Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jul. 31, 2021 | Aug. 31, 2021 | |
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 | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 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 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 Common Stock, Shares Outstanding | 3,344,775 | |
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 | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Class A Common Stock, $0.001 par value | |
Trading Symbol | QADA | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Assets | ||
Cash and equivalents | $ 136,489 | $ 142,501 |
Accounts receivable, net of allowances of $3,657 and $3,340 at July 31, 2021 and January 31, 2021, respectively | 49,041 | 82,609 |
Prepaid expenses and other current assets, net | 24,983 | 22,923 |
Total current assets | 210,513 | 248,033 |
Property and equipment, net of accumulated depreciation and amortization of $40,857 and $42,596 at July 31, 2021 and January 31, 2021, respectively | 23,653 | 25,598 |
Lease right-of-use assets | 18,753 | 21,016 |
Capitalized software costs, net | 10,227 | 7,980 |
Goodwill | 32,198 | 25,336 |
Deferred tax assets, net | 8,763 | 8,526 |
Other assets, net | 18,522 | 14,298 |
Total assets | 322,629 | 350,787 |
Liabilities and Stockholders’ Equity | ||
Current portion of long-term debt | 12,310 | 527 |
Lease liabilities | 4,763 | 4,904 |
Accounts payable | 7,544 | 10,898 |
Deferred revenue | 110,394 | 125,724 |
Other current liabilities | 41,948 | 37,431 |
Total current liabilities | 176,959 | 179,484 |
Long-term debt | 0 | 11,825 |
Long-term lease liabilities | 15,292 | 17,510 |
Other liabilities | 13,876 | 12,502 |
Total liabilities | 206,127 | 221,321 |
Commitments and contingencies (Note 13) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; none issued or outstanding | 0 | 0 |
Additional paid-in capital | 200,461 | 205,630 |
Treasury stock, at cost 192,605 and 207,062 Class B shares at July 31, 2021 and January 31, 2021, respectively | (2,834) | (3,073) |
Accumulated deficit | (72,337) | (64,924) |
Accumulated other comprehensive loss | (8,809) | (8,188) |
Total stockholders’ equity | 116,502 | 129,466 |
Total liabilities and stockholders’ equity | 322,629 | 350,787 |
Common Class A [Member] | ||
Stockholders’ equity: | ||
Common stock | 17 | 17 |
Common Class B [Member] | ||
Stockholders’ equity: | ||
Common stock | $ 4 | $ 4 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Accounts receivable, allowance | $ 3,657 | $ 3,340 |
Accumulated depreciation and amortization | $ 40,857 | $ 42,596 |
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 |
Treasury stock, shares (in shares) | 192,605 | 207,062 |
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) | 17,662,567 | 17,375,453 |
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 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Revenue: | ||||
Revenues | $ 84,839 | $ 74,081 | $ 167,810 | $ 148,228 |
Costs of revenue: | ||||
Costs of revenues | 34,289 | 30,823 | 68,478 | 63,248 |
Gross profit | 50,550 | 43,258 | 99,332 | 84,980 |
Operating expenses: | ||||
Sales and marketing | 19,494 | 17,420 | 39,061 | 35,977 |
Research and development | 15,527 | 13,161 | 31,165 | 27,178 |
General and administrative | 20,886 | 10,299 | 33,462 | 20,316 |
Amortization of intangible assets from acquisitions | 399 | 65 | 639 | 129 |
Total operating expenses | 56,306 | 40,945 | 104,327 | 83,600 |
Operating (loss) income | (5,756) | 2,313 | (4,995) | 1,380 |
Other (income) expense: | ||||
Interest income | (69) | (213) | (143) | (649) |
Interest expense | 176 | 155 | 317 | 305 |
Other (income) expense, net | (508) | 1,871 | (270) | 639 |
Total other (income) expense, net | (401) | 1,813 | (96) | 295 |
(Loss) income before income taxes | (5,355) | 500 | (4,899) | 1,085 |
Income tax expense (benefit) | 967 | 440 | (409) | 1,435 |
Net (loss) income | (6,322) | 60 | (4,490) | (350) |
Diluted net (loss) income per share | ||||
Net loss | (6,322) | 60 | (4,490) | (350) |
Other comprehensive (loss) income, net of tax: | ||||
Foreign currency translation adjustment | (460) | 1,607 | (621) | (1,048) |
Total comprehensive (loss) income | (6,782) | 1,667 | (5,111) | (1,398) |
Common Class A [Member] | ||||
Other (income) expense: | ||||
Net (loss) income | $ (5,460) | $ 52 | $ (3,880) | $ (301) |
Basic net (loss) income per share | ||||
Basic net (loss) income per share (in dollars per share) | $ (0.31) | $ 0 | $ (0.22) | $ (0.02) |
Diluted net (loss) income per share | ||||
Diluted net (loss) income per share (in dollars per share) | $ (0.31) | $ 0 | $ (0.22) | $ (0.02) |
Net loss | $ (5,460) | $ 52 | $ (3,880) | $ (301) |
Common Class B [Member] | ||||
Other (income) expense: | ||||
Net (loss) income | $ (862) | $ 8 | $ (610) | $ (49) |
Basic net (loss) income per share | ||||
Basic net (loss) income per share (in dollars per share) | $ (0.26) | $ 0 | $ (0.18) | $ (0.01) |
Diluted net (loss) income per share | ||||
Diluted net (loss) income per share (in dollars per share) | $ (0.26) | $ 0 | $ (0.18) | $ (0.01) |
Net loss | $ (862) | $ 8 | $ (610) | $ (49) |
Subscription and Circulation [Member] | ||||
Revenue: | ||||
Revenues | 38,426 | 31,066 | 75,112 | 61,837 |
Costs of revenue: | ||||
Costs of revenues | 12,072 | 10,739 | 24,234 | 21,087 |
License [Member] | ||||
Revenue: | ||||
Revenues | 2,784 | 3,043 | 5,899 | 4,264 |
Costs of revenue: | ||||
Costs of revenues | 548 | 565 | 1,086 | 966 |
Maintenance [Member] | ||||
Revenue: | ||||
Revenues | 26,440 | 26,486 | 53,003 | 52,894 |
Costs of revenue: | ||||
Costs of revenues | 6,682 | 6,413 | 13,237 | 13,157 |
Professional Services [Member] | ||||
Revenue: | ||||
Revenues | 17,189 | 13,486 | 33,796 | 29,233 |
Costs of revenue: | ||||
Costs of revenues | $ 14,987 | $ 13,106 | $ 29,921 | $ 28,038 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 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, 2020 | 17,109 | 3,537 | (216) | ||||||
Balance at Jan. 31, 2020 | $ 17 | $ 4 | $ (3,226) | $ 197,824 | $ (70,209) | $ (8,345) | $ 116,065 | ||
Net loss | 0 | 0 | 0 | 0 | (350) | 0 | $ (301) | $ (49) | (350) |
Foreign currency translation adjustments | 0 | 0 | 0 | 0 | 0 | (1,048) | (1,048) | ||
Stock award exercises | 0 | 0 | 153 | (2,576) | 0 | 0 | (2,423) | ||
Stock compensation expense | 0 | 0 | 0 | 6,356 | 0 | 0 | 6,356 | ||
Dividends declared | $ 0 | $ 0 | $ 0 | 0 | (2,879) | 0 | (2,879) | ||
Restricted stock (in shares) | 183 | 0 | 0 | ||||||
Restricted stock | $ 0 | $ 0 | $ 0 | (3,519) | 0 | 0 | (3,519) | ||
Balance (in shares) at Jul. 31, 2020 | 17,365 | 3,537 | (207) | ||||||
Balance at Jul. 31, 2020 | $ 17 | $ 4 | $ (3,073) | 198,085 | (73,438) | (9,393) | 112,202 | ||
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 | ||
Net loss | 0 | 0 | 0 | 0 | (4,490) | $ (3,880) | $ (610) | (4,490) | |
Foreign currency translation adjustments | 0 | 0 | 0 | 0 | 0 | (621) | (621) | ||
Stock award exercises | 0 | 0 | 239 | (5,305) | 0 | (5,066) | |||
Stock compensation expense | 0 | 0 | 0 | 8,382 | 0 | 0 | 8,382 | ||
Dividends declared | $ 0 | $ 0 | $ 0 | 0 | (2,923) | 0 | (2,923) | ||
Restricted stock (in shares) | 209 | 0 | 0 | ||||||
Restricted stock | $ 0 | $ 0 | $ 0 | (8,246) | 0 | 0 | (8,246) | ||
Balance (in shares) at Jul. 31, 2021 | 17,663 | 3,537 | (193) | ||||||
Balance at Jul. 31, 2021 | $ 17 | $ 4 | $ (2,834) | $ 200,461 | $ (72,337) | $ (8,809) | $ 116,502 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (4,490) | $ (350) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 4,426 | 3,495 |
Amortization of costs capitalized to obtain and fulfill contracts | 2,676 | 2,391 |
Amortization of right-of-use assets | 2,939 | 2,910 |
Net change in valuation allowance | 78 | 2,112 |
Change in fair value of contingent consideration | 893 | 0 |
Other deferred income taxes | (2,538) | (2,004) |
