0000926423-21-000011 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Jan. 31, 2021	Apr. 13, 2021	Jul. 31, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 31, 2021
Current Fiscal Year End Date	--01-31
Document Transition Report	false
Entity File Number	000-13490
Entity Registrant Name	MIND Technology, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0210849
Entity Address, Address Line One	2002 Timberloch Place
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	281
Local Phone Number	353-4475
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 26,092,078
Entity Common Stock, Shares Outstanding		13,766,680
Documents Incorporated by Reference	Portions of the definitive proxy statement of MIND Technology, Inc. for the 2021Annual Meeting of Stockholders, which will be filed within 120 days of January 31, 2021, are incorporated by reference into Part III of this Annual Report on Form 10-K
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000926423
Common Stock - $0.01 par value per share
Entity Information [Line Items]
Title of 12(b) Security	Common Stock - $0.01 par value per share
Trading Symbol	MIND
Security Exchange Name	NASDAQ
Series A Preferred Stock - $1.00 par value per share
Entity Information [Line Items]
Title of 12(b) Security	Series A Preferred Stock - $1.00 par value per share
Trading Symbol	MINDP
Security Exchange Name	NASDAQ

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Current assets:
Cash and cash equivalents	$ 4,611	$ 3,090
Restricted cash	0	144
Accounts receivable, net of allowance for doubtful accounts of $948 and $2,378 at January 31, 2021 and 2020, respectively	4,747	6,623
Inventories, net	11,453	12,656
Prepaid expenses and other current assets	1,659	1,987
Assets held for sale	4,321	14,913
Total current assets	26,791	39,413
Property and equipment, net	4,751	5,419
Operating lease right-of-use assets	1,471	2,300
Intangible assets, net	6,750	8,136
Goodwill	0	2,531
Other assets	0	429
Total assets	39,763	58,228
Current liabilities:
Accounts payable	1,704	1,767
Deferred revenue	208	731
Accrued expenses and other current liabilities	2,912	1,565
Income taxes payable	562	316
Operating lease liabilities - current	1,008	1,339
Liabilities held for sale	1,442	2,730
Total current liabilities	7,836	8,448
Operating lease liabilities - non-current	463	961
Notes payable	850	0
Other non-current liabilities	0	967
Deferred tax liability	198	200
Total liabilities	9,347	10,576
Commitments and contingencies (Notes 10,17, and 21)
Stockholders’ equity:
Preferred stock, $1.00 par value; 2,000 shares authorized; 1,038 and 994 shares issued and outstanding at January 31, 2021, and 2020, respectively	23,104	22,104
Common stock $0.01 par value; 40,000 shares authorized; 15,681 and 14,049 shares issued at January 31, 2021 and 2020, respectively	157	141
Additional paid-in capital	128,241	123,964
Treasury stock, at cost (1,929 shares at January 31, 2021 and 2020)	(16,860)	(16,860)
Accumulated deficit	(99,870)	(77,310)
Accumulated other comprehensive loss	(4,356)	(4,387)
Total stockholders’ equity	30,416	47,652
Total liabilities and stockholders’ equity	$ 39,763	$ 58,228

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
ASSETS
Allowance for doubtful accounts, current	$ 948	$ 2,378
Stockholders’ equity:
Preferred stock, par value (in usd per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	1,038,000	994,000
Preferred stock, shares outstanding (in shares)	1,038,000	994,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	15,681,000	14,049,000
Treasury stock, shares (in shares)	1,929,000	1,929,000

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Revenues:
Total revenues	$ 21,215	$ 29,919
Cost of sales:
Total cost of sales	13,906	16,965
Gross profit	7,309	12,954
Operating expenses:
Selling, general and administrative	12,648	14,140
Research and development	3,003	1,850
Provision for doubtful accounts	659	0
Impairment of intangible assets	2,531	760
Depreciation and amortization	2,796	2,494
Total operating expenses	21,637	19,244
Operating loss	(14,328)	(6,290)
Other income:
Other income, net	862	100
Total other income	862	100
Loss from continuing operations before income taxes	(13,466)	(6,190)
Provision for income taxes	(536)	(353)
Loss from continuing operations	(14,002)	(6,543)
Loss from discontinued operations, net of income taxes	(6,304)	(4,744)
Net loss	(20,306)	(11,287)
Preferred stock dividends	(2,254)	(2,050)
Net loss attributable to common stockholders	$ (22,560)	$ (13,337)
Net loss per common share - Basic
Continuing operations (in usd per share)	$ (1.30)	$ (0.71)
Discontinued operations (in usd per share)	(0.50)	(0.39)
Net loss (in usd per share)	(1.80)	(1.10)
Net loss per common share - Diluted
Continuing operations (in usd per share)	(1.30)	(0.71)
Discontinued operations (in usd per share)	(0.50)	(0.39)
Net loss (in usd per share)	$ (1.80)	$ (1.10)
Shares used in computing loss per common share:
Basic (in shares)	12,519	12,143
Diluted (in shares)	12,519	12,143
Revenue from Contract with Customer, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember
Cost, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss attributable to common stockholders	$ (22,560)	$ (13,337)
Other changes in cumulative translation adjustment	31	(343)
Comprehensive loss	$ (22,529)	$ (13,680)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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+ Details

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Common Stock Including Additional Paid-In Capital
Beginning balances (in shares) at Jan. 31, 2019		14,049	830
Beginning balances at Jan. 31, 2019	$ 56,678	$ 140	$ 18,330	$ 123,085	$ (16,860)	$ (63,973)	$ (4,044)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(11,287)					(11,287)
Foreign currency translation	(343)						(343)
Equity Compensation (in shares)		9
Equity Compensation	26	$ 1		25
Restricted stock issued (in shares)		39
Restricted stock forfeited for taxes	0
Stock offering (in shares)			164
Stock offering	3,774		$ 3,774
Preferred stock dividends	(2,050)					(2,050)
Stock-based compensation	854			854
Ending balances (in shares) at Jan. 31, 2020		14,097	994
Ending balances at Jan. 31, 2020	47,652	$ 141	$ 22,104	123,964	(16,860)	(77,310)	(4,387)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,306)					(20,306)
Foreign currency translation	31						31
Equity Compensation	0
Restricted stock issued (in shares)		0
Stock offering (in shares)		1,584	44
Stock offering		$ 16	$ 1,000	3,569				$ 3,585
Preferred stock dividends	(2,254)					(2,254)
Purchase of common stock	0
Stock-based compensation	708			708
Ending balances (in shares) at Jan. 31, 2021		15,681	1,038
Ending balances at Jan. 31, 2021	$ 30,416	$ 157	$ 23,104	$ 128,241	$ (16,860)	$ (99,870)	$ (4,356)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Cash flows from operating activities:
Net loss	$ (20,306)	$ (11,287)
Adjustments to reconcile net loss to net cash used in operating activities:
PPP loan forgiveness	(757)	0
Depreciation and amortization	4,627	7,768
Stock-based compensation	708	854
Impairment of intangible assets	2,531	760
Loss on disposal of discontinued operations	1,859	0
Provision for doubtful accounts, net of charge offs	1,129	2,000
Provision for inventory obsolescence	321	298
Gross profit from sale of lease pool equipment	(1,326)	(1,197)
Gross profit from sale of other equipment	(357)	0
Deferred tax expense	32	503
Non-current prepaid tax	0	50
Changes in:
Accounts receivable	4,632	(1,723)
Unbilled revenue	72	(327)
Inventories	1,178	(2,810)
Income taxes receivable and payable	767	0
Accounts payable, accrued expenses and other current liabilities	(2,510)	(178)
Prepaid expenses and other current and long-term assets	581	(506)
Deferred revenue	459	(335)
Foreign exchange losses net of gains	0	313
Net cash used in operating activities	(6,360)	(5,817)
Cash flows from investing activities:
Purchases of seismic equipment held for lease	(110)	(2,955)
Purchase of technology	(366)	0
Purchases of property and equipment	(90)	(1,036)
Sale of used lease pool equipment	2,010	1,664
Sale of assets held for sale	1,506	0
Sale of business, net of cash sold	257	239
Net cash provided by (used in) investing activities	3,207	(2,088)
Cash flows from financing activities:
Net proceeds from preferred stock offering	1,000	3,773
Net proceeds from common stock offering	3,584	0
Preferred stock dividends	(1,677)	(2,050)
Proceeds from PPP loans	1,607	0
Proceeds from exercise of stock options	0	26
Net cash provided by financing activities	4,514	1,749
Effect of changes in foreign exchange rates on cash, cash equivalents and restricted cash	16	(159)
Net increase (decrease) in cash, cash equivalents and restricted cash	1,377	(6,315)
Cash, cash equivalents and restricted cash, beginning of period	3,234	9,549
Cash, cash equivalents and restricted cash, end of period	$ 4,611	$ 3,234

Organization and Summary of Significant Accounting Policies

12 Months Ended

Jan. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Summary of Significant Accounting Policies

Organization—MIND Technology, Inc., a Delaware corporation (the “Company”), formerly Mitcham Industries, Inc., a Texas corporation, was incorporated in 1987. Effective August 3, 2020 the Company effectuated a reincorporation to the state of Delaware. Concurrent with the reincorporation the name of the Company was changed to MIND Technology, Inc. and the number of shares of common stock and preferred stock authorized for issuance was increased. See Note 20 – Corporate Restructuring.

The Company, through its wholly owned subsidiaries, Seamap Pte Ltd, MIND Maritime Acoustics, LLC (formerly Seamap USA, LLC), Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd, collectively “Seamap”, and its wholly owned subsidiary, Klein Marine Systems, Inc. (“Klein”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries with product sales and support facilities based in Singapore, Malaysia, the United Kingdom and the states of New Hampshire and Texas. Prior to July 31, 2020, the Company, through its wholly owned Canadian subsidiary, Mitcham Canada, ULC (“MCL”), its wholly owned Hungarian subsidiary, Mitcham Europe Ltd. (“MEL”), and its branch operations in Colombia, provided full-service equipment leasing, sales and service to the seismic industry worldwide. Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 2 – “Assets Held for Sale and Discontinued Operations” for additional details). All intercompany transactions and balances have been eliminated in consolidation. During February 2019, the Company completed the sale of its wholly owned Australian subsidiary, Seismic Asia Pacific Pty Ltd. (“SAP”) (see Note 23 - “Sale of Subsidiary” for additional details related to this transaction).

Revenue Recognition of Marine Technology Product Sales—Revenues and cost of sales from the sale of marine technology products are recognized upon acceptance of terms and completion of our performance obligations, which is typically when delivery has occurred, barring any question as to collectability.

Revenue Recognition of Long-term Projects—From time to time the Company enters into contracts whereby certain marine equipment is assembled or manufactured and sold, primarily to governmental entities. Performance under these contracts generally occurs over a period of three to twelve months. Revenue and costs related to these contracts are recognized “over time”, as each separately identified performance obligation is satisfied.

Revenue Recognition of Service Agreements—In some cases the Company provides on-going support services pursuant to contracts that generally have a term of 12 months. The Company recognizes revenue from these contracts ratably over the term of the contract. The Company may also provide support services on a time and material basis. Revenue from these arrangements is recognized as the services are provided. For certain new systems, the Company provides support services for up to 12 months at no additional charge. Any amounts attributable to these support obligations are immaterial. Revenues from service contracts for fiscal years ended 2021 and 2020 were not material and as a result are not presented separately in the financial statements.

Revenue Recognition of Leasing Arrangements—The Company leases various types of seismic equipment to seismic data acquisition companies. All leases at January 31, 2021 and 2020 are for one year or less. Lease revenue is recognized ratably over the term of the lease. The Company does not enter into leases with embedded maintenance obligations. The standard lease provides that the lessee is responsible for maintenance and repairs to the equipment, excluding normal wear and tear. The Company occasionally provides technical advice to its customers without additional compensation as part of its customer service practices. Repairs or maintenance performed by the Company is charged to the lessee, generally on a time and materials basis. Repair and maintenance revenues are recognized as incurred. Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 2 – “Assets Held for Sale and Discontinued Operations” for additional details).

Allowance for Doubtful Accounts—Trade receivables are uncollateralized customer obligations due under normal trade terms. The carrying amount of trade receivables and contracts receivable is reduced by a valuation allowance that reflects management’s estimate of the amounts that will not be collected, based on the age of the receivable, payment history of the customer, general industry conditions, general financial condition of the customer and any financial or operational leverage the Company may have in a particular situation. Amounts are written-off when collection is deemed unlikely. Past due amounts are determined based on contractual terms. The Company generally does not charge interest on past due accounts.

Cash and Cash Equivalents—The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents.

Short-term Investments—The Company considers all highly liquid investments with an original maturity greater than three months, but less than twelve months, to be short-term investments.

Inventories—Inventories are stated at the lower of cost or market. An allowance for obsolescence is maintained to reduce the carrying value of any materials or parts that may become obsolete. Inventories are periodically monitored to ensure that the allowance for obsolescence covers any obsolete items.

Property and Equipment—Property and equipment is carried at cost, net of accumulated depreciation. Depreciation is computed on the straight-line method over the related estimated useful lives. The estimated useful lives of equipment range from three to seven years. Buildings are depreciated over 30 years and property improvements are amortized over 10 years or the shorter of their useful life. Leasehold improvements are amortized over the shorter of the realized estimated useful life or the life of the respective leases. No salvage value is assigned to property and equipment.

Intangible Assets—Intangible assets are carried at cost, net of accumulated amortization. Amortization is computed on the straight-line method (for customer relationships, the straight-line method is not materially different from other methods that estimate run off of the underlying customer base) over the estimated life of the asset. Proprietary rights, developed technology and amortizable tradenames are amortized over a 10 to 15-year period. Customer relationships are amortized over an eight-year period. Patents are amortized over an eight to ten-year period.

