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Income Taxes (Tables)

12 Months Ended

Jul. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income before income taxes

Year ended July 31 (in thousands)		2020				2019
Domestic		$	13,380			$	6,827
Foreign			4,338				(6,374	)
INCOME BEFORE INCOME TAXES		$	17,718			$	453

Schedule of deferred income tax assets

July 31 (in thousands)		2020				2019
Deferred income tax assets:
Bad debt reserve		$	854			$	540
Accrued expenses			2,963				3,134
Stock options and restricted stock			1,226				866
Charitable contributions			659				734
Depreciation			(71	)			151
Unrealized gain			(302	)			(231	)
Net operating loss			62,588				72,625
Transaction taxes			—				2,000
Deferred revenue			(705	)			(1,060	)
Total deferred income tax assets			67,212				78,759
Valuation allowance			(58,700	)			(74,170	)
NET DEFERRED INCOME TAX ASSETS		$	8,512			$	4,589

Schedule of benefit from (provision for) income taxes

Year ended July 31 (in thousands)		2020				2019
Current:
Federal		$	—			$	—
State and local			(46	)			(15	)
Foreign			(177	)			971
			(223	)			956
Deferred:
Federal			8,345				—
State and local			12				1
Foreign			(4,434	)			(1,080	)
			3,923				(1,079	)
BENEFIT FROM (PROVISION FOR) INCOME TAXES		$	3,700			$	(123	)

Schedule of U.S. federal statutory income tax rate and income taxes provided

Year ended July 31 (in thousands)		2020				2019
U.S. federal income tax at statutory rate		$	(3,721	)		$	(95	)
Transition tax on foreign earnings			—				92
Valuation allowance			15,470				2,008
Foreign tax rate differential			(3,702	)			(2,835	)
Nondeductible expenses			(813	)			(657	)
Other			88				1
Foreign restructuring			(3,266	)			2,271
Tax law changes			—				(896	)
State and local income tax, net of federal benefit			(356	)			(12	)
BENEFIT FROM (PROVISION FOR) INCOME TAXES		$	3,700			$	(123	)

Schedule of change in the valuation allowance

Year ended July 31 (in thousands)		Balance at beginning of year				Additions charged to costs and expenses				Deductions				Balance at end of year
2020
Reserves deducted from deferred income taxes, net:
Valuation allowance		$	74,170			$	—			$	(15,470	)		$	58,700
2019
Reserves deducted from deferred income taxes, net:
Valuation allowance		$	76,020			$	—			$	(1,850	)		$	74,170

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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