Annual report [Section 13 and 15(d), not S-K Item 405]

Note 17 - Income Taxes (Tables)

v3.25.4
Note 17 - Income Taxes (Tables)
12 Months Ended
Nov. 30, 2025
Notes Tables  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
   

Year Ended November 30,

 
   

2025

   

2024

 

United States

  $ 12,418     $ 8,226  

Foreign

    (677 )     (1,142 )

Total

  $ 11,741     $ 7,084  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

Year Ended November 30,

 
   

2025

   

2024

 

Current expense:

               

Federal

  $ 67     $ 6  

State

    267       123  

Foreign

    17        

Total current expense:

    351       129  
                 

Deferred expense (benefit):

               

Federal

    1,832       (5,164 )

State

    (129 )     (673 )

Foreign

           

Total deferred expense (benefit)

    1,703       (5,837 )
                 

Total income tax provision (benefit)

  $ 2,054     $ (5,708 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

Year Ended November 30,

 
   

2025

   

2024

 

Income at US statutory rate

    21.00 %     21.00 %

State income taxes

    0.74 %     3.15 %

Permanent differences

    (1.82 )%     15.06 %

Foreign rate differential

    (0.35 )%     (0.96 )%

Valuation allowance

    (0.33 )%     (118.75 )%

Tax credits

    (2.03 )%     (4.41 )%

Other

    0.28 %     4.60 %

Total

    17.49 %     (80.31 )%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

November 30,

 
   

2025

   

2024

 

Net operating loss ("NOL") carryforwards

  $ 2,002     $ 3,438  

Research and development tax credits

    430       318  

Stock-based compensation

    1,230       1,033  

Inventory reserve

    110       107  

Allowance for current expected credit losses

    14       70  

Personnel costs

    949       879  

Warranty reserves

    35       57  

Foreign tax credit carryforwards

    9       9  

Capital loss carryover

    118       115  

Unrealized losses

    23       14  

Deferred revenue

          21  

Lease liability

    535       583  

Research and experimental capitalization

    1,113       802  

Business interest limitation

    425       325  

Subtotal deferred tax assets

    6,993       7,771  

Valuation allowance

    (775 )     (837 )

Total deferred tax assets

    6,218       6,934  
                 

Depreciation and amortization

    (1,619 )     (555 )

Right of use asset

    (465 )     (542 )

Total deferred tax liabilities

    (2,084 )     (1,097 )
                 

Net deferred tax assets (liabilities)

  $ 4,134     $ 5,837