DEBT (Tables)

3 Months Ended

Oct. 31, 2019

Debt Disclosure [Abstract]

Summary of Interest Expense

During the three months ended October 31, 2019, the Company recognized interest expense associated with the SPHG Note of $0.7 million, which includes amortization of debt accretion.

	Three Months Ended October 31, 2019
	(In thousands)
Interest expense related to contractual interest coupon	$	280
Interest expense related to accretion of the discount	409
	$	689

Schedule of Debt

As of October 31, 2019 and July 31, 2019, the net carrying value of the SPHG Note was $7.9 million and $7.4 million, respectively.

	October 31, 2019			July 31, 2019
	(In thousands)
Carrying amount of equity component	$	8,200		$	8,200
Principal amount of note	$	14,940		$	14,940
Unamortized debt discount	(7,088		)	(7,508		)
Net carrying amount	$	7,852		$	7,432

As of October 31, 2019 and July 31, 2019, the current and long-term net carrying value of the Term Loan was $372.8 million and $374.2 million, respectively.

	October 31, 2019			July 31, 2019
	(In thousands)
Principal amount outstanding on the Term Loan	$	373,625		$	375,125
Unamortized debt issuance costs	(821		)	(888		)
Net carrying value of the Term Loan	$	372,804		$	374,237