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Leases

3 Months Ended

Oct. 31, 2024

Leases

Leases

Note 4—Leases

The Company’s leases primarily consist of operating leases for office space. These leases have remaining terms from less than one year to approximately five years. Certain of these leases contain renewal options that may be exercised and/or options to terminate the lease. The Company has concluded that it is not reasonably certain that it would exercise any of these options.

Supplemental disclosures related to the Company’s operating leases were as follows:

Schedule of Supplemental Disclosures Related to the Company’s Operating Leases 

		2024				2023
		Three Months Ended October 31,
		2024				2023
		(in thousands)
Operating lease cost		$	601			$	758
Short-term lease cost			258				326
Total lease cost		$	859			$	1,084
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	614			$	791
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases		$	614			$	791

Schedule of Supplemental Disclosure Related Weighted Average Operating Leases 

		October 31, 2024				July 31, 2024
Weighted-average remaining lease term-operating leases			2.5 years				2.6 years
Weighted-average discount rate-operating leases			5.7	%			5.6	%

In the three months ended October 31, 2024 and 2023, the Company obtained right-of-use assets of $0.4 million and $0.1 million, respectively, in exchange for new operating lease liabilities.

The Company’s aggregate operating lease liability was as follows:

Schedule of Aggregate Operating Lease Liability 

		October 31, 2024				July 31, 2024
		(in thousands)
Operating lease liabilities included in “Other current liabilities”		$	1,640			$	1,866
Operating lease liabilities included in noncurrent liabilities			1,566				1,533
Total		$	3,206			$	3,399

Future minimum maturities of operating lease liabilities were as follows:

Schedule of Future Minimum Maturities of Operating Lease Liabilities 

(in thousands)
Twelve-month period ending October 31:
2025		$	1,768
2026			801
2027			500
2028			198
2029			186
Thereafter			15
Total lease payments			3,468
Less imputed interest			(262	)
Total operating lease liabilities		$	3,206

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- References

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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