Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Oct. 31, 2021 | Jan. 11, 2022 | Apr. 30, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001703956 | ||
Entity Registrant Name | CONCRETE PUMPING HOLDINGS, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --10-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Oct. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-38166 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 83-1779605 | ||
Entity Address, Address Line One | 500 E. 84th Avenue, Suite A-5 | ||
Entity Address, City or Town | Thornton | ||
Entity Address, State or Province | CO | ||
Entity Address, Postal Zip Code | 80229 | ||
City Area Code | 303 | ||
Local Phone Number | 289-7497 | ||
Title of 12(b) Security | Common Stock, par value $0.0001 per share | ||
Trading Symbol | BBCP | ||
Security Exchange Name | NASDAQ | ||
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 | true | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 209,028,284 | ||
Entity Common Stock, Shares Outstanding | 56,668,481 | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 9,298 | $ 6,736 |
Trade receivables, net | 49,034 | 44,343 |
Inventory | 4,902 | 4,630 |
Income taxes receivable | 275 | 1,602 |
Prepaid expenses and other current assets | 4,110 | 2,694 |
Total current assets | 67,619 | 60,005 |
Property, plant and equipment, net | 337,771 | 304,254 |
Intangible assets, net | 158,539 | 183,839 |
Goodwill | 224,700 | 223,154 |
Other non-current assets | 2,168 | 1,753 |
Deferred financing costs | 1,868 | 753 |
Total assets | 792,665 | 773,758 |
Current liabilities: | ||
Revolving loan | 990 | 1,741 |
Term loans, current portion | 0 | 20,888 |
Current portion of capital lease obligations | 103 | 97 |
Accounts payable | 10,706 | 6,587 |
Accrued payroll and payroll expenses | 12,226 | 13,065 |
Accrued expenses and other current liabilities | 23,940 | 18,879 |
Income taxes payable | 274 | 1,055 |
Total current liabilities | 48,239 | 62,312 |
Long term debt, net of discount for deferred financing costs | 369,084 | 343,906 |
Capital lease obligations, less current portion | 278 | 380 |
Deferred income taxes | 70,566 | 68,019 |
Warrant liability | 16,923 | 7,031 |
Total liabilities | 505,090 | 481,648 |
Commitments and contingencies (see Note 13) | ||
Zero-dividend convertible perpetual preferred stock, $0.0001 par value, 2,450,980 shares issued and outstanding as of October 31, 2021 and October 31, 2020 | 25,000 | 25,000 |
Stockholders' equity | ||
Common stock, $0.0001 par value, 500,000,000 shares authorized, 56,564,642 and 56,463,992 issued and outstanding as of October 31, 2021 and October 31, 2020, respectively | 6 | 6 |
Additional paid-in capital | 374,272 | 367,681 |
Treasury stock | (461) | (131) |
Accumulated other comprehensive income (loss) | 3,671 | (606) |
Accumulated deficit | (114,913) | (99,840) |
Total stockholders' equity | 262,575 | 267,110 |
Total liabilities and stockholders' equity | $ 792,665 | $ 773,758 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Oct. 31, 2021 | Oct. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, issued (in shares) | 2,450,980 | 2,450,980 |
Preferred stock, outstanding (in shares) | 2,450,980 | 2,450,980 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, issued (in shares) | 56,564,642 | 56,463,992 |
Common stock, outstanding (in shares) | 56,564,642 | 56,463,992 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Revenue | $ 315,808 | $ 304,301 |
Cost of operations | 178,081 | 166,998 |
Gross profit | 137,727 | 137,303 |
General and administrative expenses | 99,369 | 111,087 |
Goodwill and intangibles impairment | 0 | 57,944 |
Transaction costs | 312 | 0 |
Income (loss) from operations | 38,046 | (31,728) |
Other income (expense): | ||
Interest expense, net | (25,190) | (34,408) |
Loss on extinguishment of debt | (15,510) | 0 |
Change in fair value of warrant liabilities | (9,894) | (261) |
Other income, net | 117 | 169 |
Total other expense | (50,477) | (34,500) |
Loss before income taxes | (12,431) | (66,228) |
Income tax expense (benefit) | 2,642 | (4,977) |
Net loss | (15,073) | (61,251) |
Less accretion of liquidation preference on preferred stock | (1,750) | (1,930) |
Loss available to common shareholders | $ (16,823) | $ (63,181) |
Weighted average common shares outstanding | ||
Basic (in shares) | 53,413,594 | 52,752,884 |
Diluted (in shares) | 53,413,594 | 52,752,884 |
Net loss per common share | ||
Basic (in dollars per share) | $ (0.31) | $ (1.20) |
Diluted (in dollars per share) | $ (0.31) | $ (1.20) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Net loss | $ (15,073) | $ (61,251) |
Other comprehensive income (loss): | ||
Foreign currency translation adjustment | 4,277 | (7) |
Total comprehensive loss | $ (10,796) | $ (61,258) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Oct. 31, 2019 | $ 6 | $ 356,227 | $ 0 | $ (599) | $ (38,589) | $ 317,045 |
Stock-based compensation expense | 0 | 11,454 | 0 | 0 | 0 | 11,454 |
Shares issued upon exercise of stock options, net of shares used for tax withholding | 0 | 0 | (131) | 0 | 0 | (131) |
Net loss | 0 | 0 | 0 | 0 | (61,251) | (61,251) |
Foreign currency translation adjustment | 0 | 0 | 0 | (7) | 0 | (7) |
Balance at Oct. 31, 2020 | 6 | 367,681 | (131) | (606) | (99,840) | 267,110 |
Stock-based compensation expense | 0 | 6,591 | 0 | 0 | 0 | 6,591 |
Shares issued upon exercise of stock options, net of shares used for tax withholding | 0 | 0 | (330) | 0 | 0 | (330) |
Net loss | 0 | 0 | 0 | 0 | (15,073) | (15,073) |
Foreign currency translation adjustment | 0 | 0 | 0 | 4,277 | 0 | 4,277 |
Balance at Oct. 31, 2021 | $ 6 | $ 374,272 | $ (461) | $ 3,671 | $ (114,913) | $ 262,575 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Net loss | $ (15,073) | $ (61,251) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Goodwill and intangibles impairment | 0 | 57,944 |
Depreciation | 28,795 | 28,264 |
Deferred income taxes | 2,547 | (1,029) |
Amortization of deferred financing costs | 2,335 | 4,100 |
Amortization of intangible assets | 27,111 | 33,392 |
Stock-based compensation expense | 6,591 | 11,454 |
Change in fair value of warrant liabilities | 9,894 | 261 |
Loss on extinguishment of debt | 15,510 | 0 |
Net gain on the sale of property, plant and equipment | (1,178) | (1,508) |
Payment of contingent consideration in excess of amounts established in purchase accounting | 0 | (526) |
Net changes in operating assets and liabilities (net of acquisitions): | ||
Trade receivables, net | (4,172) | 1,597 |
Inventory | (200) | 624 |
Prepaid expenses and other current assets | (1,771) | 1,651 |
Income taxes payable, net | 497 | (998) |
Accounts payable | 3,972 | (796) |
Accrued payroll, accrued expenses and other current liabilities | 977 | 5,791 |
Net cash provided by operating activities | 75,835 | 78,970 |
Cash flows from investing activities: | ||
Purchases of property, plant and equipment | (62,792) | (39,339) |
Proceeds from sale of property, plant and equipment | 6,977 | 3,486 |
Purchases of intangible assets | (750) | 0 |
Net cash used in investing activities | (56,565) | (35,853) |
Cash flows from financing activities: | ||
Proceeds on long term debt | 375,000 | 0 |
Payments on long term debt | (381,206) | (20,888) |
Proceeds on revolving loan | 280,034 | 285,861 |
Payments on revolving loan | (280,891) | (307,518) |
Payment of debt issuance costs | (8,464) | 0 |
Payments on capital lease obligations | (97) | (91) |
Purchase of treasury stock | (330) | (131) |
Payment of contingent consideration established in purchase accounting | 0 | (1,161) |
Net cash used in financing activities | (15,954) | (43,928) |
Effect of foreign currency exchange rate on cash | (754) | 74 |
Net increase (decrease) in cash and cash equivalents | 2,562 | (737) |
Cash and cash equivalents: | ||
Beginning of period | 6,736 | 7,473 |
End of period | 9,298 | 6,736 |
Supplemental cash flow information: | ||
Cash paid for interest | 17,371 | 33,100 |
Cash paid for income taxes | 994 | 3,352 |
Non-cash investing and financing activities: | ||
Equipment purchases included in accrued expenses and accounts payable | $ 7,135 | $ 4,149 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Organization Concrete Pumping Holdings, Inc. (the “Company”) is a Delaware corporation headquartered in Denver, Colorado. The Consolidated Financial Statements include the accounts of Concrete Pumping Holdings, Inc. and its wholly owned subsidiaries including Brundage-Bone Concrete Pumping, Inc. (“Brundage-Bone”), Capital Pumping (“Capital”), Camfaud Group Limited (“Camfaud”), and Eco-Pan, Inc. (“Eco-Pan”). On December 6, 2018 ( Nature of business Brundage-Bone and Capital are concrete pumping service providers in the United States ("U.S.") and Camfaud is a concrete pumping service provider in the United Kingdom (“U.K.”). Their core business is the provision of concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure and residential sectors. Most often equipment returns to a “home base” nightly and neither company contracts to purchase, mix, or deliver concrete. Brundage-Bone and Capital collectively have approximately 90 branch locations across 19 states, with its corporate headquarters in Thornton (near Denver), Colorado. Camfaud has 30 branch locations throughout the U.K., with its corporate headquarters in Epping (near London), England. Eco-Pan provides industrial cleanup and containment services, primarily to customers in the construction industry. Eco-Pan uses containment pans specifically designed to hold waste products from concrete and other industrial cleanup operations. Eco-Pan has 17 operating locations across the U.S. with its corporate headquarters in Thornton, Colorado. Seasonality The Company’s sales are historically seasonal, with lower revenue in the first fourth Impacts of COVID- 19 In March 2020, 19 19 may In addition, the COVID- 19 2020 second April 30, 2020 October 31, 2021 may 19 Despite recent progress in the administration of vaccines, both the outbreak, and recent impact from various variants, including Delta and Omicron and the containment and mitigation measures have had and are likely to continue to have a serious adverse impact on the global economy, the severity and duration of which are uncertain. To date, the COVID- 19 second third 2020. fourth 2020, 2021 19 19 may may 19 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. Basis of presentation The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The enclosed statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of the Company at October 31, 2021 October 31, 2020 Principles of consolidation The Consolidated Financial Statements include all amounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. Revision of Previously Issued Consolidated Financial Statements On April 12, 2021, may may one August 2017, 1 October 31, 2019 December 6, 2018 October 31, 2019 2 July 31, 2019, April 30, 2019, January 31, 2019. not not 1 October 31, 2020 2 July 31, 2020, April 30, 2020, January 31, 2020 no Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the liability for incurred but unreported claims under various partially self-insured polices, allowance for doubtful accounts, goodwill impairment analysis, valuation of share-based compensation and accounting for business combinations. Actual results may may Trade receivables Trade receivables are carried at the original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts. Generally, the Company does not may 30 not Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. The allowance for doubtful accounts was $0.7 million and $0.6 million as of October 31, 2021 2020 Inventory Inventory consists primarily of replacement parts for concrete pumping equipment. Inventories are stated at the lower of cost ( first first no October 31, 2021 2020 Fair Value Measurements The FASB’s standard on fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This standard establishes three may Level 1 Level 2 1 Level 3 Deferred financing costs Deferred financing costs representing third Debt issuance costs, including any original issue discounts, related to term loans are reflected as a direct deduction from the carrying amount of the long-term debt liability that is included in long term debt, net of discount for deferred financing costs in the accompanying consolidated balance sheet. Debt issuance costs related to revolving credit facilities are capitalized and reflected in deferred financing in the accompanying consolidated balance sheet. Amortization of the debt issuance costs are recorded in interest expense. Goodwill In accordance with ASC Topic 350, 350” may not two first no not second not During the second 2020, 19 one 2017 04, 350 2017 04” 8 Property, plant and equipment Property, plant and equipment are recorded at cost. Expenditures for additions and betterments are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred; however, maintenance and repairs that improve or extend the life of existing assets are capitalized. The carrying amount of assets disposed of and the related accumulated depreciation are eliminated from the accounts in the year of disposal. Gains or losses from property and equipment disposals are recognized in the year of disposal. Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives: In Years Buildings and improvements 15 to 40 Capital lease assets—buildings 40 Furniture and office equipment 2 to 7 Machinery and equipment 3 to 25 Transportation equipment 3 to 7 Capital lease assets are being amortized over the estimated useful life of the asset (see Note 13 Intangible Assets Intangible assets are recorded at cost or their estimated fair value (when acquired through a business combination) less accumulated amortization (if finite-lived). Intangible assets with finite lives, except for customer relationships, are amortized on a straight-line basis over their estimated useful lives. Customer relationships are amortized on an accelerated basis over their estimated useful lives. Intangible assets with indefinite lives are not second 2020 8 Impairment of long-lived assets ASC 360, Property, Plant and Equipment 360 No October 31, 2021 Revenue recognition The Company adopted ASC 606, Revenue Recognition (ASC 606 October 31, 2021, November 1, 2020, . October 31, 2021 606, not 605: 605 not The Company generates revenues primarily from ( 1 2 Concrete Pumping Services The vast majority of all revenue from concrete pumping services comes from the Company's daily service, where the Company sends a single operator with a conventional concrete pump truck (an articulating boom attached to a large truck) to deliver concrete (or other construction material such as aggregate) from one 1 2 no A much smaller component of the total concrete pumping services revenue comes from placing boom services. Placing booms have become an essential tool in the efficient construction of high-rise buildings. A placing boom is the articulating boom component of a conventional concrete pump truck, positioned on the uppermost floor of a building construction project. Concrete is then supplied through a pipeline from the pump that remains at ground level. Due to the long term nature of high-rise jobs, these contracts are generally longer term but typically not one 1 2 3 606. not 30 not Concrete Waste Services The Company’s concrete waste services business consists of service fees charged to customers for the delivery and usage over time of its pans or containers and the disposal of the concrete waste material. For these services, the Company has identified two 1 2 not 30 not Practical Expedients Applied The Company collects sales taxes when required from customers as part of the purchase price, which are then subsequently remitted to the appropriate authorities. The Company has elected to apply the practical expedient provided by ASC 606, At contract inception, the Company does not one 30 606 no In addition, the Company incurs limited costs in order to obtain contracts. However, as the amortization period for these assets would be one 606 not Disaggregation of Revenue Revenue disaggregated by reportable segment and geographic area where the work was performed for the fiscal years ended October 31, 2021 2020 18. Stock-based