Goodwill and Intangible Assets, Net

6 Months Ended

Apr. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

A summary of the change in the carrying amount of goodwill is as follows (in thousands):


	Goodwill Carrying Amount


Balance at October 31, 2025	$	1,506
PDA goodwill write off	(133)
Balance at April 30, 2026	$	1,373

Goodwill is tested for impairment on an annual basis or when an event or changes in circumstances indicate that its carrying value may not be recoverable. There have been no impairment charges recorded against goodwill as of April 30, 2026. As discussed in Note 3 - Asset Sales and Disposals, goodwill related to PDA was written off as part of the asset sale transaction.

Intangible assets consist of the following (in thousands):



	April 30, 2026							October 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years
Trade names and trademarks	$	2,108	(1,617)		491		8	$	2,108	$	(1,513)	$	595	8
Customer relationships	2,707		(2,324)		383		8	2,707		(2,160)		547		8
Non-competition agreement	437		(269)		168		8	437		(242)		195		8
Acquired water and mineral rights	1,284		—		1,284		Indefinite	1,284		—		1,284		Indefinite
	$	6,536	$	(4,210)	$	2,326		$	6,536	$	(3,915)	$	2,621

Amortization expense totaled $115,000 and $145,000 for the three months ended April 30, 2026 and 2025, respectively. Amortization expense totaled $295,000 and $289,000 for the six months ended April 30, 2026 and 2025, respectively.

In January 2025, the Company sold acquired water rights in the Santa Paula Basin for $30,000 per acre-foot in two transactions. The total selling price was $1,440,000 and the Company recorded a gain on sales of water rights of $1,200,000.

7. Goodwill and Intangible Assets, Net (continued)

Estimated future amortization expense of intangible assets as of April 30, 2026 is as follows (in thousands):


2026 (remaining six months)	$	283
2027	294
2028	294
2029	171


	$	1,042