Note 6 - Leases

3 Months Ended

Apr. 30, 2026

6. Leases

The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Singapore, Malaysia, and the United Kingdom.

Lease expense for the three months ended April 30, 2026, was approximately $232,000. Lease expense for the three months ended April 30, 2025, was approximately $232,000, and was recorded as a component of operating income.

Supplemental balance sheet information related to leases as of April 30, 2026 and January 31, 2026 was as follows:

Lease	*April 30, 2026*		*January 31, 2026*
Assets	(in thousands)
Operating lease assets	$	910	$	1,092

Liabilities
Operating lease liabilities	$	910	$	1,092

Classification of lease liabilities
Current liabilities	$	655	$	686
Non-current liabilities		255		406
Total Operating lease liabilities	$	910	$	1,092

Lease-term and discount rate details as of April 30, 2026 and January 31, 2026 were as follows:

Lease term and discount rate	*April 30, 2026*			*January 31, 2026*
Weighted average remaining lease term (years)
Operating leases		1.13			2.64

Weighted average discount rate:
Operating leases		15	%		15	%

The weighted average discount rate was calculated using the Company's weighted average cost of capital.

Supplemental cash flow information related to leases was as follows:

	*For the Three Months Ended April 30,*
Lease	*2026*			*2025*
Cash paid for amounts included in the measurement of lease liabilities:	(in thousands)
Operating cash flows from operating leases	$	(232	)	$	(232	)

Changes in lease balances resulting from new and modified leases:
Operating leases	$	—		$	112

Maturities of lease liabilities as of April 30, 2026 were as follows:

	*April 30, 2026*
	(in thousands)
2027	$	579
2028		282
2029		115
2030		46
2031		22
Thereafter		—
Total payments under lease agreements	$	1,044

Less: imputed interest		(134	)
Total lease liabilities	$	910