compensation The Company follows ASC 718, Compensation—Stock Compensation (ASC 718 $ .01 not Income taxes The Company complies with ASC 740, Income Taxes The Company computes deferred income tax assets and liabilities annually for differences between the financial statements and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not Camfaud files income tax returns in the U.K. Camfaud’s national statutes are generally open for one Foreign currency translation The functional currency of Camfaud is the Pound Sterling (GBP). The assets and liabilities of the Company's foreign subsidiaries are translated into U.S. Dollars using the period end exchange rates for the periods presented, and the consolidated statements of operations are translated at the average exchange rate for the periods presented. The resulting translation adjustments are recorded as a component of comprehensive income on the consolidated statements of comprehensive income and the only component of accumulated in other comprehensive income. The functional currency of our other subsidiaries is the United States Dollar. Earnings per share The Company calculates earnings per share in accordance with ASC 260, Earnings per Share two two 260, two 1 2 Basic earnings (loss) per common share is calculated by dividing net income (loss) attributable to common shareholders by the weighted average number of shares of Common Stock outstanding each period. Diluted earnings (loss) per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents which would arise from the exercise of stock options outstanding using the treasury stock method and the average market price per share during the period. Common stock equivalents are not An anti-dilutive impact is an increase in earnings per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities. Business combinations and asset acquisitions The Company applies the principles provided in ASC 805, Business Combinations If it is determined an acquisition is a business combination, tangible and intangible assets acquired and liabilities assumed are recorded at fair value and goodwill is recognized for any differences between the fair value of consideration transferred and the fair value of net assets acquired. Transaction costs for business combinations are expensed as incurred in accordance with ASC 805. If it is determined an acquisition is an asset acquisition, the purchase consideration (which will include certain transaction costs) is allocated to the acquired assets and liabilities based on their relative fair values. Concentrations As of October 31, 2021 three Cash balances held at financial institutions may, The Company’s customer base is dispersed across the U.S. and U.K. The Company performs ongoing evaluations of its customers’ financial condition and requires no no 10 |
Note 3 - New Accounting Pronoun
Note 3 - New Accounting Pronouncements | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 3. The Company has opted to take advantage of the extended transition period available to emerging growth companies pursuant to the Jumpstart Our Business Startups Act of 2012 Newly adopted accounting pronouncements ASU 2014 09, Revenue from Contracts with Customers (ASC 606 2014 09” May 2014, No. 2014 09, 2014 09 2020 05 2014 09 December 15, 2019 December 15, 2020 not November 1, 2020. no no 2. Recently issued accounting pronouncements not ASU 2016 02, 2016 02” February 2016, 2016 02, 842, 842” 840, 842 842 July 2018, 2018 11, 842: December 15, 2021, December 15, 2022. October 31, 2022. ASU 2016 13, 326 2016 13” June 2016, No. 2016 13, December 15, 2022, October 31, 2022. ASU 2020 04, 848 2020 04” March 2020, 2020 04, 2020 04 may March 12, 2020 December 31, 2022. |
Note 4 - Business Combinations
Note 4 - Business Combinations and Asset Acquisitions | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Asset Acquisition [Text Block] | Note 4. We completed three 2021 none 2020, not 2021 September 2021 In September 2021, 3 |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurement | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | Note 5. The carrying amounts of the Company's cash and cash equivalents, accounts receivable, accounts payable and current accrued liabilities approximate their fair value as recorded due to the short-term maturity of these instruments, which approximates fair value. The Company’s outstanding obligations on its ABL credit facility are deemed to be at fair value as the interest rates on these debt obligations are variable and consistent with prevailing rates. The Company believes the carrying values of its capital lease obligations represent fair value. Long-term debt instruments The Company's long-term debt instruments are recorded at their carrying values in the consolidated balance sheet, which may 2 October 31, 2021 2020 October 31, October 31, 2021 2020 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Term loans $ - $ - $ 381,205 $ 365,003 Senior notes $ 375,000 $ 390,938 $ - $ - Capital lease obligations $ 381 $ 381 $ 477 $ 477 Deferred consideration In connection with the acquisition of Camfaud in November 2016, 805, not 3 October 31, 2019, 3 2020 first Warrants At both October 31, 2021 2020, no one December 6, 2023, may third The Company accounts for the public warrants issued in connection with its IPO in accordance with ASC 815, not 1 All other non-financial assets The Company's non-financial assets, which primarily consist of property and equipment, goodwill and other intangible assets, are not may not |
Note 6 - Prepaid Expenses and O
Note 6 - Prepaid Expenses and Other Current Assets | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | Note 6. The significant components of prepaid expenses and other current assets at October 31, 2021 2020 October 31, October 31, (in thousands) 2021 2020 Prepaid insurance $ 949 $ 1,399 Prepaid licenses and deposits 360 429 Prepaid rent 331 149 Other current assets and prepaids 2,470 717 Total prepaid expenses and other current assets $ 4,110 $ 2,694 |
Note 7 - Property, Plant and Eq
Note 7 - Property, Plant and Equipment | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7. The significant components of property, plant and equipment at October 31, 2021 2020 October 31, October 31, (in thousands) 2021 2020 Land, building and improvements $ 27,062 $ 26,728 Capital leases—land and buildings 828 828 Machinery and equipment 374,034 318,029 Transportation equipment 2,935 2,338 Furniture and office equipment 2,880 1,230 Property, plant and equipment, gross 407,739 349,153 Less accumulated depreciation (69,968 ) (44,899 ) Property, plant and equipment, net $ 337,771 $ 304,254 Depreciation expense for the year ended October 31, 2021 October 31, 2020 |
Note 8 - Goodwill and Intangibl
Note 8 - Goodwill and Intangible Assets | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 8. The Company has recognized goodwill and certain intangible assets in connection with prior business combinations. During the second 2020, 19. third April 30, 2020. The valuation methodology used to value the trade-names was based on the relief-from-royalty method which is an income based measure that derives the value from total revenue growth projected and what percentage is attributable to the trade name. As a result of the analysis, the Company identified that the fair value of its Brundage-Bone Concrete Pumping trade name was approximately 11.8% below its carrying value and as such, recorded a non-cash impairment charge of $5.0 million in intangibles impairment in its consolidated statements of operations for the year ended October 31, 2020. October 31, 2021 October 31, 2021 The goodwill impairment test was performed on the Company’s U.S. Concrete Pumping, U.S. Concrete Waste Management Services, and U.K. Operations reporting units. The valuation methodologies used to value the reporting units included the discounted cash flow method (income approach) and the guideline public company method (market approach). As a result of the goodwill impairment analysis, the Company identified that the fair values of its U.S. Concrete Pumping and U.K. Operations reporting units were approximately 6.9% and 14.8% below their carrying values, respectively. As such, the Company recorded non-cash impairment charges of $38.5 million and $14.4 million to its U.S. Concrete Pumping and U.K. Operations reporting units, respectively, in its consolidated statements of operations for the year ended October 31, 2020. The factors leading to the impairment of the Company's goodwill and intangibles were primarily due to ( 1 19 2 19. 19 A qualitative impairment assessment was done on the annual assessment date and no 2021 may 19 1. The following table summarizes the composition of intangible assets at October 31, 2021 October 31, 2020 October 31, October 31, 2021 2020 Gross Foreign Currency Net Gross Foreign Currency Net Carrying Accumulated Translation Carrying Carrying Accumulated Translation Carrying (in thousands) Value Impairment Amortization Adjustment Amount Value Impairment Amortization Adjustment Amount Customer relationship $ 195,220 $ - $ (91,169 ) $ (539 ) $ 103,512 $ 193,585 $ - $ (64,676 ) $ (106 ) $ 128,803 Trade name 5,748 - (1,598 ) (71 ) 4,079 5,432 - (1,020 ) (14 ) $ 4,398 Trade name (indefinite life) 55,500 (5,000 ) - - 50,500 55,500 (5,000 ) - - $ 50,500 Assembled workforce 350 - - - 350 - - - - $ - Noncompete agreements 200 - (102 ) - 98 200 - (62 ) - $ 138 Total intangibles $ 257,018 $ (5,000 ) $ (92,869 ) $ (610 ) $ 158,539 $ 254,717 $ (5,000 ) $ (65,758 ) $ (120 ) $ 183,839 Amortization expense for the year ended October 31, 2021 October 31, 2020 five October 31 (in thousands) 2022 $ 22,010 2023 17,499 2024 14,058 2025 11,301 2026 9,247 Thereafter 33,924 Total $ 108,039 The changes in the carrying value of goodwill by reportable segment for the twelve October 31, 2021 (in thousands) U.S. Concrete Pumping U.K. Operations U.S. Concrete Waste Management Services Total Balance at October 31, 2019 $ 185,782 $ 41,173 $ 49,133 $ 276,088 Measurement-period adjustments 200 - - 200 Impairments* (38,500 ) (14,444 ) - (52,944 ) Foreign currency translation - (190 ) - (190 ) Balance at October 31, 2020 $ 147,482 $ 26,539 $ 49,133 $ 223,154 Foreign currency translation - 1,546 - 1,546 Balance at October 31, 2021 $ 147,482 $ 28,085 $ 49,133 $ 224,700 * Represents cumulative goodwill adjustment |
Note 9 - Long-Term Debt and Rev
Note 9 - Long-Term Debt and Revolving Lines of Credit | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9. On January 28, 2021, second 2026 December 6, 2018, Senior Notes Summarized terms of the Senior Notes are as follows: ● Provides for an original aggregate principal amount of $375.0 ● The Senior Notes will mature and be due and payable in full on February 1, 2026; ● The Senior Notes bear interest at a rate of 6.000% February 1 August 1 ● The Senior Notes are jointly and severally guaranteed on a senior secured basis by the Company, Concrete Pumping Intermediate Acquisition Corp. and each of the Issuer’s domestic, wholly-owned subsidiaries that is a borrower or a guarantor under the ABL Facility (collectively, the "Guarantors"). The Senior Notes and the guarantees are secured on a second not ● The Indenture includes certain covenants that limit, among other things, the Issuer’s ability and the ability of its restricted subsidiaries to: incur additional indebtedness and issue certain preferred stock; make certain investments, distributions and other restricted payments; create or incur certain liens; merge, consolidate or transfer all or substantially all assets; enter into certain transactions with affiliates; and sell or otherwise dispose of certain assets. The outstanding principal amount of Senior Notes as of October 31, 2021 ABL Facility Summarized terms of the ABL Facility are as follows: Dated December 6, 2018 As of January 28, 2021 (as amended on September 30, 2021) Borrowing availability in U.S. Dollars and GBP up to a maximum of $60.0 million; Borrowing availability in U.S. Dollars and GBP up to a maximum aggregate principal amount of $125.0 million and an accordion feature under which the Company can increase the ABL Facility by up to an additional $75.0 million; Borrowing capacity available for standby letters of credit of up to $7.5 million and for swing loan borrowings of up to $7.5 million. Any issuance of letters of credit or making of a swing loan will reduce the amount available under the ABL Facility; Same; All loans advanced will mature and be due and payable in full on December 6, 2023; All loans advanced will mature and be due and payable, and the facility will terminate, in full on January 28, 2026; Amounts borrowed may Same; Borrowings in U.S. Dollars and GBP bear interest at either ( 1 2 two Borrowings in U.S. Dollars and GBP (through September 30, 2021 1 2 September 30, 2021, The unused line fee percentage is 25 basis points if the quarterly average amount drawn is greater than 50% of the borrowing availability; 50 basis points if the quarterly average amount drawn is less than 50% Same; U.S. ABL Facility obligations will be secured by (i) a perfected first second US ABL Facility obligations will be secured by a first U.K. ABL Facility obligations will be secured by (i) a perfected first first second UK ABL Facility obligations will be secured by a first The ABL Facility also includes (i) a springing financial covenant (fixed charges coverage ratio) based on excess availability levels that the Company must comply with on a quarterly basis during required compliance periods and (ii) certain non-financial covenants. Same. The outstanding balance under the ABL Facility as of October 31, 2021 As of October 31, 2021 Term Loan Agreement Summarized terms of the Term Loan Agreement are as follows: ● Provides for an original aggregate principal amount of $357.0 million. This amount was increased in May 2019 ● The initial term loans advanced will mature and be due and payable in full seven ● Borrowings under the Term Loan Agreement, will bear interest at either ( 1 2 ● The Term Loan Agreement is secured by (i) a first not second ● The Term Loan Agreement includes certain non-financial covenants. As discussed above, all outstanding borrowings under the Term Loan Agreement were repaid on January 28, 2021. The table below is a summary of the composition of the Company’s long-term debt balances at October 31, 2021 2020 October 31, October 31, (in thousands) 2021 2020 Short term portion of term loan - 20,888 Long term portion of term loan - 360,317 Senior notes - all long term 375,000 - Total debt, gross 375,000 381,205 Less unamortized deferred financing costs offsetting long term debt (5,916 ) (16,411 ) Total debt, net of unamortized deferred financing costs $ 369,084 $ 364,794 Future maturities of the Senior Notes for the fiscal years ending October 31 (in thousands) 2022 $ - 2023 - 2024 - 2025 - 2026 375,000 Total $ 375,000 |
Note 10 - Accrued Payroll and P
Note 10 - Accrued Payroll and Payroll Expenses | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Accrued Payroll and Payroll Expenses [Text Block] | Note 10. The following table summarizes accrued payroll and expenses at October 31, 2021 2020 October 31, October 31, (in thousands) 2021 2020 Accrued vacation $ 1,967 $ 1,667 Accrued payroll 1,727 1,507 Accrued bonus 3,593 4,752 Accrued employee-related taxes 4,606 4,819 Other accrued 333 320 Total accrued payroll and payroll expenses $ 12,226 $ 13,065 |
Note 11 - Accrued Expenses and
