Investments in Marketable Securities

12 Months Ended

Jul. 31, 2025

Investments in Marketable Securities [Abstract]

INVESTMENTS IN MARKETABLE SECURITIES

NOTE 14 – INVESTMENTS IN MARKETABLE SECURITIES

The Company has classified its investments in corporate bonds, U.S. agency bonds, and U.S. treasury bills as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive loss in stockholders’ equity until realized. Investment transactions are recorded on their trade date. Gains and losses on marketable security transactions are reported on the specific-identification method. Interest income is accrued daily and adjusted for amortization of premiums and accretion of discounts on the corporate bonds, U.S. agency bonds, and U.S. treasury bills.

On November 19, 2024, the Company sold its investments in available-for-sale securities and cash equivalents for cash proceeds totaling $52.9 million. The sale resulted in a net loss of approximately $16 thousand, which is recognized in the consolidated financial statements during the year ended July 31, 2025. The transaction was executed to reallocate assets to better align with the Company’s strategic goals.

The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities as of July 31, 2024 are as follows:

July 31, 2024	Amortized cost		Gross unrealized gains		Gross unrealized (losses)			Fair value
	(in thousands)
Available-for-sale securities:
U.S. Treasury Bills	$	3,969	$	—	$	(2	)	$	3,967
U.S. Agency		4,079		—		(3	)		4,076
Corporate bonds		55,252		2		(32	)		55,222
Total available-for-sale securities	$	63,300	$	2	$	(37	)	$	63,265

During the year ended July 31, 2025, the Company reclassified $178 thousand of unrealized gains, related to the sale of available-for-sale securities, out of accumulated other comprehensive income and into realized gain on available-for-sale securities. During the year ended July 31, 2024, the Company reclassified approximately $1.8 million of unrealized gains, related to the sale of available-for-sale securities, out of accumulated other comprehensive loss and into realized gain on available-for-sale securities.

Marketable securities in an unrealized loss position as of July 31, 2024 were not deemed impaired at acquisition. Effective August 1, 2023, the Company evaluates subsequent unrealized losses to determine whether the decline in fair value has resulted from credit losses or other factors. No such credit losses have been identified during the year ended July 31, 2025 or 2024.