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Note 11 - Leases

3 Months Ended

Apr. 30, 2025

Lessee, Operating and Finance Leases [Text Block]

Note 11 - Leases

Operating Leases.

In August 2020, the Company entered into a new lease in Abu Dhabi for land upon which the Company built a facility. The initial annual payments were approximately 1.2 million U.A.E. Dirhams (approximately $0.3 million at April 30, 2025), inclusive of rent, escalation clauses, and other common charges contained in the agreement. The lease expires in August 2050.

Finance Leases.

At April 30, 2025, the Company had finance lease liabilities of $0.1 million included in current maturities of long-term debt and long-term debt less current maturities, and financial ROU assets of $0.2 million which were included in property plant and equipment, net of accumulated depreciation in the consolidated balance sheets.

Supplemental balance sheet information related to leases is as follows:

Operating and Finance leases	*April 30, 2025*			*January 31, 2025*
Finance leases assets:
Property and Equipment - gross	$	942		$	899
Accumulated depreciation and amortization		(706	)		(626	)
Property and Equipment - net	$	236		$	273

Finance lease liabilities:
Finance lease liability short-term	$	34		$	32
Finance lease liability long-term		36			43
Total finance lease liabilities	$	70		$	75

Operating lease assets:
Operating lease ROU assets	$	8,617		$	8,199

Operating lease liabilities:
Operating lease liability short-term	$	1,208		$	1,071
Operating lease liability long-term		8,094			7,713
Total operating lease liabilities	$	9,302		$	8,784

Total lease costs consist of the following:

		*Three Months Ended April 30,*
Lease costs	*Consolidated Statements of Operations Classification*	*2025*		*2024*
Finance Lease Costs
Amortization of ROU assets	Cost of sales	$	49	$	38
Interest on lease liabilities	Interest expense		1		2
Operating lease costs	Cost of sales, SG&A expenses		534		455
Short-term lease costs (1)	Cost of sales, SG&A expenses		391		143
*Total Lease costs*		$	975	$	638

(1) Includes variable lease costs, which are not material.

Supplemental cash flow information related to leases is as follows:

	*Three Months Ended April 30,*
	*2025*		*2024*
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash outflows from finance leases	$	8	$	8
Operating cash outflows from finance leases		1		2
Operating cash outflows from operating leases		315		454

Weighted-average lease terms and discount rates are as follows:

	*April 30, 2025*
Weighted-average remaining lease terms (in years):
Finance leases		2.0
Operating leases		12.5

Weighted-average discount rates:
Finance leases		6.4	%
Operating leases		9.0	%

Maturities of lease liabilities as of April 30, 2025, are as follows:

		*Operating Leases*			*Finance Leases*
For the year ended January 31, 2026	$	1,781		$	28
For the year ended January 31, 2027		2,094			37
For the year ended January 31, 2028		2,120			9
For the year ended January 31, 2029		1,791			-
For the year ended January 31, 2030		899			-
For the year ended January 31, 2031		355			-
Thereafter		6,807			-
Total lease payments	$	15,847		$	74

Less: amount representing interest		(6,545	)		(4	)
Total lease liabilities at April 30, 2025	$	9,302		$	70

Rent expense attributable to operating leases was $0.9 million and $0.6 million for the three months ended April 30, 2025 and 2024, respectively.