Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jan. 31, 2021 | Mar. 31, 2021 | Jul. 31, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001036188 | ||
Entity Registrant Name | QAD INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --01-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 0-22823 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 77-0105228 | ||
Entity Address, Address Line One | 100 Innovation Place | ||
Entity Address, City or Town | Santa Barbara | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 93108 | ||
City Area Code | 805 | ||
Local Phone Number | 566-6000 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 361,000,000 | ||
Common Class B [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Class B Common Stock, $0.001 par value | ||
Trading Symbol | QADB | ||
Security Exchange Name | NASDAQ | ||
Entity Common Stock, Shares Outstanding | 3,330,318 | ||
Common Class A [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Class A Common Stock, $0.001 par value | ||
Trading Symbol | QADA | ||
Security Exchange Name | NASDAQ | ||
Entity Common Stock, Shares Outstanding | 17,379,947 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 142,501 | $ 136,717 |
Accounts receivable, net of allowances of $3,340 and $2,940 at January 31, 2021 and January 31, 2020, respectively | 82,609 | 80,968 |
Prepaid expenses and other current assets, net | 22,923 | 24,952 |
Total current assets | 248,033 | 242,637 |
Property and equipment, net of accumulated depreciation and amortization of $42,596 and $38,861 at January 31, 2021 and January 31, 2020, respectively | 25,598 | 28,687 |
Lease right-of-use assets | 21,016 | 18,329 |
Capitalized software costs, net | 7,980 | 1,922 |
Goodwill | 25,336 | 12,388 |
Deferred tax assets, net | 8,526 | 5,834 |
Other assets, net | 14,298 | 13,007 |
Total assets | 350,787 | 322,804 |
Liabilities and Stockholders’ Equity | ||
Current portion of long-term debt | 527 | 503 |
Lease liabilities | 4,904 | 4,371 |
Accounts payable | 10,898 | 9,840 |
Deferred revenue | 125,724 | 118,413 |
Other current liabilities | 37,431 | 39,900 |
Total current liabilities | 179,484 | 173,027 |
Long-term debt | 11,825 | 12,341 |
Long-term lease liabilities | 17,510 | 14,612 |
Other liabilities | 12,502 | 6,759 |
Total liabilities | 221,321 | 206,739 |
Commitments and contingencies (Note 14) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; none issued or outstanding | 0 | 0 |
Additional paid-in capital | 205,630 | 197,824 |
Treasury stock, at cost (207,062 and 216,378 Class B shares at January 31, 2021 and at January 31, 2020, respectively) | (3,073) | (3,226) |
Accumulated deficit | (64,924) | (70,209) |
Accumulated other comprehensive loss | (8,188) | (8,345) |
Total stockholders’ equity | 129,466 | 116,065 |
Total liabilities and stockholders’ equity | 350,787 | 322,804 |
Common Class A [Member] | ||
Stockholders’ equity: | ||
Common stock | 17 | 17 |
Common Class B [Member] | ||
Stockholders’ equity: | ||
Common stock | $ 4 | $ 4 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Accounts receivable, allowance | $ 3,340 | $ 2,940 |
Accumulated depreciation and amortization | $ 42,596 | $ 38,861 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common Class A [Member] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 71,000,000 | 71,000,000 |
Common stock, shares issued (in shares) | 17,375,453 | 17,108,846 |
Common Class B [Member] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 4,000,000 | 4,000,000 |
Common stock, shares issued (in shares) | 3,537,380 | 3,537,380 |
Treasury stock, shares (in shares) | 207,062 | 216,378 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Revenue: | |||
Revenues | $ 307,865 | $ 310,772 | $ 333,016 |
Costs of revenue: | |||
Costs of revenues | 125,372 | 139,909 | 155,884 |
Gross profit | 182,493 | 170,863 | 177,132 |
Operating expenses: | |||
Sales and marketing | 71,779 | 82,115 | 78,207 |
Research and development | 56,084 | 54,726 | 53,993 |
General and administrative | 41,643 | 39,442 | 35,248 |
Amortization of intangible assets from acquisitions | 289 | 268 | 111 |
Total operating expenses | 169,795 | 176,551 | 167,559 |
Operating income (loss) | 12,698 | (5,688) | 9,573 |
Other (income) expense: | |||
Interest income | (923) | (2,782) | (2,600) |
Interest expense | 591 | 630 | 643 |
Other expense (income), net | 2,209 | 68 | (387) |
Total other expense (income), net | 1,877 | (2,084) | (2,344) |
Income (loss) before income taxes | 10,821 | (3,604) | 11,917 |
Income tax (benefit) expense | (244) | 12,345 | 1,489 |
Net income (loss) | 11,065 | (15,949) | 10,428 |
Diluted net income (loss) per share: | |||
Net income (loss) | 11,065 | (15,949) | 10,428 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustment | 157 | (684) | (833) |
Total comprehensive income (loss) | 11,222 | (16,633) | 9,595 |
Common Class A [Member] | |||
Other (income) expense: | |||
Net income (loss) | $ 9,541 | $ (13,692) | $ 8,939 |
Basic net income (loss) per share: | |||
Basic net (loss) income per share (in dollars per share) | $ 0.55 | $ (0.82) | $ 0.55 |
Diluted net income (loss) per share: | |||
Diluted net (loss) income per share (in dollars per share) | $ 0.53 | $ (0.82) | $ 0.50 |
Net income (loss) | $ 9,541 | $ (13,692) | $ 8,939 |
Common Class B [Member] | |||
Other (income) expense: | |||
Net income (loss) | $ 1,524 | $ (2,257) | $ 1,489 |
Basic net income (loss) per share: | |||
Basic net (loss) income per share (in dollars per share) | $ 0.46 | $ (0.69) | $ 0.46 |
Diluted net income (loss) per share: | |||
Diluted net (loss) income per share (in dollars per share) | $ 0.45 | $ (0.69) | $ 0.44 |
Net income (loss) | $ 1,524 | $ (2,257) | $ 1,489 |
Subscription and Circulation [Member] | |||
Revenue: | |||
Revenues | 131,133 | 107,168 | 91,861 |
Costs of revenue: | |||
Costs of revenues | 42,369 | 38,451 | 34,128 |
License [Member] | |||
Revenue: | |||
Revenues | 11,152 | 16,570 | 25,568 |
Costs of revenue: | |||
Costs of revenues | 2,300 | 2,308 | 2,714 |
Maintenance [Member] | |||
Revenue: | |||
Revenues | 107,083 | 117,896 | 122,936 |
Costs of revenue: | |||
Costs of revenues | 26,039 | 29,702 | 31,307 |
Professional Services [Member] | |||
Revenue: | |||
Revenues | 58,497 | 69,138 | 92,651 |
Costs of revenue: | |||
Costs of revenues | $ 54,664 | $ 69,448 | $ 87,735 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member]Common Class A [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member]Common Class B [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Common Class A [Member] | Common Class B [Member] | Total |
Balance (in shares) at Jan. 31, 2018 | 16,605 | 3,537 | (892) | 16,605 | 3,537 | (892) | ||||||||||||
Balance at Jan. 31, 2018 | $ 22,125 | $ 22,125 | $ 16 | $ 4 | $ (12,461) | $ 200,456 | $ (53,434) | $ (6,828) | $ 127,753 | $ 16 | $ 4 | $ (12,461) | $ 200,456 | $ (75,559) | $ (6,828) | $ 105,628 | ||
Net income (loss) | 10,428 | $ 8,939 | $ 1,489 | 10,428 | ||||||||||||||
Foreign currency translation adjustments | (833) | (833) | ||||||||||||||||
Stock award exercises (in shares) | 196 | |||||||||||||||||
Stock award exercises | $ 3,430 | (7,878) | (4,448) | |||||||||||||||
Stock compensation expense | 10,122 | 10,122 | ||||||||||||||||
Dividends declared | (5,479) | (5,479) | ||||||||||||||||
Restricted stock (in shares) | 181 | |||||||||||||||||
Restricted stock | $ 1,681 | (5,977) | (4,296) | |||||||||||||||
Balance (in shares) at Jan. 31, 2019 | 16,605 | 3,537 | (515) | |||||||||||||||
Balance at Jan. 31, 2019 | $ (158) | $ (158) | $ 16 | $ 4 | $ (7,350) | 196,723 | (48,485) | (7,661) | 133,247 | |||||||||
Net income (loss) | (15,949) | (13,692) | (2,257) | (15,949) | ||||||||||||||
Foreign currency translation adjustments | (684) | (684) | ||||||||||||||||
Stock award exercises (in shares) | 492 | 126 | ||||||||||||||||
Stock award exercises | $ 1 | $ 1,943 | (4,615) | (2,671) | ||||||||||||||
Stock compensation expense | 11,354 | 11,354 | ||||||||||||||||
Dividends declared | (5,617) | 0 | (5,617) | |||||||||||||||
Restricted stock (in shares) | 12 | 173 | ||||||||||||||||
Restricted stock | $ 2,181 | (5,638) | (3,457) | |||||||||||||||
Balance (in shares) at Jan. 31, 2020 | 17,109 | 3,537 | (216) | |||||||||||||||
Balance at Jan. 31, 2020 | $ 17 | $ 4 | $ (3,226) | 197,824 | (70,209) | (8,345) | 116,065 | |||||||||||
Net income (loss) | 11,065 | $ 9,541 | $ 1,524 | 11,065 | ||||||||||||||
Foreign currency translation adjustments | 157 | 157 | ||||||||||||||||
Stock award exercises (in shares) | 75 | 9 | ||||||||||||||||
Stock award exercises | $ 153 | (2,618) | (2,465) | |||||||||||||||
Stock compensation expense | 14,192 | 14,192 | ||||||||||||||||
Dividends declared | (5,780) | 0 | (5,780) | |||||||||||||||
Restricted stock (in shares) | 191 | |||||||||||||||||
Restricted stock | (3,768) | (3,768) | ||||||||||||||||
Balance (in shares) at Jan. 31, 2021 | 17,375 | 3,537 | (207) | |||||||||||||||
Balance at Jan. 31, 2021 | $ 17 | $ 4 | $ (3,073) | $ 205,630 | $ (64,924) | $ (8,188) | $ 129,466 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Common Class A [Member] | |||
Dividends declared, per share (in dollars per share) | $ 0.288 | $ 0.288 | $ 0.288 |
Common Class B [Member] | |||
Dividends declared, per share (in dollars per share) | $ 0.24 | $ 0.24 | $ 0.24 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 11,065 | $ (15,949) | $ 10,428 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 6,829 | 6,412 | 5,517 |
Amortization of costs capitalized to obtain and fulfill contracts | 4,923 | 4,455 | 4,176 |
Provision for doubtful accounts and sales adjustments | 1,220 | 485 | 1,752 |
Amortization of right-of-use assets | 5,881 | 5,964 | 0 |
Loss on disposal of property and equipment | 318 | 78 | 34 |
Net change in valuation allowance | (3,438) | 16,179 | 3,224 |
Other deferred income taxes | (218) | (6,497) | (4,677) |
Change in fair value of a derivative instrument | 93 | 368 | 51 |
Stock compensation expense | 14,192 | 11,354 | 10,122 |
Other, net | 58 | 59 | 0 |
Changes in assets and liabilities, net of effects from acquisitions: | |||
Accounts receivable | (848) | (924) | (1,515) |
Costs capitalized to obtain and fulfill contracts | (5,469) | (5,792) | (4,130) |
Prepaid expenses and other assets | 1,258 | (413) | (2,890) |
Lease liabilities | (5,378) | (6,077) | 0 |
Accounts payable | 589 | 151 | (4,369) |
Deferred revenue | 2,386 | 6,074 | 3,031 |
Other liabilities | (589) | 1,070 | (1,747) |
Net cash provided by operating activities | 32,872 | 16,997 | 19,007 |
Cash flows from investing activities: | |||
Purchase of property and equipment | (1,933) | (5,671) | (4,340) |
Acquisition of businesses, net of cash acquired | (14,203) | 0 | (2,655) |
Capitalized software costs | (1,268) | (1,243) | (1,067) |
Proceeds from sale of building | 1,496 | 0 | 0 |
Purchase of short-term investments | 0 | (1,200) | (1,200) |
Proceeds from sale of short-term investments | 0 | 2,400 | 0 |
Other, net | 2 | 2 | 4 |
Net cash used in investing activities | (15,906) | (5,712) | (9,258) |
Cash flows from financing activities: | |||
Repayments of debt | (624) | (530) | (468) |
Dividends paid | (5,780) | (5,617) | (5,479) |
Tax payments related to stock awards | (6,233) | (6,128) | (8,744) |
Net cash used in financing activities | (12,637) | (12,275) | (14,691) |
Effect of exchange rates on cash and equivalents | 1,455 | (1,706) | (2,668) |
Net increase (decrease) in cash and equivalents | 5,784 | (2,696) | (7,610) |
Cash and equivalents at beginning of year | 136,717 | 139,413 | 147,023 |
Cash and equivalents at end of year | 142,501 | 136,717 | 139,413 |
Supplemental disclosure of cash flow information: | |||
Interest | 568 | 610 | 608 |
Income taxes, net of refunds | $ 3,459 | $ 3,679 | $ 3,475 |
Note 1 - Summary of Business an
Note 1 - Summary of Business and Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES BUSINESS QAD is a leader in cloud-based enterprise software solutions for global manufacturing companies. The Company’s solutions, called QAD Adaptive Applications, are designed specifically for automotive suppliers, life sciences, consumer products, food and beverage, high technology and industrial products manufacturers. QAD software offers a full set of core manufacturing enterprise resource planning (ERP) and supply chain management capabilities. The Company’s architecture, called the QAD Enterprise Platform, allows customers to upgrade existing functionality by module; and extend or create new applications, providing manufacturers with the flexibility they need to innovate and rapidly adapt to change. QAD was founded in 1979, 1986 1997. PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of QAD Inc. and all of its subsidiaries. All subsidiaries are wholly-owned and all significant balances and transactions among the entities have been eliminated from the consolidated financial statements. USE OF ESTIMATES The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and, accordingly, include amounts based on informed estimates and judgments of management that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Company’s financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Changes in estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. Significant items subject to such estimates and assumptions made by management include, but are not ● revenue recognition; ● the fair value of assets acquired and liabilities assumed for business combinations; ● the average period of benefit associated with deferred contract acquisition and fulfillment costs; ● the fair value of certain stock awards issued; ● the useful life and recoverability of long-lived and intangible assets; and ● the recognition, measurement and valuation of deferred income taxes. The World Health Organization declared in March 2020 19 2021 no may may not may may RECLASSIFICATION Certain prior year amounts included in Notes to Consolidated Financial Statements have been reclassified for consistency with the current year presentation. FOREIGN CURRENCY TRANSLATIONS AND TRANSACTIONS The financial position and results of operations of the Company’s foreign subsidiaries are generally determined using the country’s local currency as the functional currency. Assets and liabilities recorded in foreign currencies are translated at the exchange rates on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive income (loss), which is included in “Accumulated other comprehensive loss” within the Consolidated Balance Sheets. Gains and losses resulting from foreign currency transactions and remeasurement adjustments of monetary assets and liabilities not 2021, 2020 2019 CASH AND EQUIVALENTS Cash and equivalents consist of cash and short-term marketable securities with maturities of less than 90 90 January 31, 2021 2020, ACCOUNTS RECEIVABLE, NET Accounts receivable, net, consisted of the following as of January 31: 2021 2020 (in thousands) Accounts receivable $ 85,949 $ 83,908 Less allowance for: Doubtful accounts (1,101 ) (543 ) Sales adjustments (2,239 ) (2,397 ) Accounts receivable, net $ 82,609 $ 80,968 Trade accounts receivable are recorded at the invoiced amount and do not may not The Company does not may SALE OF BUILDING During the second 2020, third 2021 FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK The carrying amounts of cash and equivalents, short-term investments, accounts receivable and accounts payable approximate fair value due to the short-term maturities of these instruments. The Company’s note payable bears a variable market interest rate, subject to certain minimum interest rates. Therefore, the carrying amount outstanding under the note payable reasonably approximates fair value. Concentration of credit risk with respect to trade receivables is limited due to a large number of customers comprising the Company’s customer base, and their dispersion across many different industries and locations throughout the world. No 10% January 31, 2021 2020. January 31, 2019 2019 10%. no 10% January 31, 2021 2020. PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Additions and significant improvements to property and equipment are capitalized, while maintenance and repairs are expensed as incurred. For financial reporting purposes, depreciation is generally expensed via the straight-line method over the useful life of three five five Certain costs associated with software developed for internal use, including payroll costs for employees, are capitalized once the project has reached the application development stage and are included in property and equipment classified as software. These costs are amortized using the straight-line method over the expected useful life of the software, beginning when the asset is substantially ready for use. Costs incurred related to the preliminary project stage, training and research and development are expensed as incurred. Property and equipment, net consisted of the following as of January 31: 2021 2020 (in thousands) Buildings and building improvements $ 29,562 $ 29,902 Computer equipment and software 18,858 18,345 Furniture and office equipment 8,174 8,004 Leasehold improvements 7,685 7,382 Land 3,850 3,850 Automobiles 65 65 68,194 67,548 Less accumulated depreciation and amortization (42,596 ) (38,861 ) $ 25,598 $ 28,687 The changes in property and equipment, net, for the fiscal years ended January 31 2021 2020 (in thousands) Cost Balance at February 1 $ 67,548 $ 68,794 Additions 1,933 5,671 Adjustments (1) 196 (2,234 ) Disposals (2,062 ) (4,286 ) Impact of foreign currency translation 579 (397 ) Balance at January 31 68,194 67,548 Accumulated depreciation Balance at February 1 (38,861 ) (39,173 ) Depreciation (5,011 ) (5,034 ) Adjustments (1) (71 ) 880 Disposals 1,744 4,207 Impact of foreign currency translation (397 ) 259 Balance at January 31 (42,596) (38,861 ) Property and equipment, net at January 31 $ 25,598 $ 28,687 ( 1 Fiscal 2020 second 2020. Depreciation and amortization expense of property and equipment for fiscal 2021, 2020 2019 CAPITALIZED SOFTWARE COSTS The Company capitalizes software purchased from third The amortization of capitalized software costs is the greater of the straight-line basis over three Capitalized software costs and accumulated amortization at January 31 2021 2020 (in thousands) Capitalized software costs: Capitalized software development costs $ 3,655 $ 3,356 Acquired software technology 6,191 135 9,846 3,491 Less accumulated amortization (1,866 ) (1,569 ) Capitalized