Loss on disposal of property and equipment | 44 | 68 |
Provision for doubtful accounts and sales adjustments | 454 | 1,212 |
Stock compensation expense | 8,382 | 6,356 |
Change in fair value of derivative instrument | (118) | 219 |
Other, net | 0 | 12 |
Changes in assets and liabilities: | ||
Accounts receivable | 33,315 | 37,526 |
Costs capitalized to obtain and fulfill contracts | (3,052) | (2,246) |
Prepaid expenses and other assets | (1,283) | 2,616 |
Lease liabilities | (2,972) | (2,721) |
Accounts payable | (3,412) | (4,071) |
Deferred revenue | (16,736) | (23,840) |
Other liabilities | 2,759 | (7,661) |
Net cash provided by operating activities | 21,365 | 16,024 |
Cash flows from investing activities: | ||
Purchase of property and equipment | (393) | (1,325) |
Acquisition, net of cash acquired | (9,493) | 0 |
Capitalized software costs | (576) | (626) |
Net cash used in investing activities | (10,462) | (1,951) |
Cash flows from financing activities: | ||
Repayments of debt | (335) | (306) |
Tax payments related to stock awards | (13,312) | (5,942) |
Dividends paid | (2,923) | (2,879) |
Net cash used in financing activities | (16,570) | (9,127) |
Effect of exchange rates on cash and equivalents | (345) | (956) |
Net (decrease) increase in cash and equivalents | (6,012) | 3,990 |
Cash and equivalents at beginning of period | 142,501 | 136,717 |
Cash and equivalents at end of period | 136,489 | 140,707 |
Supplemental disclosure of cash flow information: | ||
Interest | 269 | 293 |
Income taxes, net of refunds | $ 1,069 | $ 2,203 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Recent Accounting Pronouncements | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements fairly present the financial information contained therein. These statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information and with the instructions to Form 10 10 X. not 10 January 31, 2021. three six July 31, 2021 not January 31, 2022. The Company’s accounting policies are set forth in detail in Note 1 10 January 31, 2021 no Agreement and Plan of Merger with Thoma Bravo On June 28, 2021, Recent Accounting Pronouncements Except as discussed below, there have been no six July 31, 2021, Recent Accounting Pronouncements Adopted In December 2019, 740 740. first 2022. not |
Note 2 - Revenue
Note 2 - Revenue | 6 Months Ended |
Jul. 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 through sales of licenses and maintenance provided to its on-premises customers. QAD offers 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 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 standalone 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 License 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. 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, 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 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: Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) North America $ 41,506 $ 38,998 $ 80,746 $ 76,000 EMEA 27,342 21,379 56,055 43,947 Asia Pacific 10,908 9,571 21,176 19,213 Latin America 5,083 4,133 9,833 9,068 Total revenue $ 84,839 $ 74,081 $ 167,810 $ 148,228 The Company’s revenue by industry is as follows: Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Automotive $ 25,485 $ 22,275 $ 49,053 $ 46,412 Consumer products and food and beverage 13,684 13,476 27,088 25,290 High technology and industrial products 31,390 26,644 61,459 53,468 Life sciences and other 14,280 11,686 30,210 23,058 Total revenue $ 84,839 $ 74,081 $ 167,810 $ 148,228 Management Judgments Due to the complexity of certain contracts, the actual revenue recognition treatment required under 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 multiple agreements are entered into at or near the same time and so closely related that the agreements are, in effect, part of a single arrangement, such agreements are deemed to be combined as a single arrangement for revenue recognition purposes. The Company exercises judgment to evaluate the relevant facts and circumstances in determining whether multiple agreements should be accounted for separately or as a single arrangement. The Company’s judgments about whether multiple agreements comprise a single arrangement can affect the allocation of consideration to the distinct performance obligations, which could have an effect on results of operations for the periods involved. 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 Condensed 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 July 31, 2021 January 31, 2021. The Company’s contract balances are as follows: July 31, 2021 January 31, 2021 (in thousands) Contract assets, short-term (in “Prepaid expenses and other current assets, net”) $ 4,659 $ 2,117 Deferred revenue, short-term $ 110,394 $ 125,724 Deferred revenue, long-term (in “Other liabilities”) 2,222 2,705 Total deferred revenue $ 112,616 $ 128,429 During the six July 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 $302.3 million as of July 31, 2021, twelve 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: July 31, 2021 January 31, 2021 (in thousands) Deferred maintenance $ 52,626 $ 66,833 Deferred subscription 54,836 55,873 Deferred professional services 2,864 2,649 Deferred license and other revenue 68 369 Deferred revenues, current 110,394 125,724 Deferred revenues, non-current (in “Other liabilities”) 2,222 2,705 Total deferred revenues $ 112,616 $ 128,429 Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under 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 July 31, 2021 January 31, 2021, three six July 31, 2021 three six July 31, 2020, Costs to fulfill a contract, which are incurred upon initiation of certain services contracts and are related to initial customer setup, are deferred and amortized over the term of economic benefit which the Company has determined to be five July 31, 2021 January 31, 2021, three six July 31, 2021, three six July 31, 2020, 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 six July 31, 2021 2020. |
Note 3 - Computation of Net (Lo
Note 3 - Computation of Net (Loss) Income Per Share | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. COMPUTATION OF NET (LOSS) INCOME PER SHARE The following table sets forth the computation of basic and diluted net income (loss) per share: Three Months Ended Six Months Ended July 31, July 31, 2021 2020 2021 2020 (in thousands, except per share data) (in thousands, except per share data) Net (loss) income $ (6,322 ) $ 60 $ (4,490 ) $ (350 ) Less: Dividends declared (1,469 ) (1,448 ) (2,923 ) (2,879 ) Undistributed net loss $ (7,791 ) $ (1,388 ) $ (7,413 ) $ (3,229 ) Net (loss) income per share Class A Common Stock Dividends declared $ 1,269 $ 1,249 $ 2,523 $ 2,481 Allocation of undistributed net loss (6,729 ) (1,197 ) (6,403 ) (2,782 ) Net (loss) income attributable to Class A common stock $ (5,460 ) $ 52 $ (3,880 ) $ (301 ) Weighted average shares of Class A common stock outstanding— basic 17,533 17,245 17,457 17,179 Weighted average potential shares of Class A common stock — 568 — — Weighted average shares of Class A common stock and potential common shares outstanding— diluted 17,533 17,813 17,457 17,179 Basic net (loss) income per Class A common share $ (0.31 ) $ 0.00 $ (0.22 ) $ (0.02 ) Diluted net (loss) income per Class A common share $ (0.31 ) $ 0.00 $ (0.22 ) $ (0.02 ) Net (loss) income per share Class B Common Stock Dividends declared $ 200 $ 199 $ 400 $ 398 Allocation of undistributed net loss (1,062 ) (191 ) (1,010 ) (447 ) Net (loss) income attributable to Class B common stock $ (862 ) $ 8 $ (610 ) $ (49 ) Weighted average shares of Class B common stock outstanding— basic 3,339 3,321 3,335 3,321 Weighted average potential shares of Class B common stock — 68 — — Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,339 3,389 3,335 3,321 Basic net (loss) income per Class B common share $ (0.26 ) $ 0.00 $ (0.18 ) $ (0.01 ) Diluted net (loss) income per Class B common share $ (0.26 ) $ 0.00 $ (0.18 ) $ (0.01 ) Potential common shares consist of the shares issuable upon the release of restricted stock units (RSUs) and performance stock units (PSUs) and the exercise of stock appreciation rights (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 Three Months Ended Six Months Ended July 31, July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Class A 1,646 340 1,737 1,822 Class B 102 — 111 150 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 4. FAIR VALUE MEASUREMENTS When determining fair value, the Company uses a three not • Level 1 • Level 2 2 2 • Level 3 not The following table sets forth the financial assets and liabilities, measured at fair value, as of July 31, 2021 January 31, 2021: 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 July 31, 2021 Money market mutual funds $ 98,630 Certificates of deposit $ 12,453 Note payable for FTZ Corp. acquisition $ 2,431 Liability related to the interest rate swap $ (207 ) Contingent liability associated with acquisitions $ (6,217 ) 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 ) Money market mutual funds and certificates of deposit are classified as part of “Cash and equivalents” in the accompanying Condensed Consolidated Balance Sheets. The amount of cash and equivalents deposited with commercial banks was $25.4 million and $52.6 million at July 31, 2021 January 31, 2021, The note payable for FTZ Corp. acquisition is classified as part of “Other liabilities” in the accompanying Condensed Consolidated Balance Sheets. The carrying value of the note approximates fair value. See Note 8 The contingent liability associated with acquisitions is classified as part of “Other current liabilities” and “Other liabilities” in the accompanying Condensed Consolidated Balance Sheets and the change in fair value is reported in “General and administrative” in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. The change in fair value of the contingent consideration recognized in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income was $0.9 million for both the three six July 31, 2021. There have been no six July 31, 2021. Derivative Instruments The Company entered into an interest rate swap in May 2012 one 8 The fair values of the derivative instrument at July 31, 2021 January 31, 2021 Liability Fair Value Balance Sheet Location July 31, 2021 January 31, 2021 Derivative instrument: Long-term interest rate swap Other liabilities $ - $ (325 ) Short-term interest rate swap Current portion of long-term debt (207 ) - Total $ (207 ) $ (325 ) The change in fair value of the interest rate swap recognized in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income was $54,000 and $118,000 for the three six July 31, 2021, three six July 31, 2020, |
Note 5 - Capitalized Software C
Note 5 - Capitalized Software Costs | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Capitalized Software Costs [Text Block] | 5. CAPITALIZED SOFTWARE COSTS Capitalized software costs and accumulated amortization at July 31, 2021 January 31, 2021 July 31, 2021 January 31, 2021 (in thousands) Capitalized software costs: Capitalized software development costs $ 3,711 $ 3,655 Acquired software technology 9,272 6,191 12,983 9,846 Less accumulated amortization (2,756 ) (1,866 ) Capitalized software costs, net $ 10,227 $ 7,980 The Company’s capitalized software development costs relate to translations and localizations of QAD Adaptive Applications. Acquired software technology costs relate to intellectual property purchased during the second 2019, fourth 2021 first 2022. It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during the first six 2022, first six 2022. Amortization of capitalized software costs was $0.8 million and $1.4 million for the three six July 31, 2021, three six July 31, 2020, The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of July 31, 2021: Fiscal Years Cost of License Cost of Subscription Total (in thousands) 2022 remaining $ 588 $ 914 $ 1,502 2023 894 1,827 2,721 2024 450 1,827 2,277 2025 65 1,827 1,892 Thereafter - 1,835 1,835 $ 1,997 $ 8,230 $ 10,227 |
Note 6 - Business Combination
Note 6 - Business Combination | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 6. BUSINESS COMBINATION Foreign-Trade Zone Corporation On April 5, 2021, zero 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 $3.5 million $ 4,194 Goodwill 7,217 Other intangible assets 8,280 Total assets acquired 19,691 Liabilities assumed (1,668 ) Deferred tax liability (1,951 ) Net assets acquired $ 16,072 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 FTZ Corp.’s software with the Company’s existing software to provide an integrated suite to the customer bases of both the Company and FTZ Corp. 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 $ 3,200 $ 640 Cost of subscription Customer relationships 5 5,000 1,000 Amortization of intangible assets from acquisitions Trade name 5 80 16 Amortization of intangible assets from acquisitions $ 8,280 The Company has evaluated and continues to evaluate pre-acquisition contingencies relating to FTZ Corp. 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 will be recorded as adjustments to the purchase price allocation. The financial results of FTZ Corp. are included in the Condensed Consolidated Financial Statements from the date of acquisition. Pro forma information has not not Allocation Network GmbH 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 customers 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 Condensed Consolidated Financial Statements from the date of acquisition. Pro forma information has not not |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amounts of goodwill for the six July 31, 2021 Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2021 $ 40,944 $ (15,608 ) $ 25,336 Additions 7,217 - 7,217 Impact of foreign currency translation (355 ) - (355 ) Balance at July 31, 2021 $ 47,806 $ (15,608 ) $ 32,198 The Company performed its annual goodwill impairment review during the fourth 2021. November 30, 2020. no 2021. No six July 31, 2021 Intangible Assets July 31, 2021 January 31, 2021 (in thousands) Amortizable intangible assets: Customer relationships $ 8,039 $ 3,039 Trade name 80 - Impact of foreign currency translation (62 ) - Less accumulated amortization (1,303 ) (681 ) Amortizable intangible assets, net $ 6,754 $ 2,358 The Company’s intangible assets are related to acquisitions completed in the second third 2019, fourth 2021 first 2022. five Amortization of intangible assets from acquisitions was $0.4 million and $0.6 million for the three six July 31, 2021, three six July 31, 2020. July 31, 2021: Fiscal Years (in thousands) 2022 remaining $ 806 2022 1,611 2024 1,499 2025 1,348 Thereafter 1,490 $ 6,754 |
Note 8 - Debt
Note 8 - Debt | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8. DEBT July 31, 2021 January 31, 2021 (in thousands) Mortgage note payable $ 12,103 $ 12,366 Less current maturities (12,103 ) (527 ) Less loan origination costs, net - (14 ) Long-term debt $ - $ 11,825 Note payable for FTZ Corp. acquisition $ 2,431 $ - Mortgage note payable Effective May 30, 2012, 2012 2012 one July 31, 2021. 2012 June 2022 2012 2012 2012 one June 1, 2022. July 31, 2021 Note Payable for FTZ Corp. acquisition The Company owes $2.4 million as part of the consideration for the FTZ Corp. acquisition. The note is payable to the sellers of FTZ Corp. over four |
Note 9 - Accumulated Other Comp
