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INCOME TAXES (Tables) | 12 Months Ended
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Jan. 31, 2025
INCOME TAXES |
Income Tax Expense |
|  | Years Ended |
|  | January 31, |
|  | 2025 |  |  | 2024 |
Domestic |  | $ | (14,701 | ) |  | $ | 8,648 |
Foreign |  |  | (3,655 | ) |  |  | 708 |
Total |  | $ | (18,356 | ) |  | $ | 9,356 |
Net Income (Loss) Before Income Tax |
|  | Years Ended |
|  | January 31, |
|  | 2025 |  |  | 2024 |
Income Tax Expense (Benefit) |  |  |  |  |  |
Current: |  |  |  |  |  |
Federal |  | $ | 8 |  |  | $ | 17 |
State and other taxes |  |  | 29 |  |  |  | 58 |
Foreign |  |  | 3,832 |  |  |  | 4,674 |
Total Current Tax Expense |  | $ | 3,869 |  |  | $ | 4,749 |
Deferred: |  |  |  |  |  |  |  |
Domestic |  | $ | (3,312 | ) |  | $ | (186 | )
Foreign |  |  | (838 | ) |  |  | (633 | )
Total Deferred Tax Expense |  |  | (4,150 | ) |  |  | (819 | )
Total Income Taxes |  | $ | (281 | ) |  | $ | 3,930 |
Effective Income Tax Rate Reconciliation |
|  | Years Ended January 31, |
|  | 2025 |  |  | 2024 |
Statutory rate |  |  | 21.00 | % |  |  | 21.00 | %
State Income Taxes, Net of Federal Tax Benefit |  |  | 1.66 | % |  |  | 0.49 | %
Adjustment to Deferred |  |  | (5.38 | )% |  |  | (23.26 | )%
GILTI |  |  | 0.00 | % |  |  | 9.07 | %
Foreign Tax Credit – GILTI |  |  | 0.00 | % |  |  | (2.42 | )%
Goodwill Impairment |  |  | (12.06 | )% |  |  | 0.00 | %
Section 250 Deduction |  |  | 0.00 | % |  |  | (4.92 | )%
Permanent Differences |  |  | (1.48 | )% |  |  | 0.20 | %
Valuation Allowance-Deferred Tax Asset |  |  | 0.17 | % |  |  | 33.29 | %
Foreign Tax Credit |  |  | 8.19 | % |  |  | (15.24 | )%
Section 78 Gross-up |  |  | 0.00 | % |  |  | 0.77 | %
Argentina Flow Through Loss |  |  | (6.14 | )% |  |  | 7.20 | %
Withholding Taxes |  |  | (1.40 | )% |  |  | 5.72 | %
Foreign Rate Differential |  |  | (2.11 | )% |  |  | 18.25 | %
Change in State Apportionment Rate |  |  | (0.01 | )% |  |  | (1.48 | )%
Foreign employee benefits |  |  | 0.00 | % |  |  | (1.58 | )%
Foreign Dividends Paid to U.S. |  |  | (5.48 | )% |  |  | 25.69 | %
Foreign Dividends Received Deduction |  |  | 5.48 | % |  |  | (25.69 | )%
Earnout Adjustment |  |  | 0.81 | % |  |  | (5.70 | )%
Other |  |  | (1.72 | )% |  |  | 0.62 | %
Effective Rate |  |  | 1.53 | % |  |  | 42.01 | %
Deferred Income Tax Assets (Liabilities) |
|  | January 31, |
|  | 2025 |  |  | 2024 |
Deferred tax assets: |  |  |  |  |  |
Inventories |  | $ | 661 |  |  | $ | 1,545 |
US tax loss carryforwards, including work opportunity credit |  |  | 2,364 |  |  |  | 167 |
Accounts receivable and accrued rebates |  |  | 313 |  |  |  | 295 |
Accrued compensation and other |  |  | 326 |  |  |  | 441 |
India reserves - US deduction |  |  | 0 |  |  |  | 24 |
Equity based compensation |  |  | 508 |  |  |  | 346 |
Foreign tax credit carry-forward |  |  | 5,184 |  |  |  | 4,548 |
State and local carry-forwards |  |  | 1,528 |  |  |  | 1,256 |
Depreciation and amortization |  |  | (4,230 | ) |  |  | (1,846 | )
Prepaid expenses |  |  | (301 | ) |  |  | (253 | )
Right-of-use asset |  |  | (1,577 | ) |  |  | (1,590 | )
Operating lease liability |  |  | 1,660 |  |  |  | 1,672 |
Foreign carry-forwards |  |  | 1,029 |  |  |  | 1,102 |
Investments |  |  | 1,404 |  |  |  | 268 |
Section 163(j) Interest Expense |  |  | 293 |  |  |  | 0 |
Withholding taxes |  |  | (139 | ) |  |  | (383 | )
Other |  |  | - |  |  |  | 83 |
Deferred tax assets |  |  | 9,023 |  |  |  | 7,675 |
Less valuation allowance |  |  | (6,644 | ) |  |  | (6,675 | )
Net deferred tax assets |  | $ | 2,379 |  |  | $ | 1,000 |
|  | January 31, |
Balance sheet classification |  | 2024 |  |  | 2025 |
Long-term deferred tax assets |  | $ | 6,270 |  |  | $ | 3,097 |
Long-term deferred tax liability |  | $ | 3,891 |  |  | $ | 2,097 |
Schedule of relating to capital loss, operating loss, and credit carryforwards |
|  | Gross Carryforward |  |  | Benefit Amount |  |  | Valuation Allowance |  |  | Expiration Beginning In |
State operating loss carryforwards |  | $ | 35,834 |  |  | $ | 1,528 |  |  | $ | (925 | ) |  | 2028 |
Foreign tax credit carryforwards |  |  |  |  |  |  | 5,184 |  |  |  | (3,509 | ) |  | 2026 |
Federal credit carryforwards |  |  |  |  |  |  | 167 |  |  |  | - |  |  | 2035 |
Mexico operating loss carryforwards |  | $ | 1,022 |  |  |  | 307 |  |  |  | (307 | ) |  | 2033 |
Chile operating loss carryforwards |  | $ | 1,625 |  |  |  | 439 |  |  |  | (439 | ) |  | Indefinite |
Germany operating loss carryforwards |  | $ | 2 |  |  |  | 1 |  |  |  | (1 | ) |  | Indefinite |
UK operating loss carryforwards |  | $ | 241 |  |  |  | 60 |  |  |  | (60 | ) |  | Indefinite |
Total |  |  |  |  |  | $ | 7,686 |  |  | $ | (5,241 | ) |  |  |

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