software costs, net $ 7,980 $ 1,922 The Company‘s capitalized software development costs relate to translations and localizations of QAD Adaptive Applications. Acquired software technology costs primarily relate to intellectual property purchased during the fourth 2021. It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during fiscal 2021, 2021. Amortization of capitalized software costs for fiscal 2021, 2020 2019 The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of January 31, 2021: Fiscal Years (in thousands) 2022 $ 2,276 2023 1,913 2024 1,469 2025 1,212 Thereafter 1,110 $ 7,980 BUSINESS COMBINATION The Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed, based upon their estimated fair values at the acquisition date. The purchase price allocation process requires management to make significant estimates and assumptions, especially at the acquisition date with respect to intangible assets. These assumptions and estimates are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain. The estimates in valuing certain of the intangible assets can include, but are not The Company estimates the fair value of the contingent consideration issued in business combinations using a Monte Carlo valuation approach, as well as unobservable inputs, such as forecasted financial information, reflecting its assessment of the assumptions market participants would use to value these liabilities. The fair values of liability-classified contingent consideration are remeasured at each reporting period with any changes in the fair value recorded as income or expense. The potential undiscounted amount of all future cash payments under the contingent consideration agreements is between zero and $10.2 million as of January 31, 2021. IMPAIRMENT ASSESSMENT OF LONG-LIVED ASSETS AND INTANGIBLES OTHER THAN GOODWILL The Company evaluates long-lived assets, capitalized software and other intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not not may not The Company reviews the impairment of right-of-use (ROU) assets consistent with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets when events or changes in circumstances occur that indicate the carrying value of the asset may not There were no impairments of long-lived assets, capitalized software, or other intangible assets during fiscal 2021, 2020, 2019, LEASES The Company treats a contract as a lease when the contract conveys the right to use a physically distinct asset for a period of time in exchange for consideration, the Company directs the use of the asset and the Company obtains substantially all the economic benefits of the asset. These leases are recorded as ROU assets and lease obligation liabilities for leases with terms greater than 12 not February 1, 2019 The Company has applied the practical expedient available for lessees in which lease and non-lease components are accounted for as a single lease component for all asset classes. The Company also elected the practical expedient to exclude short-term leases (leases with original terms of 12 The Company’s operating lease expense is recognized on a straight-line basis over the lease term. Amortization expense of the ROU asset for finance leases is recognized on a straight-line basis over the lease term and interest expense for finance leases is recognized based on the incremental borrowing rate. Variable lease payments are expensed as incurred for both operating and finance leases. Variable payments change due to facts or circumstances occurring after the commencement date, other than the passage of time, and do not not STOCK-BASED COMPENSATION The Company accounts for share-based payments (equity awards) to employees in accordance with ASC 718, Compensation Stock Compensation 718 Fair Value of RSUs The fair value of restricted stock units (RSUs) is determined on the grant date of the award as the market price of the Company’s common stock on the date of grant, reduced by the present value of estimated dividends foregone during the vesting period. Judgment is required in determining the present value of estimated dividends foregone during the vesting period. The Company estimates the dividends for purposes of this calculation based on the Company’s historical dividend payments per share, which has remained consistent over the last four Fair Value of PSUs The fair value of performance stock units (PSUs) is determined on the grant date of the award as the market price of the Company’s common stock on the date of grant, reduced by the present value of estimated dividends foregone during the vesting period. Judgment is required in determining the present value of estimated dividends foregone during the vesting period. The Company estimates the dividends for purposes of this calculation based on the Company’s historical dividend payments per share, which has remained consistent over the last three Fair Value of SARs The fair value of stock-settled stock appreciation rights (SARs) is determined on the grant date of the award using the Black-Scholes-Merton valuation model. One of the inputs to the Black-Scholes-Merton valuation model is the fair market value of the Company’s stock on the date of grant. Judgment is required in determining the remaining inputs to the Black-Scholes-Merton valuation model. These inputs include the expected life, volatility, the risk-free interest rate and the dividend rate. The following describes the Company’s policies with respect to determining these valuation inputs: Expected Life - two Volatility - Risk-Free Interest Rate - Dividend Rate - The Company records deferred tax assets for equity awards that result in deductions on its income tax returns, based on the amount of stock-based compensation recognized and the fair values attributable to the vested portion of those equity awards. Because the deferred tax assets the Company records are based upon the stock-based compensation expenses in a particular jurisdiction, the aforementioned inputs that affect the fair values of equity awards may COMPREHENSIVE INCOME (LOSS) Comprehensive income (loss) includes changes in the balances of items that are reported directly as a separate component of stockholders’ equity on the Consolidated Balance Sheets. The components of comprehensive income (loss) are net income (loss) and foreign currency translation adjustments. The Company does not not ADVERTISING EXPENSES Advertising costs are expensed as incurred. Advertising expenses were $0.9 million, $0.6 million and $0.7 million for fiscal years 2021, 2020 2019. RESEARCH AND DEVELOPMENT All costs incurred to establish the technological feasibility of the Company’s software products are expensed to research and development (R&D) as incurred. R&D expenses totaled $56.1 million, $54.7 million and $54.0 million in fiscal years 2021, 2020 2019, OTHER EXPENSE (INCOME), NET The components of other expense (income), were as follows: Years Ended January 31, 2021 2020 2019 (in thousands) Interest income $ (923 ) $ (2,782 ) $ (2,600 ) Interest expense 591 630 643 Foreign exchange losses (gains) 2,018 (50 ) (229 ) Change in fair value of interest rate swap 93 368 51 Other expense (income), net 98 (250 ) (209 ) Total other expense (income), net $ 1,877 $ (2,084 ) $ (2,344 ) COMPUTATION OF NET INCOME (LOSS) PER SHARE Net income (loss) per share of Class A common stock and Class B common stock is computed using the two The following table sets forth the computation of basic and diluted net income (loss) per share: Years Ended January 31, 2021 2020 2019 (in thousands, except per share data) Net income (loss) $ 11,065 $ (15,949 ) $ 10,428 Less: dividends declared (5,780 ) (5,617 ) (5,479 ) Undistributed net income (loss) $ 5,285 $ (21,566 ) $ 4,949 Net income (loss) per share Class A Common Stock Dividends declared $ 4,982 $ 4,827 $ 4,696 Allocation of undistributed net income (loss) 4,559 (18,519 ) 4,243 Net income (loss) attributable to Class A common stock $ 9,541 $ (13,692 ) $ 8,939 Weighted average shares of Class A common stock outstanding— basic 17,274 16,709 16,267 Weighted average potential shares of Class A common stock 748 — 1,585 Weighted average shares of Class A common stock and potential common shares outstanding— diluted 18,022 16,709 17,852 Basic net income (loss) per Class A common share $ 0.55 $ (0.82 ) $ 0.55 Diluted net income (loss) per Class A common share $ 0.53 $ (0.82 ) $ 0.50 Net income (loss) per share Class B Common Stock Dividends declared $ 798 $ 790 $ 783 Allocation of undistributed net income (loss) 726 (3,047 ) 706 Net income (loss) attributable to Class B common stock $ 1,524 $ (2,257 ) $ 1,489 Weighted average shares of Class B common stock outstanding— basic 3,326 3,289 3,256 Weighted average potential shares of Class B common stock 67 — 166 Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,393 3,289 3,422 Basic net income (loss) per Class B common share $ 0.46 $ (0.69 ) $ 0.46 Diluted net income (loss) per Class B common share $ 0.45 $ (0.69 ) $ 0.44 Potential common shares consist of the shares issuable upon the release of RSUs and PSUs, and the exercise of SARs. The Company’s unvested RSUs and PSUs, and unexercised SARs are not not The following table sets forth the number of potential common shares not Years Ended January 31, 2021 2020 2019 (in thousands) Class A 190 2,473 325 Class B — 221 — RECENT ACCOUNTING PRONOUNCEMENTS With the exception of those discussed below, there have been no January 31, 2021, Recent Accounting Pronouncements Adopted In January 2017, 2017 04, Intangibles Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment, 2” February 1, 2020, first 2021. not In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 February 1, 2020, first 2021, not In August 2018, 2018 15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350 40 s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract 350 40, February 1, 2020, first 2021. not Recent Accounting Pronouncements Not In December 2019, 740 740. first 2022. not |
Note 2 - Revenue
Note 2 - Revenue | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. REVENUE QAD offers its software using the same underlying technology via two not The Company generates revenue through subscriptions of its cloud-based software and sales of licenses and maintenance provided to its on-premises customers and through offering professional services to both its cloud and on-premises customers to assist them with the design, testing and implementation of its software. The Company determines revenue recognition through the following steps: - Identification of the contract, or contracts, with a customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, the Company satisfies a performance obligation. Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under ASC Topic 606 . The Company’s contracts which contain multiple performance obligations generally consist of the initial purchase of subscription or licenses and a professional services engagement. License purchases generally have multiple performance obligations as customers purchase maintenance in addition to the licenses. The Company’s single performance obligation arrangements are typically maintenance renewals, subscription renewals and services engagements. For contracts with multiple performance obligations where the contracted price differs from the stand-alone selling price (SSP) for any distinct good or service, the Company may Judgment is required to determine the SSP for each distinct performance obligation. In instances where SSP is not not may first Subscription Subscription revenue is recognized ratably over the initial subscription period committed to by the customer commencing when the cloud environment is made available to the customer. The initial subscription period is typically 24 60 30 30 Software Licenses Transfer of control for software is considered to have occurred upon electronic delivery of the license key that provides immediate availability of the product to the customer. License revenue is recognized upon the delivery of the license key. The Company’s typical payment terms tend to vary by region but its standard payment terms are within 30 90 Maintenance Revenue from support services and product updates provided to the Company’s on-premises customers, referred to as maintenance revenue, is recognized ratably over the term of the maintenance period, which in most instances is one 30 Professional Services Revenue from professional services is typically comprised of implementation, development, training or other consulting services. Consulting services are generally sold on a time-and-materials or fixed fee basis and can include services ranging from software installation to data conversion and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for time-and-materials arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by costs incurred to date, compared to total estimated costs to complete the services project. Management applies judgment when estimating project status and the costs necessary to complete the services projects. A number of internal and external factors can affect these estimates, including labor rates, utilization and efficiency variances and specification and testing requirement changes. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due 30 Indirect Sales Channels The Company executes arrangements through indirect sales channels via sales agents and distributors who are authorized to market its software products to end users. In arrangements with sales agents, QAD contracts directly with the customer and sales agents are compensated on a commission basis. Distributor arrangements are those in which the resellers are authorized to market and distribute the Company’s software products to end users in specified territories and the distributor bears the risk of collection from the end user customer. The Company recognizes revenue from transactions with distributors when the distributor submits a signed agreement and transfer of control has occurred to the distributor in accordance with the five not January 31, 2021, Disaggregated Revenue The Company disaggregates revenue from contracts with customers by geography and by the customers’ industry within manufacturing, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s revenue by geography is as follows: Years Ended January 31, 2021 2020 2019 (in thousands) North America $ 155,244 $ 151,097 $ 162,307 EMEA 93,351 90,885 96,989 Asia Pacific 39,327 46,363 51,628 Latin America 19,943 22,427 22,092 Total revenue $ 307,865 $ 310,772 $ 333,016 The Company’s revenue by industry is as follows: Years Ended January 31, 2021 2020 2019 (in thousands) Automotive $ 95,009 $ 110,900 $ 128,249 Consumer products and food and beverage 51,682 46,915 53,637 High technology and industrial products 111,056 106,807 106,658 Life sciences and other 50,118 46,150 44,472 Total revenue $ 307,865 $ 310,772 $ 333,016 Management Judgments Due to the complexity of certain contracts, the actual revenue recognition treatment required under ASC Topic 606 may may Revenue is recognized over time for the Company’s subscription, maintenance and fixed fee professional services that are separate performance obligations. For the Company’s professional services, revenue is recognized over time, generally using costs incurred or hours expended to measure progress. Judgment is required in estimating project status and the costs necessary to complete projects. A number of internal and external factors can affect these estimates, including labor rates, utilization, specification variances and testing requirement changes. If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as one Contract Balances The timing of revenue recognition may not not The contract assets indicated below are presented as other current and non-current assets in the Consolidated Balance Sheets. These assets primarily relate to professional services and subscription and consist of the Company’s rights to consideration for goods or services transferred but not January 31, 2021 2020. The Company’s contract balances are as follows: As of January 31, 2021 January 31, 2020 (In thousands) Contract assets, short-term (in Prepaid expenses and other current assets, net) $ 2,014 $ 1,595 Contract assets, long-term (in Other assets, net) 103 214 Total contract assets $ 2,117 $ 1,809 Deferred revenue, short-term $ 125,724 $ 118,413 Deferred revenue, long-term (in Other liabilities) 2,705 2,811 Total deferred revenue $ 128,429 $ 121,224 During the fiscal year ended January 31, 2021, Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $309.9 million as of January 31, 2021, 12 not not Deferred Revenue The Company typically invoices its customers for subscription and support fees in advance on a quarterly or annual basis, with payment due at the start of the subscription or support term. Unpaid invoice amounts for non-cancelable services starting in future periods are included in accounts receivable and deferred revenue. The portion of deferred revenue that QAD anticipates will be recognized after the succeeding twelve Deferred revenues consisted of the following: As of January 31, 2021 January 31, 2020 (in thousands) Deferred maintenance $ 66,833 $ 69,650 Deferred subscription 55,873 45,702 Deferred professional services 2,649 2,705 Deferred license and other revenue 369 356 Deferred revenues, current 125,724 118,413 Deferred revenues, non-current (in Other liabilities) 2,705 2,811 Total deferred revenues $ 128,429 $ 121,224 Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under ASC Topic 606 ● The Company does not one ● The Company generally expenses sales commissions and sales agent fees when incurred when the amortization period would have been one ● The Company does not Costs to Obtain and Fulfill a Contract The Company’s incremental direct costs of obtaining a contract consist of sales commissions and sales agent fees which are deferred and amortized ratably over the term of economic benefit which the Company has determined to be five one January 31, 2021 January 31, 2020, January 31, 2021, 2020, 2019, Costs to fulfill a contract, which are incurred upon initiation of certain services contracts and are related to initial customer setup, are included in prepaid expenses and other current assets, net and other assets, net in the Company’s Consolidated Balance Sheets. At January 31, 2021 January 31, 2020 five January 31, 2021, 2020, 2019, Recoverability of these costs is subject to various business risks. Quarterly, the Company compares the carrying value of these assets with the undiscounted future cash flows expected to be generated by them to determine if there is impairment. If impaired, these assets are reduced to an estimated fair value on a discounted cash flow basis. No twelve January 31, 2021, 2020 2019. |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 3. When determining fair value, the Company uses a three not • Level 1 • Level 2 • Level 3 not The following table sets forth the financial assets and liabilities, measured at fair value, as of January 31, 2021 January 31, 2020: Fair value measurement at reporting date using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) As of January 31, 2021 Money market mutual funds $ 80,611 Certificates of deposit $ 9,262 Liability related to the interest rate swap $ (325 ) Contingent liability associated with acquisitions $ (4,751 ) As of January 31, 2020 Money market mutual funds $ 107,319 Certificates of deposit $ 14,917 Liability related to the interest rate swap $ (232 ) Money market mutual funds and certificates of deposit are classified as part of “Cash and equivalents” in the accompanying Consolidated Balance Sheets. The amount of cash and equivalents deposited with commercial banks was $52.6 million and $14.5 million at January 31, 2021 January 31, 2020, The Company’s note payable bears a variable market interest rate commensurate with the Company’s credit standing. Therefore, the carrying amount outstanding under the note payable reasonably approximates fair value based on Level 2 The contingent liability associated with acquisitions is classified as part of “Other current liabilities” and “Other liabilities” in the accompanying Consolidated Balance Sheets. There have been no twelve January 31, 2021. Derivative Instruments The Company entered into an interest rate swap in May 2012 one 10 The fair values of the derivative instrument at January 31, 2021 January 31, 2020 Liability Fair Value Balance Sheet Location January 31, 2021 January 31, 2020 Derivative instrument: Interest rate swap Other liabilities $ (325 ) $ (232 ) Total $ (325 ) (232 ) The change in fair value of the interest rate swap recognized in the Consolidated Statement of Operations and Comprehensive Income (Loss) for the twelve January 31, 2021, 2020 2019 |
