0001628280-23-037522 | 10-K | XBRL Viewer

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jul. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated financial statements reflect the application of certain significant accounting policies described below.

Principles of Consolidation

The accompanying consolidated financial statements of the Company include the results of its wholly-owned and majority-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Company accounts for investments in businesses in which it owns between 20% and 50% of the voting interest using the equity method, if the Company has the ability to exercise significant influence over the investee company. All other investments in privately held businesses over which the Company does not have the ability to exercise significant influence, or for which there is not a readily determinable market value, are accounted for under the cost method of accounting.

Reverse/Forward Stock Split

At the special stockholders meeting held on June 6, 2023, the stockholders 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. The Reverse/Forward Stock Split was effective on June 21, 2023 (the “Effective Date”). The Company’s common stock began trading on a Reverse/Forward Stock Split-adjusted basis on the Nasdaq Capital Market when the market opened on June 22, 2023. The trading symbol for the Company’s common stock remains “STCN.”

No fractional shares were issued in connection with the Reverse/Forward Stock Split. Shares held by stockholders who held fewer than 3,500 of the Company’s common stock immediately prior to the Reverse Stock Split were 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 were determined, which shall be an amount equal to such number of shares of Company’s common stock held multiplied by the average of the closing sales prices of the Company’s common stock on Nasdaq for the five consecutive trading days immediately preceding the effective date of the Reverse Stock Split, and each share of Company’s 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 were converted into a new number of shares of Company’s common stock based on a ratio of 375 shares of the Company’s common stock for each share of the Company’s 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 Company Common Stock that may be held as a result of the Forward Stock Split, stockholders received 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 was an amount equal to such fractions multiplied by the average of the closing sales prices of the Company’s 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). The Company made payments of $2.3 million related to fractional shares as a result of the Reverse/Forward Stock Split, which were recorded to additional paid-in capital on the consolidated balance sheets for the fiscal year ended July 31, 2023.

The number of shares of authorized Company’s common stock did not change as a result of the Reverse/Forward Stock Split; however, the number of shares of outstanding Company’s common stock decreased as a result of the Reverse/Forward Stock Split.

Accordingly, all share and per-share amounts for the current period and prior periods have been adjusted to reflect the Reverse/Forward Stock Split.

The number of shares of Company’s common stock issuable upon the exercise of Series C Preferred Stock and the Series E Preferred Stock immediately prior to the Reverse/Forward Stock Split were proportionately decreased and the conversion price of the Series C Preferred Stock and the Series E Preferred Stock were proportionately increased, effective as of June 21, 2023, the close of business on the date of such Reverse/Forward Stock Split. Our authorized preferred stock was not affected by the reverse stock split and continues to be 3,535,000 shares of preferred stock, with a par value of $0.01 per share.

Use of Estimates

The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates including those related to: (1) revenue recognition; (2) valuation allowances for trade and other receivables; (3) the valuation of long-lived assets; (4) contingencies, including litigation reserves; (5) restructuring charges and related severance expenses; (6) income taxes; (7) pension obligations; (8) business combinations; and (9) incremental borrowing rate to determine present value of lease payments. Accounting estimates are based on historical experience and various assumptions that are considered reasonable under the circumstances. However, because these estimates inherently involve judgments and uncertainties, actual results could differ materially from those estimated.

Revenue Recognition

The Company recognizes revenue from its contracts with customers primarily from the sale of supply chain management services. Revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For ModusLink's supply chain management services arrangements, the goods and services are considered to be transferred over time as they are performed. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

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 in ModusLink's e-Business operations. 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.

Performance Obligations and Standalone Selling Price

The Company's contracts with customers may include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require certain judgment. For arrangements with multiple performance obligations, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company generally determines standalone selling prices based on the prices charged to customers and uses a range of amounts to estimate standalone selling prices when we sell each of the products and services separately and need to determine whether there is a discount that needs to be allocated based on the relative standalone selling prices of the various products and services. The Company typically has more than one range of standalone selling prices for individual products and services due to the stratification of those products and services by customers and circumstances. In these instances, the Company may use

information such as the type of customer and geographic region in determining the range of standalone selling prices.

Variable Consideration

The Company may provide credits or incentives to customers, which are accounted for as variable consideration when estimating the transaction price of the contract and amounts of revenue to recognize. The amount of variable consideration to include in the transaction price is estimated at contract inception using either the estimated value method or the most likely amount method based on the nature of the variable consideration. These estimates are updated at the end of each reporting period as additional information becomes available and revenue is recognized only to the extent that it is probable that a significant reversal of any amounts of variable consideration included in the transaction price will not occur.

Principal Versus Agent Revenue Recognition

For revenue generated from contracts with customers involving another party, the Company considers whether it maintains control of the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment and discretion in establishing price. Revenues are recognized on a gross basis if the Company is acting in the capacity of a principal and on a net basis if its acting in the capacity of an agent.

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

Accounts Receivable and Allowance for Expected Credit Losses

The Company's unsecured accounts receivable are stated at original invoice amount less an estimate made for expected credit losses based on a monthly review of all outstanding amounts. Management determines the allowance for expected credit losses by regularly evaluating individual customer receivables and considering each customer's financial condition, credit history, current economic conditions, whether any amounts are currently past due and the length of time accounts may be past due. The Company writes off accounts receivable when management deems them uncollectible and records recoveries of accounts receivable previously written off when received. When accounts receivable are considered past due, the Company generally does not charge interest on past due balances.

The allowance for expected credit losses consisted of the following:


	Successor		Predecessor
	May 1 to July 31, 2023		August 1, 2022 to April 30, 2023		July 31, 2022
	(In thousands)
Balance at beginning of period	$	1,180	$	44	$	49
Application of pushdown accounting(a)	(1,180)		—		—
Provisions charged to expense	219		1,136		—
Accounts written off	—		—
Recovered	—		—		(5)
Balance at end of period	$	219	$	1,180	$	44

(a) As part of pushdown accounting, the allowance for expected credit losses balance was eliminated to establish the new cost basis in the Company's accounts receivables as of May 1, 2023.

Foreign Currency Translation

All assets and liabilities of the Company's foreign subsidiaries, whose functional currency is the local currency, are translated to U.S. dollars at the rates in effect at the balance sheet date. All amounts in the consolidated statements of operations are translated using the average exchange rates in effect during the year. Resulting translation adjustments are reflected in the accumulated other comprehensive income (loss) component of stockholders' equity. Settlement of receivables and payables in a foreign currency that is not the functional currency result in foreign currency transaction gains and losses. Foreign currency transaction gains and losses are included in "Other gains (losses), net" in the consolidated statements of operations.

Cash, Cash Equivalents and Short-term Investments

Cash equivalents consist of highly liquid investments with an original maturity of three months or less at the time of purchase. Investments with maturities greater than three months to twelve months at the time of purchase are considered short-term investments. Cash and cash equivalents consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and bank deposits	$	90,282	$	21,386
Money market funds	31,090		31,756
	$	121,372	$	53,142

Fair Value Measurements

The Company measures certain assets and liabilities at fair value (see Note 23 - "Fair Value Measurements"). Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair values of assets and liabilities are determined based on a three-level measurement input hierarchy. Level 1 inputs are quoted prices in active markets for identical assets or liabilities as of the measurement date. Level 2 inputs are other than quoted market prices that are observable, either directly or indirectly, for an asset or liability. Level 2 inputs can include quoted prices in active markets for similar assets or liabilities, quoted prices in a market that is not active for identical assets or liabilities, or other inputs that can be corroborated by observable market data. Level 3 inputs are unobservable for the asset or liability when there is little, if any, market activity for the asset or liability. Level 3 inputs are based on the best information available and may include data developed by the Company.

Funds Held for Clients

Funds held for clients represent cash that is restricted for use solely for the purposes of satisfying the obligations to remit clients' customer funds to the Company's clients. These funds are classified as a current asset and a corresponding current liability on the Company's consolidated balance sheets.

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined by both moving averages and the first-in, first-out methods. A provision for excess or obsolete inventory is recorded based upon an analysis that considers current inventory levels, historical usage patterns and future sales expectations.

Accounting for Impairment of Long-Lived Assets

The Company tests long-lived assets or group of assets for recoverability whenever events or changes in circumstances indicate that the Company may not be able to recover the asset's carrying amount. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company evaluates recoverability generally by determining whether the undiscounted cash flows expected to result from the use and eventual disposition of that asset or group cover the carrying value at the evaluation date. If the undiscounted cash flows are not sufficient to recover the carrying value, the Company measures an impairment loss as the excess of the carrying amount of the long-lived asset or group over its fair value. Management may use third-party valuation experts to assist in its determination of fair value.

Property and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. The costs of additions and improvements are capitalized, while maintenance and repairs are charged to expense as incurred. Depreciation and amortization is computed by applying the straight-line method to the estimated useful lives of the respective assets. Changes in estimated useful lives and salvage values of the Company’s assets and the related depreciation and amortization expense are accounted for prospectively. The Company capitalizes certain computer software development costs when incurred in connection with developing or obtaining computer software for internal use. The estimated useful lives are as follows:


Category						Useful Lives

Machinery and equipment						5 years
Leasehold improvements						Shorter of the lease term or the estimated useful life of the asset
Software						5 years
Computer hardware						3 years
Other						5 years

Leases

The Company leases office space, warehouse facilities, equipment and automobiles under operating leases. These leases may also include rent escalation clauses or lease incentives in the form of construction allowances and rent reduction. In determining the lease term used in the lease right-of-use ("ROU") asset and lease liability calculations, the Company considers various factors such as market conditions and the terms of any renewal or termination options that may exist. When deemed reasonably certain, the renewal and termination options are included in the determination of the lease term and calculation of the lease ROU asset and lease liability. The Company is typically required to make fixed minimum rent payments, variable rent payments primarily based on performance, or a combination thereof, directly related to its ROU asset. The Company is also often required, by the lease, to pay for certain other costs including real estate taxes, insurance, common area maintenance fees and/or certain other costs, which may be fixed or variable, depending upon the terms of the respective lease agreement. To the extent these payments are fixed, the Company has included them in calculating the lease ROU assets and lease liabilities.

The Company calculates lease ROU assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. When discount rates implicit in leases cannot be readily determined, the Company uses its incremental borrowing rate based on information available at the commencement date in determining the present value of future payments. The determination of incremental borrowing rates involves judgment by management. The weighted average interest rate used for operating leases for the year ended July 31, 2023 and July 31, 2022 was 5.2% and 3.9%, respectively. The weighted average interest rate used for finance leases for the year ended July 31, 2022 was 3.9%. There were no finance leases as of the year ended July 31, 2023.

For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term and are not recognized on the consolidated balance sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred.

Restructuring Costs

Restructuring and other exit costs may include employee separation costs, asset impairment charges, contract exit costs and costs of facility consolidation and closure. The Company records restructuring and other exit costs at their fair value when incurred. In accordance with existing benefit arrangements, employee termination costs are accrued when the restructuring actions are probable and estimable. Employee separation costs may also include one-time termination benefits recognized as a liability at estimated fair value, at the time of communication to employees, unless future service is required beyond the minimum retention period, in which case the costs are recognized ratably over the future service period.

Income Taxes

Income taxes are accounted for using the asset and liability method whereby deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance, if based on the weight of available evidence, it is more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. This methodology is subjective and requires significant estimates and judgments in the determination of the recoverability of deferred tax assets and in the calculation of certain tax liabilities.

Income tax accounting standards prescribe: (1) a minimum recognition threshold that an income tax benefit arising from an uncertain income tax position taken, or expected to be taken, on an income tax return is required to meet before being recognized in the financial statements and (2) the measurement of the income tax benefits recognized from such positions. The Company's accounting policy is to classify uncertain income tax positions that are not expected to be resolved in one year as non-current income tax liabilities and to classify potential interest and penalties on uncertain income tax positions as elements of the provision for income taxes in its financial statements. See Note 18 - "Income Taxes," for additional information.

Pension Plans

The Company sponsors defined benefit pension plans covering certain of its employees in the Netherlands and Japan. In accordance with accounting standards for employee pension benefits, the Company recognizes on a plan-by-plan basis the unfunded status of its pension plans in the consolidated financial statements and measures its pension plan assets and benefit obligations as of July 31. The obligation for the Company's pension plans and the related annual costs of employee benefits are calculated based on several long-term assumptions, including discount rates and expected mortality for employee benefit liabilities, rates of return on plan assets and expected annual rates for salary increases for employee participants.

Share-Based Compensation Plans

All share-based payment awards to employees and directors are measured based upon their grant date fair values and expensed over the period during which the employee or director is required to provide service in exchange for the award (the vesting period). The Company accounts for forfeitures in the period in which they occur.

Acquisition Accounting

The Exchange Transaction with Steel Holdings was accounted for as a business combination under the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”) with Steel Holdings being the accounting acquirer. The Company elected to apply pushdown accounting. As required by ASC 805, assets acquired and liabilities assumed in a business combination are recorded at their respective fair values as of the business combination date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Significant judgement is required in determining the acquisition date fair value of the assets acquired and liabilities assumed predominantly with respect to debt and intangible assets. We use available information to make these fair value determinations and, when necessary, engage an independent valuation specialist to assist in the fair value determination of the acquired long-lived assets. Significant judgment may be used to determine these fair values, including the use of appraisals, discounted cash flow models, market value for similar purchases or other methods applicable to the circumstances. The assumptions and judgments made by the Company when recording business combinations will have an impact on reported results of operations in the future. During the measurement period, which is not to exceed one year from the acquisition date,

the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.

Earnings per Common Share

The Company calculates earnings (loss) per common share using the two-class method required for participating securities. Accordingly, the Company's Series E Convertible Preferred Stock, which the holders of are entitled to participate equally and ratably with the holders of shares of Common Stock in all dividends or other distributions on the shares of Common Stock, are included as participating securities in the calculation of earnings (loss) per common share ("EPS") pursuant to the two-class method.

The two-class method provides for an allocation of net income (loss) between common stock and other participating securities based on their respective participation rights to share in dividends. Basic EPS is calculated by dividing net income available to common stockholders for the period by the weighted-average number of common shares outstanding during the period. Net income available to common stockholders for the period includes dividends paid to common stockholders during the period plus a proportionate share of undistributed net income allocable to common stockholders for the period; the proportionate share of undistributed net income allocable to common stockholders for the period is based on the proportionate share of total weighted-average common shares and participating securities outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock outstanding during each period, plus potential common shares considered outstanding during the period, as long as the inclusion of such awards is not antidilutive. Potential common shares consist of restricted common stock (calculated based on the treasury stock method) and shares issuable upon debt or preferred stock conversion (calculated using an as-if converted method), using the more dilutive of either the two-class method or as-converted stock method.

Major Clients and Concentration of Credit Risk

For the fiscal years ended July 31, 2023 and 2022, the Company's 10 largest clients accounted for approximately 83% and 78% of consolidated net revenue from continuing operations, respectively. Two customers accounted for approximately 41% and 13% of the Company's consolidated net revenue from continuing operations for the fiscal year ended July 31, 2023, and two customers accounted for 31% and 12% of the Company's consolidated net revenue from continuing operations for the fiscal year ended July 31, 2022. No other customers accounted for greater than 10% of consolidated net revenue in these periods. Four clients, associated with the Supply Chain segment, accounted for greater than 10% of the Company's consolidated net accounts receivables as of July 31, 2023. The first, second, third, and fourth client accounted for approximately 28%, 14%, 12%, and 10%, respectively, of the Company's consolidated net accounts receivable balance as of July 31, 2023. Three clients, associated with the Supply Chain segment, accounted for greater than 10% of the Company's consolidated net accounts receivables as of July 31, 2022. The first, second, and third client accounted for approximately 31%, 18%, and 17%, respectively, of the Company's consolidated net accounts receivable balance as of July 31, 2022.