Impairment—The Company reviews its long-lived assets, including its amortizable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In reviewing for impairment, the carrying value of such assets is compared to the estimated undiscounted future cash flows expected from the use of the assets and their eventual disposition. If such cash flows are not sufficient to support the asset’s recorded value, an impairment charge is recognized to reduce the carrying value of the long-lived asset to its estimated fair value. The determination of future cash flows as well as the estimated fair value of long-lived assets involves significant estimates on the part of management. The Company performs an impairment test on goodwill and indefinite lived assets on an annual basis. The Company performs a qualitative review to determine if it is more likely than not that the fair value of our reporting units is greater their carrying value. If the Company is unable to conclude qualitatively that it is more likely than not that a reporting unit’s fair value exceeds its carrying value, then the Company performs a quantitative assessment of fair value of the reporting unit. The quantitative reviews involve significant estimates on the part of management.

Product Warranties—Seamap provide its customers warranties against defects in materials and workmanship generally for a period of three months after delivery of the product. Klein also provides its customers with similar warranties against defects in material and workmanship for an approximate twelve months period subsequent to delivery of the product. The Company maintains an accrual for potential warranty costs based on historical warranty claims. For the fiscal years ended January 31, 2021 and 2020, warranty expense was not material.

Income Taxes—The Company accounts for income taxes under the liability method, whereby the Company recognizes deferred tax assets and liabilities which represent differences between the financial and income tax reporting basis of its assets and liabilities. Deferred tax assets and liabilities are determined based on temporary differences between income and expenses reported for financial reporting and tax reporting. The Company has assessed, using all available positive and negative evidence, the likelihood that the deferred tax assets will be recovered from future taxable income.

The weight given to the potential effect of positive and negative evidence is commensurate with the extent to which it can be objectively verified. The preponderance of negative or positive evidence supports a conclusion regarding the need for a valuation allowance for some portion, or all, of the deferred tax asset. The more significant types of evidence considered include the following:

•projected taxable income in future years;

•our history of taxable income within a particular jurisdiction;

•any history of deferred tax assets expiring prior realization;

•whether the carry forward period is so brief that it would limit realization of tax benefits;

•other limitations on the utilization of tax benefits;

•future sales and operating cost projections that will produce more than enough taxable income to realize the deferred tax asset based on existing sales prices and cost structures;

•our earnings history exclusive of the loss that created the future deductible amount coupled with evidence indicating that the loss is an aberration rather than a continuing condition; and

•tax planning strategies that will create additional taxable income.

Use of Estimates—The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, the allowance for doubtful accounts, lease pool valuations, valuation allowance on deferred tax assets, the evaluation of uncertain tax positions, estimated depreciable lives of fixed assets and intangible assets, impairment of fixed assets and intangible assets, valuation of assets acquired and liabilities assumed in business combinations and the valuation of stock options. Future events and their effects cannot be perceived with certainty. Accordingly, these accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Actual results could differ from these estimates.

Substantial judgment is necessary in the determination of the appropriate levels for the Company’s allowance for doubtful accounts because of the extended payment terms the Company offers to its customers on occasion and the limited financial wherewithal of certain of these customers. As a result, the Company’s allowance for doubtful accounts could change in the future, and such change could be material to the financial statements taken as a whole. The Company must also make substantial judgments regarding the valuation allowance on deferred tax assets and with respect to quantitative analysis prepared in conjunction with impairment analysis related to goodwill and other intangible assets.

Fair Value of Financial Instruments—The Company’s financial instruments consist of accounts and contracts receivable and accounts payable.

The Financial Accounting Standards Board (“FASB”) has issued guidance on the definition of fair value, the framework for using fair value to measure assets hierarchy, which prioritizes the inputs used to measure fair value. These tiers include:

•Level 1: Defined as observable inputs such as quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

•Level 2: Defined as pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current and contractual prices for the underlying instruments, as well as other relevant economic measures.

•Level 3: Defined as pricing inputs that are unobservable form objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.

The Company measures the fair values of goodwill, intangibles and other long-lived assets on a recurring basis if required by impairment tests applicable to these assets. The Company utilized Level 3 inputs to value intangibles and other long-lived assets as of January 31, 2021. See Notes 10 and 11 to our consolidated financial statements.

Foreign Currency Translation—All balance sheet accounts of the Canadian resident subsidiary for fiscal 2021 and 2020, and for the United Kingdom resident subsidiaries for fiscal 2020, have been translated at the current exchange rate as of the end of the accounting period. Statements of operations items have been translated at average currency exchange rates. The resulting translation adjustment is recorded as a separate component of comprehensive income within stockholders’ equity.

Stock-Based Compensation—Stock-based compensation expense is recorded based on the grant date fair value of share-based awards. Restricted stock awards are valued at the closing price on the date of grant. Determining the grant date fair value for options requires management to make estimates regarding the variables used in the calculation of the grant date fair value. Those variables are the future volatility of our common stock price, the length of time an optionee will hold their options until exercising them (the “expected term”), and the number of options that will be forfeited before they are exercised (the “forfeiture rate”). We utilize various mathematical models in calculating the variables. Share-based compensation expense could be different if we used different models to calculate the variables.

Earnings Per Share—Net income (loss) per basic common share is computed using the weighted average number of common shares outstanding during the period. Net income (loss) per diluted common share is computed using the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect using the treasury stock method, from unvested shares of restricted stock using the treasury stock method and from outstanding common stock warrants. For the fiscal years ended January 31, 2021 and 2020, the following table sets forth the number of potentially dilutive shares that may be issued pursuant to options, restricted stock and warrants outstanding used in the per share calculations.


	Year Ended January 31,
	2021	2020
	(in thousands)
Stock options	48	79
Restricted stock	17	3
Total dilutive shares	65	82

For the fiscal years ended January 31, 2021 and 2020, respectively, potentially dilutive common shares, underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for those periods.

Reclassifications—Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on the results of operations or comprehensive income.

Assets Held for Sale and Discontinued Operations

12 Months Ended

Jan. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

On July 27, 2020, the Board determined to exit the Leasing Business. As a result, the assets, excluding cash, and liabilities of the Leasing Business are considered held for sale and it's results of operations are reported as discontinued operations as of January 31, 2021 and for all comparative periods presented in these condensed consolidated financial statements. The Company anticipates selling the discontinued operations within twelve months from July 27, 2020 in multiple transactions, which may involve the sale of legal entities or assets.

The assets reported as held for sale consist of the following:


	As of January 31,
	2021		2020
Current assets of discontinued operations:


Accounts receivable, net	1,668		5,699

Inventories, net	352		605

Prepaid expenses and other current assets	150		227


Seismic equipment lease pool and property and equipment, net	2,151		8,382








Total assets of discontinued operations	$	4,321	$	14,913

The liabilities reported as held for sale consist of the following:


	As of January 31,
	2021		2020
Current liabilities of discontinued operations:
Accounts payable	$	59	$	884

Deferred revenue	73		34
Accrued expenses and other current liabilities	831		1,886
Income taxes payable	479		(74)






Total liabilities of discontinued operations	$	1,442	$	2,730

The results of operations from discontinued operations for the twelve months ended January 31, 2021 and 2020, consist of the following:


	Twelve Months Ended January 31,
	2021		2020
Revenues:
Revenue from discontinued operations	$	5,747	$	12,756
Cost of sales:
Cost of discontinued operations	4,537		9,089
Operating expenses:
Selling, general and administrative	4,589		5,576
Provision for doubtful accounts	470		2,000
Depreciation and amortization	132		176
Total operating expenses	5,191		7,752
Operating loss	(3,981)		(4,085)
Other income (expenses)	201		(134)
Loss on disposal (including $2,745 of cumulative translation loss)	(1,859)		—
Loss before income taxes	(5,639)		(4,219)
Provision for income taxes	(665)		(525)
Net loss	(6,304)		(4,744)

The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:


	As of January 31,
	2021		2020
Depreciation and amortization	$	1,830	$	4,818
Gross profit from sale of lease pool equipment	$	(1,326)	$	(1,145)
Provisions for doubtful accounts	$	470	$	2,000
Loss on disposal of discontinued operations	$	1,859	$	—
Sale of used lease pool equipment	$	2,010	$	1,415
Sale of assets held for sale	$	1,506	$	—

Purchase of seismic equipment held for lease	$	(110)	$	(2,955)

Sale of Subsidiary In February 2019, the Company completed the sale of its wholly owned Australian subsidiary, Seismic Asia Pacific Pty Ltd. for total contractual proceeds of approximately $660,000 U.S. dollars of which the Company received approximately $240,000 in cash at closing and an unsecured, non-interest bearing two-year note receivable in the amount of $420,000. The agreement also included a working capital adjustment of approximately $114,000 payable to the Company which was received in August of 2019. In fiscal 2021, the Company received a payment of approximately $124,000 that was applied against the note receivable.. The note receivable is recorded in other current assets as of January 31, 2021, and in other non-current assets as of January 31, 2020.

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Jan. 31, 2021
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Qualitative and quantitative disclosures are required, and optional practical expedients may be elected. This ASU is effective for the annual period beginning after December 15, 2018, including interim periods within that annual period. Subsequent amendments to the initial guidance have been issued in January 2017, January 2018, and July 2018 within ASU No. 201703, ASU No. 2018-01, ASU No. 2018-10, and ASU No. 2018-11 regarding qualitative disclosures, optional practical expedients, codification improvements and an optional transition method to adopt with a cumulative-effect adjustment versus a modified retrospective approach. These updates do not change the core principle of the guidance under ASU No. 2016-02, but rather provide implementation guidance. The Company adopted the accounting standard as of February 1, 2019, using the cumulative-effect transition method, which applies the guidance at the beginning of the period of adoption. The Company elected the package of practical expedients permitted, which, among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company made the accounting policy elections to not recognize lease assets and lease liabilities with an initial term of 12 months or less and to not separate lease and non-lease components. The impact of adoption on the Company’s consolidated balance sheet was the recognition of a ROU asset of $3.0 million and an operating lease liability of $3.0 million, primarily for office and shop space leases that are currently off-balance sheet. The adoption did not have a material impact on its results of operations nor any material impact on its cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Liquidity	12 Months Ended
Liquidity	Jan. 31, 2021
Liquidity Disclosure [Abstract]
Liquidity	Liquidity The global pandemic has created significant uncertainty in the global economy which could have a material adverse effect on the Company’s business, financial position, results of operations and liquidity. The time frame for which disruptions related to the pandemic will continue is uncertain as is the magnitude of any adverse impacts. We were required to temporarily shut-down our facilities in Malaysia and Singapore on March 17, 2020 and April 7, 2020, respectively. Both locations have now reopened and are operating at essentially full capacity. Our other facilities have been allowed to operate, although at reduced efficiencies, in some cases some employees have worked remotely. Management believes that any negative impacts will be temporary, but there can be no assurance of that. The Company has a history of operating losses and has had negative cash from operating activities. The above factors create substantial uncertainty regarding the Company’s future financial results and liquidity. Management has identified the following mitigating factors regarding adequate liquidity and capital resources to meet its obligations.: •The Company has no funded debt, excluding the PPP Loan granted to Klein which has been completely forgiven in February 2021, or other outstanding obligations, outside of normal trade obligations. •The Company has no obligations or agreements containing “maintenance type” financial covenants. •The Company has working capital of approximately $19.0 million as of January 31, 2021, including cash of approximately $4.6 million. •Should revenues be less than projected, the Company believes it is able, and has plans, to reduce costs proportionately in order to maintain positive cash flow. •The majority of the Company’s costs are variable in nature, such as raw materials and personnel related costs. The Company has already terminated or furloughed certain employees and contractors. •The Company has a backlog of orders of approximately $14.2 million (unaudited) as of January 31, 2021, as compared to approximately $8.9 million (unaudited) as of January 31, 2020. Production for certain of these orders was in process and included in inventory as of January 31, 2021, thereby reducing the liquidity needed to complete the orders. •Despite difficulties in world energy markets, the Company has been able to generate cash from the sale of lease pool equipment and collection of accounts receivable related to its discontinued operations. Management expects to generate additional liquidity from the sale of lease pool equipment in fiscal 2022. •The Company has declared the quarterly dividend on the its Series A Preferred Stock for the quarter ending April 30, 2021, but such quarterly dividends could be suspended in the future. •Despite the challenging economic environment in the year ended January 31, 2021, the Company was successful expanding its authorized capital stock (See Note 20 - Corporate Restructuring) and raising approximately $4.6 million in new capital through the sale of common and preferred stock pursuant to the 2nd ATM offering program. Management expects to be able to raise further capital through the 2nd ATM offering program should the need arise. •Based on publicized transactions and discussions with potential funding sources, Management believes that other sources of debt and equity financing are available should the need arise. For the factors discussed above, Management expects the Company to continue to meet its obligations as they arise over the next twelve months.

Revenue from Contracts with Customers

12 Months Ended

Jan. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customers

Revenue from Contracts with Customers

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


	Twelve Months Ended January 31,
		2021		2020
Revenue recognized at a point in time:		(in thousands)
Seamap		$	16,304	$	21,617
Klein		4,145		7,468
SAP		—		101
Total revenue recognized at a point in time		$	20,449	$	29,186
Revenue recognized over time:
Seamap		$	766	$	733
Klein		—		—
SAP		—		—
Total revenue recognized over time		766		733
Total revenue from contracts with customers		$	21,215	$	29,919

The revenue from products manufactured and sold by our Seamap and Klein businesses, as well as the revenue from products marketed and sold by our SAP business, is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. Our Seamap business also provides annual Software Maintenance Agreements (“SMA”) to customers who have an active license for software imbedded in Seamap products. The revenue from SMA is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract.

The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:


	Twelve Months Ended January 31,
		2021		2020
Revenue from contracts with customers:		(in thousands)
United States		$	3,687	$	3,920
Europe, Russia & CIS		8,512		15,262
Middle East & Africa		1,226		1,576
Asia-Pacific		6,523		5,377
Canada & Latin America		1,267		3,784
Total revenue from contracts with customers		$	21,215	$	29,919

As of January 31, 2021, contract assets and liabilities consisted of the following:


	January 31, 2021		January 31, 2020
Contract Assets:	(in thousands)
Unbilled revenue-current	$	85	$	13
Unbilled revenue - non-current	—		—
Total unbilled revenue	$	85	$	13
Contract Liabilities:
Deferred revenue & customer deposits - current	$	691	$	220
Deferred revenue & customer deposits - non-current	—		12
Total deferred revenue & customer deposits	$	691	$	232

Considering the products manufactured and sold by our Marine Technology Products business and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a three to six-month period.