Note 4 - Income Taxes
Note 4 - Income Taxes | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 4. The provision for income taxes is computed using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax laws is recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in the period that includes the enactment date. The Company utilizes a two first not second 50% may Valuation allowances are established when necessary to reduce deferred tax assets to the amounts that are more likely than not may The domestic and foreign components of income (loss) before (benefit from) provision for income taxes consisted of the following: Years Ended January 31, 2021 2020 2019 (in thousands) Domestic net income before income taxes $ 7,725 $ 2,963 $ 6,562 Foreign net income (loss) before income taxes 3,096 (6,567 ) 5,355 Income (loss) before income taxes $ 10,821 $ (3,604 ) $ 11,917 Income tax (benefit) expense is summarized as follows: Years Ended January 31, 2021 2020 2019 (in thousands) Current: U.S. federal $ 997 $ 471 $ (829 ) State 37 130 (13 ) Foreign 2,376 2,149 3,784 Subtotal 3,410 2,750 2,942 Deferred: U.S. federal 3 25 79 State 6 (107 ) (30 ) Foreign (3,663 ) 9,677 (1,502 ) Subtotal (3,654 ) 9,595 (1,453 ) Total $ (244 ) $ 12,345 $ 1,489 Actual income tax (benefit) expense differs from that obtained by applying the statutory federal income tax rate to income before income taxes as follows: Years Ended January 31, 2021 2020 2019 (in thousands) Computed expected tax expense (benefit) $ 2,272 $ (757 ) $ 2,503 State income taxes, net of federal income tax expense 272 (581 ) 96 Incremental tax expense from foreign operations 1,708 1,256 715 Equity compensation (958 ) (4,198 ) (2,916 ) Foreign withholding taxes 1,619 1,103 1,089 Net change in valuation allowance (3,438 ) 16,179 3,224 Net change in uncertain tax positions 125 3 (71 ) Non-deductible expenses (41 ) 218 1,149 Benefit of tax credits (2,569 ) (1,719 ) (3,483 ) Subpart F income 611 27 101 U.S. Tax Reform (the Tax Act) — — (1,312 ) Rate change impact 123 867 124 Other 32 (53 ) 270 Total income tax (benefit) expense $ (244 ) $ 12,345 $ 1,489 When calculating QAD’s income tax expense for fiscal 2021, July 20, 2020 2021, not 2020 2019, not The Company has elected to treat the deferred taxes related to GILTI provisions as a current-period expense when incurred (the period cost method). As of January 31, 2021, 23 January 31, 2021. not Deferred Income Taxes Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows: January 31, 2021 2020 (in thousands) Deferred tax assets: Allowance for doubtful accounts and sales adjustments $ 700 $ 600 Accrued vacation 1,305 1,499 Tax credits 24,312 22,077 Deferred revenue 2,670 3,136 Lease liabilities 5,046 4,142 Net operating loss carryforwards 13,794 15,475 Accrued expenses - other 2,543 2,038 Other comprehensive income 3,624 1,603 Section 263(a) interest capitalization 182 190 Intellectual property 4,583 6,250 Equity compensation 4,219 3,579 Carryforward of Irish amortization 5,728 3,614 Other 718 1,767 Total deferred tax assets 69,424 65,970 Less valuation allowance (48,571 ) (50,972 ) Less netting of unrecognized tax benefits against deferred tax assets (968 ) (973 ) Deferred tax assets, net of valuation allowance $ 19,885 $ 14,025 Deferred tax liabilities: Depreciation and amortization (612 ) (851 ) Acquisition accounting basis differences (2,514 ) — Costs to obtain and fulfill contracts (3,081 ) (3,054 ) ASC 842 lease right of use assets (4,756 ) (3,931 ) Other liabilities (396 ) (355 ) Total deferred tax liabilities (11,359 ) (8,191 ) Total net deferred tax assets $ 8,526 $ 5,834 Valuation Allowance The Company reviews its net deferred tax assets by entity at each balance sheet date to determine whether a valuation allowance is necessary based on the more-likely-than- not 2021, In fiscal year 2021, three may Based on the weight of evidence both positive and negative, the Company continued to maintain a full valuation allowance on the Irish principal’s net deferred tax assets in fiscal year 2021 three The valuation allowance on the Company’s German and Hong Kong entities was released during fiscal 2021 not” A valuation allowance has been established for select foreign jurisdictions along with U.S. federal and state net deferred tax assets. The following table discloses the Company’s valuation allowance by entity (in millions): Jurisdiction January 31, 2021 January 31, 2020 U.S. federal and state $ 30.3 $ 30.3 Irish principal 12.0 11.6 Brazil 6.1 5.7 Germany - 2.6 Hong Kong - 0.6 South Africa 0.2 0.2 Total valuation allowance $ 48.6 $ 51.0 Net Operating Losses and Tax Credits The Company has deferred tax asset net operating loss carryforwards of $13.8 million and tax credit carryforwards of $24.3 million as of January 31, 2021. not Credit Carryforwards January 31, 2021 Foreign tax credit $ 6,338 Federal R&D credit 8,336 State R&D credit 9,380 AMT credit and New hire retention 258 Total credit $ 24,312 The Company’s U.S. R&D credits, California R&D credits and U.S. foreign tax credits have been valued. The Company had $14,000 of U.S. R&D tax credits that expired in October 2020 2027. not 2028. Unrecognized Tax Benefits During the fiscal year ended January 31, 2021, may twelve The following table reconciles the gross amounts of unrecognized tax benefits at the beginning and end of the period: Years Ended January 31, 2021 2020 (in thousands) Unrecognized tax benefits at beginning of the year $ 1,171 $ 1,168 Decreases as a result of tax positions taken in a prior period — — Increases as a result of tax positions taken in the prior period 130 143 Reduction as a result of a lapse of the statute of limitations (5 ) (37 ) Decreases as a result of settlements with taxing authorities — (103 ) Unrecognized tax benefit at end of year $ 1,296 $ 1,171 All of the unrecognized tax benefits included in the Consolidated Balance Sheet at January 31, 2021 The total amount of interest recognized in the Consolidated Statement of Operations and Comprehensive Income (Loss) for unpaid taxes was $22,000 for the year ended January 31, 2021. January 31, 2021 Audit Status and Open Statutes The Company files U.S. federal, state, and foreign tax returns that are subject to audit by various tax authorities. The Company is currently under audit in: ● India for fiscal years ended March 31, 2010, 2013, 2018* ● France for fiscal years ended January 31, 2018, 2019 2020 During fiscal 2021, no ● Germany for fiscal years ended January 31, 2015, 2016 2017 ● Thailand for fiscal year ended January 31, 2018 ● Mexico for fiscal years ended December 31, 2015, 2016, 2017 2018 ● India for fiscal year ended March 31, 2018* *QAD has had multiple audits of different subsidiaries in India. One of these audits for the fiscal year ended March 31, 2018 The Company files U.S. federal, state, and foreign income tax returns in jurisdictions with varying statute of limitations. The years that may January 31, 2021: Jurisdiction Years Open for Audit U.S. federal Fiscal year 2018 and beyond California Fiscal year 2017 and beyond Michigan Fiscal year 2017 and beyond New Jersey Fiscal year 2017 and beyond Australia Fiscal year 2017 and beyond France Fiscal year 2018 and beyond India Fiscal years 2010, 2013 and 2019 Ireland Fiscal year 2017 and beyond United Kingdom Fiscal year 2020 and beyond China Calendar year 2016 and beyond Mexico Calendar year 2016 and beyond |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 5. EQUITY Common Stock The Company has two one 1/20th one may no The amount of any dividend payable in cash or non-cash property of the Company (other than a dividend payable solely in the Company’s capital stock) with respect to each share of Class A Common Stock is equal to 120% of the value of any such dividend payable with respect to a share of Class B Common Stock, except for dividends declared for the purpose of distributing all or some of the proceeds received by the Company from any transaction determined by the Board to be a material transaction not Dividends The following table sets forth the dividends declared and paid by the Company during fiscal 2021: Declaration Date Record Date Payable Dividend Class A Dividend Class B (in thousands) 12/14/2020 12/29/2020 1/7/2021 $ 0.072 $ 0.06 $ 1,450 9/9/2020 9/23/2020 9/30/2020 $ 0.072 $ 0.06 $ 1,451 6/11/2020 6/25/2020 7/7/2020 $ 0.072 $ 0.06 $ 1,448 4/7/2020 4/22/2020 4/29/2020 $ 0.072 $ 0.06 $ 1,431 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. Stock Plans On June 14, 2016, 2016 2016 2016 2016 July 1, 2016, 2006 January 31, 2021, The Company issues restricted stock units (RSUs) to employees under the 2016 four In fiscal 2020, 2016 2021 1/2 two 2020 1/3 three no In prior years, the Company has issued equity awards in the form of stock-settled SARs to the President of the Company. A SAR is a contractual right to receive value tied to the post-grant appreciation of the underlying stock. Although the Company has the ability to grant stock-settled or cash-settled SARs, the Company has only granted stock-settled SARs. Upon vesting, a holder of a stock-settled SAR receives shares in the Company’s common stock equal to the intrinsic value of the SAR at time of exercise. Under the 2016 2006 eight four not 718, Equity awards are also issued to non-employee Board members that are newly-appointed or reelected at the Annual Meeting of Stockholders. They are granted Class A shares as stock payments that are fully vested on the date of grant. Equity awards to non-employee Board members are limited to $250,000 per year, as determined for the Company’s financial accounting purposes as of the date of grant. Under the 2016 2016 may one Stock-Based Compensation The following table sets forth reported stock-based compensation expense included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the fiscal years ended January 31, 2021, 2020 2019: Years Ended January 31, 2021 2020 2019 (in thousands) Stock-based compensation expense: Cost of subscription $ 544 $ 315 $ 252 Cost of maintenance 479 540 497 Cost of professional services 1,652 1,456 1,219 Sales and marketing 2,913 2,057 2,111 Research and development 2,241 1,863 1,620 General and administrative 6,363 5,123 4,423 Total stock-based compensation expense $ 14,192 $ 11,354 $ 10,122 RSU Information The following table summarizes the activity for RSUs for the fiscal years ended January 31, 2021, 2020 2019: RSUs (in thousands) Weighted Average Grant Date Fair Value Restricted stock at January 31, 2018 653 $ 25.10 Granted 300 51.70 Released (1) (263 ) 25.80 Forfeited (27 ) 30.63 Restricted stock at January 31, 2019 663 $ 36.64 Granted 281 40.43 Released (1) (267 ) 32.71 Forfeited (50 ) 38.51 Restricted stock at January 31, 2020 627 $ 39.86 Granted 350 40.50 Released (1) (258 ) 35.99 Forfeited (21 ) 41.67 Restricted stock at January 31, 2021 698 $ 41.56 ( 1 The number of RSUs released includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal years ended January 31, 2021, 2020 2019, January 31, 2021, 2020 2019 Total unrecognized compensation cost related to RSUs was approximately $22.4 million as of January 31, 2021. PSU Information The estimated fair value of PSUs was calculated based on the closing price of the Company’s common stock on the date of grant, reduced by the present value of dividends foregone during the vesting period. The vesting is subject to attainment of specified performance criteria. Each fiscal quarter, QAD estimates the probability of the achievement of the performance goal and recognizes any related stock-based compensation expense using the graded-vesting method. The amount of stock-based compensation expense recognized in any one not no Stock-based compensation expense related to performance-based restricted stock grants for fiscal year 2021 The following table summarizes the activity for PSUs for the fiscal years ended January 31, 2021 2020: PSUs (in thousands) Weighted Average Grant Date Fair Value Performance stock units at January 31, 2019 — $ — Granted 93 39.82 Released — — Forfeited (3 ) 39.82 Performance stock units at January 31, 2020 90 $ 39.82 Granted 93 40.54 Released (1) (21 ) 39.82 Forfeited (9 ) 39.82 Performance stock units at January 31, 2021 153 $ 40.26 ( 1 The number of PSUs released includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal year ended January 31, 2021, January 31, 2021 $0.3 Total unrecognized compensation cost related to PSUs was approximately $2.4 million as of January 31, 2021. SAR Information The weighted average assumptions used to value SARs are shown in the following table. Year Ended January 31, 2019 Expected life in years 5.50 Risk free interest rate 2.80 % Volatility 31 % Dividend rate 0.54 % The following table summarizes the activity for outstanding SARs for the fiscal years ended January 31, 2021, 2020 2019: SARs (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2018 3,024 $ 17.78 Granted 380 53.50 Exercised (390 ) 9.43 Expired (5 ) 9.17 Forfeited (476 ) 37.14 Outstanding at January 31, 2019 2,533 $ 20.81 Granted — — Exercised (1,184 ) 16.19 Expired — — Forfeited — — Outstanding at January 31, 2020 1,349 $ 24.86 Granted — — Exercised (205 ) 12.91 Expired — — Forfeited — — Outstanding at January 31, 2021 1,144 $ 27.01 2.9 $ 40,971 Vested and exercisable at January 31, 2021 1,002 $ 24.28 2.5 $ 38,324 The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the aggregate difference between the closing stock price of the Company’s common stock based on the last trading day as of January 31, 2021 January 31, 2021. January 31, 2021, 2020 2019 January 31, 2019 No 2021 2020. The number of SARs exercised includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal years ended January 31, 2021, 2020 2019, January 31, 2021, 2019 2018 At January 31, 2021, |
Note 7 - Business Combination
Note 7 - Business Combination | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 7. Allocation Network On December 31, 2020, 1998 three The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands): Tangible assets, including cash acquired of $0.9 million $ 3,420 Goodwill 12,785 Other intangible assets 7,751 Total assets acquired 23,956 Liabilities assumed (1,576 ) Deferred tax liability (2,549 ) Net assets acquired $ 19,831 The Company believes the amount of goodwill resulting from the purchase price allocation is attributable to the expected synergistic benefits of being able to leverage Allocation Network’s software with the Company’s existing software to provide an integrated suite to the customer bases of both the Company and Allocation Network. The acquired goodwill is not Identified intangible assets will be amortized to cost of subscription and operating expense based upon the nature of the asset ratably over the estimated useful life, as detailed in the table below (in thousands, except year amounts): Estimated useful life (years) Fair value Estimated annual amortization Statement of operations classification Software technology 5 $ 6,056 $ 1,211 Cost of subscription Customer relationships 5 1,695 339 Amortization of intangible assets from acquisitions $ 7,751 The Company has evaluated and continues to evaluate pre-acquisition contingencies relating to Allocation Network that existed as of the acquisition date. The Company has preliminarily determined that certain of these pre-acquisition contingencies are probable in nature and estimable as of the acquisition date and, accordingly, has recorded its best estimates for these contingencies as a part of the purchase price allocation. The Company continues to gather information and evaluate pre-acquisition contingencies that it has assumed. If the Company makes changes to the amounts recorded or identifies additional pre-acquisition contingencies during the remainder of the measurement period, such amounts recorded will be recorded as adjustments to the purchase price allocation. The financial results of Allocation Network are included in the Consolidated Financial Statements from the date of acquisition. Pro forma information has not not |
Note 8 - Goodwill and Intangibl
