0001628280-21-018340 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jul. 31, 2021	Sep. 08, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2021
Document Transition Report	false
Entity File Number	001-13490
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,774,104
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000926423
Current Fiscal Year End Date	--01-31
Common Stock - $0.01 par value per share
Document 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
Document 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

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,056	$ 4,611
Accounts receivable, net of allowance for doubtful accounts of $481 and $948 at July 31, 2021 and January 31, 2021, respectively	5,100	4,747
Inventories, net	11,928	11,453
Prepaid expenses and other current assets	1,190	1,659
Assets held for sale	3,312	4,321
Total current assets	23,586	26,791
Property and equipment, net	4,440	4,751
Operating lease right-of-use assets	1,568	1,471
Intangible assets, net	6,455	6,750
Total assets	36,049	39,763
Current liabilities:
Accounts payable	2,148	1,704
Deferred revenue	459	208
Accrued expenses and other current liabilities	2,651	2,912
Income taxes payable	1,002	1,041
Operating lease liabilities - current	567	1,008
Liabilities held for sale	705	963
Total current liabilities	7,532	7,836
Operating lease liabilities - non-current	1,001	463
Notes payable	0	850
Deferred tax liability	198	198
Total liabilities	8,731	9,347
Stockholders’ equity:
Preferred stock, $1.00 par value; 2,000 shares authorized; 1,223 and 1,038 shares issued and outstanding at July 31, 2021 and January 31, 2021, respectively	27,606	23,104
Common stock, $0.01 par value; 40,000 shares authorized; 15,704 and 15,681 shares issued at July 31, 2021 and January 31, 2021, respectively	157	157
Additional paid-in capital	128,519	128,241
Treasury stock, at cost (1,931 and 1,929 shares at July 31, 2021 and January 31, 2021, respectively)	(16,862)	(16,860)
Accumulated deficit	(107,780)	(99,870)
Accumulated other comprehensive loss	(4,322)	(4,356)
Total stockholders’ equity	27,318	30,416
Total liabilities and stockholders’ equity	$ 36,049	$ 39,763

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
ASSETS
Allowance for doubtful accounts, current	$ 481	$ 948
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)	1,223,000	1,038,000
Preferred stock, shares outstanding (in shares)	1,223,000	1,038,000
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)	15,704,000	15,681,000
Treasury stock, shares (in shares)	1,931,000	1,929,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Revenues:
Total revenues	$ 6,807	$ 5,086	$ 11,001	$ 8,273
Cost of sales:
Total cost of sales	4,583	3,069	8,234	5,772
Gross profit	2,224	2,017	2,767	2,501
Operating expenses:
Selling, general and administrative	3,378	2,988	7,195	5,942
Research and development	888	755	1,741	1,165
Impairment of intangible assets	0	0	0	2,531
Depreciation and amortization	557	700	1,223	1,430
Total operating expenses	4,823	4,443	10,159	11,068
Operating loss	(2,599)	(2,426)	(7,392)	(8,567)
Other income:
Other, net	57	0	1,004	56
Total other income	57	0	1,004	56
Loss from continuing operations before income taxes	(2,542)	(2,426)	(6,388)	(8,511)
(Provision) benefit for income taxes	(197)	530	(52)	188
Loss from continuing operations	(2,739)	(1,896)	(6,440)	(8,323)
Income (loss) from discontinued operations, net of income taxes	79	(4,708)	(204)	(4,923)
Net loss	(2,660)	(6,604)	(6,644)	(13,246)
Preferred stock dividends	(682)	(559)	(1,266)	(1,118)
Net loss attributable to common stockholders	(3,342)	(7,163)	(7,910)	(14,364)
Net loss attributable to common stockholders	$ (3,342)	$ (7,163)	$ (7,910)	$ (14,364)
Net loss per common share - Basic
Continuing operations (in usd per share)	$ (0.25)	$ (0.20)	$ (0.56)	$ (0.78)
Discontinued operations (in usd per share)	0.01	(0.39)	(0.01)	(0.40)
Net loss (in usd per share)	(0.24)	(0.59)	(0.57)	(1.18)
Net loss per common share - Diluted
Continuing operations (in usd per share)	(0.25)	(0.20)	(0.56)	(0.78)
Discontinued operations (in usd per share)	0.01	(0.39)	(0.01)	(0.40)
Net loss (in usd per share)	$ (0.24)	$ (0.59)	$ (0.57)	$ (1.18)
Shares used in computing net loss per common share:
Basic (in shares)	13,774	12,182	13,767	12,177
Diluted (in shares)	13,774	12,182	13,767	12,177
Revenue from Contract with Customer, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss attributable to common stockholders	$ (3,342)	$ (7,163)	$ (7,910)	$ (14,364)
Changes in cumulative translation adjustment	(23)	82	34	(49)
Comprehensive loss	$ (3,365)	$ (7,081)	$ (7,876)	$ (14,413)

- 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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash flows from operating activities:
Net loss	$ (6,644)	$ (13,246)
Adjustments to reconcile net loss to net cash used in operating activities:
PPP loan forgiveness	(850)	0
Depreciation and amortization	1,226	3,210
Stock-based compensation	236	449
Impairment of intangible assets	0	2,531
Loss on disposal of discontinued operations	0	1,859
(Recovery) provision for doubtful accounts, net of charge offs	(453)	470
Provision for inventory obsolescence	350	234
Gross profit from sale of lease pool equipment	0	(1,326)
Gross profit from sale of other equipment	(155)	0
Deferred tax expense	0	263
Changes in:
Accounts receivable	(140)	4,404
Unbilled revenue	21	(9)
Inventories	(542)	(675)
Prepaid expenses and other current and long-term assets	(260)	766
Income taxes receivable and payable	(63)	0
Accounts payable, accrued expenses and other current liabilities	375	(1,583)
Deferred revenue	(292)	87
Net cash used in operating activities	(7,191)	(2,566)
Cash flows from investing activities:
Purchases of seismic equipment held for lease	0	(110)
Purchases of property and equipment	(14)	(302)
Sale of used lease pool equipment	0	2,010
Sale of assets held for sale	484	0
Sale of a business	761	0
Net cash provided by investing activities	1,231	1,598
Cash flows from financing activities:
Purchase of treasury stock	(2)	0
Net proceeds from preferred stock offering	4,502	0
Net proceeds from common stock offering	43	0
Preferred stock dividends	(1,160)	(1,118)
Proceeds from PPP loans	0	1,607
Net cash provided by financing activities	3,383	489
Effect of changes in foreign exchange rates on cash, cash equivalents and restricted cash	22	(117)
Net decrease in cash, cash equivalents and restricted cash	(2,555)	(596)
Cash, cash equivalents and restricted cash, beginning of period	4,611	3,234
Cash, cash equivalents and restricted cash, end of period	2,056	2,638
Supplemental cash flow information:
Interest paid	18	23
Income taxes paid	$ 147	$ 246

