Note 11 – Commitments

We have operating leases for corporate offices, manufacturing facilities, and certain storage units. Our leases have remaining lease terms of one year to five years. A portion of our operating leases are leased from K&K Unlimited, a company controlled by Darren Clark, the former owner and current President of Cables Unlimited, to whom we make rent payments of $18,540 per month.

We also have other operating leases for certain equipment. The components of our facilities and equipment operating lease expenses for the periods ended  July 31, 2026 and 2025 were as follows (in thousands):

As of  July 31, 2026, operating lease right-of-use assets were $12.9 million and operating lease liabilities totaled $17.5 million, of which $2.3 million is classified as current. There were no finance leases as of  July 31, 2026. Future minimum lease payments under non-cancellable leases as of  July 31, 2026 are a total of $22.2 million.