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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Operating activities    
Net income $ 11,017 $ 58,018
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,333 13,381
Deferred income taxes 4,624 (13,811)
Provision for doubtful accounts receivable 1,578 1,220
Net unrealized loss (gain) from marketable securities 19,705 (508)
Stock-based compensation 1,840 1,215
Other 3,486 (4,415)
Change in assets and liabilities:    
Trade accounts receivable (8,461) 1,626
Disbursement prefunding, prepaid expenses, other current assets, and other assets (20,504) (7,961)
Trade accounts payable, accrued expenses, other current liabilities, and other liabilities (2,566) (2,154)
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) (9,843) (11,078)
Deferred revenue (948) 2,611
Net cash provided by operating activities 13,261 38,144
Investing activities    
Capital expenditures (13,794) (13,455)
Purchase of convertible preferred stock in equity method investment (1,051) (4,000)
Payments for acquisitions, net of cash acquired (7,546) (2,656)
Purchase of Rafael Holdings, Inc. Class B common stock and warrant (5,000)
Exercise of warrant to purchase shares of Rafael Holdings, Inc. Class B common stock (1,000)
Purchases of debt securities and equity investments (11,277) (39,347)
Proceeds from maturities and sales of debt securities and redemptions of equity investments 7,752 18,670
Net cash used in investing activities (25,916) (46,788)
Financing activities    
Distributions to noncontrolling interests (359) (646)
Proceeds from other liabilities 2,301
Repayment of other liabilities. (1,319) (69)
Proceeds from borrowings under revolving credit facility 2,566
Repayment of borrowings under revolving credit facility. (2,566)
Proceeds from sale of redeemable equity in subsidiary 10,000
Proceeds from exercise of stock options 137 686
Repurchases of Class B common stock (12,832) (4,192)
Net cash used in financing activities (2,072) (4,221)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents (14,093) 6,652
Net decrease in cash, cash equivalents, and restricted cash and cash equivalents (28,820) (6,213)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 226,916 201,222
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 198,096 195,009
Supplemental schedule of non-cash investing and financing activities    
Liabilities incurred for acquisitions 7,849 393
Shares of the Company’s Class B common stock issued for acquisition 1,000
Cashless exercise of stock options in exchange for shares of the Company’s Class B common stock $ 14,930