Note 9 - Accumulated Other Comprehensive Loss | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Accumulated Other Comprehensive Income (Loss) [Text Block] | 9. ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive loss, net of taxes, were as follows: Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2021 $ (8,188 ) Other comprehensive loss before reclassifications (621 ) Amounts reclassified from accumulated other comprehensive loss - Net current period other comprehensive loss (621 ) Balance as of July 31, 2021 $ (8,809 ) During the six July 31, 2021 no |
Note 10 - Income Taxes
Note 10 - Income Taxes | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 10. INCOME TAXES In determining the provision for income taxes for the first six 2022, second 2022. 2021 The Company recorded income tax expense of $1.0 million and $0.4 million in the second 2022 2021, second 2022 The Company recorded income tax (benefit) expense of $(0.4) million and $1.4 million for the first six 2022 2021, first six 2022 six July 31, 2021, six July 31, 2020, At July 31, 2021 January 31, 2021, first six 2022 2021 2013 11. twelve The Company’s policy is to recognize interest and penalties, if any, related to unrecognized tax benefits as a component of income tax expense. As of July 31, 2021 2020, 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 first six 2022, 19 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 July 31, 2021 January 31, 2021 U.S. federal and state $ 29.7 $ 30.3 Ireland 12.3 12.0 Brazil 6.1 6.1 South Africa 0.2 0.2 Total valuation allowance $ 48.3 $ 48.6 At July 31, 2021 January 31, 2021, 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 2020 ● Indonesia for fiscal years ended January 31, 2019 During the fiscal year 2022, no ● France for fiscal years ended January 31, 2018, 2019 2020 |
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 11. STOCKHOLDERS EQUITY Dividends The following table sets forth the dividends that were declared by the Company during the first six 2022: Declaration Date Record Date Payable Dividend Class A Dividend Class B Amount (in thousands) 6/21/2021 7/6/2021 7/13/2021 $ 0.072 $ 0.06 $ 1,469 4/14/2021 4/28/2021 5/5/2021 $ 0.072 $ 0.06 $ 1,454 |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 12. STOCK-BASED COMPENSATION The Company’s equity awards consist of RSUs, PSUs and SARs. For a description of the Company’s stock-based compensation plans, see Note 6 10 January 31, 2021. Stock-Based Compensation The following table sets forth reported stock-based compensation expense for the three six July 31, 2021 2020: Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Cost of subscription $ 127 $ 139 $ 239 $ 246 Cost of maintenance 120 120 247 229 Cost of professional services 392 412 777 749 Sales and marketing 669 720 1,438 1,228 Research and development 559 560 1,168 1,011 General and administrative 2,878 2,000 4,513 2,893 Total stock-based compensation expense $ 4,745 $ 3,951 $ 8,382 $ 6,356 RSU Information The estimated fair value of RSUs 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 following table summarizes the activity for RSUs for the six July 31, 2021: RSUs (in thousands) Weighted Average Grant Date Fair Value Restricted stock at January 31, 2021 698 $ 41.56 Granted 119 67.87 Released (1) (259 ) 41.92 Forfeited (21 ) 41.92 Restricted stock at July 31, 2021 537 $ 47.20 ( 1 The number of RSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. The Company withholds a portion of the released shares as consideration for the Company’s payment of applicable employee income taxes. During the three July 31, 2021, six July 31, 2021, Total unrecognized compensation cost related to RSUs was approximately $23.6 million as of July 31, 2021. PSU Information The following table summarizes the activity for PSUs for the six July 31, 2021: PSUs (in thousands) Weighted Average Grant Date Fair Value Performance stock units at January 31, 2021 153 $ 40.26 Granted 69 63.10 Released (1) (56 ) 40.54 Forfeited (32 ) 39.84 Performance stock units at July 31, 2021 134 $ 52.03 ( 1 The number of PSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. The Company withholds a portion of the released shares as consideration for the Company’s payment of applicable employee income taxes. During the three six July 31, 2021, Total unrecognized compensation cost related to PSUs was approximately $4.4 million as of July 31, 2021. SAR Information The following table summarizes the activity for outstanding SARs for the six July 31, 2021: SARs (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2021 1,144 $ 27.01 Granted - - Exercised (194 ) 11.61 Expired - - Forfeited - - Outstanding at July 31, 2021 950 $ 30.16 2.9 $ 36,286 Vested and exercisable at July 31, 2021 903 $ 28.93 2.8 $ 35,469 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 July 31, 2021, July 31, 2021. six July 31, 2021 The number of SARs exercised includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the three six July 31, 2021, At July 31, 2021, |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. COMMITMENTS AND CONTINGENCIES 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 14 - Business Segment Info
Note 14 - Business Segment Information | 6 Months Ended |
Jul. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. BUSINESS SEGMENT INFORMATION 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 products and services 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. Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Revenue: North America (1) $ 41,506 $ 38,998 $ 80,746 $ 76,000 EMEA 27,342 21,379 56,055 43,947 Asia Pacific 10,908 9,571 21,176 19,213 Latin America 5,083 4,133 9,833 9,068 $ 84,839 $ 74,081 $ 167,810 $ 148,228 ( 1 Sales into Canada accounted for 3% of North America total revenue in both the three six July 31, 2021 three six July 31, 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements fairly present the financial information contained therein. These statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information and with the instructions to Form 10 10 X. not 10 January 31, 2021. three six July 31, 2021 not January 31, 2022. The Company’s accounting policies are set forth in detail in Note 1 10 January 31, 2021 no |
Business Combinations Policy [Policy Text Block] | Agreement and Plan of Merger with Thoma Bravo On June 28, 2021, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Except as discussed below, there have been no six July 31, 2021, Recent Accounting Pronouncements Adopted In December 2019, 740 740. first 2022. not |
Note 2 - Revenue (Tables)
Note 2 - Revenue (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) North America $ 41,506 $ 38,998 $ 80,746 $ 76,000 EMEA 27,342 21,379 56,055 43,947 Asia Pacific 10,908 9,571 21,176 19,213 Latin America 5,083 4,133 9,833 9,068 Total revenue $ 84,839 $ 74,081 $ 167,810 $ 148,228 Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Automotive $ 25,485 $ 22,275 $ 49,053 $ 46,412 Consumer products and food and beverage 13,684 13,476 27,088 25,290 High technology and industrial products 31,390 26,644 61,459 53,468 Life sciences and other 14,280 11,686 30,210 23,058 Total revenue $ 84,839 $ 74,081 $ 167,810 $ 148,228 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | July 31, 2021 January 31, 2021 (in thousands) Contract assets, short-term (in “Prepaid expenses and other current assets, net”) $ 4,659 $ 2,117 Deferred revenue, short-term $ 110,394 $ 125,724 Deferred revenue, long-term (in “Other liabilities”) 2,222 2,705 Total deferred revenue $ 112,616 $ 128,429 July 31, 2021 January 31, 2021 (in thousands) Deferred maintenance $ 52,626 $ 66,833 Deferred subscription 54,836 55,873 Deferred professional services 2,864 2,649 Deferred license and other revenue 68 369 Deferred revenues, current 110,394 125,724 Deferred revenues, non-current (in “Other liabilities”) 2,222 2,705 Total deferred revenues $ 112,616 $ 128,429 |
Note 3 - Computation of Net (_2
