0001628280-23-021865 | 10-Q | XBRL Viewer

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BASIS OF PRESENTATION (Details) - USD ($)	9 Months Ended
BASIS OF PRESENTATION (Details) - USD ($)	Apr. 30, 2023	Apr. 30, 2022	May 01, 2023	Jul. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Preferred stock, shares issued (in shares)	0			0
Common stock, par value (in usd per share)	$ 0.01			$ 0.01
Bad debt expense (recovery)	$ (1,136,000)	$ 3,000
Subsequent Event
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock, par value (in usd per share)			$ 0.01
Steel Partners Group \| Subsequent Event \| Steel Connect, Inc. \| SPHG Holdings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity method investment, ownership percentage			85.00%
Steel Partners \| Subsequent Event \| Steel Connect, Inc. \| SPHG Holdings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity method investment, ownership percentage			50.00%
Series E Preferred Stock \| Subsequent Event
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Preferred stock, convertible, shares issuable (in shares)			184,900,000
Exchange Transaction Agreement \| Steel Partners Group \| Series E Preferred Stock \| Subsequent Event
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Preferred stock, shares issued (in shares)			3,500,000

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	Apr. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of a normal recurring nature) considered necessary for fair presentation have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes for the year ended July 31, 2022 (Fiscal Year 2022), which are contained in the Company's Form 10-K for the Fiscal Year 2022. The results for the nine months ended April 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year. The year-end condensed consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP.
Consolidation	All significant intercompany transactions and balances have been eliminated in consolidation.
Accounting Standards Issued and Not Yet Implemented	Accounting Standards Issued and Not Yet Implemented In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Loses on Financial Instruments, an ASU that requires measurement and recognition of expected credit losses for financial instruments, including trade receivables, based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The ASU will be effective for the Company beginning in the first quarter of the fiscal year ending July 31, 2024 on a modified retrospective basis, which requires a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Early adoption is permitted. The Company is evaluating the potential impact of this guidance, but does not expect the new standard to have a material impact on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40). The amendment in this update simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. This update also amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions and requires the application of the if-converted method for calculating diluted earnings per share. The update also requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity's financial statements and information about events, conditions and circumstances that can affect the assessment of the amount or timing of an entity's future cash flows related to those instruments. The guidance is effective for interim and annual periods beginning in our fiscal year ending July 31, 2025, with early adoption permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. The ASU requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This guidance is effective for all entities for annual periods beginning after December 15, 2021 and early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. Other new pronouncements issued but not effective until after April 30, 2023 are not expected to have a material impact on our financial condition, results of operations or liquidity
Fair Value of Financial Instruments	ASC 820, Fair Value Measurement, provides that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. ASC 820 requires the Company to use valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows: Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants would price the assets or liabilities The carrying value of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, current liabilities and the revolving line of credit under the Umpqua Revolver approximate fair value because of the short maturity of these instruments. We believe that the carrying value of our long-term debt approximates fair value because the stated interest rates of this debt is consistent with current market rates. The carrying value of capital lease obligations approximates fair value, as estimated by using discounted future cash flows based on the Company's current incremental borrowing rates for similar types of borrowing arrangements.

DEBT

9 Months Ended

Apr. 30, 2023

Debt Disclosure [Abstract]

DEBT

The components of debt and a reconciliation to the carrying amount of long-term debt is presented in the table below:


	April 30, 2023		July 31, 2022
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	13,940	$	14,940
Credit Facilities
Umpqua Revolver	—		—
Less: unamortized discounts and issuance costs(a)	(2,397)		(3,972)
Total debt, net	$	11,543	$	10,968

(a)Amounts include deferred debt issuance costs related to credit facilities of $43 thousand and $79 thousand as of April 30, 2023 and July 31, 2022, respectively, which are presented in Prepaid expenses and other current assets and Other assets.

7.50% Convertible Senior Note

On February 28, 2019, the Company entered into a 7.50% Convertible Senior Note Due 2024 Purchase Agreement (the "SPHG Note Purchase Agreement") with SPH Group Holdings LLC ("SPHG Holdings"), whereby SPHG Holdings agreed to loan the Company $14.9 million in exchange for a 7.50% Convertible Senior Note due 2024 (the "SPHG Note").

On March 9, 2023 (the "Amendment Date"), the Company and SPHG Holdings entered into an amendment to the SPHG Note (the “SPHG Note Amendment”). Pursuant to the SPHG Note Amendment, the maturity date of the SPHG Note was extended six months from March 1, 2024 to September 1, 2024. In addition, the Company repaid $1.0 million in principal amount of the SPHG Note on the Amendment Date, and will be required to repay an additional $1.0 million principal amount of the note on the three month anniversary of the SPHG Note Amendment, which occurred on June 9, 2023. In connection with the SPHG Note Amendment, the Company paid SPHG Holdings a cash amendment fee of $0.1 million, and derecognized $0.2 million of the debt discount in proportion to the reduction of the principal balance during the current period. No other changes were made to the terms of the SPHG Note besides the items discussed.

SPHG Holdings has the right, at its option, prior to the close of business on the business day immediately preceding September 1, 2024, the maturity date of the SPHG Note, to convert the SPHG Note or a portion thereof that is $1,000 or an integral multiple thereof, into shares of common stock (if the Company has not received a required stockholder approval) or cash, shares of common stock or a combination of cash and shares of common stock, as applicable (if the Company has received a required stockholder approval), at an initial conversion rate of 421.2655 shares of common stock, which is equivalent to an initial conversion price of approximately $2.37 per share (subject to adjustment as provided in the SPHG Note) per $1,000 principal amount of the SPHG Note, subject to, and in accordance with, the settlement provisions of the SPHG Note. As of April 30, 2023, the if-converted value of the SPHG Note did not exceed the principal value of the SPHG Note. As of April 30, 2023, the remaining period over which the unamortized discount will be amortized is 16 months. As of April 30, 2023 and July 31, 2022, the net carrying value of the SPHG Note was $11.6 million and $11.0 million, respectively. The effective interest rate on the SPHG Note, including accretion of the discount, prior to the SPHG Note Amendment was 27.8%, and the effective interest rate on the SPHG Note subsequent to the SPHG Note Amendment is 23.0%.

The following tables reflect the components of the SPHG Note:


	April 30, 2023		July 31, 2022
	(In thousands)
Carrying amount of equity component	$	8,171	$	8,200

Principal amount of note	$	13,940	$	14,940
Unamortized debt discount	(2,354)		(3,893)
Net carrying amount	$	11,586	$	11,047


	Three months ended April 30,				Nine months ended April 30,
	2023		2022		2023		2022
	(In thousands)
Interest expense related to contractual interest coupon	$	271	$	277	$	844	$	849
Interest expense related to accretion of the discount	632		429		1,688		1,229
Interest expense related to revolving credit facilities (see below)	11		131		36		200
Other	—		11		20		81
Total interest expense	$	914	$	848	$	2,588	$	2,359

Umpqua Revolver

On March 16, 2022, ModusLink, as borrower, entered into a new credit agreement with Umpqua Bank as lender and as agent. The Umpqua Revolver provides for a maximum credit commitment of $12.5 million and a sublimit of $5.0 million for letters of credit and expires on March 31, 2025. Concurrent with signing the Umpqua Revolver ModusLink submitted a notice of termination to MidCap Financial Trust for its $12.5 million revolving credit facility (the “MidCap Credit Facility”), which was set to expire on December 31, 2022. There was no balance outstanding on the Midcap Credit Facility at the time of its termination.

On March 13, 2023, ModusLink and Umpqua Bank entered into an amendment to the Umpqua Revolver (the "Umpqua Revolver Amendment") to extend the expiration date of the facility from March 16, 2024 to March 31, 2025. There were no fees associated with the extension.

As of April 30, 2023, ModusLink was in compliance with the Umpqua Revolver's covenants, and believes it will remain in compliance with the Umpqua Revolver’s covenants for the next twelve months. As of April 30, 2023, ModusLink had available borrowing capacity of $11.9 million and there was $0.6 million available for letters of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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+ Details

LEASES

9 Months Ended

Apr. 30, 2023

Leases [Abstract]

LEASES

The table below presents the components of the Company's net lease expense:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Operating lease cost	$	2,636	$	2,596	$	7,538	$	7,569
Short-term lease expense	394		482		1,269		1,221
Variable lease cost	—		4		7		20

Interest on finance lease liabilities	—		1		—		2
Sublease income	(222)		(270)		(786)		(483)
	$	2,808	$	2,813	$	8,028	$	8,329

Supplemental Cash Flow Information

Supplemental cash flow information related to the Company's leases was as follows:


	Nine Months Ended April 30,
	2023		2022
	(In thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	7,224	$	7,450
Operating cash flows from finance leases	$	—	$	2
Financing cash flows from finance leases	$	38	$	54

LEASES

The table below presents the components of the Company's net lease expense:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Operating lease cost	$	2,636	$	2,596	$	7,538	$	7,569
Short-term lease expense	394		482		1,269		1,221
Variable lease cost	—		4		7		20

Interest on finance lease liabilities	—		1		—		2
Sublease income	(222)		(270)		(786)		(483)
	$	2,808	$	2,813	$	8,028	$	8,329

Supplemental Cash Flow Information

Supplemental cash flow information related to the Company's leases was as follows:


	Nine Months Ended April 30,
	2023		2022
	(In thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	7,224	$	7,450
Operating cash flows from finance leases	$	—	$	2
Financing cash flows from finance leases	$	38	$	54

NATURE OF OPERATIONS - Nature of Operations (Details) - USD ($) $ in Millions	May 01, 2023	Apr. 30, 2023	Jul. 31, 2022	Mar. 16, 2022
Nature Of Operations [Line Items]
Preferred stock, shares issued (in shares)		0	0
Cash and cash equivalents		$ 62.7	$ 53.1
Excess working capital		34.5
Steel Partners Group \| Subsequent Event \| Exchange Transaction Agreement
Nature Of Operations [Line Items]
Increase in operating capital	$ 203.0
Steel Partners Group \| Series E Preferred Stock \| Subsequent Event \| Exchange Transaction Agreement
Nature Of Operations [Line Items]
Preferred stock, shares issued (in shares)	3,500,000
Umpqua Revolver
Nature Of Operations [Line Items]
Line of credit facility, maximum credit commitment		12.5		$ 12.5
Line of credit facility, sublimit borrowing capacity		$ 5.0		$ 5.0

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 2,636	$ 2,596	$ 7,538	$ 7,569
Short-term lease expense	394	482	1,269	1,221
Variable lease cost	0	4	7	20
Interest on finance lease liabilities	0	1	0	2
Sublease income	(222)	(270)	(786)	(483)
Total lease cost	$ 2,808	$ 2,813	$ 8,028	$ 8,329

INVENTORIES, NET (Tables)

9 Months Ended

Apr. 30, 2023

Inventory Disclosure [Abstract]

Schedule of inventories, net

The table below presents the components of Inventories, net:


	April 30, 2023		July 31, 2022
	(In thousands)
Raw materials	$	5,990	$	7,330
Work-in-process	143		124
Finished goods	786		697
	$	6,919	$	8,151

SUBSEQUENT EVENTS (Details)	Jun. 07, 2023 shares	May 01, 2023 director $ / shares shares	Apr. 30, 2023 $ / shares shares	Jul. 31, 2022 $ / shares shares
Subsequent Event [Line Items]
Common stock, par value (in usd per share) \| $ / shares			$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)			0	0
Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (in usd per share) \| $ / shares		$ 0.01
Subsequent Event \| Common Stock
Subsequent Event [Line Items]
Stockholders' equity note, reverse stock split, conversion ratio	0.0029
Stockholders' equity note, forward stock split, conversion ratio	375
Stockholders' equity note, stock split, stock own (in shares)	3,500
Series E Preferred Stock \| Subsequent Event
Subsequent Event [Line Items]
Preferred stock, convertible, shares issuable (in shares)		184,900,000
Exchange Transaction Agreement \| Steel Partners \| Aerojet Share \| Subsequent Event \| Exchanging Parties
Subsequent Event [Line Items]
Common stock, shares exchanged (in shares)		3,600,000
Common stock, par value (in usd per share) \| $ / shares		$ 0.10
Exchange Transaction Agreement \| Steel Partners \| Series E Preferred Stock \| Subsequent Event
Subsequent Event [Line Items]
Preferred stock, shares issued (in shares)		3,500,000
Preferred stock, liquidation preference per share (in usd per shares) \| $ / shares		$ 58.1087
Stockholders' Agreement \| Subsequent Event
Subsequent Event [Line Items]
Board of directors, number of directors \| director		7
Litigation settlement, proceeds required to be distributed to stockholders, percentage		70.00%
Ownership percentage, prior approval of equity securities, threshold percentage		100.00%
Stockholders' Agreement \| Subsequent Event \| SP Group \| Steel Connect, Inc. \| Steel Connect, Inc.
Subsequent Event [Line Items]
Ownership percentage, prior approval required for transfer of equity interests, threshold percentage		80.00%