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Loss	Common Stock Including Additional Paid-In Capital
Beginning balances (in shares) at Jan. 31, 2020		14,097	994
Beginning 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	(6,642)					(6,642)
Foreign currency translation	(131)						(131)
Preferred stock dividends	(559)					(559)
Stock-based compensation	230			230
Ending balances (in shares) at Apr. 30, 2020		14,097	994
Ending balances at Apr. 30, 2020	40,550	$ 141	$ 22,104	124,194	(16,860)	(84,511)	(4,518)
Beginning balances (in shares) at Jan. 31, 2020		14,097	994
Beginning 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	(13,246)
Ending balances (in shares) at Jul. 31, 2020		14,097	994
Ending balances at Jul. 31, 2020	33,688	$ 141	$ 22,104	124,413	(16,860)	(91,674)	(4,436)
Beginning balances (in shares) at Apr. 30, 2020		14,097	994
Beginning balances at Apr. 30, 2020	40,550	$ 141	$ 22,104	124,194	(16,860)	(84,511)	(4,518)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,604)					(6,604)
Foreign currency translation	82						82
Preferred stock dividends	(559)					(559)
Stock-based compensation	219			219
Ending balances (in shares) at Jul. 31, 2020		14,097	994
Ending balances at Jul. 31, 2020	33,688	$ 141	$ 22,104	124,413	(16,860)	(91,674)	(4,436)
Beginning balances (in shares) at Jan. 31, 2021		15,681	1,038
Beginning balances at Jan. 31, 2021	30,416	$ 157	$ 23,104	128,241	(16,860)	(99,870)	(4,356)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,984)					(3,984)
Foreign currency translation	57						57
Restricted stock issued (in shares)		5
Restricted stock issued	11			11
Restricted stock forfeited for taxes	(2)				(2)
Stock offering (in shares)		18	21
Stock offering			$ 503	42				$ 42
Preferred stock dividends	(584)					(584)
Stock-based compensation	109			109
Ending balances (in shares) at Apr. 30, 2021		15,704	1,059
Ending balances at Apr. 30, 2021	26,568	$ 157	$ 23,607	128,403	(16,862)	(104,438)	(4,299)
Beginning balances (in shares) at Jan. 31, 2021		15,681	1,038
Beginning balances at Jan. 31, 2021	30,416	$ 157	$ 23,104	128,241	(16,860)	(99,870)	(4,356)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,644)
Ending balances (in shares) at Jul. 31, 2021		15,704	1,223
Ending balances at Jul. 31, 2021	27,318	$ 157	$ 27,606	128,519	(16,862)	(107,780)	(4,322)
Beginning balances (in shares) at Apr. 30, 2021		15,704	1,059
Beginning balances at Apr. 30, 2021	26,568	$ 157	$ 23,607	128,403	(16,862)	(104,438)	(4,299)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,660)					(2,660)
Foreign currency translation	(23)						(23)
Stock offering (in shares)			164
Stock offering			$ 3,999	1				$ 1
Preferred stock dividends	(682)					(682)
Stock-based compensation	115			115
Ending balances (in shares) at Jul. 31, 2021		15,704	1,223
Ending balances at Jul. 31, 2021	$ 27,318	$ 157	$ 27,606	$ 128,519	$ (16,862)	$ (107,780)	$ (4,322)

Organization	6 Months Ended
Organization	Jul. 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 15 - “Corporate Restructuring”, to the condensed consolidated financial statements. 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 (the “Leasing Business”). Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 3 – “Assets Held for Sale and Discontinued Operations” for additional details). All intercompany transactions and balances have been eliminated in consolidation. The lingering impacts of the global pandemic and emerging supply chain disruptions have created uncertainty in the global economy which could have a material adverse effect on the Company’s business, financial position, results of operations and liquidity. In addition, the Company has a history of operating losses and has had negative cash from operating activities. However, as of July 31, 2021, the Company has no funded debt or obligations containing financial covenants, working capital of approximately $16.1 million, including cash of approximately $2.1 million, backlog of firm orders of approximately $11.7 million, the ability, and plans, to reduce costs to maintain positive cash flow, additional equity available to raise further capital, and lease pool equipment being actively marketed for sale. Based on these factors, management expects the Company to continue to meet its obligations as they arise over the next twelve months.

Basis of Presentation	6 Months Ended
Basis of Presentation	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of January 31, 2021 for the Company has been derived from audited consolidated financial statements. The unaudited interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2021 (“fiscal 2021”). In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of July 31, 2021, the results of operations for the three and six months ended July 31, 2021 and 2020, the cash flows for the six months ended July 31, 2021 and 2020, and the statement of stockholders’ equity for the three and six months ended July 31, 2021 and 2020, have been included in these condensed consolidated financial statements. The foregoing interim results are not necessarily indicative of the results of operations to be expected for the full fiscal year ending January 31, 2022 (“fiscal 2022”). We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. On the consolidated balance sheets, income taxes payable, not related to discontinued operations has been reclassified from “Current liabilities held for sale” to “Current income taxes payable.”

