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INCOME TAXES (Tables) | 12 Months Ended
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Oct. 31, 2024
INCOME TAXES |
Components of Income (loss) before taxes | The components of income (loss) before taxes are (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended October 31,
​ |  | 2024 |  | 2023 |  | 2022
Income (loss) before income taxes: |  | ​ |  |  | ​ |  |  | ​ |
Domestic | ​ | $ | (15,024) |  | $ | (3,259) |  | $ | (232)
Foreign | ​ |  | 5,174 |  |  | 10,013 |  |  | 12,110
​ | ​ | $ | (9,850) |  | $ | 6,754 |  | $ | 11,878
Schedule of provision (benefit) for income taxes | In the fiscal years set forth below, the provision (benefit) for income taxes consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended October 31,
​ |  | 2024 |  | 2023 |  | 2022
Current: |  | ​ |  |  | ​ | ​ |  | ​ |
U.S. taxes | ​ | $ | 647 |  | $ | (431) |  | $ | 1,092
Foreign taxes | ​ |  | 1,804 | ​ |  | 2,775 | ​ |  | 3,191
​ | ​ |  | 2,451 | ​ |  | 2,344 | ​ |  | 4,283
Deferred: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
U.S. taxes | ​ |  | (3,765) | ​ |  | 167 | ​ |  | (839)
Foreign taxes | ​ |  | (518) | ​ |  | (287) | ​ |  | (204)
​ | ​ |  | (4,283) | ​ |  | (120) | ​ |  | (1,043)
Valuation allowance | ​ | ​ | 8,590 | ​ | ​ | 141 | ​ | ​ | 412
​ | ​ | $ | 6,758 |  | $ | 2,365 |  | $ | 3,652
Schedule of Reconciliation of Statutory Tax Rate to Effective Tax Rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended October 31, |
​ |  | 2024 |  | ​ | 2023 |  | 2022 |
​ | ​ |  | ​ | ​ | ​ |  | ​ | ​ |  |  |
U.S. statutory rate | ​ |  | 21 | % | ​ |  | 21 | % |  | 21 | %
Effect of tax rate of international jurisdictions different than U.S. statutory rates | ​ |  | (4) | % | ​ |  | 6 | % |  | 4 | %
Valuation allowance | ​ |  | (87) | % | ​ |  | 2 | % |  | 3 | %
State taxes | ​ |  | 4 | % | ​ |  | (1) | % |  | 1 | %
Tax credits | ​ |  | — | % | ​ |  | — | % |  | 1 | %
US benefit of foreign intangible income | ​ | ​ | — | % | ​ | ​ | — | % | ​ | (3) | %
US tax on distributed and undistributed earnings | ​ | ​ | (2) | % | ​ | ​ | — | % | ​ | — | %
Stock-based compensation | ​ | ​ | (3) | % | ​ | ​ | 6 | % | ​ | 4 | %
Other | ​ |  | 2 | % | ​ |  | 1 | % |  | — | %
Effective tax rate | ​ |  | (69) | % | ​ |  | 35 | % |  | 31 | %
Schedule of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities as of October 31, 2024 and 2023 are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | October 31,
​ |  | 2024 |  | 2023
Deferred Tax Assets: |  | ​ |  |  | ​ |
Accrued inventory reserves | ​ | $ | 1,605 |  | $ | 1,580
Accrued warranty expenses | ​ |  | 191 | ​ |  | 241
Compensation related expenses | ​ |  | 1,800 | ​ |  | 2,222
Net derivative gain | ​ | ​ | 500 | ​ | ​ | 683
Unrealized exchange gain | ​ |  | 58 | ​ |  | —
Other accrued expenses | ​ |  | 351 | ​ |  | 344
Net operating loss carryforwards | ​ |  | 6,115 | ​ |  | 2,249
Other credit carryforwards | ​ |  | 948 | ​ |  | 712
Operating lease liabilities | ​ | ​ | 2,924 | ​ | ​ | 2,818
Goodwill and intangibles | ​ | ​ | 750 | ​ | ​ | 798
Other | ​ |  | 118 | ​ |  | 131
​ | ​ |  | 15,360 | ​ |  | 11,778
Less: Valuation allowance – net operating loss and other credit carryforwards | ​ |  | (9,203) | ​ |  | (1,810)
Deferred tax assets | ​ |  | 6,157 | ​ |  | 9,968
​ | ​ |  | ​ | ​ |  | ​
Deferred Tax Liabilities: | ​ |  | ​ | ​ |  | ​
Unrealized exchange loss | ​ |  | — | ​ |  | (159)
Property and equipment and capitalized software development costs | ​ |  | (1,525) | ​ |  | (1,915)
Operating lease - right of use assets | ​ | ​ | (2,837) | ​ | ​ | (2,731)
Other | ​ |  | (499) | ​ |  | (497)
Net deferred tax assets | ​ | $ | 1,296 |  | $ | 4,666
Schedule of reconciliation of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding the related accrual for interest or penalties, is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Balance, beginning of year | ​ | $ | 138 |  | $ | 138 |  | $ | 167
Additions based on tax positions related to the current year | ​ |  | — | ​ |  | — | ​ |  | 21
Additions (reductions) related to prior year tax positions | ​ |  | — | ​ |  | — | ​ |  | —
Reductions due to statute expiration | ​ |  | (117) | ​ |  | — | ​ |  | (50)
Balance, end of year | ​ | $ | 21 |  | $ | 138 |  | $ | 138
Summary of open tax years by major jurisdiction | ​
​ | ​ | ​
United States federal | ​ | Fiscal year 2021 through the current period
Germany¹ | ​ | Fiscal year 2022 through the current period
Taiwan | ​ | Fiscal year 2019 through the current period
United Kingdom | ​ | Fiscal year 2018 through the current period
¹ | Includes federal as well as state, provincial or similar local jurisdictions, as applicable.

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