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Other Operating Expense, Net

9 Months Ended

Apr. 30, 2025

Other Income and Expenses [Abstract]

Note 10—Other Operating Expense, Net

The following table summarizes the other operating (expense) gain, net by business segment:

	2025			2024			2025			2024
	Three Months Ended April 30,						Nine Months Ended April 30,
	2025			2024			2025			2024
	(in thousands)
Corporate—Straight Path Communications Inc. class action legal fees	$	—		$	(3,157	)	$	(7	)	$	(5,921	)
Corporate—Straight Path Communications Inc. class action insurance claims		—			—			—			2,869
Corporate—other		—			—			—			12
Fintech—write-off of intangible asset		—			(74	)		—			(74	)
net2phone—write-off of equipment		(212	)		—			(400	)		—
net2phone—write-off of contingent consideration liability		—			—			—			73
Traditional Communications—other		37			—			4			—

Total other operating expense, net	$	(175	)	$	(3,231	)	$	(403	)	$	(3,041	)

Straight Path Communications Inc. Class Action

As discussed in Note 16, the Company (as well as other defendants) was named in a class action on behalf of the stockholders of the Company’s former subsidiary, Straight Path Communications Inc. (“Straight Path”). The Company incurred legal fees and recorded offsetting gains from insurance claims related to this action. In fiscal 2024, the Company received the final payment from its insurance policy for these claims. On October 3, 2023, the Court of Chancery of the State of Delaware dismissed all claims against the Company, and found that, contrary to the plaintiffs’ allegations, the class suffered no damages. On January 14, 2025, the plaintiff filed a notice of appeal of the Final Order and Judgment to the Supreme Court of the State of Delaware to appeal the Final Order and Judgment. On April 22, 2025, the Company filed its answering brief to the appeal. The Supreme Court of the State of Delaware has scheduled oral argument for July 2025.

Write-off of Contingent Consideration Liability

In the nine months ended April 30, 2024, the Company recognized a gain on the write-off of a contingent consideration payment obligation in its net2phone segment.