Note 8 - Goodwill and Intangible Assets | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. Goodwill The changes in the carrying amount of goodwill for the fiscal years ended January 31, 2020 2021 Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2019 $ 28,031 $ (15,608 ) $ 12,423 Impact of foreign currency translation (35 ) — (35 ) Balance at January 31, 2020 $ 27,996 $ (15,608 ) $ 12,388 Additions 12,785 12,785 Impact of foreign currency translation 163 - 163 Balance at January 31, 2021 $ 40,944 $ (15,608 ) $ 25,336 Additions to goodwill for the fiscal year ended January 31, 2021 During each of the fourth 2021, 2020 2019, November 30. no 2021, 2020 2019. not Intangible Assets Intangible assets and accumulated amortization at January 31 2021 2020 (in thousands) Amortizable intangible assets: Customer relationships $ 3,039 $ 1,379 Less accumulated amortization (681 ) (394 ) Net amortizable intangible assets $ 2,358 $ 985 The Company’s intangible assets are related to acquisitions completed in the second third 2019 fourth 2021. five Amortization of intangible assets from acquisitions was $0.3 million, $0.3 million and $0.1 million for fiscal 2021, 2020 2019, January 31, 2021: Fiscal Years (in thousands) 2022 $ 605 2023 608 2024 495 2025 339 Thereafter 311 $ 2,358 |
Note 9 - Other Balance Sheet Ac
Note 9 - Other Balance Sheet Accounts | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Other Balance Sheet Accounts [Text Block] | 9. January 31, 2021 2020 (in thousands) Prepaid expenses and other current assets, net Deferred cost of revenue $ 8,052 $ 8,096 Prepaid expenses 5,228 6,140 Capitalized costs to obtain a contract, net 4,421 3,961 Assets held for sale - 1,634 Contract assets 2,014 1,595 VAT receivable 100 1,174 Capitalized costs to fulfill a contract, net 513 543 Income tax receivable, net of payables 1,686 963 Other 909 846 $ 22,923 $ 24,952 Other assets, net Long-term capitalized costs to obtain a contract, net $ 8,723 $ 8,371 Long-term deposits and prepaid expenses 2,185 2,462 Other intangible assets, net 2,358 985 Long-term capitalized costs to fulfill a contract, net 828 886 Other 204 303 $ 14,298 $ 13,007 Accounts payable Trade payables $ 5,733 $ 6,155 VAT payable 5,165 3,685 $ 10,898 $ 9,840 Other current liabilities Accrued commissions and bonus $ 14,514 $ 15,023 Accrued compensated absences 8,250 8,377 Other accrued payroll 5,154 6,795 Accrued professional fees 2,419 2,628 Contingent liability associated with acquisitions 2,191 - Accrued travel 304 1,264 Accrued contract labor 978 934 Other 3,621 4,879 $ 37,431 $ 39,900 Other liabilities Long-term deferred revenue $ 2,705 $ 2,811 Accrued termination benefits 3,564 2,600 Long-term contingent liability associated with acquisitions 2,560 - Long-term accrued travel 1,854 - Other 1,819 1,348 $ 12,502 $ 6,759 |
Note 10 - Debt
Note 10 - Debt | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. January 31, 2021 2020 (in thousands) Note payable $ 12,366 $ 12,868 Less current maturities (527 ) (503 ) Less loan origination costs, net (14 ) (24 ) Long-term debt $ 11,825 $ 12,341 Effective May 30, 2012, 2012 2012 one January 31, 2021. 2012 June 2022 2012 2012 2012 one January 31, 2021 |
Note 11 - Leases
Note 11 - Leases | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 11. The Company leases certain office space, office equipment and autos with remaining lease terms from two ten not one ten Supplemental balance sheet information related to leases was as follows: January 31, 2021 2020 (in thousands) Assets Operating $ 20,689 $ 18,154 Finance 327 175 Total lease assets, net $ 21,016 $ 18,329 Liabilities Current Operating $ 4,784 $ 4,307 Finance 120 64 Noncurrent Operating 17,310 14,524 Finance 200 88 Total lease liabilities $ 22,414 $ 18,983 The components of lease costs were as follows: January 31, 2021 2020 (in thousands) Operating lease cost $ 5,881 $ 5,963 Finance lease cost 145 58 Variable lease cost 1,362 1,447 Short-term lease cost 141 229 Total lease cost $ 7,529 $ 7,697 Lease term and discount rate (all leases) were as follows: January 31, 2021 2020 Weighted-average remaining lease term (in years) 5.5 5.9 Weighted-average discount rate 4.84 % 5.79 % Supplemental disclosures of cash flow information related to leases were as follows: January 31, 2021 2020 (in thousands) Cash flows related to lease liabilities Operating cash flows related to operating lease liabilities $ (5,378 ) $ (6,077 ) Financing cash flows related to finance lease liabilities (119 ) (47 ) Total cash flows related to lease liabilities $ (5,497 ) $ (6,124 ) Non-cash items Leased assets obtained in exchange for new operating lease liabilities $ 6,570 $ 10,419 Leased assets obtained in exchange for new finance lease liabilities 290 222 Total non-cash items $ 6,860 $ 10,641 Maturities of lease liabilities were as follows as of January 31, 2020 2021 Within 1 year $ 5.9 $ 5.2 2 years 5.3 4.0 3 years 4.3 3.2 4 years 3.2 2.6 5 years 2.6 2.2 Thereafter 4.5 5.5 Total lease payments $ 25.8 $ 22.7 Less: Imputed interest (3.4 ) (3.7 ) Present value of lease liabilities $ 22.4 $ 19.0 The Company is a lessor for certain office space owned by the Company and leased to others under non-cancelable leases with initial terms ranging from one six one six no no 2021, |
Note 12 - Accumulated Other Com
Note 12 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Accumulated Other Comprehensive Income (Loss) [Text Block] | 12. The components of accumulated other comprehensive loss were as follows: Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2019 $ (7,661 ) Other comprehensive loss before reclassifications (684 ) Amounts reclassified from accumulated other comprehensive loss — Net current period other comprehensive loss (684 ) Balance as of January 31, 2020 $ (8,345 ) Other comprehensive income before reclassifications 157 Amounts reclassified from accumulated other comprehensive loss — Net current period other comprehensive income 157 Balance as of January 31, 2021 $ (8,188 ) During fiscal 2021 2020 |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plans | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 13. The Company has a defined contribution 401 30 may first four 2021, 2020 2019 Various QAD foreign subsidiaries also contribute to defined contribution pension plans. Employer contributions in these plans are generally based on employee salary and range from 2% to 20%. These plans are funded at various times throughout the year according to plan provisions, with aggregate employer contributions of $4.1 million for fiscal 2021, 2020 2019. |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14. Purchase Obligations At January 31, 2021, 2025. Indemnifications The Company sells software licenses and services to its customers under written agreements. Each agreement contains the relevant terms of the contractual arrangement with the customer and generally includes certain provisions for indemnifying the customer against losses, expenses and liabilities from damages that may third The Company believes its internal development processes and other policies and practices limit its exposure related to the indemnification provisions of the agreements. For several reasons, including the lack of prior indemnification claims and the lack of a monetary liability limit for certain infringement cases under the agreements, the Company cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions. Legal Actions The Company is subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. While the outcome of these claims cannot be predicted with certainty, management does not |
Note 15 - Business Segment Info
Note 15 - Business Segment Information | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 15. The Company markets its products and services worldwide, primarily to companies in the manufacturing industry, including automotive, consumer products, food and beverage, high technology, industrial products and life sciences industries. The Company sells and licenses its products through its direct sales force in four third 606, not 280, Segment Reporting not one Subscription, license and maintenance revenues are generally assigned to the region where a majority of end users are located. Professional services revenue is assigned based on the region where the services are delivered. Years Ended January 31, 2021 2020 2019 (in thousands) Revenue: North America (1) $ 155,244 $ 151,097 $ 162,307 EMEA 93,351 90,885 96,989 Asia Pacific 39,327 46,363 51,628 Latin America 19,943 22,427 22,092 $ 307,865 $ 310,772 $ 333,016 ( 1 Sales into Canada accounted for 2% of North America total revenue for each of the fiscal years 2021, 2020 2019. Property and equipment, net are assigned by geographic region based on the location of each legal entity. January 31, 2021 2020 (in thousands) Property and equipment, net: North America $ 21,358 $ 23,439 EMEA 2,792 3,262 Asia Pacific 1,307 1,674 Latin America 141 312 $ 25,598 $ 28,687 |
Note 16 - Quarterly Information
Note 16 - Quarterly Information (Unaudited) | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 16. Quarters Ended April 30 July 31 Oct. 31 Jan. 31 (in thousands, except per share data) Fiscal 2021 Total revenue $ 74,147 $ 74,081 $ 76,660 $ 82,977 Total costs and expenses 75,080 71,768 72,593 75,726 Gross margin 41,722 43,258 46,005 51,508 Operating (loss) income (933 ) 2,313 4,067 7,251 Net (loss) income (410 ) 60 3,213 8,202 Basic net (loss) income per share Class A $ (0.02 ) $ 0.00 $ 0.16 $ 0.41 Class B (0.02 ) 0.00 0.13 0.34 Diluted net (loss) income per share Class A $ (0.02 ) $ 0.00 $ 0.16 $ 0.39 Class B (0.02 ) 0.00 0.13 0.33 Fiscal 2020 Total revenue $ 78,035 $ 76,378 $ 77,807 $ 78,552 Total costs and expenses 81,297 80,551 76,411 78,201 Gross margin 41,101 40,346 44,090 45,326 Operating (loss) income (3,262 ) (4,173 ) 1,396 351 Net (loss) income (3,234 ) (13,250 ) 125 410 Basic net (loss) income per share Class A $ (0.17 ) $ (0.69 ) $ 0.01 $ 0.02 Class B (0.14 ) (0.57 ) 0.01 0.02 Diluted net (loss) income per share Class A $ (0.17 ) $ (0.69 ) $ 0.01 $ 0.02 Class B (0.14 ) (0.57 ) 0.01 0.02 |
Note 17 - Subsequent Event
Note 17 - Subsequent Event | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 17. On April 5, 2021, four three |
Schedule II - Schedule of Valua
Schedule II - Schedule of Valuation and Qualifying Accounts | 12 Months Ended |
Jan. 31, 2021 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS (in thousands) Balance at Beginning of Period Charged to Statements of Operations and Comprehensive Income (Loss) Write-Offs, Net of Recoveries Impact of Foreign Currency Translation and Other Balance at End of Period Year ended January 31, 2019 Allowance for bad debt $ 396 $ 144 $ (31 ) $ (22 ) $ 487 Allowance for sales adjustments 1,367 1,608 (518 ) (43 ) 2,414 Total allowance for doubtful accounts $ 1,763 $ 1,752 $ (549 ) $ (65 ) $ 2,901 Year ended January 31, 2020 Allowance for bad debt $ 487 $ 92 $ (24 ) $ (12 ) $ 543 Allowance for sales adjustments 2,414 393 (376 ) (34 ) 2,397 Total allowance for doubtful accounts $ 2,901 $ 485 $ (400 ) $ (46 ) $ 2,940 Year ended January 31, 2021 Allowance for bad debt $ 543 $ 479 $ (5 ) $ 84 $ 1,101 Allowance for sales adjustments 2,397 741 (1,019 ) 120 2,239 Total allowance for doubtful accounts $ 2,940 $ 1,220 $ (1,024 ) $ 204 $ 3,340 See accompanying report of independent registered public accounting firm. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2021 | |
Accounting Policies [Abstract] | |
Business Description [Policy Text Block] | BUSINESS QAD is a leader in cloud-based enterprise software solutions for global manufacturing companies. The Company’s solutions, called QAD Adaptive Applications, are designed specifically for automotive suppliers, life sciences, consumer products, food and beverage, high technology and industrial products manufacturers. QAD software offers a full set of core manufacturing enterprise resource planning (ERP) and supply chain management capabilities. The Company’s architecture, called the QAD Enterprise Platform, allows customers to upgrade existing functionality by module; and extend or create new applications, providing manufacturers with the flexibility they need to innovate and rapidly adapt to change. QAD was founded in 1979, 1986 1997. |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of QAD Inc. and all of its subsidiaries. All subsidiaries are wholly-owned and all significant balances and transactions among the entities have been eliminated from the consolidated financial statements. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and, accordingly, include amounts based on informed estimates and judgments of management that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Company’s financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Changes in estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. Significant items subject to such estimates and assumptions made by management include, but are not ● revenue recognition; ● the fair value of assets acquired and liabilities assumed for business combinations; ● the average period of benefit associated with deferred contract acquisition and fulfillment costs; ● the fair value of certain stock awards issued; ● the useful life and recoverability of long-lived and intangible assets; and ● the recognition, measurement and valuation of deferred income taxes. The World Health Organization declared in March 2020 19 2021 no may may not may may |
Reclassification, Comparability Adjustment [Policy Text Block] | RECLASSIFICATION Certain prior year amounts included in Notes to Consolidated Financial Statements have been reclassified for consistency with the current year presentation. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | FOREIGN CURRENCY TRANSLATIONS AND TRANSACTIONS The financial position and results of operations of the Company’s foreign subsidiaries are generally determined using the country’s local currency as the functional currency. Assets and liabilities recorded in foreign currencies are translated at the exchange rates on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to other comprehensive income (loss), which is included in “Accumulated other comprehensive loss” within the Consolidated Balance Sheets. Gains and losses resulting from foreign currency transactions and remeasurement adjustments of monetary assets and liabilities not 2021, 2020 2019 |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH AND EQUIVALENTS Cash and equivalents consist of cash and short-term marketable securities with maturities of less than 90 90 January 31, 2021 2020, |
Receivable [Policy Text Block] | ACCOUNTS RECEIVABLE, NET Accounts receivable, net, consisted of the following as of January 31: 2021 2020 (in thousands) Accounts receivable $ 85,949 $ 83,908 Less allowance for: Doubtful accounts (1,101 ) (543 ) Sales adjustments (2,239 ) (2,397 ) Accounts receivable, net $ 82,609 $ 80,968 Trade accounts receivable are recorded at the invoiced amount and do not may not The Company does not may |
Assets Held for Sale [Policy Text Block] | SALE OF BUILDING During the second 2020, third 2021 |
Financial Instruments and Concentration of Credit Risk [Policy Text Block] | FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK The carrying amounts of cash and equivalents, short-term investments, accounts receivable and accounts payable approximate fair value due to the short-term maturities of these instruments. The Company’s note payable bears a variable market interest rate, subject to certain minimum interest rates. Therefore, the carrying amount outstanding under the note payable reasonably approximates fair value. Concentration of credit risk with respect to trade receivables is limited due to a large number of customers comprising the Company’s customer base, and their dispersion across many different industries and locations throughout the world. No 10% January 31, 2021 2020. January 31, 2019 2019 10%. no 10% January 31, 2021 2020. |
Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Additions and significant improvements to property and equipment are capitalized, while maintenance and repairs are expensed as incurred. For financial reporting purposes, depreciation is generally expensed via the straight-line method over the useful life of three five five Certain costs associated with software developed for internal use, including payroll costs for employees, are capitalized once the project has reached the application development stage and are included in property and equipment classified as software. These costs are amortized using the straight-line method over the expected useful life of the software, beginning when the asset is substantially ready for use. Costs incurred related to the preliminary project stage, training and research and development are expensed as incurred. Property and equipment, net consisted of the following as of January 31: 2021 2020 (in thousands) Buildings and building improvements $ 29,562 $ 29,902 Computer equipment and software 18,858 18,345 Furniture and office equipment 8,174 8,004 Leasehold improvements 7,685 7,382 Land 3,850 3,850 Automobiles 65 65 68,194 67,548 Less accumulated depreciation and amortization (42,596 ) (38,861 ) $ 25,598 $ 28,687 The changes in property and equipment, net, for the fiscal years ended January 31 2021 2020 (in thousands) Cost Balance at February 1 $ 67,548 $ 68,794 Additions 1,933 5,671 Adjustments (1) 196 (2,234 ) Disposals (2,062 ) (4,286 ) Impact of foreign currency translation 579 (397 ) Balance at January 31 68,194 67,548 Accumulated depreciation Balance at February 1 (38,861 ) (39,173 ) Depreciation (5,011 ) (5,034 ) Adjustments (1) (71 ) 880 Disposals 1,744 4,207 Impact of foreign currency translation (397 ) 259 Balance at January 31 (42,596) (38,861 ) Property and equipment, net at January 31 $ 25,598 $ 28,687 ( 1 Fiscal 2020 second 2020. Depreciation and amortization expense of property and equipment for fiscal 2021, 2020 2019 |
Capitalization of Software Costs, Policy [Policy Text Block] | CAPITALIZED SOFTWARE COSTS The Company capitalizes software purchased from third The amortization of capitalized software costs is the greater of the straight-line basis over three Capitalized software costs and accumulated amortization at January 31 2021 2020 (in thousands) Capitalized software costs: Capitalized software development costs $ 3,655 $ 3,356 Acquired software technology 6,191 135 9,846 3,491 Less accumulated amortization (1,866 ) (1,569 ) Capitalized software costs, net $ 7,980 $ 1,922 The Company‘s capitalized software development costs relate to translations and localizations of QAD Adaptive Applications. Acquired software technology costs primarily relate to intellectual property purchased during the fourth 2021. It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during fiscal 2021, 2021. Amortization of capitalized software costs for fiscal 2021, 2020 2019 The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of January 31, 2021: Fiscal Years (in thousands) 2022 $ 2,276 2023 1,913 2024 1,469 2025 1,212 Thereafter 1,110 $ 7,980 |