With respect to the disclosures above, sales and transaction-based taxes are excluded from revenue, and we do not disclose the value of unsatisfied performance obligations for contacts with an original expected duration of one year or less. Also, we expense costs incurred to obtain contracts because the amortization period would be one year or less. These costs are recorded in selling, general and administrative expenses.

Sales and Major Customers

A summary of the Company’s revenues, from continuing operations, from customers by geographic region, outside the U.S., is as follows (in thousands):


	Year Ended January 31,
	2021		2020
UK/Europe	$	8,005	$	14,975
Canada	1,267		3,519
Latin America	—		262
Asia/South Pacific	6,523		5,377
Eurasia	507		290
Other	1,226		1,576
Total	$	17,528	$	25,999

During each of the fiscal years ended 2021 and 2020, no individual customer exceeded 10% of total revenue.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Supplemental Statements of Cash Flows Information

12 Months Ended

Jan. 31, 2021

Supplemental Cash Flow Elements [Abstract]

Supplemental Statements of Cash Flows Information

Supplemental disclosures of cash flows information for the fiscal years ended January 31, 2021 and 2020 were as follows (in thousands):


	Year Ended January 31,
	2021		2020
Interest paid	$	40	$	63
Income taxes paid, net	336		498
Seismic equipment purchases included in accounts payable at year-end	—		812

Inventories

12 Months Ended

Jan. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories from continuing operations consisted of the following (in thousands):


	As of January 31,
	2021		2020
Raw materials	$	6,905	$	7,388
Finished goods	3,466		3,758
Work in progress	2,445		2,720
Cost of inventories	12,816		13,866
Less allowance for obsolescence	(1,363)		(1,210)
Net inventories	$	11,453	$	12,656

Accounts Receivables

12 Months Ended

Jan. 31, 2021

Receivables [Abstract]

Accounts Receivables

Accounts receivables from continuing operations consisted of the following (in thousands):


	As of January 31, 2021		As of January 31, 2020
	Current		Total		Current		Total
Accounts receivable	$	5,695	$	5,695	$	9,001	$	9,001
Less allowance for doubtful accounts	(948)		(948)		(2,378)		(2,378)
Accounts receivable net of allowance for doubtful accounts	$	4,747	$	4,747	$	6,623	$	6,623

Property and Equipment

12 Months Ended

Jan. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment from continuing operations consisted of the following (in thousands)


	As of January 31,
	2021		2020
Marine seismic service equipment	5,969		8,341
Land and buildings	4,354		4,274
Furniture and fixtures	9,750		9,364
Autos and trucks	491		491
Cost of property and equipment	20,564		22,470
Less accumulated depreciation	(15,813)		(17,051)
Net book value of property and equipment	$	4,751	$	5,419

Location of property and equipment (in thousands):


	As of January 31,
	2021		2020
United States	$	3,133	$	3,379
Europe	87		78


Singapore	480		773
Malaysia	1,051		1,189


Net book value of property and equipment	$	4,751	$	5,419

Leases

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Leases

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) which was modified by subsequently issued ASUs 2018-01, 2018-10, 2018-11 and 2018-20 (collectively the “New Lease Standard”). The New Lease Standard requires organizations that lease assets (“lessees”) to recognize the assets and liabilities of the rights and obligations created by leases with terms of more than 12 months. The recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee remains dependent on its classification as a finance or operating lease. The New Lease Standard also requires additional disclosure of the amount, timing, and uncertainty of cash flows arising from leases, including qualitative and quantitative requirements. The New Lease Standard was effective for financial statements issued for annual periods beginning after December 15, 2018, including interim periods within those fiscal years.

In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”). ASU 2018-11 provided additional relief in the comparative reporting requirements for initial adoption of the New Lease Standard. Prior to ASU 2018-11, a modified retrospective transition was required for financing or operating leases existing at or entered after the beginning of the earliest comparative period presented in the financial statements. ASU 2018-11 provided an additional transition method allowing entities to initially apply the New Lease Standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjustment to the financial statements for periods prior to adoption.

The Company adopted the New Lease Standard effective February 1, 2019. We elected to apply the current period transition approach as introduced by ASU 2018-11 and we elected to apply the following practical expedients and accounting policy decisions.

We elected a package of transition expedients, which must be elected together, that allowed us to forgo reassessing certain conclusions reached under ASC 840. All expedients in this package were applied together for all leases that commenced before the effective date, February 1, 2019, of the adoption of the New Lease Standard. As a result, in transitioning to the New Lease Standard, for existing leases as of February 1, 2019, we continued to use judgments made under ASC 840 related to embedded leases, lease classification and accounting for initial direct costs. In addition, we have chosen, as an accounting policy election by class of underlying asset, not to separate non-lease components from the associated lease for all our leased asset classes, excluding for Real Estate related leases. As a result, for classes of Automobiles, Office Equipment and Manufacturing Equipment, we account for each separate lease component and the non-lease components associated with that lease as a single lease component.

The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Hungary, Singapore, Malaysia, United Kingdom and Canada.

Adoption of the New Lease Standard did have a material impact on our consolidated balance sheet as we recorded right-of-use assets and the corresponding lease liabilities related to our operating leases of approximately $3.0 million, each. The Company determined to treat lease costs with an original maturity of less than one year as short-term lease costs and did not record a right-of-use asset or related lease liability for these leases. The new standard did not have a material impact on our consolidated statements of operations or our statements of cash flows.

Lease expense for the twelve months ended January 31, 2021 and 2020 was approximately $828,000 and $1.2 million, respectively, and was recorded as a component of operating loss. Included in these costs was short-term lease expense of approximately $20,000 and $30,000 for the twelve months ended January 31, 2021 and 2020, respectively.

Supplemental balance sheet information related to leases as of January 31, 2021 and 2020 was as follows (in thousands):


	As of January 31,
Lease	2021		2020
Assets
Operating lease assets	$	1,471	$	2,300

Liabilities
Operating lease liabilities	$	1,471	$	2,300

Classification of lease liabilities
Current liabilities	$	1,008	$	1,339
Non-current liabilities	463		961
Total Operating lease liabilities	$	1,471	$	2,300

Lease-term and discount rate details as of January 31, 2021 and 2020 were as follows:


	As of January 31,
Lease term and discount rate	2021		2020
Weighted average remaining lease term (years)
Operating leases	1.09		1.76

Weighted average discount rate:
Operating leases	10	%	9.27	%

The incremental borrowing rate was calculated using the Company’s weighted average cost of capital.

Supplemental cash flow information related to leases at January 31, 2021 and 2020 was as follows (in thousands):


	As of January 31,
Lease	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,157)	$	(1,182)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	—	$	635

Maturities of lease liabilities at January 31, 2021 and 2020 were as follows (in thousands):


	As of January 31,
	2021		2020
2021	$	1,007	$	1,338
2022	421		838
2023	110		222
2024	58		98
2025	24		52
Thereafter	—		21
Total payments under lease agreements	$	1,620	$	2,569

Less: imputed interest	(149)		(269)

Total lease liabilities	$	1,471	$	2,300

Prior to July 31, 2020, the Company leased seismic equipment to customers under operating leases with non-cancelable terms of one year or less. These leases were generally renewable on a month-to-month basis. All taxes (other than income taxes) and assessments were the

contractual responsibility of the lessee. To the extent that foreign taxes were not paid by the lessee, the relevant foreign taxing authorities might seek to collect such taxes from the Company. Under the terms of its lease agreements, any amounts paid by the Company to such foreign taxing authorities may be billed and collected from the lessee. The Company is not aware of any foreign tax obligations as of January 31, 2021 and 2020 that are not reflected in the accompanying consolidated financial statements.

The Company leases its office and warehouse facilities in Canada, Texas, Singapore, United Kingdom, Hungary and Malaysia under operating leases. Facility lease expense for the fiscal years ended January 31, 2021 and 2020 was approximately $1.2 million and $1.2 million, respectively.

Leases

The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Hungary, Singapore, Malaysia, United Kingdom and Canada.

Supplemental balance sheet information related to leases as of January 31, 2021 and 2020 was as follows (in thousands):


	As of January 31,
Lease	2021		2020
Assets
Operating lease assets	$	1,471	$	2,300

Liabilities
Operating lease liabilities	$	1,471	$	2,300

Classification of lease liabilities
Current liabilities	$	1,008	$	1,339
Non-current liabilities	463		961
Total Operating lease liabilities	$	1,471	$	2,300

Lease-term and discount rate details as of January 31, 2021 and 2020 were as follows:


	As of January 31,
Lease term and discount rate	2021		2020
Weighted average remaining lease term (years)
Operating leases	1.09		1.76

Weighted average discount rate:
Operating leases	10	%	9.27	%

The incremental borrowing rate was calculated using the Company’s weighted average cost of capital.

Supplemental cash flow information related to leases at January 31, 2021 and 2020 was as follows (in thousands):


	As of January 31,
Lease	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,157)	$	(1,182)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	—	$	635

Maturities of lease liabilities at January 31, 2021 and 2020 were as follows (in thousands):


	As of January 31,
	2021		2020
2021	$	1,007	$	1,338
2022	421		838
2023	110		222
2024	58		98
2025	24		52
Thereafter	—		21
Total payments under lease agreements	$	1,620	$	2,569

Less: imputed interest	(149)		(269)

Total lease liabilities	$	1,471	$	2,300

Goodwill and Other Intangible Assets

12 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets from continuing operations consisted of the following:


	Weighted Average Life at 1/31/20	January 31, 2021								January 31, 2020
		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount
		(in thousands)								(in thousands)
Goodwill		$	7,060	$	—	$	(7,060)	$	—	$	7,060	$	—	$	(4,529)	$	2,531
Proprietary rights	7.2	$	7,781	$	(3,688)	—		4,093		$	9,247	$	(4,950)	—		4,297
Customer relationships	0.8	5,024		(4,513)		—		511		5,024		(3,831)		—		1,193
Patents	3.6	2,440		(1,528)		—		912		2,440		(1,277)		—		1,163
Trade name	5.3	894		(74)		(760)		60		894		(63)		(760)		71

Developed technology	4.9	1,430		(727)		—		703		1,430		(584)		—		846
Other	3.4	684		(213)		—		471		653		(87)		—		566
Amortizable intangible assets		$	18,253	$	(10,743)	$	(760)	$	6,750	$	19,688	$	(10,792)	$	(760)	$	8,136

As of January 31, 2021, the Company completed its annual review of intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair value of our Seamap reporting unit was greater than its carrying value. Based on a review of qualitative and quantitative factors it was determined it was more likely than not that the fair value of our Klein reporting unit was greater than its carrying value. Accordingly, we did not record an impairment charge related to intangible assets in the Seamap and Klein reporting units.

Due to the economic impact of the global pandemic, the decline in oil prices during the three months ended April 30, 2020 and a decline in the market value of the Company’s equity securities, the Company performed a quantitative review of the Seamap reporting unit and concluded that goodwill had been impaired. As a result, the Company recorded an impairment expense of approximately $2.5 million related to goodwill in the Seamap reporting unit during the quarter ended April 30, 2020.

As of January 31, 2020, the Company completed its annual review of goodwill and indefinite lived intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair value of our Seamap reporting unit was greater than its carrying value. Based on a review of qualitative and quantitative factors it was determined it was more likely than not that the fair value of our Klein reporting unit was not greater than its carrying value. Accordingly, we recorded an impairment of approximately $760,000 related to indefinite lived intangible assets in the Klein reporting unit.

Aggregate amortization expense was $1.8 million, and $1.8 million for the fiscal years ended January 31, 2021 and 2020, respectively. As of January 31, 2021, future estimated amortization expense related to amortizable intangible assets is estimated to be (in thousands):


For fiscal year ending January 31:
2022	$	1,266
2023	1,125
2024	989
2025	828
2026	658
Thereafter	1,884
Total	$	6,750

Accrued Expenses and Other Current Liabilities

12 Months Ended

Jan. 31, 2021

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities from continuing operations consisted of the following (in thousands):


	As of January 31,
	2021		2020
Contract settlement	$	968	$	228
Wages and benefits	577		317
Customer deposits	484		239

Accrued inventory	—		229
Other	883		552
Accrued Expenses and Other Liabilities	$	2,912	$	1,565

Notes Payable	12 Months Ended
Notes Payable	Jan. 31, 2021
Debt Disclosure [Abstract]
Notes Payable	Notes Payable On May 5, 2020, the Company, and its wholly owned subsidiary, Klein (collectively, the “Borrowers”), were granted loans (the “Loans”) from Bank of America, N.A. in the aggregate amount of approximately $1.6 million, pursuant to the Small Business Association's Paycheck Protection Program (the “PPP”), a component of the Coronavirus Aid, Relief, and Economic Security Act which was enacted on March 27, 2020. The Loans, in the form of promissory notes (the “Notes”) dated May 1, 2020 issued by the Borrowers, mature on May 1, 2022 and bear interest at a rate of 1% per annum, payable monthly commencing on November 1, 2020. The Notes stipulate various restrictions customary with this type of transaction including representations, warranties, and covenants, in addition to events of default, breaches of representation and warranties or other provisions of the Notes. In the event of default, the Borrowers may become obligated to repay all amounts outstanding under the Notes. The Borrowers may prepay the Notes at any time prior to maturity with no prepayment penalties. Under the terms of the PPP, funds from the Loans may only be used for payroll costs, rent, utilities and interest on other debt obligations incurred prior to February 15, 2020. In addition, certain amounts of the Loan may be forgiven if the funds are used to pay qualifying expenses.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Jan. 31, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The Company has 2,000,000 shares of preferred stock authorized. The preferred stock may be issued in multiple series with various terms, as authorized by the Company’s Board of Directors. As of January 31, 2021, 1,038,232 shares of the Series A Preferred Stock were outstanding, and 994,046 shares were outstanding as of January 31, 2020. Dividends on the Series A Preferred Stock are cumulative from the date of original issue and payable quarterly on or about the last day of January, April, July and October of each year when, as and if, declared by the Company’s board of directors. Dividends are payable out of amounts legally available therefor at a rate equal to 9.00% per annum per $25.00 of stated liquidation preference per share, or $2.25 per share of Series A Preferred Stock per year. The Company may not redeem the Series A Preferred Stock before June 8, 2021, except as described below. On or after June 8, 2021, the Company may redeem, at the Company’s option, the Series A Preferred Stock, in whole or in part, at a cash redemption price of $25.00 per share, plus all accrued and unpaid dividends to, but not including, the redemption date. If at any time a change of control occurs, the Company will have the option to redeem the Series A Preferred Stock, in whole or in part, within 120 days after the date on which the change of control occurred by paying $25.00 per share, plus any accrued and unpaid dividends to, but not including, the date of redemption. The Series A Preferred Stock has no stated maturity, is not subject to any sinking fund or other mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by the Company or converted into our common stock in connection with a change of control. Holders of the Series A Preferred Stock generally have no voting rights except for limited voting rights if dividends payable on the outstanding Series A Preferred Stock are in arrears for six or more consecutive or non-consecutive quarterly dividend periods, or if the Company fails to maintain the listing of the Series A Preferred Stock on a national securities exchange for a period continuing for more than 180 days. The Company has 40,000,000 shares of common stock authorized, of which 15,681,000 and 14,049,000 were issued as of January 31, 2021 and 2020, respectively, including 1,929,000 treasury shares. During the fiscal years ended January 31, 2021, and 2020 there were no shares surrendered in exchange for payment of taxes due upon vesting of restricted shares.

