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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Operating activities    
Net income  $ 8,476 $ 12,555
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,047 4,790
Deferred income taxes 3,561 3,672
Provision for credit losses, doubtful accounts receivable, and reserve for settlement assets 759 430
Net unrealized loss from marketable securities 1,528 1,846
Stock-based compensation [1] 771 572
Other 897 756
Changes in assets and liabilities:    
Trade accounts receivable (4,572) 2,442
Settlement assets, disbursement prefunding, prepaid expenses, other current assets, and other assets 8,250 (4,380)
Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities (7,061) (6,970)
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) (2,326) 2,865
Deferred revenue (540) (394)
Net cash provided by operating activities 14,790 18,184
Investing activities    
Capital expenditures (4,322) (5,172)
Purchase of convertible preferred stock in equity method investment (672)
Purchases of debt securities and equity investments (7,750) (2,058)
Proceeds from maturities and sales of debt securities and equity investments 17,067 11,472
Net cash provided by investing activities 4,323 4,242
Financing activities    
Distributions to noncontrolling interests (55) (99)
Proceeds from other liabilities 100 300
Repayment of other liabilities (15) (1,916)
Proceeds from borrowings under revolving credit facility 30,315
Repayment of borrowings under revolving credit facility (30,315)
Proceeds from exercise of stock options 172
Repurchases of Class B common stock (2,851) (5,341)
Net cash used in financing activities (2,649) (7,056)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents (6,834) (6,157)
Net increase in cash, cash equivalents, and restricted cash and cash equivalents 9,630 9,213
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 198,823 189,562
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 208,453 198,775
Supplemental Schedule of Non-Cash Financing Activities    
Stock issued to certain executive officers for bonus payments $ 615
[1] Stock-based compensation included in selling, general and administrative expense