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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Cash flows from operating activities:    
Net (loss) income $ (3,551) $ 4,792
Adjustments to reconcile net (loss) income to cash flows from operating activities:    
Depreciation 5,780 5,589
Amortization of intangible assets 6,535 7,277
Amortization of deferred financing costs 148 68
Accretion of debt discount 292 409
Share-based compensation 188 176
Other losses (gains), net 3,622 (558)
Changes in operating assets and liabilities:    
Accounts receivable, net 12,839 (1,564)
Inventories, net 514 (2,165)
Prepaid expenses and other current assets (4,473) (3,342)
Accounts payable and accrued expenses 6,416 4,625
Refundable and accrued income taxes, net 503 639
Other assets and liabilities (3,086) 6,464
Net cash provided by operating activities 25,727 22,410
Cash flows from investing activities:    
Additions of property and equipment (1,059) (4,072)
Net cash used in investing activities (1,059) (4,072)
Cash flows from financing activities:    
Payments towards revolving lines of credit, net 0 (4,000)
Payment of long-term debt (1,500) (1,500)
Payment of preferred dividends (537) (536)
Repayments on capital lease obligations (17) (33)
Proceeds from issuance of common stock 3 6
Net cash used in financing activities (2,051) (6,063)
Net effect of exchange rate changes on cash, cash equivalents and restricted cash (269) 41
Net increase in cash, cash equivalents and restricted cash 22,348 12,316
Cash, cash equivalents and restricted cash, beginning of period 94,642 46,064
Cash, cash equivalents and restricted cash, end of period 116,990 58,380
Cash and cash equivalents, end of period 104,522 41,214
Funds held for clients, end of period $ 12,468 $ 17,166