Related Party Transaction	12 Months Ended
Related Party Transaction	Jan. 31, 2021
Related Party Transactions [Abstract]
Related Party Transaction	Related Party Transaction On October 7, 2016, the Company entered into an equity distribution agreement with Ladenburg Thalmann & Co. Inc. (the “Agent”). On December 18, 2019, the Company and Agent entered into an Amended and Restated equity distribution agreement (the “1st Equity Distribution Agreement”). Pursuant to the 1st Equity Distribution Agreement, the Company may sell up to 500,000 shares of the Series A Preferred Stock through the Agent through the 1st ATM offering program. The Co-Chief Executive Officer and Co-President of the Agent is the Non-Executive Chairman of the Board. Under the Equity Distribution Agreement, the Agent was entitled to compensation of up to 2.0% of the gross proceeds from the sale of Series A Preferred Stock under the 1st ATM offering program. As of January 31, 2021, we had issued 994,046 shares which represent 100% of the Series A Preferred Stock available for sale through the 1st Equity Distribution Agreement. In September 2020 we entered into a new equity distribution agreement (the “2nd Equity Distribution Agreement”) with the Agent with economic terms essentially identical to the initial agreement. Pursuant to the 2nd Equity Distribution Agreement, the Company may sell up to 500,000 shares of Preferred Stock and 5,000,000 shares of $0.01 par value common stock (“Common Stock”) through the 2nd ATM offering program. For the twelve months ended January 31, 2021, the Company issued 44,186 shares of Series A Preferred Stock under the 2nd ATM offering program. Gross proceeds from these sales were approximately $1.0 million and the Agent received compensation of approximately $20,408, resulting in net proceeds to the Company of $1.0 million for the twelve months ended January 31, 2021. The Non-Executive Chairman of the Company received no portion of this compensation. For the twelve months ended January 31, 2021, the Company issued 1,584,556 shares of Common Stock under the 2nd ATM offering program. Gross proceeds from these sales were approximately $4.0 million, the Agent received compensation of approximately $79,307 resulting in net proceeds to the Company, after deducting underwriting discounts and offering costs, of approximately $3.6 million for the twelve months ended January 31, 2021. The Non-Executive Chairman of the Company received no portion of this compensation. At January 31, 2021, the Company has an outstanding obligation payable to the beneficiary of the estate of our former CEO. The obligation, which bears interest at 4% per annum, totals approximately $968,000 and is included in accrued expenses and other current liabilities on the Company’s Consolidated Balance Sheet as of January 31, 2021.

Income Taxes

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes


	Year Ended January 31,
	2021		2020
	(in thousands)
(Loss) income from continuing operations before income taxes is attributable to the following jurisdictions:
Domestic	$	(8,851)	$	(7,550)
Foreign	(4,615)		1,360
Total	$	(13,466)	$	(6,190)
The components of income tax expense (benefit) for continuing operations were as follows:
Current:
Domestic	$	22	$	27
Foreign	515		58
	537		85
Deferred:
Domestic	—		—
Foreign	(1)		268
	(1)		268
Income tax expense	$	536	$	353

The following is a reconciliation of expected to actual income tax expense (benefit) for continuing operations:


	Year Ended January 31,
	2021		2020
	(in thousands)
Federal income tax at 21%	$	(2,828)	$	(1,300)
Changes in tax rates	(50)		50
Permanent differences	413		52
Foreign effective tax rate differential	66		(80)

Foreign withholding taxes, including penalties and interest	29		34
Tax effect of book loss on disposition of subsidiaries	—		79
Valuation allowance on deferred tax assets	2,682		1,205
Excess tax deficiency for share-based payments under ASU 2016-09	66		284
Other	158		29
	$	536	$	353

The components of the Company’s deferred taxes for continuing operations consisted of the following:


	As of January 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Net operating losses	$	17,177	$	13,716
Tax credit carry forwards	139		117
Stock option book expense	718		650
Allowance for doubtful accounts	—		229
Inventory	565		525
Accruals not yet deductible for tax purposes	281		357
Fixed assets	232		105
Intangible assets	445		337
Other	599		561
Gross deferred tax assets	20,156		16,597
Valuation allowance	(20,156)		(16,597)
Deferred tax assets	—		—
Deferred tax liabilities:

Other	(198)		(200)
Deferred tax liabilities	(198)		(200)
Unrecognized tax benefits	—		—
Total deferred tax (liabilities) assets, net	(198)		$	(200)

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the global pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company does not believe the CARES Act will have a material impact on the Company’s future income tax expense or the related tax assets and liabilities.

The Company has determined that, due to the potential requirement for additional investment and working capital to achieve its objectives, the undistributed earnings of foreign subsidiaries as of January 31, 2021, are not deemed indefinitely reinvested outside of the United States. Furthermore, the Company has concluded that any deferred taxes with respect to the undistributed foreign earnings would be immaterial, particularly in light of the one-time repatriation of foreign earnings imposed by the TCJA and recorded in fiscal 2019. Therefore, the Company has not recorded a deferred tax liability associated with the undistributed foreign earnings as of January 31, 2021.

Included in deferred tax assets is approximately $700,000 related to stock-based compensation, including non-qualified stock options. A significant number of stock options expired during fiscal 2021 because the market price of the Company’s common stock remained below the exercise price of these options. Recent market prices for the Company’s common stock remain below the exercise price of a number of options outstanding as of January 31, 2021. Should the market price of the Company’s common stock remain below the exercise price of the

options, these stock options will expire without exercise. In accordance with the provisions of ASC 718-740-10, a valuation allowance has not been computed based on the decline in stock price.

As of January 31, 2021, the Company has recorded valuation allowances of approximately $20.2 million related to deferred tax assets for continuing operations. These deferred tax assets relate primarily to net operating loss carryforwards in the United States and other jurisdictions. The valuation allowances were determined based on management’s judgment as to the likelihood that the deferred tax assets would not be realized. The judgment was based on an evaluation of available evidence, both positive and negative.

At January 31, 2021, the Company had tax credit carry forwards for continuing operations of approximately $139,000, which amounts can be carried forward through at least 2026.

As of January 31, 2021, and 2020 the company had no unrecognized tax benefits attributable to uncertain tax positions.

The Company recognizes interest and penalties related to income tax matters as a component of income tax expense.

The Company files U.S. federal income tax returns as well as separate returns for its foreign subsidiaries within their local jurisdictions. The Company’s U.S. federal tax returns are subject to examination by the IRS for fiscal years ended January 31, 2017 through 2021. The Company’s tax returns may also be subject to examination by state and local revenue authorities for fiscal years ended January 31, 2015 through 2021. The Company’s Singapore income tax returns are subject to examination by the Singapore tax authorities for fiscal years ended January 31, 2015 through 2021. The Company’s tax returns in other foreign jurisdictions are generally subject to examination for the fiscal years ended January 31, 2015 through January 31, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jan. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesDuring fiscal 2021 we entered into an agreement (the “Agreement”) with a major European defense contractor (the “Co-developer”) for the joint development and marketing of synthetic aperture sonar (“SAS”) systems. Under the terms of the Agreement, we are obligated to make payments upon completion of certain developmental milestones related to a license for use of the Co-developer’s underlying technology. Our total potential commitment, assuming achievement of all milestones contemplated in the Agreement, is approximately $1.6 million, of which approximately $300,000 was paid in January 2021. Purchase Obligations—At January 31, 2021, the Company had approximately $3.9 million in purchase orders outstanding.

Stock Option Plans

12 Months Ended

Jan. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock Option Plans

At January 31, 2021, the Company had stock-based compensation plans as described in more detail below. The total compensation expense related to stock-based awards granted under these plans during the fiscal years ended January 31, 2021 and 2020 was approximately $708,000 and $854,000, respectively. The Company recognizes stock-based compensation costs net of a forfeiture rate for only those awards expected to vest over the requisite service period of the award. The Company estimates the forfeiture rate based on its historical experience regarding employee terminations and forfeitures.

The fair value of each option award is estimated as of the date of grant using a Black-Scholes-Merton option pricing formula. Expected volatility is based on historical volatility of the Company’s stock over a preceding period commensurate with the expected term of the option. The expected term is based upon historical exercise patterns. The risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected dividend yield was not considered in the option pricing formula since the Company does not pay dividends and has not paid any dividends since its incorporation. The weighted average grant-date fair value of options granted during the fiscal years ended January 31, 2021 and 2020 were $0.70 and $1.77, respectively. The assumptions for the periods indicated are noted in the following table.

Weighted average Black-Scholes-Merton fair value assumptions


	Year Ending January 31,
	2021	2020
Risk free interest rate	0.34% - 0.37%	1.47% - 2.53%
Expected life	3.97 years - 5.97 years	3.98 years - 6.00 years
Expected volatility	53% - 64%	49% - 51%
Expected dividend yield	0.0%	0.0%

Cash flows resulting from tax benefits attributable to tax deductions in excess of the compensation expense recognized for those options (excess tax benefits) are classified as financing out-flows and operating in-flows. The Company had no excess tax benefits during the fiscal years ended January 31, 2021 and 2020.

The Company has share-based awards outstanding under, the MIND Technology, Inc. Stock Awards Plan (“the Plan”). Stock options granted and outstanding under the Plan generally vest evenly over three years and have a 10-year contractual term. The exercise price of a stock option generally is equal to the fair market value of the Company’s common stock on the option grant date. As of January 31, 2021, there were approximately 615,000 shares available for grant under the Plan. The Plan provides for awards of nonqualified stock options, incentive stock options, restricted stock awards, restricted stock units and phantom stock. New shares are issued upon vesting for restricted stock and upon exercise for options.

Stock Based Compensation Activity

The following table presents a summary of the Company’s stock option activity for the fiscal year ended January 31, 2021:


	Number of Shares (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 31, 2020	2,440	$	4.51	7.08	$	20
Granted	320	1.47
Exercised	—	—
Forfeited	(41)	4.63
Expired	(133)	5.31
Outstanding, January 31, 2021	2,586	$	4.09	6.58	$	223
Exercisable at January 31, 2021	1,778	$	4.63	5.71	$	—
Vested and expected to vest at January 31, 2021	2,562	$	4.12	6.55	$	213

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the fourth quarter of fiscal 2021 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on January 31, 2021. This amount changes based upon the market value of the Company’s common stock. No options were exercised during fiscal year ended January 31, 2021. There was no intrinsic value of the 9,000 options exercised during the fiscal year ended January 31, 2020. The fair value of options that vested during the fiscal years ended January 31, 2021 and 2020 was approximately $950,000 and $650,000, respectively. For the fiscal year ended January 31, 2021, approximately 500,000 options vested.

As of January 31, 2021, there was approximately $482,228 of total unrecognized compensation expense related to unvested stock options granted under the Company’s share-based compensation plans. That expense is expected to be recognized over a weighted average period of 1.3 years.

Restricted stock as of January 31, 2021 and changes during the fiscal year ended January 31, 2021 were as follows:


	Year Ended January 31, 2021
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value
Unvested, beginning of period	37	$	3.98
Granted	15	1.25
Vested	(12)	3.98
Canceled	—	—
Unvested, end of period	40	$	2.94

As of January 31, 2021, there was approximately no unrecognized stock-based compensation expense related to unvested restricted stock awards.

Segment Reporting	12 Months Ended
Segment Reporting	Jan. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWith the designation of the Equipment Leasing segment as discontinued operations as of July 31, 2020, the Company operates in one segment, Marine Technology Products. The Marine Technology Products business is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the United Kingdom, Singapore, Malaysia and the states of New Hampshire and Texas.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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+ Details

Corporate Restructuring	12 Months Ended
Corporate Restructuring	Jan. 31, 2021
Restructuring and Related Activities [Abstract]
Corporate Restructuring	Corporate Restructuring On August 3, 2020, the Company, formerly Mitcham Industries, Inc., completed the reincorporation from the State of Texas to the State of Delaware, including a name change to MIND Technology, Inc. The change in legal domicile and company name were approved by the affirmative vote of the holders of more than two-thirds of the votes of the Company’s Common Stock and Preferred Stock, voting separately, at the Annual Meeting of Stockholders held on July 27, 2020. As part of the reincorporation merger, the stockholders approved an increase in the number of authorized shares of capital stock from 21,000,000 shares to 42,000,000 shares, consisting of (i) 40,000,000 shares of Common Stock (up from 20,000,000 shares), and (ii) 2,000,000 shares of Preferred Stock(up from 1,000,000 shares). Pursuant to the terms of the reincorporation merger, each outstanding share of Common Stock and each share of Preferred Stock of Mitcham Industries, Inc., the Texas corporation, automatically converted into one share of Common Stock and one share of Series A Preferred Stock, respectively, of MIND Technology, Inc., the Delaware corporation. Stockholders who hold physical stock certificates are not required to, but may, exchange stock certificates as a result of the reincorporation. The Company’s Common Stock and Preferred Stock continued to trade on the NASDAQ Global Select Market under their ticker symbols, “MIND” and “MINDP”, respectively. The Company’s Common Stock was assigned a new CUSIP number of 602566 101 and the Company’s Preferred Stock was assigned a new CUSIP number of 602566 200. No changes have been made to the Board, management, business or operations of the Company as a result of the reincorporation. The Company’s corporate headquarters remains in Texas.