Assets Held for Sale and Discontinued Operations

6 Months Ended

Jul. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

Assets Held for Sale and Discontinued OperationsOn July 27, 2020, the Board determined to exit the Leasing Business, which comprises essentially all operations of the Equipment Leasing segment. As a result, the assets, excluding cash, and liabilities of the Leasing Business are considered held for sale and the operations of the business are reported as discontinued operations as of July 31, 2021 and for all comparative periods presented in these condensed consolidated financial statements. The Company originally anticipated selling the discontinued operations in multiple transactions, which may involve the sale of legal entities, assets, or a combination of both, within the twelve months ending July 31, 2021.

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


	July 31, 2021		January 31, 2021
Current assets of discontinued operations:


Accounts receivable, net	1,151		1,668

Inventories, net	68		352

Prepaid expenses and other current assets	120		150


Seismic equipment lease pool and property and equipment, net	1,973		2,151








Total assets of discontinued operations	$	3,312	$	4,321

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


	July 31, 2021		January 31, 2021
Current liabilities of discontinued operations:
Accounts payable	$	21	$	59

Deferred revenue	73		73
Accrued expenses and other current liabilities	611		831







Total liabilities of discontinued operations	705		963

The results of operations from discontinued operations for the three and six months ended July 31, 2021 and 2020, consist of the following:


	For the Three Months Ended July 31,				For the Six Months Ended July 31,
	2021		2020		2021		2020
Revenues:
Revenue from discontinued operations	$	757	$	1,230	$	787	$	5,418
Cost of sales:
Cost of discontinued operations	332		1,642		705		4,126
Operating expenses:
Selling, general and administrative	378		1,476		720		3,176
Provision for doubtful accounts	(2)		470		(445)		470

Depreciation and amortization	2		41		3		85
Total operating expenses	378		1,987		278		3,731
Operating income (loss)	47		(2,399)		(196)		(2,439)
Other income (expenses)	35		72		(4)		75
Loss on disposal (including $2,745 of cumulative translation loss)	—		(1,859)		—		(1,859)
Income (loss) before income taxes	82		(4,186)		(200)		(4,223)
Provision for income taxes	(3)		(522)		(4)		(700)
Net income (loss)	79		(4,708)		(204)		(4,923)

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


	For the Six Months Ended July 31,
		2021		2020
Depreciation and amortization		$	—	$	1,771
Gross profit from sale of lease pool equipment		$	—	$	(1,324)
(Recovery) provisions for doubtful accounts		$	(445)	$	470

Loss on disposal of discontinued operations		$	—	$	1,859
Sale of used lease pool equipment		$	—	$	1,988
Sale of assets held for sale		$	1,245	$	—

New Accounting Pronouncements	6 Months Ended
New Accounting Pronouncements	Jul. 31, 2021
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (“Topic 740”): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740 and by clarifying and amending existing guidance to improve consistent application. This ASU is effective for the annual period beginning after December 15, 2020, including interim periods within that annual period. The Company adopted this ASU effective February 1, 2021, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurement by removing, modifying and adding certain disclosures. This ASU is effective for the annual period beginning after December 15, 2019, including interim periods within that annual period. The Company adopted this guidance effective February 1, 2020. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 65
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+ Details

Revenue from Contracts with Customers

6 Months Ended

Jul. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

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


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
Revenue recognized at a point in time:	(in thousands)
Seamap	$	5,256	$	3,881	$	8,169	$	5,870
Klein	1,406		1,004		2,556		2,002

Total revenue recognized at a point in time	$	6,662	$	4,885	$	10,725	$	7,872
Revenue recognized over time:
Seamap	$	145	$	201	$	276	$	401


Total revenue recognized over time	145		201		276		401
Total revenue from contracts with customers	$	6,807	$	5,086	$	11,001	$	8,273

The revenue from products manufactured and sold by our Seamap and Klein businesses 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 Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA’s is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract, which is typically twelve months.

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


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
	(in thousands)
United States	$	219	$	686	$	578	$	1,786
Europe	3,520		1,604		6,102		2,980
Middle East & Africa	675		221		689		297
Asia-Pacific	2,188		2,222		2,893		2,499
Canada & Latin America	205		353		739		711
Total revenue from contracts with customers	$	6,807	$	5,086	$	11,001	$	8,273

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


	July 31, 2021		January 31, 2021
Contract Assets:	(in thousands)
Unbilled revenue - current	$	106	$	85

Total unbilled revenue	$	106	$	85
Contract Liabilities:
Deferred revenue & customer deposits - current	$	399	$	691

Total deferred revenue & customer deposits	$	399	$	691

Considering the products manufactured and sold by our Seamap and Klein businesses and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a period of three to nine months.

Pursuant to our accounting policies and procedures related to revenue from contracts with customers, sales and transaction-based taxes are excluded from revenue. Also, we do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Additionally, we expense costs incurred to obtain contracts when incurred because the amortization period would have been one year or less. These costs are recorded in selling, general and administrative expenses.

- 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
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Balance Sheet - Continuing Operations

6 Months Ended

Jul. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet - Continuing Operations


	As of July 31, 2021		As of January 31, 2021
	(in thousands)
Accounts receivable	$	5,581	$	5,695
Less allowance for doubtful accounts	(481)		(948)
Accounts receivable net of allowance for doubtful accounts	$	5,100	$	4,747


	July 31, 2021		January 31, 2021
	(in thousands)
Inventories:
Raw materials	$	7,468	$	6,905
Finished goods	3,455		3,466
Work in progress	2,404		2,445
	13,327		12,816
Less allowance for obsolescence	(1,399)		(1,363)
Total inventories, net	$	11,928	$	11,453


	July 31, 2021		January 31, 2021
	(in thousands)
Property and equipment:
Marine seismic service equipment	$	4,157	$	5,969
Land and buildings	4,422		4,354
Furniture and fixtures	9,899		9,750
Autos and trucks	491		491
	18,969		20,564
Accumulated depreciation and amortization	(14,529)		(15,813)
Total property and equipment, net	$	4,440	$	4,751

As of January 31, 2021, the Company completed an annual review of long-lived assets noting that the undiscounted future cash flows exceeded their carrying value and no impairment was recorded. Since January 31, 2021, there have been no significant changes to the market, economic or legal environment in which the Company operates that would indicate additional impairment analysis is necessary as of July 31, 2021.