Note 11 - Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Note 11. The following table summarizes accrued expenses and other current liabilities at October 31, 2021 2020 October 31, October 31, (in thousands) 2021 2020 Accrued insurance $ 7,473 $ 7,806 Accrued interest 5,627 146 Accrued equipment purchases 4,955 4,149 Accrued sales and use tax 690 311 Accrued property taxes 917 882 Accrued professional fees 1,134 1,213 Accrued due to related party - 1,765 Other 3,144 2,607 Total accrued expenses and other liabilities $ 23,940 $ 18,879 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 12. The sources of income before income taxes for the fiscal years ended October 31, 2021 October 31, 2020 (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 United States $ (13,162 ) $ (49,688 ) Foreign 731 (16,540 ) Total $ (12,431 ) $ (66,228 ) The components of the provision for income taxes for the fiscal years ended October 31, 2021 October 31, 2020 (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Current tax provision (benefit): Federal $ - $ (4,299 ) Foreign (375 ) (9 ) State and local 470 361 Total current tax provision (benefit) 95 (3,947 ) Deferred tax provision (benefit): Federal $ 483 $ 759 Foreign 2,134 126 State and local (70 ) (1,914 ) Total deferred tax benefit 2,547 (1,029 ) Net provision (benefit) for income taxes $ 2,642 $ (4,977 ) For the fiscal years ended October 31, 2021 October 31, 2020 (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Income tax benefit per federal statutory rate of 21 $ (2,611 ) $ (13,967 ) State income taxes, net of federal deduction 193 (150 ) Change in deferred tax rate (92 ) (1,654 ) Warrant fair value change 2,078 55 Nontaxable interest income net of foreign income inclusions - 717 Deferred tax on undistributed foreign earnings 505 (255 ) Impact of tax reform in the U.K. (see discussion below) 2,125 859 Goodwill impairment - 9,812 Impact of US tax reform from CARES Act - (1,381 ) Settlement with related party - 420 Other 444 567 Income tax provision (benefit) $ 2,642 $ (4,977 ) The tax effects of the temporary differences giving rise to the Company’s net deferred tax liabilities for fiscal years ending October 31, 2021 October 31, 2020 (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Deferred tax assets: Accrued insurance reserve $ 1,329 $ 1,637 Accrued sales and use tax 75 75 Accrued bonuses and vacation 1,276 1,521 Accrued payroll tax 675 676 Foreign tax credit carryforward 80 80 State tax credit carryforward 50 70 Interest expense carryforward 649 4,089 Stock-based compensation 3,608 3,127 Other 364 335 Net operating loss carryforward 17,771 10,308 Total deferred tax assets $ 25,877 $ 21,918 Valuation allowance (63 ) (63 ) Net deferred tax assets $ 25,814 $ 21,855 Deferred tax liabilities: Intangible assets (23,837 ) (27,504 ) Property and equipment (71,400 ) (61,761 ) Prepaid expenses (157 ) (128 ) Unremitted foreign earnings (986 ) (481 ) Total net deferred tax liabilities (96,380 ) (89,874 ) Net deferred tax liabilities $ (70,566 ) $ (68,019 ) As of October 31, 2021 (in millions) Balance as of October 31, 2021 Year that Carryforwards Begin to Expire Federal net operating loss carryforwards $ 70.3 N/A – Carried forward indefinitely State net operating loss carryforwards 35.8 2026 Foreign tax carryforwards 0.1 2026 State credit carryforwards 0.1 2023 Interest expense carryforwards 0.1 N/A – Carried forward indefinitely Total tax carryforwards $ 106.4 The Company has provided U.S. deferred taxes on cumulative earnings of all of its non-U.S. affiliates. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not The following table summarizes the changes in the Company's unrecognized tax benefits during the years ended October 31, 2021 2020 no twelve none (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Balance, beginning of year $ 1,572 $ 1,726 Increase in current year position - - Increase in prior year position - - Decrease in prior year position (120 ) (154 ) Lapse in statute of limitations - - Balance, end of year $ 1,452 $ 1,572 As of October 31, 2021 2020 On May 24, 2021 2021, April 1, 2023, 250,000. 2021 April 1, 2023. On March 17, 2020, 1968 March 31, 2020 On March 27, 2020, 2018, 2019 2020 five 163 30 50 During fiscal years 2016 2017, 2018 2019, 2016 2017 2020, 2018 2016 2017 2019 2017 21% 34%, 2016 2017. March 31, 2020, December 2018) October 2020, $4.3 $2.0 October 31, 2020 2021 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13. Operating Leases The Company leases facilities, equipment and vehicles under non-cancelable operating leases with various expiration dates through April 2029. October 31, 2021 October 31, 2020 The following is a summary of future minimum lease payments for the years ended October 31: (in thousands) Future Payments 2022 $ 3,514 2023 2,202 2024 1,396 2025 654 2026 491 Thereafter 960 Total $ 9,217 Capital Leases The Company has a limited number of capital leases related to land and buildings. The capital lease obligation recorded as of October 31, 2021 October 31, 2020 The following is a summary of future minimum lease payments together with the present value of those payments for the years ended October 31: (in thousands) Future Payments 2022 $ 115 2023 118 2024 120 2025 61 2026 - Thereafter - Total minimum lease payments 414 Less the amount representing interest (33 ) Present value of minimum lease payments $ 381 Insurance For the years ended October 31, 2021 October 31, 2020 Deductible General liability $ 350,000 Automobile $ 250,000 Workers' compensation $ 250,000 The Company has accrued $4.5 million and $5.4 million, as of October 31, 2021 October 31, 2020 not The Company offers employee health benefits via a partially self-insured medical benefit plan. Participant claims exceeding certain limits are covered by a stop-loss insurance policy. As of October 31, 2021 October 31, 2020 not third October 31, 2021 third no 2020. October 31, 2020 Litigation The Company is currently involved in certain legal proceedings and other disputes with third not not Letters of credit The ABL Facility provides for up to $7.5 million of standby letters of credit. As of October 31, 2021 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 14. The Company’s amended and restated certificate of incorporation authorizes the issuance of 500,000,000 shares of common stock, par value $0.0001, and 10,000,000 shares of preferred stock, par value $0.0001. Immediately following the Business Combination, there were: ● 28,847,707 shares of common stock issued and outstanding; ● 34,100,000 warrants outstanding, each exercisable for one ● 2,450,980 shares of zero-dividend convertible perpetual preferred stock (“Series A Preferred Stock”) outstanding, as further discussed below Grants of new restricted stock awards and exercises of stock options are issued out of outstanding and available common stock. As discussed below, on April 29, 2019, October 31, 2020, On May 14, 2019, The Company’s Series A Preferred Stock does not June 6, 2019) 1:1 December 6, 2022 October 31, 2021 1:1 Conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not not Warrant Exchange On April 1, 2019, April 17, 2017 ( On April 26, 2019, April 29, 2019, October 31, 2021 |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 15. The Company rolled forward certain vested options from CPH (see discussion below) to 2,783,479 equivalent vested options in the Successor. No incremental compensation costs were recognized on conversion as the fair value of the options issued were equivalent to the fair value of the vested options of CPH. Exercise prices for those options range from $0.87 to $6.09. During 2019, 2018 one four ( 1 Time-based only – Awards vest in equal installments over a five ( 2 $13 first $13.00 30 first 1/3 three ( 3 $16 first $16.00 30 first 1/3 three ( 4 $19 first $19.00 30 first 1/3 three On October 29, 2020 ( 1 113 o The price vesting targets of $13.00 per share, $16.00 per share or $19.00 per share were reduced to $6.00 per share, $8.00 per share or $10.00 per share, respectively o The market-based awards were exchanged on a 2-for- 1 ( 2 18 $13/$16/$19 o Each individual's total award was split into the following: (a) 46% of time vesting shares that vested on December 6, 2020, ( 1/3 December 6, 2021, 2022 2023, $6.00 $8.00 $10.00 first 1/3 three o In the aggregate, 1,381,426 stock awards were modified as follows: (a) 635,455 shares vested on December 6, 2020, (b) 207,215 shares will vest ratably 1/3 December 6, 2021, 2022 2023, (c) 538,756 shares will vest based on reduced price vesting targets of $6.00 $8.00 $10.00 As a result of the modifications, and in accordance with ASC 718, ● Unrecognized stock-based compensation expense as of October 29, 2020 ● The greater of $0 The fair values for the above awards were calculated using a Monte Carlo simulation model and the updated fair value of the stock award is expensed over the new service period for the new award. As a result of the modifications, the Company recorded $5.9 million of compensation expense on day 1 no As of October 31, 2021 ( 1 Time-based only – Awards vest in equal installments over a three five ( 2 $6 first 30 first 1/3 three ( 3 $8 first 30 first 1/3 three ( 4 $10 first 30 first 1/3 three Included in the table below is a summary of the awards outstanding at October 31, 2021 October 31, 2021 October 31, 2020 October 31, 2021 October 31, 2020 During fiscal 2021, 2021 December 6, 2023, 73% (in thousands, except shares outstanding and fair value amounts) Location Type of Award Shares Unvested at October 31, 2021 Weighted Average Fair Value Unrecognized Compensation Expense at October 31, 2021 Date Expense will be Recognized Through (Straight-Line Basis) U.S. Time Based Only 875,632 $ 6.56 $ 3,228,912 12/6/2023 U.S. $6 Market/Time- Based 150,697 $ 3.86 - 10/29/2020 U.S. $6 Market/Time- Based 191,902 $ 8.65 $ 273,110 3/29/2022 * U.S. $6 Market/Time- Based 191,902 $ 8.65 $ 630,290 3/29/2023 * U.S. $6 Market/Time- Based 191,913 $ 8.65 $ 833,930 3/29/2024 * U.S. $8 Market/Time- Based 150,697 $ 3.46 - 10/29/2020 U.S. $8 Market/Time- Based 191,903 $ 7.45 $ 423,243 8/23/2022 ** U.S. $8 Market/Time- Based 191,903 $ 7.45 $ 641,359 8/23/2023 ** U.S. $8 Market/Time- Based 191,912 $ 7.45 $ 780,270 8/23/2024 ** U.S. $10 Market/Time- Based 150,706 $ 3.15 - 10/29/2020 U.S. $10 Market/Time- Based 191,471 $ 6.46 $ 444,144 7/9/2023 U.S. $10 Market/Time- Based 191,467 $ 6.46 $ 599,208 7/9/2024 U.S. $10 Market/Time- Based 191,482 $ 6.46 $ 704,994 7/9/2025 U.S. $13 Market/Time- Based 433 $ 4.47 $ 317 5/4/2022 U.S. $13 Market/Time- Based 433 $ 4.47 $ 714 5/4/2023 U.S. $13 Market/Time- Based 434 $ 4.47 $ 957 5/4/2024 U.S. $16 Market/Time- Based 433 $ 3.85 $ 403 8/27/2022 U.S. $16 Market/Time- Based 433 $ 3.85 $ 691 8/27/2023 U.S. $16 Market/Time- Based 434 $ 3.85 $ 874 8/27/2024 U.S. $19 Market/Time- Based 433 $ 3.34 $ 420 11/19/2022 U.S. $19 Market/Time- Based 433 $ 3.34 $ 642 11/19/2023 U.S. $19 Market/Time- Based 434 $ 3.34 $ 787 11/19/2024 U.S. $10 Market/Time- Based 4,635 $ 7.28 $ 29,202 1/31/2023 U.S. $10 Market/Time- Based 4,635 $ 7.28 $ 31,061 1/31/2024 U.S. $10 Market/Time- Based 4,634 $ 7.28 $ 31,831 1/31/2025 U.K. Time Based Only 132,259 $ 6.52 $ 443,536 12/6/2023 U.K. $6 Market/Time- Based 28,885 $ 3.85 - 10/29/2020 U.K. $6 Market/Time- Based 27,892 $ 8.36 $ 39,250 3/29/2022 * U.K. $6 Market/Time- Based 27,892 $ 8.36 $ 89,849 3/29/2023 * U.K. $6 Market/Time- Based 27,901 $ 8.36 $ 118,514 3/29/2024 * U.K. $8 Market/Time- Based 28,885 $ 3.45 - 10/29/2020 U.K. $8 Market/Time- Based 27,892 $ 7.20 $ 60,581 8/23/2022 ** U.K. $8 Market/Time- Based 27,892 $ 7.20 $ 91,259 8/23/2023 ** U.K. $8 Market/Time- Based 27,901 $ 7.20 $ 110,756 8/23/2024 ** U.K. $10 Market/Time- Based 28,886 $ 3.14 - 10/29/2020 U.K. $10 Market/Time- Based 27,902 $ 6.24 $ 63,479 7/9/2023 U.K. $10 Market/Time- Based 27,892 $ 6.24 $ 85,174 7/9/2024 U.K. $10 Market/Time- Based 27,901 $ 6.24 $ 100,005 7/9/2025 Total 3,541,371 $ 9,859,764 Note: The $13/$16/$19 not October 29, 2020 * The $6.00 March 29, 2021, ** The $8.00 August 23, 2021, Stock Options The following tables summarize stock option activity for the year ended October 31, 2021 Options Weighted average grant date fair value Weighted average exercise price Outstanding stock options, October 31, 2019 2,069,398 $ 5.81 $ 1.33 Granted 7,250 $ 4.58 $ 0.01 Forfeited (25,888 ) $ 4.47 $ 0.01 Exercised (27,660 ) $ 6.67 $ 0.01 Expired (500 ) $ 6.67 $ 0.01 Modified (231,284 ) $ 5.04 $ 0.01 Outstanding stock options, October 31, 2020 1,791,316 $ 6.80 $ 1.54 Granted 30,000 $ 2.48 $ 0.01 Forfeited (3,807 ) $ 7.46 $ 0.01 Exercised (133,316 ) $ 5.24 $ 0.01 Outstanding stock options, October 31, 2021 1,684,193 $ 6.85 $ 1.63 The total intrinsic value of stock options exercised for the years ended October 31, 2021 and October 31, 2020 was $0.9 million and $0.1 million, respectively. The Company realized $0.2 million and $0.0 million in tax benefits related to exercised stock options for the years ended October 31, 2021 and October 31, 2020, respectively. The following table summarizes information about stock options outstanding at October 31, 2021 Options Outstanding Options Exercisable Exercise price Number of options Weighted average exercise price Weighted average remaining contractual life (yrs) Aggregate Intrinsic Value Number of options Weighted average exercise price Weighted average remaining contractual life (yrs) Aggregate Intrinsic Value $0.01 473,738 $ 0.01 8.7 $ 4,069 3,758 $ 0.01 7.4 $ 32 $0.87 886,382 $ 0.87 3.3 6,852 886,382 $ 0.87 3.3 $ 6,852 $6.09 324,073 $ 6.09 4.4 - 324,073 $ 6.09 4.4 - Total 1,684,193 $ 1.63 5.0 $ 10,921 1,214,213 $ 2.26 3.6 $ 6,884 As of October 31, 2021 Restricted Stock Awards The following table is a summary of Restricted Stock Awards activity for the years ended October 31, 2021 October 31, 2020 Units Weighted average grant-date fair value Unvested as of October 31, 2019 5,755,459 $ 4.44 Granted - $ - Vested (229,011 ) $ 6.61 Forfeited (111,656 ) $ 4.49 Modified (1,677,001 ) $ 3.89 Unvested as of October 31, 2020 3,737,791 $ 5.39 Granted 112,349 $ 3.80 Vested (757,215 ) $ 5.34 Forfeited (21,534 ) $ 5.00 Unvested as of October 31, 2021 3,071,391 $ 4.98 As of October 31, 2021 The Company realized $0.7 million and $0.3 million in tax benefits related to restricted stock award vestings for the years ended October 31, 2021 October 31, 2020 |
Note 16 - Earnings Per Share
Note 16 - Earnings Per Share | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 16. The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share two two two not not At October 31, 2021 1 2 3 4 5 The table below shows our basic and diluted EPS calculations for the fiscal year ended October 31, 2021 October 31, 2020 Year Ended October 31, (in thousands, except share and per share amounts) 2021 2020 Net loss (numerator): Net loss attributable to Concrete Pumping Holdings, Inc. $ (15,073 ) $ (61,251 ) Less: Accretion of liquidation preference on preferred stock (1,750 ) (1,930 ) Less: Undistributed earnings allocated to participating securities - - Net loss attributable to common stockholders (numerator for basic earnings per share) $ (16,823 ) $ (63,181 ) Add back: Undistributed earning allocated to participating securities - - Less: Undistributed earnings reallocated to participating securities - - Numerator for diluted loss per share $ (16,823 ) $ (63,181 ) Weighted average shares (denominator): Weighted average shares - basic 53,413,594 52,752,884 Weighted average shares - diluted 53,413,594 52,752,884 Basic loss per share $ (0.31 ) $ (1.20 ) Diluted loss per share $ (0.31 ) $ (1.20 ) |
Note 17 - Employee Benefits Pla
Note 17 - Employee Benefits Plan | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 17. Retirement plans The Company offers a 401 may 401 October 31, 2021 October 31, 2020 Camfaud operates a Small Self-Administered Scheme (“SSAS”), which is the equivalent of a U.S. defined contribution pension plan. The assets of the plan are held separately from those of Camfaud in an independently administered fund. Contributions by Camfaud to the SSAS amounted to $0.3 million for the years ended October 31, 2021 October 31, 2020 Multiemployer plans Our U.S. Concrete Pumping segment contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements (CBAs) that cover its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans in the following aspects: (a) Assets contributed to the multiemployer plan by one may may may no The following is a summary of our contributions to each multiemployer pension plan for the years ended October 31, 2021 2020 Year Ended October 31, (in thousands) 2021 2020 California $ 901 $ 685 Oregon 308 301 Washington 279 273 Total contributions $ 1,489 $ 1,259 No no 80 80 65 January 1, 2020 July 1, 2020. Government regulations impose certain requirements relative to multiemployer plans. In the event of plan termination or employer withdrawal, an employer may not not If the construction industry exception applies, then it would delay the imposition of a withdrawal liability. The “construction industry” exception generally delays the imposition of withdrawal liability in connection with an employer’s withdrawal from a “construction industry” multiemployer plan unless and until that employer resumes covered operations in the relevant geographic region without a corresponding resumption of contributions to the multiemployer plan. The Company has no |