Business Combinations Policy [Policy Text Block] | BUSINESS COMBINATION The Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed, based upon their estimated fair values at the acquisition date. The purchase price allocation process requires management to make significant estimates and assumptions, especially at the acquisition date with respect to intangible assets. These assumptions and estimates are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain. The estimates in valuing certain of the intangible assets can include, but are not The Company estimates the fair value of the contingent consideration issued in business combinations using a Monte Carlo valuation approach, as well as unobservable inputs, such as forecasted financial information, reflecting its assessment of the assumptions market participants would use to value these liabilities. The fair values of liability-classified contingent consideration are remeasured at each reporting period with any changes in the fair value recorded as income or expense. The potential undiscounted amount of all future cash payments under the contingent consideration agreements is between zero and $10.2 million as of January 31, 2021. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | IMPAIRMENT ASSESSMENT OF LONG-LIVED ASSETS AND INTANGIBLES OTHER THAN GOODWILL The Company evaluates long-lived assets, capitalized software and other intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not not may not The Company reviews the impairment of right-of-use (ROU) assets consistent with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets when events or changes in circumstances occur that indicate the carrying value of the asset may not There were no impairments of long-lived assets, capitalized software, or other intangible assets during fiscal 2021, 2020, 2019, |
Lessee, Leases [Policy Text Block] | LEASES The Company treats a contract as a lease when the contract conveys the right to use a physically distinct asset for a period of time in exchange for consideration, the Company directs the use of the asset and the Company obtains substantially all the economic benefits of the asset. These leases are recorded as ROU assets and lease obligation liabilities for leases with terms greater than 12 not February 1, 2019 The Company has applied the practical expedient available for lessees in which lease and non-lease components are accounted for as a single lease component for all asset classes. The Company also elected the practical expedient to exclude short-term leases (leases with original terms of 12 The Company’s operating lease expense is recognized on a straight-line basis over the lease term. Amortization expense of the ROU asset for finance leases is recognized on a straight-line basis over the lease term and interest expense for finance leases is recognized based on the incremental borrowing rate. Variable lease payments are expensed as incurred for both operating and finance leases. Variable payments change due to facts or circumstances occurring after the commencement date, other than the passage of time, and do not not |
Share-based Payment Arrangement [Policy Text Block] | STOCK-BASED COMPENSATION The Company accounts for share-based payments (equity awards) to employees in accordance with ASC 718, Compensation Stock Compensation 718 Fair Value of RSUs The fair value of restricted stock units (RSUs) is determined on the grant date of the award as the market price of the Company’s common stock on the date of grant, reduced by the present value of estimated dividends foregone during the vesting period. Judgment is required in determining the present value of estimated dividends foregone during the vesting period. The Company estimates the dividends for purposes of this calculation based on the Company’s historical dividend payments per share, which has remained consistent over the last four Fair Value of PSUs The fair value of performance stock units (PSUs) is determined on the grant date of the award as the market price of the Company’s common stock on the date of grant, reduced by the present value of estimated dividends foregone during the vesting period. Judgment is required in determining the present value of estimated dividends foregone during the vesting period. The Company estimates the dividends for purposes of this calculation based on the Company’s historical dividend payments per share, which has remained consistent over the last three Fair Value of SARs The fair value of stock-settled stock appreciation rights (SARs) is determined on the grant date of the award using the Black-Scholes-Merton valuation model. One of the inputs to the Black-Scholes-Merton valuation model is the fair market value of the Company’s stock on the date of grant. Judgment is required in determining the remaining inputs to the Black-Scholes-Merton valuation model. These inputs include the expected life, volatility, the risk-free interest rate and the dividend rate. The following describes the Company’s policies with respect to determining these valuation inputs: Expected Life - two Volatility - Risk-Free Interest Rate - Dividend Rate - The Company records deferred tax assets for equity awards that result in deductions on its income tax returns, based on the amount of stock-based compensation recognized and the fair values attributable to the vested portion of those equity awards. Because the deferred tax assets the Company records are based upon the stock-based compensation expenses in a particular jurisdiction, the aforementioned inputs that affect the fair values of equity awards may |
Comprehensive Income, Policy [Policy Text Block] | COMPREHENSIVE INCOME (LOSS) Comprehensive income (loss) includes changes in the balances of items that are reported directly as a separate component of stockholders’ equity on the Consolidated Balance Sheets. The components of comprehensive income (loss) are net income (loss) and foreign currency translation adjustments. The Company does not not |
Advertising Cost [Policy Text Block] | ADVERTISING EXPENSES Advertising costs are expensed as incurred. Advertising expenses were $0.9 million, $0.6 million and $0.7 million for fiscal years 2021, 2020 2019. |
Research, Development, and Computer Software, Policy [Policy Text Block] | RESEARCH AND DEVELOPMENT All costs incurred to establish the technological feasibility of the Company’s software products are expensed to research and development (R&D) as incurred. R&D expenses totaled $56.1 million, $54.7 million and $54.0 million in fiscal years 2021, 2020 2019, |
Non-operating Expense, Net [Policy Text Block] | OTHER EXPENSE (INCOME), NET The components of other expense (income), were as follows: Years Ended January 31, 2021 2020 2019 (in thousands) Interest income $ (923 ) $ (2,782 ) $ (2,600 ) Interest expense 591 630 643 Foreign exchange losses (gains) 2,018 (50 ) (229 ) Change in fair value of interest rate swap 93 368 51 Other expense (income), net 98 (250 ) (209 ) Total other expense (income), net $ 1,877 $ (2,084 ) $ (2,344 ) |
Earnings Per Share, Policy [Policy Text Block] | COMPUTATION OF NET INCOME (LOSS) PER SHARE Net income (loss) per share of Class A common stock and Class B common stock is computed using the two The following table sets forth the computation of basic and diluted net income (loss) per share: Years Ended January 31, 2021 2020 2019 (in thousands, except per share data) Net income (loss) $ 11,065 $ (15,949 ) $ 10,428 Less: dividends declared (5,780 ) (5,617 ) (5,479 ) Undistributed net income (loss) $ 5,285 $ (21,566 ) $ 4,949 Net income (loss) per share Class A Common Stock Dividends declared $ 4,982 $ 4,827 $ 4,696 Allocation of undistributed net income (loss) 4,559 (18,519 ) 4,243 Net income (loss) attributable to Class A common stock $ 9,541 $ (13,692 ) $ 8,939 Weighted average shares of Class A common stock outstanding— basic 17,274 16,709 16,267 Weighted average potential shares of Class A common stock 748 — 1,585 Weighted average shares of Class A common stock and potential common shares outstanding— diluted 18,022 16,709 17,852 Basic net income (loss) per Class A common share $ 0.55 $ (0.82 ) $ 0.55 Diluted net income (loss) per Class A common share $ 0.53 $ (0.82 ) $ 0.50 Net income (loss) per share Class B Common Stock Dividends declared $ 798 $ 790 $ 783 Allocation of undistributed net income (loss) 726 (3,047 ) 706 Net income (loss) attributable to Class B common stock $ 1,524 $ (2,257 ) $ 1,489 Weighted average shares of Class B common stock outstanding— basic 3,326 3,289 3,256 Weighted average potential shares of Class B common stock 67 — 166 Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,393 3,289 3,422 Basic net income (loss) per Class B common share $ 0.46 $ (0.69 ) $ 0.46 Diluted net income (loss) per Class B common share $ 0.45 $ (0.69 ) $ 0.44 Potential common shares consist of the shares issuable upon the release of RSUs and PSUs, and the exercise of SARs. The Company’s unvested RSUs and PSUs, and unexercised SARs are not not The following table sets forth the number of potential common shares not Years Ended January 31, 2021 2020 2019 (in thousands) Class A 190 2,473 325 Class B — 221 — |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS With the exception of those discussed below, there have been no January 31, 2021, Recent Accounting Pronouncements Adopted In January 2017, 2017 04, Intangibles Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment, 2” February 1, 2020, first 2021. not In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 February 1, 2020, first 2021, not In August 2018, 2018 15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350 40 s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract 350 40, February 1, 2020, first 2021. not Recent Accounting Pronouncements Not In December 2019, 740 740. first 2022. not |
Note 1 - Summary of Business _2
Note 1 - Summary of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2021 2020 (in thousands) Accounts receivable $ 85,949 $ 83,908 Less allowance for: Doubtful accounts (1,101 ) (543 ) Sales adjustments (2,239 ) (2,397 ) Accounts receivable, net $ 82,609 $ 80,968 |
Property, Plant and Equipment [Table Text Block] | 2021 2020 (in thousands) Buildings and building improvements $ 29,562 $ 29,902 Computer equipment and software 18,858 18,345 Furniture and office equipment 8,174 8,004 Leasehold improvements 7,685 7,382 Land 3,850 3,850 Automobiles 65 65 68,194 67,548 Less accumulated depreciation and amortization (42,596 ) (38,861 ) $ 25,598 $ 28,687 |
Changes in Property and Equipment [Table Text Block] | 2021 2020 (in thousands) Cost Balance at February 1 $ 67,548 $ 68,794 Additions 1,933 5,671 Adjustments (1) 196 (2,234 ) Disposals (2,062 ) (4,286 ) Impact of foreign currency translation 579 (397 ) Balance at January 31 68,194 67,548 Accumulated depreciation Balance at February 1 (38,861 ) (39,173 ) Depreciation (5,011 ) (5,034 ) Adjustments (1) (71 ) 880 Disposals 1,744 4,207 Impact of foreign currency translation (397 ) 259 Balance at January 31 (42,596) (38,861 ) Property and equipment, net at January 31 $ 25,598 $ 28,687 |
Schedule of Capitalized Software Costs [Table Text Block] | 2021 2020 (in thousands) Capitalized software costs: Capitalized software development costs $ 3,655 $ 3,356 Acquired software technology 6,191 135 9,846 3,491 Less accumulated amortization (1,866 ) (1,569 ) Capitalized software costs, net $ 7,980 $ 1,922 |
Schedule of Capitalized Software Costs Amortization Expense [Table Text Block] | Fiscal Years (in thousands) 2022 $ 2,276 2023 1,913 2024 1,469 2025 1,212 Thereafter 1,110 $ 7,980 |
Schedule of Other Nonoperating Expense, by Component [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Interest income $ (923 ) $ (2,782 ) $ (2,600 ) Interest expense 591 630 643 Foreign exchange losses (gains) 2,018 (50 ) (229 ) Change in fair value of interest rate swap 93 368 51 Other expense (income), net 98 (250 ) (209 ) Total other expense (income), net $ 1,877 $ (2,084 ) $ (2,344 ) |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands, except per share data) Net income (loss) $ 11,065 $ (15,949 ) $ 10,428 Less: dividends declared (5,780 ) (5,617 ) (5,479 ) Undistributed net income (loss) $ 5,285 $ (21,566 ) $ 4,949 Net income (loss) per share Class A Common Stock Dividends declared $ 4,982 $ 4,827 $ 4,696 Allocation of undistributed net income (loss) 4,559 (18,519 ) 4,243 Net income (loss) attributable to Class A common stock $ 9,541 $ (13,692 ) $ 8,939 Weighted average shares of Class A common stock outstanding— basic 17,274 16,709 16,267 Weighted average potential shares of Class A common stock 748 — 1,585 Weighted average shares of Class A common stock and potential common shares outstanding— diluted 18,022 16,709 17,852 Basic net income (loss) per Class A common share $ 0.55 $ (0.82 ) $ 0.55 Diluted net income (loss) per Class A common share $ 0.53 $ (0.82 ) $ 0.50 Net income (loss) per share Class B Common Stock Dividends declared $ 798 $ 790 $ 783 Allocation of undistributed net income (loss) 726 (3,047 ) 706 Net income (loss) attributable to Class B common stock $ 1,524 $ (2,257 ) $ 1,489 Weighted average shares of Class B common stock outstanding— basic 3,326 3,289 3,256 Weighted average potential shares of Class B common stock 67 — 166 Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,393 3,289 3,422 Basic net income (loss) per Class B common share $ 0.46 $ (0.69 ) $ 0.46 Diluted net income (loss) per Class B common share $ 0.45 $ (0.69 ) $ 0.44 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Class A 190 2,473 325 Class B — 221 — |
Note 2 - Revenue (Tables)
Note 2 - Revenue (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) North America $ 155,244 $ 151,097 $ 162,307 EMEA 93,351 90,885 96,989 Asia Pacific 39,327 46,363 51,628 Latin America 19,943 22,427 22,092 Total revenue $ 307,865 $ 310,772 $ 333,016 Years Ended January 31, 2021 2020 2019 (in thousands) Automotive $ 95,009 $ 110,900 $ 128,249 Consumer products and food and beverage 51,682 46,915 53,637 High technology and industrial products 111,056 106,807 106,658 Life sciences and other 50,118 46,150 44,472 Total revenue $ 307,865 $ 310,772 $ 333,016 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | As of January 31, 2021 January 31, 2020 (In thousands) Contract assets, short-term (in Prepaid expenses and other current assets, net) $ 2,014 $ 1,595 Contract assets, long-term (in Other assets, net) 103 214 Total contract assets $ 2,117 $ 1,809 Deferred revenue, short-term $ 125,724 $ 118,413 Deferred revenue, long-term (in Other liabilities) 2,705 2,811 Total deferred revenue $ 128,429 $ 121,224 As of January 31, 2021 January 31, 2020 (in thousands) Deferred maintenance $ 66,833 $ 69,650 Deferred subscription 55,873 45,702 Deferred professional services 2,649 2,705 Deferred license and other revenue 369 356 Deferred revenues, current 125,724 118,413 Deferred revenues, non-current (in Other liabilities) 2,705 2,811 Total deferred revenues $ 128,429 $ 121,224 |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair value measurement at reporting date using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) As of January 31, 2021 Money market mutual funds $ 80,611 Certificates of deposit $ 9,262 Liability related to the interest rate swap $ (325 ) Contingent liability associated with acquisitions $ (4,751 ) As of January 31, 2020 Money market mutual funds $ 107,319 Certificates of deposit $ 14,917 Liability related to the interest rate swap $ (232 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Liability Fair Value Balance Sheet Location January 31, 2021 January 31, 2020 Derivative instrument: Interest rate swap Other liabilities $ (325 ) $ (232 ) Total $ (325 ) (232 ) |
Note 4 - Income Taxes (Tables)
Note 4 - Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Domestic net income before income taxes $ 7,725 $ 2,963 $ 6,562 Foreign net income (loss) before income taxes 3,096 (6,567 ) 5,355 Income (loss) before income taxes $ 10,821 $ (3,604 ) $ 11,917 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Current: U.S. federal $ 997 $ 471 $ (829 ) State 37 130 (13 ) Foreign 2,376 2,149 3,784 Subtotal 3,410 2,750 2,942 Deferred: U.S. federal 3 25 79 State 6 (107 ) (30 ) Foreign (3,663 ) 9,677 (1,502 ) Subtotal (3,654 ) 9,595 (1,453 ) Total $ (244 ) $ 12,345 $ 1,489 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Computed expected tax expense (benefit) $ 2,272 $ (757 ) $ 2,503 State income taxes, net of federal income tax expense 272 (581 ) 96 Incremental tax expense from foreign operations 1,708 1,256 715 Equity compensation (958 ) (4,198 ) (2,916 ) Foreign withholding taxes 1,619 1,103 1,089 Net change in valuation allowance (3,438 ) 16,179 3,224 Net change in uncertain tax positions 125 3 (71 ) Non-deductible expenses (41 ) 218 1,149 Benefit of tax credits (2,569 ) (1,719 ) (3,483 ) Subpart F income 611 27 101 U.S. Tax Reform (the Tax Act) — — (1,312 ) Rate change impact 123 867 124 Other 32 (53 ) 270 Total income tax (benefit) expense $ (244 ) $ 12,345 $ 1,489 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | January 31, 2021 2020 (in thousands) Deferred tax assets: Allowance for doubtful accounts and sales adjustments $ 700 $ 600 Accrued vacation 1,305 1,499 Tax credits 24,312 22,077 Deferred revenue 2,670 3,136 Lease liabilities 5,046 4,142 Net operating loss carryforwards 13,794 15,475 Accrued expenses - other 2,543 2,038 Other comprehensive income 3,624 1,603 Section 263(a) interest capitalization 182 190 Intellectual property 4,583 6,250 Equity compensation 4,219 3,579 Carryforward of Irish amortization 5,728 3,614 Other 718 1,767 Total deferred tax assets 69,424 65,970 Less valuation allowance (48,571 ) (50,972 ) Less netting of unrecognized tax benefits against deferred tax assets (968 ) (973 ) Deferred tax assets, net of valuation allowance $ 19,885 $ 14,025 Deferred tax liabilities: Depreciation and amortization (612 ) (851 ) Acquisition accounting basis differences (2,514 ) — Costs to obtain and fulfill contracts (3,081 ) (3,054 ) ASC 842 lease right of use assets (4,756 ) (3,931 ) Other liabilities (396 ) (355 ) Total deferred tax liabilities (11,359 ) (8,191 ) Total net deferred tax assets $ 8,526 $ 5,834 |