Financial instruments which potentially subject the Company to concentrations of credit risk are cash, cash equivalents and accounts receivable. The Company's cash equivalent portfolio is diversified and consists primarily of short-term investment grade securities placed with high credit quality financial institutions. Cash and cash equivalents are maintained at accredited financial institutions, and the balances associated with funds held for clients are at times without and in excess of federally insured limits. The Company has never experienced any losses related to these balances and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with financial institutions.

Adoption of New Accounting Standards

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. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. As a result of the Exchange Transaction, the Company elected to early adopt ASU 2016-13 as of the date of the Exchange Transaction, or May 1, 2023, in order to conform with Steel Holdings' accounting policies. The adoption did not have a material effect on the Company’s consolidated financial statements. The Company did not identify any other accounting standards that would require early adoption in order to conform to Steel Holdings' accounting policies.

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 new guidance was effective for the Company's fiscal year ended July 31, 2023 (Fiscal Year 2023). The adoption of this new guidance did not have any impact on the Company's consolidated financial statements and disclosures.

Accounting Standards Issued and Not Yet Implemented

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 how to assess 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.

Other new pronouncements issued but not effective until after July 31, 2023 are not expected to have a material impact on our financial condition, results of operations or liquidity.

Subsequent Events

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 fiscal year ended July 31, 2023, the Company evaluated subsequent events for potential recognition and disclosure through the date these financial statements were filed.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Jun. 06, 2023 shares	Jul. 31, 2023 USD ($) $ / shares shares	Jul. 31, 2023 $ / shares shares	Jul. 31, 2022 $ / shares shares	Jun. 21, 2023 $ / shares shares
Significant Of Accounting Policies [Line Items]
Stock issued during period, value, reverse stock splits \| $		$ (2,288)
Preferred stock, shares authorized (in shares) \| shares		4,965,000	4,965,000	4,965,000	3,535,000
Preferred stock, par value (in usd per share) \| $ / shares		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Highly liquid investment period to be considered cash equivalent			3 months
Operating leases		5.20%	5.20%	3.90%
Finance leases				3.90%
Common Stock
Significant Of Accounting Policies [Line Items]
Reverse stock split, conversion ratio	0.00029
Stockholders' equity note, forward stock split, conversion ratio	375
Stockholders' equity note, reverse stock split, shares owned threshold \| shares	3,500
Additional Paid-in Capital
Significant Of Accounting Policies [Line Items]
Stock issued during period, value, reverse stock splits \| $		$ (2,288)
Ten Largest Clients \| Sales Revenue, Net \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			83.00%	78.00%
Minimum
Significant Of Accounting Policies [Line Items]
Highly liquid investment period to be considered short term investments			3 months
Maximum
Significant Of Accounting Policies [Line Items]
Highly liquid investment period to be considered short term investments			12 months
Supply Chain \| Net Accounts Receivable \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			10.00%	10.00%
Supply Chain \| One Customer \| Sales Revenue, Net \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			41.00%	31.00%
Supply Chain \| Two Customer \| Sales Revenue, Net \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			13.00%	12.00%
Supply Chain \| Client One \| Net Accounts Receivable \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			28.00%	31.00%
Supply Chain \| Client Two \| Net Accounts Receivable \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			14.00%	18.00%
Supply Chain \| Client Three \| Net Accounts Receivable \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			12.00%	17.00%
Supply Chain \| Client Four \| Net Accounts Receivable \| Customer Concentration Risk
Significant Of Accounting Policies [Line Items]
Concentration risk percentage			10.00%

REVENUE RECOGNITION (Tables)

12 Months Ended

Jul. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Reconciliation of the Disaggregated Revenue

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


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Service Lines
Supply chain management services	$	40,467	$	147,185	$	201,344
Other	337		1,098		1,928
	$	40,804	$	148,283	$	203,272
Timing of Revenue Recognition
Services transferred over time	$	40,804	$	148,283	$	203,272
	$	40,804	$	148,283	$	203,272

Summary of Changes in Deferred Revenue

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


	Successor		Predecessor
	July 31, 2023		July 31, 2022		August 1, 2021
	(In thousands)
Accounts receivable, trade, net	$	28,616	$	40,083	$	36,547
Contract assets	439		369		627

Deferred revenue - current	$	2,574	$	2,705	$	2,212
Deferred revenue - long-term	144		134		108
Total deferred revenue	$	2,718	$	2,839	$	2,320

Remaining Performance Obligations

Remaining performance obligations are comprised of deferred revenue. Changes in deferred revenue during the fiscal years ended July 31, 2023 and 2022 were as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Balance at beginning of period	$	3,073	$	2,839	$	2,320
Deferral of revenue	245		1,595		2,368
Recognition of deferred amounts upon satisfaction of performance obligation	(600)		(1,361)		(1,849)
Balance at end of period	$	2,718	$	3,073	$	2,839

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Jul. 31, 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:


	Fiscal Year Ended July 31,
	2022
Net revenue	$	165,542
Cost of revenue	156,697
Gross profit	8,845
Operating expenses:
Selling, general and administrative	30,744
Amortization of intangible assets(a)	9,303

Total operating expenses	40,047
Operating loss	(31,202)
Other income (expense):
Gain upon deconsolidation of IWCO Direct	35,457

Interest expense	(16,111)
Total other income (expense), net	19,346
Loss from discontinued operations before income taxes	(11,856)
Income tax benefit	10,144
Loss from discontinued operations, net of tax	$	(1,712)

(a) During the fiscal year ended July 31, 2022, the Company recorded $9.3 million of amortization expense for the former Direct Marketing reporting unit.

- 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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+ Details

DISCONTINUED OPERATIONS

12 Months Ended

Jul. 31, 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 all periods presented.

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


	Fiscal Year Ended July 31,
	2022
Net revenue	$	165,542
Cost of revenue	156,697
Gross profit	8,845
Operating expenses:
Selling, general and administrative	30,744
Amortization of intangible assets(a)	9,303

Total operating expenses	40,047
Operating loss	(31,202)
Other income (expense):
Gain upon deconsolidation of IWCO Direct	35,457

Interest expense	(16,111)
Total other income (expense), net	19,346
Loss from discontinued operations before income taxes	(11,856)
Income tax benefit	10,144
Loss from discontinued operations, net of tax	$	(1,712)

(a) During the fiscal year ended July 31, 2022, the Company recorded $9.3 million of amortization expense for the former Direct Marketing reporting unit.

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Jul. 31, 2023

Schedule Of Management Service Agreement Expense

Total expenses incurred related to the management services agreement for the Successor and Predecessor periods are below and are recorded within the consolidated statements of operations to Selling, general and administrative expense:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Management services agreement expenses	$	617	$	1,736	$	3,008

DEFINED BENEFIT PENSION PLANS - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Retirement Benefits [Abstract]
Service cost	$ 10	$ 11
Interest costs	679	462
Expected return on plan assets	(574)	(407)
Amortization of net actuarial loss	9	4
Net periodic pension costs	$ 124	$ 70
Defined benefit plan, net periodic benefit cost (credit), interest cost, statement of income or comprehensive income	Selling, general and administrative	Selling, general and administrative
Defined benefit plan, net periodic benefit cost (credit) excluding service cost, statement of income or comprehensive income	Selling, general and administrative	Selling, general and administrative
Defined benefit plan, net periodic benefit (cost) credit, amortization of gain (loss), statement of income or comprehensive income	Selling, general and administrative	Selling, general and administrative

NATURE OF OPERATIONS	12 Months Ended
NATURE OF OPERATIONS	Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Steel Connect, Inc., (the "Company" or "Steel Connect"), 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. The Company also produces and licenses an entitlement management solution for activation, provisioning, entitlement subscription and data collection from physical goods (connected products) and digital products. Steel Partners and Steel Connect Exchange Transaction On April 30, 2023, Steel Partners Holdings L.P., (“Steel Holdings”) and the Company executed a series of agreements in which Steel Holdings and certain of its affiliates (the “Steel Partners Group”) agreed to transfer 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 “Exchange Transaction”). Following approval on June 6, 2023 by the Company's stockholders, pursuant to NASDAQ Marketplace Rules, the Series E Convertible Preferred Stock is convertible into an aggregate of 19.8 million shares of the Company's common stock, par value $0.01 per share (the “common stock” or “Common Stock”), and will vote together with the Company's common stock and participate in any dividends paid on the Company's 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 84.0% of the outstanding equity interests of the Company. The Exchange Transaction closed on May 1, 2023, which is the date that the consideration was exchanged between Steel Holdings and the Company. Predecessor/Successor Reporting On May 1, 2023, the Exchange Transaction resulted in Steel Holdings obtaining control of the Company for financial statement consolidation purposes. Steel Holdings does not consolidate the Company for Federal income tax purposes because the ownership in the Company is dispersed between different federal tax consolidation groups within Steel Holdings. The Company elected pushdown accounting in which it uses Steel Holdings' basis of accounting, which reflects the fair market value of the Company’s assets and liabilities at the date of the Exchange Transaction. As a result, the Company has reflected the required pushdown accounting adjustments in its consolidated financial statements. Due to the application of pushdown accounting, the Company’s consolidated financial statements and certain footnote disclosures include a black line division between the two distinct periods to indicate the application of two different bases of accounting, which may not be comparable, between the periods presented. The pre- exchange period through April 30, 2023 is referred to as the "Predecessor" period. The post-exchange period, May 1, 2023 through July 31, 2023, includes the impact of pushdown accounting and is referred to as the "Successor" period. See Note 3 - "Exchange Transaction" for further information regarding the Exchange Transaction and the application of pushdown accounting. Disposition of Interest in Aerojet Shares As a result of the Exchange Transaction, the Company recorded $202.7 million to investments, which represents the fair value of the Aerojet common stock transferred to Steel Connect. As of July 31, 2023, the Company had disposed of all its interest in Aerojet common stock. The majority of Aerojet common stock was purchased when L3 Harris closed its merger with Aerojet. As of July 31, 2023, the Company received $53.3 million in cash and had a receivable of $154.5 million for proceeds receivable, which was received in August 2023. The Company received total net proceeds of $207.8 million in exchange for all of its Aerojet shares. Disposition of IWCO Direct On February 25, 2022, 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 assets and liabilities and results of operations of the IWCO Direct business are reported as discontinued operations for all periods presented. See Note 4 - "Discontinued Operations" for additional information. All references made to financial data in this Annual Report are to the Company's continuing operations, unless otherwise specifically noted.

INVENTORIES (Tables)

12 Months Ended

Jul. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories, net consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Raw materials	$	4,805	$	7,330
Work-in-process	239		124
Finished goods	3,525		697
	$	8,569	$	8,151

DEFINED BENEFIT PENSION PLANS - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Jul. 31, 2023 USD ($) pension_plan	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($) pension_plan	Jul. 31, 2022 USD ($)	Jul. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Pre-tax curtailment gain					$ 2,400,000
Adjustment related to unconditional indexation of benefits			$ 1,077,000	$ 0
Adjustment related to offset of goodwill	$ (500,000)
Adjustment related to accumulated other comprehensive income	$ (36,200)
Cumulative gains and losses in excess of the greater of the pension benefit obligation			10.00%
Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Minimum required contributions to the plans		$ 600,000
Netherlands
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| pension_plan	2		2
Unfunded Defined Benefit Pension Plans \| Japan
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| pension_plan	1		1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 8,149	$ 7,460	$ (10,968)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(623)	999	(3,699)
Pension liability adjustments, net of tax	36	(1,078)	677
Other comprehensive (loss) income	(587)	(79)	(3,022)
Comprehensive income (loss)	$ 7,562	$ 7,381	$ (13,990)

- Definition

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

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-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

EXCHANGE TRANSACTION - Summary of Pushdown Accounting (Details) - USD ($) $ in Thousands	May 01, 2023	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Related Party Transaction [Line Items]
Goodwill		$ 22,785		$ 0
SPLP
Related Party Transaction [Line Items]
Goodwill	$ 22,785		$ 0
Measurement period adjustments, goodwill	22,785
Other intangible assets	35,500		0
Measurement period adjustments, other intangible assets	35,500
Operating lease right-of-use assets	29,250		28,900
Measurement period adjustments, operating lease, right-of-use asset	350
Prepaid and other current assets	4,957		5,000
Measurement period adjustments, prepaid and other current assets	(43)
Convertible note payable	(13,006)		(11,586)
Measurement period adjustments, convertible notes payable	(1,420)
Other current liabilities	(7,236)		(16,671)
Measurement period adjustments, other liabilities, current	9,435
Other long-term liabilities	(5,742)		$ (5,500)
Measurement period adjustments, other liabilities, noncurrent	$ (242)

SHARE-BASED PAYMENTS - Summary of Activity of Nonvested Stock (Detail) - Restricted Stock shares in Thousands	12 Months Ended
	Jul. 31, 2023 $ / shares shares
Number of Shares
Nonvested stock outstanding, beginning balance (in shares) \| shares	51
Granted (in shares) \| shares	64
Vested (in shares) \| shares	(61)
Forfeited (in shares) \| shares	0
Nonvested stock outstanding, ending balance (in shares) \| shares	54
Weighted-Average Grant Date Fair Value
Nonvested stock outstanding, beginning balance (in usd per shares) \| $ / shares	$ 13.95
Granted (in usd per shares) \| $ / shares	10.97
Vested (in usd per shares) \| $ / shares	13.32
Forfeited (in usd per shares) \| $ / shares	0
Nonvested stock outstanding, ending balance (in usd per shares) \| $ / shares	$ 10.97

SEGMENT INFORMATION (Tables)

12 Months Ended

Jul. 31, 2023

Segment Reporting [Abstract]

Summarized Financial Information of Continuing Operations by Operating Segment and Corporate-Level Activity

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


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Net revenue:
Supply Chain	$	40,804	$	148,283	$	203,272
Total segment net revenue	$	40,804	$	148,283	$	203,272
Operating income:
Supply Chain	3,328		16,488		11,318
Total segment operating income	3,328		16,488		11,318
Corporate-level activity	(1,707)		(9,699)		(10,155)
Total operating (loss) income	1,621		6,789		1,163
Total other income	6,130		2,301		969
Income before income taxes	$	7,751	$	9,090	$	2,132

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


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Capital expenditures	$	807	$	1,311	$	1,485
Depreciation expense	456		1,427		2,220

Total Assets of Continuing Operations


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Total assets:
Supply Chain	$	146,614	$	101,637
Corporate	264,567		36,112
Total assets	$	411,181	$	137,749

Summarized 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:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Mainland China	$	14,649	$	48,049	$	72,210
United States	8,800		38,262		50,426
Netherlands	5,774		15,149		24,483
Singapore	4,448		14,940		19,903
Czech	3,336		19,497		16,342
Other	3,797		12,386		19,908
Total consolidated net revenue	$	40,804	$	148,283	$	203,272

EXCHANGE TRANSACTION

12 Months Ended

Jul. 31, 2023

EXCHANGE TRANSACTION

Steel Partners and Steel Connect Exchange Transaction

On April 30, 2023, the Company and Steel Holdings executed a series of agreements, in which Steel Holdings and the Steel Partners Group transferred an aggregate of 3.6 million shares of common stock, par value $0.10 per share, of Aerojet Rocketdyne Holdings, Inc. ("Aerojet") held by the Steel Partners Group to the Company in exchange for 3.5 million shares of newly created Series E Convertible Preferred Stock of Steel Connect (the “Series E Convertible Preferred Stock” and such transfer and related transactions, the "Exchange Transaction"). Following approval by the Company's stockholders pursuant to the rules of The Nasdaq Stock Market LLC at a special meeting of stockholders held on June 6, 2023, the Series E Convertible Preferred Stock is convertible into an aggregate of 19.8 million shares of the Company's common stock, par value $0.01 per share (the “common stock” or “Common Stock”), and votes together with the Company's common stock and participates in any dividends paid on the Company's 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 84.0% of the outstanding equity interests of the Company, and the Company became a consolidated subsidiary of Steel Holdings for financial statement purposes. The Company is not consolidated by Steel Holdings for Federal income tax purposes because Steel Holdings' ownership in the Company is dispersed between different federal tax consolidation groups. The Exchange Transaction closed on May 1, 2023, the date that the consideration was exchanged between the Company and Steel Holdings. The Company's assets and liabilities have been included in Steel Holdings' consolidated balance sheet as of May 1, 2023, with a related noncontrolling interest of 16.0% of the Company's common stock. Prior to May 1, 2023, Steel Holdings held a 49.6% ownership interest in the Company and accounted for its investment in the Company in accordance with the equity method of accounting. Steel Holdings remeasured the previously held equity method investment to its fair value based upon a valuation of the Company, as of the date of the Exchange Transaction. The Exchange Transaction accomplishes Steel Holdings' objective, which is to increase ownership in the Company in order to benefit from future earnings and growth and strengthens the Company's balance sheet to permit it to do acquisitions.