Note 18 - Segment Reporting
Note 18 - Segment Reporting | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 18. The Company conducts business through the following reportable segments based on geography and the nature of services sold: ● U.S. Concrete Pumping – Consists of concrete pumping services sold to customers in the U.S. Business in this segment is primarily performed under the Brundage-Bone and Capital Pumping trade names. ● U.K. Operations – Consists of concrete pumping services and leasing of concrete pumping equipment to customers in the U.K. Business in this segment is primarily performed under the Camfaud Concrete Pumps and Premier Concrete Pumping trade names. In addition to concrete pumping, we recently started operations of waste management services in the U.K. under the Eco-Pan trade name and the results of this business are included in this segment. This represents the Company’s foreign operations. ● U.S. Concrete Waste Management Services – Consists of pans and containers rented to customers in the U.S. and the disposal of the concrete waste material services sold to customers in the U.S. Business in this segment is performed under the Eco-Pan trade name. ● Corporate - Is primarily related to the intercompany leasing of real estate to certain of the U.S Concrete Pumping branches. Any differences between segment reporting and consolidated results are reflected in Intersegment below. The accounting policies of the reportable segments are the same as those described in Note 2. Year Ended October 31, (in thousands) 2021 2020 Revenue U.S. Concrete Pumping $ 229,475 $ 229,740 U.K. Operations 48,098 39,145 U.S. Concrete Waste Management Services 38,591 35,890 Corporate 2,500 2,500 Intersegment (2,856 ) (2,974 ) Total revenue $ 315,808 $ 304,301 Income (loss) before income taxes U.S. Concrete Pumping $ (11,915 ) $ (56,095 ) U.K. Operations 731 (16,540 ) U.S. Concrete Waste Management Services 6,986 4,997 Corporate (8,233 ) 1,410 Total income (loss) before income taxes $ (12,431 ) $ (66,228 ) Year Ended October 31, (in thousands) 2021 2020 EBITDA U.S. Concrete Pumping 1 $ 47,497 $ 17,074 U.K. Operations 1 12,128 (5,163 ) U.S. Concrete Waste Management Services 16,433 15,684 Corporate (7,393 ) 2,240 Total EBITDA $ 68,665 $ 29,835 Consolidated EBITDA reconciliation Net loss $ (15,073 ) $ (61,251 ) Interest expense, net 25,190 34,408 Income tax expense (benefit) 2,642 (4,977 ) Depreciation and amortization 55,906 61,655 Total EBITDA $ 68,665 $ 29,835 1 October 31, 2020 October 31, 2020 Year Ended October 31, (in thousands) 2021 2020 Depreciation and amortization U.S. Concrete Pumping $ 37,381 $ 41,717 U.K. Operations 8,238 8,422 U.S. Concrete Waste Management Services 9,447 10,687 Corporate 840 829 Total depreciation and amortization $ 55,906 $ 61,655 Interest expense, net U.S. Concrete Pumping $ (22,031 ) $ (31,452 ) U.K. Operations (3,159 ) (2,955 ) U.S. Concrete Waste Management Services - - Corporate - (1 ) Total interest expense, net $ (25,190 ) $ (34,408 ) Transaction costs and debt extinguishment costs U.S. Concrete Pumping $ 15,822 $ - Total transaction costs including transaction-related debt extinguishment $ 15,822 $ - Total assets by segment for the periods presented are as follows: October 31, October 31, (in thousands) 2021 2020 Total Assets U.S. Concrete Pumping $ 591,820 $ 570,536 U.K. Operations 109,631 109,726 U.S. Concrete Waste Management Services 145,199 140,209 Corporate 26,648 25,517 Intersegment (80,633 ) (72,230 ) Total assets $ 792,665 $ 773,758 The U.S. and U.K. were the only regions that accounted for more than 10% no 10% October 31, 2021 2020 Year Ended October 31, (in thousands) 2021 2020 Revenue by Geography U.S. $ 267,710 $ 265,156 U.K. 48,098 39,145 Total revenue $ 315,808 $ 304,301 October 31, October 31, (in thousands) 2021 2020 Long Lived Assets U.S. $ 285,307 $ 260,693 U.K. 52,464 43,561 Total long lived assets $ 337,771 $ 304,254 |
Note 19 - Related Party Transac
Note 19 - Related Party Transaction | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 19. As discussed in Note 12, October 2020, 2021 |
Note 20 - Subsequent Events
Note 20 - Subsequent Events | 12 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 20. On November 1, 2021, 10 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The enclosed statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of the Company at October 31, 2021 October 31, 2020 |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The Consolidated Financial Statements include all amounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. |
Reclassification, Comparability Adjustment [Policy Text Block] | Revision of Previously Issued Consolidated Financial Statements On April 12, 2021, may may one August 2017, 1 October 31, 2019 December 6, 2018 October 31, 2019 2 July 31, 2019, April 30, 2019, January 31, 2019. not not 1 October 31, 2020 2 July 31, 2020, April 30, 2020, January 31, 2020 no |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the liability for incurred but unreported claims under various partially self-insured polices, allowance for doubtful accounts, goodwill impairment analysis, valuation of share-based compensation and accounting for business combinations. Actual results may may |
Accounts Receivable [Policy Text Block] | Trade receivables Trade receivables are carried at the original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts. Generally, the Company does not may 30 not Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. The allowance for doubtful accounts was $0.7 million and $0.6 million as of October 31, 2021 2020 |
Inventory, Policy [Policy Text Block] | Inventory Inventory consists primarily of replacement parts for concrete pumping equipment. Inventories are stated at the lower of cost ( first first no October 31, 2021 2020 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value Measurements The FASB’s standard on fair value measurements establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This standard establishes three may Level 1 Level 2 1 Level 3 |
Debt, Policy [Policy Text Block] | Deferred financing costs Deferred financing costs representing third Debt issuance costs, including any original issue discounts, related to term loans are reflected as a direct deduction from the carrying amount of the long-term debt liability that is included in long term debt, net of discount for deferred financing costs in the accompanying consolidated balance sheet. Debt issuance costs related to revolving credit facilities are capitalized and reflected in deferred financing in the accompanying consolidated balance sheet. Amortization of the debt issuance costs are recorded in interest expense. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill In accordance with ASC Topic 350, 350” may not two first no not second not During the second 2020, 19 one 2017 04, 350 2017 04” 8 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, plant and equipment Property, plant and equipment are recorded at cost. Expenditures for additions and betterments are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred; however, maintenance and repairs that improve or extend the life of existing assets are capitalized. The carrying amount of assets disposed of and the related accumulated depreciation are eliminated from the accounts in the year of disposal. Gains or losses from property and equipment disposals are recognized in the year of disposal. Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives: In Years Buildings and improvements 15 to 40 Capital lease assets—buildings 40 Furniture and office equipment 2 to 7 Machinery and equipment 3 to 25 Transportation equipment 3 to 7 Capital lease assets are being amortized over the estimated useful life of the asset (see Note 13 |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets are recorded at cost or their estimated fair value (when acquired through a business combination) less accumulated amortization (if finite-lived). Intangible assets with finite lives, except for customer relationships, are amortized on a straight-line basis over their estimated useful lives. Customer relationships are amortized on an accelerated basis over their estimated useful lives. Intangible assets with indefinite lives are not second 2020 8 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of long-lived assets ASC 360, Property, Plant and Equipment 360 No October 31, 2021 |
Revenue [Policy Text Block] | Revenue recognition The Company adopted ASC 606, Revenue Recognition (ASC 606 October 31, 2021, November 1, 2020, . October 31, 2021 606, not 605: 605 not The Company generates revenues primarily from ( 1 2 Concrete Pumping Services The vast majority of all revenue from concrete pumping services comes from the Company's daily service, where the Company sends a single operator with a conventional concrete pump truck (an articulating boom attached to a large truck) to deliver concrete (or other construction material such as aggregate) from one 1 2 no A much smaller component of the total concrete pumping services revenue comes from placing boom services. Placing booms have become an essential tool in the efficient construction of high-rise buildings. A placing boom is the articulating boom component of a conventional concrete pump truck, positioned on the uppermost floor of a building construction project. Concrete is then supplied through a pipeline from the pump that remains at ground level. Due to the long term nature of high-rise jobs, these contracts are generally longer term but typically not one 1 2 3 606. not 30 not Concrete Waste Services The Company’s concrete waste services business consists of service fees charged to customers for the delivery and usage over time of its pans or containers and the disposal of the concrete waste material. For these services, the Company has identified two 1 2 not 30 not Practical Expedients Applied The Company collects sales taxes when required from customers as part of the purchase price, which are then subsequently remitted to the appropriate authorities. The Company has elected to apply the practical expedient provided by ASC 606, At contract inception, the Company does not one 30 606 no In addition, the Company incurs limited costs in order to obtain contracts. However, as the amortization period for these assets would be one 606 not Disaggregation of Revenue Revenue disaggregated by reportable segment and geographic area where the work was performed for the fiscal years ended October 31, 2021 2020 18. |
Share-based Payment Arrangement [Policy Text Block] | Stock-based compensation The Company follows ASC 718, Compensation—Stock Compensation (ASC 718 $ .01 not |
Income Tax, Policy [Policy Text Block] | Income taxes The Company complies with ASC 740, Income Taxes The Company computes deferred income tax assets and liabilities annually for differences between the financial statements and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not Camfaud files income tax returns in the U.K. Camfaud’s national statutes are generally open for one |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign currency translation The functional currency of Camfaud is the Pound Sterling (GBP). The assets and liabilities of the Company's foreign subsidiaries are translated into U.S. Dollars using the period end exchange rates for the periods presented, and the consolidated statements of operations are translated at the average exchange rate for the periods presented. The resulting translation adjustments are recorded as a component of comprehensive income on the consolidated statements of comprehensive income and the only component of accumulated in other comprehensive income. The functional currency of our other subsidiaries is the United States Dollar. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per share The Company calculates earnings per share in accordance with ASC 260, Earnings per Share two two 260, two 1 2 Basic earnings (loss) per common share is calculated by dividing net income (loss) attributable to common shareholders by the weighted average number of shares of Common Stock outstanding each period. Diluted earnings (loss) per common share is based on the weighted average number of shares outstanding during the period plus the common stock equivalents which would arise from the exercise of stock options outstanding using the treasury stock method and the average market price per share during the period. Common stock equivalents are not An anti-dilutive impact is an increase in earnings per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities. |
Business Combinations Policy [Policy Text Block] | Business combinations and asset acquisitions The Company applies the principles provided in ASC 805, Business Combinations If it is determined an acquisition is a business combination, tangible and intangible assets acquired and liabilities assumed are recorded at fair value and goodwill is recognized for any differences between the fair value of consideration transferred and the fair value of net assets acquired. Transaction costs for business combinations are expensed as incurred in accordance with ASC 805. If it is determined an acquisition is an asset acquisition, the purchase consideration (which will include certain transaction costs) is allocated to the acquired assets and liabilities based on their relative fair values. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations As of October 31, 2021 three Cash balances held at financial institutions may, The Company’s customer base is dispersed across the U.S. and U.K. The Company performs ongoing evaluations of its customers’ financial condition and requires no no 10 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment, Useful Life [Table Text Block] | In Years Buildings and improvements 15 to 40 Capital lease assets—buildings 40 Furniture and office equipment 2 to 7 Machinery and equipment 3 to 25 Transportation equipment 3 to 7 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurement (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | October 31, October 31, 2021 2020 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Term loans $ - $ - $ 381,205 $ 365,003 Senior notes $ 375,000 $ 390,938 $ - $ - Capital lease obligations $ 381 $ 381 $ 477 $ 477 |
Note 6 - Prepaid Expenses and_2
Note 6 - Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | October 31, October 31, (in thousands) 2021 2020 Prepaid insurance $ 949 $ 1,399 Prepaid licenses and deposits 360 429 Prepaid rent 331 149 Other current assets and prepaids 2,470 717 Total prepaid expenses and other current assets $ 4,110 $ 2,694 |
Note 7 - Property, Plant and _2
Note 7 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | October 31, October 31, (in thousands) 2021 2020 Land, building and improvements $ 27,062 $ 26,728 Capital leases—land and buildings 828 828 Machinery and equipment 374,034 318,029 Transportation equipment 2,935 2,338 Furniture and office equipment 2,880 1,230 Property, plant and equipment, gross 407,739 349,153 Less accumulated depreciation (69,968 ) (44,899 ) Property, plant and equipment, net $ 337,771 $ 304,254 |
Note 8 - Goodwill and Intangi_2
Note 8 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | October 31, October 31, 2021 2020 Gross Foreign Currency Net Gross Foreign Currency Net Carrying Accumulated Translation Carrying Carrying Accumulated Translation Carrying (in thousands) Value Impairment Amortization Adjustment Amount Value Impairment Amortization Adjustment Amount Customer relationship $ 195,220 $ - $ (91,169 ) $ (539 ) $ 103,512 $ 193,585 $ - $ (64,676 ) $ (106 ) $ 128,803 Trade name 5,748 - (1,598 ) (71 ) 4,079 5,432 - (1,020 ) (14 ) $ 4,398 Trade name (indefinite life) 55,500 (5,000 ) - - 50,500 55,500 (5,000 ) - - $ 50,500 Assembled workforce 350 - - - 350 - - - - $ - Noncompete agreements 200 - (102 ) - 98 200 - (62 ) - $ 138 Total intangibles $ 257,018 $ (5,000 ) $ (92,869 ) $ (610 ) $ 158,539 $ 254,717 $ (5,000 ) $ (65,758 ) $ (120 ) $ 183,839 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) 2022 $ 22,010 2023 17,499 2024 14,058 2025 11,301 2026 9,247 Thereafter 33,924 Total $ 108,039 |
