Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (26,078) $ 20,288
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Gain on sale of discontinued operations, net of tax (82,631)
Change in fair value of convertible debentures 1,095 824
Depreciation and amortization of property, plant and equipment 1,272 2,682
Share-based compensation charges 1,696 2,268
Share-based 401(k) employer match expense 600 880
Foreign exchange loss (gain) 116 (1,674)
Provision for inventories 1,629
(Gain) loss on lease termination or impairments of other assets (606) 200
Impairment of right-of-use asset– discontinued operations 3,900
Changes in operating assets and liabilities:    
Accounts receivable 2,477 5,033
Inventories 1,090 (334)
Prepaid expenses and other assets 145 105
Accounts payable – trade (7,737) 1,159
Accrued liabilities, other current liabilities and other liabilities (4,229) 12,595
Total adjustments (181) (57,264)
Net cash used in operating activities (26,259) (36,976)
Cash flows from investing activities:    
Net proceeds from sale of discontinued operations 101,740
Capital expenditures (545) (2,760)
Net cash (used in) provided by investing activities (545) 98,980
Cash flows from financing activities:    
Cash payments for taxes related to net share settlements of equity compensation and awards (474)
Net proceeds from issuance of common stock through ATM 386
Proceeds from issuance of convertible debentures and warrants 7,000
Repayments of convertible debentures (3,609) (4,000)
Cost of issuance of convertible debentures and warrants (389)
Proceeds from borrowings under revolving credit agreement 16,846
Repayments under revolving credit agreement (16,846)
Repayments under mortgage agreement and capital leases (110) (4,136)
Proceeds from exercise of stock options 14
Net cash used in financing activities (4,193) (1,125)
Effect of exchange rate changes on cash and cash equivalents (5) (109)
(Decrease) increase in cash and cash equivalents and restricted cash (31,002) 60,770
Cash and cash equivalents and restricted cash - beginning of year 83,373 22,603
Cash and cash equivalents and restricted cash - end of year 52,371 83,373
Composition of cash and cash equivalents and restricted cash is as follows:    
Cash and cash equivalents 52,371 82,373
Restricted cash 1,000
Total cash and cash equivalents and restricted cash $ 52,371 $ 83,373