Leases

6 Months Ended

Jul. 31, 2021

Leases [Abstract]

Leases

The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Hungary, Singapore, Malaysia, Colombia, United Kingdom and Canada. We negotiated the termination of our Colombia lease obligation during the current period.

Lease expense for the three and six months ended July 31, 2021 was approximately $291,000 and $600,000, respectively, and was recorded as a component of operating loss. Included in these costs was short-term lease expense of approximately $10,000 and $10,000, respectively, for the three and six months ended July 31, 2021.

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


Lease	July 31, 2021		January 31, 2021
Assets
Operating lease assets	$	1,568	$	1,471

Liabilities
Operating lease liabilities	$	1,568	$	1,471

Classification of lease liabilities
Current liabilities	$	567	$	1,008
Non-current liabilities	1,001		463
Total Operating lease liabilities	$	1,568	$	1,471

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


Lease term and discount rate	July 31, 2021		January 31, 2021
Weighted average remaining lease term (years)
Operating leases	1.26		1.09

Weighted average discount rate:
Operating leases	9.36	%	10	%

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

Supplemental cash flow information related to leases was as follows (in thousands):


Lease	Six Months Ended July 31, 2021		Six Months Ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(600)	$	(514)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	600	$	514

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


	July 31, 2021

2022	$	567
2023	667
2024	346
2025	134
2026	24
Thereafter	—
Total payments under lease agreements	$	1,738

Less: imputed interest	(170)

Total lease liabilities	$	1,568

Goodwill and Other Intangible Assets

6 Months Ended

Jul. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets


	Weighted Average Life at 7/31/2021	July 31, 2021								January 31, 2021
		Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount
Goodwill		$	7,060	$	—	$	(7,060)	$	—	$	7,060	$	—	$	(7,060)	$	—
Proprietary rights	6.4	$	8,220	$	(3,920)	$	—	$	4,300	$	7,781	$	(3,688)	$	—	$	4,093
Customer relationships	0.4	5,024		(4,748)		—		276		5,024		(4,513)		—		511
Patents	3.1	2,440		(1,653)		—		787		2,440		(1,528)		—		912
Trade name	4.8	894		(80)		(760)		54		894		(74)		(760)		60
Developed technology	4.4	1,430		(798)		—		632		1,430		(727)		—		703
Other	2.8	684		(278)		—		406		684		(213)		—		471
Amortizable intangible assets		$	18,692	$	(11,477)	$	(760)	$	6,455	$	18,253	$	(10,743)	$	(760)	$	6,750

As of January 31, 2021, the Company has recorded impairment expense equal to 100% of the gross carrying amount of goodwill. As a result, no further review of goodwill is required. On January 31, 2021, the Company completed an annual review of amortizable intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair market value of intangible assets was greater than its carrying value. During the six months ended July 31, 2021, there have been no substantive indicators of impairment.

Aggregate amortization expense was $618,000 and $794,000 for the six months ended July 31, 2021 and 2020, respectively. As of July 31, 2021, future estimated amortization expense related to amortizable intangible assets was estimated to be (in thousands):


For fiscal years ending January 31
2022	$	588
2023	1,167
2024	1,032
2025	837
2026	700
Thereafter	2,131
Total	$	6,455

Notes Payable	6 Months Ended
Notes Payable	Jul. 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, were set to mature on May 1, 2022 and bore interest at a rate of 1% per annum, payable monthly commencing on November 1, 2020. The Notes stipulated 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 would have become obligated to repay all amounts outstanding under the Notes. The Borrowers were permitted to prepay the Notes at any time prior to maturity with no prepayment penalties. Under the terms of the PPP, funds from the Loans could 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 Loans could be forgiven if the funds were used to pay qualifying expenses. In January 2021, the Loan granted to the Company in the amount of approximately $757,000 was forgiven resulting in other income of that amount. In February 2021, the Loan granted to Klein in the amount of approximately $850,000 was also forgiven, resulting in other income of that amount. As of July 31, 2021, the Company had no outstanding balance under the Loans.

Income Taxes	6 Months Ended
Income Taxes	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the six months ended July 31, 2021, the income tax expense from continuing operations was approximately $52,000 on a pre-tax net loss from continuing operations of $6.4 million. For the six months ended July 31, 2020, the benefit for income taxes from continuing operations was approximately $188,000 on a pre-tax net loss from continuing operations of $8.5 million. The variance between our actual provision and the expected provision based on the U.S. statutory rate is due primarily to recording valuation allowances against the increase in our deferred tax assets in the respective periods, permanent differences between book income and taxable income, and the effect of foreign withholding taxes. The Company files U.S. federal and state 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 Internal Revenue Service for fiscal years ended January 31, 2018 through 2021. The Company’s tax returns may also be subject to examination by state and local tax authorities for fiscal years ended January 31, 2016 through 2021. In addition, the Company's tax returns filed in foreign jurisdictions are generally subject to examination for the fiscal years ended January 31, 2016 through 2021. The Company has determined that the undistributed earnings of foreign subsidiaries are not deemed to be indefinitely reinvested outside of the United States as of July 31, 2021. Furthermore, the Company has concluded that any deferred taxes with respect to the undistributed foreign earnings would be immaterial. Therefore, the Company has not recorded a deferred tax liability associated with the undistributed foreign earnings as of July 31, 2021. For the six months ended July 31, 2021 and 2020, the Company did not recognize any tax expense or benefit related to uncertain tax positions.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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+ Details

Earnings per Share

6 Months Ended

Jul. 31, 2021

Earnings Per Share [Abstract]

Earnings per Share

Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock.

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:


	Three Months Ended July 31,		Six Months Ended July 31,
	2021	2020	2021	2020
	(in thousands)		(in thousands)
Basic weighted average common shares outstanding	13,774	12,182	13,767	12,177
Stock options	79	3	58	1
Unvested restricted stock	29	10	18	5
Total weighted average common share equivalents	108	13	76	6
Diluted weighted average common shares outstanding	13,882	12,195	13,843	12,183

For the three and six months ended July 31, 2021 and 2020, 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.

