Note 5 - Leases

9 Months Ended

Apr. 30, 2026

Note 5—Leases

The Company’s leases primarily consist of operating leases for office space. These leases have remaining terms ranging from less than one year to approximately five years. Certain of these leases contain renewal options that may be exercised and/or options to terminate the lease prior to expiration. The Company has concluded that it is not reasonably certain that it would exercise any of these options.

Supplemental disclosures related to the Company’s operating leases were as follows:

	*Three Months Ended April 30,*				*Nine Months Ended April 30,*
(in thousands)	*2026*		*2025*		*2026*		*2025*
Operating lease cost	$	239	$	588	$	764	$	1,779
Short-term lease cost		638		300		1,423		806

Total lease cost	$	877	$	888	$	2,187	$	2,585

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	245	$	611	$	759	$	1,838

	*April 30, 2026*			*July 31, 2025*
Weighted-average remaining lease term - operating leases (years)		2.3			2.7
Weighted-average discount rate - operating leases		5.7	%		5.2	%

In the nine months ended April 30, 2026 and 2025, the Company obtained right-of-use assets of $0.1 million and $0.4 million, respectively, in exchange for new operating lease liabilities.

The Company’s aggregate operating lease liability was as follows:

(in thousands)	*April 30, 2026*		*July 31, 2025*
Operating lease liabilities included in "Other current liabilities"	$	757	$	842
Operating lease liabilities included in noncurrent liabilities		621		1,103
Total	$	1,378	$	1,945

Future minimum maturities of operating lease liabilities were as follows:


(in thousands)
Twelve-month period ending April 30,
2027	$	805
2028		373
2029		191
2030		111
Thereafter		-
Total lease payments		1,480
Less imputed interest		(102	)
Total operating lease liabilities	$	1,378