Note 3 - Computation of Net (Loss) Income Per Share (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended July 31, July 31, 2021 2020 2021 2020 (in thousands, except per share data) (in thousands, except per share data) Net (loss) income $ (6,322 ) $ 60 $ (4,490 ) $ (350 ) Less: Dividends declared (1,469 ) (1,448 ) (2,923 ) (2,879 ) Undistributed net loss $ (7,791 ) $ (1,388 ) $ (7,413 ) $ (3,229 ) Net (loss) income per share Class A Common Stock Dividends declared $ 1,269 $ 1,249 $ 2,523 $ 2,481 Allocation of undistributed net loss (6,729 ) (1,197 ) (6,403 ) (2,782 ) Net (loss) income attributable to Class A common stock $ (5,460 ) $ 52 $ (3,880 ) $ (301 ) Weighted average shares of Class A common stock outstanding— basic 17,533 17,245 17,457 17,179 Weighted average potential shares of Class A common stock — 568 — — Weighted average shares of Class A common stock and potential common shares outstanding— diluted 17,533 17,813 17,457 17,179 Basic net (loss) income per Class A common share $ (0.31 ) $ 0.00 $ (0.22 ) $ (0.02 ) Diluted net (loss) income per Class A common share $ (0.31 ) $ 0.00 $ (0.22 ) $ (0.02 ) Net (loss) income per share Class B Common Stock Dividends declared $ 200 $ 199 $ 400 $ 398 Allocation of undistributed net loss (1,062 ) (191 ) (1,010 ) (447 ) Net (loss) income attributable to Class B common stock $ (862 ) $ 8 $ (610 ) $ (49 ) Weighted average shares of Class B common stock outstanding— basic 3,339 3,321 3,335 3,321 Weighted average potential shares of Class B common stock — 68 — — Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,339 3,389 3,335 3,321 Basic net (loss) income per Class B common share $ (0.26 ) $ 0.00 $ (0.18 ) $ (0.01 ) Diluted net (loss) income per Class B common share $ (0.26 ) $ 0.00 $ (0.18 ) $ (0.01 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended Six Months Ended July 31, July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Class A 1,646 340 1,737 1,822 Class B 102 — 111 150 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 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 July 31, 2021 Money market mutual funds $ 98,630 Certificates of deposit $ 12,453 Note payable for FTZ Corp. acquisition $ 2,431 Liability related to the interest rate swap $ (207 ) Contingent liability associated with acquisitions $ (6,217 ) 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 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Liability Fair Value Balance Sheet Location July 31, 2021 January 31, 2021 Derivative instrument: Long-term interest rate swap Other liabilities $ - $ (325 ) Short-term interest rate swap Current portion of long-term debt (207 ) - Total $ (207 ) $ (325 ) |
Note 5 - Capitalized Software_2
Note 5 - Capitalized Software Costs (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Schedule of Capitalized Software Costs [Table Text Block] | July 31, 2021 January 31, 2021 (in thousands) Capitalized software costs: Capitalized software development costs $ 3,711 $ 3,655 Acquired software technology 9,272 6,191 12,983 9,846 Less accumulated amortization (2,756 ) (1,866 ) Capitalized software costs, net $ 10,227 $ 7,980 |
Schedule of Capitalized Software Costs Amortization Expense [Table Text Block] | Fiscal Years Cost of License Cost of Subscription Total (in thousands) 2022 remaining $ 588 $ 914 $ 1,502 2023 894 1,827 2,721 2024 450 1,827 2,277 2025 65 1,827 1,892 Thereafter - 1,835 1,835 $ 1,997 $ 8,230 $ 10,227 |
Note 6 - Business Combination (
Note 6 - Business Combination (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Tangible assets, including cash acquired of $3.5 million $ 4,194 Goodwill 7,217 Other intangible assets 8,280 Total assets acquired 19,691 Liabilities assumed (1,668 ) Deferred tax liability (1,951 ) Net assets acquired $ 16,072 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 $ 3,200 $ 640 Cost of subscription Customer relationships 5 5,000 1,000 Amortization of intangible assets from acquisitions Trade name 5 80 16 Amortization of intangible assets from acquisitions $ 8,280 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 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2021 $ 40,944 $ (15,608 ) $ 25,336 Additions 7,217 - 7,217 Impact of foreign currency translation (355 ) - (355 ) Balance at July 31, 2021 $ 47,806 $ (15,608 ) $ 32,198 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | July 31, 2021 January 31, 2021 (in thousands) Amortizable intangible assets: Customer relationships $ 8,039 $ 3,039 Trade name 80 - Impact of foreign currency translation (62 ) - Less accumulated amortization (1,303 ) (681 ) Amortizable intangible assets, net $ 6,754 $ 2,358 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Years (in thousands) 2022 remaining $ 806 2022 1,611 2024 1,499 2025 1,348 Thereafter 1,490 $ 6,754 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | July 31, 2021 January 31, 2021 (in thousands) Mortgage note payable $ 12,103 $ 12,366 Less current maturities (12,103 ) (527 ) Less loan origination costs, net - (14 ) Long-term debt $ - $ 11,825 Note payable for FTZ Corp. acquisition $ 2,431 $ - |
Note 9 - Accumulated Other Co_2
Note 9 - Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jul. 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, 2021 $ (8,188 ) Other comprehensive loss before reclassifications (621 ) Amounts reclassified from accumulated other comprehensive loss - Net current period other comprehensive loss (621 ) Balance as of July 31, 2021 $ (8,809 ) |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Jurisdiction July 31, 2021 January 31, 2021 U.S. federal and state $ 29.7 $ 30.3 Ireland 12.3 12.0 Brazil 6.1 6.1 South Africa 0.2 0.2 Total valuation allowance $ 48.3 $ 48.6 |
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Dividends Declared [Table Text Block] | Declaration Date Record Date Payable Dividend Class A Dividend Class B Amount (in thousands) 6/21/2021 7/6/2021 7/13/2021 $ 0.072 $ 0.06 $ 1,469 4/14/2021 4/28/2021 5/5/2021 $ 0.072 $ 0.06 $ 1,454 |
Note 12 - Stock-based Compens_2
Note 12 - Stock-based Compensation (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Cost of subscription $ 127 $ 139 $ 239 $ 246 Cost of maintenance 120 120 247 229 Cost of professional services 392 412 777 749 Sales and marketing 669 720 1,438 1,228 Research and development 559 560 1,168 1,011 General and administrative 2,878 2,000 4,513 2,893 Total stock-based compensation expense $ 4,745 $ 3,951 $ 8,382 $ 6,356 |
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, 2021 698 $ 41.56 Granted 119 67.87 Released (1) (259 ) 41.92 Forfeited (21 ) 41.92 Restricted stock at July 31, 2021 537 $ 47.20 |
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, 2021 153 $ 40.26 Granted 69 63.10 Released (1) (56 ) 40.54 Forfeited (32 ) 39.84 Performance stock units at July 31, 2021 134 $ 52.03 |
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, 2021 1,144 $ 27.01 Granted - - Exercised (194 ) 11.61 Expired - - Forfeited - - Outstanding at July 31, 2021 950 $ 30.16 2.9 $ 36,286 Vested and exercisable at July 31, 2021 903 $ 28.93 2.8 $ 35,469 |
Note 14 - Business Segment In_2
Note 14 - Business Segment Information (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 (in thousands) (in thousands) Revenue: North America (1) $ 41,506 $ 38,998 $ 80,746 $ 76,000 EMEA 27,342 21,379 56,055 43,947 Asia Pacific 10,908 9,571 21,176 19,213 Latin America 5,083 4,133 9,833 9,068 $ 84,839 $ 74,081 $ 167,810 $ 148,228 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Recent Accounting Pronouncements (Details Textual) - Thoma Bravo (TB) [Member] $ / shares in Units, $ in Billions | Jun. 28, 2021USD ($)$ / shares |
Merger Agreement, Consideration to be Received | $ | $ 2 |
Merger Agreement, Consideration to Stockholders per Share (in dollars per share) | $ / shares | $ 87.50 |
Note 2 - Revenue 1 (Details Tex
Note 2 - Revenue 1 (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2021 | |
Contract with Customer, Liability, Revenue Recognized | $ 88,300 | ||||