Concentrations	12 Months Ended
Concentrations	Jan. 31, 2021
Risks and Uncertainties [Abstract]
Concentrations	Concentrations Credit Risk— As of January 31, 2021, we had three customers that exceeded 10% of consolidated accounts receivable. During our fiscal year ended 2020, no customer exceeded 10% of consolidated accounts receivable. The Company maintains deposits and certificates of deposit with banks which may exceed the Federal Deposit Insurance Corporation (“FDIC”) insured limit and money market accounts which are not FDIC insured. In addition, deposits aggregating approximately $2.8 million at January 31, 2021 are held in foreign banks. Management believes the risk of loss in connection with these accounts is minimal. Supplier Concentration—The Company has satisfactory relationships with its suppliers. However, should those relationships deteriorate, the Company may have difficulty in obtaining new technology requested by its customers and maintaining the existing equipment in accordance with manufacturers’ specifications.

Sales and Major Customers

12 Months Ended

Jan. 31, 2021

Segment Reporting [Abstract]

Sales and Major Customers

Revenue from Contracts with Customers

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


	Twelve Months Ended January 31,
		2021		2020
Revenue recognized at a point in time:		(in thousands)
Seamap		$	16,304	$	21,617
Klein		4,145		7,468
SAP		—		101
Total revenue recognized at a point in time		$	20,449	$	29,186
Revenue recognized over time:
Seamap		$	766	$	733
Klein		—		—
SAP		—		—
Total revenue recognized over time		766		733
Total revenue from contracts with customers		$	21,215	$	29,919

The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:


	Twelve Months Ended January 31,
		2021		2020
Revenue from contracts with customers:		(in thousands)
United States		$	3,687	$	3,920
Europe, Russia & CIS		8,512		15,262
Middle East & Africa		1,226		1,576
Asia-Pacific		6,523		5,377
Canada & Latin America		1,267		3,784
Total revenue from contracts with customers		$	21,215	$	29,919

As of January 31, 2021, contract assets and liabilities consisted of the following:


	January 31, 2021		January 31, 2020
Contract Assets:	(in thousands)
Unbilled revenue-current	$	85	$	13
Unbilled revenue - non-current	—		—
Total unbilled revenue	$	85	$	13
Contract Liabilities:
Deferred revenue & customer deposits - current	$	691	$	220
Deferred revenue & customer deposits - non-current	—		12
Total deferred revenue & customer deposits	$	691	$	232

Sales and Major Customers

A summary of the Company’s revenues, from continuing operations, from customers by geographic region, outside the U.S., is as follows (in thousands):


	Year Ended January 31,
	2021		2020
UK/Europe	$	8,005	$	14,975
Canada	1,267		3,519
Latin America	—		262
Asia/South Pacific	6,523		5,377
Eurasia	507		290
Other	1,226		1,576
Total	$	17,528	$	25,999

During each of the fiscal years ended 2021 and 2020, no individual customer exceeded 10% of total revenue.

- Definition

+ References

+ Details

Sale of Subsidiary

12 Months Ended

Jan. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Sale of Subsidiary

Assets Held for Sale and Discontinued Operations

The assets reported as held for sale consist of the following:


	As of January 31,
	2021		2020
Current assets of discontinued operations:


Accounts receivable, net	1,668		5,699

Inventories, net	352		605

Prepaid expenses and other current assets	150		227


Seismic equipment lease pool and property and equipment, net	2,151		8,382








Total assets of discontinued operations	$	4,321	$	14,913

The liabilities reported as held for sale consist of the following:


	As of January 31,
	2021		2020
Current liabilities of discontinued operations:
Accounts payable	$	59	$	884

Deferred revenue	73		34
Accrued expenses and other current liabilities	831		1,886
Income taxes payable	479		(74)






Total liabilities of discontinued operations	$	1,442	$	2,730

The results of operations from discontinued operations for the twelve months ended January 31, 2021 and 2020, consist of the following:


	Twelve Months Ended January 31,
	2021		2020
Revenues:
Revenue from discontinued operations	$	5,747	$	12,756
Cost of sales:
Cost of discontinued operations	4,537		9,089
Operating expenses:
Selling, general and administrative	4,589		5,576
Provision for doubtful accounts	470		2,000
Depreciation and amortization	132		176
Total operating expenses	5,191		7,752
Operating loss	(3,981)		(4,085)
Other income (expenses)	201		(134)
Loss on disposal (including $2,745 of cumulative translation loss)	(1,859)		—
Loss before income taxes	(5,639)		(4,219)
Provision for income taxes	(665)		(525)
Net loss	(6,304)		(4,744)

The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:


	As of January 31,
	2021		2020
Depreciation and amortization	$	1,830	$	4,818
Gross profit from sale of lease pool equipment	$	(1,326)	$	(1,145)
Provisions for doubtful accounts	$	470	$	2,000
Loss on disposal of discontinued operations	$	1,859	$	—
Sale of used lease pool equipment	$	2,010	$	1,415
Sale of assets held for sale	$	1,506	$	—

Purchase of seismic equipment held for lease	$	(110)	$	(2,955)

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Jan. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

SCHEDULE II

MIND TECHNOLOGY, INC.

VALUATION AND QUALIFYING ACCOUNTS

(in thousands)


Col. A	Col. B		Col. C(1)	Col. C(2)		Col. D		Col. E
Description	Balance at Beginning of Period		Charged to Costs and Expenses	Charged to Other Accounts		Deductions Describe		Balance at End of Period
Allowance for doubtful accounts
January 31, 2021	$	4,054	1,129	(43)	(a)	(3,364)	(b)	$	1,776
January 31, 2020	$	2,113	2,000	—	(a)	(59)	(b)	$	4,054

Allowance for obsolete equipment and inventory
January 31, 2021	$	1,404	321	1	(a)	(66)	(c)	$	1,660
January 31, 2020	$	1,222	298	1	(a)	(117)	(c)	$	1,404

(a)Represents translation differences.

(b)Represents recoveries and uncollectible accounts written off.

(c)Represents sale or scrap of inventory and obsolete equipment.

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jan. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization—MIND Technology, Inc., a Delaware corporation (the “Company”), formerly Mitcham Industries, Inc., a Texas corporation, was incorporated in 1987. Effective August 3, 2020 the Company effectuated a reincorporation to the state of Delaware. Concurrent with the reincorporation the name of the Company was changed to MIND Technology, Inc. and the number of shares of common stock and preferred stock authorized for issuance was increased. See Note 20 – Corporate Restructuring. The Company, through its wholly owned subsidiaries, Seamap Pte Ltd, MIND Maritime Acoustics, LLC (formerly Seamap USA, LLC), Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd, collectively “Seamap”, and its wholly owned subsidiary, Klein Marine Systems, Inc. (“Klein”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries with product sales and support facilities based in Singapore, Malaysia, the United Kingdom and the states of New Hampshire and Texas. Prior to July 31, 2020, the Company, through its wholly owned Canadian subsidiary, Mitcham Canada, ULC (“MCL”), its wholly owned Hungarian subsidiary, Mitcham Europe Ltd. (“MEL”), and its branch operations in Colombia, provided full-service equipment leasing, sales and service to the seismic industry worldwide. Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 2 – “Assets Held for Sale and Discontinued Operations” for additional details). All intercompany transactions and balances have been eliminated in consolidation. During February 2019, the Company completed the sale of its wholly owned Australian subsidiary, Seismic Asia Pacific Pty Ltd. (“SAP”) (see Note 23 - “Sale of Subsidiary” for additional details related to this transaction).
Revenue Recognition of Marine Technology Product Sales, Long-term Projects, and Service Agreements	Revenue Recognition of Marine Technology Product Sales—Revenues and cost of sales from the sale of marine technology products are recognized upon acceptance of terms and completion of our performance obligations, which is typically when delivery has occurred, barring any question as to collectability. Revenue Recognition of Long-term Projects—From time to time the Company enters into contracts whereby certain marine equipment is assembled or manufactured and sold, primarily to governmental entities. Performance under these contracts generally occurs over a period of three to twelve months. Revenue and costs related to these contracts are recognized “over time”, as each separately identified performance obligation is satisfied. Revenue Recognition of Service Agreements—In some cases the Company provides on-going support services pursuant to contracts that generally have a term of 12 months. The Company recognizes revenue from these contracts ratably over the term of the contract. The Company may also provide support services on a time and material basis. Revenue from these arrangements is recognized as the services are provided. For certain new systems, the Company provides support services for up to 12 months at no additional charge. Any amounts attributable to these support obligations are immaterial. Revenues from service contracts for fiscal years ended 2021 and 2020 were not material and as a result are not presented separately in the financial statements.
Revenue Recognition of Leasing Arrangements	Revenue Recognition of Leasing Arrangements—The Company leases various types of seismic equipment to seismic data acquisition companies. All leases at January 31, 2021 and 2020 are for one year or less. Lease revenue is recognized ratably over the term of the lease. The Company does not enter into leases with embedded maintenance obligations. The standard lease provides that the lessee is responsible for maintenance and repairs to the equipment, excluding normal wear and tear. The Company occasionally provides technical advice to its customers without additional compensation as part of its customer service practices. Repairs or maintenance performed by the Company is charged to the lessee, generally on a time and materials basis. Repair and maintenance revenues are recognized as incurred. Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 2 – “Assets Held for Sale and Discontinued Operations” for additional details).
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts—Trade receivables are uncollateralized customer obligations due under normal trade terms. The carrying amount of trade receivables and contracts receivable is reduced by a valuation allowance that reflects management’s estimate of the amounts that will not be collected, based on the age of the receivable, payment history of the customer, general industry conditions, general financial condition of the customer and any financial or operational leverage the Company may have in a particular situation. Amounts are written-off when collection is deemed unlikely. Past due amounts are determined based on contractual terms. The Company generally does not charge interest on past due accounts.
Cash and Cash Equivalents	Cash and Cash Equivalents—The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents.
Short-term Investments	Short-term Investments—The Company considers all highly liquid investments with an original maturity greater than three months, but less than twelve months, to be short-term investments.
Inventories	Inventories—Inventories are stated at the lower of cost or market. An allowance for obsolescence is maintained to reduce the carrying value of any materials or parts that may become obsolete. Inventories are periodically monitored to ensure that the allowance for obsolescence covers any obsolete items.
Property and Equipment	Property and Equipment—Property and equipment is carried at cost, net of accumulated depreciation. Depreciation is computed on the straight-line method over the related estimated useful lives. The estimated useful lives of equipment range from three to seven years. Buildings are depreciated over 30 years and property improvements are amortized over 10 years or the shorter of their useful life. Leasehold improvements are amortized over the shorter of the realized estimated useful life or the life of the respective leases. No salvage value is assigned to property and equipment.
Intangible Assets	Intangible Assets—Intangible assets are carried at cost, net of accumulated amortization. Amortization is computed on the straight-line method (for customer relationships, the straight-line method is not materially different from other methods that estimate run off of the underlying customer base) over the estimated life of the asset. Proprietary rights, developed technology and amortizable tradenames are amortized over a 10 to 15-year period. Customer relationships are amortized over an eight-year period. Patents are amortized over an eight to ten-year period.
Impairment	Impairment—The Company reviews its long-lived assets, including its amortizable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In reviewing for impairment, the carrying value of such assets is compared to the estimated undiscounted future cash flows expected from the use of the assets and their eventual disposition. If such cash flows are not sufficient to support the asset’s recorded value, an impairment charge is recognized to reduce the carrying value of the long-lived asset to its estimated fair value. The determination of future cash flows as well as the estimated fair value of long-lived assets involves significant estimates on the part of management. The Company performs an impairment test on goodwill and indefinite lived assets on an annual basis. The Company performs a qualitative review to determine if it is more likely than not that the fair value of our reporting units is greater their carrying value. If the Company is unable to conclude qualitatively that it is more likely than not that a reporting unit’s fair value exceeds its carrying value, then the Company performs a quantitative assessment of fair value of the reporting unit. The quantitative reviews involve significant estimates on the part of management.
Product Warranties	Product Warranties—Seamap provide its customers warranties against defects in materials and workmanship generally for a period of three months after delivery of the product. Klein also provides its customers with similar warranties against defects in material and workmanship for an approximate twelve months period subsequent to delivery of the product. The Company maintains an accrual for potential warranty costs based on historical warranty claims.
Income Taxes	Income Taxes—The Company accounts for income taxes under the liability method, whereby the Company recognizes deferred tax assets and liabilities which represent differences between the financial and income tax reporting basis of its assets and liabilities. Deferred tax assets and liabilities are determined based on temporary differences between income and expenses reported for financial reporting and tax reporting. The Company has assessed, using all available positive and negative evidence, the likelihood that the deferred tax assets will be recovered from future taxable income. The weight given to the potential effect of positive and negative evidence is commensurate with the extent to which it can be objectively verified. The preponderance of negative or positive evidence supports a conclusion regarding the need for a valuation allowance for some portion, or all, of the deferred tax asset. The more significant types of evidence considered include the following: •projected taxable income in future years; •our history of taxable income within a particular jurisdiction; •any history of deferred tax assets expiring prior realization; •whether the carry forward period is so brief that it would limit realization of tax benefits; •other limitations on the utilization of tax benefits; •future sales and operating cost projections that will produce more than enough taxable income to realize the deferred tax asset based on existing sales prices and cost structures; •our earnings history exclusive of the loss that created the future deductible amount coupled with evidence indicating that the loss is an aberration rather than a continuing condition; and •tax planning strategies that will create additional taxable income.
Use of Estimates	Use of Estimates—The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, the allowance for doubtful accounts, lease pool valuations, valuation allowance on deferred tax assets, the evaluation of uncertain tax positions, estimated depreciable lives of fixed assets and intangible assets, impairment of fixed assets and intangible assets, valuation of assets acquired and liabilities assumed in business combinations and the valuation of stock options. Future events and their effects cannot be perceived with certainty. Accordingly, these accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Actual results could differ from these estimates.Substantial judgment is necessary in the determination of the appropriate levels for the Company’s allowance for doubtful accounts because of the extended payment terms the Company offers to its customers on occasion and the limited financial wherewithal of certain of these customers. As a result, the Company’s allowance for doubtful accounts could change in the future, and such change could be material to the financial statements taken as a whole. The Company must also make substantial judgments regarding the valuation allowance on deferred tax assets and with respect to quantitative analysis prepared in conjunction with impairment analysis related to goodwill and other intangible assets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments—The Company’s financial instruments consist of accounts and contracts receivable and accounts payable. The Financial Accounting Standards Board (“FASB”) has issued guidance on the definition of fair value, the framework for using fair value to measure assets hierarchy, which prioritizes the inputs used to measure fair value. These tiers include: •Level 1: Defined as observable inputs such as quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. •Level 2: Defined as pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current and contractual prices for the underlying instruments, as well as other relevant economic measures. •Level 3: Defined as pricing inputs that are unobservable form objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company measures the fair values of goodwill, intangibles and other long-lived assets on a recurring basis if required by impairment tests applicable to these assets. The Company utilized Level 3 inputs to value intangibles and other long-lived assets as of January 31, 2021.
Foreign Currency Translation	Foreign Currency Translation—All balance sheet accounts of the Canadian resident subsidiary for fiscal 2021 and 2020, and for the United Kingdom resident subsidiaries for fiscal 2020, have been translated at the current exchange rate as of the end of the accounting period. Statements of operations items have been translated at average currency exchange rates. The resulting translation adjustment is recorded as a separate component of comprehensive income within stockholders’ equity.
Stock-Based Compensation	Stock-Based Compensation—Stock-based compensation expense is recorded based on the grant date fair value of share-based awards. Restricted stock awards are valued at the closing price on the date of grant. Determining the grant date fair value for options requires management to make estimates regarding the variables used in the calculation of the grant date fair value. Those variables are the future volatility of our common stock price, the length of time an optionee will hold their options until exercising them (the “expected term”), and the number of options that will be forfeited before they are exercised (the “forfeiture rate”). We utilize various mathematical models in calculating the variables. Share-based compensation expense could be different if we used different models to calculate the variables.
Earnings Per Share	Earnings Per Share—Net income (loss) per basic common share is computed using the weighted average number of common shares outstanding during the period. Net income (loss) per diluted common share is computed using the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect using the treasury stock method, from unvested shares of restricted stock using the treasury stock method and from outstanding common stock warrants.
Reclassifications	Reclassifications—Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on the results of operations or comprehensive income.
New Accounting Pronouncements	New Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Qualitative and quantitative disclosures are required, and optional practical expedients may be elected. This ASU is effective for the annual period beginning after December 15, 2018, including interim periods within that annual period. Subsequent amendments to the initial guidance have been issued in January 2017, January 2018, and July 2018 within ASU No. 201703, ASU No. 2018-01, ASU No. 2018-10, and ASU No. 2018-11 regarding qualitative disclosures, optional practical expedients, codification improvements and an optional transition method to adopt with a cumulative-effect adjustment versus a modified retrospective approach. These updates do not change the core principle of the guidance under ASU No. 2016-02, but rather provide implementation guidance. The Company adopted the accounting standard as of February 1, 2019, using the cumulative-effect transition method, which applies the guidance at the beginning of the period of adoption. The Company elected the package of practical expedients permitted, which, among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company made the accounting policy elections to not recognize lease assets and lease liabilities with an initial term of 12 months or less and to not separate lease and non-lease components. The impact of adoption on the Company’s consolidated balance sheet was the recognition of a ROU asset of $3.0 million and an operating lease liability of $3.0 million, primarily for office and shop space leases that are currently off-balance sheet. The adoption did not have a material impact on its results of operations nor any material impact on its cash flows.