Related Party Transaction	6 Months Ended
Related Party Transaction	Jul. 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 9.00% Series A Cumulative Preferred Stock, par value $1.00 per share (the “Preferred Stock”), through an at-the-market offering program (the “1st ATM Offering Program”) administered by the Agent. The Co-Chief Executive Officer and Co-President of the Agent is the Non-Executive Chairman of our Board. Under the 1st Equity Distribution Agreement, the Agent was entitled to compensation of up to 2.0% of the gross proceeds from the sale of Preferred Stock under the 1st ATM Offering Program. As of January 31, 2020, we had issued 994,046 shares of Series A Preferred for which the Agent was entitled to compensation, including 100% of the 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 a new at-the-market offering program (the “2nd ATM Offering Program”). During the three- and six-month periods ended July 31, 2021, the Company sold 163,780 and 184,740 shares of Preferred Stock under the 2nd ATM Offering Program, respectively. Net proceeds from these sales for the three and six months ended July 31, 2021, were approximately $4.0 million and $4.5 million, respectively, and the Agent received compensation of approximately $82,000 and 92,000,respectively. The Non-Executive Chairman of the Board received no portion of this compensation. During the three- and six-month periods ended July 31, 2021, the Company sold 362 and 18,415 shares of Common Stock under the 2nd ATM Offering Program, respectively. Net proceeds from these sales for the three and six months ended July 31, 2021, were approximately $1,000 and $43,000. Compensation to the Agent during this period was approximately $1,000, none of which was received by the Non-Executive Chairman of the Board.

Equity and Stock-Based Compensation	6 Months Ended
Equity and Stock-Based Compensation	Jul. 31, 2021
Equity [Abstract]
Equity and Stock-Based Compensation	Equity and Stock-Based CompensationDuring the three months ended July 31, 2021, the Board declared quarterly dividends of $0.5625 per share for our Preferred Stock. As of July 31, 2021, there are 1,223,000 shares of Preferred Stock outstanding with an aggregate liquidation preference of approximately $30.6 million. Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three and six months ended July 31, 2021 was approximately $115,000 and $224,000, respectively, and during the three and six months ended July 31, 2020 was approximately $219,000 and $449,000, respectively.

Segment Reporting	6 Months Ended
Segment Reporting	Jul. 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. As a result, no segment reporting is required. 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

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+ Details

Corporate Restructuring	6 Months Ended
Corporate Restructuring	Jul. 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 were 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.

Subsequent Event	6 Months Ended
Subsequent Event	Jul. 31, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventSubsequent to July 31,2021, we completed an agreement for the sale of lease pool equipment reported as Assets Held for Sale (see Note 3 – “Assets Held for Sale and Discontinued Operations” for additional details) in our condensed consolidated financial statements. Under the terms of the agreement the Company will receive total proceeds of approximately $4.5 million, with approximately $2.5 million paid at closing and the balance of approximately $2.0 million paid before the end of fiscal 2022.

Organization (Policies)	6 Months Ended
Organization (Policies)	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 15 - “Corporate Restructuring”, to the condensed consolidated financial statements. 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 (the “Leasing Business”). Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 3 – “Assets Held for Sale and Discontinued Operations” for additional details). All intercompany transactions and balances have been eliminated in consolidation.
Basis of Presentation	Basis of PresentationThe condensed consolidated balance sheet as of January 31, 2021 for the Company has been derived from audited consolidated financial statements. The unaudited interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2021 (“fiscal 2021”). In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of July 31, 2021, the results of operations for the three and six months ended July 31, 2021 and 2020, the cash flows for the six months ended July 31, 2021 and 2020, and the statement of stockholders’ equity for the three and six months ended July 31, 2021 and 2020, have been included in these condensed consolidated financial statements. The foregoing interim results are not necessarily indicative of the results of operations to be expected for the full fiscal year ending January 31, 2022 (“fiscal 2022”).
Reclassification	We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. On the consolidated balance sheets, income taxes payable, not related to discontinued operations has been reclassified from “Current liabilities held for sale” to “Current income taxes payable.”
New Accounting Pronouncements	New Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (“Topic 740”): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740 and by clarifying and amending existing guidance to improve consistent application. This ASU is effective for the annual period beginning after December 15, 2020, including interim periods within that annual period. The Company adopted this ASU effective February 1, 2021, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurement by removing, modifying and adding certain disclosures. This ASU is effective for the annual period beginning after December 15, 2019, including interim periods within that annual period. The Company adopted this guidance effective February 1, 2020. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

Assets Held for Sale and Discontinued Operations (Tables)

6 Months Ended

Jul. 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:


	July 31, 2021		January 31, 2021
Current assets of discontinued operations:


Accounts receivable, net	1,151		1,668

Inventories, net	68		352

Prepaid expenses and other current assets	120		150


Seismic equipment lease pool and property and equipment, net	1,973		2,151








Total assets of discontinued operations	$	3,312	$	4,321

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


	July 31, 2021		January 31, 2021
Current liabilities of discontinued operations:
Accounts payable	$	21	$	59

Deferred revenue	73		73
Accrued expenses and other current liabilities	611		831







Total liabilities of discontinued operations	705		963

The results of operations from discontinued operations for the three and six months ended July 31, 2021 and 2020, consist of the following:


	For the Three Months Ended July 31,				For the Six Months Ended July 31,
	2021		2020		2021		2020
Revenues:
Revenue from discontinued operations	$	757	$	1,230	$	787	$	5,418
Cost of sales:
Cost of discontinued operations	332		1,642		705		4,126
Operating expenses:
Selling, general and administrative	378		1,476		720		3,176
Provision for doubtful accounts	(2)		470		(445)		470

Depreciation and amortization	2		41		3		85
Total operating expenses	378		1,987		278		3,731
Operating income (loss)	47		(2,399)		(196)		(2,439)
Other income (expenses)	35		72		(4)		75
Loss on disposal (including $2,745 of cumulative translation loss)	—		(1,859)		—		(1,859)
Income (loss) before income taxes	82		(4,186)		(200)		(4,223)
Provision for income taxes	(3)		(522)		(4)		(700)
Net income (loss)	79		(4,708)		(204)		(4,923)

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


	For the Six Months Ended July 31,
		2021		2020
Depreciation and amortization		$	—	$	1,771
Gross profit from sale of lease pool equipment		$	—	$	(1,324)
(Recovery) provisions for doubtful accounts		$	(445)	$	470

Loss on disposal of discontinued operations		$	—	$	1,859
Sale of used lease pool equipment		$	—	$	1,988
Sale of assets held for sale		$	1,245	$	—

- 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.

