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Income Taxes (Tables) | 12 Months Ended
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Jul. 31, 2024
Income Tax Disclosure [Abstract] |
Components of Income Before Income Taxes | The components of income before income taxes are as follows: Components of Income Before Income Taxes
Year ended July 31 (in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Domestic |  | $ | 56,316 |  |  | $ | 48,036 |  |  | $ | 25,025 |
Foreign |  |  | 5,594 |  |  |  | 12,771 |  |  |  | 9,858 |
INCOME BEFORE INCOME TAXES |  | $ | 61,910 |  |  | $ | 60,807 |  |  | $ | 34,883 |
Significant Components of Deferred Income Taxes | Significant components of the Company’s deferred income tax assets consist of the following: Significant Components of Deferred Income Taxes
July 31 (in thousands) |  | 2024 |  |  | 2023 |
Deferred income tax assets: |  |  |  |  |  |  |  |
Bad debt reserve |  | $ | 1,588 |  |  | $ | 1,117 |
Accrued expenses |  |  | 2,897 |  |  |  | 4,825 |
Stock options and restricted stock |  |  | 929 |  |  |  | 361 |
Charitable contributions |  |  | 754 |  |  |  | 724 |
Depreciation |  |  | 70 |  |  |  | (585 | )
Unrealized gain |  |  | 5,405 |  |  |  | 4,407 |
Net operating loss |  |  | 36,967 |  |  |  | 23,870 |
Total deferred income tax assets |  |  | 48,610 |  |  |  | 34,719 |
Valuation allowance |  |  | (13,602 | ) |  |  | (10,618 | )
NET DEFERRED INCOME TAX ASSETS |  | $ | 35,008 |  |  | $ | 24,101 |
Schedule of (Provision for) Benefits from Income Taxes | The (provision for) benefit from income taxes consist of the following: Schedule of (Provision for) Benefits from Income Taxes
Year ended July 31 (in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (38 | ) |  | $ | (47 | ) |  | $ | (45 | )
State and local |  |  | (2,716 | ) |  |  | (1,511 | ) |  |  | (863 | )
Foreign |  |  | (724 | ) |  |  | (1,275 | ) |  |  | (729 | )
Current |  |  | (3,478 | ) |  |  | (2,833 | ) |  |  | (1,637 | )
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 9,725 |  |  |  | (14,340 | ) |  |  | (2,596 | )
State and local |  |  | (261 | ) |  |  | 16 |  |  |  | (19 | )
Foreign |  |  | 368 |  |  |  | 716 |  |  |  | (1,626 | )
Deferred |  |  | 9,832 |  |  |  | (13,608 | ) |  |  | (4,241 | )
BENEFIT FROM (PROVISION FOR) INCOME TAXES |  | $ | 6,354 |  |  | $ | (16,441 | ) |  | $ | (5,878 | )
Schedule of Differences Between Income Taxes Expected Federal Statutory Income Taxes | The differences between income taxes expected at the U.S. federal statutory income tax rate and income taxes provided are as follows: Schedule of Differences Between Income Taxes Expected Federal Statutory Income Taxes
Year ended July 31 (in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
U.S. federal income tax at statutory rate |  | $ | (13,001 | ) |  | $ | (12,770 | ) |  | $ | (7,325 | )
Valuation allowance |  |  | 2,984 |  |  |  | 970 |  |  |  | 1,147 |
Foreign tax rate differential |  |  | (1,636 | ) |  |  | (1,068 | ) |  |  | (1,059 | )
Nondeductible expenses |  |  | (1,159 | ) |  |  | (1,767 | ) |  |  | 2,044 |
Revaluation of existing foreign attributes |  |  | (2,886 | ) |  |  | — |  |  |  | — |
Prior year benefit |  |  | 23,622 |  |  |  | — |  |  |  | — |
State and local income tax, net of federal benefit |  |  | (1,855 | ) |  |  | (1,181 | ) |  |  | (686 | )
Other |  |  | 285 |  |  |  | (625 | ) |  |  | 1 |
BENEFIT FROM (PROVISION FOR) INCOME TAXES |  | $ | 6,354 |  |  | $ | (16,441 | ) |  | $ | (5,878 | )
Summary of Changes in Valuation Allowance | The change in the valuation allowance is as follows: Summary of Changes in 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 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserves deducted from deferred income taxes, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Valuation allowance |  | $ | 10,618 |  |  | $ | 2,984 |  |  | $ | — |  |  | $ | 13,602 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserves deducted from deferred income taxes, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Valuation allowance |  | $ | 11,588 |  |  | $ | 2,537 |  |  | $ | (3,507 | ) |  | $ | 10,618 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserves deducted from deferred income taxes, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Valuation allowance |  | $ | 11,540 |  |  | $ | 48 |  |  | $ | — |  |  | $ | 11,588 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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