Schedule of Goodwill [Table Text Block] | (in thousands) U.S. Concrete Pumping U.K. Operations U.S. Concrete Waste Management Services Total Balance at October 31, 2019 $ 185,782 $ 41,173 $ 49,133 $ 276,088 Measurement-period adjustments 200 - - 200 Impairments* (38,500 ) (14,444 ) - (52,944 ) Foreign currency translation - (190 ) - (190 ) Balance at October 31, 2020 $ 147,482 $ 26,539 $ 49,133 $ 223,154 Foreign currency translation - 1,546 - 1,546 Balance at October 31, 2021 $ 147,482 $ 28,085 $ 49,133 $ 224,700 |
Note 9 - Long-Term Debt and R_2
Note 9 - Long-Term Debt and Revolving Lines of Credit (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | October 31, October 31, (in thousands) 2021 2020 Short term portion of term loan - 20,888 Long term portion of term loan - 360,317 Senior notes - all long term 375,000 - Total debt, gross 375,000 381,205 Less unamortized deferred financing costs offsetting long term debt (5,916 ) (16,411 ) Total debt, net of unamortized deferred financing costs $ 369,084 $ 364,794 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (in thousands) 2022 $ - 2023 - 2024 - 2025 - 2026 375,000 Total $ 375,000 |
Note 10 - Accrued Payroll and_2
Note 10 - Accrued Payroll and Payroll Expenses (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Payroll and Expenses [Table Text Block] | October 31, October 31, (in thousands) 2021 2020 Accrued vacation $ 1,967 $ 1,667 Accrued payroll 1,727 1,507 Accrued bonus 3,593 4,752 Accrued employee-related taxes 4,606 4,819 Other accrued 333 320 Total accrued payroll and payroll expenses $ 12,226 $ 13,065 |
Note 11 - Accrued Expenses an_2
Note 11 - Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | October 31, October 31, (in thousands) 2021 2020 Accrued insurance $ 7,473 $ 7,806 Accrued interest 5,627 146 Accrued equipment purchases 4,955 4,149 Accrued sales and use tax 690 311 Accrued property taxes 917 882 Accrued professional fees 1,134 1,213 Accrued due to related party - 1,765 Other 3,144 2,607 Total accrued expenses and other liabilities $ 23,940 $ 18,879 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 United States $ (13,162 ) $ (49,688 ) Foreign 731 (16,540 ) Total $ (12,431 ) $ (66,228 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Current tax provision (benefit): Federal $ - $ (4,299 ) Foreign (375 ) (9 ) State and local 470 361 Total current tax provision (benefit) 95 (3,947 ) Deferred tax provision (benefit): Federal $ 483 $ 759 Foreign 2,134 126 State and local (70 ) (1,914 ) Total deferred tax benefit 2,547 (1,029 ) Net provision (benefit) for income taxes $ 2,642 $ (4,977 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Income tax benefit per federal statutory rate of 21 $ (2,611 ) $ (13,967 ) State income taxes, net of federal deduction 193 (150 ) Change in deferred tax rate (92 ) (1,654 ) Warrant fair value change 2,078 55 Nontaxable interest income net of foreign income inclusions - 717 Deferred tax on undistributed foreign earnings 505 (255 ) Impact of tax reform in the U.K. (see discussion below) 2,125 859 Goodwill impairment - 9,812 Impact of US tax reform from CARES Act - (1,381 ) Settlement with related party - 420 Other 444 567 Income tax provision (benefit) $ 2,642 $ (4,977 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Deferred tax assets: Accrued insurance reserve $ 1,329 $ 1,637 Accrued sales and use tax 75 75 Accrued bonuses and vacation 1,276 1,521 Accrued payroll tax 675 676 Foreign tax credit carryforward 80 80 State tax credit carryforward 50 70 Interest expense carryforward 649 4,089 Stock-based compensation 3,608 3,127 Other 364 335 Net operating loss carryforward 17,771 10,308 Total deferred tax assets $ 25,877 $ 21,918 Valuation allowance (63 ) (63 ) Net deferred tax assets $ 25,814 $ 21,855 Deferred tax liabilities: Intangible assets (23,837 ) (27,504 ) Property and equipment (71,400 ) (61,761 ) Prepaid expenses (157 ) (128 ) Unremitted foreign earnings (986 ) (481 ) Total net deferred tax liabilities (96,380 ) (89,874 ) Net deferred tax liabilities $ (70,566 ) $ (68,019 ) |
Summary of Operating Loss and Tax Credit Carryforwards [Table Text Block] | (in millions) Balance as of October 31, 2021 Year that Carryforwards Begin to Expire Federal net operating loss carryforwards $ 70.3 N/A – Carried forward indefinitely State net operating loss carryforwards 35.8 2026 Foreign tax carryforwards 0.1 2026 State credit carryforwards 0.1 2023 Interest expense carryforwards 0.1 N/A – Carried forward indefinitely Total tax carryforwards $ 106.4 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | (in thousands) Year Ended October 31, 2021 Year Ended October 31, 2020 Balance, beginning of year $ 1,572 $ 1,726 Increase in current year position - - Increase in prior year position - - Decrease in prior year position (120 ) (154 ) Lapse in statute of limitations - - Balance, end of year $ 1,452 $ 1,572 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (in thousands) Future Payments 2022 $ 3,514 2023 2,202 2024 1,396 2025 654 2026 491 Thereafter 960 Total $ 9,217 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | (in thousands) Future Payments 2022 $ 115 2023 118 2024 120 2025 61 2026 - Thereafter - Total minimum lease payments 414 Less the amount representing interest (33 ) Present value of minimum lease payments $ 381 |
Schedule of Deductibles for General and Workers' Compensation Liability [Table Text Block] | Deductible General liability $ 350,000 Automobile $ 250,000 Workers' compensation $ 250,000 |
Note 15 - Stock-based Compens_2
Note 15 - Stock-based Compensation (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | Location Type of Award Shares Unvested at October 31, 2021 Weighted Average Fair Value Unrecognized Compensation Expense at October 31, 2021 Date Expense will be Recognized Through (Straight-Line Basis) U.S. Time Based Only 875,632 $ 6.56 $ 3,228,912 12/6/2023 U.S. $6 Market/Time- Based 150,697 $ 3.86 - 10/29/2020 U.S. $6 Market/Time- Based 191,902 $ 8.65 $ 273,110 3/29/2022 * U.S. $6 Market/Time- Based 191,902 $ 8.65 $ 630,290 3/29/2023 * U.S. $6 Market/Time- Based 191,913 $ 8.65 $ 833,930 3/29/2024 * U.S. $8 Market/Time- Based 150,697 $ 3.46 - 10/29/2020 U.S. $8 Market/Time- Based 191,903 $ 7.45 $ 423,243 8/23/2022 ** U.S. $8 Market/Time- Based 191,903 $ 7.45 $ 641,359 8/23/2023 ** U.S. $8 Market/Time- Based 191,912 $ 7.45 $ 780,270 8/23/2024 ** U.S. $10 Market/Time- Based 150,706 $ 3.15 - 10/29/2020 U.S. $10 Market/Time- Based 191,471 $ 6.46 $ 444,144 7/9/2023 U.S. $10 Market/Time- Based 191,467 $ 6.46 $ 599,208 7/9/2024 U.S. $10 Market/Time- Based 191,482 $ 6.46 $ 704,994 7/9/2025 U.S. $13 Market/Time- Based 433 $ 4.47 $ 317 5/4/2022 U.S. $13 Market/Time- Based 433 $ 4.47 $ 714 5/4/2023 U.S. $13 Market/Time- Based 434 $ 4.47 $ 957 5/4/2024 U.S. $16 Market/Time- Based 433 $ 3.85 $ 403 8/27/2022 U.S. $16 Market/Time- Based 433 $ 3.85 $ 691 8/27/2023 U.S. $16 Market/Time- Based 434 $ 3.85 $ 874 8/27/2024 U.S. $19 Market/Time- Based 433 $ 3.34 $ 420 11/19/2022 U.S. $19 Market/Time- Based 433 $ 3.34 $ 642 11/19/2023 U.S. $19 Market/Time- Based 434 $ 3.34 $ 787 11/19/2024 U.S. $10 Market/Time- Based 4,635 $ 7.28 $ 29,202 1/31/2023 U.S. $10 Market/Time- Based 4,635 $ 7.28 $ 31,061 1/31/2024 U.S. $10 Market/Time- Based 4,634 $ 7.28 $ 31,831 1/31/2025 U.K. Time Based Only 132,259 $ 6.52 $ 443,536 12/6/2023 U.K. $6 Market/Time- Based 28,885 $ 3.85 - 10/29/2020 U.K. $6 Market/Time- Based 27,892 $ 8.36 $ 39,250 3/29/2022 * U.K. $6 Market/Time- Based 27,892 $ 8.36 $ 89,849 3/29/2023 * U.K. $6 Market/Time- Based 27,901 $ 8.36 $ 118,514 3/29/2024 * U.K. $8 Market/Time- Based 28,885 $ 3.45 - 10/29/2020 U.K. $8 Market/Time- Based 27,892 $ 7.20 $ 60,581 8/23/2022 ** U.K. $8 Market/Time- Based 27,892 $ 7.20 $ 91,259 8/23/2023 ** U.K. $8 Market/Time- Based 27,901 $ 7.20 $ 110,756 8/23/2024 ** U.K. $10 Market/Time- Based 28,886 $ 3.14 - 10/29/2020 U.K. $10 Market/Time- Based 27,902 $ 6.24 $ 63,479 7/9/2023 U.K. $10 Market/Time- Based 27,892 $ 6.24 $ 85,174 7/9/2024 U.K. $10 Market/Time- Based 27,901 $ 6.24 $ 100,005 7/9/2025 Total 3,541,371 $ 9,859,764 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Weighted average grant date fair value Weighted average exercise price Outstanding stock options, October 31, 2019 2,069,398 $ 5.81 $ 1.33 Granted 7,250 $ 4.58 $ 0.01 Forfeited (25,888 ) $ 4.47 $ 0.01 Exercised (27,660 ) $ 6.67 $ 0.01 Expired (500 ) $ 6.67 $ 0.01 Modified (231,284 ) $ 5.04 $ 0.01 Outstanding stock options, October 31, 2020 1,791,316 $ 6.80 $ 1.54 Granted 30,000 $ 2.48 $ 0.01 Forfeited (3,807 ) $ 7.46 $ 0.01 Exercised (133,316 ) $ 5.24 $ 0.01 Outstanding stock options, October 31, 2021 1,684,193 $ 6.85 $ 1.63 The total intrinsic value of stock options exercised for the years ended October 31, 2021 and October 31, 2020 was $0.9 million and $0.1 million, respectively. The Company realized $0.2 million and $0.0 million in tax benefits related to exercised stock options for the years ended October 31, 2021 and October 31, 2020, respectively. |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Options Outstanding Options Exercisable Exercise price Number of options Weighted average exercise price Weighted average remaining contractual life (yrs) Aggregate Intrinsic Value Number of options Weighted average exercise price Weighted average remaining contractual life (yrs) Aggregate Intrinsic Value $0.01 473,738 $ 0.01 8.7 $ 4,069 3,758 $ 0.01 7.4 $ 32 $0.87 886,382 $ 0.87 3.3 6,852 886,382 $ 0.87 3.3 $ 6,852 $6.09 324,073 $ 6.09 4.4 - 324,073 $ 6.09 4.4 - Total 1,684,193 $ 1.63 5.0 $ 10,921 1,214,213 $ 2.26 3.6 $ 6,884 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Units Weighted average grant-date fair value Unvested as of October 31, 2019 5,755,459 $ 4.44 Granted - $ - Vested (229,011 ) $ 6.61 Forfeited (111,656 ) $ 4.49 Modified (1,677,001 ) $ 3.89 Unvested as of October 31, 2020 3,737,791 $ 5.39 Granted 112,349 $ 3.80 Vested (757,215 ) $ 5.34 Forfeited (21,534 ) $ 5.00 Unvested as of October 31, 2021 3,071,391 $ 4.98 |
Note 16 - Earnings Per Share (T
Note 16 - Earnings Per Share (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended October 31, (in thousands, except share and per share amounts) 2021 2020 Net loss (numerator): Net loss attributable to Concrete Pumping Holdings, Inc. $ (15,073 ) $ (61,251 ) Less: Accretion of liquidation preference on preferred stock (1,750 ) (1,930 ) Less: Undistributed earnings allocated to participating securities - - Net loss attributable to common stockholders (numerator for basic earnings per share) $ (16,823 ) $ (63,181 ) Add back: Undistributed earning allocated to participating securities - - Less: Undistributed earnings reallocated to participating securities - - Numerator for diluted loss per share $ (16,823 ) $ (63,181 ) Weighted average shares (denominator): Weighted average shares - basic 53,413,594 52,752,884 Weighted average shares - diluted 53,413,594 52,752,884 Basic loss per share $ (0.31 ) $ (1.20 ) Diluted loss per share $ (0.31 ) $ (1.20 ) |
Note 17 - Employee Benefits P_2
Note 17 - Employee Benefits Plan (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Multiemployer Plan [Table Text Block] | Year Ended October 31, (in thousands) 2021 2020 California $ 901 $ 685 Oregon 308 301 Washington 279 273 Total contributions $ 1,489 $ 1,259 |
Note 18 - Segment Reporting (Ta
Note 18 - Segment Reporting (Tables) | 12 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended October 31, (in thousands) 2021 2020 Revenue U.S. Concrete Pumping $ 229,475 $ 229,740 U.K. Operations 48,098 39,145 U.S. Concrete Waste Management Services 38,591 35,890 Corporate 2,500 2,500 Intersegment (2,856 ) (2,974 ) Total revenue $ 315,808 $ 304,301 Income (loss) before income taxes U.S. Concrete Pumping $ (11,915 ) $ (56,095 ) U.K. Operations 731 (16,540 ) U.S. Concrete Waste Management Services 6,986 4,997 Corporate (8,233 ) 1,410 Total income (loss) before income taxes $ (12,431 ) $ (66,228 ) Year Ended October 31, (in thousands) 2021 2020 EBITDA U.S. Concrete Pumping 1 $ 47,497 $ 17,074 U.K. Operations 1 12,128 (5,163 ) U.S. Concrete Waste Management Services 16,433 15,684 Corporate (7,393 ) 2,240 Total EBITDA $ 68,665 $ 29,835 Consolidated EBITDA reconciliation Net loss $ (15,073 ) $ (61,251 ) Interest expense, net 25,190 34,408 Income tax expense (benefit) 2,642 (4,977 ) Depreciation and amortization 55,906 61,655 Total EBITDA $ 68,665 $ 29,835 Year Ended October 31, (in thousands) 2021 2020 Depreciation and amortization U.S. Concrete Pumping $ 37,381 $ 41,717 U.K. Operations 8,238 8,422 U.S. Concrete Waste Management Services 9,447 10,687 Corporate 840 829 Total depreciation and amortization $ 55,906 $ 61,655 Interest expense, net U.S. Concrete Pumping $ (22,031 ) $ (31,452 ) U.K. Operations (3,159 ) (2,955 ) U.S. Concrete Waste Management Services - - Corporate - (1 ) Total interest expense, net $ (25,190 ) $ (34,408 ) Transaction costs and debt extinguishment costs U.S. Concrete Pumping $ 15,822 $ - Total transaction costs including transaction-related debt extinguishment $ 15,822 $ - |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | October 31, October 31, (in thousands) 2021 2020 Total Assets U.S. Concrete Pumping $ 591,820 $ 570,536 U.K. Operations 109,631 109,726 U.S. Concrete Waste Management Services 145,199 140,209 Corporate 26,648 25,517 Intersegment (80,633 ) (72,230 ) Total assets $ 792,665 $ 773,758 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Year Ended October 31, (in thousands) 2021 2020 Revenue by Geography U.S. $ 267,710 $ 265,156 U.K. 48,098 39,145 Total revenue $ 315,808 $ 304,301 October 31, October 31, (in thousands) 2021 2020 Long Lived Assets U.S. $ 285,307 $ 260,693 U.K. 52,464 43,561 Total long lived assets $ 337,771 $ 304,254 |
Note 1 - Organization and Des_2
Note 1 - Organization and Description of Business (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2020USD ($) | Oct. 31, 2021USD ($) | Oct. 31, 2020USD ($) | |
Goodwill and Intangible Asset Impairment, Total | $ 0 | $ 57,944 | |
US Concrete Pumping [Member] | |||
Goodwill and Intangible Asset Impairment, Total | $ 43,500 | ||
Goodwill, Impairment Loss | 0 | 38,500 | |
UK Operations [Member] | |||
Goodwill and Intangible Asset Impairment, Total | $ 14,400 | ||
Goodwill, Impairment Loss | $ 0 | $ 14,400 | |
Brundage-Bone [Member] | |||
Number of Stores | 90 | ||
Number of States in which Entity Operates | 19 | ||
Camfaud [Member] | |||
Number of Stores | 30 | ||
Eco-Pan, Inc. [Member] | |||
Number of Stores | 17 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Oct. 31, 2021USD ($)$ / shares | Oct. 31, 2020USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 700 | $ 600 |
Inventory Valuation Reserves, Ending Balance | 0 | $ 0 |
Impairment, Long-Lived Asset, Held-for-Use, Total | $ 0 | |
Supplier Concentration Risk [Member] | Cost of Goods and Service Benchmark [Member] | ||
Number of Vendors | 3 | |
Time Based Only [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 0.01 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) | 12 Months Ended |
Oct. 31, 2021 | |
Building and Building Improvements [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 15 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 40 years |
Leaseholds and Leasehold Improvements [Member] | |
Estimated useful lives (Year) | 40 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 2 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 7 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 3 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 25 years |
Transportation Equipment [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 3 years |
Transportation Equipment [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 7 years |
Note 4 - Business Combination_2