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+ Details

Revenue from Contracts with Customers (Tables)

6 Months Ended

Jul. 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:


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
Revenue recognized at a point in time:	(in thousands)
Seamap	$	5,256	$	3,881	$	8,169	$	5,870
Klein	1,406		1,004		2,556		2,002

Total revenue recognized at a point in time	$	6,662	$	4,885	$	10,725	$	7,872
Revenue recognized over time:
Seamap	$	145	$	201	$	276	$	401


Total revenue recognized over time	145		201		276		401
Total revenue from contracts with customers	$	6,807	$	5,086	$	11,001	$	8,273

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


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
	(in thousands)
United States	$	219	$	686	$	578	$	1,786
Europe	3,520		1,604		6,102		2,980
Middle East & Africa	675		221		689		297
Asia-Pacific	2,188		2,222		2,893		2,499
Canada & Latin America	205		353		739		711
Total revenue from contracts with customers	$	6,807	$	5,086	$	11,001	$	8,273

Contract with Customer, Asset and Liability

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


	July 31, 2021		January 31, 2021
Contract Assets:	(in thousands)
Unbilled revenue - current	$	106	$	85

Total unbilled revenue	$	106	$	85
Contract Liabilities:
Deferred revenue & customer deposits - current	$	399	$	691

Total deferred revenue & customer deposits	$	399	$	691

Balance Sheet - Continuing Operations (Tables)

6 Months Ended

Jul. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable


	As of July 31, 2021		As of January 31, 2021
	(in thousands)
Accounts receivable	$	5,581	$	5,695
Less allowance for doubtful accounts	(481)		(948)
Accounts receivable net of allowance for doubtful accounts	$	5,100	$	4,747

Schedule of Inventories


	July 31, 2021		January 31, 2021
	(in thousands)
Inventories:
Raw materials	$	7,468	$	6,905
Finished goods	3,455		3,466
Work in progress	2,404		2,445
	13,327		12,816
Less allowance for obsolescence	(1,399)		(1,363)
Total inventories, net	$	11,928	$	11,453

Schedule of Seismic Equipment Lease Pool and Property and Equipment


	July 31, 2021		January 31, 2021
	(in thousands)
Property and equipment:
Marine seismic service equipment	$	4,157	$	5,969
Land and buildings	4,422		4,354
Furniture and fixtures	9,899		9,750
Autos and trucks	491		491
	18,969		20,564
Accumulated depreciation and amortization	(14,529)		(15,813)
Total property and equipment, net	$	4,440	$	4,751

Leases (Tables)

6 Months Ended

Jul. 31, 2021

Leases [Abstract]

Supplemental Balance Sheet Information

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


Lease	July 31, 2021		January 31, 2021
Assets
Operating lease assets	$	1,568	$	1,471

Liabilities
Operating lease liabilities	$	1,568	$	1,471

Classification of lease liabilities
Current liabilities	$	567	$	1,008
Non-current liabilities	1,001		463
Total Operating lease liabilities	$	1,568	$	1,471

Supplemental Cash Flow Information

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


Lease term and discount rate	July 31, 2021		January 31, 2021
Weighted average remaining lease term (years)
Operating leases	1.26		1.09

Weighted average discount rate:
Operating leases	9.36	%	10	%

Supplemental cash flow information related to leases was as follows (in thousands):


Lease	Six Months Ended July 31, 2021		Six Months Ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(600)	$	(514)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	600	$	514

Maturities of Lease Liabilities

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


	July 31, 2021

2022	$	567
2023	667
2024	346
2025	134
2026	24
Thereafter	—
Total payments under lease agreements	$	1,738

Less: imputed interest	(170)

Total lease liabilities	$	1,568

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jul. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets


	Weighted Average Life at 7/31/2021	July 31, 2021								January 31, 2021
		Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Carrying Amount
Goodwill		$	7,060	$	—	$	(7,060)	$	—	$	7,060	$	—	$	(7,060)	$	—
Proprietary rights	6.4	$	8,220	$	(3,920)	$	—	$	4,300	$	7,781	$	(3,688)	$	—	$	4,093
Customer relationships	0.4	5,024		(4,748)		—		276		5,024		(4,513)		—		511
Patents	3.1	2,440		(1,653)		—		787		2,440		(1,528)		—		912
Trade name	4.8	894		(80)		(760)		54		894		(74)		(760)		60
Developed technology	4.4	1,430		(798)		—		632		1,430		(727)		—		703
Other	2.8	684		(278)		—		406		684		(213)		—		471
Amortizable intangible assets		$	18,692	$	(11,477)	$	(760)	$	6,455	$	18,253	$	(10,743)	$	(760)	$	6,750

Future Estimated Amortization Expense Related to Amortizable Intangible Assets

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


For fiscal years ending January 31
2022	$	588
2023	1,167
2024	1,032
2025	837
2026	700
Thereafter	2,131
Total	$	6,455

Earnings per Share (Tables)

6 Months Ended

Jul. 31, 2021

Earnings Per Share [Abstract]

Basic and Diluted Weighted Average Common Shares Used in Earnings Per Share Calculation

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:


	Three Months Ended July 31,		Six Months Ended July 31,
	2021	2020	2021	2020
	(in thousands)		(in thousands)
Basic weighted average common shares outstanding	13,774	12,182	13,767	12,177
Stock options	79	3	58	1
Unvested restricted stock	29	10	18	5
Total weighted average common share equivalents	108	13	76	6
Diluted weighted average common shares outstanding	13,882	12,195	13,843	12,183

Organization (Details) $ in Millions	Jul. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital	$ 16.1
Cash included in working capital	2.1
Backlog of firm orders	$ 11.7

