v3.26.1
Note 7 - Debt Securities
 9 Months Ended
Apr. 30, 2026
Notes to Financial Statements  
Investment in Debt and Equity Securities and Other Trading Assets [Text Block]

Note  7—Debt Securities

 

The following is a summary of available-for-sale debt securities:

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

April 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

15,799

 

 

$

-

 

 

$

(15

)

 

$

15,784

 

Government sponsored enterprise notes

 

 

8,000

 

 

 

-

 

 

 

(10

)

 

 

7,990

 

Corporate bonds

 

 

2,917

 

 

 

3

 

 

 

(137

)

 

 

2,783

 

Total

 

$

26,716

 

 

$

3

 

 

$

(162

)

 

$

26,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

12,953

 

 

$

-

 

 

$

(27

)

 

$

12,926

 

Government sponsored enterprise notes

 

 

5,554

 

 

 

-

 

 

 

(4

)

 

 

5,550

 

Corporate bonds

 

 

3,367

 

 

 

2

 

 

 

(196

)

 

 

3,173

 

Total

 

$

21,874

 

 

$

2

 

 

$

(227

)

 

$

21,649

 

 

The gross unrealized losses in the table above are recorded in “Accumulated other comprehensive loss” in the condensed consolidated balance sheets. As of  April 30, 2026, the Company determined that the unrealized losses were due to changes in interest rates or market liquidity and were not due to credit losses. In addition, as of  April 30, 2026 and  July 31, 2025, the Company did not intend to sell any of the securities with unrealized losses, and it is not more likely than not that the Company will be required to sell any of these securities before recovery of the unrealized losses, which may be at maturity.

 

Proceeds from maturities and sales of debt securities and redemptions of equity investments were $34.6 million and $35.0 million in the nine months ended April 30, 2026 and 2025, respectively. Realized gains or realized losses from sales of debt securities were not material in the nine months ended April 30, 2026 and 2025.

 

The contractual maturities of the Company’s available-for-sale debt securities at  April 30, 2026 were as follows:

 

(in thousands)

 

Fair Value

 

Within one year

 

$

24,512

 

After one year to five years

 

 

1,796

 

After five years to ten years

 

 

239

 

After ten years

 

 

10

 

Total

 

$

26,557

 

 

The following table includes the fair value of the Company’s available-for-sale debt securities that were in an unrealized loss position:

 

(in thousands)

 

Unrealized Losses

 

 

Fair Value

 

April 30, 2026

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

(15

)

 

$

15,784

 

Government sponsored enterprise notes

 

 

(10

)

 

 

7,990

 

Corporate bonds

 

 

(137

)

 

 

2,783

 

Total

 

$

(162

)

 

$

26,557

 

 

 

 

 

 

 

 

 

 

July 31, 2025

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

(27

)

 

$

12,926

 

Government sponsored enterprise notes

 

 

(4

)

 

 

5,550

 

Corporate bonds

 

 

(196

)

 

 

2,976

 

Total

 

$

(227

)

 

$

21,452

 

 

The following available-for-sale debt securities included in the table above were in a continuous unrealized loss position for 12 months or longer:

 

(in thousands)

​

Unrealized Losses

​

​

Fair Value

​

April 30, 2026

​

​

​

​

​

​

​

​

U.S. Treasury bills and notes

​

$

(9

)

​

$

337

​

Corporate bonds

​

​

(136

)

​

​

2,462

​

Total

​

$

(145

)

​

$

2,799

​

​

​

​

​

​

​

​

​

​

July 31, 2025

​

​

​

​

​

​

​

​

U.S. Treasury bills and notes

​

$

(19

)

​

$

329

​

Corporate bonds

​

​

(195

)

​

​

2,967

​

Total

​

$

(214

)

​

$

3,296

​