Quarterly report [Sections 13 or 15(d)]

Note 20 - Income Taxes

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Note 20 - Income Taxes
6 Months Ended
May 31, 2025
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

20.

INCOME TAXES

 

For the three months ended May 31, 2025, the Company recorded $0.9 million of income tax expense. For the three months ended  May 31, 2024, the Company recorded a nominal amount of income tax expense. For the three months ended May 31, 2025 and May 31, 2024, the effective tax rate was 23.3% and 0.1%, respectively. For the six months ended May 31, 2025, the Company recorded $1.0 million of income tax expense. For the six months ended May 31, 2024, the Company recorded a nominal amount of income tax expense. For the six months ended May 31, 2025 and May 31, 2024, the effective tax rate was 17.2% and 0.2%, respectively. The Company’s tax rate differs from the statutory rate of 21.0% due to the effects of state taxes net of federal benefit, the foreign tax rate differential as a result of Byrna South Africa, effects of permanent non-deductible expenses, and other effects.