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Leases

9 Months Ended

Apr. 30, 2025

Leases

Leases

Note 4—Leases

The Company’s leases primarily consist of operating leases for office space. These leases have remaining terms of 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

		2025				2024				2025				2024
		Three Months Ended April 30,								Nine Months Ended April 30,
		2025				2024				2025				2024
		(in thousands)
Operating lease cost		$	588			$	746			$	1,779			$	2,238
Short-term lease cost			300				311				806				770
Total lease cost		$	888			$	1,057			$	2,585			$	3,008
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	611			$	738			$	1,838			$	2,253
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases		$	611			$	738			$	1,838			$	2,253

Schedule of Supplemental Disclosure Related Weighted Average Operating Leases

		April 30, 2025				July 31, 2024
Weighted-average remaining lease term-operating leases			2.8 years				2.6 years
Weighted-average discount rate-operating leases			5.6	%			5.6	%

In the nine months ended April 30, 2025 and 2024, the Company obtained right-of-use assets of $0.4 million and $0.9 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

		April 30, 2025				July 31, 2024
		(in thousands)
Operating lease liabilities included in “Other current liabilities”		$	875			$	1,866
Operating lease liabilities included in noncurrent liabilities			1,213				1,533
Total		$	2,088			$	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 April 30:
2026		$	966
2027			679
2028			327
2029			192
2030			112
Thereafter			—
Total lease payments			2,276
Less imputed interest			(188	)
Total operating lease liabilities		$	2,088

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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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