Assets Held for Sale and Discontinued Operations - Schedule of Discontinued Operations, Balance Sheet (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Current assets of discontinued operations:
Total assets of discontinued operations	$ 3,312	$ 4,321
Current liabilities of discontinued operations:
Total liabilities of discontinued operations	705	963
Discontinued Operations, Held-for-sale
Current assets of discontinued operations:
Accounts receivable, net	1,151	1,668
Inventories, net	68	352
Prepaid expenses and other current assets	120	150
Seismic equipment lease pool and property and equipment, net	1,973	2,151
Total assets of discontinued operations	3,312	4,321
Current liabilities of discontinued operations:
Accounts payable	21	59
Deferred revenue	73	73
Accrued expenses and other current liabilities	611	831
Total liabilities of discontinued operations	$ 705	$ 963

Assets Held for Sale and Discontinued Operations - Schedule of Discontinued Operations, Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Operating expenses:
Loss on disposal (including $2,745 of cumulative translation loss)			$ 0	$ (1,859)
Net income (loss)	$ 79	$ (4,708)	(204)	(4,923)
Discontinued Operations, Held-for-sale
Revenues:
Revenue from discontinued operations	757	1,230	787	5,418
Cost of sales:
Cost of discontinued operations	332	1,642	705	4,126
Operating expenses:
Selling, general and administrative	378	1,476	720	3,176
Recovery of doubtful accounts	(2)		(445)
Provision for doubtful accounts		470		470
Depreciation and amortization	2	41	3	85
Total operating expenses	378	1,987	278	3,731
Operating income (loss)	47	(2,399)	(196)	(2,439)
Other income (expenses)	35	72		75
Other income (expenses)			(4)
Loss on disposal (including $2,745 of cumulative translation loss)	0	(1,859)	0	(1,859)
Cumulative translation loss		2,745		2,745
Income (loss) before income taxes	82	(4,186)	(200)	(4,223)
Provision for income taxes	(3)	(522)	(4)	(700)
Net income (loss)	$ 79	$ (4,708)	$ (204)	$ (4,923)

Assets Held for Sale and Discontinued Operations - Schedule of Discontinued Operations, Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of discontinued operations			$ 0	$ 1,859
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization			0	1,771
Gross profit from sale of lease pool equipment			0	(1,324)
(Recovery) provisions for doubtful accounts	$ (2)		(445)
(Recovery) provisions for doubtful accounts		$ 470		470
Loss on disposal of discontinued operations	$ 0	$ 1,859	0	1,859
Sale of used lease pool equipment			0	1,988
Sale of assets held for sale			$ 1,245	$ 0

Revenue from Contracts with Customers - Revenue Disaggregation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 6,807	$ 5,086	$ 11,001	$ 8,273
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	6,662	4,885	10,725	7,872
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	145	201	276	401
Seamap \| Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5,256	3,881	8,169	5,870
Seamap \| Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	145	201	276	401
Klein \| Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 1,406	$ 1,004	$ 2,556	$ 2,002

- 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=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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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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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=123359005&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=123351226&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 (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 6,807	$ 5,086	$ 11,001	$ 8,273
United States
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	219	686	578	1,786
Europe
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,520	1,604	6,102	2,980
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	675	221	689	297
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,188	2,222	2,893	2,499
Canada & Latin America
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 205	$ 353	$ 739	$ 711

- Definition

+ References

+ Details

Revenue from Contracts with Customers - Contract Assets And Liabilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jan. 31, 2021
Contract Assets:
Unbilled revenue - current	$ 106	$ 85
Total unbilled revenue	106	85
Contract Liabilities:
Deferred revenue & customer deposits - current	399	691
Total deferred revenue & customer deposits	$ 399	$ 691
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)	9 months

Balance Sheet - Continuing Operations - Accounts Receivable (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 5,581	$ 5,695
Less allowance for doubtful accounts	(481)	(948)
Accounts receivable net of allowance for doubtful accounts	$ 5,100	$ 4,747

Balance Sheet - Continuing Operations - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Inventories:
Raw materials	$ 7,468	$ 6,905
Finished goods	3,455	3,466
Work in progress	2,404	2,445
Cost of inventories	13,327	12,816
Less allowance for obsolescence	(1,399)	(1,363)
Total inventories, net	$ 11,928	$ 11,453

Balance Sheet - Continuing Operations - Schedule of Seismic Equipment Lease Pool and Property and Equipment (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Property and equipment:
Property and equipment	$ 18,969	$ 20,564
Accumulated depreciation and amortization	(14,529)	(15,813)
Total property and equipment, net	4,440	4,751
Marine seismic service equipment
Property and equipment:
Property and equipment	4,157	5,969
Land and buildings
Property and equipment:
Property and equipment	4,422	4,354
Furniture and fixtures
Property and equipment:
Property and equipment	9,899	9,750
Autos and trucks
Property and equipment:
Property and equipment	$ 491	$ 491

Balance Sheet - Continuing Operations - Additional Information (Detail)	12 Months Ended
	Jan. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment of long-lived assets	$ 0

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 31, 2021
Leases [Abstract]
Lease expense	$ 291	$ 600
Short-term lease expense	$ 10	$ 10

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Assets
Operating lease right-of-use assets	$ 1,568	$ 1,471
Liabilities
Operating lease liabilities	1,568	1,471
Current liabilities	567	1,008
Non-current liabilities	1,001	463
Total Operating lease liabilities	$ 1,568	$ 1,471
Weighted average remaining lease term (years)
Operating leases	1 year 3 months 3 days	1 year 1 month 2 days
Weighted average discount rate:
Operating leases	9.36%	10.00%

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (600)	$ (514)
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 600	$ 514

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Leases [Abstract]
2022	$ 567
2023	667
2024	346
2025	134
2026	24
Thereafter	0
Total payments under lease agreements	1,738
Less: imputed interest	(170)
Total lease liabilities	$ 1,568	$ 1,471

