Note 6 - Leases

6 Months Ended

Jul. 31, 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 and six months ended July 31, 2026, was approximately $234,000 and $469,000, respectively. Lease expense for the three and six months ended July 31, 2025, was approximately $232,000, and $464,000, respectively. Lease exspense is recorded as a component of operating income.

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

Lease	*July 31, 2026*		*January 31, 2026*
Assets	(in thousands)
Operating lease assets	$	839	$	1,092

Liabilities
Operating lease liabilities	$	839	$	1,092

Classification of lease liabilities
Current liabilities	$	678	$	686
Non-current liabilities		161		406
Total Operating lease liabilities	$	839	$	1,092

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

Lease term and discount rate	*July 31, 2026*			*January 31, 2026*
Weighted average remaining lease term (years)
Operating leases		1.03			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 Six Months Ended July 31,*
Lease	*2026*			*2025*
Cash paid for amounts included in the measurement of lease liabilities:	(in thousands)
Operating cash flows from operating leases	$	(469	)	$	(464	)

Changes in lease balances resulting from new and modified leases:
Operating leases	$	116		$	112

Maturities of lease liabilities as of July 31, 2026 were as follows:

	*July 31, 2026*
	(in thousands)
2027	$	483
2028		282
2029		115
2030		46
2031		23
Thereafter		—
Total payments under lease agreements	$	949

Less: imputed interest		(110	)
Total lease liabilities	$	839