Annual report pursuant to Section 13 and 15(d)

Goodwill

v3.23.1
Goodwill
 12 Months Ended
Jan. 31, 2023
Goodwill  
Goodwill

Note 9. Goodwill

 

Goodwill consisted of the following (in thousands):

 

 

 

As of January 31,

 

 

 

2023

 

 

2022

 

832 Acquisition

 

 $ 1,651

 

 

 $ 1,651

 

Mercury Acquisition

 

 

 -

 

 

 

 1,319

 

Vengar Acquisition

 

 

 14,853

 

 

 

 14,853

 

Total goodwill

 

 $ 16,504

 

 

 $ 17,823

 

 

Management considered the net losses since the Mercury acquisition as well as cash flow projections as indicators that a potential impairment of the goodwill related to Mercury may have occurred. Based on further analysis, management decided there was an impairment of goodwill. For the year ended January 31, 2023, the Company recorded an impairment charge of $1.3 million.