Revenue, Remaining Performance Obligation, Amount | $ 302,300 | 302,300 | |||
Capitalized Contract Cost, Amortization | 2,676 | $ 2,391 | |||
Capitalized Contract Cost, Impairment Loss | $ 0 | 0 | |||
Direct Costs of Obtaining Contract [Member] | |||||
Capitalized Contract Cost, Amortization Period (Year) | 5 years | 5 years | |||
Capitalized Contract Cost, Net, Total | $ 13,500 | $ 13,500 | $ 13,100 | ||
Direct Costs of Obtaining Contract [Member] | Selling and Marketing Expense [Member] | |||||
Capitalized Contract Cost, Amortization | $ 1,200 | $ 1,100 | $ 2,400 | 2,100 | |
Costs to Fulfill Contract [Member] | |||||
Capitalized Contract Cost, Amortization Period (Year) | 5 years | 5 years | |||
Capitalized Contract Cost, Net, Total | $ 1,300 | $ 1,300 | |||
Costs to Fulfill Contract [Member] | Cost of Sales [Member] | |||||
Capitalized Contract Cost, Amortization | $ 100 | $ 200 | $ 300 | $ 300 |
Note 2 - Revenue 2 (Details Tex
Note 2 - Revenue 2 (Details Textual) $ in Millions | Jul. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 302.3 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-08-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 188.4 |
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 | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Revenues | $ 84,839 | $ 74,081 | $ 167,810 | $ 148,228 |
Automotive [Member] | ||||
Revenues | 25,485 | 22,275 | 49,053 | 46,412 |
Consumer Products and Food and Beverage [Member] | ||||
Revenues | 13,684 | 13,476 | 27,088 | 25,290 |
High Technology and Industrial Products [Member] | ||||
Revenues | 31,390 | 26,644 | 61,459 | 53,468 |
Life Sciences and Other [Member] | ||||
Revenues | 14,280 | 11,686 | 30,210 | 23,058 |
North America [Member] | ||||
Revenues | 41,506 | 38,998 | 80,746 | 76,000 |
EMEA [Member] | ||||
Revenues | 27,342 | 21,379 | 56,055 | 43,947 |
Asia Pacific [Member] | ||||
Revenues | 10,908 | 9,571 | 21,176 | 19,213 |
Latin America [Member] | ||||
Revenues | $ 5,083 | $ 4,133 | $ 9,833 | $ 9,068 |
Note 2 - Revenue - Contract Bal
Note 2 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Contract assets, short-term (in “Prepaid expenses and other current assets, net”) | $ 4,659 | $ 2,117 |
Deferred revenue, short-term | 110,394 | 125,724 |
Deferred revenue, long-term (in “Other liabilities”) | 2,222 | 2,705 |
Total deferred revenue | 112,616 | 128,429 |
Maintenance [Member] | ||
Deferred revenue, short-term | 52,626 | 66,833 |
Subscription and Circulation [Member] | ||
Deferred revenue, short-term | 54,836 | 55,873 |
Professional Services [Member] | ||
Deferred revenue, short-term | 2,864 | 2,649 |
License and Other [Member] | ||
Deferred revenue, short-term | $ 68 | $ 369 |
Note 3 - Computation of Net Inc
Note 3 - Computation of Net Income (Loss) Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Net (loss) income | $ (6,322) | $ 60 | $ (4,490) | $ (350) |
Dividends declared | (1,469) | (1,448) | (2,923) | (2,879) |
Undistributed net loss | (7,791) | (1,388) | (7,413) | (3,229) |
Dividends declared | 1,469 | 1,448 | 2,923 | 2,879 |
Allocation of undistributed net loss | (7,791) | (1,388) | (7,413) | (3,229) |
Common Class A [Member] | ||||
Net (loss) income | (5,460) | 52 | (3,880) | (301) |
Dividends declared | (1,269) | (1,249) | (2,523) | (2,481) |
Undistributed net loss | (6,729) | (1,197) | (6,403) | (2,782) |
Dividends declared | 1,269 | 1,249 | 2,523 | 2,481 |
Allocation of undistributed net loss | $ (6,729) | $ (1,197) | $ (6,403) | $ (2,782) |
Weighted average shares of common stock outstanding—basic (in shares) | 17,533 | 17,245 | 17,457 | 17,179 |
Weighted average potential shares of common stock (in shares) | 0 | 568 | 0 | 0 |
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares) | 17,533 | 17,813 | 17,457 | 17,179 |
Basic net loss per common share (in dollars per share) | $ (0.31) | $ 0 | $ (0.22) | $ (0.02) |
Diluted net loss per common share (in dollars per share) | (0.31) | 0 | (0.22) | (0.02) |
Basic net (loss) income per share (in dollars per share) | (0.31) | 0 | (0.22) | (0.02) |
Diluted net (loss) income per share (in dollars per share) | $ (0.31) | $ 0 | $ (0.22) | $ (0.02) |
Common Class B [Member] | ||||
Net (loss) income | $ (862) | $ 8 | $ (610) | $ (49) |
Dividends declared | (200) | (199) | (400) | (398) |
Undistributed net loss | (1,062) | (191) | (1,010) | (447) |
Dividends declared | 200 | 199 | 400 | 398 |
Allocation of undistributed net loss | $ (1,062) | $ (191) | $ (1,010) | $ (447) |
Weighted average shares of common stock outstanding—basic (in shares) | 3,339 | 3,321 | 3,335 | 3,321 |
Weighted average potential shares of common stock (in shares) | 0 | 68 | 0 | 0 |
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares) | 3,339 | 3,389 | 3,335 | 3,321 |
Basic net loss per common share (in dollars per share) | $ (0.26) | $ 0 | $ (0.18) | $ (0.01) |
Diluted net loss per common share (in dollars per share) | (0.26) | 0 | (0.18) | (0.01) |
Basic net (loss) income per share (in dollars per share) | (0.26) | 0 | (0.18) | (0.01) |
Diluted net (loss) income per share (in dollars per share) | $ (0.26) | $ 0 | $ (0.18) | $ (0.01) |
Note 3 - Computation of Net I_2
Note 3 - Computation of Net Income (Loss) Per Share - Anti-dilutive Shares (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Common Class A [Member] | ||||
Antidilutive securities excluded from computation of net income per share (in shares) | 1,646 | 340 | 1,737 | 1,822 |
Common Class B [Member] | ||||
Antidilutive securities excluded from computation of net income per share (in shares) | 102 | 0 | 111 | 150 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2021 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 136,489,000 | $ 136,489,000 | $ 142,501,000 | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 893,000 | $ 0 | |||
Interest Rate Swap [Member] | |||||
Derivative, Gain (Loss) on Derivative, Net, Total | 54,000 | $ 32,000 | 118,000 | $ (219,000) | |
General and Administrative Expense [Member] | |||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 900,000 | 900,000 | |||
Reported Value Measurement [Member] | |||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 25,400,000 | $ 25,400,000 | $ 52,600,000 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Financial Assets and Liabilities (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Cash and cash equivalents | $ 98,630 | $ 80,611 |
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Cash and cash equivalents | 12,453 | 9,262 |
Fair Value, Inputs, Level 2 [Member] | ||
Liability related to the interest rate swap | (207) | (325) |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Liability related to the interest rate swap | (207) | (325) |
Fair Value, Inputs, Level 2 [Member] | Promissory Note Issued for Acquisition [Member] | ||
Note payable for FTZ Corp. acquisition | 2,431 | |
Fair Value, Inputs, Level 3 [Member] | ||
Contingent liability associated with acquisitions | $ (6,217) | $ (4,751) |
Note 4 - Fair Value Measureme_5
Note 4 - Fair Value Measurements - Fair Values of the Derivative Instrument (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Liability related to the interest rate swap | $ (207) | $ (325) |
Interest Rate Swap [Member] | ||
Liability related to the interest rate swap | (207) | (325) |
Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member] | ||
Liability related to the interest rate swap | 0 | (325) |
Interest Rate Swap [Member] | Current Portion of Long-term Debt [Member] | ||
Liability related to the interest rate swap | $ (207) | $ 0 |
Note 5 - Capitalized Software_3
Note 5 - Capitalized Software Costs (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Capitalized Computer Software Write-Downs | $ 0.5 | |||
Capitalized Computer Software, Amortization | $ 0.8 | $ 0.3 | $ 1.4 | $ 0.6 |
Note 5 - Capitalized Software_4