Summary of Valuation Allowance [Table Text Block] | Jurisdiction January 31, 2021 January 31, 2020 U.S. federal and state $ 30.3 $ 30.3 Irish principal 12.0 11.6 Brazil 6.1 5.7 Germany - 2.6 Hong Kong - 0.6 South Africa 0.2 0.2 Total valuation allowance $ 48.6 $ 51.0 |
Summary of Tax Credit Carryforwards [Table Text Block] | Credit Carryforwards January 31, 2021 Foreign tax credit $ 6,338 Federal R&D credit 8,336 State R&D credit 9,380 AMT credit and New hire retention 258 Total credit $ 24,312 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Years Ended January 31, 2021 2020 (in thousands) Unrecognized tax benefits at beginning of the year $ 1,171 $ 1,168 Decreases as a result of tax positions taken in a prior period — — Increases as a result of tax positions taken in the prior period 130 143 Reduction as a result of a lapse of the statute of limitations (5 ) (37 ) Decreases as a result of settlements with taxing authorities — (103 ) Unrecognized tax benefit at end of year $ 1,296 $ 1,171 |
List of Open Tax Year by Jurisdiction [Table Text Block] | Jurisdiction Years Open for Audit U.S. federal Fiscal year 2018 and beyond California Fiscal year 2017 and beyond Michigan Fiscal year 2017 and beyond New Jersey Fiscal year 2017 and beyond Australia Fiscal year 2017 and beyond France Fiscal year 2018 and beyond India Fiscal years 2010, 2013 and 2019 Ireland Fiscal year 2017 and beyond United Kingdom Fiscal year 2020 and beyond China Calendar year 2016 and beyond Mexico Calendar year 2016 and beyond |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Dividends Declared [Table Text Block] | Declaration Date Record Date Payable Dividend Class A Dividend Class B (in thousands) 12/14/2020 12/29/2020 1/7/2021 $ 0.072 $ 0.06 $ 1,450 9/9/2020 9/23/2020 9/30/2020 $ 0.072 $ 0.06 $ 1,451 6/11/2020 6/25/2020 7/7/2020 $ 0.072 $ 0.06 $ 1,448 4/7/2020 4/22/2020 4/29/2020 $ 0.072 $ 0.06 $ 1,431 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Stock-based compensation expense: Cost of subscription $ 544 $ 315 $ 252 Cost of maintenance 479 540 497 Cost of professional services 1,652 1,456 1,219 Sales and marketing 2,913 2,057 2,111 Research and development 2,241 1,863 1,620 General and administrative 6,363 5,123 4,423 Total stock-based compensation expense $ 14,192 $ 11,354 $ 10,122 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | RSUs (in thousands) Weighted Average Grant Date Fair Value Restricted stock at January 31, 2018 653 $ 25.10 Granted 300 51.70 Released (1) (263 ) 25.80 Forfeited (27 ) 30.63 Restricted stock at January 31, 2019 663 $ 36.64 Granted 281 40.43 Released (1) (267 ) 32.71 Forfeited (50 ) 38.51 Restricted stock at January 31, 2020 627 $ 39.86 Granted 350 40.50 Released (1) (258 ) 35.99 Forfeited (21 ) 41.67 Restricted stock at January 31, 2021 698 $ 41.56 |
Share-based Payment Arrangement, Performance Shares, Activity [Table Text Block] | PSUs (in thousands) Weighted Average Grant Date Fair Value Performance stock units at January 31, 2019 — $ — Granted 93 39.82 Released — — Forfeited (3 ) 39.82 Performance stock units at January 31, 2020 90 $ 39.82 Granted 93 40.54 Released (1) (21 ) 39.82 Forfeited (9 ) 39.82 Performance stock units at January 31, 2021 153 $ 40.26 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended January 31, 2019 Expected life in years 5.50 Risk free interest rate 2.80 % Volatility 31 % Dividend rate 0.54 % |
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block] | SARs (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2018 3,024 $ 17.78 Granted 380 53.50 Exercised (390 ) 9.43 Expired (5 ) 9.17 Forfeited (476 ) 37.14 Outstanding at January 31, 2019 2,533 $ 20.81 Granted — — Exercised (1,184 ) 16.19 Expired — — Forfeited — — Outstanding at January 31, 2020 1,349 $ 24.86 Granted — — Exercised (205 ) 12.91 Expired — — Forfeited — — Outstanding at January 31, 2021 1,144 $ 27.01 2.9 $ 40,971 Vested and exercisable at January 31, 2021 1,002 $ 24.28 2.5 $ 38,324 |
Note 7 - Business Combination (
Note 7 - Business Combination (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Tangible assets, including cash acquired of $0.9 million $ 3,420 Goodwill 12,785 Other intangible assets 7,751 Total assets acquired 23,956 Liabilities assumed (1,576 ) Deferred tax liability (2,549 ) Net assets acquired $ 19,831 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Estimated useful life (years) Fair value Estimated annual amortization Statement of operations classification Software technology 5 $ 6,056 $ 1,211 Cost of subscription Customer relationships 5 1,695 339 Amortization of intangible assets from acquisitions $ 7,751 |
Note 8 - Goodwill and Intangi_2
Note 8 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2019 $ 28,031 $ (15,608 ) $ 12,423 Impact of foreign currency translation (35 ) — (35 ) Balance at January 31, 2020 $ 27,996 $ (15,608 ) $ 12,388 Additions 12,785 12,785 Impact of foreign currency translation 163 - 163 Balance at January 31, 2021 $ 40,944 $ (15,608 ) $ 25,336 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2021 2020 (in thousands) Amortizable intangible assets: Customer relationships $ 3,039 $ 1,379 Less accumulated amortization (681 ) (394 ) Net amortizable intangible assets $ 2,358 $ 985 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Years (in thousands) 2022 $ 605 2023 608 2024 495 2025 339 Thereafter 311 $ 2,358 |
Note 9 - Other Balance Sheet _2
Note 9 - Other Balance Sheet Accounts (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Other Balance Sheet Accounts [Table Text Block] | January 31, 2021 2020 (in thousands) Prepaid expenses and other current assets, net Deferred cost of revenue $ 8,052 $ 8,096 Prepaid expenses 5,228 6,140 Capitalized costs to obtain a contract, net 4,421 3,961 Assets held for sale - 1,634 Contract assets 2,014 1,595 VAT receivable 100 1,174 Capitalized costs to fulfill a contract, net 513 543 Income tax receivable, net of payables 1,686 963 Other 909 846 $ 22,923 $ 24,952 Other assets, net Long-term capitalized costs to obtain a contract, net $ 8,723 $ 8,371 Long-term deposits and prepaid expenses 2,185 2,462 Other intangible assets, net 2,358 985 Long-term capitalized costs to fulfill a contract, net 828 886 Other 204 303 $ 14,298 $ 13,007 Accounts payable Trade payables $ 5,733 $ 6,155 VAT payable 5,165 3,685 $ 10,898 $ 9,840 Other current liabilities Accrued commissions and bonus $ 14,514 $ 15,023 Accrued compensated absences 8,250 8,377 Other accrued payroll 5,154 6,795 Accrued professional fees 2,419 2,628 Contingent liability associated with acquisitions 2,191 - Accrued travel 304 1,264 Accrued contract labor 978 934 Other 3,621 4,879 $ 37,431 $ 39,900 Other liabilities Long-term deferred revenue $ 2,705 $ 2,811 Accrued termination benefits 3,564 2,600 Long-term contingent liability associated with acquisitions 2,560 - Long-term accrued travel 1,854 - Other 1,819 1,348 $ 12,502 $ 6,759 |
Note 10 - Debt (Tables)
Note 10 - Debt (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | January 31, 2021 2020 (in thousands) Note payable $ 12,366 $ 12,868 Less current maturities (527 ) (503 ) Less loan origination costs, net (14 ) (24 ) Long-term debt $ 11,825 $ 12,341 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Assets and Liabilities [Table Text Block] | January 31, 2021 2020 (in thousands) Assets Operating $ 20,689 $ 18,154 Finance 327 175 Total lease assets, net $ 21,016 $ 18,329 Liabilities Current Operating $ 4,784 $ 4,307 Finance 120 64 Noncurrent Operating 17,310 14,524 Finance 200 88 Total lease liabilities $ 22,414 $ 18,983 |
Lease, Cost [Table Text Block] | January 31, 2021 2020 (in thousands) Operating lease cost $ 5,881 $ 5,963 Finance lease cost 145 58 Variable lease cost 1,362 1,447 Short-term lease cost 141 229 Total lease cost $ 7,529 $ 7,697 |
Lessee, Weighted Average Lease Term and Discount Rate [Table Text Block] | January 31, 2021 2020 Weighted-average remaining lease term (in years) 5.5 5.9 Weighted-average discount rate 4.84 % 5.79 % |
Lessee, Operating Leases, Supplemental Cash Flow Disclosure [Table Text Block] | January 31, 2021 2020 (in thousands) Cash flows related to lease liabilities Operating cash flows related to operating lease liabilities $ (5,378 ) $ (6,077 ) Financing cash flows related to finance lease liabilities (119 ) (47 ) Total cash flows related to lease liabilities $ (5,497 ) $ (6,124 ) Non-cash items Leased assets obtained in exchange for new operating lease liabilities $ 6,570 $ 10,419 Leased assets obtained in exchange for new finance lease liabilities 290 222 Total non-cash items $ 6,860 $ 10,641 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Within 1 year $ 5.9 $ 5.2 2 years 5.3 4.0 3 years 4.3 3.2 4 years 3.2 2.6 5 years 2.6 2.2 Thereafter 4.5 5.5 Total lease payments $ 25.8 $ 22.7 Less: Imputed interest (3.4 ) (3.7 ) Present value of lease liabilities $ 22.4 $ 19.0 |
Note 12 - Accumulated Other C_2
Note 12 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2019 $ (7,661 ) Other comprehensive loss before reclassifications (684 ) Amounts reclassified from accumulated other comprehensive loss — Net current period other comprehensive loss (684 ) Balance as of January 31, 2020 $ (8,345 ) Other comprehensive income before reclassifications 157 Amounts reclassified from accumulated other comprehensive loss — Net current period other comprehensive income 157 Balance as of January 31, 2021 $ (8,188 ) |
Note 15 - Business Segment In_2
Note 15 - Business Segment Information (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Years Ended January 31, 2021 2020 2019 (in thousands) Revenue: North America (1) $ 155,244 $ 151,097 $ 162,307 EMEA 93,351 90,885 96,989 Asia Pacific 39,327 46,363 51,628 Latin America 19,943 22,427 22,092 $ 307,865 $ 310,772 $ 333,016 January 31, 2021 2020 (in thousands) Property and equipment, net: North America $ 21,358 $ 23,439 EMEA 2,792 3,262 Asia Pacific 1,307 1,674 Latin America 141 312 $ 25,598 $ 28,687 |
Note 16 - Quarterly Informati_2
Note 16 - Quarterly Information (Unaudited) (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Quarters Ended April 30 July 31 Oct. 31 Jan. 31 (in thousands, except per share data) Fiscal 2021 Total revenue $ 74,147 $ 74,081 $ 76,660 $ 82,977 Total costs and expenses 75,080 71,768 72,593 75,726 Gross margin 41,722 43,258 46,005 51,508 Operating (loss) income (933 ) 2,313 4,067 7,251 Net (loss) income (410 ) 60 3,213 8,202 Basic net (loss) income per share Class A $ (0.02 ) $ 0.00 $ 0.16 $ 0.41 Class B (0.02 ) 0.00 0.13 0.34 Diluted net (loss) income per share Class A $ (0.02 ) $ 0.00 $ 0.16 $ 0.39 Class B (0.02 ) 0.00 0.13 0.33 Fiscal 2020 Total revenue $ 78,035 $ 76,378 $ 77,807 $ 78,552 Total costs and expenses 81,297 80,551 76,411 78,201 Gross margin 41,101 40,346 44,090 45,326 Operating (loss) income (3,262 ) (4,173 ) 1,396 351 Net (loss) income (3,234 ) (13,250 ) 125 410 Basic net (loss) income per share Class A $ (0.17 ) $ (0.69 ) $ 0.01 $ 0.02 Class B (0.14 ) (0.57 ) 0.01 0.02 Diluted net (loss) income per share Class A $ (0.17 ) $ (0.69 ) $ 0.01 $ 0.02 Class B (0.14 ) (0.57 ) 0.01 0.02 |
Schedule II - Schedule of Val_2
Schedule II - Schedule of Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Notes Tables | |
Schedule of Valuation and Qualifying Accounts [Table Text Block] | Balance at Beginning of Period Charged to Statements of Operations and Comprehensive Income (Loss) Write-Offs, Net of Recoveries Impact of Foreign Currency Translation and Other Balance at End of Period Year ended January 31, 2019 Allowance for bad debt $ 396 $ 144 $ (31 ) $ (22 ) $ 487 Allowance for sales adjustments 1,367 1,608 (518 ) (43 ) 2,414 Total allowance for doubtful accounts $ 1,763 $ 1,752 $ (549 ) $ (65 ) $ 2,901 Year ended January 31, 2020 Allowance for bad debt $ 487 $ 92 $ (24 ) $ (12 ) $ 543 Allowance for sales adjustments 2,414 393 (376 ) (34 ) 2,397 Total allowance for doubtful accounts $ 2,901 $ 485 $ (400 ) $ (46 ) $ 2,940 Year ended January 31, 2021 Allowance for bad debt $ 543 $ 479 $ (5 ) $ 84 $ 1,101 Allowance for sales adjustments 2,397 741 (1,019 ) 120 2,239 Total allowance for doubtful accounts $ 2,940 $ 1,220 $ (1,024 ) $ 204 $ 3,340 |
Note 1 - Summary of Business _3
Note 1 - Summary of Business and Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Oct. 31, 2020USD ($) | Jan. 31, 2021USD ($) | Jan. 31, 2020USD ($) | Jan. 31, 2019USD ($) | |
Foreign Currency Transaction Gain (Loss), before Tax, Total | $ 2,000 | $ (100) | $ (200) | |
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 1,500 | 1,496 | 0 | 0 |
Depreciation, Depletion and Amortization, Total | $ 5,200 | 5,100 | 4,700 | |
Capitalized Software Amortization Period (Year) | 3 years | |||
Write-off of Fully Amortized Software Development Costs | $ 1,000 | |||
Capitalized Computer Software, Amortization | 1,300 | 900 | 600 | |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 0 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 10,200 | |||
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 0 | |
Advertising Expense | 900 | 600 | 700 | |
Research and Development Expense, Total | $ 56,084 | $ 54,726 | $ 53,993 | |
Class Common Stock to Class B Common Stock Cash or Stock Dividends Payout Ratio | 120.00% | |||
Minimum [Member] | Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Vesting Rights, Percentage | 0.00% | |||
Maximum [Member] | Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Vesting Rights, Percentage | 200.00% | |||
Computer Equipment and Software [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||
Furniture and Office Equipment [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||
Building Improvements [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |||
Building [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 39 years | |||
Leasehold Improvements [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Number of Major Customers | 1 | |||
Concentration Risk, Percentage | 10.00% |
Note 1 - Summary of Business _4
Note 1 - Summary of Business and Significant Accounting Policies - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Accounts receivable | $ 85,949 | $ 83,908 |
Doubtful accounts | (1,101) | (543) |
Sales adjustments | (2,239) | (2,397) |
Accounts receivable, net | $ 82,609 | $ 80,968 |
Note 1 - Summary of Business _5
Note 1 - Summary of Business and Significant Accounting Policies - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 |
Property and Equipment, Gross | $ 68,194 | $ 67,548 | $ 68,794 |
Less accumulated depreciation and amortization | (42,596) | (38,861) | $ (39,173) |
Property and Equipment, Net | 25,598 | 28,687 | |
Building and Building Improvements [Member] | |||
Property and Equipment, Gross | 29,562 | 29,902 | |
Computer Equipment and Software [Member] | |||
Property and Equipment, Gross | 18,858 | 18,345 | |
Furniture and Office Equipment [Member] | |||
Property and Equipment, Gross | 8,174 | 8,004 | |
Leasehold Improvements [Member] | |||
Property and Equipment, Gross | 7,685 | 7,382 | |
Land [Member] | |||
Property and Equipment, Gross | 3,850 | 3,850 | |
Automobiles [Member] | |||
Property and Equipment, Gross | $ 65 | $ 65 |
Note 1 - Summary of Business _6
Note 1 - Summary of Business and Significant Accounting Policies - Changes in Property and Equipment, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | ||
Property and Equipment, Gross, Beginning Balance | $ 67,548 | $ 68,794 | |
Property and Equipment, Gross, Additions | 1,933 | 5,671 | |
Adjustments (1) | [1] | 196 | (2,234) |
Property and Equipment, Gross, Disposals | (2,062) | (4,286) | |
Property and Equipment, Gross, Impact of Foreign Currency Translation | 579 | (397) | |
Accumulated Depreciation, Beginning Balance | (38,861) | (39,173) | |
Depreciation | (5,011) | (5,034) | |
Accumulated Depreciation, Adjustments (1) | [1] | (71) | 880 |
Accumulated Depreciation, Disposals | 1,744 | 4,207 | |
Accumulated Depreciation, Impact of Foreign Currency Translation | (397) | 259 | |
Accumulated Depreciation, Ending Balance | (42,596) | (38,861) | |
Property and Equipment, Net | $ 25,598 | $ 28,687 | |
[1] | Fiscal 2020 adjustments relate primarily to a building re-classified to assets held for sale in the second quarter of fiscal 2020. |
Note 1 - Summary of Business _7
Note 1 - Summary of Business and Significant Accounting Policies - Capitalized Software Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Capitalized software development costs | $ 3,655 | $ 3,356 |
Acquired software technology | 6,191 | 135 |
Capitalized Computer Software, Gross | 9,846 | 3,491 |
Less accumulated amortization | (1,866) | (1,569) |
Capitalized Computer Software, Net, Ending Balance | $ 7,980 | $ 1,922 |
Note 1 - Summary of Business _8
Note 1 - Summary of Business and Significant Accounting Policies - Future Amortization Expense (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
2022 | $ 2,276 | |
2023 | 1,913 | |
2024 | 1,469 | |
2025 | 1,212 | |
Thereafter | 1,110 | |
Capitalized Computer Software, Net, Ending Balance | $ 7,980 | $ 1,922 |
Note 1 - Summary of Business _9
Note 1 - Summary of Business and Significant Accounting Policies - Other (Income) Expense, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Interest income | $ (923) | $ (2,782) | $ (2,600) |
Interest expense | 591 | 630 | 643 |
Foreign exchange losses (gains) | 2,018 | (50) | (229) |
Change in fair value of interest rate swap | 93 | 368 | 51 |
Other expense, net | 98 | ||
Other income, net | (250) | (209) | |
Total other expense (income), net | $ 1,877 | $ (2,084) | $ (2,344) |
Note 1 - Summary of Business_10
Note 1 - Summary of Business and Significant Accounting Policies - Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Net income (loss) | $ 8,202 | $ 3,213 | $ 60 | $ (410) | $ 410 | $ 125 | $ (13,250) | $ (3,234) | $ 11,065 | $ (15,949) | $ 10,428 |
Less: dividends declared | (5,780) | (5,617) | (5,479) | ||||||||
Undistributed net income (loss) | 5,285 | (21,566) | 4,949 | ||||||||
Dividends declared | 5,780 | 5,617 | 5,479 | ||||||||
Allocation of undistributed net income (loss) | 5,285 | (21,566) | 4,949 | ||||||||
Common Class A [Member] | |||||||||||
Net income (loss) | 9,541 | (13,692) | 8,939 | ||||||||
Less: dividends declared | (4,982) | (4,827) | (4,696) | ||||||||
Undistributed net income (loss) | 4,559 | (18,519) | 4,243 | ||||||||
