Note 13 - Income Taxes (Tables)
|
12 Months Ended |
Oct. 31, 2023 |
|---|
| Notes Tables |
|
| Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] |
| (in thousands) |
|
Year Ended October 31, 2023 |
|
|
Year Ended October 31, 2022 |
|
| United States |
|
$ |
35,650 |
|
|
$ |
32,252 |
|
| Foreign |
|
|
4,912 |
|
|
|
1,950 |
|
| Total |
|
$ |
40,562 |
|
|
$ |
34,202 |
|
|
| Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| (in thousands) |
|
Year Ended October 31, 2023 |
|
|
Year Ended October 31, 2022 |
|
| Current tax provision (benefit): |
|
|
|
|
|
|
|
|
| Federal |
|
$ |
1,945 |
|
|
$ |
- |
|
| Foreign |
|
|
- |
|
|
|
(113 |
) |
| State and local |
|
|
690 |
|
|
|
434 |
|
| Total current tax provision |
|
$ |
2,635 |
|
|
$ |
321 |
|
| |
|
|
|
|
|
|
|
|
| Deferred tax provision (benefit): |
|
|
|
|
|
|
|
|
| Federal |
|
$ |
4,567 |
|
|
$ |
4,575 |
|
| Foreign |
|
|
753 |
|
|
|
70 |
|
| State and local |
|
|
817 |
|
|
|
560 |
|
| Total deferred tax benefit |
|
$ |
6,137 |
|
|
$ |
5,205 |
|
| |
|
|
|
|
|
|
|
|
| Net provision for income taxes |
|
$ |
8,772 |
|
|
$ |
5,526 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| (in thousands) |
|
Year Ended October 31, 2023 |
|
|
Year Ended October 31, 2022 |
|
| Income tax expense per federal statutory rate of 21% for each period |
|
$ |
8,517 |
|
|
$ |
7,182 |
|
| State income taxes, net of federal deduction |
|
|
1,196 |
|
|
|
898 |
|
| Change in deferred tax rate |
|
|
(280 |
) |
|
|
81 |
|
| Warrant fair value change |
|
|
(1,449 |
) |
|
|
(2,078 |
) |
| Deferred tax on undistributed foreign earnings |
|
|
- |
|
|
|
(827 |
) |
| Increase in valuation allowance |
|
|
14 |
|
|
|
71 |
|
| Other |
|
|
774 |
|
|
|
199 |
|
| Income tax provision |
|
$ |
8,772 |
|
|
$ |
5,526 |
|
|
| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| (in thousands) |
|
Year Ended October 31, 2023 |
|
|
Year Ended October 31, 2022 |
|
| Deferred tax assets: |
|
|
|
|
|
|
|
|
| Accrued insurance reserve |
|
$ |
1,865 |
|
|
$ |
2,385 |
|
| Accrued sales and use tax |
|
|
72 |
|
|
|
75 |
|
| Accrued bonuses and vacation |
|
|
1,855 |
|
|
|
1,737 |
|
| Accrued payroll tax |
|
|
281 |
|
|
|
445 |
|
| Foreign tax credit carryforward |
|
|
80 |
|
|
|
80 |
|
| State tax credit carryforward |
|
|
52 |
|
|
|
38 |
|
| Interest expense carryforward |
|
|
1,241 |
|
|
|
576 |
|
| Stock-based compensation |
|
|
2,490 |
|
|
|
3,105 |
|
| Operating lease liability |
|
|
6,109 |
|
|
|
6,315 |
|
| Other |
|
|
209 |
|
|
|
400 |
|
| Net operating loss carryforward |
|
|
18,596 |
|
|
|
25,894 |
|
| Total deferred tax assets |
|
$ |
32,850 |
|
|
$ |
41,050 |
|
| Valuation allowance |
|
|
(164 |
) |
|
|
(134 |
) |
| Net deferred tax assets |
|
$ |
32,686 |
|
|
$ |
40,916 |
|
| |
|
|
|
|
|
|
|
|
| Deferred tax liabilities: |
|
|
|
|
|
|
|
|
| Intangible assets |
|
|
(16,352 |
) |
|
|
(17,758 |
) |
| Prepaid expenses |
|
|
(242 |
) |
|
|
(172) |
|
| Property and equipment |
|
|
(90,907 |
) |
|
|
(90,998 |
) |
| Right-of-use operating lease asset |
|
|
(5,976 |
) |
|
|
(6,211 |
) |
| Total net deferred tax liabilities |
|
|
(113,477 |
) |
|
|
(115,139 |
) |
| |
|
|
|
|
|
|
|
|
| Net deferred tax liabilities |
|
$ |
(80,791 |
) |
|
$ |
(74,223 |
) |
|
| Summary of Operating Loss and Tax Credit Carryforwards [Table Text Block] |
| (in millions) |
|
Year Ended October 31, 2023 |
|
Year that Carryforwards Begin to Expire |
| Federal net operating loss carryforwards |
|
$ |
69.2 |
|
Indefinite carryforward |
| State net operating loss carryforwards |
|
|
34.8 |
|
FY24 |
| Foreign net operating loss carryforwards |
|
|
10.8 |
|
Indefinite carryforward |
| Foreign tax carryforwards |
|
|
0.1 |
|
FY26 |
| State credit carryforwards |
|
|
0.1 |
|
FY24 |
| Federal interest expense carryforwards |
|
|
3.6 |
|
Indefinite carryforward |
| State interest expense carryforwards |
|
|
11.3 |
|
Indefinite carryforward |
| Total tax carryforwards |
|
$ |
129.9 |
|
|
|
| Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
| (in thousands) |
|
Year Ended October 31, 2023 |
|
|
Year Ended October 31, 2022 |
|
| Balance, beginning of year |
|
$ |
1,333 |
|
|
$ |
1,452 |
|
| Decrease in prior year position |
|
|
(130 |
) |
|
|
(119 |
) |
| Balance, end of year |
|
$ |
1,203 |
|
|
$ |
1,333 |
|
|