The following table reconciles the numerators and denominators used in the basic and diluted EPS calculations:


	Three months ended April 30,			Nine months ended April 30,
	2026		2025	2026		2025
Numerator:
Net (loss) income	$	(3,453,000)	33,934,000	$	(32,967,000)	(163,212,000)
Gain on extinguishment of convertible preferred stock	—		—	—		51,179,000
Dividends on convertible preferred stock, net	(10,810,000)		(48,405,000)	(21,238,000)		(80,656,000)

Net loss attributable to common stockholders	$	(14,263,000)	(14,471,000)	$	(54,205,000)	(192,689,000)

Denominator:



Denominator for basic and diluted calculation	30,034,000		29,399,000	29,823,000		29,395,000