Dividends declared | 4,982 | 4,827 | 4,696 | ||||||||
Allocation of undistributed net income (loss) | $ 4,559 | $ (18,519) | $ 4,243 | ||||||||
Weighted average shares of common stock outstanding—basic (in shares) | 17,274 | 16,709 | 16,267 | ||||||||
Weighted average potential shares of common stock (in shares) | 748 | 0 | 1,585 | ||||||||
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares) | 18,022 | 16,709 | 17,852 | ||||||||
Basic net (loss) income per common share (in dollars per share) | $ 0.41 | $ 0.16 | $ 0 | $ (0.02) | $ 0.02 | $ 0.01 | $ (0.69) | $ (0.17) | $ 0.55 | $ (0.82) | $ 0.55 |
Diluted net (loss) income per common share (in dollars per share) | 0.39 | 0.16 | 0 | (0.02) | 0.02 | 0.01 | (0.69) | (0.17) | $ 0.53 | $ (0.82) | $ 0.50 |
Common Class B [Member] | |||||||||||
Net income (loss) | $ 1,524 | $ (2,257) | $ 1,489 | ||||||||
Less: dividends declared | (798) | (790) | (783) | ||||||||
Undistributed net income (loss) | 726 | (3,047) | 706 | ||||||||
Dividends declared | 798 | 790 | 783 | ||||||||
Allocation of undistributed net income (loss) | $ 726 | $ (3,047) | $ 706 | ||||||||
Weighted average shares of common stock outstanding—basic (in shares) | 3,326 | 3,289 | 3,256 | ||||||||
Weighted average potential shares of common stock (in shares) | 67 | 0 | 166 | ||||||||
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares) | 3,393 | 3,289 | 3,422 | ||||||||
Basic net (loss) income per common share (in dollars per share) | 0.34 | 0.13 | 0 | (0.02) | 0.02 | 0.01 | (0.57) | (0.14) | $ 0.46 | $ (0.69) | $ 0.46 |
Diluted net (loss) income per common share (in dollars per share) | $ 0.33 | $ 0.13 | $ 0 | $ (0.02) | $ 0.02 | $ 0.01 | $ (0.57) | $ (0.14) | $ 0.45 | $ (0.69) | $ 0.44 |
Note 1 - Summary of Business_11
Note 1 - Summary of Business and Significant Accounting Policies - Anti-dilutive Shares (Details) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Common Class A [Member] | |||
Anti-dilutive shares (in shares) | 190 | 2,473 | 325 |
Common Class B [Member] | |||
Anti-dilutive shares (in shares) | 0 | 221 | 0 |
Note 2 - Revenue 1 (Details Tex
Note 2 - Revenue 1 (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Contract with Customer, Liability, Revenue Recognized During Period | $ 123,200 | ||
Revenue, Remaining Performance Obligation, Amount | 309,900 | ||
Capitalized Contract Cost, Amortization | $ 4,923 | $ 4,455 | $ 4,176 |
Direct Costs of Obtaining Contract [Member] | |||
Capitalized Contract Cost, Amortization Period (Year) | 5 years | ||
Capitalized Contract Cost, Net, Total | $ 13,100 | 12,300 | |
Direct Costs of Obtaining Contract [Member] | Selling and Marketing Expense [Member] | |||
Capitalized Contract Cost, Amortization | $ 4,300 | 3,900 | 3,600 |
Costs to Fulfill Contract [Member] | |||
Capitalized Contract Cost, Amortization Period (Year) | 5 years | ||
Capitalized Contract Cost, Net, Total | $ 1,300 | 1,400 | |
Costs to Fulfill Contract [Member] | Cost of Sales [Member] | |||
Capitalized Contract Cost, Amortization | $ 600 | $ 600 | $ 500 |
Sales Channel, Through Intermediary [Member] | Sales Agents and Distributors [Member] | |||
Indirect Sales Channel, Percentage of Total Subscription, License, and Maintenance Sales | 15.00% |
Note 2 - Revenue 2 (Details Tex
Note 2 - Revenue 2 (Details Textual) $ in Millions | Jan. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 309.9 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 185.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month) | 12 months |
Note 2 - Revenue - Disaggregati
Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Revenues | $ 82,977 | $ 76,660 | $ 74,081 | $ 74,147 | $ 78,552 | $ 77,807 | $ 76,378 | $ 78,035 | $ 307,865 | $ 310,772 | $ 333,016 |
Automotive [Member] | |||||||||||
Revenues | 95,009 | 110,900 | 128,249 | ||||||||
Consumer Products and Food and Beverage [Member] | |||||||||||
Revenues | 51,682 | 46,915 | 53,637 | ||||||||
High Technology and Industrial Products [Member] | |||||||||||
Revenues | 111,056 | 106,807 | 106,658 | ||||||||
Life Sciences and Other [Member] | |||||||||||
Revenues | 50,118 | 46,150 | 44,472 | ||||||||
North America [Member] | |||||||||||
Revenues | 155,244 | 151,097 | 162,307 | ||||||||
EMEA [Member] | |||||||||||
Revenues | 93,351 | 90,885 | 96,989 | ||||||||
Asia Pacific [Member] | |||||||||||
Revenues | 39,327 | 46,363 | 51,628 | ||||||||
Latin America [Member] | |||||||||||
Revenues | $ 19,943 | $ 22,427 | $ 22,092 |
Note 2 - Revenue - Contract Bal
Note 2 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Contract assets, short-term (in Prepaid expenses and other current assets, net) | $ 2,014 | $ 1,595 |
Contract assets, long-term (in Other assets, net) | 103 | 214 |
Total contract assets | 2,117 | 1,809 |
Deferred revenue, short-term | 125,724 | 118,413 |
Deferred revenue, long-term (in Other liabilities) | 2,705 | 2,811 |
Total deferred revenue | 128,429 | 121,224 |
Maintenance [Member] | ||
Deferred revenue, short-term | 66,833 | 69,650 |
Subscription and Circulation [Member] | ||
Deferred revenue, short-term | 55,873 | 45,702 |
Professional Services [Member] | ||
Deferred revenue, short-term | 2,649 | 2,705 |
License and Other [Member] | ||
Deferred revenue, short-term | $ 369 | $ 356 |
Note 3 - Fair Value Measureme_3
Note 3 - Fair Value Measurements (Details Textual) - USD ($) | 12 Months Ended | |||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 142,501,000 | $ 136,717,000 | $ 139,413,000 | $ 147,023,000 |
Interest Rate Swap [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net, Total | (93,000) | (368,000) | $ (51,000) | |
Reported Value Measurement [Member] | ||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 52,600,000 | $ 14,500,000 |
Note 3 - Fair Value Measureme_4
Note 3 - Fair Value Measurements - Financial Assets and Liabilities (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Cash and cash equivalents | $ 80,611 | $ 107,319 |
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Cash and cash equivalents | 9,262 | 14,917 |
Fair Value, Inputs, Level 2 [Member] | ||
Liability related to the interest rate swap | (325) | $ (232) |
Fair Value, Inputs, Level 3 [Member] | ||
Contingent liability associated with acquisitions | $ (4,751) |
Note 3 - Fair Value Measureme_5
Note 3 - Fair Value Measurements - Fair Values of the Derivative Instrument (Details) - Fair Value, Inputs, Level 2 [Member] - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Liability related to the interest rate swap | $ (325) | $ (232) |
Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member] | ||
Liability related to the interest rate swap | $ (325) | $ (232) |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) | 12 Months Ended |
Jan. 31, 2021USD ($) | |
Undistributed Earnings of Foreign Subsidiaries | $ 90,000,000 |
Operating Loss Carryforwards, Total | 13,800,000 |
Tax Credit Carryforward, Amount | 24,312,000 |
Unrecognized Tax Benefits, Period Increase (Decrease), Total | 100,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 22,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 100,000 |
Foreign Tax Authority [Member] | Ministry of Finance, India [Member] | |
Income Tax Examination, Year under Examination | 2010 2013 2018 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | |
Income Tax Examination, Year under Examination | 2018 2019 2020 |
Research Tax Credit Carryforward [Member] | Expiring October 2020 [Member] | |
Tax Credit Carryforward, Amount | $ 14,000 |
Note 4 - Income Taxes - Summary
Note 4 - Income Taxes - Summary of Consolidated Net (Loss) Income Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Domestic net income before income taxes | $ 7,725 | $ 2,963 | $ 6,562 |
Foreign net income (loss) before income taxes | 3,096 | (6,567) | 5,355 |
Income (loss) before income taxes | $ 10,821 | $ (3,604) | $ 11,917 |
Note 4 - Income Taxes - Income
Note 4 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
U.S. federal | $ 997 | $ 471 | $ (829) |
State | 37 | 130 | (13) |
Foreign | 2,376 | 2,149 | 3,784 |
Subtotal | 3,410 | 2,750 | 2,942 |
U.S. federal | 3 | 25 | 79 |
State | 6 | (107) | (30) |
Foreign | (3,663) | 9,677 | (1,502) |
Subtotal | (3,654) | 9,595 | (1,453) |
Total income tax (benefit) expense | $ (244) | $ 12,345 | $ 1,489 |
Note 4 - Income Taxes - Reconci
Note 4 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Computed expected tax expense (benefit) | $ 2,272 | $ (757) | $ 2,503 |
State income taxes, net of federal income tax expense | 272 | (581) | 96 |
Incremental tax expense from foreign operations | 1,708 | 1,256 | 715 |
Equity compensation | (958) | (4,198) | (2,916) |
Foreign withholding taxes | 1,619 | 1,103 | 1,089 |
Net change in valuation allowance | (3,438) | 16,179 | 3,224 |
Net change in uncertain tax positions | 125 | 3 | (71) |
Non-deductible expenses | (41) | 218 | 1,149 |
Benefit of tax credits | (2,569) | (1,719) | (3,483) |
Subpart F income | 611 | 27 | 101 |
U.S. Tax Reform (the Tax Act) | 0 | 0 | (1,312) |
Rate change impact | 123 | 867 | 124 |
Other | 32 | (53) | 270 |
Total income tax (benefit) expense | $ (244) | $ 12,345 | $ 1,489 |
Note 4 - Income Taxes - Deferre
Note 4 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Allowance for doubtful accounts and sales adjustments | $ 700 | $ 600 |
Accrued vacation | 1,305 | 1,499 |
Tax credits | 24,312 | 22,077 |
Deferred revenue | 2,670 | 3,136 |
Lease liabilities | 5,046 | 4,142 |
Net operating loss carryforwards | 13,794 | 15,475 |
Accrued expenses - other | 2,543 | 2,038 |
Other comprehensive income | 3,624 | 1,603 |
Section 263(a) interest capitalization | 182 | 190 |
Intellectual property | 4,583 | 6,250 |
Equity compensation | 4,219 | 3,579 |
Carryforward of Irish amortization | 5,728 | 3,614 |
Other | 718 | 1,767 |
Total deferred tax assets | 69,424 | 65,970 |
Less valuation allowance | (48,571) | (50,972) |
Less netting of unrecognized tax benefits against deferred tax assets | (968) | (973) |
Deferred tax assets, net of valuation allowance | 19,885 | 14,025 |
Depreciation and amortization | (612) | (851) |
Acquisition accounting basis differences | (2,514) | 0 |
Costs to obtain and fulfill contracts | (3,081) | (3,054) |
ASC 842 lease right of use assets | (4,756) | (3,931) |
Other liabilities | (396) | (355) |
Total deferred tax liabilities | (11,359) | (8,191) |
Total net deferred tax assets | $ 8,526 | $ 5,834 |
Note 4 - Income Taxes - Valuati
Note 4 - Income Taxes - Valuation Allowance (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Valuation Allowance | $ 48,571 | $ 50,972 |
Federal and State Tax Authority [Member] | ||
Valuation Allowance | 30,300 | 30,300 |
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | ||
Valuation Allowance | 12,000 | 11,600 |
Foreign Tax Authority [Member] | Secretariat of the Federal Revenue Bureau of Brazil [Member] | ||
Valuation Allowance | 6,100 | 5,700 |
Foreign Tax Authority [Member] | Federal Ministry of Finance, Germany [Member] | ||
Valuation Allowance | 0 | 2,600 |
Foreign Tax Authority [Member] | Inland Revenue, Hong Kong [Member] | ||
Valuation Allowance | 0 | 600 |
Foreign Tax Authority [Member] | Income Tax Authority, South Africa [Member] | ||
Valuation Allowance | $ 200 | $ 200 |
Note 4 - Income Taxes - Net Ope
Note 4 - Income Taxes - Net Operating Losses and Tax Credits (Details) $ in Thousands | Jan. 31, 2021USD ($) |
Credit Carryforwards | $ 24,312 |
Foreign Tax Credit [Member] | |
Credit Carryforwards | 6,338 |
Research Tax Credit Carryforward [Member] | Domestic Tax Authority [Member] | |
Credit Carryforwards | 8,336 |
Research Tax Credit Carryforward [Member] | State and Local Jurisdiction [Member] | |
Credit Carryforwards | 9,380 |
AMT credit and New hire retention [Member] | |
Credit Carryforwards | $ 258 |
Note 4 - Income Taxes - Unrecog
Note 4 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Unrecognized tax benefits at beginning of the year | $ 1,171 | $ 1,168 |
Decreases as a result of tax positions taken in a prior period | 0 | 0 |
Increases as a result of tax positions taken in the prior period | 130 | 143 |
Reduction as a result of a lapse of the statute of limitations | (5) | (37) |
Decreases as a result of settlements with taxing authorities | 0 | (103) |
Unrecognized tax benefit at end of year | $ 1,296 | $ 1,171 |
Note 4 - Income Taxes - Open Ta
Note 4 - Income Taxes - Open Tax Years (Details) | 12 Months Ended |
Jan. 31, 2021 | |
Domestic Tax Authority [Member] | |
Open tax years | 2018 2019 2020 2021 |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | |
Open tax years | 2017 2018 2019 2020 2021 |
State and Local Jurisdiction [Member] | Michigan Department of Treasury [Member] | |
Open tax years | 2017 2018 2019 2020 2021 |
State and Local Jurisdiction [Member] | New Jersey Division of Taxation [Member] | |
Open tax years | 2017 2018 2019 2020 2021 |
Foreign Tax Authority [Member] | Australian Taxation Office [Member] | |
Open tax years | 2017 2018 2019 2020 2021 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | |
Open tax years | 2018 2019 2020 2021 |
Foreign Tax Authority [Member] | Ministry of Finance, India [Member] | |
Open tax years | 2010 2013 2019 |
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | |
Open tax years | 2017 2018 2019 2020 2021 |
Foreign Tax Authority [Member] | HM Revenue & Customs [Member] | |
Open tax years | 2020 2021 |
Foreign Tax Authority [Member] | State Administration of Taxation [Member] | |
Open tax years | 2016 2017 2018 2019 2020 2021 |
Foreign Tax Authority [Member] | Servicio de Administración Tributaria [Member] | |
Open tax years | 2016 2017 2018 2019 2020 2021 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity (Details Textual) | 12 Months Ended |
Jan. 31, 2021 | |
Class A Common Stock to Class B Common Stock, Cash or Stock Dividends Payout Ratio | 120.00% |
Note 5 - Stockholders' Equity -
Note 5 - Stockholders' Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 14, 2020 | Sep. 09, 2020 | Jun. 11, 2020 | Apr. 07, 2020 | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 |
Record Date | Dec. 29, 2020 | Sep. 23, 2020 | Jun. 25, 2020 | Apr. 22, 2020 | |||
Payable | Jan. 7, 2021 | Sep. 30, 2020 | Jul. 7, 2020 | Apr. 29, 2020 | |||
Amount | $ 1,450 | $ 1,451 | $ 1,448 | $ 1,431 | $ 5,780 | $ 5,617 | $ 5,479 |
Common Class A [Member] | |||||||
Dividend (in dollars per share) | $ 0.072 | $ 0.072 | $ 0.072 | $ 0.072 | |||
Common Class B [Member] | |||||||
Dividend (in dollars per share) | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) | 12 Months Ended | |||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | Jun. 14, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-employee Board Members, Maximum Grants Per Year, Value | $ 250,000 | |||
Share-based Payment Arrangement, Expense | $ 14,192,000 | $ 11,354,000 | $ 10,122,000 | |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 80,000 | 82,000 | 81,000 | |
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 3,400,000 | $ 3,500,000 | $ 4,300,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 22,400,000 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 6 months | |||
Restricted Stock Units (RSUs) [Member] | Vesting Each Year [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | 3 years | ||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 8,000 | |||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 300,000 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 2,400,000 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 10 months 24 days | |||
Share-based Payment Arrangement, Expense | $ 2,200,000 | |||
Performance Shares [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Vesting Rights, Percentage | 0.00% | |||
Performance Shares [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Award Vesting Rights, Percentage | 200.00% | |||
Performance Shares [Member] | Vesting Each Year [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | 33.33% | ||
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 57,000 | 56,000 | 104,000 | |
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 2,500,000 | $ 2,700,000 | $ 4,400,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,300,000 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 6,100,000 | $ 26,500,000 | $ 12,400,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 0 | $ 0 | $ 16.99 | |
Stock Appreciation Rights (SARs) [Member] | Vesting Each Year [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||
The 2016 Program [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 4,000,000 | |||
The 2016 Program [Member] | Common Class A [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 2,418,000 | |||
The 2006 Program [Member] | Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 8 years |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Allocated stock-based compensation expense | $ 14,192 | $ 11,354 | $ 10,122 |
Cost of Subscription [Member] | |||
Allocated stock-based compensation expense | 544 | 315 | 252 |
Cost of Maintenance and Other Revenue [Member] | |||
Allocated stock-based compensation expense | 479 | 540 | 497 |
Cost of Professional Services [Member] | |||
Allocated stock-based compensation expense | 1,652 | 1,456 | 1,219 |
Selling and Marketing Expense [Member] | |||
Allocated stock-based compensation expense | 2,913 | 2,057 | 2,111 |
Research and Development Expense [Member] | |||
Allocated stock-based compensation expense | 2,241 | 1,863 | 1,620 |
General and Administrative Expense [Member] | |||
Allocated stock-based compensation expense | $ 6,363 | $ 5,123 | $ 4,423 |
Note 6 - Stock-based Compensa_5
Note 6 - Stock-based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands | 12 Months Ended | |||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | ||
Restricted stock (in shares) | 627 | 663 | 653 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ 39.86 | $ 36.64 | $ 25.10 | |
Granted (in shares) | 350 | 281 | 300 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 40.50 | $ 40.43 | $ 51.70 | |
Released (in shares) | [1] | (258) | (267) | (263) |
Released, weighted average grant date fair value (in dollars per share) | [1] | $ 35.99 | $ 32.71 | $ 25.80 |
Forfeited (in shares) | (21) | (50) | (27) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 41.67 | $ 38.51 | $ 30.63 | |
Restricted stock (in shares) | 698 | 627 | 663 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ 41.56 | $ 39.86 | $ 36.64 | |