Note 5 - Capitalized Software Costs - Capitalized Software Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Capitalized software development costs | $ 3,711 | $ 3,655 |
Acquired software technology | 9,272 | 6,191 |
Capitalized software costs, Gross | 12,983 | 9,846 |
Less accumulated amortization | (2,756) | (1,866) |
Total | $ 10,227 | $ 7,980 |
Note 5 - Capitalized Software_5
Note 5 - Capitalized Software Costs - Estimated Amortization Expense (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
2022 remaining | $ 1,502 | |
2023 | 2,721 | |
2024 | 2,277 | |
2025 | 1,892 | |
Thereafter | 1,835 | |
Total | 10,227 | $ 7,980 |
License [Member] | ||
2022 remaining | 588 | |
2023 | 894 | |
2024 | 450 | |
2025 | 65 | |
Thereafter | 0 | |
Total | 1,997 | |
Subscription and Circulation [Member] | ||
2022 remaining | 914 | |
2023 | 1,827 | |
2024 | 1,827 | |
2025 | 1,827 | |
Thereafter | 1,835 | |
Total | $ 8,230 |
Note 6 - Business Combination_2
Note 6 - Business Combination (Details Textual) - USD ($) $ in Thousands | Apr. 05, 2021 | Dec. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 9,493 | $ 0 | ||
Foreign-Trade Zone Corporation [Member] | ||||
Business Combination, Consideration Transferred, Total | $ 12,900 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 9,500 | |||
Cash Acquired from Acquisition | 3,500 | |||
Business Combination, Contingent Consideration, Liability, Total | 1,000 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 0 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 2,400 | |||
Foreign-Trade Zone Corporation [Member] | Promissory Note Issued for Acquisition [Member] | ||||
Business Combination, Contingent Consideration, Liability, Total | $ 2,400 | |||
Allocation Network GmbH [Member] | ||||
Business Combination, Consideration Transferred, Total | $ 19,500 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 14,200 | |||
Cash Acquired from Acquisition | 900 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 0 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 10,200 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 5,300 |
Note 6 - Business Combination -
Note 6 - Business Combination - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Apr. 05, 2021 | Jan. 31, 2021 | Dec. 31, 2020 |
Goodwill | $ 32,198 | $ 25,336 | ||
Foreign-Trade Zone Corporation [Member] | ||||
Tangible assets, including cash acquired of $3.5 million | $ 4,194 | |||
Goodwill | 7,217 | |||
Other intangible assets | 8,280 | |||
Total assets acquired | 19,691 | |||
Liabilities assumed | (1,668) | |||
Deferred tax liability | (1,951) | |||
Net assets acquired | $ 16,072 | |||
Allocation Network GmbH [Member] | ||||
Tangible assets, including cash acquired of $3.5 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 6 - Business Combination_3
Note 6 - Business Combination - Intangible Assets Acquired (Details) - USD ($) $ in Thousands | Apr. 05, 2021 | Dec. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 |
Estimated annual amortization | $ 399 | $ 65 | $ 639 | $ 129 | ||
Foreign-Trade Zone Corporation [Member] | ||||||
Fair value | $ 8,280 | |||||
Allocation Network GmbH [Member] | ||||||
Fair value | $ 7,751 | |||||
Software Technology [Member] | Foreign-Trade Zone Corporation [Member] | ||||||
Estimated useful life (Year) | 5 years | |||||
Fair value | $ 3,200 | |||||
Estimated annual amortization | $ 640 | |||||
Software Technology [Member] | Allocation Network GmbH [Member] | ||||||
Estimated useful life (Year) | 5 years | |||||
Fair value | $ 6,056 | |||||
Estimated annual amortization | $ 1,211 | |||||
Customer Relationships [Member] | Foreign-Trade Zone Corporation [Member] | ||||||
Estimated useful life (Year) | 5 years | |||||
Fair value | $ 5,000 | |||||
Estimated annual amortization | $ 1,000 | |||||
Customer Relationships [Member] | Allocation Network GmbH [Member] | ||||||
Estimated useful life (Year) | 5 years | |||||
Fair value | $ 1,695 | |||||
Estimated annual amortization | $ 339 | |||||
Trade Names [Member] | Foreign-Trade Zone Corporation [Member] | ||||||
Estimated useful life (Year) | 5 years | |||||
Fair value | $ 80 | |||||
Estimated annual amortization | $ 16 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Amortization of Intangible Assets, Total | $ 399 | $ 65 | $ 639 | $ 129 |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands | 6 Months Ended |
Jul. 31, 2021USD ($) | |
Balance, gross | $ 40,944 |
Accumulated impairment | (15,608) |
Balance, net | 25,336 |
Additions, gross | 7,217 |
Additions | 0 |
Impact of foreign currency translation, gross | (355) |
Impact of foreign currency translation, accumulated impairment | 0 |
Balance, gross | 47,806 |
Accumulated impairment | (15,608) |
Balance, net | $ 32,198 |
Note 7 - Goodwill and Intangi_5
Note 7 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Jan. 31, 2021 | |
Impact of foreign currency translation | $ (62) | $ 0 |
Less accumulated amortization | (1,303) | (681) |
Amortizable intangible assets, net | 6,754 | 2,358 |
Customer Relationships [Member] | ||
Amortizable intangible assets | 8,039 | 3,039 |
Trade Names [Member] | ||
Amortizable intangible assets | $ 80 | $ 0 |
Note 7 - Goodwill and Intangi_6
Note 7 - Goodwill and Intangible Assets - Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
2022 remaining | $ 806 | |
2022 | 1,611 | |
2024 | 1,499 | |
2025 | 1,348 | |
Thereafter | 1,490 | |
Net amortizable intangible assets | $ 6,754 | $ 2,358 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) | May 30, 2012 | Jul. 31, 2021 | Jan. 31, 2021 |
2012 Mortgage [Member] | Rabobank N.A [Member] | Quad Ortega Hill LLC [Member] | |||
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 | $ 12,100,000 | ||
2012 Mortgage [Member] | Rabobank N.A [Member] | Quad Ortega Hill LLC [Member] | Swap [Member] | |||
Derivative Liability, Notional Amount | $ 16,100,000 | ||
Derivative, Fixed Interest Rate | 4.31% | ||
2012 Mortgage [Member] | Rabobank N.A [Member] | Quad Ortega Hill LLC [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | 0.09% | |
Promissory Note Issued for Acquisition [Member] | |||
Long-term Debt, Total | $ 2,431,000 | $ 0 | |
Debt Instrument, Term (Year) | 4 years | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% |
Note 8 - Debt - Summary of Debt
Note 8 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Long-term debt | $ 0 | $ 11,825 |
2012 Mortgage [Member] | ||
Mortgage note payable | 12,103 | 12,366 |
Less current maturities | (12,103) | (527) |
Less loan origination costs, net | 0 | (14) |
Long-term debt | 0 | 11,825 |
Promissory Note Issued for Acquisition [Member] | ||
Long-term Debt, Total | $ 2,431 | $ 0 |
Note 9 - Accumulated Other Co_3
Note 9 - Accumulated Other Comprehensive Loss (Details Textual) $ in Thousands | 6 Months Ended |
Jul. 31, 2021USD ($) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 0 |
Note 9 - Accumulated Other Co_4
Note 9 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands | 6 Months Ended |
Jul. 31, 2021USD ($) | |
Balance | $ 129,466 |
Balance | 116,502 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |
Balance | (8,188) |
Other comprehensive loss before reclassifications | (621) |
Amounts reclassified from accumulated other comprehensive loss | 0 |
Net current period other comprehensive loss | (621) |
Balance | $ (8,809) |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2021 | |
Income Tax Expense (Benefit), Total | $ 967 | $ 440 | $ (409) | $ 1,435 | |
Effective Income Tax Rate Reconciliation, Percent, Total | (18.00%) | 88.00% | 8.00% | 132.00% | |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 2,000 | ||||
Unrecognized Tax Benefits, Ending Balance | $ 1,400 | 1,400 | $ 1,300 | ||
Unrecognized Tax Benefits, Period Increase (Decrease), Total | (1,000) | $ (1,000) | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 100 | $ 100 | 100 | $ 100 | |
Deferred Tax Assets, Valuation Allowance, Total | $ 48,300 | $ 48,300 | $ 48,600 | ||
