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Equity Investments (Tables)
3 Months Ended
Oct. 31, 2025
Cash and Cash Equivalents [Abstract]  
Schedule of Equity Investments

Equity investments consist of the following:

 

  

October 31, 2025

  

July 31, 2025

 
   (in thousands) 
Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2025 and July 31, 2025  $107   $170 
Rafael Holdings, Inc. Class B common stock, 446,932 shares at October 31, 2025 and July 31, 2025   608    755 
Other marketable equity securities   134    146 
Fixed income mutual funds   4,695    4,566 
           
Current equity investments  $5,544   $5,637 
           
Visa Inc. Series C Convertible Participating Preferred Stock (“Visa Series C Preferred”)  $381   $902 
Convertible preferred stock—equity method investment        
Hedge funds   3,044    3,031 
Other   1,225    2,725 
           
Noncurrent equity investments  $4,650   $6,658 
Schedule of Carrying Value of Equity Investments

The changes in the carrying value of the Company’s equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows:

 

   2025   2024 
  

Three Months Ended

October 31,

 
   2025   2024 
   (in thousands) 
 Balance, beginning of period  $1,171   $964 
Adjustment for observable transactions involving a similar investment from the same issuer   (521)   63 
           
Balance, end of the period  $650   $1,027 
Schedule of Unrealized Gains (losses) Gains for All Equity Investments

Unrealized gains (losses) for all equity investments measured at fair value included the following:

 

   2025   2024 
  

Three Months Ended

October 31,

 
   2025   2024 
   (in thousands) 
Net (losses) gains recognized during the period on equity investments  $(269)  $378 
Plus: net loss recognized during the period on equity investment sold during the period   

    2 
           
Unrealized (losses) gains recognized during the period on equity investments still held at the reporting date  $(269)  $380 

 

 

The unrealized gains and losses for all equity investments measured at fair value in the table above included the following:

 

   2025   2024 
  

Three Months Ended

October 31,

 
   2025   2024 
   (in thousands) 
Unrealized (losses) gains recognized during the period on equity investments:          
           
Rafael Class B common stock  $(147)  $100 
           
Zedge Class B common stock  $(63)  $(23)
Summary of Changes in Equity Method Investments

The following table summarizes the change in the balance of the Company’s equity method investment:

   2025   2024 
   Three Months Ended October 31, 
   2025   2024 
    (in thousands) 
Balance, beginning of period  $(397)  $1,338 
Purchase of convertible preferred stock       673 
Equity in the net loss of investee   (64)   (438)
Amortization of equity method basis difference   (343)   (342)
           
Balance, end of period  $(804)  $1,231