DISCONTINUED OPERATIONS - Schedule of Disposal Groups, Including Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	$ 0	$ 39,895	$ 0	$ (108)
Discontinued Operations, Disposed of by Sale \| IWCO Direct Holdings, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue		18,167		165,542
Cost of revenue		17,894		156,697
Gross profit		273		8,845
Selling, general and administrative		4,517		30,744
Amortization of intangible assets		1,218		9,303
Total operating expenses		5,735		40,047
Operating loss		(5,462)		(31,202)
Gain upon deconsolidation of IWCO Direct		38,043		38,043
Interest expense		(1,848)		(16,111)
Total other income, net		36,195		21,932
Income (loss) from discontinued operations before income taxes		30,733		(9,270)
Income tax benefit		(9,162)		(9,162)
Net income (loss) from discontinued operations		$ 39,895		$ (108)

SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
SEGMENT INFORMATION - Additional Information (Details)	Apr. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	1

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Other Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Payables and Accruals [Abstract]
Accrued pricing liabilities	$ 9,435	$ 9,435
Deferred revenue - current	2,949	2,705
Other	1,376	1,342
Total other current liabilities	$ 13,760	$ 13,482

REVENUE RECOGNITION - Disaggregated Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Disaggregation of Revenue [Line Items]
Net revenue	$ 46,142	$ 51,548	$ 148,283	$ 150,223
Supply chain management services
Disaggregation of Revenue [Line Items]
Net revenue	45,826	51,123	147,185	148,783
Other
Disaggregation of Revenue [Line Items]
Net revenue	316	425	1,098	1,440
Services transferred over time \| Transferred over time
Disaggregation of Revenue [Line Items]
Net revenue	$ 46,142	$ 51,548	$ 148,283	$ 150,223

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

RESTRUCTURING - Schedule of Restructuring Charges by Type (Details) - IWCO Direct's Competitive Improvement Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 97	$ 118	$ 97	$ 974
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Costs incurred	97	(16)	97	664
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 0	$ 134	$ 0	$ 310

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Apr. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS As of April 30, 2023, SPHG Holdings and its affiliates, including Steel Partners, Handy & Harman Ltd. and Steel Partners Ltd., beneficially owned approximately 52.6% of our outstanding capital stock, including the if-converted value of the SPHG Note and shares of Series C Convertible Preferred Stock that vote on an as-converted basis together with our common stock. Warren G. Lichtenstein, our Interim Chief Executive Officer and the Executive Chairman of our Board, is also the Executive Chairman of Steel Partners GP. Glen Kassan, our Vice Chairman of the Board of Directors and former Chief Administrative Officer, is an employee of Steel Services. Jack L. Howard, the President and a director of Steel Holdings GP, is also a director. Following the receipt of stockholder approval of the issuance of the Series E Convertible Preferred Stock on June 6, 2023, upon conversion of the Series E Convertible Preferred Stock, the Steel Partners Group (as defined above) would hold approximately 85% of the outstanding equity interests of Steel Connect. Refer to Note 18 - "Subsequent Events" for further details. SPHG Note Transaction On February 28, 2019, the Company entered into a SPHG Note Purchase Agreement with SPHG Holdings, whereby SPHG Holdings agreed to loan the Company $14.9 million in exchange for the SPHG Note. On March 9, 2023, the Company and SPHG Holdings entered into an amendment to the SPHG Note. Pursuant to the SPHG Note Amendment, the maturity date of the SPHG Note was extended six months from March 1, 2024 to September 1, 2024. In addition, the Company repaid $1.0 million in principal amount of the SPHG Note on the Amendment Date, and will be required to repay an additional $1.0 million principal amount of the note on the three month anniversary of the SPHG Note Amendment, which occurred on June 9, 2023. In connection with the SPHG Note Amendment, the Company paid SPHG Holdings a cash amendment fee of $0.1 million, and derecognized $0.2 million of the debt discount in proportion to the reduction of the principal balance during the current period. No other changes were made to the terms of the SPHG Note besides the items discussed. As of April 30, 2023, SPHG Holdings held $13.9 million principal amount of the SPHG Note, compared to $14.9 million principal amount at July 31, 2022. As of April 30, 2023 and July 31, 2022, the net carrying value of the SPHG Note was $11.6 million and $11.0 million, respectively. During the three months ended April 30, 2023 and 2022, the Company recognized interest expense of $0.9 million and $0.7 million, respectively, associated with the SPHG Note. During the nine months ended April 30, 2023 and 2022, the Company recognized interest expense of $2.5 million and $2.1 million, respectively, associated with the SPHG Note. Series C Convertible Preferred Stock Transaction On December 15, 2017, the Company entered into a Preferred Stock Purchase Agreement with SPHG Holdings, pursuant to which the Company issued 35,000 shares of the Company's newly created Series C Convertible Preferred Stock to SPHG Holdings at a price of $1,000 per share, for an aggregate purchase consideration of $35.0 million. The terms, rights, obligations and preferences of the Series C Convertible Preferred Stock are set forth in the Series C Certificate of Designations, which has been filed with the Secretary of State of the State of Delaware. During each of the three months ended April 30, 2023 and 2022, the Company paid dividends of $0.5 million associated with the Series C Convertible Preferred Stock. During each of the six months ended April 30, 2023 and 2022, the Company paid dividends of $1.6 million associated with the Series C Convertible Preferred Stock. On or after December 15, 2022, each holder of Preferred Stock can also require the Company to redeem its Series C Convertible Preferred Stock in cash at a price equal to the Liquidation Preference (as defined in Series C Certificate of Designations), or approximately $35.2 million. As of April 30, 2023, this right had not been exercised by holders of the Series C Convertible Preferred Stock. Series E Convertible Preferred Stock Transaction On April 30, 2023, the Company entered into a series of agreements with Steel Partners, in which the Steel Partners Group transferred certain marketable securities held by the Steel Partners Group to the Company in exchange for 3.5 million shares of Series E Convertible Preferred Stock. The transfer and closing of the transaction was executed on May 1, 2023, making the transaction a subsequent event. As such, the Series E Convertible Preferred Stock are not included in the beneficial ownership calculation as of April 30, 2023 above. See Note 18 - "Subsequent Events" for further details. STCN Management Services Agreement On June 14, 2019, the Company entered into an agreement (the "STCN Management Services Agreement") with Steel Services Ltd. ("Steel Services"), an indirect wholly-owned subsidiary of Steel Partners. The Management Services Agreement was effective as of June 1, 2019. Pursuant to the STCN Management Services Agreement, Steel Services provides the Company and its subsidiaries with the non-exclusive services of certain employees, including certain executive officers and other corporate services. In connection with the IWCO Direct Disposal, the monthly fee under the STCN Management Services Agreement was reduced effective on the Disposal Date primarily for the portion of the fee attributable to IWCO Direct. Total expenses incurred related to the STCN Management Services Agreement for the three months ended April 30, 2023 and 2022 were $0.6 million and $0.8 million, respectively. Total expenses incurred related to the STCN Management Services Agreement for the nine months ended April 30, 2023 and 2022 were $1.7 million and $2.5 million, respectively. As of April 30, 2023 and July 31, 2022, amounts due to Steel Services was $0.7 million and $1.0 million, respectively.

DEBT - Net Carrying Value of the Notes (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022	Feb. 28, 2019
Debt Instrument [Line Items]
Carrying amount of equity component	$ 8,171	$ 8,200
Total debt, net	11,543	10,968
SPHG Holdings \| Convertible Notes Payable
Debt Instrument [Line Items]
Principal amount of note	13,940	14,940	$ 14,900
Unamortized debt discount	(2,354)	(3,893)
Total debt, net	$ 11,586	$ 11,047

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

COMPREHENSIVE INCOME (LOSS) - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Apr. 30, 2023	Jul. 31, 2020
Equity [Abstract]
Other comprehensive income (loss), defined benefit plan, settlement and curtailment gain (loss), before tax		$ 2.4
Increase of accrued pension liability	$ 1.1

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

9 Months Ended

Apr. 30, 2023

Payables and Accruals [Abstract]

Components of accrued expenses

The following tables reflect the components of "Accrued expenses" and "Other current liabilities":


	April 30, 2023		July 31, 2022
Accrued Expenses	(In thousands)
Accrued audit, tax and legal	$	8,058	$	4,564
Accrued compensation	6,585		5,099
Accrued taxes	2,929		3,344
Accrued price concessions	2,776		4,549
Accrued occupancy costs	1,639		1,671
Accrued IT costs	638		1,108



Accrued other	6,529		8,061
Total accrued expenses	$	29,154	$	28,396

Components of other current liabilities


	April 30, 2023		July 31, 2022
Other Current Liabilities	(In thousands)
Accrued pricing liabilities	$	9,435	$	9,435
Deferred revenue - current	2,949		2,705

