair Value
Outstanding as of October 31, 2025 | ​ | ​ | 261,034 | ​ | $ | 40.68
Granted - PSUs | ​ | ​ | 425,176 | ​ | ​ | 7.59
Vested | ​ | ​ | (9,913) | ​ | ​ | 165.00
TSR adjustment on vested awards | ​ | ​ | (23,442) | ​ | ​ | 14.00
Outstanding as of April 30, 2026 | ​ | ​ | 652,855 | ​ | $ | 14.08
​

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration