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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2021
OPERATING ACTIVITIES      
Net income $ 44,366 $ 29,005 $ 96,891
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 20,136 18,115 17,764
Deferred income taxes 12,601 4,801 (32,793)
Provision for doubtful accounts receivable and reserve for settlement assets 2,198 2,330 1,782
Net unrealized loss (gain) from marketable securities 3,368 18,960 (3,262)
Stock-based compensation [1] 4,518 1,930 1,490
Other 3,175 3,379 (4,096)
Changes in assets and liabilities:      
Trade accounts receivable 4,726 (8,279) 977
Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets (17,503) (21,046) (6,952)
Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities (17,216) (1,110) (264)
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) (4,200) (15,966) (6,906)
Deferred revenue (2,029) (2,712) 1,989
Net cash provided by operating activities 54,140 29,407 66,620
INVESTING ACTIVITIES      
Capital expenditures (21,958) (21,879) (16,765)
Payments for acquisitions, net of cash acquired (7,552) (3,673)
Cash acquired from acquisition of interest in variable interest entity 3,336
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)
Purchase of convertible preferred stock in equity method investment (840) (1,051) (4,000)
Purchases of debt securities and equity investments (59,872) (24,454) (43,187)
Proceeds from maturities and sales of debt securities and redemption of equity investments 49,211 21,157 26,230
Net cash used in investing activities (33,459) (33,779) (44,059)
FINANCING ACTIVITIES      
Distributions to noncontrolling interests (348) (514) (848)
Payment for acquisition of warrant in variable interest entity (791)
Proceeds from other liabilities 300 2,301 729
Repayment of other liabilities (2,037) (1,319) (108)
Proceeds from sale of redeemable equity in subsidiary 10,000
Proceeds from borrowings under revolving credit facility 27,383 2,566
Repayments of borrowings under revolving credit facility (27,383) (2,566)
Proceeds from exercise of stock options 172 137 687
Repurchases of Class B common stock (13,896) (26,222) (4,192)
Net cash used in financing activities (15,809) (15,617) (4,523)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents 4,389 (17,365) 7,656
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents 9,261 (37,354) 25,694
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of year 189,562 226,916 201,222
Cash, cash equivalents, and restricted cash and cash equivalents at end of year 198,823 189,562 226,916
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash payments made for interest 536 461 486
Cash payments made for income taxes 777 109 193
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Conversion of equity method investment’s secured promissory notes into convertible preferred stock 4,038
Stock issued to certain executive officers for bonus payments 615
Liabilities incurred for acquisitions 7,849 628
Shares of the Company’s Class B common stock issued for acquisition 100 1,000
Cashless exercise of stock options in exchange for shares of the Company’s Class B common stock 14,930
Stock issued for matching contributions to the 401(k) Plan $ 1,042
[1] Stock-based compensation included in selling, general and administrative expenses