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Restricted Stock and Options Outstanding Used in Per Share Calculations

For the fiscal years ended January 31, 2021 and 2020, the following table sets forth the number of potentially dilutive shares that may be issued pursuant to options, restricted stock and warrants outstanding used in the per share calculations.


	Year Ended January 31,
	2021	2020
	(in thousands)
Stock options	48	79
Restricted stock	17	3
Total dilutive shares	65	82

Assets Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Jan. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations, Including Balance Sheet, Income Statement, Cash Flow, and Additional Disclosures

The assets reported as held for sale consist of the following:


	As of January 31,
	2021		2020
Current assets of discontinued operations:


Accounts receivable, net	1,668		5,699

Inventories, net	352		605

Prepaid expenses and other current assets	150		227


Seismic equipment lease pool and property and equipment, net	2,151		8,382








Total assets of discontinued operations	$	4,321	$	14,913

The liabilities reported as held for sale consist of the following:


	As of January 31,
	2021		2020
Current liabilities of discontinued operations:
Accounts payable	$	59	$	884

Deferred revenue	73		34
Accrued expenses and other current liabilities	831		1,886
Income taxes payable	479		(74)






Total liabilities of discontinued operations	$	1,442	$	2,730

The results of operations from discontinued operations for the twelve months ended January 31, 2021 and 2020, consist of the following:


	Twelve Months Ended January 31,
	2021		2020
Revenues:
Revenue from discontinued operations	$	5,747	$	12,756
Cost of sales:
Cost of discontinued operations	4,537		9,089
Operating expenses:
Selling, general and administrative	4,589		5,576
Provision for doubtful accounts	470		2,000
Depreciation and amortization	132		176
Total operating expenses	5,191		7,752
Operating loss	(3,981)		(4,085)
Other income (expenses)	201		(134)
Loss on disposal (including $2,745 of cumulative translation loss)	(1,859)		—
Loss before income taxes	(5,639)		(4,219)
Provision for income taxes	(665)		(525)
Net loss	(6,304)		(4,744)

The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:


	As of January 31,
	2021		2020
Depreciation and amortization	$	1,830	$	4,818
Gross profit from sale of lease pool equipment	$	(1,326)	$	(1,145)
Provisions for doubtful accounts	$	470	$	2,000
Loss on disposal of discontinued operations	$	1,859	$	—
Sale of used lease pool equipment	$	2,010	$	1,415
Sale of assets held for sale	$	1,506	$	—

Purchase of seismic equipment held for lease	$	(110)	$	(2,955)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
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+ Details

Revenue from Contracts with Customers (Tables)

12 Months Ended

Jan. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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


	Twelve Months Ended January 31,
		2021		2020
Revenue recognized at a point in time:		(in thousands)
Seamap		$	16,304	$	21,617
Klein		4,145		7,468
SAP		—		101
Total revenue recognized at a point in time		$	20,449	$	29,186
Revenue recognized over time:
Seamap		$	766	$	733
Klein		—		—
SAP		—		—
Total revenue recognized over time		766		733
Total revenue from contracts with customers		$	21,215	$	29,919

The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:


	Twelve Months Ended January 31,
		2021		2020
Revenue from contracts with customers:		(in thousands)
United States		$	3,687	$	3,920
Europe, Russia & CIS		8,512		15,262
Middle East & Africa		1,226		1,576
Asia-Pacific		6,523		5,377
Canada & Latin America		1,267		3,784
Total revenue from contracts with customers		$	21,215	$	29,919

Contract with Customer, Asset and Liability

As of January 31, 2021, contract assets and liabilities consisted of the following:


	January 31, 2021		January 31, 2020
Contract Assets:	(in thousands)
Unbilled revenue-current	$	85	$	13
Unbilled revenue - non-current	—		—
Total unbilled revenue	$	85	$	13
Contract Liabilities:
Deferred revenue & customer deposits - current	$	691	$	220
Deferred revenue & customer deposits - non-current	—		12
Total deferred revenue & customer deposits	$	691	$	232

Supplemental Statements of Cash Flows Information (Tables)

12 Months Ended

Jan. 31, 2021

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flows Information

Supplemental disclosures of cash flows information for the fiscal years ended January 31, 2021 and 2020 were as follows (in thousands):


	Year Ended January 31,
	2021		2020
Interest paid	$	40	$	63
Income taxes paid, net	336		498
Seismic equipment purchases included in accounts payable at year-end	—		812

Inventories (Tables)

12 Months Ended

Jan. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories from continuing operations consisted of the following (in thousands):


	As of January 31,
	2021		2020
Raw materials	$	6,905	$	7,388
Finished goods	3,466		3,758
Work in progress	2,445		2,720
Cost of inventories	12,816		13,866
Less allowance for obsolescence	(1,363)		(1,210)
Net inventories	$	11,453	$	12,656

Accounts Receivables (Tables)

12 Months Ended

Jan. 31, 2021

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivables from continuing operations consisted of the following (in thousands):


	As of January 31, 2021		As of January 31, 2020
	Current		Total		Current		Total
Accounts receivable	$	5,695	$	5,695	$	9,001	$	9,001
Less allowance for doubtful accounts	(948)		(948)		(2,378)		(2,378)
Accounts receivable net of allowance for doubtful accounts	$	4,747	$	4,747	$	6,623	$	6,623

Property and Equipment (Tables)

12 Months Ended

Jan. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment from continuing operations consisted of the following (in thousands)


	As of January 31,
	2021		2020
Marine seismic service equipment	5,969		8,341
Land and buildings	4,354		4,274
Furniture and fixtures	9,750		9,364
Autos and trucks	491		491
Cost of property and equipment	20,564		22,470
Less accumulated depreciation	(15,813)		(17,051)
Net book value of property and equipment	$	4,751	$	5,419

Location of Property and Equipment

Location of property and equipment (in thousands):


	As of January 31,
	2021		2020
United States	$	3,133	$	3,379
Europe	87		78


Singapore	480		773
Malaysia	1,051		1,189


Net book value of property and equipment	$	4,751	$	5,419

Leases (Tables)

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases as of January 31, 2021 and 2020 was as follows (in thousands):


	As of January 31,
Lease	2021		2020
Assets
Operating lease assets	$	1,471	$	2,300

Liabilities
Operating lease liabilities	$	1,471	$	2,300

Classification of lease liabilities
Current liabilities	$	1,008	$	1,339
Non-current liabilities	463		961
Total Operating lease liabilities	$	1,471	$	2,300

Lease-term and discount rate details as of January 31, 2021 and 2020 were as follows:


	As of January 31,
Lease term and discount rate	2021		2020
Weighted average remaining lease term (years)
Operating leases	1.09		1.76

Weighted average discount rate:
Operating leases	10	%	9.27	%

Supplemental Cash Flow Information

Supplemental cash flow information related to leases at January 31, 2021 and 2020 was as follows (in thousands):


	As of January 31,
Lease	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,157)	$	(1,182)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	—	$	635

Maturities of Lease Liabilities

Maturities of lease liabilities at January 31, 2021 and 2020 were as follows (in thousands):


	As of January 31,
	2021		2020
2021	$	1,007	$	1,338
2022	421		838
2023	110		222
2024	58		98
2025	24		52
Thereafter	—		21
Total payments under lease agreements	$	1,620	$	2,569

Less: imputed interest	(149)		(269)

Total lease liabilities	$	1,471	$	2,300

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets from continuing operations consisted of the following:


	Weighted Average Life at 1/31/20	January 31, 2021								January 31, 2020
		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount
		(in thousands)								(in thousands)
Goodwill		$	7,060	$	—	$	(7,060)	$	—	$	7,060	$	—	$	(4,529)	$	2,531
Proprietary rights	7.2	$	7,781	$	(3,688)	—		4,093		$	9,247	$	(4,950)	—		4,297
Customer relationships	0.8	5,024		(4,513)		—		511		5,024		(3,831)		—		1,193
Patents	3.6	2,440		(1,528)		—		912		2,440		(1,277)		—		1,163
Trade name	5.3	894		(74)		(760)		60		894		(63)		(760)		71

Developed technology	4.9	1,430		(727)		—		703		1,430		(584)		—		846
Other	3.4	684		(213)		—		471		653		(87)		—		566
Amortizable intangible assets		$	18,253	$	(10,743)	$	(760)	$	6,750	$	19,688	$	(10,792)	$	(760)	$	8,136

Future Estimated Amortization Expense Related to Amortizable Intangible Assets

As of January 31, 2021, future estimated amortization expense related to amortizable intangible assets is estimated to be (in thousands):


For fiscal year ending January 31:
2022	$	1,266
2023	1,125
2024	989
2025	828
2026	658
Thereafter	1,884
Total	$	6,750

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Jan. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities from continuing operations consisted of the following (in thousands):


	As of January 31,
	2021		2020
Contract settlement	$	968	$	228
Wages and benefits	577		317
Customer deposits	484		239

Accrued inventory	—		229
Other	883		552
Accrued Expenses and Other Liabilities	$	2,912	$	1,565

Income Taxes (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliation of Income Taxes by Jurisdiction


	Year Ended January 31,
	2021		2020
	(in thousands)
(Loss) income from continuing operations before income taxes is attributable to the following jurisdictions:
Domestic	$	(8,851)	$	(7,550)
Foreign	(4,615)		1,360
Total	$	(13,466)	$	(6,190)
The components of income tax expense (benefit) for continuing operations were as follows:
Current:
Domestic	$	22	$	27
Foreign	515		58
	537		85
Deferred:
Domestic	—		—
Foreign	(1)		268
	(1)		268
Income tax expense	$	536	$	353

Reconciliation of Expected to Actual Income Tax Expense

The following is a reconciliation of expected to actual income tax expense (benefit) for continuing operations:


	Year Ended January 31,
	2021		2020
	(in thousands)
Federal income tax at 21%	$	(2,828)	$	(1,300)
Changes in tax rates	(50)		50
Permanent differences	413		52
Foreign effective tax rate differential	66		(80)

Foreign withholding taxes, including penalties and interest	29		34
Tax effect of book loss on disposition of subsidiaries	—		79
Valuation allowance on deferred tax assets	2,682		1,205
Excess tax deficiency for share-based payments under ASU 2016-09	66		284
Other	158		29
	$	536	$	353

Company's Deferred Taxes

The components of the Company’s deferred taxes for continuing operations consisted of the following:


	As of January 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Net operating losses	$	17,177	$	13,716
Tax credit carry forwards	139		117
Stock option book expense	718		650
Allowance for doubtful accounts	—		229
Inventory	565		525
Accruals not yet deductible for tax purposes	281		357
Fixed assets	232		105
Intangible assets	445		337
Other	599		561
Gross deferred tax assets	20,156		16,597
Valuation allowance	(20,156)		(16,597)
Deferred tax assets	—		—
Deferred tax liabilities:

Other	(198)		(200)
Deferred tax liabilities	(198)		(200)
Unrecognized tax benefits	—		—
Total deferred tax (liabilities) assets, net	(198)		$	(200)

Stock Option Plans (Tables)

12 Months Ended

Jan. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value Option Award

The assumptions for the periods indicated are noted in the following table.