The Exchange Transaction was accounted for in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, and, accordingly, the Company's results of operations were consolidated in Steel Holdings' financial statements on the date of the Exchange Transaction. Steel Holdings recorded a preliminary allocation of the Exchange Transaction to assets acquired and liabilities assumed based on their estimated fair values as of May 1, 2023. The final Exchange

Transaction allocation, which is expected to be completed by December 31, 2023, will be based on final appraisals and other analysis of fair values of acquired assets and liabilities. Steel Holdings does not expect that differences between the preliminary and final Exchange Transaction allocation will have a material impact on its results of operations or financial position. As discussed in Note 1 - "Nature of Operations, the Company elected pushdown accounting in which it uses Steel Holdings' basis of accounting, which reflects the fair market value of the Company’s assets and liabilities at the date of the Exchange Transaction.

The following table summarizes the total Exchange Transaction consideration:


(in thousands)	May 1, 2023
Fair value of Aerojet common stock	$	202,733
Fair value of Steel Holdings' previously held interests in Steel Connect and Steel Holdings' noncontrolling interest	111,816
Less: cash acquired from Steel Connect	(65,896)
Total estimated consideration, less cash acquired	$	248,653

The following represents the preliminary calculation of goodwill and fair value amounts recognized:


(in thousands)	May 1, 2023
Assets
Accounts receivable, trade	$	36,900
Inventories, net	6,900
Prepaid expenses and other current assets	4,957
Other intangible assets	35,500
Other assets	3,900
Property and equipment, net	3,400
Operating lease right-of-use assets	29,250
Investments	202,733
Estimated fair value of total assets acquired by Steel Holdings	323,540
Liabilities
Accounts payable	26,300
Accrued expenses	29,100
Current lease obligations	7,994
Other current liabilities	7,236
Long-term lease obligations	21,300
Other long-term liabilities	5,742
Estimated fair value of total liabilities assumed by Steel Holdings	97,672
Fair value of identifiable net assets	225,868
Goodwill attributable to Steel Connect	$	22,785

The following table summarizes the significant adjustments recognized by the Company as of the Exchange date for each major class of assets and liabilities as a result of pushdown accounting:


	Exchange Date Carrying Value		Adjustments	Exchange Date Fair Value
(in thousands)
Goodwill	$	—	22,785	$	22,785
Other intangible assets	$	—	35,500	$	35,500

Operating lease right-of-use assets	$	28,900	350	$	29,250
Prepaid and other current assets	$	5,000	(43)	$	4,957
Convertible note payable	$	(11,586)	(1,420)	$	(13,006)
Other current liabilities	$	(16,671)	9,435	$	(7,236)
Other long-term liabilities	$	(5,500)	(242)	$	(5,742)

As part of pushdown accounting, the Company calculated the amount of goodwill recognized based on the excess of the Exchange Transaction consideration over the fair value of net identifiable assets acquired and liabilities assumed. Goodwill is primarily attributable to expected synergies and the assembled workforce of the Company. The goodwill recognized will not be deductible for income tax purposes.

The recorded identifiable intangible assets at their estimated fair value as of the date of the Exchange Transaction. The fair value of the trade name asset was determined using the relief-from-royalty method and the fair value of the customer relationships asset was determined using the excess earnings method. These income-based approaches included assumptions such as the amount and timing of projected cash flows, growth rates, customer attrition rates, discount rates, and the assessment of the asset’s life cycle. The estimated fair value and estimated remaining useful lives of identifiable intangible assets as of the Exchange Transaction date were as follows:


(in thousands)	Useful Life (Years)	Amount
Customer relationships	7	$	25,000
Trade name	Indefinite	10,500
Estimated fair value of identifiable intangible assets		$	35,500

The Company recorded a $0.4 million favorable adjustment to operating lease right-of-use assets for the favorable leasehold interest asset identified as part of purchase accounting. The fair value of the favorable leasehold interest asset was determined by analyzing any favorable or unfavorable leasehold interest inherent in the lease contracts, and comparing the annual lease contract rent over the remaining contractual term to a market rental rate cash flow stream in applying the income approach to estimate any favorable or unfavorable leasehold interest. The difference between the contractual and market-based cash flows was then discounted to present value to estimate the fair value of the favorable leasehold interest asset.

The Company wrote off the remaining $43.4 thousand related to deferred financing costs for the Umpqua Revolver in other current assets as part of pushdown accounting.

The carrying value of the SPHG Note was increased by $1.4 million to reflect its fair value at the Exchange Date. The value of the SPHG Note was calculated using the Goldman Sachs Binomial Lattice Model.

Other current liabilities was decreased by $9.4 million related to the accrued pricing liability. The accrued pricing liability was reduced to zero to reflect its fair value at the Exchange Date. Refer to Note 9 - "Accrued Expenses and Other Current Liabilities" for further information.

Other non-current liabilities was increased by net $0.2 million. The Company booked $0.8 million deferred tax liability related to the ModusLink trade name intangible. This was partially offset by $0.5 million decrease to the non-current pension liability as a result of the fair value measurement of the Company's defined benefit plans as of the Exchange Date.

The Company recorded $202.7 million to investments, which represents the fair value of the Aerojet common stock transferred to Steel Connect as part of the Exchange Transaction. As of July 31, 2023, the Company had disposed of all its interest in Aerojet common stock. The majority of Aerojet common stock was purchased when L3 Harris closed its merger with Aerojet. The Company received total net proceeds of $207.8 million in exchange for all of its Aerojet shares, and recorded a gain of $5.1 million to Other gains, net in the Consolidated Statements of Operations in the Successor Period. See Note 16 - "Other gains, net"

for more information. As of July 31, 2023, the Company had a receivable of $154.5 million for proceeds receivable, which is recorded as a component of prepaid expenses and other current assets within the consolidated balance sheets and was received in August 2023.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Jul. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

PREPAID EXPENSES AND OTHER CURRENT ASSETSPrepaid expenses and other current assets, net consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Aerojet common stock proceeds receivable	$	154,500	$	—
Prepaid expenses	2,217		2,085
Other current assets	1,969		1,466
	$	158,686	$	3,551

As discussed in Note 3 - "Exchange Transaction", the Company recorded $202.7 million to investments, which represents the fair value of the Aerojet common stock transferred to Steel Connect as part of the Exchange Transaction. Prior to July 31, 2023, the Company disposed of all its holdings in Aerojet common stock for a total of $207.8 million. The majority of Aerojet common stock were purchased when L3 Harris closed its merger with Aerojet. As of July 31, 2023, the Company had a receivable of $154.5 million for unsettled proceeds from the disposition of the Aerojet shares. The proceeds were received in August 2023.

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) - USD ($)					12 Months Ended
	Aug. 18, 2022	Feb. 18, 2022	Aug. 13, 2021	Dec. 15, 2017	Jul. 31, 2023
Restricted Stock
Commitments and Contingencies [Line Items]
Number of shares surrendered					0
Reith v. Lichtenstein
Commitments and 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
Commitments and Contingencies [Line Items]
Number of shares surrendered			3,300,000
Reith v. Lichtenstein \| Director \| Restricted Stock \| Warren Lichtenstein
Commitments and 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
Commitments and 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
Commitments and Contingencies [Line Items]
Number of vested shares surrendered			100,000
Series C Convertible Preferred Stock \| Purchase Agreement \| SPHG Holdings
Commitments and Contingencies [Line Items]
Proceeds from issuance of preferred stock				$ 35,000,000

DISCONTINUED OPERATIONS - Schedule of Disposal Groups, Including Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss from discontinued operations	$ 0	$ 0	$ (1,712)
Amortization expense			9,300
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			165,542
Cost of revenue			156,697
Gross profit			8,845
Selling, general and administrative			30,744
Amortization of intangible assets			9,303
Total operating expenses			40,047
Operating loss			(31,202)
Gain upon deconsolidation of IWCO Direct			35,457
Interest expense			(16,111)
Total other income (expense), net			19,346
Loss from discontinued operations before income taxes			(11,856)
Income tax benefit			10,144
Net loss from discontinued operations			$ (1,712)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Current assets:
Cash and cash equivalents	$ 121,372	$ 53,142
Accounts receivable, trade, net of allowance for credit losses of $219 and $44 at July 31, 2023 and 2022, respectively	28,616	40,083
Inventories, net	8,569	8,151
Funds held for clients	2,031	4,903
Prepaid expenses and other current assets	158,686	3,551
Total current assets	319,274	109,830
Property and equipment, net	3,698	3,534
Operating lease right-of-use assets	27,098	19,655
Other intangible assets, net	34,589	0
Goodwill	22,785	0
Other assets	3,737	4,730
Total assets	411,181	137,749
Current liabilities:
Accounts payable	26,514	30,553
Accrued expenses	26,774	28,396
Funds held for clients	1,949	4,903
Current lease obligations	7,973	6,466
Other current liabilities	4,544	13,482
Total current liabilities	67,754	83,800
Convertible note payable	12,461	11,047
Long-term lease obligations	19,161	12,945
Other long-term liabilities	5,442	3,983
Total long-term liabilities	37,064	27,975
Total liabilities	104,818	111,775
Commitments and contingencies (Note 13)
Contingently redeemable preferred stock	237,739	35,180
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2023 and 2022; zero shares issued and outstanding at July 31, 2023 and 2022	0	0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 6,250,493 issued and outstanding shares at July 31, 2023; 6,485,309 issued and outstanding shares at July 31, 2022	65	65
Additional paid-in capital	61,534	7,479,906
Accumulated earnings (deficit)	7,612	(7,493,317)
Accumulated other comprehensive (loss) income	(587)	4,140
Total stockholders' equity (deficit)	68,624	(9,206)
Total liabilities, contingently redeemable preferred stock and stockholders' equity	411,181	137,749
Series C Contingently Redeemable Preferred Stock
Current liabilities:
Contingently redeemable preferred stock	35,006	35,180
Series E Contingently Redeemable Preferred Stock
Current liabilities:
Contingently redeemable preferred stock	$ 202,733	$ 0

STOCKHOLDERS' EQUITY	12 Months Ended
STOCKHOLDERS' EQUITY	Jul. 31, 2023
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Preferred Stock The Company's Board of Directors has the authority, subject to any limitations prescribed by Delaware law, to issue shares of preferred stock in one or more series and to fix and determine the designation, privileges, preferences and rights and the qualifications, limitations and restrictions of those shares, including dividend rights, conversion rights, voting rights, redemption rights, terms of sinking funds, liquidation preferences and the number of shares constituting any series or the designation of the series, without any further vote or action by stockholders. Any shares of the Company's preferred stock so issued may have priority over its common stock with respect to dividend, liquidation and other rights. The Board of Directors may authorize the issuance of preferred stock with voting rights or conversion features that could adversely affect the voting power or other rights of the holders of its common stock. Although the issuance of preferred stock could provide us with flexibility in connection with possible acquisitions and other corporate purposes, under some circumstances, it could have the effect of delaying, deferring or preventing a change of control. Series C Preferred Stock On December 15, 2017, the Company entered into a Preferred Stock Purchase Agreement (the "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, par value $0.01 per share (the "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 "Series C Convertible Preferred Stock Transaction"). The terms, rights, obligations and preferences of the Preferred Stock are set forth in a Certificate of Designations, Preferences and Rights of Series C Convertible Preferred Stock of the Company (the "Series C Certificate of Designations"), which has been filed with the Secretary of State of the State of Delaware. Under the Series C Certificate of Designations, each share of Series C Convertible Preferred Stock can be converted into shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), at an initial conversion price equal to $18.29 per share, subject to appropriate adjustments for any stock dividend, stock split, stock combination, reclassification or similar transaction. Holders of the Series C Convertible Preferred Stock will also receive dividends at 6% per annum payable, at the Company's option, in cash or Common Stock. If at any time the closing bid price of the Company's Common Stock exceeds 170% of the conversion price for at least five consecutive trading days (subject to appropriate adjustments for any stock dividend, stock split, stock combination, reclassification or similar transaction), the Company has the right to require each holder of Series C Convertible Preferred Stock to convert all, or any whole number, of shares of the Series C Convertible Preferred Stock into Common Stock. Upon the occurrence of certain triggering events such as a liquidation, dissolution or winding up of the Company, either voluntary or involuntary, or the merger or consolidation of the Company or significant subsidiary, or the sale of substantially all of the assets or capital stock of the Company or a significant subsidiary, the holders of the Series C Convertible Preferred Stock are entitled to receive, prior and in preference to any distribution of any of the assets or funds of the Company to the holders of other equity or equity equivalent securities of the Company other than the Series C Convertible Preferred Stock by reason of their ownership thereof, an amount per share in cash equal to the sum of (i) 100% of the stated value per share of Series C Convertible Preferred Stock (initially $1,000 per share) then held by them (as adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transactions with respect to the Series C Convertible Preferred Stock), plus (ii) 100% of all declared but unpaid dividends, and all accrued but unpaid dividends on each such share of Series C Convertible Preferred Stock, in each case as the date of the triggering event. On or after December 15, 2022, each holder of Series C Convertible 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). Each holder of Series C Convertible Preferred Stock has a vote equal to the number of shares of Common Stock into which its Series C Convertible Preferred Stock would be convertible as of the record date, provided that the number of shares voted is based upon a conversion price which is no less than the greater of the book or market value of the Common Stock on the closing date of the purchase of the Series C Convertible Preferred Stock. In addition, for so long as the Series C Convertible Preferred Stock remains outstanding, the Company will not, directly or indirectly, and including in each case with respect to any significant subsidiary, without the affirmative vote of the holders of a majority of the Series C Convertible Preferred Stock (i) liquidate, dissolve or wind up the Company or any significant subsidiary; (ii) consummate any transaction that would constitute or result in a Liquidation Event (as defined in the Series C Certificate of Designations); (iii) effect or consummate any Prohibited Issuance (as defined in the Series C Certificate of Designations); or (iv) create, incur, assume or suffer to exist any Indebtedness (as defined in the Series C Certificate of Designations) of any kind, other than certain existing Indebtedness of the Company and any replacement financing thereto, unless any such replacement financing is on substantially similar terms as such existing Indebtedness. The Purchase Agreement provides that the Company will use its commercially reasonable efforts to effect the piggyback registration of the Common Stock issuable on the conversion of the Series C Convertible Preferred Stock and any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing, with the SEC in the manner reasonably requested by the holder and the qualification of the securities in all states reasonably requested by the holder, in each case, in accordance with certain enumerated conditions. The Purchase Agreement also contains other representations, warranties and covenants, customary for an issuance of Series C Convertible Preferred Stock in a private placement of this nature. The Series C Convertible Preferred Stock Transaction was approved and recommended to the Board of Directors by the Special Committee of the Board of Directors consisting of independent directors not affiliated with Steel Holdings GP, which controls the power to vote and dispose of the securities held by SPHG Holdings and its affiliates. Series E Preferred Stock On May 1, 2023, the Company and Steel Holdings executed a series of agreements in which the Steel Partners Group agreed to transfer certain marketable securities held by the Steel Partners Group to Steel Connect 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 the “Transfer and Exchange Agreement”). Pursuant to the Transfer and Exchange Agreement, the Company held a special stockholders’ meeting on June 6, 2023 (the “Special Meeting”) to consider and vote upon the rights of the Series E Preferred Stock to vote and receive dividends together with the Common Stock on an as-converted basis and the issuance of the Company's common stock (the "Common Stock") upon conversion of the Series E Preferred Stock by the holders at their option, pursuant to the rules and regulations of Nasdaq (the “Nasdaq Proposal”). Following approval of the Nasdaq Proposal by the Steel Connect stockholders (the “Stockholder Approval”), the Series E Convertible Preferred Stock became convertible into an aggregate of 19.8 million shares of the Common Stock, and votes together with the Common Stock and participates in any dividends paid on the Common Stock, in each case on an as-converted basis. Refer to Note 25 - "Related Party Transactions" for more information on the Voting Agreement. The terms, rights, obligations and preferences of the Series E Convertible Preferred Stock are set forth in a Certificate of Designations, Preferences and Rights of Series E Convertible Preferred Stock of the Company (the “Series E Certificate of Designations”), which are summarized below: Any holder of the Series E Convertible Preferred Stock (“Holder”), may, at its option, convert all or any shares of Series E Convertible Preferred Stock held by such Holder into Common Stock based on a conversion price of $10.27 (the “Conversion Price”) per share, subject to appropriate adjustments for any stock dividend, stock split, stock combination, or similar transaction by delivering to the Company a conversion notice. Holders are entitled to participate equally and ratably with the holders of shares of Common Stock in all dividends or other distributions on the shares of Common Stock as if, immediately prior to each record date for payment of dividends or other distributions on the Common Stock, shares of the Series E Convertible Preferred Stock then outstanding were converted into shares of Common Stock. Dividends or other distributions payable will be payable on the same date that such dividends or other distributions are payable to holders of shares of Common Stock, and no dividends or other distributions will be payable to holders of shares of Common Stock unless dividends or such other distributions are also paid at the same time in respect of the Series E Convertible Preferred Stock. Upon the occurrence of certain triggering events such as a liquidation, dissolution or winding up of the Company, either voluntary or involuntary, any merger or consolidation in which the Company is a constituent party or a Significant Subsidiary is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation such that the stockholders of the Company prior to such merger or consolidation hold less than 50.0% of the aggregate voting securities of the Corporation following such merger or consolidation, or the sale of substantially all of the assets or capital stock of the Company or a significant subsidiary (collectively, or any of these, a “Liquidation Event(s)”), the holders of the Series E Convertible Preferred Stock are entitled to receive, prior and in preference to any distribution of any of the assets or funds of the Company to the holders of Common Stock by reason of their ownership thereof, an amount per share in cash equal to $58.1087 (as adjusted for any stock split, stock dividend, stock combination or other similar transactions with respect to the Series E Convertible Preferred Stock (“the Series E Convertible Preferred Stock Liquidation Preference”). In the event that the Series E Convertible Preferred Stock Liquidation Preference is not paid with respect to any shares of Series E Convertible Preferred Stock as required to be paid, such shares shall continue to be entitled to dividends and all such shares shall remain outstanding and entitled to all the rights and preferences provided within the Series E Certificate of Designations. The Company nor the Holder have any rights to redeem the Series E Convertible Preferred Stock. Prior to obtaining the Stockholder Approval, the Series E Convertible Preferred Stock was non-voting and did not have the right to vote on any matters presented to the stockholders of the Company. Following the date on which Stockholder Approval was obtained, which was approved by the Company's stockholders at the special stockholders' meeting held on June 6, 2023, each Holder is now entitled to vote with holders of outstanding shares of Common Stock, voting together as a single class, with respect to any and all matters presented to the stockholders of the Company for their action or consideration (whether at a meeting of stockholders of the Company, by written action of stockholders in lieu of a meeting or otherwise), except as provided by law. In any such vote, each Holder is entitled to a number of votes equal to the largest number of whole shares of Common Stock into which all shares of Series E Convertible Preferred Stock held of record by such Holder is convertible as of the record date for such vote or written consent or, if there is no specified record date, as of the date of such vote or written consent. Common Stock Each holder of the Company's common stock is entitled to: •one vote per share on all matters submitted to a vote of the stockholders, subject to the rights of any preferred stock that may be outstanding; •dividends as may be declared by the Company's Board of Directors out of funds legally available for that purpose, subject to the rights of any preferred stock that may be outstanding; and •a pro rata share in any distribution of the Company's assets after payment or providing for the payment of liabilities and the liquidation preference of any outstanding preferred stock in the event of liquidation. Holders of the Company's common stock have no cumulative voting rights, redemption rights or preemptive rights to purchase or subscribe for any shares of its common stock or other securities. All of the outstanding shares of common stock are fully paid and nonassessable. The rights, preferences and privileges of holders of its common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any existing series of preferred stock and any series of preferred stock that the Company may designate and issue in the future. There are no redemption or sinking fund provisions applicable to the Company's common stock. Reverse/Forward Stock Split At the special stockholders meeting held on June 6, 2023, the stockholders 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. The Reverse/Forward Stock Split was effective on June 21, 2023 (the “Effective Date”). The Company’s common stock began trading on a Reverse/Forward Stock Split-adjusted basis on the Nasdaq Capital Market when the market opened on June 22, 2023. The trading symbol for the Company’s common stock remains “STCN.” No fractional shares were issued in connection with the Reverse/Forward Stock Split. Shares held by stockholders who held fewer than 3,500 of the Company’s common stock immediately prior to the Reverse Stock Split were 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 were determined, which shall be an amount equal to such number of shares of Company’s common stock held multiplied by the average of the closing sales prices of the Company’s common stock on Nasdaq for the five consecutive trading days immediately preceding the effective date of the Reverse Stock Split, and each share of Company’s 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 were converted into a new number of shares of Company’s common stock based on a ratio of 375 shares of the Company’s common stock for each share of the Company’s 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 Company Common Stock that may be held as a result of the Forward Stock Split, stockholders received 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 was an amount equal to such fractions multiplied by the average of the closing sales prices of the Company’s 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). The number of shares of authorized Company’s common stock did not change as a result of the Reverse/Forward Stock Split; however, the number of shares of outstanding Company’s common stock decreased as a result of the Reverse/Forward Stock Split. Accordingly, all share and per-share amounts for the current period and prior periods have been adjusted to reflect the Reverse/Forward Stock Split. The number of shares of Company’s common stock issuable upon the exercise of Series C Preferred Stock and the Series E Preferred Stock immediately prior to the Reverse/Forward Stock Split were proportionately decreased and the conversion price of the Series C Preferred Stock and the Series E Preferred Stock were proportionately increased, effective as of June 21, 2023, the close of business on the date of such Reverse/Forward Stock Split. Our authorized preferred stock was not affected by the reverse stock split and continues to be 3,535,000 shares of preferred stock, with a par value of $0.01 per share. For details of the effects of the Exchange Transaction see Note 3, "Exchange Transaction".

- Definition

The entire disclosure for equity.

+ References

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+ Details

RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2023

RELATED PARTY TRANSACTIONS

As of July 31, 2023, SPHG Holdings and its affiliates, including Steel Holdings, HNH and SPL, beneficially owned approximately 85.9% of our outstanding capital stock, including the if-converted value of the SPHG Note and shares of Series C Convertible Preferred Stock and Series E 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 Holdings 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.

Upon closing of the Exchange Transaction on May 1, 2023, the Company became a consolidated subsidiary of Steel Holdings as described in Note 1 - "Nature of Operations" and Note 3 - "Exchange Transaction". After May 1, 2023, transactions between Steel Holdings and the Company are eliminated in consolidation by Steel Holdings.

SPHG Note Transaction

On February 28, 2019, the Company entered into that certain SPHG Note Purchase Agreement with SPHG Holdings, whereby SPHG Holdings agreed to loan the Company $14.9 million in exchange for a 7.50% Convertible Senior Note due March 1, 2024.

On March 9, 2023 (the "Amendment Date"), 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. The Company repaid $1.0 million in principal amount of the SPHG Note on the Amendment Date, and repaid an additional $1.0 million principal amount of the note on June 9, 2023. In connection with the SPHG Note Amendment, the Company also 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 on the Amendment Date in the fiscal third quarter. No other changes were made to the terms of the SPHG Note besides the items discussed.

As of July 31, 2023, SPHG Holdings held $12.9 million principal amount of the SPHG Note, compared to $14.9 million principal amount at July 31, 2022. As of July 31, 2023 and 2022, the net carrying value of the SPHG Note was $12.5 million and $11.0 million, respectively. Refer to Note 10 – “Debt” and Note 23 - "Fair Value Measurements" for further information. During the May 1 to July 31, 2023 Successor Period, the Company recognized interest expense of $0.3 million associated with the SPHG Note. During the August 1, 2022 to April 30, 2023 Predecessor Period, and the fiscal year ended July 31, 2022 Predecessor Period, the Company recognized interest expense of $2.5 million and $2.8 million, respectively, associated with the SPHG Note.

Preferred Stock Transactions

Refer to Note 22 – “Stockholders’ Equity” for information on the Series C Preferred Stock Purchase Agreement with SPHG Holdings. During each of the fiscal years ended July 31, 2023 and 2022, the Company paid dividends of $2.1 million and $2.1 million, respectively, associated with the Series C Convertible Preferred Stock.

Refer to Note 22 – “Stockholders’ Equity” for information on the Transfer and Exchange Agreement with the Steel Partners Group, where the Company exchanged 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect for certain marketable securities held by the Steel Partners Group.

Stockholders' Agreement

Concurrently with the execution of the Transfer and Exchange Agreement, the Company, Steel Holdings, 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, Steel Connect ceasing to be an SEC reporting company, or Steel Connect 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 Steel Connect and Steel Services Ltd.; and (iii) any related party transaction between Steel Connect 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 Holdings 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 Steel Connect and the SP Investors; or (ii) prior to any transfer of equity interests in Steel Connect 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 Steel Connect 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 Steel Connect, 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 Transfer and 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 Steel Connect Board, acting on the unanimous recommendation of a strategic planning committee of the Steel Connect Board consisting solely of independent and disinterested directors of Steel Connect , approved the Transaction. Refer to Note 22 – “Stockholders’ Equity” for more information on the Transfer and Exchange Agreement with the Steel Partners Group.

Management Services Agreement

On June 14, 2019, the Company entered into an agreement (the "Management Services Agreement") with Steel Services Ltd. ("Steel Services"), an indirect wholly-owned subsidiary of Steel Holdings. The Management Services Agreement was effective as of June 1, 2019. Pursuant to this agreement, SP Corporate provided the Company and its subsidiaries with the services of certain employees, including certain executive officers and other corporate services. In connection with the IWCO Direct Disposal, the monthly fee under the Management Services Agreement was reduced effective on the Disposal Date primarily for the portion of the fee attributable to IWCO Direct.


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Management services agreement expenses	$	617	$	1,736	$	3,008

As of July 31, 2023 and 2022, amounts due to Steel Services were $0.7 million and $1.0 million, respectively and are recorded within the consolidated balance sheets as a component of Accounts payable.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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-Topic 946
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+ Details

EARNINGS (LOSS) PER SHARE - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Jul. 31, 2023	Apr. 30, 2023
Earnings Per Share [Abstract]
Interest expense, debt, excluding amortization	$ 0.2	$ 2.3
Common stock equivalent shares excluded from the denominator in the calculation of diluted loss per share (in shares)	0.6	0.6

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Cash Used for Operating Activities Reflect Cash Payments for Interest and Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2023	Jul. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 9	$ 1,145	$ 1,237
Cash paid for income taxes	$ 3,008	$ 0	$ 2,364

REVENUE RECOGNITION - Disaggregated Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 40,804	$ 148,283	$ 203,272
Supply chain management services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	40,467	147,185	201,344
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	337	1,098	1,928
Services transferred over time \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 40,804	$ 148,283	$ 203,272

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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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-Subparagraph (a)
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+ Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Class of Stock [Line Items]
Prepaid expenses	$ 2,217	$ 2,085
Other current assets	1,969	1,466
Prepaid expenses and other current assets	158,686	3,551
Aerojet Share
Class of Stock [Line Items]
Aerojet common stock proceeds receivable	$ 154,500	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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

DEFINED BENEFIT PENSION PLANS - Summary of Expected Benefit Payments from Plans (Detail) $ in Thousands	Jul. 31, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 340
2025	372
2026	463
2027	444
2028	509
Thereafter	$ 3,451

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2023	Jul. 31, 2022
Cash Flow, Lessee [Abstract]
Operating cash flows from operating leases	$ 2,494		$ 7,224	$ 9,653
Operating cash flows from finance leases	0		0	3
Financing cash flows from finance leases	$ 0	$ 38	$ 38	$ 73

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated Other Comprehensive Income, Net of Income Taxes (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended	12 Months Ended
	May 01, 2023	Jul. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (2,889)	$ (2,889)	$ 63,651	$ (9,206)	$ 6,212
Foreign currency translation adjustment		(623)	(623)	999	(3,699)
Pension liability adjustments		36	36	(1,078)	677
Other comprehensive (loss) income		(587)	(587)	(79)	(3,022)
Effect of exchange transaction	66,540
Ending balance	63,651	68,624	68,624	(2,889)	(9,206)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,061	4,061	0	4,140	7,162
Other comprehensive (loss) income			(587)	(79)	(3,022)
Effect of exchange transaction	(4,061)
Ending balance	0	(587)	(587)	4,061	4,140
Foreign currency items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	7,062	7,062	0	6,063	9,762
Foreign currency translation adjustment			(623)	999	(3,699)
Pension liability adjustments			0	0	0
Other comprehensive (loss) income			(623)	999	(3,699)
Effect of exchange transaction	7,062
Ending balance	0	(623)	(623)	7,062	6,063
Pension items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,001)	(3,001)	0	(1,923)	(2,600)
Foreign currency translation adjustment			0	0	0
Pension liability adjustments			36	(1,078)	677
Other comprehensive (loss) income			36	(1,078)	677
Effect of exchange transaction	(3,001)
Ending balance	$ 0	$ 36	$ 36	$ (3,001)	$ (1,923)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Jul. 31, 2021		6,760,660
Beginning balance at Jul. 31, 2021	$ 6,212	$ 68	$ 7,479,202	$ (7,480,220)	$ 7,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(10,968)			(10,968)
Preferred dividends	(2,129)			(2,129)
Issuance of common stock pursuant to employee stock purchase plan (in shares)		53
Restricted stock grants (in shares)		51,382
Restricted stock forfeitures (in shares)		(326,786)
Restricted stock forfeitures	0	$ (3)	3
Share-based compensation	701		701
Other comprehensive items	$ (3,022)				(3,022)
Balance (in shares) at Jul. 31, 2022	6,485,309	6,485,309
Ending balance at Jul. 31, 2022	$ (9,206)	$ 65	7,479,906	(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)		44,240
Share-based compensation	529		529
Other comprehensive items	(79)				(79)
Balance (in shares) at Apr. 30, 2023		6,529,549
Ending balance at Apr. 30, 2023	$ (2,889)	$ 65	7,480,435	(7,487,450)	4,061
Balance (in shares) at Jul. 31, 2022	6,485,309	6,485,309
Beginning balance at Jul. 31, 2022	$ (9,206)	$ 65	7,479,906	(7,493,317)	4,140
Balance (in shares) at Jul. 31, 2023	6,250,493	6,250,493
Ending balance at Jul. 31, 2023	$ 68,624	$ 65	61,534	7,612	(587)
Balance (in shares) at Apr. 30, 2023		6,529,549
Beginning balance at Apr. 30, 2023	(2,889)	$ 65	7,480,435	(7,487,450)	4,061
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of exchange transaction (in shares)		0
Effect of exchange transaction	66,540	$ 0	(7,416,849)	7,487,450	(4,061)
Balance (in shares) at May. 01, 2023		6,529,549
Ending balance at May. 01, 2023	63,651	$ 65	63,586	0	0
Balance (in shares) at Apr. 30, 2023		6,529,549
Beginning balance at Apr. 30, 2023	(2,889)	$ 65	7,480,435	(7,487,450)	4,061
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8,149
Preferred dividends	(537)
Other comprehensive items	$ (587)
Balance (in shares) at Jul. 31, 2023	6,250,493	6,250,493
Ending balance at Jul. 31, 2023	$ 68,624	$ 65	61,534	7,612	(587)
Balance (in shares) at May. 01, 2023		6,529,549
Beginning balance at May. 01, 2023	63,651	$ 65	63,586	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8,149			8,149
Preferred dividends	(537)			(537)
Reverse/forward stock split settlement (in shares)		(299,069)
Reverse/forward stock split settlement	(2,288)		(2,288)
Restricted stock grants (in shares)		20,013
Share-based compensation	236		236
Other comprehensive items	$ (587)				(587)
Balance (in shares) at Jul. 31, 2023	6,250,493	6,250,493
Ending balance at Jul. 31, 2023	$ 68,624	$ 65	$ 61,534	$ 7,612	$ (587)

RESTRUCTURING ACTIVITIES - Narrative (Details) - IWCO Direct's Competitive Improvement Plan - USD ($) $ in Thousands	3 Months Ended				9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022	Jan. 31, 2022	Apr. 30, 2023	Jul. 31, 2022
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ (62)	$ 100			$ 97	$ 1,513
Change in estimates	$ (100)
Supply Chain
Restructuring Cost and Reserve [Line Items]
Costs incurred			$ 600	$ 900

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

DEBT - Summary of the Components of Debt (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022	Feb. 28, 2019
Debt Instrument [Line Items]
Less: unamortized discounts and issuance costs(a)(b)	$ 0	$ (3,972)
Total debt, net	12,461	10,968
Debt issuance costs, net		79
Umpqua Revolver
Debt Instrument [Line Items]
Long-term line of credit	0	0
7.50% Convertible Senior Note due September 1, 2024
Debt Instrument [Line Items]
Principal amount of long term debt	12,461	14,940
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Holdings
Debt Instrument [Line Items]
Total debt, net	$ 12,500	$ 11,047
Debt instrument stated percentage			7.50%

PROPERTY AND EQUIPMENT

12 Months Ended

Jul. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment at cost, consists of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Machinery and equipment	1,388		12,632
Leasehold improvements	606		9,994
Software	1,133		34,161
Computer hardware	400		5,317
Other	627		2,475
	4,154		64,579
Less: accumulated depreciation and amortization	(456)		(61,045)
Property and equipment, net	$	3,698	$	3,534

As part of pushdown accounting, the accumulated depreciation of property and equipment balances were eliminated to establish the new cost basis in the Company’s property and equipment as of May 1, 2023.

FAIR VALUE MEASUREMENTS

12 Months Ended

Jul. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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

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


	Successor		Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds	$	31,090	$	31,090	$	—	$	—

Liabilities:
SPHG Note	$	12,461	$	—	$	—	$	12,461


	Predecessor		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. Carrying value approximates fair value for these items due to their short-term maturities or expected settlement dates of these instruments.

As of July 31, 2022, the Company did not measure the fair value of the SPHG Note on a recurring basis, as the assumption was that the carrying value of the liability component of the SPHG Note approximated fair value because the stated interest rate of this debt was consistent with current market rates. In conjunction with the application of pushdown accounting, the Company will now measure the fair value of the SPHG on a recurring basis. Refer to Note 3 - "Exchange Transaction" and Note 10 - "Debt" for further details. The Company estimates the value of the SPHG Note using a Binomial Lattice Model. Key inputs in the valuation include the trading price and volatility of Steel Connect's common stock, the risk-free rate of return, as well as the dividend rate, conversion price, and maturity date. The Company recognized $0.5 million in unrealized losses in Other gains, net within the consolidated statements of operations for the Successor Period as a result of the fair value measurement performed at July 31, 2023.

Following is a summary of changes in the SPHG Note measured using Level 3 inputs:


Balance as of May 1, 2023 (Successor):	$	13,006
Principal repayment	(1,000)
Unrealized losses	455
Balance as of July 31, 2023 (Successor)	$	12,461

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

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Additional Information (Details) - USD ($) $ in Thousands	Jul. 30, 2023	Jul. 31, 2023	May 01, 2023	Jul. 31, 2022
Class of Stock [Line Items]
Common stock, disposal amount	$ 207,800
SPLP
Class of Stock [Line Items]
Investments			$ 202,733
Aerojet Share
Class of Stock [Line Items]
Aerojet common stock proceeds receivable		$ 154,500		$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jul. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements of the Company include the results of its wholly-owned and majority-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Company accounts for investments in businesses in which it owns between 20% and 50% of the voting interest using the equity method, if the Company has the ability to exercise significant influence over the investee company. All other investments in privately held businesses over which the Company does not have the ability to exercise significant influence, or for which there is not a readily determinable market value, are accounted for under the cost method of accounting.
Use of Estimates	Use of Estimates The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates including those related to: (1) revenue recognition; (2) valuation allowances for trade and other receivables; (3) the valuation of long-lived assets; (4) contingencies, including litigation reserves; (5) restructuring charges and related severance expenses; (6) income taxes; (7) pension obligations; (8) business combinations; and (9) incremental borrowing rate to determine present value of lease payments. Accounting estimates are based on historical experience and various assumptions that are considered reasonable under the circumstances. However, because these estimates inherently involve judgments and uncertainties, actual results could differ materially from those estimated.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from its contracts with customers primarily from the sale of supply chain management services. Revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For ModusLink's supply chain management services arrangements, the goods and services are considered to be transferred over time as they are performed. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. 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 in ModusLink's e-Business operations. 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. Performance Obligations and Standalone Selling Price The Company's contracts with customers may include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require certain judgment. For arrangements with multiple performance obligations, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company generally determines standalone selling prices based on the prices charged to customers and uses a range of amounts to estimate standalone selling prices when we sell each of the products and services separately and need to determine whether there is a discount that needs to be allocated based on the relative standalone selling prices of the various products and services. The Company typically has more than one range of standalone selling prices for individual products and services due to the stratification of those products and services by customers and circumstances. In these instances, the Company may use information such as the type of customer and geographic region in determining the range of standalone selling prices. Variable Consideration The Company may provide credits or incentives to customers, which are accounted for as variable consideration when estimating the transaction price of the contract and amounts of revenue to recognize. The amount of variable consideration to include in the transaction price is estimated at contract inception using either the estimated value method or the most likely amount method based on the nature of the variable consideration. These estimates are updated at the end of each reporting period as additional information becomes available and revenue is recognized only to the extent that it is probable that a significant reversal of any amounts of variable consideration included in the transaction price will not occur. Principal Versus Agent Revenue Recognition For revenue generated from contracts with customers involving another party, the Company considers whether it maintains control of the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment and discretion in establishing price. Revenues are recognized on a gross basis if the Company is acting in the capacity of a principal and on a net basis if its acting in the capacity of an agent. 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 assets when the Company recognizes revenue based on efforts expended but the right to such amount is conditional upon satisfaction of another performance obligation. Contract assets are primarily comprised of fees related to supply chain management services. The Company's contract assets are all short-term in nature and are included in prepaid expenses and other current assets in the Company's 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 consolidated balance sheets.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Expected Credit Losses The Company's unsecured accounts receivable are stated at original invoice amount less an estimate made for expected credit losses based on a monthly review of all outstanding amounts. Management determines the allowance for expected credit losses by regularly evaluating individual customer receivables and considering each customer's financial condition, credit history, current economic conditions, whether any amounts are currently past due and the length of time accounts may be past due. The Company writes off accounts receivable when management deems them uncollectible and records recoveries of accounts receivable previously written off when received. When accounts receivable are considered past due, the Company generally does not charge interest on past due balances.
Foreign Currency Translation	Foreign Currency Translation All assets and liabilities of the Company's foreign subsidiaries, whose functional currency is the local currency, are translated to U.S. dollars at the rates in effect at the balance sheet date. All amounts in the consolidated statements of operations are translated using the average exchange rates in effect during the year. Resulting translation adjustments are reflected in the accumulated other comprehensive income (loss) component of stockholders' equity. Settlement of receivables and payables in a foreign currency that is not the functional currency result in foreign currency transaction gains and losses. Foreign currency transaction gains and losses are included in "Other gains (losses), net" in the consolidated statements of operations.
Cash, Cash Equivalents and Short-term Investments	Cash, Cash Equivalents and Short-term InvestmentsCash equivalents consist of highly liquid investments with an original maturity of three months or less at the time of purchase. Investments with maturities greater than three months to twelve months at the time of purchase are considered short-term investments.
Fair Value Measurements	Fair Value Measurements The Company measures certain assets and liabilities at fair value (see Note 23 - "Fair Value Measurements"). Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair values of assets and liabilities are determined based on a three-level measurement input hierarchy. Level 1 inputs are quoted prices in active markets for identical assets or liabilities as of the measurement date. Level 2 inputs are other than quoted market prices that are observable, either directly or indirectly, for an asset or liability. Level 2 inputs can include quoted prices in active markets for similar assets or liabilities, quoted prices in a market that is not active for identical assets or liabilities, or other inputs that can be corroborated by observable market data. Level 3 inputs are unobservable for the asset or liability when there is little, if any, market activity for the asset or liability. Level 3 inputs are based on the best information available and may include data developed by the Company.
Funds Held for Clients	Funds Held for Clients Funds held for clients represent cash that is restricted for use solely for the purposes of satisfying the obligations to remit clients' customer funds to the Company's clients. These funds are classified as a current asset and a corresponding current liability on the Company's consolidated balance sheets.
Inventories	InventoriesInventories are stated at the lower of cost or net realizable value. Cost is determined by both moving averages and the first-in, first-out methods. A provision for excess or obsolete inventory is recorded based upon an analysis that considers current inventory levels, historical usage patterns and future sales expectations.
Accounting for Impairment of Long-Lived Assets	Accounting for Impairment of Long-Lived Assets The Company tests long-lived assets or group of assets for recoverability whenever events or changes in circumstances indicate that the Company may not be able to recover the asset's carrying amount. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company evaluates recoverability generally by determining whether the undiscounted cash flows expected to result from the use and eventual disposition of that asset or group cover the carrying value at the evaluation date. If the undiscounted cash flows are not sufficient to recover the carrying value, the Company measures an impairment loss as the excess of the carrying amount of the long-lived asset or group over its fair value. Management may use third-party valuation experts to assist in its determination of fair value.
Property and Equipment	Property and EquipmentProperty, plant and equipment are stated at cost, less accumulated depreciation. The costs of additions and improvements are capitalized, while maintenance and repairs are charged to expense as incurred. Depreciation and amortization is computed by applying the straight-line method to the estimated useful lives of the respective assets. Changes in estimated useful lives and salvage values of the Company’s assets and the related depreciation and amortization expense are accounted for prospectively. The Company capitalizes certain computer software development costs when incurred in connection with developing or obtaining computer software for internal use.
Leases	Leases The Company leases office space, warehouse facilities, equipment and automobiles under operating leases. These leases may also include rent escalation clauses or lease incentives in the form of construction allowances and rent reduction. In determining the lease term used in the lease right-of-use ("ROU") asset and lease liability calculations, the Company considers various factors such as market conditions and the terms of any renewal or termination options that may exist. When deemed reasonably certain, the renewal and termination options are included in the determination of the lease term and calculation of the lease ROU asset and lease liability. The Company is typically required to make fixed minimum rent payments, variable rent payments primarily based on performance, or a combination thereof, directly related to its ROU asset. The Company is also often required, by the lease, to pay for certain other costs including real estate taxes, insurance, common area maintenance fees and/or certain other costs, which may be fixed or variable, depending upon the terms of the respective lease agreement. To the extent these payments are fixed, the Company has included them in calculating the lease ROU assets and lease liabilities. The Company calculates lease ROU assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. When discount rates implicit in leases cannot be readily determined, the Company uses its incremental borrowing rate based on information available at the commencement date in determining the present value of future payments. The determination of incremental borrowing rates involves judgment by management. The weighted average interest rate used for operating leases for the year ended July 31, 2023 and July 31, 2022 was 5.2% and 3.9%, respectively. The weighted average interest rate used for finance leases for the year ended July 31, 2022 was 3.9%. There were no finance leases as of the year ended July 31, 2023. For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term and are not recognized on the consolidated balance sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred.
Restructuring Costs	Restructuring Costs Restructuring and other exit costs may include employee separation costs, asset impairment charges, contract exit costs and costs of facility consolidation and closure. The Company records restructuring and other exit costs at their fair value when incurred. In accordance with existing benefit arrangements, employee termination costs are accrued when the restructuring actions are probable and estimable. Employee separation costs may also include one-time termination benefits recognized as a liability at estimated fair value, at the time of communication to employees, unless future service is required beyond the minimum retention period, in which case the costs are recognized ratably over the future service period.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method whereby deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance, if based on the weight of available evidence, it is more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. This methodology is subjective and requires significant estimates and judgments in the determination of the recoverability of deferred tax assets and in the calculation of certain tax liabilities. Income tax accounting standards prescribe: (1) a minimum recognition threshold that an income tax benefit arising from an uncertain income tax position taken, or expected to be taken, on an income tax return is required to meet before being recognized in the financial statements and (2) the measurement of the income tax benefits recognized from such positions. The Company's accounting policy is to classify uncertain income tax positions that are not expected to be resolved in one year as non-current income tax liabilities and to classify potential interest and penalties on uncertain income tax positions as elements of the provision for income taxes in its financial statements. See Note 18 - "Income Taxes," for additional information.
Pension Plans	Pension Plans The Company sponsors defined benefit pension plans covering certain of its employees in the Netherlands and Japan. In accordance with accounting standards for employee pension benefits, the Company recognizes on a plan-by-plan basis the unfunded status of its pension plans in the consolidated financial statements and measures its pension plan assets and benefit obligations as of July 31. The obligation for the Company's pension plans and the related annual costs of employee benefits are calculated based on several long-term assumptions, including discount rates and expected mortality for employee benefit liabilities, rates of return on plan assets and expected annual rates for salary increases for employee participants.
Share-Based Compensation Plans	Share-Based Compensation Plans All share-based payment awards to employees and directors are measured based upon their grant date fair values and expensed over the period during which the employee or director is required to provide service in exchange for the award (the vesting period). The Company accounts for forfeitures in the period in which they occur.
Acquisition Accounting	Acquisition Accounting The Exchange Transaction with Steel Holdings was accounted for as a business combination under the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”) with Steel Holdings being the accounting acquirer. The Company elected to apply pushdown accounting. As required by ASC 805, assets acquired and liabilities assumed in a business combination are recorded at their respective fair values as of the business combination date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Significant judgement is required in determining the acquisition date fair value of the assets acquired and liabilities assumed predominantly with respect to debt and intangible assets. We use available information to make these fair value determinations and, when necessary, engage an independent valuation specialist to assist in the fair value determination of the acquired long-lived assets. Significant judgment may be used to determine these fair values, including the use of appraisals, discounted cash flow models, market value for similar purchases or other methods applicable to the circumstances. The assumptions and judgments made by the Company when recording business combinations will have an impact on reported results of operations in the future. During the measurement period, which is not to exceed one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.
Earnings per Common Share	Earnings per Common Share The Company calculates earnings (loss) per common share using the two-class method required for participating securities. Accordingly, the Company's Series E Convertible Preferred Stock, which the holders of are entitled to participate equally and ratably with the holders of shares of Common Stock in all dividends or other distributions on the shares of Common Stock, are included as participating securities in the calculation of earnings (loss) per common share ("EPS") pursuant to the two-class method. The two-class method provides for an allocation of net income (loss) between common stock and other participating securities based on their respective participation rights to share in dividends. Basic EPS is calculated by dividing net income available to common stockholders for the period by the weighted-average number of common shares outstanding during the period. Net income available to common stockholders for the period includes dividends paid to common stockholders during the period plus a proportionate share of undistributed net income allocable to common stockholders for the period; the proportionate share of undistributed net income allocable to common stockholders for the period is based on the proportionate share of total weighted-average common shares and participating securities outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock outstanding during each period, plus potential common shares considered outstanding during the period, as long as the inclusion of such awards is not antidilutive. Potential common shares consist of restricted common stock (calculated based on the treasury stock method) and shares issuable upon debt or preferred stock conversion (calculated using an as-if converted method), using the more dilutive of either the two-class method or as-converted stock method.
Major Clients and Concentration of Credit Risk	Major Clients and Concentration of Credit RiskFinancial instruments which potentially subject the Company to concentrations of credit risk are cash, cash equivalents and accounts receivable. The Company's cash equivalent portfolio is diversified and consists primarily of short-term investment grade securities placed with high credit quality financial institutions. Cash and cash equivalents are maintained at accredited financial institutions, and the balances associated with funds held for clients are at times without and in excess of federally insured limits. The Company has never experienced any losses related to these balances and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with financial institutions.
Adoption of New Accounting Standards and Accounting Standards Issued and Not Yet Implemented	Adoption of New Accounting Standards 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. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. As a result of the Exchange Transaction, the Company elected to early adopt ASU 2016-13 as of the date of the Exchange Transaction, or May 1, 2023, in order to conform with Steel Holdings' accounting policies. The adoption did not have a material effect on the Company’s consolidated financial statements. The Company did not identify any other accounting standards that would require early adoption in order to conform to Steel Holdings' accounting policies. 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 new guidance was effective for the Company's fiscal year ended July 31, 2023 (Fiscal Year 2023). The adoption of this new guidance did not have any impact on the Company's consolidated financial statements and disclosures. Accounting Standards Issued and Not Yet Implemented 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 how to assess 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. Other new pronouncements issued but not effective until after July 31, 2023 are not expected to have a material impact on our financial condition, results of operations or liquidity.

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Jul. 31, 2023	Oct. 16, 2023	Jan. 31, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--07-31
Document Period End Date	Jul. 31, 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 Ave.
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 80.2
Entity Common Stock, Shares Outstanding		6,267,230
Documents Incorporated by Reference	Unless earlier included in an amendment to this Annual Report on Form 10-K, portions of the registrant's definitive proxy statement to be delivered to stockholders in connection with the Company's 2023 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated.
Amendment Flag	false
Document Fiscal Year Focus	2023
Entity Central Index Key	0000914712
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
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ

RESTRUCTURING ACTIVITIES - Schedule of Restructuring Charges by Type (Details) - IWCO Direct's Competitive Improvement Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Apr. 30, 2023	Jul. 31, 2022
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ (62)	$ 100	$ 97	$ 1,513
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Costs incurred	(62)		97	1,200
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 0		$ 0	$ 313

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SEGMENT INFORMATION - Summarized Financial Information of Capital Expenditures, Depreciation, and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Capital expenditures	$ 807	$ 1,311	$ 1,485
Depreciation	456	1,427	2,220
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Capital expenditures	$ 807	1,311	1,485
Depreciation		$ 1,427	$ 2,220

REVENUE RECOGNITION

12 Months Ended

Jul. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Service Lines
Supply chain management services	$	40,467	$	147,185	$	201,344
Other	337		1,098		1,928
	$	40,804	$	148,283	$	203,272
Timing of Revenue Recognition
Services transferred over time	$	40,804	$	148,283	$	203,272
	$	40,804	$	148,283	$	203,272

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


	Successor		Predecessor
	July 31, 2023		July 31, 2022		August 1, 2021
	(In thousands)
Accounts receivable, trade, net	$	28,616	$	40,083	$	36,547
Contract assets	439		369		627

Deferred revenue - current	$	2,574	$	2,705	$	2,212
Deferred revenue - long-term	144		134		108
Total deferred revenue	$	2,718	$	2,839	$	2,320

Remaining Performance Obligations

Remaining performance obligations are comprised of deferred revenue. Changes in deferred revenue during the fiscal years ended July 31, 2023 and 2022 were as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Balance at beginning of period	$	3,073	$	2,839	$	2,320
Deferral of revenue	245		1,595		2,368
Recognition of deferred amounts upon satisfaction of performance obligation	(600)		(1,361)		(1,849)
Balance at end of period	$	2,718	$	3,073	$	2,839

The Company expects to recognize approximately $2.6 million of the deferred revenue over the next twelve months and the remaining $0.1 million beyond that time period.

- 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.

+ References

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+ Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Jul. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expense and Other Current Assets

Prepaid expenses and other current assets, net consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Aerojet common stock proceeds receivable	$	154,500	$	—
Prepaid expenses	2,217		2,085
Other current assets	1,969		1,466
	$	158,686	$	3,551

FAIR VALUE MEASUREMENTS - Additional Information (Details) $ in Thousands	3 Months Ended
	Jul. 31, 2023 USD ($)
Long-Term Debt
Defined Benefit Plan Disclosure [Line Items]
Unrealized losses	$ 455

PROPERTY AND EQUIPMENT - At Cost (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 4,154	$ 64,579
Less: accumulated depreciation and amortization	(456)	(61,045)
Property and equipment, net	3,698	3,534
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,388	12,632
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	606	9,994
Software
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,133	34,161
Computer hardware
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	400	5,317
Other
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 627	$ 2,475

EXCHANGE TRANSACTION - Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Exchange Transaction (Details) - SPLP $ in Thousands	May 01, 2023 USD ($)
Related Party Transaction [Line Items]
Estimated fair value of identifiable intangible assets	$ 35,500
Trade name
Related Party Transaction [Line Items]
Trade name	10,500
Customer relationships
Related Party Transaction [Line Items]
Other intangible assets	$ 25,000
Acquired finite-lived intangible assets, weighted average useful life	7 years

INCOME TAXES - Components of Loss from Continuing Operations before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
U.S.	$ 9,866	$ 2,021	$ (5,189)
Foreign	(2,115)	7,069	7,321
Income from continuing operations before income taxes	$ 7,751	$ 9,090	$ 2,132

- 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
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

DEBT - Summary of Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2022	Jul. 31, 2023	Jul. 31, 2022
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 265		$ 2,588	$ 3,120
Umpqua Revolver
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	0		36	212
Other
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	4		20	68
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Holdings
Interest Expense, Debt [Line Items]
Debt instrument, interest expense		$ 2,500	300	2,800
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Holdings \| Interest expense related to contractual interest coupon on the SPHG Note
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	261		844	1,136
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Holdings \| Interest expense related to accretion of the discount on the SPHG Note
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 0		$ 1,688	$ 1,704

FAIR VALUE MEASUREMENTS - Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Long-Term Debt $ in Thousands	3 Months Ended
	Jul. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of May 1, 2023 (Successor):	$ 13,006
Principal repayment	(1,000)
Unrealized losses	455
Balance as of July 31, 2023 (Successor)	$ 12,461

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Jul. 31, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER LIABILITIES

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Accrued Expenses	(In thousands)
Accrued compensation	$	6,891	$	5,099
Accrued audit, tax and legal	5,696		4,564
Accrued taxes	2,811		3,344
Accrued price concessions	2,981		4,549
Accrued occupancy costs	1,412		1,671
Accrued IT costs	831		1,108
Accrued other	6,152		8,061
Total accrued expenses	$	26,774	$	28,396


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Other Current Liabilities	(In thousands)
Accrued pricing liabilities	$	—	$	9,435
Deferred revenue - current	2,574		2,705
Other	1,970		1,342
Total other current liabilities	$	4,544	$	13,482

As of 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’s historical practice has been to derecognize the accrued pricing liabilities by customer depending upon which state the customer or former customer is located in and that state’s applicable statutes of limitations and escheatment laws. The amounts previously derecognized were recorded in Other gains, net in the Company’s consolidated statements of operations.

In connection with the Exchange Transaction discussed in Note 1 - "Nature of Operations", Steel Holdings recognized the Company's assets and liabilities acquired at fair value in accordance with ASC 805. As of the acquisition date, Steel Holdings determined the fair value of the accrued pricing liability to be zero as Steel Holdings believes it is remote there would be any potential payments to the Company's customers or former customers for the rebates. As such, as of July 31, 2023, the balance of accrued pricing liabilities was reduced to zero with a corresponding offset to goodwill recognized in connection with pushdown accounting.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property Plant and Equipment (Detail)	Jul. 31, 2023
Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Software
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Computer hardware
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Other
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years

DEFINED BENEFIT PENSION PLANS - Aggregate Change in Benefit Obligation and Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Change in benefit obligation
Benefit obligation at beginning of year	$ 21,103	$ 33,584
Adjustment related to unconditional indexation of benefits	1,077	0
Service cost	10	11
Interest cost	679	462
Actuarial gain	(4,885)	(8,674)
Benefits and administrative expenses paid	(275)	(227)
Settlements	(109)	0
Currency translation	1,519	(4,053)
Benefit obligation at end of year	19,119	21,103
Change in plan assets
Fair value of plan assets at beginning of year	17,976	29,223
Actual return on plan assets	(3,759)	(7,544)
Employer contributions, net	225	5
Settlements	(108)	0
Benefits and administrative expenses paid	(275)	(227)
Currency translation	1,255	(3,481)
Fair value of plan assets at end of year	15,314	17,976
Funded status
Current liabilities	(9)	(11)
Noncurrent liabilities	(3,796)	(3,116)
Net amounts recognized on the consolidated balance sheets	$ (3,805)	$ (3,127)

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 4,805	$ 7,330
Work-in-process	239	124
Finished goods	3,525	697
Inventory, net	$ 8,569	$ 8,151

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Income Taxes [Line Items]
Net deferred tax assets	$ 11,815	$ 3,184
Deferred tax liability	489
Change in valuation allowance	$ (390,700)	24,600
Ownership percentage	5.00%
Stockholder owning ownership on corporation's securities rolling period	3 years
Operating loss carryforwards, valuation allowance	$ 4,000
Unrecognized tax benefits, including interest, related to federal, state and foreign taxes	400	800
Expected any unrecognized tax benefits to reverse in the next twelve months	300
Federal
Income Taxes [Line Items]
Operating loss carryforwards	369,900
Federal \| Expiration Period July 31, 2023
Income Taxes [Line Items]
Operating loss carryforwards	1,700,000
Federal \| Expiration Period From July 31,2023 Through July 31, 2038
Income Taxes [Line Items]
Operating loss carryforwards	273,300
Federal \| Indefinite Carryforward Period
Income Taxes [Line Items]
Operating loss carryforwards	96,600
State
Income Taxes [Line Items]
Operating loss carryforwards	138,800
Foreign
Income Taxes [Line Items]
Operating loss carryforwards	69,800
Foreign net operating loss carryforward with indefinite period	67,200
Other Assets
Income Taxes [Line Items]
Net deferred tax assets	300	100
Other Long -term Liabilities
Income Taxes [Line Items]
Deferred tax liability	$ 800	$ 100

LEASES

12 Months Ended

Jul. 31, 2023

Leases [Abstract]

LEASES

The Company has operating and finance leases for office space, office equipment, warehouse space and automobiles. The leases have remaining terms of up to six years, some of which include options to purchase, extend or terminate the leases, and management has assessed such terms when determining the lease term for accounting purposes. The Company's current lease arrangements expire through fiscal year 2029.

The Company's leases do not include any residual value guarantees, and therefore none were considered in the calculation of the operating ROU and operating lease liability balances. The Company has leases that contain variable payments, most commonly in the form of common area maintenance charges, which are based on actual costs incurred. These variable payments were excluded from the calculation of the operating ROU asset and operating lease liability balances since they are not fixed or in-substance fixed payments.

For leases with terms greater than 12 months, the Company records the related operating ROU assets and operating lease liabilities at the present value of lease payments over the lease terms. For leases with an initial term of 12 months or less (with purchase options or extension options that are not reasonably certain to be exercised), the Company does not record them on the balance sheet, but instead recognizes lease expense on a straight-line basis over the terms of the leases.

Lease Expense

The components of the Company's lease expense are presented below:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Operating lease cost	$	2,565	$	7,538	$	9,973
Short-term lease expense	444		1,269		1,488
Sublease income	(171)		(786)		(748)
Variable lease cost	—		7		24

Interest on finance lease liabilities	—		—		3
	$	2,838	$	8,028	$	10,740

Lease Commitments

The Company's future minimum lease payments required under operating leases that have commenced as of July 31, 2023 were as follows:


	Operating Leases
	(In thousands)
2024	$	9,256
2025	8,054
2026	5,630
2027	4,298
2028	2,088
Thereafter	544
Total lease payments	29,870
Less: imputed interest	2,736
Present value of lease payments	27,134
Less: current lease obligations	7,973
Long-term lease obligations	$	19,161

In order to calculate the operating ROU asset and operating lease liability for a lease, a lessee is required to apply a discount rate equal to the rate implicit in the lease whenever that rate is readily determinable. The Company's lease agreements generally do not provide a readily determinable implicit rate, nor is the rate available to the Company from its lessors and, therefore, the Company determines an incremental borrowing rate to determine the present value of the lease payments. The incremental borrowing rate represents the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar lease term to obtain an asset of similar value.

Additional Lease Information

Additional information related to the Company's leases as of July 31, 2023 was as follows:


Weighted average remaining lease term:
Operating leases	3.7	years


Weighted average discount rate:
Operating leases		5.2%

Supplemental Cash Flow Information

Supplemental cash flow information related to the cash paid for amounts included in measurement of lease liabilities during the fiscal year ended July 31, 2023 and 2022 was as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Operating cash flows from operating leases	$	2,494	$	7,224	$	9,653
Operating cash flows from finance leases	$	—	$	—	$	3
Financing cash flows from finance leases	$	—	$	38	$	73

LEASES

Lease Expense

The components of the Company's lease expense are presented below:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Operating lease cost	$	2,565	$	7,538	$	9,973
Short-term lease expense	444		1,269		1,488
Sublease income	(171)		(786)		(748)
Variable lease cost	—		7		24

Interest on finance lease liabilities	—		—		3
	$	2,838	$	8,028	$	10,740

Lease Commitments

The Company's future minimum lease payments required under operating leases that have commenced as of July 31, 2023 were as follows:


	Operating Leases
	(In thousands)
2024	$	9,256
2025	8,054
2026	5,630
2027	4,298
2028	2,088
Thereafter	544
Total lease payments	29,870
Less: imputed interest	2,736
Present value of lease payments	27,134
Less: current lease obligations	7,973
Long-term lease obligations	$	19,161

Additional Lease Information

Additional information related to the Company's leases as of July 31, 2023 was as follows:


Weighted average remaining lease term:
Operating leases	3.7	years


Weighted average discount rate:
Operating leases		5.2%

Supplemental Cash Flow Information

Supplemental cash flow information related to the cash paid for amounts included in measurement of lease liabilities during the fiscal year ended July 31, 2023 and 2022 was as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Operating cash flows from operating leases	$	2,494	$	7,224	$	9,653
Operating cash flows from finance leases	$	—	$	—	$	3
Financing cash flows from finance leases	$	—	$	38	$	73

REVENUE RECOGNITION - Performance Obligations (Details) $ in Millions	Jul. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue	$ 2.6
Unearned revenue, timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue	$ 0.1
Unearned revenue, timing of satisfaction

SEGMENT INFORMATION

12 Months Ended

Jul. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

Subsequent 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 identifiable 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:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Net revenue:
Supply Chain	$	40,804	$	148,283	$	203,272
Total segment net revenue	$	40,804	$	148,283	$	203,272
Operating income:
Supply Chain	3,328		16,488		11,318
Total segment operating income	3,328		16,488		11,318
Corporate-level activity	(1,707)		(9,699)		(10,155)
Total operating (loss) income	1,621		6,789		1,163
Total other income	6,130		2,301		969
Income before income taxes	$	7,751	$	9,090	$	2,132


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Total assets:
Supply Chain	$	146,614	$	101,637
Corporate	264,567		36,112
Total assets	$	411,181	$	137,749

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


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Capital expenditures	$	807	$	1,311	$	1,485
Depreciation expense	456		1,427		2,220

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


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Mainland China	$	14,649	$	48,049	$	72,210
United States	8,800		38,262		50,426
Netherlands	5,774		15,149		24,483
Singapore	4,448		14,940		19,903
Czech	3,336		19,497		16,342
Other	3,797		12,386		19,908
Total consolidated net revenue	$	40,804	$	148,283	$	203,272

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 40
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 21
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

OTHER GAINS, NET - Components of Other Gains, Net (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Other Income and Expenses [Abstract]
Foreign currency exchange gains (losses), net	$ 446	$ (510)	$ 2,389
Derecognition of accrued pricing liabilities	0	0	860
Other gains, net	5,242	4,471	782
Other gains (losses), net	$ 5,688	$ 3,961	$ 4,031

SHARE-BASED PAYMENTS

12 Months Ended

Jul. 31, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED PAYMENTS

Share-Based Compensation Plans

The Company has adopted share-based compensation plans in order to provide incentives to directors, officers, employees and other individuals providing services to or on behalf of the Company and its subsidiaries. Where applicable, the disclosures below have been adjusted to reflect the Reverse/Forward Stock Split effective June 21, 2023.

On June 12, 2020, the Company's Board of Directors adopted, subject to stockholder approval, the Steel Connect, Inc. 2020 Stock Incentive Compensation Plan ("2020 Incentive Plan"), and on July 23, 2020, the 2020 Incentive Plan was approved. The 2020 Incentive Plan provides that the Company may grant nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-based awards and other cash based-awards. The 2020 Incentive Plan replaced the 2010 Incentive Award Plan, as amended (the "2010 Incentive Plan"). The Company also has a 2005 Non-Employee Director Plan (the "2005 Director Plan"). As of July 23, 2020, no additional grants may be issued under the 2010 Incentive Plan. Any awards that are outstanding under the 2010 Incentive Plan continue to be subject to the terms and conditions of such plan. Under the 2020 Incentive Plan, the Company may grant up to 529,821 shares of common stock of the Company in addition to (i) 393,015 shares of common stock previously available for issuance under the 2010 Incentive Plan and (ii) up to 113,627 shares of common stock subject to outstanding awards under the 2010 Incentive Plan, which if forfeited or lapse unexercised or are settled in cash and are not issued under the prior plan for any reason, may be issued under the 2020 Incentive Plan. As of July 31, 2023, 808,285 shares were available for future issuance under the 2020 Incentive Plan.

The Board of Directors administers all stock plans, approves the individuals to whom options will be granted, and determines the number of shares and exercise price of each option and may delegate this authority to a committee of the Board of Directors or to certain officers of the Company in accordance with Securities and Exchange Commission ("SEC") regulations and applicable Delaware law.

During the fiscal year ended July 31, 2023 and 2022, the Company awarded stock-based compensation under the 2020 Incentive Plan.

On December 15, 2017, under the 2010 Incentive Plan, the Board, upon the recommendation of the Special Committee and the Company's Compensation Committee, approved 4.0 million restricted stock grants and 1.5 million market based restricted stock grants to non-employee directors of the Company. The 4.0 million restricted stock vested immediately on the grant date. The 1.5 million market based restricted stock grants do not expire and vest upon the attainment of target stock price hurdles. As of July 31, 2020, 1.0 million of the market based restricted stock grants had met the target stock price hurdles. The restricted stock grants and market based restricted stock grants were fully expensed as of July 31, 2021. As discussed in Note 13 - "Commitments and Contingencies", on August 13, 2021 and February 22, 2022, respectively the Company, together with certain of its current and former directors of the Board, entered into a memorandum of understanding and stipulation of settlement with Donald Reith 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. Under the MOU, the stipulation and separate letter agreements between the Company and recipients of the 5.5 million restricted stock and market based restricted stock awards granted In December 2017, the non-employee directors surrendered to the Company an aggregate 2.9 million vested shares and 0.5 million unvested shares.

For the May 1 to July 31, 2023 Successor Period, $0.2 million of share-based compensation expense was recorded in SG&A expenses in the consolidated statements of operations. For the August 1, 2022 to April 30, 2023 Predecessor Period, and the fiscal year ended July 31, 2022 Predecessor Period, $0.5 million and $0.7 million, respectively, of share-based compensation expense was recorded in SG&A expenses in the consolidated statements of operations.

Restricted Stock

Restricted stock consists of shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. Restricted stock is expensed ratably over the term of the restriction period, ranging from one to five years unless there are performance conditions placed on the restricted stock, in which case the restricted stock is expensed using graded vesting. Restricted stock compensation expense for the fiscal years ended July 31, 2023 and 2022 was $0.8 million and $0.7 million, respectively.

A summary of the activity of the Company's restricted stock for the fiscal year ended July 31, 2023, is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
	(Share amounts in thousands)
Nonvested stock outstanding, July 31, 2022	51	$	13.95
Granted	64	10.97
Vested	(61)	13.32
Forfeited	—	—
Nonvested stock outstanding, July 31, 2023	54	$	10.97

The fair value of restricted shares is determined based on the market price of the Company's common stock on the grant date. The total grant date fair value of restricted stock that vested during the fiscal years ended July 31, 2023 and 2022 was approximately $0.8 million and $0.6 million, respectively. As of July 31, 2023, there was approximately $0.3 million of total unrecognized compensation cost related to restricted stock to be recognized over a weighted average period of 0.7 years.

Employee Stock Purchase Plan

The Company offers to its employees an Employee Stock Purchase Plan (the "ESPP") under which an aggregate of 64,286 shares of the Company's stock may be issued. Employees who elect to participate in the ESPP instruct the Company to withhold a specified amount through payroll deductions during each quarterly period. On the last business day of each applicable quarterly payment period, the amount withheld is used to purchase the Company's common stock at a purchase price equal to 85% of the lower of the market price on the first or last business day of the quarterly period. During the fiscal year ended July 31, 2023, the Company issued zero shares under the ESPP. During the fiscal year ended July 31, 2022, the Company issued approximately 53 shares under the ESPP. Approximately 8,284 shares are available for future issuance as of July 31, 2023.

INCOME TAXES

12 Months Ended

Jul. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXESThe components of income (loss) before provision for income taxes are as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Income (loss) from operations before income taxes:
U.S.	$	9,866	$	2,021	$	(5,189)
Foreign	(2,115)		7,069		7,321
Total income (loss) from operations before income taxes	$	7,751	$	9,090	$	2,132

The components of income tax expense from operations consist of the following:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Current (benefit) provision:
Federal	$	72	$	487	$	—
State	(110)		48		429
Foreign	(110)		1,095		1,918
	(148)		1,630		2,347
Deferred (benefit) provision:
Federal	—		—		8,849
State	—		—		76
Foreign	(250)		—		116
	(250)		—		9,041
Total tax (benefit) provision	$	(398)	$	1,630	$	11,388

As of July 31, 2023, the Company recorded a non-current deferred tax asset of $0.3 and a non-current deferred tax liability of $0.8 million in "Other Assets" and "Other Long-term Liabilities", respectively. As of July 31, 2022, the Company recorded a non-current deferred tax asset of $0.1 million and a non-current deferred tax liability of $0.1 million in "Other Assets" and "Other Long-term Liabilities," respectively. The components of deferred tax assets and liabilities are as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	2,645	$	4,295

Tax basis in excess of financial basis for intangible and fixed assets	175		901
Lease liability	3,574		2,288
Interest expense disallowance	—		2,357
Credit carry forwards	25		25
Net operating loss and capital loss carry forwards	95,832		474,496
Total gross deferred tax assets	102,251		484,362
Less: valuation allowance	(90,436)		(481,178)
Net deferred tax assets	$	11,815	$	3,184
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	$	(8,446)	$	(69)
Right of use asset	(3,454)		(2,154)
Convertible debt	(404)		(917)
Total gross deferred tax liabilities	(12,304)		(3,140)
Net deferred tax liabilities	$	(489)	$	44

The net change in the total valuation allowance for the fiscal year ended July 31, 2023 was an decrease of approximately $390.7 million. This decrease is primarily due to the U.S. valuation allowance. A valuation allowance has been recorded against the gross deferred tax asset in the U.S and certain foreign subsidiaries since management believes that after considering all the available objective evidence, both positive and negative, historical and prospective, it is more likely than not that certain assets will not be realized. The net change in the total valuation allowance for the fiscal year ended July 31, 2022 was an increase of approximately $24.6 million.

The Company has certain deferred tax benefits, including those generated by net operating losses and certain other tax attributes (collectively, the "Tax Benefits"). The Company's ability to use these Tax Benefits could be substantially limited if it were to experience an "ownership change," as defined under Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"). In general, an ownership change would occur if there is a greater than 50-percentage point change in ownership of securities by stockholders owning (or deemed to own under Section 382 of the Code) five or more of a corporation's securities over a rolling three year period.

The Company determined that the beginning balances related to its deferred tax accounts for both the cumulative net operating loss carryover along with valuation allowance balances needed to be updated due to an immaterial error associated with the return to provision true up. The return to provision true up adjustment related to the calculation of the Company’s stock basis for the IWCO worthless stock deduction. The net impact of the reduction to the beginning balances for the net operating losses and valuation allowances was approximately $4.0 million and did not change any amounts recognized in the consolidated balance sheets or consolidated statements of operations.

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% corporate minimum tax rate applied to certain large corporations and a 1% excise tax on corporate stock repurchases made after December 31, 2022. We do not expect the IRA to have a material impact on our consolidated financial statements.

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. The CARES Act contains numerous tax provisions including temporary changes to the future limitations on interest deductions related to section 163j.

The Company has estimated its fiscal year 2023 global intangible low-taxed income ("GILTI") inclusion based on its current year foreign activity. The foreign entities have minor earnings and profit adjustments that will be factored in as part of the tax return filing. These amounts are not material and will not have a significant impact on the overall tax provision or disclosure. Due to the net operating losses available in the U.S., the Company is not entitled to a Section 250 deduction, which

is why the total income amount has been recorded as the GILTI inclusion. The Company has made an accounting policy election, as allowed by the SEC and FASB, to recognize the impact of GILTI within the period incurred. Therefore, no U.S. deferred taxes are provided in GILTI inclusions of future foreign subsidiary earnings.

The Company has net operating loss carryforwards for federal and state tax purposes of approximately $369.9 million and $138.8 million, respectively, at July 31, 2023. As of July 31, 2023, approximately $1.7 billion of net operating loss carryforwards for federal and state tax purposes expired. $273.3 million of the company's federal net operating losses will expire from the fiscal year ending July 31, 2024 through the fiscal year ended July 31, 2038 and the remainder federal net operating losses of $96.6 million has an indefinite carryforward period. The state net operating losses will expire from the fiscal year ended July 31, 2024 through the fiscal year ended July 31, 2042. The Company has a foreign net operating loss carryforward of approximately $69.8 million, of which $67.2 million has an indefinite carryforward period.

Income tax expense attributable to income from continuing operations differs from the expense computed by applying the U.S. federal income tax rate of 21.0% to (loss) income from continuing operations before income taxes as a result of the following:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
			(In thousands)
Computed "expected" income tax expense (benefit)	$	1,627	$	1,909	$	448
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	(350,469)		(424)		21,703
Foreign tax rate differential	(255)		(50)		56


Nondeductible expenses	459		—		159
Foreign withholding taxes	245		147		134
Foreign other adjustments	(246)		—		951
GILTI	1,141		—		4,775
Addition of uncertain tax position reserves	(430)		11		58
Worthless stock deduction	—		—		(16,860)

State income taxes, net of federal benefit	(1,916)		37		(603)
Expiration of net operating loss	347,462		—		—
Deferred true-up	1,786		—		751
Other	198		—		(184)
Actual income tax (benefit) expense	$	(398)	$	1,630	$	11,388

The calculation of the Company's income tax liabilities involves dealing with uncertainties in the application of complex tax regulations in several tax jurisdictions. The Company is periodically reviewed by domestic and foreign tax authorities regarding the amount of taxes due. These reviews include questions regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions. In evaluating the exposure associated with various filing positions, the Company records estimated reserves when necessary. Based on the evaluation of current tax positions, the Company believes it has appropriately accrued for exposures.

The Company operates in multiple taxing jurisdictions, both within and outside of the United States. At July 31, 2023 and 2022, the total amount of the liability for unrecognized tax benefits, including interest, related to federal, state and foreign taxes was approximately $0.4 million and $0.8 million, respectively. To the extent the unrecognized tax benefits are recognized, the entire amount would impact income tax expense. The Company expects that there will be a $0.3 million reduction of the unrecognized tax benefits in the next twelve months related to the U.S. state income tax exposure as a result of a lapse in the applicable statute of limitations.

