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Variable Interest Entity

3 Months Ended

Oct. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entity

Note 9—Variable Interest Entity

The Company is the primary beneficiary of the Disbursement Payments VIE. The Company consolidates the Disbursement Payments VIE because it has the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses of and the right to receive benefits from the Disbursement Payments VIE that could potentially be significant to it. The Company does not currently own any interest in the Disbursement Payments VIE and thus the net income incurred by the Disbursement Payments VIE was attributed to noncontrolling interests in the accompanying condensed consolidated statements of income.

The Disbursement Payments VIE’s net income and aggregate funding provided by the Company were as follows:

Schedule of Net Income and Aggregate Funding Repaid to the Company by VIE  

		2025				2024
		Three Months Ended October 31,
		2025				2024
		(in thousands)
Net income of the VIE		$	343			$	338
Aggregate funding provided by the Company, net		$	132			$	55

The Disbursement Payments VIE’s summarized condensed consolidated balance sheet amounts are as follows:

VIE’s Summarized Consolidated Balance Sheet  

		October 31, 2025				July 31, 2025
		(in thousands)
Assets:
Cash and equivalents		$	3,515			$	3,116
Restricted cash			18,750				11,000
Trade accounts receivable, net			567				244
Disbursement prefunding			3,246				1,400
Prepaid expenses			611				431
Other current assets			197				224
Property, plant, and equipment, net			205				204
Other intangibles, net			394				432
Total assets		$	27,485			$	17,051
Liabilities and noncontrolling interests:
Trade accounts payable		$	79			$	27
Accrued expenses			419				159
Customer funds deposits			20,343				10,701
Due to the Company			861				729
Accumulated other comprehensive income			63				58
Noncontrolling interests			5,720				5,377
Total liabilities and noncontrolling interests		$	27,485			$	17,051

The Disbursement Payments VIE’s assets may only be used to settle the Disbursement Payments VIE’s obligations and may not be used for other consolidated entities. The Disbursement Payments VIE’s liabilities are non-recourse to the general credit of the Company’s other consolidated entities.

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- References

No definition available.

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- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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