Other	1,376		1,342
Total other current liabilities	$	13,760	$	13,482

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Apr. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Transfer and Exchange Agreement On April 30, 2023, the Company and Steel Partners, Steel Excel, Inc. ("Steel Excel"), and Steel Partners' wholly-owned subsidiary WebFinancial Holding Corporation ("WebFinancial," and together with Steel Excel, the "Exchanging Parties"), entered into a Transfer and Exchange Agreement dated as of April 30, 2023 (the "Exchange Agreement"). Pursuant to the Exchange Agreement, on April 30, 2023, the Exchanging Parties exchanged an aggregate of 3.6 million shares of common stock, par value $0.10 per share, of Aerojet (the "Aerojet Shares") held by the Exchanging Parties for 3.5 million shares of newly created Series E Convertible Preferred Stock of the Company (the "Series E Convertible Preferred Stock," and such exchange and related transactions, the "Transaction") having a liquidation preference equal to $58.1087 per share. Pursuant to the Exchange Agreement, the Company held a special stockholders' meeting on June 6, 2023 to consider and vote upon the rights of the Series E Convertible Preferred Stock to vote and receive dividends together with the common stock (as defined below) on an as- converted basis and the issuance of common stock upon conversion of the Series E Convertible Preferred Stock by the holders at their option, pursuant to the rules and regulations of Nasdaq (the "Nasdaq Proposal") and any other matters which, following the closing of the Transaction, the Company's board of directors (the "STCN Board,” “Board of Directors” or “Board") deemed appropriate to consider and vote upon at the special stockholders’ meeting. Following the approval of the issuance of the Series E Convertible Preferred Stock by the Company’s stockholders at the special stockholders' meeting, the Series E Convertible Preferred Stock is convertible into an aggregate of 184.9 million shares of common stock, subject to adjustment as set forth in the Series E Certificate of Designations, and will vote together with the common stock and participate in any dividends paid on the common stock (except as described below), in each case, on an as-converted basis. The Exchange Transaction will be accounted for as of May 1, 2023, which is the date the consideration was exchanged between the Company and Steel Partners. Stockholders' Agreement Concurrently with the execution of the Exchange Agreement, the Company, Steel Partners, Steel Excel, WebFinancial, WHX CS, LLC, WF Asset Corp., Steel Partners Ltd., Warren G. Lichtenstein and Jack L. Howard (together, the "SP Investors") entered into a Stockholders' Agreement dated as of April 30, 2023 (the "Stockholders' Agreement"). Pursuant to the Stockholders' Agreement, the parties agreed to certain aspects of the Company's governance, including the maintenance of the Board size at seven directors and the creation of an Independent Audit Committee or Disinterested Audit Committee (as defined therein). The Stockholders' Agreement further provides that (a) prior to September 1, 2025 the prior approval of the Independent Audit Committee or the Disinterested Audit Committee, as applicable, is required for the following: (i) a voluntary delisting of the common stock from the applicable stock exchange or a transaction (including a merger, recapitalization, stock split or otherwise) which results in the delisting of the common stock, STCN ceasing to be an SEC reporting company, or STCN filing a Form 25 or Form 15 or any similar form with the SEC; (ii) an amendment to the terms of the Management Services Agreement (the "Services Agreement") dated June 14, 2019, by and between STCN and Steel Services Ltd.; and (iii) any related party transaction between STCN and the SP Investors and their subsidiaries and affiliates; (b) prior to September 1, 2028, the prior approval of the Independent Audit Committee or the Disinterested Audit Committee, as applicable, is required for the Board to approve a going private transaction pursuant to which Steel Partners or its subsidiaries or affiliates acquires the outstanding shares of common stock they do not own (or any alternative transaction that would have the same impact); and (c) until the Final Sunset Date, the prior approval of the Independent Audit Committee or the Disinterested Audit Committee, as applicable, is required (i) for the Board to approve a short-form or squeeze-out merger between STCN and the SP Investors; or (ii) prior to any transfer of equity interests in STCN by the members of the SP Group (as defined in the Stockholders' Agreement) if such transfers would result in 80% of the voting power and value of the equity interests in STCN that are held by the members of the SP Group being held by one corporate entity. The Stockholders' Agreement also provides that 70% of the net proceeds received by the Company upon resolution of the Reith litigation will be distributed to the Company’s stockholders with the SP Investors agreeing to waive their portion of any such distribution to the extent of any shares of common stock held as of the date of the Stockholders’ Agreement or issuable upon conversion of the Series E Convertible Preferred Stock held by the SP Investors and the Series C Convertible Preferred Stock of STCN, and the SPHG Note. Any amendment to the Stockholders’ Agreement by the Company prior to the date that any person or group of related persons owns 100% of the equity securities of the Company requires the prior approval of the Independent Audit Committee or the Disinterested Audit Committee, as applicable. Voting Agreement Concurrently with the execution of the Exchange Agreement, the SP Investors and the Company entered into a Voting Agreement, dated as of April 30, 2023 (the “Voting Agreement”). Pursuant to the terms and conditions set forth in the Voting Agreement, each SP Investor agreed to (i) vote, or cause to be voted, all securities of the Company beneficially owned by each such SP Investor for the approval of the Nasdaq Proposal and against any transaction or proposal that may delay, impair or nullify the approval of the Nasdaq Proposal; (ii) not enter into an agreement to vote in a manner inconsistent with the foregoing; and (iii) not transfer such Shares of common stock and Subject Shares (as defined in the Stockholders' Agreement), without the prior consent of the Company’s audit committee, subject to certain standard exceptions. As the SP Investors already owned more than a majority of the voting power of the Company when they signed the Voting Agreement, approval of the Nasdaq Proposal was assured, and approval was received at a special meeting of stockholders held on June 6, 2023. The STCN Board, acting on the unanimous recommendation of a strategic planning committee of the STCN Board consisting solely of independent and disinterested directors of STCN (the "Strategic Planning Committee"), approved the Transaction. The Strategic Planning Committee exclusively negotiated the terms of the Transaction with Steel Partners, with the assistance of its independent legal counsel and financial advisors, which also issued a fairness opinion with respect to the Transaction. Stockholder Approval of Reverse/Forward Stock Split At the special stockholders meeting, the stockholders also approved proposals to amend the Company’s restated certificate of incorporation (the “Charter”), to effect a 1-for-3,500 reverse stock split of the Common Stock (the “Reverse Stock Split”), followed immediately by a 375-for-1 forward stock split of the Common Stock (the “Forward Stock Split,” and, together with the Reverse Stock Split, the “Reverse/Forward Stock Split”). On June 7, 2023, the Board approved the Reverse/Forward Stock Split, and as such, the Board directed the Company to file with the State of Delaware certificates of amendment to our Charter to effectuate the Reverse/Forward Stock Split. Each share of Common Stock held by a stockholder of record owning fewer than 3,500 shares of Common Stock immediately prior to the effective time of the Reverse Stock Split (the “effective time”) will be converted into the right to receive a payment in cash (without interest) equal to the fair value of such shares as of the time when those entitled to receive such payments are determined, which shall be an amount equal to such number of shares of Common Stock held multiplied by the average of the closing sales prices of the Common Stock on Nasdaq for the five consecutive trading days immediately preceding the effective date of the Reverse Stock Split, and each share of Common Stock held by a stockholder of record owning 3,500 shares or more immediately prior to the effective time of the Reverse Stock Split will be converted into a new number of shares of Common Stock based on a ratio of 375 shares of Common Stock for each share of Common Stock owned immediately following the Reverse Stock Split, including any fractional shares owned following the Reverse Stock Split; however, with respect to any fractions of a share of Common Stock that may be held as a result of the Forward Stock Split, stockholders will receive a payment in cash (without interest) equal to the fair value of such fractions as of the time when those entitled to receive such fractions are determined, which shall be an amount equal to such fractions multiplied by the average of the closing sales prices of the Common Stock on Nasdaq for the five consecutive trading days immediately preceding the effective date of the Reverse/Forward Stock Split (with such average closing sales prices being adjusted to give effect to the Reverse/Forward Stock Split).

SEGMENT INFORMATION - Summarized Financial Information of Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting Information [Line Items]
Total segment net revenue	$ 46,142	$ 51,548	$ 148,283	$ 150,223
Total operating income	305	31	6,789	652
Total other income (expense), net	3,575	1,306	2,301	(745)
Income (loss) from continuing operations before income taxes	3,880	1,337	9,090	(93)
Operating Segments
Segment Reporting Information [Line Items]
Total operating income	5,249	1,548	16,488	5,894
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Total segment net revenue	46,142	51,548	148,283	150,223
Total operating income	5,249	1,548	16,488	5,894
Corporate
Segment Reporting Information [Line Items]
Total operating income	$ (4,944)	$ (1,517)	$ (9,699)	$ (5,242)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

EARNINGS (LOSS) PER SHARE - Reconciliation of (Loss) Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Earnings Per Share [Abstract]
Net income (loss) from continuing operations	$ 3,029	$ (9,695)	$ 7,460	$ (12,163)
Net income (loss) from discontinued operations	0	39,895	0	(108)
Net income (loss)	3,029	30,200	7,460	(12,271)
Less: Preferred dividends on Series C redeemable preferred stock	(519)	(537)	(1,593)	(1,611)
Net income (loss) attributable to common stockholders	2,510	29,663	5,867	(13,882)
Dividends on preferred stock	519	0	1,593	0
Net income (loss) attributable to common stockholders - assuming dilution	$ 3,029	$ 29,663	$ 7,460	$ (13,882)
Net income (loss) from continuing operations - basic (in usd per share)	$ 0.04	$ (0.17)	$ 0.10	$ (0.23)
Net income from discontinued operations - basic (in usd per share)	0	0.67	0	0
Net income (loss) attributable to common stockholders - basic (in usd per share)	0.04	0.50	0.10	(0.23)
Net income (loss) from continuing operations - diluted (in usd per share)	0.04	(0.17)	0.09	(0.23)
Net income from discontinued operations - diluted (in usd per share)	0	0.67	0	0
Net income (loss) attributable to common stockholders - diluted (in usd per share)	$ 0.04	$ 0.50	$ 0.09	$ (0.23)
Weighted average common shares outstanding - basic (in shares)	60,305	59,853	60,186	59,961
Common stock equivalents - Restricted stock and restricted stock shares (in shares)	533	0	516	0
Common stock equivalents - Preferred stock (in shares)	17,857	0	17,857	0
Weighted average common shares outstanding - diluted (in shares)	78,695	59,853	78,559	59,961

SEGMENT INFORMATION (Tables)

9 Months Ended

Apr. 30, 2023

Segment Reporting [Abstract]

Schedule of financial information of continuing operations

Summarized financial information of the Company's continuing operations by operating segment is as follows:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Net revenue:
Supply Chain	$	46,142	$	51,548	148,283		150,223
Total segment net revenue	46,142		51,548		$	148,283	$	150,223
Operating income:
Supply Chain	5,249		1,548		16,488		5,894
Total segment operating income	5,249		1,548		16,488		5,894
Corporate-level activity	(4,944)		(1,517)		(9,699)		(5,242)
Total operating income	305		31		6,789		652
Total other income (expense), net	3,575		1,306		2,301		(745)
Income (loss) before income taxes	$	3,880	$	1,337	$	9,090	$	(93)

Summarized financial information of the Company's capital expenditures and depreciation expense for the Supply Chain reportable segment is as follows:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Capital expenditures	$	445	$	316	$	1,311	$	1,142
Depreciation expense	503		523		1,427		1,698

Schedule of total assets of continuing operations


	April 30, 2023		July 31, 2022
	(In thousands)
Total assets:
Supply Chain	$	115,682	$	101,637
Corporate	35,258		36,112
Total assets	$	150,940	$	137,749

Schedule of financial information of net revenue from external customers by group of services

Summarized financial information of the Company's net revenue by geographic location is as follows:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Mainland China	13,852		17,858		48,049		53,248
United States	12,917		13,183		38,262		37,336
Czech	6,202		5,004		19,497		11,761
Singapore	4,872		6,180		15,149		18,056
Netherlands	4,705		4,739		14,940		14,655
Other	3,594		4,584		12,386		15,167
	$	46,142	$	51,548	$	148,283	$	150,223

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Apr. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of financial assets measured at fair value on recurring basis and classified by fair value hierarchy

The following tables present the Company's financial assets measured at fair value on a recurring basis as of April 30, 2023 and July 31, 2022, classified by fair value hierarchy:


			Fair Value Measurements at Reporting Date Using
(In thousands)	April 30, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds	$	31,716	$	31,716	$	—	$	—


			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2022		Level 1		Level 2		Level 3
Assets:
Money market funds	$	31,756	$	31,756	$	—	$	—

CONTINGENCIES - Additional Information (Details) - USD ($)	Aug. 18, 2022	Aug. 17, 2021	Aug. 13, 2021	Dec. 15, 2017
Reith v. Lichtenstein
Contingencies [Line Items]
Cash paid to plaintiff			$ 2,750,000
Legal fees	$ 1,600,000	$ 2,050,000.00
Litigation settlement, amount awarded from other party	3,000,000
Litigation settlement, expense	125,000
Litigation settlement, distribution amount	$ 1.00
Reith v. Lichtenstein \| Director \| Restricted Stock
Contingencies [Line Items]
Number of shares surrendered			3,300,000
Reith v. Lichtenstein \| Director \| Restricted Stock \| Warren Lichtenstein
Contingencies [Line Items]
Number of vested shares surrendered			1,833,333
Number of nonvested shares surrendered			300,000
Reith v. Lichtenstein \| Director \| Restricted Stock \| Jack Howard
Contingencies [Line Items]
Number of vested shares surrendered			916,667
Number of nonvested shares surrendered			150,000
Reith v. Lichtenstein \| Director \| Restricted Stock \| William Fejes
Contingencies [Line Items]
Number of vested shares surrendered			100,000
Series C Convertible Preferred Stock \| Purchase Agreement \| SPHG Holdings
Contingencies [Line Items]
Proceeds from issuance of preferred stock				$ 35,000,000

INVENTORIES, NET - Components of Inventories (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 5,990	$ 7,330
Work-in-process	143	124
Finished goods	786	697
Inventories, net	$ 6,919	$ 8,151

SEGMENT INFORMATION

9 Months Ended

Apr. 30, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATIONSubsequent to the Company’s disposition of the Direct Marketing reportable segment in the IWCO Direct Disposal, the Company has one reportable segment: Supply Chain. The Company also has Corporate-level activity, which consists primarily of costs associated with certain corporate administrative functions such as legal, finance and share-based compensation, which are not allocated to the Company's reportable segment. The Corporate-level balance sheet information includes cash and cash equivalents, debt and other assets and liabilities which are not allocated to the operations of the Company's operating segment. All significant intra-segment amounts have been eliminated. Management evaluates segment performance based on segment net revenue and operating income (loss).

Management evaluates segment performance based on segment net revenue, operating income (loss) and "adjusted operating income (loss)," which is defined as the operating income (loss) excluding net charges related to depreciation, amortization of long-lived asset impairment, share-based compensation and restructuring. These items are excluded because they may be considered to be of a non-operational or non-cash nature. Historically, the Company has recorded significant impairment and restructuring charges, and therefore management uses adjusted operating income (loss) to assist in evaluating the performance of the Company's core operations.

Summarized financial information of the Company's continuing operations by operating segment is as follows:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Net revenue:
Supply Chain	$	46,142	$	51,548	148,283		150,223
Total segment net revenue	46,142		51,548		$	148,283	$	150,223
Operating income:
Supply Chain	5,249		1,548		16,488		5,894
Total segment operating income	5,249		1,548		16,488		5,894
Corporate-level activity	(4,944)		(1,517)		(9,699)		(5,242)
Total operating income	305		31		6,789		652
Total other income (expense), net	3,575		1,306		2,301		(745)
Income (loss) before income taxes	$	3,880	$	1,337	$	9,090	$	(93)


	April 30, 2023		July 31, 2022
	(In thousands)
Total assets:
Supply Chain	$	115,682	$	101,637
Corporate	35,258		36,112
Total assets	$	150,940	$	137,749

Summarized financial information of the Company's capital expenditures and depreciation expense for the Supply Chain reportable segment is as follows:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Capital expenditures	$	445	$	316	$	1,311	$	1,142
Depreciation expense	503		523		1,427		1,698

Summarized financial information of the Company's net revenue by geographic location is as follows:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Mainland China	13,852		17,858		48,049		53,248
United States	12,917		13,183		38,262		37,336
Czech	6,202		5,004		19,497		11,761
Singapore	4,872		6,180		15,149		18,056
Netherlands	4,705		4,739		14,940		14,655
Other	3,594		4,584		12,386		15,167
	$	46,142	$	51,548	$	148,283	$	150,223

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

COMPREHENSIVE INCOME (LOSS) - Accumulated Other Comprehensive Income Items (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (4,754)	$ (36,740)	$ (9,206)	$ 6,212
Foreign currency translation adjustment	(819)	(2,461)	999	(2,276)
Pension liability adjustments			(1,078)
Net current-period other comprehensive income	(819)	(2,461)	(79)	(2,276)
Ending balance	(2,889)	(9,427)	(2,889)	(9,427)
Accumulated Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	4,880	7,347	4,140	7,162
Ending balance	4,061	4,886	4,061	4,886
Foreign Currency Items
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			6,063	9,762
Foreign currency translation adjustment			999	(2,276)
Pension liability adjustments			0
Net current-period other comprehensive income			999	(2,276)
Ending balance	7,062	7,486	7,062	7,486
Pension Items
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			(1,923)	(2,600)
Foreign currency translation adjustment			0	0
Pension liability adjustments			(1,078)
Net current-period other comprehensive income			(1,078)	0
Ending balance	$ (3,001)	$ (2,600)	$ (3,001)	$ (2,600)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

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+ Details

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	Apr. 30, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Unrecognized tax benefits related to federal, state and foreign taxes	$ 0.8	$ 0.8
Liabilities for interest expense related to uncertain tax positions	0.1	$ 0.1
Expected unrecognized tax benefits to reverse in the next twelve months	$ 0.2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Payables and Accruals [Abstract]
Accrued audit, tax and legal	$ 8,058	$ 4,564
Accrued compensation	6,585	5,099
Accrued taxes	2,929	3,344
Accrued price concessions	2,776	4,549
Accrued occupancy costs	1,639	1,671
Accrued IT costs	638	1,108
Accrued other	6,529	8,061
Total accrued expenses	$ 29,154	$ 28,396

DISCONTINUED OPERATIONS

9 Months Ended

Apr. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

As discussed in Note 1 - "Nature of Operations", on February 25, 2022, the Company completed the disposition of IWCO Direct. The Company received no cash consideration for the disposition (the entire transaction being referred to as the “IWCO Direct Disposal”). As of the Disposal Date and subject to the terms and conditions of the Transaction Agreement, the parties entered into certain mutual releases as fully set forth in the Transaction Agreement. In addition, as part of the overall transaction, the Buyer issued a note in the principal amount of $6.9 million payable to the Company as consideration for intercompany obligations owed by IWCO Direct to the Company (the “Subordinated Note”). The Subordinated Note is subordinated to the obligations under the Financing Agreement (including any amendments or other modifications thereto) and matures on the date that is the earlier of (a) the later of (i) August 25, 2027 and (ii) the date that is six months after the maturity of the Financing Agreement, or (b) the date that is six months after repayment in full of the obligations under the Financing Agreement. Due to the subordinated nature of the Subordinated Note and the assessment of collectability, the Company determined the fair value of the Subordinated Note was zero.

The Company deconsolidated IWCO Direct as of the Disposal Date as the Company no longer held a controlling financial interest in IWCO Direct as of that date. The Company did not have any amounts included in accumulated other comprehensive loss associated with IWCO Direct at the time of deconsolidation. The disposal of IWCO Direct represents a strategic shift to exit the direct marketing business and its results are reported as discontinued operations for the prior year periods presented.

A summary of the results of the discontinued operations is as follows:


	Three months ended April 30,		Nine months ended April 30,
	2022		2022
Net revenue	$	18,167	$	165,542
Cost of revenue	17,894		156,697
Gross profit	273		8,845
Operating expenses:
Selling, general and administrative	4,517		30,744
Amortization of intangible assets	1,218		9,303

Total operating expenses	5,735		40,047
Operating loss	(5,462)		(31,202)
Other income:
Gain upon deconsolidation of IWCO Direct	38,043		38,043
Interest expense	(1,848)		(16,111)
Total other income, net	36,195		21,932
Income (loss) from discontinued operations before income taxes	30,733		(9,270)
Income tax benefit	(9,162)		(9,162)
Net income (loss) from discontinued operations	$	39,895	$	(108)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Current Assets
Cash and cash equivalents	$ 62,738	$ 53,142
Accounts receivable, trade, net of allowance for doubtful accounts of $1,177 and $44 at April 30, 2023 and July 31, 2022, respectively	36,948	40,083
Inventories, net	6,919	8,151
Funds held for clients	3,158	4,903
Prepaid expenses and other current assets	4,985	3,551
Total current assets	114,748	109,830
Property and equipment, net	3,401	3,534
Operating lease right-of-use assets	28,892	19,655
Other assets	3,899	4,730
Total assets	150,940	137,749
Current Liabilities
Accounts payable	26,290	30,553
Accrued expenses	29,154	28,396
Funds held for clients	3,064	4,903
Current lease obligations	7,994	6,466
Other current liabilities	13,760	13,482
Total current liabilities	80,262	83,800
Convertible note payable	11,586	11,047
Long-term lease obligations	21,260	12,945
Other long-term liabilities	5,546	3,983
Total long-term liabilities	38,392	27,975
Total liabilities	118,654	111,775
Series C redeemable preferred stock, $0.01 par value per share. 35,000 shares authorized, issued and outstanding at April 30, 2023 and July 31, 2022	35,175	35,180
Stockholders' deficit:
Series C convertible preferred stock, $0.01 par value per share. 4,965,000 shares authorized at April 30, 2023 and July 31, 2022; zero shares issued and outstanding at April 30, 2023 and July 31, 2022	0	0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 60,942,460 issued and outstanding shares at April 30, 2023; 60,529,558 issued and outstanding shares at July 31, 2022	609	605
Additional paid-in capital	7,479,891	7,479,366
Accumulated deficit	(7,487,450)	(7,493,317)
Accumulated other comprehensive income	4,061	4,140
Total stockholders' deficit	(2,889)	(9,206)
Total liabilities, redeemable preferred stock and stockholders' deficit	$ 150,940	$ 137,749

COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Apr. 30, 2023

Equity [Abstract]

Schedule of accumulated other comprehensive items

Accumulated other comprehensive items consist of the following:


	Foreign Currency Items		Pension Items		Total
	(In thousands)
Accumulated other comprehensive income (loss) as of July 31, 2022	$	6,063	$	(1,923)	$	4,140
Foreign currency translation adjustment	999		—		999

Pension liability adjustments	—		(1,078)		(1,078)
Net current-period other comprehensive income	999		(1,078)		(79)
Accumulated other comprehensive income (loss) as of April 30, 2023	$	7,062	$	(3,001)	$	4,061


	Foreign Currency Items		Pension Items		Total
	(In thousands)
Accumulated other comprehensive income (loss) as of July 31, 2021	$	9,762	$	(2,600)	$	7,162
Foreign currency translation adjustment	(2,276)		—		(2,276)


Net current-period other comprehensive income	(2,276)		—		(2,276)
Accumulated other comprehensive income (loss) as of April 30, 2022	$	7,486	$	(2,600)	$	4,886

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on Recurring Basis and Classified by Fair Value Hierarchy (Details) - Fair Value, Measurements, Recurring - Money market funds - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 31,716	$ 31,756
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	31,716	31,756
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 0	$ 0

RESTRUCTURING - Restructuring Liability Rollforward (Details) - IWCO Direct's Competitive Improvement Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Restructuring Reserve [Roll Forward]
Costs incurred	$ 97	$ 118	$ 97	$ 974
IWCO Direct Holdings, Inc.
Restructuring Reserve [Roll Forward]
Beginning balance			892
Costs incurred			97
Cash payments			(733)
Non-cash relief of accrual			0
Change in estimates			0
Ending balance	$ 256		$ 256

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Accounts receivable, trade, allowance for doubtful accounts	$ 1,177	$ 44
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	4,965,000	4,965,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,400,000,000	1,400,000,000
Common stock, shares issued (in shares)	60,942,460	60,529,558
Common stock, shares outstanding (in shares)	60,942,460	60,529,558
Redeemable Convertible Preferred Stock
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	35,000	35,000
Preferred stock, shares issued (in shares)	35,000	35,000
Preferred stock, shares outstanding (in shares)	35,000	35,000

REVENUE RECOGNITION - Summary of Changes in Deferred Revenue (Detail) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Change in Deferred Revenue
Balance at beginning of period	$ 2,839	$ 2,320
Deferral of revenue	1,595	2,049
Recognition of deferred amounts upon satisfaction of performance obligation	(1,361)	(1,140)
Balance at end of period	$ 3,073	$ 3,229

FAIR VALUE MEASUREMENTS

9 Months Ended

Apr. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

ASC 820, Fair Value Measurement, provides that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. ASC 820 requires the Company to use valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows:

Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets

Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs

Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants would price the assets or liabilities

The carrying value of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, current liabilities and the revolving line of credit under the Umpqua Revolver approximate fair value because of the short maturity of these instruments. We believe that the carrying value of our long-term debt approximates fair value because the stated interest rates of this debt is consistent with current market rates. The carrying value of capital lease obligations approximates fair value, as estimated by using discounted future cash flows based on the Company's current incremental borrowing rates for similar types of borrowing arrangements.

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following tables present the Company's financial assets measured at fair value on a recurring basis as of April 30, 2023 and July 31, 2022, classified by fair value hierarchy:


			Fair Value Measurements at Reporting Date Using
(In thousands)	April 30, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds	$	31,716	$	31,716	$	—	$	—


			Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2022		Level 1		Level 2		Level 3
Assets:
Money market funds	$	31,756	$	31,756	$	—	$	—

There were no transfers between Levels 1, 2 or 3 during any of the periods presented.

When available, quoted prices are used to determine fair value. When quoted prices in active markets are available, investments are classified within Level 1 of the fair value hierarchy. When quoted prices in active markets are not available, fair values are determined using pricing models, and the inputs to those pricing models are based on observable market inputs. The inputs to the pricing models are typically benchmark yields, reported trades, broker-dealer quotes, issuer spreads and benchmark securities, among others.

Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis

The Company reviews the carrying amounts of these assets whenever certain events or changes in circumstances indicate that the carrying amounts may not be recoverable. An impairment loss is recognized when the carrying amount of the asset group or reporting unit is not recoverable and exceeds its fair value. The Company estimates the fair values of assets subject to impairment based on the Company's own judgments about the assumptions that market participants would use in pricing the assets and on observable market data, when available.

Fair Value of Financial Instruments

The Company's financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable, customer deposits, accounts payable, restricted cash and debt, and are reflected in the consolidated financial statements at carrying value. With the exception of the SPHG Note and long-term debt, carrying value approximates fair value for these items due to their short-term nature. The Company believes that the carrying value of the liability component of the SPHG Note and our long-term debt approximates fair value because the stated interest rates of this debt is consistent with current market rates. Included in cash and cash equivalents in the accompanying condensed consolidated balance sheets are money market funds. These are valued at quoted market prices in active markets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

9 Months Ended

Apr. 30, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

The following tables reflect the components of "Accrued expenses" and "Other current liabilities":


	April 30, 2023		July 31, 2022
Accrued Expenses	(In thousands)
Accrued audit, tax and legal	$	8,058	$	4,564
Accrued compensation	6,585		5,099
Accrued taxes	2,929		3,344
Accrued price concessions	2,776		4,549
Accrued occupancy costs	1,639		1,671
Accrued IT costs	638		1,108



Accrued other	6,529		8,061
Total accrued expenses	$	29,154	$	28,396


	April 30, 2023		July 31, 2022
Other Current Liabilities	(In thousands)
Accrued pricing liabilities	$	9,435	$	9,435
Deferred revenue - current	2,949		2,705

Other	1,376		1,342
Total other current liabilities	$	13,760	$	13,482

As of both April 30, 2023 and July 31, 2022, the Company had accrued pricing liabilities of approximately $9.4 million. As previously reported by the Company, several principal adjustments were made to its historic financial statements for periods ended on or before January 31, 2012, the most significant of which related to the treatment of vendor rebates in its pricing policies. Where the retention of a rebate or a mark-up was determined to have been inconsistent with a client contract, the Company concluded that these amounts were not properly recorded as revenue. Accordingly, revenue was reduced by an equivalent amount for the period that the rebate was estimated to have been affected. A corresponding liability for the same amount was recorded in that period (referred to as accrued pricing liabilities). The Company believes that it may not ultimately be required to pay all or any of the accrued pricing liabilities based upon the expiration of statutes of limitations, and due in part to the nature of the interactions with its clients. The remaining accrued pricing liabilities as of April 30, 2023 will be derecognized when there is sufficient information for the Company to conclude that such liabilities are not subject to escheatment and have been extinguished, which may occur through payment, legal release, or other legal or factual determination. The Company has not provided for any provision for interest and or penalties related to escheatment as it has concluded that such is not probable to occur, and any potential interest and penalties cannot be reasonably estimated.

