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Note 8 - Leases | 6 Months Ended
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Jul. 31, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | 8. Leases The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Singapore, Malaysia, and the United Kingdom. Our lease obligation in Canada was terminated as of March 31, 2022, and our lease obligation in Hungary was terminated as of November 30, 2022. Lease expense for the three and six months ended July 31, 2023 was approximately $201,000 and $422,000, respectively, and during the three and six months ended July 31, 2022 was approximately $218,000 and $421,000, respectively, and was recorded as a component of operating income (loss). Included in these costs was short-term lease expense of approximately$2,000 and $4,000 for the three and six months ended July 31, 2023, respectively, and during the three and six months ended July 31, 2022 was approximately$9,000 and $18,000 respectively. Supplemental balance sheet information related to leases as of July 31, 2023 and January 31, 2023 was as follows:
Lease |  | July 31, 2023 |  |  | January 31, 2023 |
Assets |  | (in thousands)
Operating lease assets |  | $ | 1,626 |  |  | $ | 1,749 |
Liabilities |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | 1,626 |  |  | $ | 1,749 |
Classification of lease liabilities |  |  |  |  |  |  |  |
Current liabilities |  | $ | 903 |  |  | $ | 903 |
Non-current liabilities |  |  | 723 |  |  |  | 846 |
Total Operating lease liabilities |  | $ | 1,626 |  |  | $ | 1,749 |
Lease-term and discount rate details as of July 31, 2023 and January 31, 2023 were as follows:
Lease term and discount rate |  | July 31, 2023 |  |  | January 31, 2023 |
Weighted average remaining lease term (years) |  |  |  |  |  |  |  |
Operating leases |  |  | 1.84 |  |  |  | 1.98 |
Weighted average discount rate: |  |  |  |  |  |  |  |
Operating leases |  |  | 13 | % |  |  | 13 | %
The incremental borrowing rate was calculated using the Company's weighted average cost of capital. Supplemental cash flow information related to leases was as follows:
Lease |  | Six Months Ended July 31, 2023 |  |  | Six Months Ended July 31, 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  | (in thousands)
Operating cash flows from operating leases |  | $ | (422 | ) |  | $ | (421 | )
Changes in lease balances resulting from new and modified leases: |  |  |  |  |  |  |  |
Operating leases |  | $ | 294 |  |  | $ | 638 |
Maturities of lease liabilities at July 31, 2023 were as follows:
|  | July 31, 2023 |
|  | (in thousands) |
2024 |  | $ | 506 |
2025 |  |  | 711 |
2026 |  |  | 309 |
2027 |  |  | 208 |
2028 |  |  | 208 |
Thereafter |  |  | 21 |
Total payments under lease agreements |  | $ | 1,963 |
Less: imputed interest |  |  | (337 | )
Total lease liabilities |  | $ | 1,626 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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