Weighted average Black-Scholes-Merton fair value assumptions


	Year Ending January 31,
	2021	2020
Risk free interest rate	0.34% - 0.37%	1.47% - 2.53%
Expected life	3.97 years - 5.97 years	3.98 years - 6.00 years
Expected volatility	53% - 64%	49% - 51%
Expected dividend yield	0.0%	0.0%

Summary of Company's Stock Option Activity

The following table presents a summary of the Company’s stock option activity for the fiscal year ended January 31, 2021:


	Number of Shares (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 31, 2020	2,440	$	4.51	7.08	$	20
Granted	320	1.47
Exercised	—	—
Forfeited	(41)	4.63
Expired	(133)	5.31
Outstanding, January 31, 2021	2,586	$	4.09	6.58	$	223
Exercisable at January 31, 2021	1,778	$	4.63	5.71	$	—
Vested and expected to vest at January 31, 2021	2,562	$	4.12	6.55	$	213

Restricted Stock and Changes During Period

Restricted stock as of January 31, 2021 and changes during the fiscal year ended January 31, 2021 were as follows:


	Year Ended January 31, 2021
	Number of Shares (in thousands)	Weighted Average Grant Date Fair Value
Unvested, beginning of period	37	$	3.98
Granted	15	1.25
Vested	(12)	3.98
Canceled	—	—
Unvested, end of period	40	$	2.94

Sales and Major Customers (Tables)

12 Months Ended

Jan. 31, 2021

Segment Reporting [Abstract]

Summary of Company's Revenues from Customers by Geographic Region, Outside the U.S.

A summary of the Company’s revenues, from continuing operations, from customers by geographic region, outside the U.S., is as follows (in thousands):


	Year Ended January 31,
	2021		2020
UK/Europe	$	8,005	$	14,975
Canada	1,267		3,519
Latin America	—		262
Asia/South Pacific	6,523		5,377
Eurasia	507		290
Other	1,226		1,576
Total	$	17,528	$	25,999

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Jan. 31, 2021	Jul. 30, 2020	Jan. 31, 2020	Jan. 31, 2019
Organization and Summary of Significant Accounting Policies [Line Items]
Services pursuant to contracts term (in months)	12 months
Support services term (in months)	12 months
Additional charges	$ 0
Salvage value assigned to property and equipment	$ 0
Customer relationships
Organization and Summary of Significant Accounting Policies [Line Items]
Intangible assets amortization period (in years)	8 years
Building
Organization and Summary of Significant Accounting Policies [Line Items]
Estimated useful lives (in years)	30 years
Property Improvements
Organization and Summary of Significant Accounting Policies [Line Items]
Estimated useful lives (in years)	10 years
Minimum
Organization and Summary of Significant Accounting Policies [Line Items]
Performance period of long-term projects (in months)	3 months
Estimated useful lives (in years)	3 years
Minimum \| Proprietary rights developed technology and amortizable trade names
Organization and Summary of Significant Accounting Policies [Line Items]
Intangible assets amortization period (in years)	10 years
Minimum \| Patents
Organization and Summary of Significant Accounting Policies [Line Items]
Intangible assets amortization period (in years)	8 years
Maximum
Organization and Summary of Significant Accounting Policies [Line Items]
Performance period of long-term projects (in months)	12 months
Lease term (in years)	1 year	1 year	1 year	1 year
Estimated useful lives (in years)	7 years
Maximum \| Proprietary rights developed technology and amortizable trade names
Organization and Summary of Significant Accounting Policies [Line Items]
Intangible assets amortization period (in years)	15 years
Maximum \| Patents
Organization and Summary of Significant Accounting Policies [Line Items]
Intangible assets amortization period (in years)	10 years
Seamap
Organization and Summary of Significant Accounting Policies [Line Items]
Customers warranty against defects (in months)	3 months
Klein
Organization and Summary of Significant Accounting Policies [Line Items]
Customers warranty against defects (in months)	12 months

Organization and Summary of Significant Accounting Policies - Restricted Stock and Options Outstanding Used in Per Share Calculations (Detail) - shares shares in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock options (in shares)	48	79
Restricted stock (in shares)	17	3
Total dilutive shares	65	82

Assets Held for Sale and Discontinued Operations - Schedule of Discontinued Operations, Balance Sheet (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Current assets of discontinued operations:
Total assets of discontinued operations	$ 4,321	$ 14,913
Current liabilities of discontinued operations:
Total liabilities of discontinued operations	1,442	2,730
Discontinued Operations, Held-for-sale
Current assets of discontinued operations:
Accounts receivable, net	1,668	5,699
Inventories, net	352	605
Prepaid expenses and other current assets	150	227
Seismic equipment lease pool and property and equipment, net	2,151	8,382
Total assets of discontinued operations	4,321	14,913
Current liabilities of discontinued operations:
Accounts payable	59	884
Deferred revenue	73	34
Accrued expenses and other current liabilities	831	1,886
Income taxes payable	479	(74)
Total liabilities of discontinued operations	$ 1,442	$ 2,730

Assets Held for Sale and Discontinued Operations - Schedule of Discontinued Operations, Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Operating expenses:
Loss on disposal (including $2,745 of cumulative translation loss)	$ (1,859)	$ 0
Net loss	(6,304)	(4,744)
Discontinued Operations, Held-for-sale
Revenues:
Revenue from discontinued operations	5,747	12,756
Cost of sales:
Cost of discontinued operations	4,537	9,089
Operating expenses:
Selling, general and administrative	4,589	5,576
Provision for doubtful accounts	470	2,000
Depreciation and amortization	132	176
Total operating expenses	5,191	7,752
Operating loss	(3,981)	(4,085)
Other income (expenses)	201
Other income (expenses)		(134)
Loss on disposal (including $2,745 of cumulative translation loss)	(1,859)	0
Cumulative translation loss	2,745
Loss before income taxes	(5,639)	(4,219)
Provision for income taxes	(665)	(525)
Net loss	$ (6,304)	$ (4,744)

Assets Held for Sale and Discontinued Operations - Schedule of Discontinued Operations, Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of discontinued operations	$ 1,859	$ 0
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	1,830	4,818
Gross profit from sale of lease pool equipment	(1,326)	(1,145)
Provision for doubtful accounts	470	2,000
Loss on disposal of discontinued operations	1,859	0
Sale of used lease pool equipment	2,010	1,415
Sale of assets held for sale	1,506	0
Purchase of seismic equipment held for lease	$ (110)	$ (2,955)

New Accounting Pronouncements New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020	Feb. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 1,471	$ 2,300
Operating lease liability	$ 1,471	$ 2,300
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets			$ 3,000
Operating lease liability			$ 3,000

Liquidity - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Liquidity Disclosure [Abstract]
Working capital	$ 19.0
Cash included in working capital	4.6
Backlog of orders	14.2	$ 8.9
Proceeds from sale of common and preferred stock	$ 4.6

Revenue from Contracts with Customers - Revenue Disaggregation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 21,215	$ 29,919
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	20,449	29,186
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	766	733
Seamap \| Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	16,304	21,617
Seamap \| Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	766	733
Klein \| Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,145	7,468
Klein \| Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
SAP \| Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	101
SAP \| Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 0	$ 0

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue from Contracts with Customers - Revenue Disaggregated by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 21,215	$ 29,919
United States
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,687	3,920
Europe, Russia & CIS
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	8,512	15,262
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,226	1,576
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	6,523	5,377
Canada & Latin America
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 1,267	$ 3,784

- Definition

+ References

+ Details

Revenue from Contracts with Customers - Contract Assets And Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Contract Assets:
Unbilled revenue-current	$ 85	$ 13
Unbilled revenue - non-current	0	0
Total unbilled revenue	85	13
Contract Liabilities:
Deferred revenue & customer deposits - current	691	220
Deferred revenue & customer deposits - non-current	0	12
Total deferred revenue & customer deposits	$ 691	$ 232
Minimum
Contract With Customers [Line Items]
Contract with customers, turn over period (in months)	3 months
Maximum
Contract With Customers [Line Items]
Contract with customers, turn over period (in months)	6 months

Supplemental Statements of Cash Flows Information - Supplemental Disclosures of Cash Flows Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 40	$ 63
Income taxes paid, net	336	498
Seismic equipment purchases included in accounts payable at year-end	$ 0	$ 812

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 6,905	$ 7,388
Finished goods	3,466	3,758
Work in progress	2,445	2,720
Cost of inventories	12,816	13,866
Less allowance for obsolescence	(1,363)	(1,210)
Net inventories	$ 11,453	$ 12,656

Accounts Receivables - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Receivables [Abstract]
Current accounts receivable	$ 5,695	$ 9,001
Accounts receivable	5,695	9,001
Less current portion of allowance for doubtful accounts	(948)	(2,378)
Less total allowance for doubtful accounts	(948)	(2,378)
Current accounts receivable, net of allowance for doubtful accounts	4,747	6,623
Total accounts receivable, net of allowance for doubtful accounts	$ 4,747	$ 6,623

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Property, Plant and Equipment [Line Items]
Cost of property and equipment	$ 20,564	$ 22,470
Less accumulated depreciation	(15,813)	(17,051)
Net book value of property and equipment	4,751	5,419
Marine seismic service equipment
Property, Plant and Equipment [Line Items]
Cost of property and equipment	5,969	8,341
Land and buildings
Property, Plant and Equipment [Line Items]
Cost of property and equipment	4,354	4,274
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Cost of property and equipment	9,750	9,364
Autos and trucks
Property, Plant and Equipment [Line Items]
Cost of property and equipment	$ 491	$ 491

Property and Equipment - Location of Property and Equipment (Detail) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Geographic Information For Property Plant And Equipment [Line Items]
Net book value of property and equipment	$ 4,751	$ 5,419
United States
Geographic Information For Property Plant And Equipment [Line Items]
Net book value of property and equipment	3,133	3,379
Europe
Geographic Information For Property Plant And Equipment [Line Items]
Net book value of property and equipment	87	78
Singapore
Geographic Information For Property Plant And Equipment [Line Items]
Net book value of property and equipment	480	773
Malaysia
Geographic Information For Property Plant And Equipment [Line Items]
Net book value of property and equipment	$ 1,051	$ 1,189

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020	Jul. 30, 2020	Feb. 01, 2019	Jan. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 1,471	$ 2,300
Total operating lease liabilities	1,471	2,300
Lease expense	828	1,200
Short-term lease expense	20	30
ASU 2016-02
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets				$ 3,000
Total operating lease liabilities				$ 3,000
Office
Lessee, Lease, Description [Line Items]
Facility lease expense	$ 1,200	$ 1,200
Maximum
Lessee, Lease, Description [Line Items]
Operating leases, non-cancelable term (in years)	1 year	1 year	1 year		1 year

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Assets
Operating lease right-of-use assets	$ 1,471	$ 2,300
Liabilities
Total operating lease liabilities	1,471	2,300
Current liabilities	1,008	1,339
Non-current liabilities	463	961
Total Operating lease liabilities	$ 1,471	$ 2,300
Weighted average remaining lease term (years)
Operating leases	1 year 1 month 2 days	1 year 9 months 3 days
Weighted average discount rate:
Operating leases	10.00%	9.27%

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (1,157)	$ (1,182)
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 0	$ 635

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Leases [Abstract]
2021	$ 1,007	$ 1,338
2022	421	838
2023	110	222
2024	58	98
2025	24	52
Thereafter	0	21
Total payments under lease agreements	1,620	2,569
Less: imputed interest	(149)	(269)
Total operating lease liabilities	$ 1,471	$ 2,300

Goodwill and Other Intangible Assets - Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Gross Carrying Amount	$ 7,060	$ 7,060
Goodwill Impairment	(7,060)	(4,529)
Goodwill, Net Carrying Amount	0	2,531
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,253	19,688
Accumulated Amortization	(10,743)	(10,792)
Impairment	(760)	(760)
Net Carrying Amount	$ 6,750	8,136
Proprietary rights
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	7 years 2 months 12 days
Gross Carrying Amount	$ 7,781	9,247
Accumulated Amortization	(3,688)	(4,950)
Net Carrying Amount	$ 4,093	4,297
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	9 months 18 days
Gross Carrying Amount	$ 5,024	5,024
Accumulated Amortization	(4,513)	(3,831)
Net Carrying Amount	$ 511	1,193
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	3 years 7 months 6 days
Gross Carrying Amount	$ 2,440	2,440
Accumulated Amortization	(1,528)	(1,277)
Net Carrying Amount	$ 912	1,163
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	5 years 3 months 18 days
Gross Carrying Amount	$ 894	894
Accumulated Amortization	(74)	(63)
Impairment	(760)	(760)
Net Carrying Amount	$ 60	71
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	4 years 10 months 24 days
Gross Carrying Amount	$ 1,430	1,430
Accumulated Amortization	(727)	(584)
Net Carrying Amount	$ 703	846
Other
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	3 years 4 months 24 days
Gross Carrying Amount	$ 684	653
Accumulated Amortization	(213)	(87)
Net Carrying Amount	$ 471	$ 566