Note 4 - Business Combinations and Asset Acquisitions (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Oct. 31, 2021 | Oct. 31, 2020 | |
Payments to Acquire Property, Plant, and Equipment, Total | $ 62,792 | $ 39,339 | |
Payments to Acquire Intangible Assets | $ 750 | $ 0 | |
Hi-Tech Concrete Pumping Services [Member] | |||
Payments to Acquire Productive Assets, Total | $ 12,300 | ||
Payments to Acquire Property, Plant, and Equipment, Total | 11,500 | ||
Payments to Acquire Intangible Assets | $ 800 | ||
Hi-Tech Concrete Pumping Services [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | ||
Hi-Tech Concrete Pumping Services [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurement (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Nov. 30, 2016 | Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2019 | Dec. 06, 2018 |
Payment for Contingent Consideration Liability, Financing Activities | $ 0 | $ 1,161 | |||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.50 | $ 11.50 | |||
Public Warrants [Member] | |||||
Class of Warrant or Right, Outstanding (in shares) | 13,017,777 | 13,017,777 | |||
Private Warrants [Member] | |||||
Class of Warrant or Right, Outstanding (in shares) | 0 | 0 | |||
Warrant To Purchase Class A Common Stock [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.50 | ||||
Class of Warrant or Right, Redemption Price (in dollars per share) | 0.01 | ||||
Class of Warrant or Right, Redemption, Common Stock Price Trigger (in dollars per share) | $ 18 | ||||
Class of Warrant or Right, Redemption, Trading Period (Day) | 20 days | ||||
Class of Warrant or Right, Redemption, Trading Period Maximum (Day) | 30 days | ||||
Camfaud [Member] | |||||
Payment for Contingent Consideration Liability, Financing Activities | $ 1,200 | ||||
Payment for Contingent Consideration Liability, Operating Activities | $ 500 | ||||
Camfaud [Member] | Earnout Payments [Member] | |||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 3,100 | ||||
Earnout Period (Year) | 3 years | ||||
Business Combination, Contingent Consideration, Liability, Total | $ 1,700 |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurement - Fair Value of Long-term Debt (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Reported Value Measurement [Member] | Term Loan Agreement [Member] | ||
Debt, fair value | $ 0 | $ 381,205 |
Reported Value Measurement [Member] | Senior Secured Notes [Member] | ||
Debt, fair value | 375,000 | 0 |
Reported Value Measurement [Member] | Capital Lease Obligations [Member] | ||
Debt, fair value | 381 | 477 |
Estimate of Fair Value Measurement [Member] | Term Loan Agreement [Member] | ||
Debt, fair value | 0 | 365,003 |
Estimate of Fair Value Measurement [Member] | Senior Secured Notes [Member] | ||
Debt, fair value | 390,938 | 0 |
Estimate of Fair Value Measurement [Member] | Capital Lease Obligations [Member] | ||
Debt, fair value | $ 381 | $ 477 |
Note 6 - Prepaid Expenses and_3
Note 6 - Prepaid Expenses and Other Current Assets - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Prepaid insurance | $ 949 | $ 1,399 |
Prepaid licenses and deposits | 360 | 429 |
Prepaid rent | 331 | 149 |
Other current assets and prepaids | 2,470 | 717 |
Total prepaid expenses and other current assets | $ 4,110 | $ 2,694 |
Note 7 - Property, Plant and _3
Note 7 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Depreciation, Total | $ 28.8 | $ 28.3 |
Note 7 - Property, Plant and _4
Note 7 - Property, Plant and Equipment - Components of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Property, plant and equipment, gross | $ 407,739 | $ 349,153 |
Less accumulated depreciation | (69,968) | (44,899) |
Property, plant and equipment, net | 337,771 | 304,254 |
Land, Buildings and Improvements [Member] | ||
Property, plant and equipment, gross | 27,062 | 26,728 |
Assets Held under Capital Leases [Member] | ||
Property, plant and equipment, gross | 828 | 828 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | 374,034 | 318,029 |
Transportation Equipment [Member] | ||
Property, plant and equipment, gross | 2,935 | 2,338 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 2,880 | $ 1,230 |
Note 8 - Goodwill and Intangi_3
Note 8 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Amortization of Intangible Assets, Total | $ 27,111 | $ 33,392 |
US Concrete Pumping [Member] | ||
Reporting Unit, Percentage of Carrying Amount In Excess of Fair Value | 6.90% | |
Goodwill, Impairment Loss | 0 | $ 38,500 |
UK Operations [Member] | ||
Reporting Unit, Percentage of Carrying Amount In Excess of Fair Value | 14.80% | |
Goodwill, Impairment Loss | 0 | $ 14,400 |
US Concrete Waste Management Services [Member] | ||
Goodwill, Impairment Loss | $ 0 | |
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 4.50% | |
Brundage-Bone Concrete Pumping, Trade Name [Member] | ||
Indefinite-lived Intangible Assets, Carrying Value in Excess of Fair Value, Percent | 11.80% | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 5,000 | |
Indefinite-Lived Trade Names | 37,300 | |
Eco-Pan, Trade Name [Member] | ||
Indefinite-Lived Trade Names | $ 7,700 | |
Indefinite-Lived Intangible Assets, Fair Value in Excess of Carrying Value, Percent | 7.80% | |
Capital Pumping, Trade Name [Member] | ||
Indefinite-Lived Trade Names | $ 5,500 | |
Indefinite-Lived Intangible Assets, Fair Value in Excess of Carrying Value, Percent | 109.10% |
Note 8 - Goodwill and Intangi_4
Note 8 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Accumulated amortization | $ (92,869) | $ (65,758) |
Foreign currency translation adjustment | (610) | (120) |
Net carrying amount | 108,039 | |
Impairments | (5,000) | (5,000) |
Gross carrying value | 257,018 | 254,717 |
Foreign currency translation adjustment | (610) | (120) |
Net carrying amount | 158,539 | 183,839 |
Trade Names, Indefinite-lived [Member] | ||
Foreign currency translation adjustment | (14) | |
Net carrying amount | 4,398 | |
Gross carrying value, indefinite | 55,500 | 55,500 |
Impairments | (5,000) | (5,000) |
Net carrying amount, indefinite | 50,500 | 50,500 |
Foreign currency translation adjustment | (14) | |
Customer Relationships [Member] | ||
Gross carrying value | 195,220 | 193,585 |
Accumulated amortization | (91,169) | (64,676) |
Foreign currency translation adjustment | (539) | (106) |
Net carrying amount | 103,512 | 128,803 |
Foreign currency translation adjustment | (539) | (106) |
Trade Names [Member] | ||
Gross carrying value | 5,748 | 5,432 |
Accumulated amortization | (1,598) | (1,020) |
Foreign currency translation adjustment | (71) | |
Net carrying amount | 4,079 | |
Foreign currency translation adjustment | (71) | |
Assembled Workforce [Member] | ||
Gross carrying value | 350 | |
Net carrying amount | 350 | |
Noncompete Agreements [Member] | ||
Gross carrying value | 200 | 200 |
Accumulated amortization | (102) | (62) |
Net carrying amount | $ 98 | $ 138 |
Note 8 - Goodwill and Intangi_5
Note 8 - Goodwill and Intangible Assets - Intangible Assets Amortization Expense (Details) $ in Thousands | Oct. 31, 2021USD ($) |
2022 | $ 22,010 |
2023 | 17,499 |
2024 | 14,058 |
2025 | 11,301 |
2026 | 9,247 |
Thereafter | 33,924 |
Total | $ 108,039 |
Note 8 - Goodwill and Intangi_6
Note 8 - Goodwill and Intangible Assets - Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | ||
Balance | $ 223,154 | ||
Balance | 224,700 | $ 223,154 | |
Operating Segments [Member] | |||
Measurement-period adjustments | 200 | ||
Impairments* | [1] | (52,944) | |
Foreign currency translation | 1,546 | ||
Balance | 224,700 | ||
US Concrete Pumping [Member] | Operating Segments [Member] | |||
Balance | 147,482 | 185,782 | |
Balance | 147,482 | ||
UK Operations [Member] | Operating Segments [Member] | |||
Balance | 26,539 | 41,173 | |
Measurement-period adjustments | 0 | ||
Impairments* | [1] | (14,444) | |
Foreign currency translation | 1,546 | (190) | |
Balance | 28,085 | 26,539 | |
US Concrete Waste Management Services [Member] | Operating Segments [Member] | |||
Balance | 49,133 | 49,133 | |
Measurement-period adjustments | 0 | ||
Impairments* | [1] | 0 | |
Foreign currency translation | 0 | ||
Balance | 49,133 | 49,133 | |
UK Concrete Pumping [Member] | Operating Segments [Member] | |||
Measurement-period adjustments | 200 | ||
Impairments* | [1] | $ (38,500) | |
Foreign currency translation | 0 | ||
Balance | $ 147,482 | ||
[1] | Represents cumulative goodwill adjustment. |
Note 9 - Long-Term Debt and R_3
Note 9 - Long-Term Debt and Revolving Lines of Credit (Details Textual) - USD ($) $ in Thousands | Jan. 28, 2021 | Dec. 06, 2018 | Oct. 31, 2021 | May 31, 2019 | Sep. 30, 2021 | Oct. 31, 2021 | Oct. 31, 2020 |
Long-term Debt, Total | $ 369,084 | $ 369,084 | $ 364,794 | ||||
Debt Issuance Costs, Net, Total | 5,916 | 5,916 | $ 16,411 | ||||
Term Loan Agreement [Member] | |||||||
Debt Instrument, Face Amount | $ 357,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||
Proceeds from Issuance of Long-term Debt, Total | $ 60,000 | ||||||
Long-term Debt, Term (Year) | 7 years | ||||||
Gain (Loss) on Extinguishment of Debt, before Write off of Debt Issuance Cost | $ 15,500 | ||||||
Senior Secured Notes [Member] | |||||||
Debt Issuance Costs, Net, Total | 7,000 | ||||||
Asset Backed Revolving Credit Facility [Member] | |||||||
Debt Issuance Costs, Line of Credit Arrangements, Net, Total | 1,500 | ||||||
Base Rate [Member] | Term Loan Agreement [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||
Eurodollar [Member] | Term Loan Agreement [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||
Asset Backed Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 125,000 | $ 60,000 | |||||
Line of Credit Facility, Additional Borrowing Capacity | 75,000 | ||||||
Long-term Line of Credit, Total | 1,000 | 1,000 | |||||
Line of Credit Facility, Remaining Borrowing Capacity | 120,600 | 120,600 | |||||
Senior Secured Notes [Member] | |||||||
Debt Instrument, Face Amount | $ 375,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||
Long-term Debt, Total | $ 375,000 | $ 375,000 | |||||
Standby Letters of Credit [Member] | Asset Backed Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 7,500 | ||||||
Other Loan Borrowings [Member] | Asset Backed Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,500 | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||||||
Other Loan Borrowings [Member] | Asset Backed Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | 2.25% | |||||
Other Loan Borrowings [Member] | Asset Backed Revolving Credit Facility [Member] | Base Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | 1.25% | |||||
Other Loan Borrowings [Member] | Asset Backed Revolving Credit Facility [Member] | Sterling Overnight Index Average [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.0326% | ||||||
Average Excess Availability, Tranche One [Member] | Asset Backed Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Quarterly Average Excess Availability, Percent | 50.00% | ||||||
Average Excess Availability, Tranche One [Member] | Asset Backed Revolving Credit Facility [Member] | Minimum [Member] | |||||||
Line of Credit Facility, Step Down Excess Availability, Percent | 0.25% | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||||||
Average Excess Availability, Tranche Two [Member] | Asset Backed Revolving Credit Facility [Member] | Maximum [Member] | |||||||
Line of Credit Facility, Step Down Excess Availability, Percent | 0.50% | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% |
Note 9 - Long Term Debt and Rev
Note 9 - Long Term Debt and Revolving Lines of Credit - Long-term Debt (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Long term portion of term loan | $ 369,084 | $ 343,906 |
Total debt, gross | 375,000 | 381,205 |
Less unamortized deferred financing costs offsetting long term debt | (5,916) | (16,411) |
Total debt, net of unamortized deferred financing costs | 369,084 | 364,794 |
Term Loan [Member] | ||
Short term portion of term loan | 0 | 20,888 |
Long term portion of term loan | 0 | 360,317 |
Senior Secured Notes [Member] | ||
Long term portion of term loan | 375,000 | $ 0 |
Total debt, gross | 375,000 | |
Total debt, net of unamortized deferred financing costs | $ 375,000 |
Note 9 - Long Term Debt and R_2
Note 9 - Long Term Debt and Revolving Lines of Credit - Schedule of Future Maturities (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Total | $ 375,000 | $ 381,205 |
Senior Secured Notes [Member] | ||
2022 | 0 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
2026 | 375,000 | |
Total | $ 375,000 |
Note 10 - Accrued Payroll and_3
Note 10 - Accrued Payroll and Payroll Expenses - Accrued Payroll and Expenses (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Accrued vacation | $ 1,967 | $ 1,667 |
Accrued payroll | 1,727 | 1,507 |
Accrued bonus | 3,593 | 4,752 |
Accrued employee-related taxes | 4,606 | 4,819 |
Other accrued | 333 | 320 |
Total accrued payroll and payroll expenses | $ 12,226 | $ 13,065 |
Note 11 - Accrued Expenses an_3
Note 11 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Accrued insurance | $ 7,473 | $ 7,806 |
Accrued interest | 5,627 | 146 |
Accrued equipment purchases | 4,955 | 4,149 |
Accrued sales and use tax | 690 | 311 |
Accrued property taxes | 917 | 882 |
Accrued professional fees | 1,134 | 1,213 |
Accrued due to related party | 0 | 1,765 |
Other | 3,144 | 2,607 |
Total accrued expenses and other liabilities | $ 23,940 | $ 18,879 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Apr. 01, 2023 | Mar. 31, 2020 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2021 | Oct. 31, 2020 | Mar. 31, 2023 | Oct. 31, 2021 | Oct. 31, 2017 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Income Taxes Paid, Net, Total | $ 994 | $ 3,352 | $ 4,300 | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 34.00% | ||||||
Net Estimated Financial Impact of Net Operating Losses Write-up | $ 600 | ||||||||
General and Administrative Expense [Member] | |||||||||
Settlement of Tax Refunds from Net Operating Loss Carryforwards | $ 2,000 | 2,000 | |||||||
Foreign Tax Authority [Member] | |||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 2,125 | 859 | |||||||
Domestic Tax Authority [Member] | |||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 0 | (1,381) | |||||||
Her Majesty's Revenue and Customs (HMRC) [Member] | Foreign Tax Authority [Member] | |||||||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | 17.00% | 19.00% | |||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 2,200 | $ 900 | |||||||
Her Majesty's Revenue and Customs (HMRC) [Member] | Forecast [Member] | Foreign Tax Authority [Member] | |||||||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | 25.00% | 19.00% |
Note 12 - Income Taxes - Source
Note 12 - Income Taxes - Sources of Income before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Income before income taxes | $ (12,431) | $ (66,228) |
UNITED STATES | ||
Income before income taxes | (13,162) | (49,688) |
Foreign [Member] | ||
Income before income taxes | $ 731 | $ (16,540) |
Note 12 - Income Taxes - Provis
Note 12 - Income Taxes - Provision of Income Tax Components (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Current tax provision (benefit): | ||
Federal | $ 0 | $ (4,299) |
Foreign | (375) | (9) |
State and local | 470 | 361 |
Total current tax provision (benefit) | 95 | (3,947) |
Deferred tax provision (benefit): | ||
Federal | 483 | 759 |
Foreign | 2,134 | 126 |
State and local | (70) | (1,914) |
Total deferred tax benefit | 2,547 | (1,029) |
Net provision (benefit) for income taxes | $ 2,642 | $ (4,977) |
Note 12 - Income Taxes - Effect
Note 12 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Income tax benefit per federal statutory rate of 21% for each period | $ (2,611) | $ (13,967) |
State income taxes, net of federal deduction | 193 | (150) |
Change in deferred tax rate | (92) | (1,654) |
Warrant fair value change | 2,078 | 55 |
Nontaxable interest income net of foreign income inclusions | 0 | 717 |
Deferred tax on undistributed foreign earnings | 505 | (255) |
Goodwill impairment | 0 | 9,812 |
Settlement with related party | 0 | 420 |
Other | 444 | 567 |
Net provision (benefit) for income taxes | 2,642 | (4,977) |
Foreign Tax Authority [Member] | ||
Impact of tax reform | 2,125 | 859 |
Domestic Tax Authority [Member] | ||
