v3.25.2
Note 12 - Property and Equipment
 6 Months Ended
May 31, 2025
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

12.

PROPERTY AND EQUIPMENT

 

The following table summarizes cost and accumulated depreciation (in thousands):

 

  

May 31,

  

November 30,

 
  

2025

  

2024

 

Computer equipment and software

 $817  $791 

Furniture and fixtures

  501   276 

Leasehold improvements

  2,028   1,048 

Machinery and equipment

  7,137   4,095 
   10,483   6,210 

Less: accumulated depreciation

  3,639   2,802 

Total

 $6,844  $3,408 

 

The Company recognized $0.9 million and $0.6 million in depreciation expense during the six months ended May 31, 2025 and May 31, 2024, respectively. The Company recognized $0.5 million and $0.3 million in depreciation expense during the three months ended May 31, 2025 and 2024, respectively. Depreciation expense is presented in the operating expenses and within cost of goods sold in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

 

At May 31, 2025 and November 30, 2024, the Company had deposits of $2.0 million and $2.7 million, respectively, with vendors primarily for supply of machinery (molds) and equipment where the vendors have not completed the supply of these assets and is presented as Deposits for equipment in the Condensed Consolidated Balance Sheets.