Note 19 - Sales and Major Customers

12 Months Ended

Jan. 31, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

4. Revenue from Contracts with Customers

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

	Twelve Months Ended January 31,
	2024		2023
	(in thousands)
Total revenue recognized at a point in time	$	35,556	$	22,544
Total revenue recognized over time		954		2,468
Total revenue from contracts with customers	$	36,510	$	25,012

The revenue from products manufactured and sold by our Seamap business, 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 business provides repair and maintenance services, or performs 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,
	2024		2023
Revenue from contracts with customers:	(in thousands)
United States	$	1,250	$	1,986
Europe		20,248		11,836
Asia-Pacific		12,399		10,755
Other		2,613		435
Total revenue from contracts with customers	$	36,510	$	25,012

As of January 31, 2024 and 2023 contract assets and liabilities consisted of the following:

	January 31, 2024		January 31, 2023
Contract Assets:	(in thousands)
Unbilled revenue-current	$	26	$	2
Total unbilled revenue	$	26	$	2
Contract Liabilities:
Deferred revenue & customer deposits - current	$	3,649	$	571
Total deferred revenue & customer deposits	$	3,649	$	571

Considering the products manufactured and sold by our Seamap business 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 contracts 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]

19. 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,
	2024		2023
Europe	$	20,248	$	11,836
Asia/South Pacific		12,399		10,755
Other		2,613		435
Total	$	35,260	$	23,026

During the fiscal year ended January 31, 2024, Three Seamap Marine Products customers individually exceeded 10% of total revenue. During the fiscal year ended  January 31, 2023, Two Seamap Marine Products customers individually exceeded 10% of total revenue.