Stock-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2023

Stock-Based Compensation [Abstract]

Schedule of Operations and Comprehensive (Loss) Income

In fiscal 2023 and fiscal 2022, the Company recognized stock-based compensation for its employees and non-employees as follows:

	Fiscal Year Ended
	July 31,
(in thousands)	2023		2022		% Change
Stock-based compensation expense	$	2,519	$	1,936		30.1	%

Schedule of Black-Scholes Option Pricing Model based on Weighted-Average Assumptions

The Company used the following weighted average assumptions in its BSM pricing model:

Fiscal year ended July 31,	2023			2022
Expected term		6.0 years			6.0 years
Volatility		90.0	%		92.0	%
Risk free interest rate		3.9	%		1.8	%
Dividends		—			—

Schedule of Stock Option Activity Granted

The following represents option activity for the fiscal years ended July 31, 2023 and 2022, including options granted prior to our separation from our former parent in a spin-off on June 1, 2016 and options granted under the 2016 Incentive Plan adopted on June 2, 2016:

	Stock Options					Weighted- Average		Aggregate
	Number of Options (in thousands)			Weighted- Average Exercise Price		Remaining Contractual Term (in years)		Intrinsic Value (in thousands)
Outstanding at July 31, 2021		843		$	2.72		6.76	$	10,657
Granted		60			8.80
Exercised		(5	)		1.67
Cancelled / forfeited		(41	)		11.02
Outstanding at July 31, 2022		857		$	2.76		5.88	$	763
Granted		58			2.35
Exercised		(2	)		1.19
Cancelled / forfeited		(57	)		7.83
Outstanding at July 31, 2023		856		$	1.79		4.98	$	346
Exercisable at July 31, 2023		737		$	1.72		4.40	$	330

Schedule of Weighted Average Grant Date Fair Value of Options Granted

The following table summarizes the weighted average grant date fair value of options granted, intrinsic value of options exercised and fair value of awards vested in the periods indicated:

July 31, (in thousands except per share amounts)	2023		2023
Weighted average grant date fair value of options granted	$	1.78	$	6.64
Intrinsic value of options exercised		2		29
Fair value of awards vested		215		216

Schedule of Restricted Shares Non-Vested Restricted Stock

The following represents restricted shares activity for the fiscal years ended July 31, 2023 and 2022:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested stock award as of July 31, 2021		127,300			3.27
Granted (GuruShots Retention Bonus shares)		626,242			6.39
Vested		(65,101	)		6.39
Forfeited		-			-
Non-vested stock award as of July 31, 2022		688,441		$	6.15
Granted		-			-
Vested		(236,953	)		6.04
Forfeited		(51,143	)		6.39
Non-vested stock award as of July 31, 2023		400,345		$	6.19

Schedule of Restricted Shares Non-Vested Deferred Stock Units

The following represents restricted shares activity for the fiscal years ended July 31, 2023 and 2022:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested DSU award as of July 31, 2021		37,500		$	1.54
Granted (1)		291,320			9.60
Vested		(12,500	)		1.54
Forfeited		(33,720	)		8.64
Non-vested DSU award as of July 31, 2022		282,600		$	9.00
Granted		2,000			2.21
Vested		(29,820	)		10.40
Forfeited		(16,175	)		8.32
Non-vested DSU award as of July 31, 2023		238,605		$	8.81

(1) Includes 203,924 DSUs (or 70% of total awards) of which vesting are subject to both service and market condition.