[1] | The number of RSUs released includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal years ended January 31, 2021, 2020 and 2019, the Company withheld 80,000 shares, 82,000 shares and 81,000 shares, respectively, for payment of these taxes. The value of the withheld shares for the fiscal years ended January 31, 2021, 2020 and 2019 were $3.4 million, $3.5 million and $4.3 million, respectively. |
Note 6 - Stock-based Compensa_6
Note 6 - Stock-based Compensation - PSUs Activity (Details) - Performance Shares [Member] - $ / shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | ||
Restricted stock (in shares) | 90 | 0 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ 39.82 | $ 0 | |
Granted (in shares) | 93 | 93 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 40.54 | $ 39.82 | |
Released (in shares) | (21) | [1] | 0 |
Released, weighted average grant date fair value (in dollars per share) | $ 39.82 | [1] | $ 0 |
Forfeited (in shares) | (9) | (3) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 39.82 | $ 39.82 | |
Restricted stock (in shares) | 153 | 90 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ 40.26 | $ 39.82 | |
[1] | The number of PSUs released includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal year ended January 31, 2021, the Company withheld 8,000 shares for payment of these taxes. The value of the withheld shares for the fiscal year ended January 31, 2021 was $0.3 million. |
Note 6 - Stock-based Compensa_7
Note 6 - Stock-based Compensation - Weighted Average Assumption to Value SARs (Details) - Stock Appreciation Rights (SARs) [Member] | 12 Months Ended |
Jan. 31, 2019 | |
Expected life in years (Year) | 5 years 6 months |
Risk free interest rate | 2.80% |
Volatility | 31.00% |
Dividend rate | 0.54% |
Note 6 - Stock-based Compensa_8
Note 6 - Stock-based Compensation - Options/SARs Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Options/SARs [Member] | |||
Outstanding (in shares) | 1,349 | 2,533 | 3,024 |
Outstanding, weighted average exercise price (in dollars per share) | $ 24.86 | $ 20.81 | $ 17.78 |
Granted (in shares) | 0 | 0 | 380 |
Granted, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | $ 53.50 |
Exercised (in shares) | (205) | (1,184) | (390) |
Exercised, weighted average exercise price (in dollars per share) | $ 12.91 | $ 16.19 | $ 9.43 |
Expired (in shares) | 0 | 0 | (5) |
Expired, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | $ 9.17 |
Forfeited (in shares) | 0 | (476) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 0 | $ 37.14 | |
Outstanding (in shares) | 1,144 | 1,349 | 2,533 |
Outstanding, weighted average exercise price (in dollars per share) | $ 27.01 | $ 24.86 | $ 20.81 |
Outstanding, weighted average remaining contractual term (Year) | 2 years 10 months 24 days | ||
Outstanding, aggregate intrinsic value | $ 40,971 | ||
Vested and exercisable (in shares) | 1,002 | ||
Vested and exercisable, weighted average exercise price (in dollars per share) | $ 24.28 | ||
Vested and exercisable, weighted average remaining contractual term (Year) | 2 years 6 months | ||
Vested and exercisable, aggregate intrinsic value | $ 38,324 | ||
Stock Appreciation Rights (SARs) [Member] | |||
Forfeited (in shares) | 0 | ||
Forfeited, weighted average exercise price (in dollars per share) | $ 0 |
Note 7 - Business Combination_2
Note 7 - Business Combination (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Jan. 31, 2021 |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | $ 0 | |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 10,200 | |
Allocation Network GmbH [Member] | ||
Business Combination, Consideration Transferred, Total | $ 19,000 | |
Payments to Acquire Businesses, Gross | 14,200 | |
Business Combination, Consideration Transferred, Liabilities Incurred | 4,800 | |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 0 | |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 10,200 |
Note 7 - Business Combination -
Note 7 - Business Combination - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Dec. 31, 2020 | Jan. 31, 2020 | Jan. 31, 2019 |
Goodwill | $ 25,336 | $ 12,388 | $ 12,423 | |
Allocation Network GmbH [Member] | ||||
Tangible assets, including cash acquired of $0.9 million | $ 3,420 | |||
Goodwill | 12,785 | |||
Other intangible assets | 7,751 | |||
Total assets acquired | 23,956 | |||
Liabilities assumed | (1,576) | |||
Deferred tax liability | (2,549) | |||
Net assets acquired | $ 19,831 |
Note 7 - Business Combination_3
Note 7 - Business Combination - Intangible Assets Acquired (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 |
Estimated annual amortization | $ 289 | $ 268 | $ 111 | |
Allocation Network GmbH [Member] | ||||
Fair value | $ 7,751 | |||
Allocation Network GmbH [Member] | Software Technology [Member] | ||||
Estimated useful life (Year) | 5 years | |||
Fair value | $ 6,056 | |||
Estimated annual amortization | $ 1,211 | |||
Allocation Network GmbH [Member] | Customer Relationships [Member] | ||||
Estimated useful life (Year) | 5 years | |||
Fair value | $ 1,695 | |||
Estimated annual amortization | $ 339 |
Note 8 - Goodwill and Intangi_3
Note 8 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Amortization of Intangible Assets, Total | $ 289 | $ 268 | $ 111 |
Note 8 - Goodwill and Intangi_4
Note 8 - Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Balance, gross | $ 27,996 | $ 28,031 |
Accumulated impairment | (15,608) | (15,608) |
Balance, net | 12,388 | 12,423 |
Impact of foreign currency translation, gross | 163 | (35) |
Impact of foreign currency translation, accumulated impairment | 0 | 0 |
Additions, gross | 12,785 | |
Additions | ||
Balance, gross | 40,944 | 27,996 |
Accumulated impairment | (15,608) | (15,608) |
Balance, net | $ 25,336 | $ 12,388 |
Note 8 - Goodwill and Intangi_5
Note 8 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Intanigble assets, gross | $ 3,039 | $ 1,379 |
Less accumulated amortization | (681) | (394) |
Net amortizable intangible assets | $ 2,358 | $ 985 |
Note 8 - Goodwill and Intangi_6
Note 8 - Goodwill and Intangible Assets - Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
2022 | $ 605 | |
2023 | 608 | |
2024 | 495 | |
2025 | 339 | |
Thereafter | 311 | |
Net amortizable intangible assets | $ 2,358 | $ 985 |
Note 9 - Other Balance Sheet _3
Note 9 - Other Balance Sheet Accounts - Summary of Other Balance Sheet Accounts (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Deferred cost of revenue | $ 8,052 | $ 8,096 |
Prepaid expenses | 5,228 | 6,140 |
Capitalized costs to obtain a contract, net | 4,421 | 3,961 |
Assets held for sale | 0 | 1,634 |
Contract assets, short-term (in Prepaid expenses and other current assets, net) | 2,014 | 1,595 |
VAT receivable | 100 | 1,174 |
Capitalized costs to fulfill a contract, net | 513 | 543 |
Income tax receivable, net of payables | 1,686 | 963 |
Other | 909 | 846 |
Prepaid Expense and Other Assets, Current | 22,923 | 24,952 |
Other assets, net | ||
Long-term capitalized costs to obtain a contract, net | 8,723 | 8,371 |
Long-term deposits and prepaid expenses | 2,185 | 2,462 |
Other intangible assets, net | 2,358 | 985 |
Long-term capitalized costs to fulfill a contract, net | 828 | 886 |
Other | 204 | 303 |
Other Assets, Noncurrent, Total | 14,298 | 13,007 |
Trade payables | 5,733 | 6,155 |
VAT payable | 5,165 | 3,685 |
Accounts Payable and Accrued Liabilities, Current, Total | 10,898 | 9,840 |
Other current liabilities | ||
Accrued commissions and bonus | 14,514 | 15,023 |
Accrued compensated absences | 8,250 | 8,377 |
Other accrued payroll | 5,154 | 6,795 |
Accrued professional fees | 2,419 | 2,628 |
Contingent liability associated with acquisitions | 2,191 | 0 |
Accrued travel | 304 | 1,264 |
Accrued contract labor | 978 | 934 |
Other | 3,621 | 4,879 |
Other Liabilities, Current, Total | 37,431 | 39,900 |
Other liabilities | ||
Deferred revenue, long-term (in Other liabilities) | 2,705 | 2,811 |
Accrued termination benefits | 3,564 | 2,600 |
Long-term contingent liability associated with acquisitions | 2,560 | 0 |
Long-term accrued travel | 1,854 | 0 |
Other | 1,819 | 1,348 |
Other Liabilities, Noncurrent, Total | $ 12,502 | $ 6,759 |
Note 10 - Debt (Details Textual
Note 10 - Debt (Details Textual) - 2012 Mortgage [Member] - Rabobank N.A [Member] - Quad Ortega Hill LLC [Member] - USD ($) | May 30, 2012 | Jan. 31, 2021 |
Debt Instrument, Face Amount | $ 16,100,000 | |
Debt Instrument, Periodic Payment, Total | 88,100 | |
Final Principal Payment | 11,700,000 | |
Loans Payable to Bank, Total | $ 12,400,000 | |
Swap [Member] | ||
Derivative Liability, Notional Amount | $ 16,100,000 | |
Derivative, Fixed Interest Rate | 4.31% | |
London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | 0.13% |
Note 10 - Debt - Summary of Deb
Note 10 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Note payable | $ 12,366 | $ 12,868 |
Less current maturities | (527) | (503) |
Less loan origination costs, net | (14) | (24) |
Long-term debt | $ 11,825 | $ 12,341 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) $ in Millions | 12 Months Ended |
Jan. 31, 2021USD ($) | |
Operating Lease, Lease Income, Total | $ 0.3 |
Minimum [Member] | |
Lessee, Operating Lease, Renewal Term (Year) | 1 year |
Lessor, Operating Lease, Renewal Term (Month) | 1 month |
Maximum [Member] | |
Lessee, Operating Lease, Renewal Term (Year) | 10 years |
Lessor, Operating Lease, Renewal Term (Month) | 6 months |
Office Space, Equipment, and Automobiles [Member] | Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 2 months |
Office Space, Equipment, and Automobiles [Member] | Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 10 years |
Assets Leased to Others [Member] | Minimum [Member] | |
Lessor, Operating Lease, Term of Contract (Month) | 1 month |
Assets Leased to Others [Member] | Maximum [Member] | |
Lessor, Operating Lease, Term of Contract (Month) | 6 months |
Note 11 - Leases - Balance Shee
Note 11 - Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Operating | $ 20,689 | $ 18,154 |
Finance | 327 | 175 |
Total lease assets, net | 21,016 | 18,329 |
Total lease liabilities | 22,414 | 18,983 |
Lease Liabilities [Member] | ||
Operating | 4,784 | 4,307 |
Finance | 120 | 64 |
Long-term Lease Liabilities [Member] | ||
Operating | 17,310 | 14,524 |
Finance | $ 200 | $ 88 |
Note 11 - Leases - Lease Cost (
Note 11 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Operating lease cost | $ 5,881 | $ 5,963 |
Finance lease cost | 145 | 58 |
Variable lease cost | 1,362 | 1,447 |
Short-term lease cost | 141 | 229 |
Total lease cost | $ 7,529 | $ 7,697 |
Note 11 - Leases - Lease Term a
Note 11 - Leases - Lease Term and Discount Rate (Details) | Jan. 31, 2021 | Jan. 31, 2020 |
Weighted-average remaining lease term (in years) (Year) | 5 years 6 months | 5 years 10 months 24 days |
Weighted-average discount rate | 4.84% | 5.79% |
Note 11 - Leases - Supplemental
Note 11 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Operating cash flows related to operating lease liabilities | $ (5,378) | $ (6,077) |
Financing cash flows related to finance lease liabilities | (119) | (47) |
Total cash flows related to lease liabilities | (5,497) | (6,124) |
Leased assets obtained in exchange for new operating lease liabilities | 6,570 | 10,419 |
Leased assets obtained in exchange for new finance lease liabilities | 290 | 222 |
Total non-cash items | $ 6,860 | $ 10,641 |
Note 11 - Leases - Maturities o
Note 11 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Within 1 year | $ 5,900 | $ 5,200 |
2 years | 5,300 | 4,000 |
3 years | 4,300 | 3,200 |
4 years | 3,200 | 2,600 |
5 years | 2,600 | 2,200 |
Thereafter | 4,500 | 5,500 |
Total lease payments | 25,800 | 22,700 |
Less: Imputed interest | (3,400) | (3,700) |
Present value of lease liabilities | $ 22,414 | $ 18,983 |
Note 12 - Accumulated Other C_3
Note 12 - Accumulated Other Comprehensive Loss (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 0 | $ 0 |
Note 12 - Accumulated Other C_4
Note 12 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Balance | $ 116,065 | $ 133,247 |
Balance | 129,466 | 116,065 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Balance | (8,345) | (7,661) |
Other comprehensive loss before reclassifications | 157 | (684) |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 |
Net current period other comprehensive loss | 157 | (684) |
Balance | $ (8,188) | $ (8,345) |
Note 13 - Employee Benefit Pl_2
Note 13 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Foreign Plan [Member] | Pension Plan [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 4.1 | $ 4.7 | $ 5.3 |
Foreign Plan [Member] | Pension Plan [Member] | Minimum [Member] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 2.00% | ||
Foreign Plan [Member] | Pension Plan [Member] | Maximum [Member] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 20.00% | ||
The 401(k) Plan [Member] | UNITED STATES | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 75.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | ||
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage Increase | 25.00% | ||
Defined Contribution Benefit Plan Employer Matching Contribution Vesting Period (Year) | 4 years | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 2.2 | $ 2.1 | $ 2.2 |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Details Textual) $ in Millions | Jan. 31, 2021USD ($) |
Purchase Obligation, Total | $ 23.4 |
Note 15 - Business Segment In_3
Note 15 - Business Segment Information (Details Textual) | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Number of Geographic Locations | 4 | ||
Number of Operating Segments | 1 | ||
Geographic Concentration Risk [Member] | North America Revenue [Member] | CANADA | |||
Concentration Risk, Percentage | 2.00% | 2.00% | 2.00% |
Note 15 - Business Segment In_4
Note 15 - Business Segment Information - Revenue by Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | ||
Revenues | $ 82,977 | $ 76,660 | $ 74,081 | $ 74,147 | $ 78,552 | $ 77,807 | $ 76,378 | $ 78,035 | $ 307,865 | $ 310,772 | $ 333,016 | |
Property and equipment, net | 25,598 | 28,687 | 25,598 | 28,687 | ||||||||
North America [Member] | ||||||||||||
Revenues | 155,244 | 151,097 | 162,307 | |||||||||
EMEA [Member] | ||||||||||||
Revenues | 93,351 | 90,885 | 96,989 | |||||||||
Asia Pacific [Member] | ||||||||||||
Revenues | 39,327 | 46,363 | 51,628 | |||||||||
Latin America [Member] | ||||||||||||
Revenues | 19,943 | 22,427 | 22,092 | |||||||||
Reportable Geographical Components [Member] | North America [Member] | ||||||||||||
Revenues | [1] | 155,244 | 151,097 | 162,307 | ||||||||
Property and equipment, net | 21,358 | 23,439 | 21,358 | 23,439 | ||||||||
Reportable Geographical Components [Member] | EMEA [Member] | ||||||||||||
Revenues | 93,351 | 90,885 | 96,989 | |||||||||
Property and equipment, net | 2,792 | 3,262 | 2,792 | 3,262 | ||||||||
Reportable Geographical Components [Member] | Asia Pacific [Member] | ||||||||||||
Revenues | 39,327 | 46,363 | 51,628 | |||||||||
Property and equipment, net | 1,307 | 1,674 | 1,307 | 1,674 | ||||||||
Reportable Geographical Components [Member] | Latin America [Member] | ||||||||||||
Revenues | 19,943 | 22,427 | $ 22,092 | |||||||||
Property and equipment, net | $ 141 | $ 312 | $ 141 | $ 312 | ||||||||
[1] | Sales into Canada accounted for 2% of North America total revenue for each of the fiscal years 2021, 2020 and 2019. |
Note 16 - Quarterly Informati_3
Note 16 - Quarterly Information (Unaudited) - Schedule of Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Total revenue | $ 82,977 | $ 76,660 | $ 74,081 | $ 74,147 | $ 78,552 | $ 77,807 | $ 76,378 | $ 78,035 | $ 307,865 | $ 310,772 | $ 333,016 |
Total costs and expenses | 75,726 | 72,593 | 71,768 | 75,080 | 78,201 | 76,411 | 80,551 | 81,297 | |||
Gross margin | 51,508 | 46,005 | 43,258 | 41,722 | 45,326 | 44,090 | 40,346 | 41,101 | 182,493 | 170,863 | 177,132 |
Operating (loss) income | 7,251 | 4,067 | 2,313 | (933) | 351 | 1,396 | (4,173) | (3,262) | 12,698 | (5,688) | 9,573 |
Net income (loss) | $ 8,202 | $ 3,213 | $ 60 | $ (410) | $ 410 | $ 125 | $ (13,250) | $ (3,234) | 11,065 | (15,949) | 10,428 |
Common Class A [Member] | |||||||||||
Net income (loss) | $ 9,541 | $ (13,692) | $ 8,939 | ||||||||
Basic net (loss) income per common share (in dollars per share) | $ 0.41 | $ 0.16 | $ 0 | $ (0.02) | $ 0.02 | $ 0.01 | $ (0.69) | $ (0.17) | $ 0.55 | $ (0.82) | $ 0.55 |
Diluted net (loss) income per common share (in dollars per share) | 0.39 | 0.16 | 0 | (0.02) | 0.02 | 0.01 | (0.69) | (0.17) | $ 0.53 | $ (0.82) | $ 0.50 |
Common Class B [Member] | |||||||||||
Net income (loss) | $ 1,524 | $ (2,257) | $ 1,489 | ||||||||
Basic net (loss) income per common share (in dollars per share) | 0.34 | 0.13 | 0 | (0.02) | 0.02 | 0.01 | (0.57) | (0.14) | $ 0.46 | $ (0.69) | $ 0.46 |
Diluted net (loss) income per common share (in dollars per share) | $ 0.33 | $ 0.13 | $ 0 | $ (0.02) | $ 0.02 | $ 0.01 | $ (0.57) | $ (0.14) | $ 0.45 | $ (0.69) | $ 0.44 |
Note 17 - Subsequent Event (Det
Note 17 - Subsequent Event (Details Textual) - Foreign-Trade Zone Corporation [Member] - Subsequent Event [Member] $ in Millions | Apr. 05, 2021USD ($) |
Business Combination, Consideration Transferred, Total | $ 18 |
Payments to Acquire Businesses, Gross | $ 13 |
Business Combination, Performance-based Earnout Payments, Period (Year) | 3 years |
Notes Payable, Other Payables [Member] | |
Business Combination, Consideration Transferred, Liabilities Incurred | $ 2.4 |
Debt Instrument, Term (Year) | 4 years |
Schedule II - Schedule of Val_3
Schedule II - Schedule of Valuation and Qualifying Accounts - Schedule of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Allowance for Bad Debt [Member] | |||
Balance at beginning of period | $ 543 | $ 487 | $ 396 |
Charged to statements of income | 479 | 92 | 144 |
Write-offs, net of recoveries | (5) | (24) | (31) |
Impact of foreign currency translation | 84 | (12) | (22) |
Balance at end of period | 1,101 | 543 | 487 |
Allowance for Returns [Member] | |||
Balance at beginning of period | 2,397 | 2,414 | 1,367 |
Charged to statements of income | 741 | 393 | 1,608 |
Write-offs, net of recoveries | (1,019) | (376) | (518) |
Impact of foreign currency translation | 120 | (34) | (43) |
Balance at end of period | 2,239 | 2,397 | 2,414 |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||
Balance at beginning of period | 2,940 | 2,901 | 1,763 |
Charged to statements of income | 1,220 | 485 | 1,752 |
Write-offs, net of recoveries | (1,024) | (400) | (549) |
Impact of foreign currency translation | 204 | (46) | (65) |
Balance at end of period | $ 3,340 | $ 2,940 | $ 2,901 |