INCOME TAXES	9 Months Ended
INCOME TAXES	Apr. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company operates in multiple taxing jurisdictions, both within and outside of the United States. For the nine months ended April 30, 2023, the Company was profitable in certain jurisdictions, resulting in an income tax expense using enacted rates in those jurisdictions. As of both April 30, 2023 and July 31, 2022, the total amount of the liability for unrecognized tax benefits related to federal, state and foreign taxes was approximately $0.8 million. On August 16, 2022, the Inflation Reduction Act (“IRA”) was signed into law in the United States. Among other provisions, the IRA includes a 15.0% corporate minimum tax rate on the adjusted financial statement income of certain large corporations and a 1.0% excise tax on corporate stock repurchases made after December 31, 2022 by U.S. publicly traded corporations and certain U.S. subsidiaries of non-U.S. publicly traded corporations, as well as significant enhancements of U.S. tax incentives relating to climate and energy investments. Although we do not expect the IRA to have a material impact on our consolidated financial statements, the full effect on us is uncertain. On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security ("CARES") Act into law, which is intended to respond to the COVID-19 pandemic and its impact on the economy, public health, state and local governments, individuals and businesses. We do not expect the CARES Act to have a material impact on our consolidated financial statements. Uncertain Tax Positions In accordance with the Company's accounting policy, interest related to unrecognized tax benefits is included in the income tax expense line of the condensed consolidated statements of operations. As of April 30, 2023 and July 31, 2022, the liabilities for interest expense related to uncertain tax positions were $0.1 million and $0.1 million, respectively. The Company expects $0.2 million of unrecognized tax benefits and related interest to reverse in the next twelve months. The Company is subject to U.S. federal income tax and various state, local and international income taxes in numerous jurisdictions. The federal and state tax returns are generally subject to tax examinations for the tax years ended July 31, 2019 through July 31, 2022. To the extent the Company has tax attribute carryforwards, the tax year in which the attribute was generated may still be adjusted upon examination by the Internal Revenue Service or state tax authorities to the extent utilized in a future period. In addition, a number of tax years remain subject to examination by the appropriate government agencies for certain countries in the Europe and Asia regions. In Europe, the Company's 2014 through 2021 tax years remain subject to examination in most locations, while the Company's 2010 through 2021 tax years remain subject to examination in most Asia locations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$ 7,224	$ 7,450
Operating cash flows from finance leases	0	2
Financing cash flows from finance leases	$ 38	$ 54

RESTRUCTURING - Narrative (Details) - IWCO Direct's Competitive Improvement Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 97	$ 118	$ 97	$ 974
Supply Chain
Restructuring Cost and Reserve [Line Items]
Costs incurred		$ 100		$ 900

COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Apr. 30, 2023

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

Comprehensive income (loss) combines net income (loss) and other comprehensive items. Other comprehensive items represent certain amounts that are reported as components of stockholders' equity in the accompanying condensed consolidated balance sheets. Accumulated other comprehensive items consist of the following:


	Foreign Currency Items		Pension Items		Total
	(In thousands)
Accumulated other comprehensive income (loss) as of July 31, 2022	$	6,063	$	(1,923)	$	4,140
Foreign currency translation adjustment	999		—		999

Pension liability adjustments	—		(1,078)		(1,078)
Net current-period other comprehensive income	999		(1,078)		(79)
Accumulated other comprehensive income (loss) as of April 30, 2023	$	7,062	$	(3,001)	$	4,061


	Foreign Currency Items		Pension Items		Total
	(In thousands)
Accumulated other comprehensive income (loss) as of July 31, 2021	$	9,762	$	(2,600)	$	7,162
Foreign currency translation adjustment	(2,276)		—		(2,276)


Net current-period other comprehensive income	(2,276)		—		(2,276)
Accumulated other comprehensive income (loss) as of April 30, 2022	$	7,486	$	(2,600)	$	4,886

During the year ended July 31, 2020, a Netherlands defined benefit pension plan was amended such that active participants no longer accrued benefits as of January 1, 2020, which resulted in a pre-tax curtailment gain of $2.4 million recognized in accumulated other comprehensive income (loss). At that time, the active plan participants were moved into a new defined benefit contribution pension plan. During the nine months ended April 30, 2023, the Company recorded an increase of approximately $1.1 million to accrued pension liabilities for the defined benefit pension plan as it was determined that plan participants are entitled to unconditional indexation of benefits for as long as they remain in active service with the Company.

REVENUE RECOGNITION - Performance Obligations (Details) $ in Millions	Apr. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 2.9
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0.1
Revenue, remaining performance obligation, expected timing of satisfaction, period

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Apr. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of a normal recurring nature) considered necessary for fair presentation have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes for the year ended July 31, 2022 (Fiscal Year 2022), which are contained in the Company's Form 10-K for the Fiscal Year 2022. The results for the nine months ended April 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year. The year-end condensed consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP. All significant intercompany transactions and balances have been eliminated in consolidation. The Company considers events or transactions that occur after the balance sheet date but before the issuance of financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. For the nine months ended April 30, 2023, the Company evaluated subsequent events for potential recognition and disclosure through the date these financial statements were filed. Please refer to Note 18 - "Subsequent Events" for further details. Steel Partners and Steel Connect Exchange Transaction On May 1, 2023, the Company and Steel Partners Group transferred certain marketable securities held by the Steel Partners Group to the Company in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect (the “Series E Convertible Preferred Stock”, and, such transfer and related transactions, the “Exchange Transaction”). Following recent approval by the Steel Connect stockholders pursuant to NASDAQ Marketplace Rules, the Series E Convertible Preferred Stock is convertible into an aggregate of 184.9 million shares of Steel Connect common stock, par value $0.01 per share (the “common stock” or “Common Stock”), and will vote together with the Steel Connect common stock and participate in any dividends paid on the Steel Connect common stock, in each case on an as-converted basis. Upon conversion of the Series E Convertible Preferred Stock, the Steel Partners Group would hold approximately 85% of the outstanding equity interests of Steel Connect. Steel Partners and certain of its affiliates which currently hold more than 50.0% ownership on a fully converted basis in Steel Connect upon the signing of the agreements related to the Exchange Transaction voted in favor of the stockholder proposal relating to the Series E Convertible Preferred Stock. Refer to Note 18 - "Subsequent Events" for further details. Reclassifications On the statement of cash flows for the nine months ended April 30, 2022, the Company reclassified bad debt recovery as a non-cash adjustment to net loss which totaled $3.0 thousand from Accounts receivable, net to Bad debt recovery. This reclassification was made to prior year balances to conform with current reporting and had no impact on net loss or stockholder's deficit.

DISCONTINUED OPERATIONS - Narrative (Details)	Feb. 25, 2022 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Proceeds from divestiture of businesses	$ 0
Disposal groups, including discontinued operations, notes receivable from divestiture of business	6,900,000
Disposal group, including discontinued operation, accounts, notes and loans receivable, net	$ 0

REVENUE RECOGNITION (Tables)

9 Months Ended

Apr. 30, 2023

Revenue from Contract with Customer [Abstract]

Summary of reconciliation of the disaggregated revenue

The following table presents the Company's revenues from contracts with customers disaggregated by major good or service line and timing of revenue recognition.


	Three months ended April 30,				Nine months ended April 30,
	2023		2022		2023		2022
	(In thousands)
Major Goods/Service Lines
Supply chain management services	$	45,826	$	51,123	147,185		148,783
Other	316		425		1,098		1,440
	$	46,142	$	51,548	$	148,283	$	150,223
Timing of Revenue Recognition
Services transferred over time	$	46,142	$	51,548	148,283		150,223
	$	46,142	$	51,548	$	148,283	$	150,223

Summary of changes in deferred revenue

The table below presents information for the Company's contract balances:


	April 30, 2023		July 31, 2022
	(In thousands)
Accounts receivable, trade, net	$	36,948	$	40,083
Contract assets	685		369

Deferred revenue - current	$	2,949	$	2,705
Deferred revenue - long-term	124		134
Total deferred revenue	$	3,073	$	2,839

Remaining Performance Obligations

Remaining performance obligations are comprised of deferred revenue. Changes in deferred revenue during the nine months ended April 30, 2023 and April 30, 2022, were as follows:


	Nine Months Ended April 30,
	2023		2022
	(In thousands)
Balance at beginning of period	$	2,839	$	2,320
Deferral of revenue	1,595		2,049
Recognition of deferred amounts upon satisfaction of performance obligation	(1,361)		(1,140)
Balance at end of period	$	3,073	$	3,229

SEGMENT INFORMATION - Total Assets of Continuing Operations (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 150,940	$ 137,749
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Total assets	115,682	101,637
Corporate
Segment Reporting Information [Line Items]
Total assets	$ 35,258	$ 36,112

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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+ Details

SEGMENT INFORMATION - Summarized Financial Information of Net Revenue from External Customers by Group of Services (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	$ 46,142	$ 51,548	$ 148,283	$ 150,223
Mainland China
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	13,852	17,858	48,049	53,248
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	12,917	13,183	38,262	37,336
Czech
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	6,202	5,004	19,497	11,761
Singapore
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	4,705	4,739	14,940	14,655
Netherlands
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	4,872	6,180	15,149	18,056
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Total segment net revenue	$ 3,594	$ 4,584	$ 12,386	$ 15,167

- Definition

+ References

+ Details

DEBT - Summary of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 914	$ 848	$ 2,588	$ 2,359
Umpqua Revolver
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	11	131	36	200
Other
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	0	11	20	81
SPHG Holdings \| Interest expense related to contractual interest coupon
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	271	277	844	849
SPHG Holdings \| Interest expense related to accretion of the discount
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 632	$ 429	$ 1,688	$ 1,229

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	Mar. 09, 2023	Dec. 15, 2017	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022	May 01, 2023	Dec. 15, 2022	Jul. 31, 2022	Feb. 28, 2019
Related Party Transaction [Line Items]
Long-term debt			$ 11,543		$ 11,543				$ 10,968
Interest expense			$ 914	$ 848	$ 2,588	$ 2,359
Preferred stock, shares issued (in shares)			0		0				0
Preferred dividends			$ 519	537	$ 1,593	1,611
Purchase Agreement \| SPHG Holdings \| Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, shares issued (in shares)		35,000
Share Price		$ 1,000
Proceeds from issuance of preferred stock		$ 35,000
Preferred stock, liquidation preference, value								$ 35,200
Exchange Transaction Agreement \| Steel Partners Group \| Series E Preferred Stock \| Subsequent Event
Related Party Transaction [Line Items]
Preferred stock, shares issued (in shares)							3,500,000
Management Services Agreement \| Steel Services Ltd.
Related Party Transaction [Line Items]
Total expenses incurred related to Management Services Agreement and Transfer Agreement			600	800	1,700	2,500
Management Services Agreement \| SP Corporate Services Llc and Steel Services Limited
Related Party Transaction [Line Items]
Amount due to related parties			700		700				$ 1,000
SPHG Holdings \| Purchase Agreement \| Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Preferred dividends			500	500	1,600	1,600
SPHG Holdings \| Convertible Notes Payable
Related Party Transaction [Line Items]
Principal amount of note			13,940		13,940				14,940	$ 14,900
Repaid principal amount	$ 1,000
Additional amount required for repayment of principal	1,000
Long-term debt, cash amendment fee amount	100
Long-term debt, derecognized debt discount amount	$ 200
Long-term debt			11,586		11,586				11,047
Interest expense			900	$ 700	2,500	$ 2,100
Steel Holdings \| Convertible Notes Payable
Related Party Transaction [Line Items]
Principal amount of note			$ 13,900		$ 13,900				$ 14,900	$ 14,900
Steel Connect, Inc. \| Steel Connect, Inc. \| SPHG Holdings
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			52.60%		52.60%
Steel Partners Group \| Steel Connect, Inc. \| SPHG Holdings \| Subsequent Event
Related Party Transaction [Line Items]
Equity method investment, ownership percentage							85.00%