Impact of tax reform | $ 0 | $ (1,381) |
Note 12 - Income Taxes - Effe_2
Note 12 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) (Parentheticals) | 12 Months Ended | 24 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2017 | |
Federal Statutory Income Tax Rate | 21.00% | 21.00% | 34.00% |
Note 12 - Income Taxes - Net De
Note 12 - Income Taxes - Net Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Deferred tax assets: | ||
Accrued insurance reserve | $ 1,329 | $ 1,637 |
Accrued sales and use tax | 75 | 75 |
Accrued bonuses and vacation | 1,276 | 1,521 |
Accrued payroll tax | 675 | 676 |
Foreign tax credit carryforward | 80 | 80 |
State tax credit carryforward | 50 | 70 |
Interest expense carryforward | 649 | 4,089 |
Stock-based compensation | 3,608 | 3,127 |
Other | 364 | 335 |
Net operating loss carryforward | 17,771 | 10,308 |
Total deferred tax assets | 25,877 | 21,918 |
Valuation allowance | (63) | (63) |
Net deferred tax assets | 25,814 | 21,855 |
Deferred tax liabilities: | ||
Intangible assets | (23,837) | (27,504) |
Property and equipment | (71,400) | (61,761) |
Prepaid expenses | (157) | (128) |
Unremitted foreign earnings | (986) | (481) |
Total net deferred tax liabilities | (96,380) | (89,874) |
Net deferred tax liabilities | $ (70,566) | $ (68,019) |
Note 12 - Income Taxes - Tax Ca
Note 12 - Income Taxes - Tax Carryforwards (Details) | Oct. 31, 2021USD ($) |
Interest expense carryforwards | $ 100,000 |
Total tax carryforwards | 106,400,000 |
Domestic Tax Authority [Member] | |
Operating loss carryforward | 70,300,000 |
State and Local Jurisdiction [Member] | |
Operating loss carryforward | 35,800,000 |
Tax carryforwards | 100,000 |
State and Local Jurisdiction [Member] | Expiration 2026 [Member] | |
Operating loss carryforward | 2,026 |
State and Local Jurisdiction [Member] | Expiration 2023 [Member] | |
Tax carryforwards | 2,023 |
Foreign Tax Authority [Member] | |
Tax carryforwards | 100,000 |
Foreign Tax Authority [Member] | Expiration 2026 [Member] | |
Tax carryforwards | $ 2,026 |
Note 12 - Income Taxes - Change
Note 12 - Income Taxes - Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Balance, beginning of year | $ 1,572 | $ 1,726 |
Increase in current year position | 0 | 0 |
Increase in prior year position | 0 | 0 |
Decrease in prior year position | (120) | (154) |
Lapse in statute of limitations | 0 | 0 |
Balance, end of year | $ 1,452 | $ 1,572 |
Note 13 - Commitments and Con_3
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Operating Leases, Rent Expense, Net, Total | $ 4,400,000 | $ 4,400,000 |
Letters of Credit Outstanding, Amount | 2,300,000 | |
Standby Letters of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 7,500,000 | |
Bank Account to Facilitate Administration of Claims [Member] | ||
Restricted Cash, Total | 300,000 | |
Accrued Liabilities and Other Liabilities [Member] | ||
Self-insurance, Accrued Expenses for Claims Incurred But Not Reported and Estimated Losses Reported | 4,500,000 | 5,400,000 |
Self-insurance, Accrued Expenses for Health Claims Incurred But Not Reoprted | 1,600,000 | 2,400,000 |
Capital Leases for Land and Buildings [member] | ||
Capital Lease Obligations, Total | 400,000 | $ 500,000 |
Minimum [Member] | ||
Operating Leases, Monthly Rent Payment | 25 | |
Maximum [Member] | ||
Operating Leases, Monthly Rent Payment | $ 26,144 |
Note 13 - Commitments and Con_4
Note 13 - Commitments and Contingencies - Future Minimum Lease Payments of Operating Leases (Details) $ in Thousands | Oct. 31, 2021USD ($) |
2022 | $ 3,514 |
2023 | 2,202 |
2024 | 1,396 |
2025 | 654 |
2026 | 491 |
Thereafter | 960 |
Total | $ 9,217 |
Note 13 - Commitments and Con_5
Note 13 - Commitments and Contingencies - Future Payments of Capital Lease Obligations (Details) $ in Thousands | Oct. 31, 2021USD ($) |
2022 | $ 115 |
2023 | 118 |
2024 | 120 |
2025 | 61 |
2026 | 0 |
Thereafter | 0 |
Total minimum lease payments | 414 |
Less the amount representing interest | (33) |
Present value of minimum lease payments | $ 381 |
Note 13 - Commitments and Con_6
Note 13 - Commitments and Contingencies - Deductibles for General and Worker's Compensation Liability (Details) | Oct. 31, 2021USD ($) |
General liability | $ 350,000 |
Automobile | 250,000 |
Workers' compensation | $ 250,000 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Details Textual) | Jun. 06, 2019USD ($)$ / shares | May 14, 2019USD ($)$ / sharesshares | Apr. 29, 2019USD ($)shares | Apr. 01, 2019 | Dec. 06, 2018$ / sharesshares | Jan. 31, 2021USD ($) | Oct. 31, 2021USD ($)$ / sharesshares | Oct. 31, 2020$ / sharesshares |
Common Stock, Shares Authorized (in shares) | 500,000,000 | 500,000,000 | 500,000,000 | |||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | |||||||
Common Stock, Shares, Issued, Total (in shares) | 28,847,707 | 56,564,642 | 56,463,992 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 34,100,000 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 11.50 | $ 11.50 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 2,450,980 | |||||||
Convertible Preferred Stock, Redemption, Principal Investment | $ | $ 25,000,000 | |||||||
Convertible Preferred Stock, Additional Cumulative Amount, Accrue Annual Rate | 7.00% | |||||||
Convertible Preferred Stock, Additional Cumulative Amount | $ | $ 5,300,000 | |||||||
Convertible Preferred Stock, Convertible, Stock Price Trigger (in dollars per share) | $ / shares | $ 13 | |||||||
Debt Instrument, Consecutive Period (Day) | 30 days | |||||||
Par Value of Warrant in APIC | $ | $ 26,300,000 | |||||||
Public Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 18,098,166 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 4.50 | |||||||
Proceeds from Issuance of Common Stock | $ | $ 77,400,000 | |||||||
Public Offering [Member] | Directors, Officers, Stockholders [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,980,166 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 4.50 | |||||||
Percentage of Shares Issued | 25.00% | |||||||
Public Warrants [Member] | ||||||||
Number of Shares Issued in Exchange for Warrants (in shares) | 2,101,213 | |||||||
Class of Warrant or Right, Outstanding (in shares) | 13,017,777 | 13,017,777 | ||||||
Warrant Exchange for Common Stock, Exchange Ratio | 0.2105 | |||||||
Class of Warrant or Right, Exchanged During Period (in shares) | 9,982,123 | |||||||
Private Warrants [Member] | ||||||||
Number of Shares Issued in Exchange for Warrants (in shares) | 1,707,175 | |||||||
Class of Warrant or Right, Outstanding (in shares) | 0 | 0 | ||||||
Warrant Exchange for Common Stock, Exchange Ratio | 0.1538 | |||||||
Class of Warrant or Right, Exchanged During Period (in shares) | 11,100,000 | |||||||
Series A Preferred Stock [Member] | ||||||||
Preferred Stock, Dividend Rate, Percentage | 0.00% | |||||||
Dividends, Preferred Stock, Total | $ | $ 0 | |||||||
Preferred Stock, Convertible, Conversion Ratio | 1 |
Note 15 - Stock-based Compens_3
Note 15 - Stock-based Compensation (Details Textual) $ / shares in Units, $ in Thousands | Dec. 06, 2020shares | Oct. 29, 2020USD ($)$ / sharesshares | Oct. 31, 2021USD ($)$ / sharesshares | Oct. 31, 2020USD ($)$ / shares | Oct. 31, 2019$ / shares |
Equivalent Vested Options Rolled Forward from Predecessor to Successor (in shares) | shares | 2,783,479 | ||||
Share-based Payment Arrangement, Plan Modification, Incremental Cost | $ | $ 5,900 | $ 0 | |||
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ 0.87 | ||||
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | 6.09 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 1.63 | $ 1.54 | $ 1.33 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 9,859,764 | ||||
Share-based Payment Arrangement, Exercise of Option, Tax Benefit | $ | $ 1,800 | ||||
Share-based Payment Arrangement, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | 13 | ||||
Share-based Payment Arrangement, Tranche Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | 16 | ||||
Share-based Payment Arrangement, Tranche Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | $ 19 | ||||
Time Based Only [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||||
Time Based Only [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Time Based Only [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||||
The $13 Market/Time- Based [Member] | Closing Price of $13.00 for 30 Consecutive Days [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||
The $16 Market/Time- Based [Member] | Closing Price of $16.00 for 30 Consecutive Days [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||
The $19 Market/Time- Based [Member] | Closing Price of $19.00 for 30 Consecutive Days [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||
The 113 Awards Modified [Member] | |||||
Share-based Payment Arrangement, Plan Modification, Number of Grantees Affected | 113 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Exchange Ratio (in shares) | shares | 2 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Exchanged (in shares) | shares | 3,816,450 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued upon Exchange (in shares) | shares | 1,908,165 | ||||
The 113 Awards Modified [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | $ 6 | ||||
The 113 Awards Modified [Member] | Share-based Payment Arrangement, Tranche Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | 8 | ||||
The 113 Awards Modified [Member] | Share-based Payment Arrangement, Tranche Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | $ 10 | ||||
The 18 Awards Modified [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Payment Arrangement, Plan Modification, Number of Grantees Affected | 18 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Modified (in shares) | shares | 1,381,426 | ||||
The 18 Awards Modified [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 46.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Vested (in shares) | shares | 635,455 | ||||
The 18 Awards Modified [Member] | Vest Ratably 1/3 Each Year on December 6, 2021, 2022 and 2023 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 15.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Modified (in shares) | shares | 207,215 | ||||
The 18 Awards Modified [Member] | Vest Based on Reduced Price Vesting Targets of $6.00 per Share, $8.00 per Share or $10.00 per Share [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 39.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Modified (in shares) | shares | 538,756 | ||||
The $6 Market/Time- Based [Member] | Closing Price of $6.00 for 30 Consecutive Trading Days [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | $ 6 | ||||
The $8 Market/Time- Based [Member] | Closing Price of $8.00 for 30 Consecutive Trading Days [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | $ 8 | ||||
The $10 Market/Time- Based [Member] | Closing Price of $10.00 for 30 Consecutive Trading Days [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Price Target (in dollars per share) | $ 10 | ||||
Restricted Stock [Member] | |||||
Share-based Payment Arrangement, Expense | $ | $ 5,800 | $ 9,800 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 8,700 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | ||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ | $ 700 | 300 | |||
Share-based Payment Arrangement, Option [Member] | |||||
Share-based Payment Arrangement, Expense | $ | 800 | $ 1,600 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 1,200 | ||||
Market Based Award [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Granted (in shares) | shares | 99,812 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 73.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.50% | ||||
The 2018 Omnibus Incentive Plan [Member] | UNITED KINGDOM | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 0.01 |
Note 15 - Stock-based Compens_4
Note 15 - Stock-based Compensation - Summary of Awards Granted (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Oct. 31, 2021USD ($)$ / sharesshares | ||
Shares Unvested (in shares) | 3,541,371 | |
Unrecognized Compensation Expense | $ | $ 9,859,764 | |
UNITED STATES | Award 1 [Member] | ||
Type of Award | Time Based Only | |
Shares Unvested (in shares) | 875,632 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.56 | |
Unrecognized Compensation Expense | $ | $ 3,228,912 | |
UNITED STATES | Award 2 [Member] | ||
Type of Award | 6 Market/Time- Based | |
Shares Unvested (in shares) | 150,697 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.86 | |
UNITED STATES | Award 3 [Member] | ||
Type of Award | 6 Market/Time- Based | [1] |
Shares Unvested (in shares) | 191,902 | [1] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 8.65 | [1] |
Unrecognized Compensation Expense | $ | $ 273,110 | [1] |
UNITED STATES | Award 4 [Member] | ||
Type of Award | 6 Market/Time- Based | [1] |
Shares Unvested (in shares) | 191,902 | [1] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 8.65 | [1] |
Unrecognized Compensation Expense | $ | $ 630,290 | [1] |
UNITED STATES | Award 5 [Member] | ||
Type of Award | 6 Market/Time- Based | [1] |
Shares Unvested (in shares) | 191,913 | [1] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 8.65 | [1] |
Unrecognized Compensation Expense | $ | $ 833,930 | [1] |
UNITED STATES | Award 6 [Member] | ||
Type of Award | 8 Market/Time- Based | |
Shares Unvested (in shares) | 150,697 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.46 | |
UNITED STATES | Award 7 [Member] | ||
Type of Award | 8 Market/Time- Based | [2] |
Shares Unvested (in shares) | 191,903 | [2] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.45 | [2] |
Unrecognized Compensation Expense | $ | $ 423,243 | [2] |
UNITED STATES | Award 8 [Member] | ||
Type of Award | 8 Market/Time- Based | [2] |
Shares Unvested (in shares) | 191,903 | [2] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.45 | [2] |
Unrecognized Compensation Expense | $ | $ 641,359 | [2] |
UNITED STATES | Award 10 [Member] | ||
Type of Award | 8 Market/Time- Based | [2] |
Shares Unvested (in shares) | 191,912 | [2] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.45 | [2] |
Unrecognized Compensation Expense | $ | $ 780,270 | [2] |
UNITED STATES | Award 11 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 150,706 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.15 | |
Unrecognized Compensation Expense | $ | $ 0 | |
UNITED STATES | Award 12 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 191,471 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.46 | |
Unrecognized Compensation Expense | $ | $ 444,144 | |
UNITED STATES | Award 13 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 191,467 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.46 | |
Unrecognized Compensation Expense | $ | $ 599,208 | |
UNITED STATES | Award 14 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 191,482 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.46 | |
Unrecognized Compensation Expense | $ | $ 704,994 | |
UNITED STATES | Award 15 [Member] | ||
Type of Award | 13 Market/Time- Based | |
Shares Unvested (in shares) | 433 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 4.47 | |
Unrecognized Compensation Expense | $ | $ 317 | |
UNITED STATES | Award 16 [Member] | ||
Type of Award | 13 Market/Time- Based | |
Shares Unvested (in shares) | 433 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 4.47 | |
Unrecognized Compensation Expense | $ | $ 714 | |
UNITED STATES | Award 17 [Member] | ||
Type of Award | 13 Market/Time- Based | |
Shares Unvested (in shares) | 434 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 4.47 | |
Unrecognized Compensation Expense | $ | $ 957 | |
UNITED STATES | Award 18 [Member] | ||
Type of Award | 16 Market/Time- Based | |
Shares Unvested (in shares) | 433 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.85 | |
Unrecognized Compensation Expense | $ | $ 403 | |
UNITED STATES | Award 19 [Member] | ||
Type of Award | 16 Market/Time- Based | |
Shares Unvested (in shares) | 433 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.85 | |
Unrecognized Compensation Expense | $ | $ 691 | |
UNITED STATES | Award 20 [Member] | ||
Type of Award | 16 Market/Time- Based | |
Shares Unvested (in shares) | 434 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.85 | |