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Apr. 30, 2020	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Aggregate amortization expense		$ 1,800,000	$ 1,800,000
Seamap
Segment Reporting Information [Line Items]
Impairment of intangible assets		0
Goodwill, impairment	$ 2,500,000
Klein Associates Inc.
Segment Reporting Information [Line Items]
Impairment of intangible assets		0
Impairment of indefinite lived intangible assets		$ 760,000

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense Related to Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 1,266
2023	1,125
2024	989
2025	828
2026	658
Thereafter	1,884
Net Carrying Amount	$ 6,750	$ 8,136

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Payables and Accruals [Abstract]
Contract settlement	$ 968	$ 228
Wages and benefits	577	317
Customer deposits	484	239
Accrued inventory	0	229
Other	883	552
Accrued Expenses and Other Liabilities	$ 2,912	$ 1,565

Notes Payable (Details) - USD ($) $ in Thousands		1 Months Ended		12 Months Ended
Notes Payable (Details) - USD ($) $ in Thousands	May 05, 2020	Feb. 28, 2021	Jan. 31, 2021	Jan. 31, 2021	Jan. 31, 2020
Debt Instrument [Line Items]
Proceeds from PPP loans				$ 1,607	$ 0
Paycheck Protection Program, CARES Act
Debt Instrument [Line Items]
Proceeds from PPP loans	$ 1,600
Interest rate (as a percent)	1.00%
Loan forgiveness			$ 757
Paycheck Protection Program, CARES Act \| Klein Associates Inc. \| Subsequent Event
Debt Instrument [Line Items]
Loan forgiveness		$ 850

Stockholders' Equity - Additional Information (Detail)	12 Months Ended
Stockholders' Equity - Additional Information (Detail)	Jan. 31, 2021 quarterlyPeriod $ / shares shares	Jan. 31, 2020 shares	Aug. 03, 2020 shares	Aug. 02, 2020 shares
Statement Of Shareholders Equity [Line Items]
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000	2,000,000	1,000,000
Preferred stock, shares outstanding (in shares)	1,038,000	994,000
Number of quarterly periods to obtain voting rights \| quarterlyPeriod	6
Common stock, shares authorized (in shares)	40,000,000	40,000,000	40,000,000	20,000,000
Common stock, shares issued (in shares)	15,681,000	14,049,000
Treasury stock, shares (in shares)	1,929,000	1,929,000
Shares surrendered in exchange for payment of taxes (in shares)	0	0
Series A Preferred Stock - $1.00 par value per share
Statement Of Shareholders Equity [Line Items]
Preferred stock, shares outstanding (in shares)	1,038,232	994,046
Preferred stock, dividend rate	9.00%
Preferred stock, liquidation preference per share (in usd per share) \| $ / shares	$ 25.00
Preferred stock, dividend rate (in usd per share) \| $ / shares	2.25
Preferred stock, redemption price (in usd per share) \| $ / shares	$ 25.00
Preferred stock, redemption period (in days)	120 days
Period of time for listing (in days)	180 days

Related Party Transaction - Additional Information (Detail) - USD ($)		12 Months Ended		13 Months Ended
	Oct. 07, 2016	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Sep. 30, 2020	Aug. 03, 2020	Aug. 02, 2020
Related Party Transaction [Line Items]
Maximum number of preferred stock to be issued (in shares)		2,000,000	2,000,000	2,000,000		2,000,000	1,000,000
Common stock, shares authorized (in shares)		40,000,000	40,000,000	40,000,000		40,000,000	20,000,000
Common stock, par value (in usd per share)		$ 0.01	$ 0.01	$ 0.01
Net proceeds from common stock offering		$ 3,584,000	$ 0
Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Common stock, shares authorized (in shares)					5,000,000
Common stock, par value (in usd per share)					$ 0.01
Former CEO
Related Party Transaction [Line Items]
Interest rate on obligation payable to related party		4.00%
Outstanding obligation payable to related party, current		$ 968,000		$ 968,000
Series A Preferred Stock - $1.00 par value per share \| Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Maximum number of preferred stock to be issued (in shares)	500,000				500,000
Percentage of compensation fees to be paid	2.00%
Stock issued during period (in shares)		44,186		994,046
Preferred stock issued from at the market sale of stock program (as a percent)		100.00%
Gross proceeds from preferred stock		$ 1,000,000.0
Equity distribution compensation expenses		20,408
Net proceeds from preferred stock		1,000,000.0
Series A Preferred Stock - $1.00 par value per share \| Non-Executive Chairman
Related Party Transaction [Line Items]
Equity distribution compensation expenses		$ 0
Common Stock \| Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Stock issued during period (in shares)		1,584,556
Equity distribution compensation expenses		$ 79,307
Gross proceeds from common stock		4,000,000.0
Net proceeds from common stock offering		3,600,000
Common Stock \| Non-Executive Chairman
Related Party Transaction [Line Items]
Equity distribution compensation expenses		$ 0

Income Taxes - Reconciliation of Income Taxes by Jurisdiction (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
(Loss) income from continuing operations before income taxes is attributable to the following jurisdictions:
Domestic	$ (8,851)	$ (7,550)
Foreign	(4,615)	1,360
Loss from continuing operations before income taxes	(13,466)	(6,190)
Current:
Domestic	22	27
Foreign	515	58
Total	537	85
Deferred:
Domestic	0	0
Foreign	(1)	268
Total	(1)	268
Income tax expense	$ 536	$ 353

Income Taxes - Reconciliation of Expected to Actual Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Reconciliation of expected to actual income tax expense
Federal income tax at 21%	$ (2,828)	$ (1,300)
Federal income tax rate (as a percent)	21.00%	21.00%
Changes in tax rates	$ (50)	$ 50
Permanent differences	413	52
Foreign effective tax rate differential	66	(80)
Foreign withholding taxes, including penalties and interest	29	34
Tax effect of book loss on disposition of subsidiaries	0	79
Valuation allowance on deferred tax assets	2,682	1,205
Excess tax deficiency for share-based payments under ASU 2016-09	66	284
Other	158	29
Income tax expense	$ 536	$ 353

Income Taxes - Company's Deferred Taxes (Detail) - USD ($)	Jan. 31, 2021	Jan. 31, 2020
Deferred tax assets:
Net operating losses	$ 17,177,000	$ 13,716,000
Tax credit carry forwards	139,000	117,000
Stock option book expense	718,000	650,000
Allowance for doubtful accounts	0	229,000
Inventory	565,000	525,000
Accruals not yet deductible for tax purposes	281,000	357,000
Fixed assets	232,000	105,000
Intangible assets	445,000	337,000
Other	599,000	561,000
Gross deferred tax assets	20,156,000	16,597,000
Valuation allowance	(20,156,000)	(16,597,000)
Deferred tax assets	0	0
Deferred tax liabilities:
Other	(198,000)	(200,000)
Deferred tax liabilities	(198,000)	(200,000)
Unrecognized tax benefits	0	0
Total deferred tax liabilities, net	$ (198,000)	$ (200,000)

Income Taxes - Additional Information (Detail) - USD ($)	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Deferred tax liability associated with the undistributed foreign earnings	$ 0
Deferred tax assets, stock based compensation	718,000	$ 650,000
Valuation allowance, deferred tax assets	20,156,000	16,597,000
Tax credit carry forwards	139,000
Unrecognized tax benefits	$ 0	$ 0

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2021 USD ($)	Jan. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Total potential commitment		$ 1,600
Payment of commitment	$ 300
Purchase orders outstanding	$ 3,900	$ 3,900

Stock Option Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Stock Based Compensation [Line Items]
Compensation expense related to stock-based awards granted	$ 708,000	$ 854,000
Weighted average grant-date fair value of options granted (in usd per share)	$ 0.70	$ 1.77
Excess tax benefit from share-based compensation	$ 0	$ 0
Vesting period of stock options granted and outstanding (in years)	3 years
Contractual term of stock options granted and outstanding (in years)	10 years
Shares available for grant (in shares)	615,000
Options exercised (in shares)	0	9,000
Intrinsic value of options exercised		$ 0
Fair value of options vested	$ 950,000	$ 650,000
Options vested (in shares)	500,000
Total unrecognized compensation expense related to unvested stock options	$ 482,228
Expense expected to be recognized over weighted average period (in years)	1 year 3 months 18 days
Restricted Stock
Stock Based Compensation [Line Items]
Total unrecognized compensation expense related to unvested restricted stock awards	$ 0

Stock Option Plans - Schedule of Fair Value Option Award (Detail)	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate, minimum	0.34%	1.47%
Risk free interest rate, maximum	0.37%	2.53%
Expected life (in years)	10 years
Expected volatility, minimum	53.00%	49.00%
Expected volatility, maximum	64.00%	51.00%
Expected dividend yield	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	3 years 11 months 19 days	3 years 11 months 23 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	5 years 11 months 19 days	6 years

Stock Option Plans - Summary of Company's Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Number of Shares (in thousands)
Outstanding, beginning (in shares)	2,440,000
Granted (in shares)	320,000
Exercised (in shares)	0	(9,000)
Forfeited (in shares)	(41,000)
Expired (in shares)	(133,000)
Outstanding, ending (in shares)	2,586,000	2,440,000
Exercisable (in shares)	1,778,000
Vested and expected to vest (in shares)	2,562,000
Weighted Average Exercise Price
Outstanding beginning (in usd per share)	$ 4.51
Granted (in usd per share)	1.47
Exercised (in usd per share)	0
Forfeited (in usd per share)	4.63
Expired (in usd per share)	5.31
Outstanding ending (in usd per share)	4.09	$ 4.51
Exercisable (in usd per share)	4.63
Vested and expected to vest (in usd per share)	$ 4.12
Weighted Average Remaining Contractual Term (in years)
Outstanding (in years)	6 years 6 months 29 days	7 years 29 days
Exercisable (in years)	5 years 8 months 15 days
Vested and expected to vest (in years)	6 years 6 months 18 days
Aggregate Intrinsic Value (in thousands)
Outstanding	$ 223	$ 20
Exercisable	0
Vested and expected to vest	$ 213

Stock Option Plans - Restricted Stock and Changes During Period (Detail) - Restricted Stock shares in Thousands	12 Months Ended
	Jan. 31, 2021 $ / shares shares
Number of Shares (in thousands)
Unvested, beginning of period (in shares) \| shares	37
Granted (in shares) \| shares	15
Vested (in shares) \| shares	(12)
Canceled (in shares) \| shares	0
Unvested, end of period (in shares) \| shares	40
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in usd per share) \| $ / shares	$ 3.98
Granted (in usd per share) \| $ / shares	1.25
Vested (in usd per share) \| $ / shares	3.98
Canceled (in usd per share) \| $ / shares	0
Unvested, end of period (in usd per share) \| $ / shares	$ 2.94

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Jan. 31, 2021 segment
Segment Reporting [Abstract]
Number of operating segments	1

Corporate Restructuring (Details) - shares	Jan. 31, 2021	Aug. 03, 2020	Aug. 02, 2020	Jan. 31, 2020
Restructuring and Related Activities [Abstract]
Capital stock, shares authorized (in shares)		42,000,000	21,000,000
Common stock, shares authorized (in shares)	40,000,000	40,000,000	20,000,000	40,000,000
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000	1,000,000	2,000,000

Concentrations - Additional Information (Detail) $ in Millions	12 Months Ended
	Jan. 31, 2021 USD ($)
Concentration Risk [Line Items]
Foreign bank deposits	$ 2.8
Top three customers exceeding 10% of consolidated accounts receivable \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)	10.00%

Sales and Major Customers - Summary of Company's Revenues from Customers by Geographic Region, Outside the U.S. (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Revenue, Major Customer [Line Items]
Total revenues	$ 21,215	$ 29,919
Total
Revenue, Major Customer [Line Items]
Total revenues	17,528	25,999
UK/Europe
Revenue, Major Customer [Line Items]
Total revenues	8,005	14,975
Canada
Revenue, Major Customer [Line Items]
Total revenues	1,267	3,519
Latin America
Revenue, Major Customer [Line Items]
Total revenues	0	262
Asia/South Pacific
Revenue, Major Customer [Line Items]
Total revenues	6,523	5,377
Eurasia
Revenue, Major Customer [Line Items]
Total revenues	507	290
Other
Revenue, Major Customer [Line Items]
Total revenues	$ 1,226	$ 1,576

- Definition

+ References

+ Details

Sale of Subsidiary (Details) - Seismic Asia Pacific Pty Ltd - Disposal Group, Disposed of by Sale, Not Discontinued Operations - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2019	Jan. 31, 2021	Aug. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of subsidiary	$ 660
Proceeds in cash from sale of subsidiary	$ 240
Note receivable term (in years)	2 years
Proceeds in note receivable from sale of subsidiary	$ 420
Working capital adjustment			$ 114
Proceeds from note receivable		$ 124

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Allowance for doubtful accounts
Allowance for Doubtful Accounts and Allowance for Obsolete Equipment and Inventory [Roll Forward]
Balance at Beginning of Period	$ 4,054	$ 2,113
Charged to Costs and Expenses	1,129	2,000
Charged to Other Accounts	(43)	0
Deductions Describe	(3,364)	(59)
Balance at End of Period	1,776	4,054
Allowance for obsolete equipment and inventory
Allowance for Doubtful Accounts and Allowance for Obsolete Equipment and Inventory [Roll Forward]
Balance at Beginning of Period	1,404	1,222
Charged to Costs and Expenses	321	298
Charged to Other Accounts	1	1
Deductions Describe	(66)	(117)
Balance at End of Period	$ 1,660	$ 1,404