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Legal Proceedings On April 13, 2018, a purported shareholder, Donald Reith, filed a verified complaint, Reith v. Lichtenstein, et al., 2018-277 (Del. Ch.) in the Delaware Court of Chancery (the “Reith litigation”). The complaint alleges class and derivative claims for breach of fiduciary duty and/or aiding and abetting breach of fiduciary duty and unjust enrichment against the Board of Directors, Warren G. Lichtenstein, Glen M. Kassan, William T. Fejes, Jack L. Howard, Jeffrey J. Fenton, Philip E. Lengyel and Jeffrey S. Wald; and stockholders Steel Partners, Steel Partners, Ltd., SPHG Holdings, Handy & Harman Ltd. and WHX CS Corp. (collectively, the "Steel Parties") in connection with the acquisition of $35.0 million of the Series C Convertible Preferred Stock by SPHG Holdings and equity grants made to Messrs. Lichtenstein, Howard and Fejes on December 15, 2017 (collectively, the "Challenged Transactions"). The Company is named as a nominal defendant. The complaint alleges that although the Challenged Transactions were approved by a Special Committee consisting of the independent members of the Board of Directors (Messrs. Fenton, Lengyel and Wald), the Steel Parties dominated and controlled the Special Committee, who approved the Challenged Transactions in breach of their fiduciary duty. Plaintiff alleges that the Challenged Transactions unfairly diluted stockholders and therefore unjustly enriched Steel Partners, SPHG Holdings and Messrs. Lichtenstein, Howard and Fejes. The complaint also alleges that the Board of Directors made misleading disclosures in the Company's proxy statement for the 2017 Annual Meeting of Stockholders in connection with seeking approval to amend the 2010 Incentive Award Plan to authorize the issuance of additional shares to accommodate certain shares underlying the equity grants. Remedies requested include rescission of the Series C Convertible Preferred Stock and equity grants, disgorgement of any unjustly obtained property or compensation and monetary damages. On June 8, 2018, defendants moved to dismiss the complaint for failure to plead demand futility and failure to state a claim. On June 28, 2019, the Court denied most of the motion to dismiss allowing the matter to proceed. The defendants answered the complaint on September 6, 2019, denying all liability. On August 13, 2021, the Company, together with certain of its current and former directors of the Board, Warren Lichtenstein, Glen Kassan, William Fejes, Jr., Jack Howard, Jeffrey Fenton and Jeffrey Wald, as well as other named defendants (collectively, the “Defendants”), entered into a memorandum of understanding (the “MOU”) with Donald Reith (the “Plaintiff”) in connection with the settlement of the Reith v. Lichtenstein, et al., C.A. No. 2018-0277-MTZ (Del. Ch. 2018) class and derivative action. A definitive Stipulation of Settlement (the “Stipulation”) incorporating the terms of the MOU was filed with the Court on February 18, 2022. Pursuant to the MOU and Stipulation, and contingent on approval of the terms by the court, the Defendants agreed to cause their directors’ and officers’ liability insurance carriers to pay to the Company $2.75 million in cash. Additionally, under the MOU and separate letter agreements between the Company and such individuals (the “Surrender Agreements”), Messrs. Lichtenstein, Howard and Fejes agreed to surrender to the Company an aggregate 3.3 million shares that they had initially received in December 2017 in consideration for services to the Company. The surrenders and cancellations are in the following amounts: for Mr. Lichtenstein, 1,833,333 vested shares and 300,000 unvested shares; for Mr. Howard, 916,667 vested shares and 150,000 unvested shares; and for Mr. Fejes, 100,000 vested shares. On August 17, 2021, Mr. Lichtenstein and Mr. Howard surrendered the shares required under the MOU, the Stipulation and their respective Surrender Agreements, and in December 2021 Mr. Fejes did the same. All such shares were subsequently cancelled. Pursuant to the MOU and Stipulation, the Company also agreed to pay the Plaintiff’s counsel legal fees for this matter in an amount up to $2.05 million, if approved by the court. After the parties filed papers in support of court approval of the settlement, and an objector filed papers in opposition to approval of the settlement, and after hearings held on August 12 and August 18, 2022, the parties submitted an amendment to the Stipulation: (i) increasing the proposed total contribution of the insurers to $3.0 million, (ii) reducing Plaintiff’s counsel’s fee request to $1.6 million, and (iii) providing that if the then pending proposed Merger was consummated, the $3 million, minus fees awarded to Plaintiff’s counsel and costs of distribution of up to $125,000, would be distributed to the holders of eligible shares of Common Stock (as defined in the Merger Agreement governing the Merger), other than the Defendants; provided, however, that no distribution would be required to be made to any holder whose proportionate share of the distribution would be less than $1.00. On September 23, 2022, the court ruled that it was denying approval of the settlement. At the court’s instruction, the parties provided a status report on October 24, 2022, reporting that the vote on the proposed Merger had been postponed to October 28, 2022, and proposing to file a revised status report on November 23, 2022. The parties filed the status report on November 23, 2022, reporting that due to the termination of the proposed Merger on November 15, 2022, the parties were conferring on the next steps, and therefore proposed providing another status report within 30 days, or on other such date as the court may order. On November 28, 2022, the court issued a minute order advising that no further status updates were required to be filed in the matter and noting that the court would remain available to hear requests for relief as needed. No trial date or pretrial deadlines are currently scheduled. The possible recovery, if any, with respect to this dispute cannot be determined as of the date of this Quarterly Report on Form 10-Q.

SEGMENT INFORMATION - Summarized Financial Information of Capital Expenditures, Depreciation, and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting Information [Line Items]
Capital expenditures			$ 1,311	$ 1,142
Depreciation expense			1,427	1,698
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Capital expenditures	$ 445	$ 316	1,311	1,142
Depreciation expense	$ 503	$ 523	$ 1,427	$ 1,698

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Jul. 31, 2021		63,099,496
Beginning balance at Jul. 31, 2021	$ 6,212	$ 632	$ 7,478,638	$ (7,480,220)	$ 7,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(12,271)			(12,271)
Preferred dividends	(1,611)			(1,611)
Issuance of common stock pursuant to employee stock purchase plan (in shares)		499
Restricted stock grants (in shares)		348,789
Restricted stock grants	0	$ 3	(3)
Restricted stock forfeitures (in shares)		(3,050,000)
Restricted stock forfeitures	0	$ (31)	31
Share-based compensation	519		519
Other comprehensive items	(2,276)				(2,276)
Ending balance (in shares) at Apr. 30, 2022		60,398,784
Ending balance at Apr. 30, 2022	(9,427)	$ 604	7,479,185	(7,494,102)	4,886
Beginning balance (in shares) at Jan. 31, 2022		60,457,720
Beginning balance at Jan. 31, 2022	(36,740)	$ 605	7,479,073	(7,523,765)	7,347
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	30,200			30,200
Preferred dividends	(537)			(537)
Restricted stock grants (in shares)		141,064
Restricted stock grants	0	$ 1	(1)
Restricted stock forfeitures (in shares)		(200,000)
Restricted stock forfeitures	0	$ (2)	2
Share-based compensation	111		111
Other comprehensive items	(2,461)				(2,461)
Ending balance (in shares) at Apr. 30, 2022		60,398,784
Ending balance at Apr. 30, 2022	$ (9,427)	$ 604	7,479,185	(7,494,102)	4,886
Beginning balance (in shares) at Jul. 31, 2022	60,529,558	60,529,558
Beginning balance at Jul. 31, 2022	$ (9,206)	$ 605	7,479,366	(7,493,317)	4,140
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	7,460			7,460
Preferred dividends	(1,593)			(1,593)
Restricted stock grants (in shares)		412,902
Restricted stock grants	0	$ 4	(4)
Share-based compensation	529		529
Other comprehensive items	$ (79)				(79)
Ending balance (in shares) at Apr. 30, 2023	60,942,460	60,942,460
Ending balance at Apr. 30, 2023	$ (2,889)	$ 609	7,479,891	(7,487,450)	4,061
Beginning balance (in shares) at Jan. 31, 2023		60,784,589
Beginning balance at Jan. 31, 2023	(4,754)	$ 607	7,479,719	(7,489,960)	4,880
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,029			3,029
Preferred dividends	(519)			(519)
Restricted stock grants (in shares)		157,871
Restricted stock grants	0	$ 2	(2)
Share-based compensation	174		174
Other comprehensive items	$ (819)				(819)
Ending balance (in shares) at Apr. 30, 2023	60,942,460	60,942,460
Ending balance at Apr. 30, 2023	$ (2,889)	$ 609	$ 7,479,891	$ (7,487,450)	$ 4,061

REVENUE RECOGNITION - Contract Balance (Detail) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022	Apr. 30, 2022	Jul. 31, 2021
Disaggregation of Revenue [Line Items]
Contract assets	$ 685	$ 369
Deferred revenue - current	2,949	2,705
Deferred revenue - long-term	124	134
Total deferred revenue	3,073	2,839	$ 3,229	$ 2,320
Accounts receivable, trade, net
Disaggregation of Revenue [Line Items]
Accounts receivable, trade, net	$ 36,948	$ 40,083

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Narrative (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jul. 31, 2022
Payables and Accruals [Abstract]
Accrued pricing liabilities	$ 9,435	$ 9,435

DEBT - Component of Debt and Reconciliation (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jan. 31, 2023	Jul. 31, 2022	Feb. 28, 2019
Line of Credit Facility [Line Items]
Less: unamortized discounts and issuance costs	$ (2,397)		$ (3,972)
Total debt, net	11,543		10,968
Debt issuance costs, net		$ 43	79
Convertible Notes Payable
Line of Credit Facility [Line Items]
Principal amount of long term debt	13,940		14,940
Convertible Notes Payable \| SPHG Holdings
Line of Credit Facility [Line Items]
Total debt, net	11,586		11,047
Debt instrument, stated interest rate				7.50%
Umpqua Revolver
Line of Credit Facility [Line Items]
Revolving credit facility	$ 0		$ 0

LEASES (Tables)

9 Months Ended

Apr. 30, 2023

Leases [Abstract]

Lease cost

The table below presents the components of the Company's net lease expense:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands)
Operating lease cost	$	2,636	$	2,596	$	7,538	$	7,569
Short-term lease expense	394		482		1,269		1,221
Variable lease cost	—		4		7		20

Interest on finance lease liabilities	—		1		—		2
Sublease income	(222)		(270)		(786)		(483)
	$	2,808	$	2,813	$	8,028	$	8,329

Supplemental cash flow information related to the Company's leases was as follows:


	Nine Months Ended April 30,
	2023		2022
	(In thousands)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	7,224	$	7,450
Operating cash flows from finance leases	$	—	$	2
Financing cash flows from finance leases	$	38	$	54

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 7,460,000	$ (12,271,000)
Less: Loss from discontinued operations, net of tax	0	108,000
Net income (loss) from continuing operations	7,460,000	(12,163,000)
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Depreciation	1,427,000	1,698,000
Amortization of deferred financing costs	36,000	102,000
Accretion of debt discount	1,510,000	1,229,000
Share-based compensation	529,000	519,000
Non-cash lease expense	6,760,000	7,083,000
Bad debt expense (recovery)	1,136,000	(3,000)
Other losses, net	(3,962,000)	(1,605,000)
Changes in operating assets and liabilities:
Accounts receivable, net	2,933,000	(8,783,000)
Inventories, net	1,440,000	(1,291,000)
Prepaid expenses and other current assets	(1,237,000)	240,000
Accounts payable, accrued restructuring and accrued expenses	(3,886,000)	2,076,000
Refundable and accrued income taxes, net	(829,000)	142,000
Other assets and liabilities	(4,317,000)	5,489,000
Net cash provided by (used in) operating activities	9,000,000	(5,267,000)
Cash flows from investing activities:
Additions of property and equipment	(1,311,000)	(1,142,000)
Proceeds from the disposition of property and equipment	166,000	0
Proceeds from sale of securities	1,881,000	0
Net cash provided by (used in) investing activities	736,000	(1,142,000)
Cash flows from financing activities:
Series C redeemable preferred stock dividend payments	(1,593,000)	(1,598,000)
Repayments on capital lease obligations	(38,000)	(54,000)
Repayments on convertible debt	(1,149,000)	0
Net cash used in financing activities	(2,780,000)	(1,652,000)
Net effect of exchange rate changes on cash, cash equivalents and restricted cash	895,000	(774,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	7,851,000	(8,835,000)
Cash, cash equivalents and restricted cash, beginning of period	58,045,000	66,329,000
Cash, cash equivalents and restricted cash, end of period	65,896,000	57,494,000
Cash and cash equivalents, end of period	62,738,000	49,914,000
Restricted cash for funds held for clients, end of period	3,158,000	7,580,000
Cash, cash equivalents and restricted cash, end of period	65,896,000	57,494,000
Cash flows from discontinued operations:
Operating activities	0	(6,738,000)
Investing activities	0	625,000
Financing activities	0	4,230,000
Net cash used in discontinued operations	$ 0	$ (1,883,000)

