Leases

9 Months Ended

Oct. 31, 2025

Note 12 – Leases

We enter into lease contracts for certain of our facilities at various locations worldwide. Our leases have remaining lease terms of one to ten years, some of which include options to extend the lease term for periods of up to five years when it is reasonably certain that we will exercise such options.

Balance sheet and other information related to our leases are as follows:


Operating Leases (In thousands)	Balance Sheet Classification	October 31, 2025		January 31, 2025
Lease Assets	Right of Use Assets	$	2,573	$	1,781
Lease Liabilities – Current	Other Accrued Expenses	$	552	$	320
Lease Liabilities – Long Term	Lease Liabilities	$	2,107	$	1,535

Lease cost information is as follows:


		Three Months Ended
Operating Leases (In thousands)	Statement of Income Classification	October 31, 2025		November 2, 2024
Operating Lease Costs	General and Administrative Expense	$	180	$	116

		Nine Months Ended
Operating Leases (In thousands)	Statement of Income Classification	October 31, 2025		November 2, 2024
Operating Lease Costs	General and Administrative Expense	$	521	$	293

Maturities of operating lease liabilities are as follows:


(In thousands)	October 31, 2025
Fiscal 2026, remaining	$	182
Fiscal 2027		710
Fiscal 2028		635
Fiscal 2029		450
Fiscal 2030		357
Thereafter		844
Total Lease Payments		3,178
Less: Imputed Interest		(519	)
Total Lease Liabilities	$	2,659

As of October 31, 2025, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 6.0 years and 6.11%, respectively. We calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that we would pay to borrow funds on a fully collateralized basis over a similar term.

Supplemental cash flow information related to leases is as follows:


	Three Months Ended
(In thousands)	October 31, 2025		November 2, 2024
Cash paid for operating lease liabilities	$	181	$	81
	Nine Months Ended
(In thousands)	October 31, 2025		November 2, 2024
Cash paid for operating lease liabilities	$	490	$	255