Foreign Tax Authority [Member] | Ministry of Finance, India [Member] | |||||
Income Tax Examination, Year under Examination | 2010 2013 2018 2020 | ||||
Foreign Tax Authority [Member] | Directorate General of Taxes, Indonesia [Member] | |||||
Income Tax Examination, Year under Examination | 2019 |
Note 10 - Income Taxes - Valuat
Note 10 - Income Taxes - Valuation Allowance (Details) - USD ($) $ in Millions | Jul. 31, 2021 | Jan. 31, 2021 |
Valuation Allowance | $ 48.3 | $ 48.6 |
Federal and State Tax Authority [Member] | ||
Valuation Allowance | 29.7 | 30.3 |
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | ||
Valuation Allowance | 12.3 | 12 |
Foreign Tax Authority [Member] | Secretariat of the Federal Revenue Bureau of Brazil [Member] | ||
Valuation Allowance | 6.1 | 6.1 |
Foreign Tax Authority [Member] | Income Tax Authority, South Africa [Member] | ||
Valuation Allowance | $ 0.2 | $ 0.2 |
Note 11 - Stockholders' Equit_2
Note 11 - Stockholders' Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands | Jun. 21, 2021 | Apr. 14, 2021 | Jul. 31, 2021 | Jul. 31, 2020 |
Record Date | Jul. 6, 2021 | Apr. 28, 2021 | ||
Payable | Jul. 13, 2021 | May 5, 2021 | ||
Amount | $ 1,469 | $ 1,454 | $ 2,923 | $ 2,879 |
Common Class A [Member] | ||||
Dividend (in dollars per share) | $ 0.072 | $ 0.072 | ||
Common Class B [Member] | ||||
Dividend (in dollars per share) | $ 0.06 | $ 0.06 |
Note 12 - Stock-based Compens_3
Note 12 - Stock-based Compensation (Details Textual) $ in Millions | 3 Months Ended | 6 Months Ended |
Jul. 31, 2021USD ($)shares | Jul. 31, 2021USD ($)shares | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | shares | 80,000 | 83,000 |
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 6.2 | $ 6.4 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 23.6 | $ 23.6 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 7 months 6 days | |
Performance Shares [Member] | ||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | shares | 23,000 | 23,000 |
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 1.8 | $ 1.8 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 4.4 | $ 4.4 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 3 months 18 days | |
Stock Appreciation Rights (SARs) [Member] | ||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | shares | 69,000 | 69,000 |
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 5.1 | $ 5.1 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0.7 | $ 0.7 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 10 months 24 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 11.8 |
Note 12 - Stock-based Compens_4
Note 12 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 30, 2020 | Jul. 31, 2021 | Jul. 30, 2020 | |
Allocated stock-based compensation expense | $ 4,745 | $ 3,951 | $ 8,382 | $ 6,356 |
Cost of Subscription [Member] | ||||
Allocated stock-based compensation expense | 127 | 139 | 239 | 246 |
Cost of Maintenance and Other Revenue [Member] | ||||
Allocated stock-based compensation expense | 120 | 120 | 247 | 229 |
Cost of Professional Services [Member] | ||||
Allocated stock-based compensation expense | 392 | 412 | 777 | 749 |
Selling and Marketing Expense [Member] | ||||
Allocated stock-based compensation expense | 669 | 720 | 1,438 | 1,228 |
Research and Development Expense [Member] | ||||
Allocated stock-based compensation expense | 559 | 560 | 1,168 | 1,011 |
General and Administrative Expense [Member] | ||||
Allocated stock-based compensation expense | $ 2,878 | $ 2,000 | $ 4,513 | $ 2,893 |
Note 12 - Stock-based Compens_5
Note 12 - Stock-based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands | 6 Months Ended | |
Jul. 31, 2021$ / sharesshares | ||
Restricted stock (in shares) | shares | 698 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ / shares | $ 41.56 | |
Granted (in shares) | shares | 119 | |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 67.87 | |
Released (in shares) | shares | (259) | [1] |
Released, weighted average grant date fair value (in dollars per share) | $ / shares | $ 41.92 | [1] |
Forfeited (in shares) | shares | (21) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 41.92 | |
Restricted stock (in shares) | shares | 537 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ / shares | $ 47.20 | |
[1] | The number of RSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. |
Note 12 - Stock-based Compens_6
Note 12 - Stock-based Compensation - PSUs Activity (Details) - Performance Shares [Member] shares in Thousands | 6 Months Ended | |
Jul. 31, 2021$ / sharesshares | ||
Restricted stock (in shares) | shares | 153 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ / shares | $ 40.26 | |
Granted (in shares) | shares | 69 | |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 63.10 | |
Released (in shares) | shares | (56) | [1] |
Released, weighted average grant date fair value (in dollars per share) | $ / shares | $ 40.54 | |
Forfeited (in shares) | shares | (32) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 39.84 | |
Restricted stock (in shares) | shares | 134 | |
Restricted stock, weighted average grant date fair value (in dollars per share) | $ / shares | $ 52.03 | |
[1] | The number of PSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. |
Note 12 - Stock-based Compens_7
Note 12 - Stock-based Compensation - SARs Activity (Details) - Stock Appreciation Rights (SARs) [Member] $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended |
Jul. 31, 2021USD ($)$ / sharesshares | |
Outstanding (in shares) | shares | 1,144 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 27.01 |
Exercised (in shares) | shares | (194) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 11.61 |
Outstanding (in shares) | shares | 950 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 30.16 |
Outstanding, weighted average remaining contractual term (Year) | 2 years 10 months 24 days |
Outstanding, aggregate intrinsic value | $ | $ 36,286 |
Vested and exercisable (in shares) | shares | 903 |
Vested and exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 28.93 |
Vested and exercisable, weighted average remaining contractual term (Year) | 2 years 9 months 18 days |
Vested and exercisable, aggregate intrinsic value | $ | $ 35,469 |
Note 14 - Business Segment In_3
Note 14 - Business Segment Information (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Number of Geographic Locations | 4 | |||
Number of Operating Segments | 1 | |||
Geographic Concentration Risk [Member] | North America Revenue [Member] | CANADA | ||||
Concentration Risk, Percentage | 3.00% | 2.00% | 3.00% | 2.00% |
Note 14 - Business Segment In_4
Note 14 - Business Segment Information - Revenue by Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | ||
Revenues | $ 84,839 | $ 74,081 | $ 167,810 | $ 148,228 | |
North America [Member] | |||||
Revenues | 41,506 | 38,998 | 80,746 | 76,000 | |
EMEA [Member] | |||||
Revenues | 27,342 | 21,379 | 56,055 | 43,947 | |
Asia Pacific [Member] | |||||
Revenues | 10,908 | 9,571 | 21,176 | 19,213 | |
Latin America [Member] | |||||
Revenues | 5,083 | 4,133 | 9,833 | 9,068 | |
Reportable Geographical Components [Member] | North America [Member] | |||||
Revenues | [1] | 41,506 | 38,998 | 80,746 | 76,000 |
Reportable Geographical Components [Member] | EMEA [Member] | |||||
Revenues | 27,342 | 21,379 | 56,055 | 43,947 | |
Reportable Geographical Components [Member] | Asia Pacific [Member] | |||||
Revenues | 10,908 | 9,571 | 21,176 | 19,213 | |
Reportable Geographical Components [Member] | Latin America [Member] | |||||
Revenues | $ 5,083 | $ 4,133 | $ 9,833 | $ 9,068 | |
[1] | Sales into Canada accounted for 3% of North America total revenue in both the three and six months ended July 31, 2021 and for 2% of North America total revenue in both the three and six months ended July 31, 2020. |