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Apr. 30, 2023
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Issued and Not Yet Implemented In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Loses on Financial Instruments, an ASU that requires measurement and recognition of expected credit losses for financial instruments, including trade receivables, based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The ASU will be effective for the Company beginning in the first quarter of the fiscal year ending July 31, 2024 on a modified retrospective basis, which requires a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Early adoption is permitted. The Company is evaluating the potential impact of this guidance, but does not expect the new standard to have a material impact on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40). The amendment in this update simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. This update also amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions and requires the application of the if-converted method for calculating diluted earnings per share. The update also requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity's financial statements and information about events, conditions and circumstances that can affect the assessment of the amount or timing of an entity's future cash flows related to those instruments. The guidance is effective for interim and annual periods beginning in our fiscal year ending July 31, 2025, with early adoption permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. The ASU requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This guidance is effective for all entities for annual periods beginning after December 15, 2021 and early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. Other new pronouncements issued but not effective until after April 30, 2023 are not expected to have a material impact on our financial condition, results of operations or liquidity.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
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-Section 65
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-Paragraph 1
-Subparagraph (b)(4)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (g)(2)(iv)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

RESTRUCTURING (Tables)

9 Months Ended

Apr. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of restructuring and related costs

The table below summarizes restructuring charges in the statements of operations for employee termination costs:


	Three months ended April 30,				Nine months ended April 30,
	2023		2022		2023		2022
	(In thousands)
Cost of revenue	$	97	$	(16)	$	97	$	664
Selling, general and administrative	—		134		—		310
	$	97	$	118	$	97	$	974

Changes to the restructuring liability during the nine months ended April 30, 2023 were as follows:


	(in thousands)
Balance as of July 31, 2022	$	892
Costs incurred	97
Cash payments	(733)
Non-cash relief of accrual	—
Change in estimates	—
Balance as of April 30, 2023	$	256

DEBT - Additional Information (Details)			9 Months Ended
DEBT - Additional Information (Details)	Mar. 09, 2023 USD ($)	Feb. 28, 2019 USD ($) $ / shares	Apr. 30, 2023 USD ($)	Mar. 08, 2023	Jul. 31, 2022 USD ($)	Mar. 16, 2022 USD ($)
Debt Instrument [Line Items]
Long-term debt			$ 11,543,000		$ 10,968,000
Debt instrument, interest rate, effective percentage	23.00%			27.80%
Umpqua Revolver
Debt Instrument [Line Items]
Line of credit facility, maximum credit commitment			12,500,000			$ 12,500,000
Line of credit facility, sublimit borrowing capacity			5,000,000			5,000,000
Revolving credit facility			600,000
MidCap Credit Facility
Debt Instrument [Line Items]
Line of credit facility, termination amount						$ 12,500,000
Credit facility, readily available borrowing capacity			11,900,000
SPHG Holdings
Debt Instrument [Line Items]
Conversion to common stock		$ 1,000
Conversion ratio (shares)		0.4212655
Initial conversion price (in usd per share) \| $ / shares		$ 2.37
Convertible Notes Payable \| SPHG Holdings
Debt Instrument [Line Items]
Debt instrument, stated interest rate		7.50%
Principal amount of note		$ 14,900,000	$ 13,940,000		14,940,000
Repaid principal amount	$ 1,000,000
Additional amount required for repayment of principal	1,000,000
Long-term debt, cash amendment fee amount	100,000
Long-term debt, derecognized debt discount amount	$ 200,000
Debt instrument amortization period			16 months
Long-term debt			$ 11,586,000		$ 11,047,000

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3,029	$ 30,200	$ 7,460	$ (12,271)
Other comprehensive income (loss):
Foreign currency translation adjustment	(819)	(2,461)	999	(2,276)
Pension liability adjustments, net of tax	0	0	(1,078)	0
Other comprehensive loss	(819)	(2,461)	(79)	(2,276)
Comprehensive income (loss)	$ 2,210	$ 27,739	$ 7,381	$ (14,547)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Cover Page - shares	9 Months Ended
Cover Page - shares	Apr. 30, 2023	Jun. 01, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2023
Document Transition Report	false
Entity File Number	001-35319
Entity Registrant Name	Steel Connect, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2921333
Entity Address, Address Line One	590 Madison Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	914
Local Phone Number	461-1276
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,942,460
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000914712
Current Fiscal Year End Date	--07-31
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	STCN
Security Exchange Name	NASDAQ
Series D Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Rights to Purchase Series D Junior Participating Preferred Stock
Security Exchange Name	NASDAQ
No Trading Symbol	true

REVENUE RECOGNITION

9 Months Ended

Apr. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue

The following table presents the Company's revenues from contracts with customers disaggregated by major good or service line and timing of revenue recognition.


	Three months ended April 30,				Nine months ended April 30,
	2023		2022		2023		2022
	(In thousands)
Major Goods/Service Lines
Supply chain management services	$	45,826	$	51,123	147,185		148,783
Other	316		425		1,098		1,440
	$	46,142	$	51,548	$	148,283	$	150,223
Timing of Revenue Recognition
Services transferred over time	$	46,142	$	51,548	148,283		150,223
	$	46,142	$	51,548	$	148,283	$	150,223

Supply Chain Management Services

ModusLink's revenue primarily comes from the sale of supply chain management services to its clients. Amounts billed to customers under these arrangements include revenue attributable to the services performed as well as for materials procured on the customer's behalf as part of its service to them. The majority of these arrangements consist of two distinct performance obligations (i.e., warehousing/inventory management service and a separate kitting/packaging/assembly service), revenue related to each of which is recognized over time as services are performed using an input method based on the level of efforts expended.

Other

Other revenue consists of cloud-based software subscriptions, software maintenance and support service contracts, and fees for professional services. Revenue related to these arrangements is recognized on a straight-line basis over the term of the agreement or over the term of the agreement in proportion to the costs incurred in satisfying the obligations under the contract.

Contract Balances

Timing of revenue recognition may differ from timing of invoicing to customers. The Company records contract assets and liabilities related to its contracts with customers as follows:

•Accounts receivable when revenue is recognized prior to receipt of cash payments and if the right to such amounts is unconditional and solely based on the passage of time.

•Contract asset when the Company recognizes revenue based on efforts expended but the right to such amount is conditional upon satisfaction of another performance obligation. The Company's contract assets are all short-term in nature and are included in prepaid expenses and other current assets in the condensed consolidated balance sheets.

•Deferred revenue when cash payments are received or due in advance of performance. Deferred revenue is primarily comprised of fees related to supply chain management services, cloud-based software subscriptions and software maintenance and support service contracts, which are generally billed in advance. Deferred revenue also includes other offerings for which we have been paid in advance and earn the revenue when we transfer control of the product or service. The deferred revenue balance is classified as a component of other current liabilities and other long-term liabilities on the Company's condensed consolidated balance sheets.

The table below presents information for the Company's contract balances:


	April 30, 2023		July 31, 2022
	(In thousands)
Accounts receivable, trade, net	$	36,948	$	40,083
Contract assets	685		369

Deferred revenue - current	$	2,949	$	2,705
Deferred revenue - long-term	124		134
Total deferred revenue	$	3,073	$	2,839

Remaining Performance Obligations

Remaining performance obligations are comprised of deferred revenue. Changes in deferred revenue during the nine months ended April 30, 2023 and April 30, 2022, were as follows:


	Nine Months Ended April 30,
	2023		2022
	(In thousands)
Balance at beginning of period	$	2,839	$	2,320
Deferral of revenue	1,595		2,049
Recognition of deferred amounts upon satisfaction of performance obligation	(1,361)		(1,140)
Balance at end of period	$	3,073	$	3,229

The Company expects to recognize approximately $2.9 million of the deferred revenue over the next twelve months and the remaining $0.1 million beyond that time period.

The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

NATURE OF OPERATIONS	9 Months Ended
NATURE OF OPERATIONS	Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Steel Connect, Inc. (the "Company," "Steel Connect," "STCN," "we," "us" or the "Parent"), is a holding company which operates through its wholly-owned subsidiary ModusLink Corporation ("ModusLink" or "Supply Chain"). ModusLink is a supply chain business process management company serving clients in markets such as consumer electronics, communications, computing, medical devices, software and retail. ModusLink designs and executes elements in its clients' global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. ModusLink also produces and licenses an entitlement management solution for activation, provisioning, entitlement subscription and data collection from physical goods (connected products) and digital products. Disposition of IWCO Direct On February 25, 2022 (the "Disposal Date"), the Company entered into a transaction agreement (the “Transaction Agreement”) with (a) IWCO Direct Holding Inc. (''IWCO Direct" or "Direct Marketing") and its indirect subsidiaries, (b) Cerberus Business Finance, LLC, in its capacities as collateral agent and administrative agent under a financing agreement (in such capacities, the “Agent”), dated as of December 15, 2017, between IWCO Direct, IWCO Direct’s direct and indirect subsidiaries, the Agent and the lenders party thereto (the “Lenders”) (the “Financing Agreement”), (c) the Lenders, (d) the Lenders or their respective designees listed on the signature pages to the Transaction Agreement under the caption “Participating Lender Purchasers” (the “Participating Lender Purchasers”), (e) SPH Group Holdings LLC (the “Sponsor”) and (f) Instant Web Holdings, LLC (the “Buyer”), an entity owned by the Participating Lender Purchasers. On the Effective Date (as defined in the Transaction Agreement) and pursuant to the terms of the Transaction Agreement, the Company transferred all of its interests in IWCO Direct to the Buyer as part of a negotiated restructuring of the capital structure and certain financial obligations of IWCO Direct under the Financing Agreement as contemplated by the Transaction Agreement. The results of operations of the IWCO Direct business are reported as discontinued operations for the prior year period presented. See Note 4 - "Discontinued Operations" for additional information. All references made to financial data in this Quarterly Report on Form 10-Q are to the Company's continuing operations, unless otherwise specifically noted. Liquidity and Capital Resources Historically, the Parent financed its operations and met its capital requirements primarily through funds generated from operations, the sale of its securities, borrowings from lending institutions and sales of facilities that were not fully utilized. The Parent believes it has access to adequate resources to meet its needs for normal operating costs, capital expenditures, debt obligations and working capital for at least the next twelve months. Upon a redemption request by the holder of the Series C Convertible Preferred Stock (as discussed in Note 16 - "Related Party Transactions" and in the Company's Fiscal Year 2022 Form 10-K filed), the Parent believes it is probable that it has access to adequate resources, including cash on hand and potential dividends from ModusLink, to pay the redemption price and continue its operations. As of April 30, 2023, these resources include cash and cash equivalents and ModusLink's credit agreement with Umpqua Bank (the “Umpqua Revolver”), as lender and as agent. The Umpqua Revolver provides for a maximum credit commitment of $12.5 million and a sublimit of $5.0 million for letters of credit and expires on March 31, 2025. There was no balance outstanding on the Umpqua Revolver as of April 30, 2023. See Note 9 - "Debt" for further details regarding the Umpqua Revolver. ModusLink believes that if dividends to the Parent are required, it would have access to adequate resources to meet its operating needs while remaining in compliance with the Umpqua Revolver's covenants over the next twelve months. However, there can be no assurances that ModusLink will continue to have access to its line of credit under the Umpqua Revolver if its financial performance does not satisfy the financial covenants set forth in its financing agreement, which could also result in the acceleration of its debt obligations by its lender, adversely affecting liquidity. In addition to the above, on April 30, 2023, the Company executed a series of agreements with Steel Partners Holdings L.P. (“Steel Partners”), in which Steel Partners and certain of its affiliates (the "Steel Partners Group") transferred certain marketable securities held by the Steel Partners Group to the Company in exchange for 3.5 million shares of Series E Convertible Preferred Stock of the Company (the "Series E Convertible Preferred Stock", and such transfer and related transactions, the "Transaction"). The Transaction closed on May 1, 2023. The purpose of the Transaction is to provide Steel Connect with access to approximately $203 million of new capital which will be used for working capital, complementary and strategic acquisitions, and general corporate purposes. See Note 16 - "Related Parties" and Note 18 - "Subsequent Events" for further details. As of April 30, 2023 and July 31, 2022, the Company had cash and cash equivalents of $62.7 million and $53.1 million, respectively. As of April 30, 2023, the Company had excess working capital of $34.5 million.

EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Apr. 30, 2023

Earnings Per Share [Abstract]

Schedule of reconciliation of (loss) earnings per share

The following table reconciles net earnings (loss) per share for the three and nine months ended April 30, 2023 and 2022:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
Reconciliation of net income (loss) to net income (loss) attributable to common stockholders after assumed conversions:
Net income (loss) from continuing operations	$	3,029	$	(9,695)	$	7,460	$	(12,163)
Income (loss) from discontinued operations	—		39,895		—		(108)
Net income (loss)	3,029		30,200		7,460		(12,271)
Less: Preferred dividends on redeemable preferred stock	(519)		(537)		(1,593)		(1,611)
Net income (loss) attributable to common stockholders	$	2,510	$	29,663	$	5,867	$	(13,882)

Effect of dilutive securities:

Dividends on preferred stock	519		—		1,593		—
Net income (loss) attributable to common stockholders - assuming dilution	$	3,029	$	29,663	$	7,460	$	(13,882)

Net income (loss) per common share - basic
Net income (loss) from continuing operations	$	0.04	$	(0.17)	$	0.10	$	(0.23)
Net income from discontinued operations	—		0.67		—		—
Net income (loss) attributable to common stockholders	$	0.04	$	0.50	$	0.10	$	(0.23)

Net income (loss) per common share - diluted
Net income (loss) from continuing operations	$	0.04	$	(0.17)	$	0.09	$	(0.23)
Net income from discontinued operations	—		0.67		—		—
Net income (loss) attributable to common stockholders	$	0.04	$	0.50	$	0.09	$	(0.23)

Weighted average common shares outstanding - basic	60,305		59,853		60,186		59,961
Effect of dilutive securities:
Common stock equivalents - Restricted stock and restricted stock shares	533		—		516		—

Common stock equivalents - Preferred stock	17,857		—		17,857		—
Weighted average common shares outstanding - diluted	78,695		59,853		78,559		59,961

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
Net revenue	$ 46,142	$ 51,548	$ 148,283	$ 150,223
Cost of revenue	33,218	42,303	108,031	120,672
Gross profit	12,924	9,245	40,252	29,551
Operating expenses:
Selling, general and administrative	12,619	9,214	33,463	28,899
Total operating expenses	12,619	9,214	33,463	28,899
Operating income	305	31	6,789	652
Other income (expense):
Interest income	452	3	928	9
Interest expense	(914)	(848)	(2,588)	(2,359)
Other income, net	4,037	2,151	3,961	1,605
Total other income (expense), net	3,575	1,306	2,301	(745)
Income (loss) from continuing operations before income taxes	3,880	1,337	9,090	(93)
Income tax expense	851	11,032	1,630	12,070
Net income (loss) from continuing operations	3,029	(9,695)	7,460	(12,163)
Net income (loss) from discontinued operations	0	39,895	0	(108)
Net income (loss)	3,029	30,200	7,460	(12,271)
Less: Preferred dividends on Series C redeemable preferred stock	(519)	(537)	(1,593)	(1,611)
Net income (loss) attributable to common stockholders	$ 2,510	$ 29,663	$ 5,867	$ (13,882)
Net income (loss) per common shares - basic
Continuing operations - basic (in usd per share)	$ 0.04	$ (0.17)	$ 0.10	$ (0.23)
Discontinued operations - basic (in usd per share)	0	0.67	0	0
Net income (loss) attributable to common stockholders - basic (in usd per share)	0.04	0.50	0.10	(0.23)
Net income (loss) per common shares - diluted
Continuing operations - diluted (in usd per share)	0.04	(0.17)	0.09	(0.23)
Discontinued operations - diluted (in usd per share)	0	0.67	0	0
Net income (loss) attributable to common stockholders - diluted (in usd per share)	$ 0.04	$ 0.50	$ 0.09	$ (0.23)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted-average number of common shares outstanding - basic (in shares)	60,305	59,853	60,186	59,961
Weighted-average number of common shares outstanding - diluted (in shares)	78,695	59,853	78,559	59,961

INVENTORIES, NET

9 Months Ended

Apr. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES, NET

The table below presents the components of Inventories, net:


	April 30, 2023		July 31, 2022
	(In thousands)
Raw materials	$	5,990	$	7,330
Work-in-process	143		124
Finished goods	786		697
	$	6,919	$	8,151

DEBT (Tables)

9 Months Ended

Apr. 30, 2023

Debt Disclosure [Abstract]

Components of debt and reconciliation

The components of debt and a reconciliation to the carrying amount of long-term debt is presented in the table below:


	April 30, 2023		July 31, 2022
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	13,940	$	14,940
Credit Facilities
Umpqua Revolver	—		—
Less: unamortized discounts and issuance costs(a)	(2,397)		(3,972)
Total debt, net	$	11,543	$	10,968

Net carrying value of SPG note

The following tables reflect the components of the SPHG Note:


	April 30, 2023		July 31, 2022
	(In thousands)
Carrying amount of equity component	$	8,171	$	8,200

Principal amount of note	$	13,940	$	14,940
Unamortized debt discount	(2,354)		(3,893)
Net carrying amount	$	11,586	$	11,047


	Three months ended April 30,				Nine months ended April 30,
	2023		2022		2023		2022
	(In thousands)
Interest expense related to contractual interest coupon	$	271	$	277	$	844	$	849
Interest expense related to accretion of the discount	632		429		1,688		1,229
Interest expense related to revolving credit facilities (see below)	11		131		36		200
Other	—		11		20		81
Total interest expense	$	914	$	848	$	2,588	$	2,359

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

EARNINGS (LOSS) PER SHARE

9 Months Ended

Apr. 30, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

The following table reconciles net earnings (loss) per share for the three and nine months ended April 30, 2023 and 2022:


	Three Months Ended April 30,				Nine Months Ended April 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
Reconciliation of net income (loss) to net income (loss) attributable to common stockholders after assumed conversions:
Net income (loss) from continuing operations	$	3,029	$	(9,695)	$	7,460	$	(12,163)
Income (loss) from discontinued operations	—		39,895		—		(108)
Net income (loss)	3,029		30,200		7,460		(12,271)
Less: Preferred dividends on redeemable preferred stock	(519)		(537)		(1,593)		(1,611)
Net income (loss) attributable to common stockholders	$	2,510	$	29,663	$	5,867	$	(13,882)

Effect of dilutive securities:

Dividends on preferred stock	519		—		1,593		—
Net income (loss) attributable to common stockholders - assuming dilution	$	3,029	$	29,663	$	7,460	$	(13,882)

Net income (loss) per common share - basic
Net income (loss) from continuing operations	$	0.04	$	(0.17)	$	0.10	$	(0.23)
Net income from discontinued operations	—		0.67		—		—
Net income (loss) attributable to common stockholders	$	0.04	$	0.50	$	0.10	$	(0.23)

Net income (loss) per common share - diluted
Net income (loss) from continuing operations	$	0.04	$	(0.17)	$	0.09	$	(0.23)
Net income from discontinued operations	—		0.67		—		—
Net income (loss) attributable to common stockholders	$	0.04	$	0.50	$	0.09	$	(0.23)

Weighted average common shares outstanding - basic	60,305		59,853		60,186		59,961
Effect of dilutive securities:
Common stock equivalents - Restricted stock and restricted stock shares	533		—		516		—

Common stock equivalents - Preferred stock	17,857		—		17,857		—
Weighted average common shares outstanding - diluted	78,695		59,853		78,559		59,961

Basic net (loss) income per common share is calculated using the weighted average number of common shares outstanding during the period.

Diluted net (loss) income per common share considers the impact of potentially dilutive securities except in periods in which there is a net loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted net (loss) income per common share, if any, gives effect to diluted stock options (calculated based on the treasury stock method), non-vested restricted stock shares purchased under the employee stock purchase plan and shares issuable upon debt or preferred stock conversion (calculated using an as-if converted method).

For the three months ended April 30, 2023, $0.7 million of interest expense, net of tax related to convertible debt was excluded from the numerator in the calculation of diluted net income per share as their inclusion would have been antidilutive. For the three months ended April 30, 2022, $0.7 million of interest expense, net of tax impact related to convertible debt and $0.5 million of preferred dividends were excluded from the numerator in the calculation of diluted net (loss) income per share as their inclusion would have been antidilutive.

For the three months ended April 30, 2023, 5.9 million common stock equivalent shares (including those related to convertible debt) were excluded from the denominator in the calculation of diluted net income per share as their inclusion would have been antidilutive. For the three months ended April 30, 2022, 24.6 million common stock equivalent shares (including those related to convertible debt and preferred stock) were excluded from the denominator in the calculation of diluted net (loss) income per share as their inclusion would have been antidilutive.

For the nine months ended April 30, 2023, $2.3 million of interest expense, net of tax related to convertible debt was excluded from the numerator in the calculation of diluted net income per share as their inclusion would have been antidilutive. For the nine months ended April 30, 2022, $2.1 million of interest expense, net of tax impact related to convertible debt and $1.6 million of preferred dividends were excluded from the numerator in the calculation of diluted net loss per share as their inclusion would have been antidilutive.

For the nine months ended April 30, 2023, 5.9 million common stock equivalent shares (including those related to convertible debt) were excluded from the denominator in the calculation of diluted net income per share as their inclusion would have been antidilutive. For the nine months ended April 30, 2022, 24.6 million common stock equivalent shares (including those related to convertible debt and preferred stock) were excluded from the denominator in the calculation of diluted net loss per share as their inclusion would have been antidilutive.

RESTRUCTURING

9 Months Ended

Apr. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING

RESTRUCTURINGModusLink Restructuring Activities

During the fiscal year ended July 31, 2021, ModusLink implemented a strategic plan to reorganize its sales function and the e-Business operations. The restructuring charges associated with this plan were primarily composed of employee termination costs. In November 2021, ModusLink amended its strategic plan to include reorganizing its supply chain operations and recorded a restructuring charge of approximately $0.1 million and $0.9 million during the three and nine months ended April 30, 2022. In February 2023, ModusLink reorganized its call center operations in the United States and recorded a restructuring charge of approximately $0.1 million during the three and nine months ended April 30, 2023. The restructuring charges recorded in three and nine months ended April 30, 2023 were primarily composed of employee termination costs.

The table below summarizes restructuring charges in the statements of operations for employee termination costs:


	Three months ended April 30,				Nine months ended April 30,
	2023		2022		2023		2022
	(In thousands)
Cost of revenue	$	97	$	(16)	$	97	$	664
Selling, general and administrative	—		134		—		310
	$	97	$	118	$	97	$	974

Changes to the restructuring liability during the nine months ended April 30, 2023 were as follows:


	(in thousands)
Balance as of July 31, 2022	$	892
Costs incurred	97
Cash payments	(733)
Non-cash relief of accrual	—
Change in estimates	—
Balance as of April 30, 2023	$	256

The restructuring liability is recorded as a component of accrued expenses in the condensed consolidated balance sheets.

EARNINGS (LOSS) PER SHARE - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	5.9	24.6	5.9	24.6
Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest expense excluded from computation of earnings, amount	$ 0.7	$ 0.7	$ 2.3	$ 2.1
Preferred Dividends
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest expense excluded from computation of earnings, amount		$ 0.5		$ 1.6

DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Apr. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal groups, including discontinued operations

A summary of the results of the discontinued operations is as follows:


	Three months ended April 30,		Nine months ended April 30,
	2022		2022
Net revenue	$	18,167	$	165,542
Cost of revenue	17,894		156,697
Gross profit	273		8,845
Operating expenses:
Selling, general and administrative	4,517		30,744
Amortization of intangible assets	1,218		9,303

Total operating expenses	5,735		40,047
Operating loss	(5,462)		(31,202)
Other income:
Gain upon deconsolidation of IWCO Direct	38,043		38,043
Interest expense	(1,848)		(16,111)
Total other income, net	36,195		21,932
Income (loss) from discontinued operations before income taxes	30,733		(9,270)
Income tax benefit	(9,162)		(9,162)
Net income (loss) from discontinued operations	$	39,895	$	(108)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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