Note 11- Stock-based Compensation

6 Months Ended

Jan. 31, 2026

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

NOTE 11: STOCK-BASED COMPENSATION

Stock Options

A continuity schedule of our outstanding stock options for the six months ended January 31, 2026, is as follows:

	Number of Stock			Weighted Average
	Options			Exercise Price
Balance, July 31, 2025		4,594,207		$	2.71
Exercised		(1,041,720	)		2.45
Forfeited		(1,400	)		5.49
Balance, January 31, 2026		3,551,087		$	2.78

The table below sets forth the number of shares issued and cash received upon the exercise of our stock options:

	Three Months Ended January 31,				Six Months Ended January 31,
	2026		2025		2026		2025
Number of Options Exercised on a Cash Basis		162,400		2,438		351,817		48,713
Number of Options Exercised on a Non-Cash Basis		22,100		61,414		689,903		188,514
Total Number of Options Exercised		184,500		63,852		1,041,720		237,227
Number of Shares Issued on a Cash Basis		162,400		2,438		351,817		48,713
Number of Shares Issued on a Non-Cash Basis		16,068		35,627		539,956		110,389
Total Number of Shares Issued Upon Exercise of Options		178,468		38,065		891,773		159,102
Cash Received from Exercise of Stock Options	$	270	$	9	$	911	$	129
Total Intrinsic Value of Options Exercised	$	1,744	$	301	$	9,292	$	1,110

A continuity schedule of our outstanding unvested stock options as of January 31, 2026, and the changes during the period, is as follows:

	Number of Unvested Stock Options			Weighted Average Grant-Date Fair Value
Balance, July 31, 2025		359,619		$	3.80
Vested		(135,328	)		3.94
Forfeited		(200	)		3.62
Balance, January 31, 2026		224,091		$	3.72

As at January 31, 2026, the aggregate intrinsic value of all of our outstanding stock options was estimated at $51.34 million (vested: $48.80 million and unvested: $2.54 million).  As at January 31, 2026, our unrecognized compensation cost related to unvested stock options was $0.29 million ( July 31, 2025: $0.75 million), which is expected to be recognized over a weighted average period of 0.83 years.

A summary of our stock options outstanding and exercisable as of January 31, 2026, is as follows:

	Options Outstanding						Options Exercisable
					Weighted						Weighted
					Average						Average
Range of			Weighted		Remaining				Weighted		Remaining
Exercise	Outstanding at		Average		Contractual		Exercisable at		Average		Contractual
Prices	January 31, 2026		Exercise Price		Term (Years)		January 31, 2026		Exercise Price		Term (Years)
$0.91 to $0.99		882,750		0.92		4.29		882,750		0.92		4.29
$1.00 to $1.99		475,000		1.10		4.45		475,000		1.10		4.45
$2.00 to $2.99		434,649		2.28		5.41		434,649		2.28		5.41
$3.00 to $3.99		1,272,555		3.62		6.64		1,222,432		3.61		6.60
$4.00 to $4.99		14,000		4.36		8.73		6,500		4.53		8.21
$5.00 to $5.99		331,243		5.49		8.48		236,763		5.49		8.47
$6.00 to $6.99		64,558		6.51		8.33		42,316		6.56		8.29
$7.00 to $7.99		10,000		7.63		7.98		10,000		7.63		7.98
$8.00 to $8.68		66,332		8.68		9.49		16,586		8.68		9.49
		3,551,087	$	2.78		5.88		3,326,996	$	2.57		5.70

Restricted Stock Units

A summary of our outstanding and unvested restricted stock units (each, an “RSU”) as of January 31, 2026, is as follows:

	Number of RSUs			Weighted Average Grant-Date Fair Value
Balance, July 31, 2025		1,203,197		$	6.60
Granted		189,149			12.49
Forfeited		(846	)		11.98
Vested		(11,528	)		6.64
Balance, January 31, 2026		1,379,972		$	7.40

During the three and six months ended January 31, 2026, our stock-based compensation related to RSUs was $1.58 million and $2.64 million (three and six months ended January 31, 2025: $0.78 million and $1.53 million), respectively. As at January 31, 2026, our unrecognized compensation costs related to unvested RSUs totaled $6.06 million ( July 31, 2025: $6.35 million), which is expected to be recognized over a weighted average period of approximately 1.79 years.

Performance Based Restricted Stock Units

During the three and six months ended January 31, 2026, our stock-based compensation related to the amortization of performance based restricted stock units (each, a “PRSU”) totaled $0.36 million and $0.73 million (three and six months ended January 31, 2025: $0.29 million and $0.57 million), respectively. As at January 31, 2026, our unrecognized compensation costs related to unvested PRSUs totaled $2.39 million ( July 31, 2025: $3.12 million), which is expected to be recognized over a period of approximately 2.06 years.

Stock-Based Compensation

A summary of our stock-based compensation expense for the three and six months ended January 31, 2026, is as follows:

	Three Months Ended				Six Months Ended
	January 31,				January 31,
	2026		2025		2026		2025
Stock-Based Compensation for Consultants
Common stock issued to consultants	$	-	$	-	$	-	$	88
Amortization of stock option expenses		10		42		20		97
Amortization of RSU expenses		80		15		80		33
		90		57		100		218
Stock-Based Compensation for Management
Amortization of stock option expenses		118		172		291		379
Amortization of RSU and PRSU expenses		1,358		977		2,722		1,946
		1,476		1,149		3,013		2,325
Stock-Based Compensation for Employees
Amortization of stock option expenses		67		273		139		707
Amortization of RSU expenses		510		75		571		127
		577		348		710		834
	$	2,143	$	1,554	$	3,823	$	3,377