Note 13 - Variable Interest Entity

12 Months Ended

Jul. 31, 2026

Variable Interest Entity Disclosure [Text Block]

Note 13—Variable Interest Entity

The Company is the primary beneficiary of the Disbursement Payments VIE. The Company consolidates the Disbursement Payments VIE because it has the power to direct the activities of the VIE that most significantly impact its economic performance, and has the obligation to absorb losses of, and the right to receive benefits from, the Disbursement Payments VIE that could potentially be significant to it. The Company does not currently own any interest in the Disbursement Payments VIE and thus the net income of the Disbursement Payments VIE was attributed to noncontrolling interests in the accompanying statements of income.

The Disbursement Payments VIE’s net income and aggregate funding provided by the Company were as follows:

(in thousands)
Year ended July 31,	2026		2025		2024
Net income of the Disbursement Payments VIE	$	1,850	$	940	$	513
Aggregate funding provided by the Company, net	$	417	$	488	$	215

The Disbursement Payments VIE’s summarized consolidated balance sheet amounts are as follows:

(in thousands)
July 31,	*2026*		*2025*
ASSETS
Cash and cash equivalents	$	3,623	$	3,116
Restricted cash		18,102		11,000
Trade accounts receivable, net		942		244
Disbursement prefunding		4,977		1,400
Prepaid expenses		480		431
Other current assets		176		224
Other non-current assets		407		-
Property, plant, and equipment, net		517		204
Other intangibles, net		279		432
TOTAL ASSETS	$	29,503	$	17,051
LIABILITIES AND NONCONTROLLING INTERESTS
Trade accounts payable	$	371	$	27
Accrued expenses		379		159
Customer funds deposits		19,920		10,701
Other long-term liabilities		331		-
Due to the Company		1,146		729
Accumulated other comprehensive income		129		58
Noncontrolling interests		7,227		5,377
TOTAL LIABILITIES AND NONCONTROLLING INTERESTS	$	29,503	$	17,051

The Disbursement Payments VIE’s assets may only be used to settle the Disbursement Payments VIE’s obligations and may not be used for other consolidated entities. The Disbursement Payments VIE’s liabilities are non-recourse to the general credit of the Company’s other consolidated entities.