INVESTMENTS (Tables)

3 Months Ended

Oct. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment

The following table summarizes the Company's investments as of October 31, 2024 and July 31, 2024.

	October 31, 2024		July 31, 2024
	(In thousands)
Convertible loan note investment(a)	$	—	$	—
Investments in equity securities(b)	48,693		41,376
Total	$	48,693	$	41,376

(a)    The balance consists of the Company's investment in a convertible loan note, which matures on March 31, 2025. The Company paid 1.0 million GBP (approximately $1.2 million) to subscribe for an amount of £1.0 million (the "loan principal") of 11.0% 2025 unsecured convertible loan notes issued by the investee (the "CLN Instrument Agreement"). Contemporaneous with the execution of the CLN Instrument Agreement, the Company executed the Equity Warrant Instrument Agreement (“Warrant Agreement”), which provides the Company with the option to convert the outstanding balance into equity shares of the investee at any time before repayment of the outstanding loan principal balance. The Company elected the fair value option to account for this investment. In April 2024, the Company became aware that the investee had halted its operations while it undergoes a restructuring process. As a result, the Company determined that the fair value of the investment was zero. The Company recorded a loss of $1.2 million to Other (losses) gains, net on the condensed consolidated statements of operations during the third quarter of fiscal year 2024, which was the fair value of the investment as of January 31, 2024. As of October 31, 2024, there was no new information available that would indicate that the fair value of the convertible loan note investment had changed.

(b)    The balance consists of multiple common stock investments in public companies which are measured at fair value.

Schedule of Unrealized Gain (Loss) on Investments

The amounts of net unrealized losses for the three months ended October 31, 2024 and 2023 that relate to equity securities still held as of October 31, 2024 and 2023, respectively, are as follows:

	Three months ended October 31,
	2024		2023
	(In thousands)
Unrealized losses recognized during the period on equity securities still held at the end of the period	$	(5,480)	$	(447)