Unrecognized Compensation Expense | $ | $ 874 | |
UNITED STATES | Award 21 [Member] | ||
Type of Award | 19 Market/Time- Based | |
Shares Unvested (in shares) | 433 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.34 | |
Unrecognized Compensation Expense | $ | $ 420 | |
UNITED STATES | Award 22 [Member] | ||
Type of Award | 19 Market/Time- Based | |
Shares Unvested (in shares) | 433 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.34 | |
Unrecognized Compensation Expense | $ | $ 642 | |
UNITED STATES | Award 23 [Member] | ||
Type of Award | 19 Market/Time- Based | |
Shares Unvested (in shares) | 434 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.34 | |
Unrecognized Compensation Expense | $ | $ 787 | |
UNITED STATES | Award 24 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 4,635 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.28 | |
Unrecognized Compensation Expense | $ | $ 29,202 | |
UNITED STATES | Award 25 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 4,635 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.28 | |
Unrecognized Compensation Expense | $ | $ 31,061 | |
UNITED STATES | Award 26 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 4,634 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.28 | |
Unrecognized Compensation Expense | $ | $ 31,831 | |
UNITED KINGDOM | Award 27 [Member] | ||
Type of Award | Time Based Only | |
Shares Unvested (in shares) | 132,259 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.52 | |
Unrecognized Compensation Expense | $ | $ 443,536 | |
UNITED KINGDOM | Award 28 [Member] | ||
Type of Award | 6 Market/Time- Based | |
Shares Unvested (in shares) | 28,885 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.85 | |
Unrecognized Compensation Expense | $ | $ 0 | |
UNITED KINGDOM | Award 29 [Member] | ||
Type of Award | 6 Market/Time- Based | |
Shares Unvested (in shares) | 27,892 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 8.36 | |
Unrecognized Compensation Expense | $ | $ 39,250 | |
UNITED KINGDOM | Award 30 [Member] | ||
Type of Award | 6 Market/Time- Based | |
Shares Unvested (in shares) | 27,892 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 8.36 | |
Unrecognized Compensation Expense | $ | $ 89,849 | |
UNITED KINGDOM | Award 31 [Member] | ||
Type of Award | 6 Market/Time- Based | |
Shares Unvested (in shares) | 27,901 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 8.36 | |
Unrecognized Compensation Expense | $ | $ 118,514 | |
UNITED KINGDOM | Award 32 [Member] | ||
Type of Award | 8 Market/Time- Based | |
Shares Unvested (in shares) | 28,885 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.45 | |
Unrecognized Compensation Expense | $ | $ 0 | |
UNITED KINGDOM | Award 33 [Member] | ||
Type of Award | 8 Market/Time- Based | [2] |
Shares Unvested (in shares) | 27,892 | [2] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.20 | [2] |
Unrecognized Compensation Expense | $ | $ 60,581 | [2] |
UNITED KINGDOM | Award 34 [Member] | ||
Type of Award | 8 Market/Time- Based | [2] |
Shares Unvested (in shares) | 27,892 | [2] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.20 | [2] |
Unrecognized Compensation Expense | $ | $ 91,259 | [2] |
UNITED KINGDOM | Award 35 [Member] | ||
Type of Award | 8 Market/Time- Based | [2] |
Shares Unvested (in shares) | 27,901 | [2] |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 7.20 | [2] |
Unrecognized Compensation Expense | $ | $ 110,756 | [2] |
UNITED KINGDOM | Award 36 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 28,886 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 3.14 | |
Unrecognized Compensation Expense | $ | $ 0 | |
UNITED KINGDOM | Award 37 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 27,902 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.24 | |
Unrecognized Compensation Expense | $ | $ 63,479 | |
UNITED KINGDOM | Award 38 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 27,892 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.24 | |
Unrecognized Compensation Expense | $ | $ 85,174 | |
UNITED KINGDOM | Award 39 [Member] | ||
Type of Award | 10 Market/Time- Based | |
Shares Unvested (in shares) | 27,901 | |
Weighted Average Fair Value (in dollars per share) | $ / shares | $ 6.24 | |
Unrecognized Compensation Expense | $ | $ 100,005 | |
[1] | The $6.00 market condition price target was achieved on March 29, 2021, and on such date, the remaining unrecognized expense for these awards will be accelerated over the new requisite service period. | |
[2] | The $8.00 market condition price target was achieved on August 23, 2021, and on such date, the remaining unrecognized expense for these awards will be accelerated over the new requisite service period. |
Note 15 - Stock-based Compens_5
Note 15 - Stock-based Compensation - Summarize Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Options outstanding, Number (in shares) | 1,791,316 | 2,069,398 |
Outstanding stock options, Weighted average grant date fair value (in dollars per share) | $ 6.80 | $ 5.81 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 1.54 | $ 1.33 |
Granted, Number (in shares) | 30,000 | 7,250 |
Granted, Weighted average grant date fair value (in dollars per share) | $ 2.48 | $ 4.58 |
Granted, Weighted average exercise price (in dollars per share) | $ 0.01 | $ 0.01 |
Forfeited, Number (in shares) | (3,807) | (25,888) |
Forfeited, Weighted average grant date fair value (in dollars per share) | $ 7.46 | $ 4.47 |
Forfeited, Weighted average exercise price (in dollars per share) | $ 0.01 | $ 0.01 |
Exercised, Number (in shares) | (133,316) | (27,660) |
Exercised, Weighted average grant date fair value (in dollars per share) | $ 5.24 | $ 6.67 |
Exercised, Weighted average exercise price (in dollars per share) | $ 0.01 | $ 0.01 |
Expired, Number (in shares) | (500) | |
Expired, Weighted average grant date fair value (in dollars per share) | $ 6.67 | |
Expired, Weighted average exercise price (in dollars per share) | $ 0.01 | |
Modified, Number (in shares) | (231,284) | |
Modified, Weighted average grant date fair value (in dollars per share) | $ 5.04 | |
Modified, Weighted average exercise price (in dollars per share) | $ 0.01 | |
Options outstanding, Number (in shares) | 1,684,193 | 1,791,316 |
Outstanding stock options, Weighted average grant date fair value (in dollars per share) | $ 6.85 | $ 6.80 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 1.63 | $ 1.54 |
Note 15 - Stock-based Compens_6
Note 15 - Stock-based Compensation - Options Outstanding and Exercisable (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2019 | |
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 1.63 | $ 1.54 | $ 1.33 |
Options Outstanding, Number of options (in shares) | 1,684,193 | 1,791,316 | 2,069,398 |
Options Outstanding, Aggregate Intrinsic Value | $ 10,921 | ||
Options Exercisable, Number of options (in shares) | 1,214,213 | ||
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 2.26 | ||
Options Exercisable, Weighted average remaining contractual life (Year) | 3 years 7 months 6 days | ||
Options Exercisable, Aggregate Intrinsic Value | $ 6,884 | ||
Exercise Price Range One [Member] | |||
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 0.01 | ||
Options Outstanding, Number of options (in shares) | 473,738 | ||
Options Outstanding, Weighted-average remaining contractual life (Year) | 8 years 8 months 12 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 4,069 | ||
Options Exercisable, Number of options (in shares) | 3,758 | ||
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 0.01 | ||
Options Exercisable, Weighted average remaining contractual life (Year) | 7 years 4 months 24 days | ||
Options Exercisable, Aggregate Intrinsic Value | $ 32 | ||
Exercise Price Range Two [Member] | |||
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 0.87 | ||
Options Outstanding, Number of options (in shares) | 886,382 | ||
Options Outstanding, Weighted-average remaining contractual life (Year) | 3 years 3 months 18 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 6,852 | ||
Options Exercisable, Number of options (in shares) | 886,382 | ||
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 0.87 | ||
Options Exercisable, Weighted average remaining contractual life (Year) | 3 years 3 months 18 days | ||
Options Exercisable, Aggregate Intrinsic Value | $ 6,852 | ||
Exercise Price Range Three [Member] | |||
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 6.09 | ||
Options Outstanding, Number of options (in shares) | 324,073 | ||
Options Outstanding, Weighted-average remaining contractual life (Year) | 4 years 4 months 24 days | ||
Options Exercisable, Number of options (in shares) | 324,073 | ||
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 6.09 | ||
Options Exercisable, Weighted average remaining contractual life (Year) | 4 years 4 months 24 days |
Note 15 - Stock-based Compens_7
Note 15 - Stock-based Compensation - Restricted Stock Awards Activity (Details) - $ / shares | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Unvested, number of units (in shares) | 3,541,371 | |
Restricted Stock [Member] | ||
Unvested, number of units (in shares) | 3,737,791 | 5,755,459 |
Unvested, weighted average grant-date fair value (in dollars per share) | $ 5.39 | $ 4.44 |
Granted, weighted average grant-date fair value (in dollars per share) | $ 3.80 | $ 0 |
Vested, number of units (in shares) | (757,215) | (229,011) |
Vested, weighted average grant-date fair value (in dollars per share) | $ 5.34 | $ 6.61 |
Forfeited, number of units (in shares) | (21,534) | (111,656) |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ 5 | $ 4.49 |
Modified, number of units (in shares) | (1,677,001) | |
Modified, weighted average grant-date fair value (in dollars per share) | $ 3.89 | |
Granted, number of units (in shares) | 112,349 | |
Unvested, number of units (in shares) | 3,071,391 | 3,737,791 |
Unvested, weighted average grant-date fair value (in dollars per share) | $ 4.98 | $ 5.39 |
Note 16 - Earnings Per Share (D
Note 16 - Earnings Per Share (Details Textual) - $ / shares shares in Millions | 12 Months Ended | |
Oct. 31, 2021 | Dec. 06, 2018 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.50 | $ 11.50 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 13 | |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 3.1 | |
Vested Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1.2 | |
Unvested Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0.5 | |
Series A Preferred Stocks [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2.5 |
Note 16 - Earnings Per Share -
Note 16 - Earnings Per Share - Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Net loss | $ (15,073) | $ (61,251) |
Less accretion of liquidation preference on preferred stock | (1,750) | (1,930) |
Net loss attributable to common stockholders (numerator for basic earnings per share) | (16,823) | (63,181) |
Numerator for diluted loss per share | $ (16,823) | $ (63,181) |
Weighted average shares - basic (in shares) | 53,413,594 | 52,752,884 |
Weighted average shares - diluted (in shares) | 53,413,594 | 52,752,884 |
Basic loss per share (in dollars per share) | $ (0.31) | $ (1.20) |
Diluted loss per share (in dollars per share) | $ (0.31) | $ (1.20) |
Note 17 - Employee Benefits P_3
Note 17 - Employee Benefits Plan (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0.9 | $ 1 |
Camfaud [Member] | Small Self-Administered Scheme [Member] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0.3 | $ 0.3 |
Note 17 - Employee Benefits P_4
Note 17 - Employee Benefits Plan - Summary of Contributions to Multiemployer Pension Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
California | $ 1,489 | $ 1,259 |
Retirement Plan Contribution in California [Member] | ||
California | 901 | 685 |
Retirement Plan Contribution in Oregon [Member] | ||
California | 308 | 301 |
Retirement Plan Contribution in Washington [Member] | ||
California | $ 279 | $ 273 |
Note 18 - Segment Reporting (De
Note 18 - Segment Reporting (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Goodwill and Intangible Asset Impairment, Total | $ 0 | $ 57,944 |
Operating Segments [Member] | US Concrete Pumping [Member] | ||
Goodwill and Intangible Asset Impairment, Total | 43,500 | |
Operating Segments [Member] | UK Concrete Pumping [Member] | ||
Goodwill and Intangible Asset Impairment, Total | $ 14,400 |
Note 18 - Segment Reporting - O
Note 18 - Segment Reporting - Operating Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | ||
Revenue | $ 315,808 | $ 304,301 | |
Income (loss) before income taxes | (12,431) | (66,228) | |
EBITDA | 68,665 | 29,835 | |
Net loss | (15,073) | (61,251) | |
Interest expense, net | 25,190 | 34,408 | |
Net provision (benefit) for income taxes | 2,642 | (4,977) | |
Depreciation and amortization | 55,906 | 61,655 | |
Interest expense, net | (25,190) | (34,408) | |
Transaction costs | 15,822 | 0 | |
Operating Segments [Member] | US Concrete Pumping [Member] | |||
Revenue | 229,475 | 229,740 | |
Income (loss) before income taxes | (11,915) | (56,095) | |
EBITDA | [1] | 47,497 | 17,074 |
Interest expense, net | 22,031 | 31,452 | |
Depreciation and amortization | 37,381 | 41,717 | |
Interest expense, net | (22,031) | (31,452) | |
Operating Segments [Member] | UK Concrete Pumping [Member] | |||
Revenue | 48,098 | 39,145 | |
Income (loss) before income taxes | 731 | (16,540) | |
Interest expense, net | 3,159 | 2,955 | |
Depreciation and amortization | 8,238 | 8,422 | |
Interest expense, net | (3,159) | (2,955) | |
Transaction costs | 15,822 | 0 | |
Operating Segments [Member] | US Concrete Waste Management Services [Member] | |||
Revenue | 38,591 | 35,890 | |
Income (loss) before income taxes | 6,986 | 4,997 | |
EBITDA | 16,433 | 15,684 | |
Interest expense, net | 0 | 0 | |
Depreciation and amortization | 9,447 | 10,687 | |
Interest expense, net | 0 | 0 | |
Operating Segments [Member] | UK Operations [Member] | |||
EBITDA | [1] | 12,128 | (5,163) |
Corporate, Non-Segment [Member] | |||
Revenue | 2,500 | 2,500 | |
Income (loss) before income taxes | (8,233) | 1,410 | |
EBITDA | (7,393) | 2,240 | |
Interest expense, net | 0 | 1 | |
Depreciation and amortization | 840 | 829 | |
Interest expense, net | 0 | (1) | |
Intersegment Eliminations [Member] | |||
Revenue | $ (2,856) | $ (2,974) | |
[1] | The U.S. Concrete Pumping segment’s EBITDA for the year ended October 31, 2020 includes the impact of $43.5 million in goodwill and intangibles impairment while the U.K. Concrete Pumping segment’s EBITDA for the year ended October 31, 2020 includes the impact of $14.4 million in goodwill and intangibles impairment. |
Note 18 - Segment Reporting - T
Note 18 - Segment Reporting - Total Assets by Segment (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Oct. 31, 2020 |
Total assets | $ 792,665 | $ 773,758 |
Operating Segments [Member] | US Concrete Pumping [Member] | ||
Total assets | 591,820 | 570,536 |
Operating Segments [Member] | UK Concrete Pumping [Member] | ||
Total assets | 109,631 | 109,726 |
Operating Segments [Member] | US Concrete Waste Management Services [Member] | ||
Total assets | 145,199 | 140,209 |
Corporate, Non-Segment [Member] | ||
Total assets | 26,648 | 25,517 |
Intersegment Eliminations [Member] | ||
Total assets | $ (80,633) | $ (72,230) |
Note 18 - Segment Reporting - R
Note 18 - Segment Reporting - Revenue and Long-Lived Assets by Geographical Areas (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Revenue | $ 315,808 | $ 304,301 |
Long Lived Assets | 337,771 | 304,254 |
UNITED STATES | ||
Revenue | 267,710 | 265,156 |
Long Lived Assets | 285,307 | 260,693 |
UNITED KINGDOM | ||
Revenue | 48,098 | 39,145 |
Long Lived Assets | $ 52,464 | $ 43,561 |
Note 19 - Related Party Trans_2
Note 19 - Related Party Transaction (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Oct. 31, 2020 | |
General and Administrative Expense [Member] | ||
Settlement of Tax Refunds from Net Operating Loss Carryforwards | $ 2 | $ 2 |
Note 20 - Subsequent Events (De
Note 20 - Subsequent Events (Details Textual) $ in Millions | Nov. 01, 2021USD ($) |
Subsequent Event [Member] | Pioneer Concrete Pumping Service [Member] | |
Payments to Acquire Businesses, Gross | $ 20.1 |