XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Operating activities    
Net income $ 27,864 $ 5,911
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,801 8,825
Deferred income taxes 7,788 1,683
Provision for doubtful accounts receivable 915 1,289
Net unrealized loss from marketable securities 2,349 16,242
Stock-based compensation 1,858 595
Other 1,359 2,850
Change in assets and liabilities:    
Trade accounts receivable 16,298 (8,045)
Disbursement prefunding, prepaid expenses, other current assets, and other assets (11,492) (8,551)
Trade accounts payable, accrued expenses, other current liabilities, and other liabilities (19,344) (6,313)
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) 15 (1,862)
Deferred revenue (1,795) (960)
Net cash provided by operating activities 35,616 11,664
Investing activities    
Capital expenditures (10,578) (8,991)
Purchase of convertible preferred stock in equity method investment (1,051)
Payments for acquisitions, net of cash acquired (100)
Purchases of debt securities and equity investments (28,129) (10,825)
Proceeds from maturities and sales of debt securities and redemptions of equity investments 27,531 6,068
Net cash used in investing activities (11,176) (14,899)
Financing activities    
Distributions to noncontrolling interests (187) (198)
Proceeds from other liabilities 300 2,301
Repayment of other liabilities. (2,014) (1,291)
Proceeds from borrowings under revolving credit facility 2,383 2,488
Repayment of borrowings under revolving credit facility. (2,383) (2,488)
Proceeds from sale of redeemable equity in subsidiary 10,000
Proceeds from exercise of stock options 172
Repurchases of Class B common stock (5,341) (8,974)
Net cash (used in) provided by financing activities (7,070) 1,838
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents 746 (4,967)
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents 18,116 (6,364)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 189,562 226,916
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 207,678 220,552
Supplemental schedule of non-cash financing activities    
Stock issued to certain executive officers for bonus payments $ 615