XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value Measurements
 3 Months Ended
Oct. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 8—Fair Value Measurements

 

The following table presents the balance of assets and liabilities measured at fair value on a recurring basis:

 

   Level 1 (1)   Level 2 (2)  

Level 3 (3)

  

Total

 
   (in thousands) 
October 31, 2025                
Debt securities  $15,855   $9,331   $—   $25,186 
Equity investments included in current assets   5,544    —    —    5,544 
Equity investments included in noncurrent assets   —    —    381    381 
                     
Total  $21,399   $9,331   $381   $31,111 
                     
Acquisition consideration included in:                    
Other current liabilities  $—   $—   $(343)  $(343)
Other noncurrent liabilities   —    —    (267)   (267)
                     
Total  $—   $—   $(610)  $(610)
                     
July 31, 2025                    
Debt securities  $12,926   $8,723   $—   $21,649 
Equity investments included in current assets   5,637    —    —    5,637 
Equity investments included in noncurrent assets   —    2,500    902    3,402 
                     
Total  $18,563   $11,223   $902   $30,688 
                     
Acquisition consideration included in:                    
Other current liabilities  $—   $—   $—   $— 
Other noncurrent liabilities   —    —    (610)   (610)
                     
Total  $—   $—   $(610)  $(610)

 

(1)– quoted prices in active markets for identical assets or liabilities

(2)– observable inputs other than quoted prices in active markets for identical assets and liabilities

(3)– no observable pricing inputs in the market

 

At October 31, 2025 and July 31, 2025, the Company had $3.0 million in investments in hedge funds, which were included in noncurrent “Equity investments” in the accompanying condensed consolidated balance sheets. The Company’s investments in hedge funds were accounted for using the equity method, therefore they were not measured at fair value.

 

The following table summarizes the change in the balance of the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

 

  

2025

  

2024

 
  

Three Months Ended

October 31,

 
  

2025

  

2024

 
   (in thousands) 
Balance, beginning of period  $902   $695 
Total gain (loss) included in “Other expense, net”   (521)   63 
           
Balance, end of period  $381   $758 
           
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period  $—   $— 

 

The following table summarizes the change in the balance of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

 

  

2025

  

2024

 
  

Three Months Ended

October 31,

 
  

2025

  

2024

 
   (in thousands) 
Balance, beginning of period  $610   $906 
Payments   —    — 
Total gain included in “Foreign currency translation adjustment”   —    — 
           
Balance, end of period  $610   $906 
           
Change in unrealized gains or losses for the period included in earnings for liabilities held at the end of the period  $—   $— 

 

 

Fair Value of Other Financial Instruments

 

The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange.

 

Cash and cash equivalents, restricted cash and cash equivalents, settlement assets, disbursement prefunding, other current assets, customer funds deposits, settlement liabilities, and other current liabilities. At October 31, 2025 and July 31, 2025, the carrying amount of these assets and liabilities approximated fair value because of the short period of time to maturity. The fair value estimates for cash, cash equivalents, and restricted cash and cash equivalents were classified as Level 1 and settlement assets, disbursement prefunding, other current assets, customer funds deposits, settlement liabilities, and other current liabilities were classified as Level 2 of the fair value hierarchy.

 

Other assets and other liabilities. At October 31, 2025 and July 31, 2025, the carrying amount of these assets and liabilities approximated fair value. The fair values were estimated based on the Company’s assumptions, which were classified as Level 3 of the fair value hierarchy.