Goodwill and Other Intangible Assets - Schedule of Net Carrying Amount (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jan. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Gross Carrying Amount	$ 7,060	$ 7,060
Goodwill, Accumulated Impairment	(7,060)	(7,060)
Goodwill, Net Carrying Amount	0	0
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,692	18,253
Accumulated Amortization	(11,477)	(10,743)
Accumulated Impairment	(760)	(760)
Net Carrying Amount	$ 6,455	6,750
Proprietary rights
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	6 years 4 months 24 days
Gross Carrying Amount	$ 8,220	7,781
Accumulated Amortization	(3,920)	(3,688)
Net Carrying Amount	$ 4,300	4,093
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	4 months 24 days
Gross Carrying Amount	$ 5,024	5,024
Accumulated Amortization	(4,748)	(4,513)
Net Carrying Amount	$ 276	511
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	3 years 1 month 6 days
Gross Carrying Amount	$ 2,440	2,440
Accumulated Amortization	(1,653)	(1,528)
Net Carrying Amount	$ 787	912
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	4 years 9 months 18 days
Gross Carrying Amount	$ 894	894
Accumulated Amortization	(80)	(74)
Accumulated Impairment	(760)	(760)
Net Carrying Amount	$ 54	60
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	4 years 4 months 24 days
Gross Carrying Amount	$ 1,430	1,430
Accumulated Amortization	(798)	(727)
Net Carrying Amount	$ 632	703
Other
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	2 years 9 months 18 days
Gross Carrying Amount	$ 684	684
Accumulated Amortization	(278)	(213)
Net Carrying Amount	$ 406	$ 471

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jan. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment expense, percentage of gross carrying amount of goodwill			100.00%
Aggregate amortization expense	$ 618	$ 794

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense Related to Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
For fiscal years ending January 31
2022	$ 588
2023	1,167
2024	1,032
2025	837
2026	700
Thereafter	2,131
Net Carrying Amount	$ 6,455	$ 6,750

Notes Payable (Details) - USD ($)		1 Months Ended		6 Months Ended
Notes Payable (Details) - USD ($)	May 05, 2020	Feb. 28, 2021	Jan. 31, 2021	Jul. 31, 2021	Jul. 31, 2020
Debt Instrument [Line Items]
Proceeds from PPP loans				$ 0	$ 1,607,000
Paycheck Protection Program, CARES Act
Debt Instrument [Line Items]
Proceeds from PPP loans	$ 1,600,000
Interest rate (as a percent)	1.00%
Loan forgiveness			$ 757,000
Outstanding balance under the Loans				$ 0
Paycheck Protection Program, CARES Act \| Klein Associates Inc.
Debt Instrument [Line Items]
Loan forgiveness		$ 850,000

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 197,000	$ (530,000)	$ 52,000	$ (188,000)
Pre-tax net loss	2,542,000	$ 2,426,000	6,388,000	8,511,000
Deferred tax liability associated with the undistributed foreign earnings	$ 0		0
Tax expense or benefit related to uncertain tax positions			$ 0	$ 0

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Earnings per Share - Basic and Diluted Weighted Average Common Shares Used in Earnings Per Share Calculation (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	13,774	12,182	13,767	12,177
Stock options	79	3	58	1
Unvested restricted stock	29	10	18	5
Total weighted average common share equivalents	108	13	76	6
Diluted weighted average common shares outstanding	13,882	12,195	13,843	12,183

Related Party Transaction - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	Jan. 31, 2020	Jul. 31, 2021	Jul. 31, 2021	Jul. 31, 2020	Jan. 31, 2020	Jan. 31, 2021	Sep. 30, 2020	Aug. 03, 2020	Aug. 02, 2020	Dec. 18, 2019
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
Preferred stock, par value (in usd per share)		$ 1.00	$ 1.00			$ 1.00
Maximum number of common stock to be issued (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			$ 43,000	$ 0
Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Maximum number of common stock to be issued (in shares)							5,000,000
Common stock, par value (in usd per share)							$ 0.01
Series A Preferred Stock \| Non-Executive Chairman
Related Party Transaction [Line Items]
Equity distribution compensation expenses		$ 0	$ 0
Series A Preferred Stock \| Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Maximum number of preferred stock to be issued (in shares)							500,000			500,000
Preferred stock dividend rate	9.00%
Preferred stock, par value (in usd per share)										$ 1.00
Percentage of compensation fees to be paid	2.00%
Stock issued during period (in shares)	994,046	163,780	184,740
Preferred stock issued from at the market sale of stock program (as a percent)					100.00%
Net proceeds from preferred stock		$ 4,000,000	$ 4,500,000
Equity distribution compensation expenses		82,000	92,000
Common Stock \| Non-Executive Chairman
Related Party Transaction [Line Items]
Equity distribution compensation expenses		$ 0	$ 0
Common Stock \| Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Stock issued during period (in shares)		362	18,415
Equity distribution compensation expenses		$ 1,000	$ 1,000
Net proceeds from common stock offering		$ 1,000	$ 43,000

Equity and Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020	Jan. 31, 2021
Equity [Abstract]
Quarterly dividends declared (in usd per share)	$ 0.5625
Preferred stock, shares outstanding (in shares)	1,223,000		1,223,000		1,038,000
Preferred stock, liquidation preference	$ 30,600		$ 30,600
Compensation expense related to stock-based awards granted	$ 115	$ 219	$ 224	$ 449

Segment Reporting - Additional Information (Details)	6 Months Ended
Segment Reporting - Additional Information (Details)	Jul. 31, 2021 segment
Segment Reporting [Abstract]
Number of operating segments	1

Corporate Restructuring (Details) - shares	Jul. 31, 2021	Jan. 31, 2021	Aug. 03, 2020	Aug. 02, 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	40,000,000	20,000,000
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000	2,000,000	1,000,000

Subsequent Event (Details) - Subsequent Event - Discontinued Operations, Held-for-sale - Lease Pool Equipment - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Sep. 09, 2021	Jan. 31, 2022
Subsequent Event [Line Items]
Proceeds from sale of lease pool equipment	$ 4.5
Proceeds from sale of lease pool equipment, paid	$ 2.5
Forecast
Subsequent Event [Line Items]
Proceeds from sale of lease pool equipment, paid		$ 2.0