Note 21 - Sales and Major Customers

12 Months Ended

Jan. 31, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

5. Revenue from Contracts with Customers

The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition:

	Twelve Months Ended January 31,
	2023		2022
Revenue recognized at a point in time:	(in thousands)
Seamap	$	22,544	$	16,422
Klein		6,379		5,428
Total revenue recognized at a point in time	$	28,923	$	21,850
Revenue recognized over time:
Seamap	$	2,468	$	871
Klein	$	3,700	$	386
Total revenue recognized over time		6,168		1,257
Total revenue from contracts with customers	$	35,091	$	23,107

The revenue from products manufactured and sold by our Seamap and Klein businesses, is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. However, from time to time our Seamap and Klein businesses provide repair and maintenance services, or perform upgrades, on customer owned equipment in which case revenue is recognized over time. In addition, our Seamap business provides annual Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract.

The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:

	Twelve Months Ended January 31,
	2023		2022
Revenue from contracts with customers:	(in thousands)
United States	$	6,918	$	2,409
Europe		14,814		8,821
Asia-Pacific		12,876		11,244
Other		483		633
Total revenue from contracts with customers	$	35,091	$	23,107

As of January 31, 2023 and 2022 contract assets and liabilities consisted of the following:

	January 31, 2023		January 31, 2022
Contract Assets:	(in thousands)
Unbilled revenue-current	$	2	$	28
Total unbilled revenue	$	2	$	28
Contract Liabilities:
Deferred revenue & customer deposits - current	$	571	$	2,569
Total deferred revenue & customer deposits	$	571	$	2,569

Considering the products manufactured and sold by our Seamap and Klein businesses and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a three to six-month period.

With respect to the disclosures above, sales and transaction-based taxes are excluded from revenue, and we do not disclose the value of unsatisfied performance obligations for contacts with an original expected duration of one year or less. Also, we expense costs incurred to obtain contracts because the amortization period would be one year or less. These costs are recorded in selling, general and administrative expenses.

Non-US [Member]

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

21. Sales and Major Customers

A summary of the Company’s revenues, from continuing operations, from customers by geographic region, outside the U.S., is as follows (in thousands):

	Year Ended January 31,
	2023		2022
Europe	$	14,814	$	8,821
Asia/South Pacific		12,876		11,244
Other		483		633
Total	$	28,173	$	20,698

During fiscal year ended January 31, 2023, two Seamap Marine Products customers individually exceeded 10% of total revenue. During fiscal year ended  January 31, 2022, one Seamap Marine Products customer individually exceeded 10% of total revenue.