Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2025	Jul. 31, 2024
CURRENT ASSETS
Cash and cash equivalents	$ 52,769	$ 2,675
Available-for-sale securities		63,265
Interest receivable		515
Prepaid clinical costs	1,045
Convertible notes receivable, due from Cyclo		5,191
Other receivables	1,206
Accounts receivable, net of allowance for credit losses of $245 at July 31, 2025 and July 31, 2024	627	426
Inventory	281
Prepaid expenses and other current assets	786	430
Total current assets	56,714	72,502
Property and equipment, net	1,596	2,120
Non-current prepaid clinical costs	1,399
Convertible notes receivable classified as available-for-sale	1,858	1,146
Goodwill	19,939	3,050
Intangible assets, net	994	1,847
In-process research and development	31,575	1,575
Other assets	34	35
TOTAL ASSETS	114,109	96,832
CURRENT LIABILITIES
Accounts payable	6,893	2,556
Accrued expenses	3,304	1,798
Convertible notes payable	614	614
Other current liabilities	66	113
Installment note payable		1,700
Total current liabilities	11,600	7,514
Accrued expenses, noncurrent	3,895	2,982
Convertible notes payable, noncurrent	78	73
Other liabilities	27	5
Deferred income tax liability	138
TOTAL LIABILITIES	15,738	10,574
COMMITMENTS AND CONTINGENCIES
EQUITY
Additional paid-in capital	322,161	280,048
Accumulated deficit	(232,263)	(201,743)
Treasury stock, at cost; 101,487 Class B shares as of July 31, 2025 and July 31, 2024	(168)	(168)
Accumulated other comprehensive income related to unrealized income on available-for-sale securities	358	111
Accumulated other comprehensive income related to foreign currency translation adjustment	3,787	3,691
Total equity attributable to Rafael Holdings, Inc.	94,391	82,185
Noncontrolling interests	3,980	4,073
TOTAL EQUITY	98,371	86,258
TOTAL LIABILITIES AND EQUITY	114,109	96,832
Cyclo
CURRENT ASSETS
Investments		12,010
Hedge Funds
CURRENT ASSETS
Investments		2,547
Related Parties
CURRENT LIABILITIES
Due to related parties	723	733
Class A Common Stock
EQUITY
Common stock value	8	8
Class B Common Stock
EQUITY
Common stock value	$ 508	$ 238