The Company files income tax returns in the U.S., various states and in foreign jurisdictions. The federal and state income tax returns are generally subject to tax examinations for the tax years ended July 31, 2020 through July 31, 2023. 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 2015 through 2022 tax years remain subject to examination in most locations while the Company's 2011 through 2022 tax years remain subject to examination in most Asia locations.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Balance as of beginning of year	$	571	$	2,140
Additions for current year tax positions	—		—
Currency translation	—		(4)
Reductions for lapses in statute of limitations	(297)		(67)
Reductions for member leaving consolidated group	—		(1,498)
Balance as of end of year	$	274	$	571

In accordance with the Company's accounting policy, interest related to income taxes is included in the provision for income taxes line of the consolidated statements of operations. For the fiscal years ended July 31, 2023 and 2022, the Company has not recognized any material interest expense related to uncertain tax positions. As of July 31, 2023 and 2022, the Company had recorded liabilities for increases in interest expense related to uncertain tax positions for an immaterial amount. The Company expects $0.3 million of unrecognized tax benefits and related interest will reverse in the next twelve months.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Jul. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

In connection with the application of pushdown accounting, the Company recorded intangible assets for goodwill, customer relationships and tradenames. There were no indicators of impairment of goodwill and other intangible assets during the Successor period. A reconciliation of the change in the carrying amount of goodwill by reportable segment is as follows:


	Supply Chain
Balance at May 1, 2023 (Successor)
Application of pushdown accounting(a)	$	22,785
Balance at July 31, 2023 (Successor)
Gross goodwill	22,785
Accumulated impairments	—
Net goodwill	$	22,785

(a) Related to the Exchange Transaction with Steel Holdings. See Note 3 - "Exchange Transaction" for further details.

A summary of Other intangible assets, net is as follows:


	Successor
	July 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	25,000	$	911	$	24,089
Trade name	10,500		—		10,500
Total	$	35,500	$	911	$	34,589

The trade name intangible asset has an indefinite useful life. Customer relationships are amortized on a straight-line basis. Amortization expense related to intangible assets was $0.9 million for the fiscal year ended July 31, 2023. The Exchange Transaction closed on May 1, 2023, and as such, there was no intangible assets or related amortization expense for the fiscal year ended July 31, 2022.

Based on gross carrying amounts at July 31, 2023, the Company's estimate of amortization expense for each of the five succeeding years and thereafter is as follows:


	Fiscal Year Ending July 31,
	2024		2025		2026		2027		2028		Thereafter
Estimated amortization expense	$	3,555	$	3,571	$	3,571	$	3,571	$	3,571	$	6,250

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Cash flows from operating activities:
Net loss	$ 8,149	$ 7,460	$ (10,968)
Loss from discontinued operations, net of tax	0	0	1,712
Net income (loss) from continuing operations	8,149	7,460	(9,256)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	456	1,427	2,220
Amortization of intangible assets	911	0	0
Amortization of deferred financing costs	0	36	102
Accretion of debt discount	0	1,688	1,704
Share-based compensation	236	529	701
Deferred taxes	(250)	0	9,041
Non-cash lease expense	2,208	6,760	9,425
Bad debt expense (recovery)	(297)	1,136	(5)
Other gains, net	(5,687)	(3,962)	(4,087)
Non-cash impact of application of pushdown accounting	8,079	0	0
Changes in operating assets and liabilities:
Accounts receivable, net	8,409	2,933	(5,251)
Inventories, net	(1,567)	1,440	323
Prepaid expenses and other current assets	905	(1,237)	1,065
Accounts payable and accrued expenses	(1,690)	(3,886)	801
Refundable and accrued income taxes, net	(214)	(829)	(471)
Other assets and liabilities	(11,125)	(4,495)	(9,446)
Net cash provided by (used in) operating activities	8,523	9,000	(3,134)
Cash flows from investing activities:
Additions to property and equipment	(807)	(1,311)	(1,485)
Proceeds from the disposition of property and equipment	1	166	0
Proceeds from the sale of securities	53,644	1,881	0
Net cash provided by (used in) investing activities	52,838	736	(1,485)
Cash flows from financing activities:
Series C redeemable preferred stock dividend payments	(537)	(1,593)	(2,129)
Payment of deferred financing costs	0	(149)	(95)
Repayments on capital lease obligations	0	(38)	(73)
Repayments on debt	(1,000)	(1,000)	0
Payments for fractional shares resulting from the Reverse/Forward stock split	(2,288)	0	0
Net cash used in financing activities	(3,825)	(2,780)	(2,297)
Net effect of exchange rate changes on cash and cash equivalents	(29)	895	(1,368)
Net increase (decrease) in cash, cash equivalents and restricted cash	57,507	7,851	(8,284)
Cash, cash equivalents and restricted cash, beginning of period	65,896	58,045	66,329
Cash, cash equivalents and restricted cash, end of period	123,403	65,896	58,045
Cash flows from discontinued operations:
Operating activities	0	0	(6,738)
Investing activities	0	0	625
Financing activities	0	0	4,230
Net cash (used in) provided by discontinued operations	$ 0	$ 0	$ (1,883)

SEGMENT INFORMATION - Summarized Financial Information of Continuing Operations by Operating Segment and Corporate-Level Activity (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Net revenue	$ 40,804	$ 148,283	$ 203,272
Operating (loss) income	1,621	6,789	1,163
Total other income	6,130	2,301	969
Income from continuing operations before income taxes	7,751	9,090	2,132
Operating Segments
Segment Reporting Information [Line Items]
Operating (loss) income	3,328	16,488	11,318
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Net revenue	40,804	148,283	203,272
Operating (loss) income	3,328	16,488	11,318
Corporate-level activity
Segment Reporting Information [Line Items]
Operating (loss) income	$ (1,707)	$ (9,699)	$ (10,155)

SEGMENT INFORMATION - Additional Information (Detail)	12 Months Ended
SEGMENT INFORMATION - Additional Information (Detail)	Jul. 31, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	1

REVENUE RECOGNITION REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022	Aug. 01, 2021	Jul. 31, 2021
Disaggregation of Revenue [Line Items]
Contract assets	$ 439		$ 369	$ 627
Deferred revenue - current	2,574		2,705	2,212
Deferred revenue - long-term	144		134	108
Total deferred revenue	2,718	$ 3,073	2,839	2,320	$ 2,320
Trade Accounts Receivable
Disaggregation of Revenue [Line Items]
Accounts receivable, trade, net	$ 28,616		$ 40,083	$ 36,547

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SEGMENT INFORMATION - Summarized Financial Information of Net Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Net revenue	$ 40,804	$ 148,283	$ 203,272
Mainland China
Segment Reporting Information [Line Items]
Net revenue	14,649	48,049	72,210
United States
Segment Reporting Information [Line Items]
Net revenue	8,800	38,262	50,426
Netherlands
Segment Reporting Information [Line Items]
Net revenue	5,774	15,149	24,483
Singapore
Segment Reporting Information [Line Items]
Net revenue	4,448	14,940	19,903
Czech
Segment Reporting Information [Line Items]
Net revenue	3,336	19,497	16,342
Other
Segment Reporting Information [Line Items]
Net revenue	$ 3,797	$ 12,386	$ 19,908

- Definition

+ References

+ Details

EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Jul. 31, 2023

Earnings Per Share [Abstract]

Reconciliation of Net Income (Loss) Per Share

The following table reconciles net income (loss) per share for the periods below:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		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	$	8,149	$	7,460	$	(9,256)
Loss from discontinued operations	—		—		(1,712)
Net income (loss)	8,149		7,460		(10,968)
Less: Preferred dividends on Series C preferred stock	(537)		(1,593)		(2,129)
Net income (loss) available to common stockholders	7,612		5,867		(13,097)
Less: Undistributed earnings allocated to participating securities	(5,803)		—		—
Net income (loss) attributable to common stockholders	$	1,809	$	5,867	$	(13,097)

Effect of dilutive securities:
Dividends on Series C preferred stock	537		1,593		—
Undistributed earnings allocated to Series E preferred stock	5,803		—		—
Net income (loss) attributable to common stockholders - assuming dilution	$	8,149	$	7,460	$	(13,097)

Net income (loss) per common share - basic
Net income (loss) from continuing operations	$	0.29	$	0.91	$	(1.77)
Net loss from discontinued operations	—		—		(0.27)
Net income (loss) attributable to common stockholders	$	0.29	$	0.91	$	(2.04)

Net income (loss) per common share - diluted
Net income (loss) from continuing operations	$	0.29	$	0.89	$	(1.77)
Net loss from discontinued operations	—		—		(0.27)
Net income (loss) attributable to common stockholders	$	0.29	$	0.89	$	(2.04)

Weighted average common shares outstanding - basic	6,177		6,449		6,425
Effect of dilutive securities:
Common stock equivalents - Restricted stock and restricted stock shares	60		55		—
Common stock equivalents - Series C Preferred Stock	1,913		1,913		—
Common stock equivalents - Series E Preferred Stock	19,810		—		—
Weighted average common shares outstanding - diluted	27,960		8,417		6,425

DEBT (Tables)

12 Months Ended

Jul. 31, 2023

Debt Disclosure [Abstract]

Summary of Components of Debt and Reconciliation to Carrying Amount

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


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	12,461	$	14,940

Credit Facilities

Umpqua Revolver	—		—
Less: unamortized discounts and issuance costs(a)(b)	—		(3,972)
Total debt, net	$	12,461	$	10,968

(a) As of May 1, 2023, the Company will account for the SPHG Note under the fair value option.

(b) Amounts include deferred debt issuance costs related to credit facilities of $79 thousand as of July 31, 2022, which are presented in Other Assets.

Summary of Debt


	Predecessor
	July 31, 2022

Carrying amount of equity component	$	8,200

Principal amount of note	$	14,940

Unamortized debt discount	(3,893)
Net carrying amount	$	11,047

Summary of Interest Expense Related to Convertible Notes

Below is a reconciliation of interest expense related to the SPHG Note to total interest expense:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Interest expense related to contractual interest coupon on the SPHG Note	$	261	$	844	$	1,136
Interest expense related to accretion of the discount on the SPHG Note	—		1,688		1,704
Interest expense related to revolving credit facilities (see below)	—		36		212
Other	4		20		68
Total interest expense	$	265	$	2,588	$	3,120

- 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

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Jul. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

A reconciliation of the change in the carrying amount of goodwill by reportable segment is as follows:


	Supply Chain
Balance at May 1, 2023 (Successor)
Application of pushdown accounting(a)	$	22,785
Balance at July 31, 2023 (Successor)
Gross goodwill	22,785
Accumulated impairments	—
Net goodwill	$	22,785

(a) Related to the Exchange Transaction with Steel Holdings. See Note 3 - "Exchange Transaction" for further details.

Schedule of Indefinite-Lived Intangible Assets

A summary of Other intangible assets, net is as follows:


	Successor
	July 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	25,000	$	911	$	24,089
Trade name	10,500		—		10,500
Total	$	35,500	$	911	$	34,589

Schedule of Estimated Future Amortization Expense of Intangible Assets

Based on gross carrying amounts at July 31, 2023, the Company's estimate of amortization expense for each of the five succeeding years and thereafter is as follows:


	Fiscal Year Ending July 31,
	2024		2025		2026		2027		2028		Thereafter
Estimated amortization expense	$	3,555	$	3,571	$	3,571	$	3,571	$	3,571	$	6,250

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

OTHER GAINS, NET (Tables)

12 Months Ended

Jul. 31, 2023

Other Income and Expenses [Abstract]

Components of Other Gains, Net

The following table presents the components of "Other gains, net":


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Foreign currency exchange gains (losses), net	$	446	$	(510)	$	2,389
Derecognition of accrued pricing liabilities(a)	—		—		860

Other gains, net	5,242		4,471		782
	$	5,688	$	3,961	$	4,031

(a) Refer to Note 3 - "Exchange Transaction" and Note 9 - "Accrued Expenses and Other Current Liabilities" for information on the derecognition of the accrued pricing liabilities.

DEFINED BENEFIT PENSION PLANS - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail)	Jul. 31, 2023	Jul. 31, 2022
Retirement Benefits [Abstract]
Discount rate	4.21%	2.96%
Rate of compensation increase	0.00%	0.00%

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Reconciliation of Cash (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022	Jul. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 121,372		$ 53,142
Funds held for clients	2,031		4,903
Cash, cash equivalents and restricted cash	$ 123,403	$ 65,896	$ 58,045	$ 66,329

STOCKHOLDERS' EQUITY - Additional Information (Detail) $ / shares in Units, $ in Millions	Jun. 06, 2023 shares	Dec. 15, 2017 USD ($) d vote $ / shares shares	Jul. 31, 2023 $ / shares shares	Jun. 21, 2023 $ / shares shares	May 01, 2023 shares	Apr. 30, 2023 $ / shares shares	Jul. 31, 2022 $ / shares shares	Feb. 28, 2019 $ / shares
Equity [Line Items]
Preferred stock, shares issued (in shares) \| shares			0				0
Preferred stock, par value (in usd per share)			$ 0.01	$ 0.01			$ 0.01
Common stock, par value (in usd per share)			0.01			$ 0.01	$ 0.01
Percentage of declared dividends		100.00%
Preferred stock, convertible, conversion price (in dollars per share)			$ 58.1087
Number of votes per share \| vote		1
Preferred stock, shares authorized (in shares) \| shares			4,965,000	3,535,000			4,965,000
Steel Connect, Inc. \| Steel Connect, Inc.
Equity [Line Items]
Equity method investment, ownership percentage						50.00%
Common Stock
Equity [Line Items]
Reverse stock split, conversion ratio	0.00029
Stockholders' equity note, forward stock split, conversion ratio	375
Stockholders' equity note, reverse stock split, shares owned threshold \| shares	3,500
SPHG Holdings
Equity [Line Items]
Initial conversion price (in usd per share)								$ 22.16
Series C Convertible Preferred Stock
Equity [Line Items]
Common stock, par value (in usd per share)		$ 0.01
Convertible preferred stock conversion price per share (in usd per share)		$ 18.29
Preferred stock, dividend rate, percentage		6.00%
Percentage threshold closing sale price of common stock higher than conversion price		170.00%
Trading days \| d		5
Series C Convertible Preferred Stock \| Purchase Agreement \| SPHG Holdings
Equity [Line Items]
Preferred stock, shares issued (in shares) \| shares		35,000
Preferred stock, par value (in usd per share)		$ 0.01
Price per share (in usd per share)		$ 1,000
Proceeds from issuance of preferred stock \| $		$ 35.0
Percentage of stated value		100.00%
Series E Preferred Stock
Equity [Line Items]
Preferred stock, convertible, shares issuable (in shares) \| shares	19,800,000
Initial conversion price (in usd per share)			$ 10.27
Series E Preferred Stock \| Exchange Transaction Agreement \| Steel Partners Group
Equity [Line Items]
Preferred stock, shares issued (in shares) \| shares					3,500,000	3,500,000

DEBT - Net Carrying Value of the Notes (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Debt Instrument [Line Items]
Total debt, net	$ 12,461	$ 10,968
SPHG Holdings \| 7.50% Convertible Senior Note due September 1, 2024
Debt Instrument [Line Items]
Carrying amount of equity component		8,200
Principal amount of note	12,900	14,940
Unamortized debt discount		(3,893)
Total debt, net	$ 12,500	$ 11,047

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

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

+ References + Details

SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Jul. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Activity of Nonvested Stock

A summary of the activity of the Company's restricted stock for the fiscal year ended July 31, 2023, is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
	(Share amounts in thousands)
Nonvested stock outstanding, July 31, 2022	51	$	13.95
Granted	64	10.97
Vested	(61)	13.32
Forfeited	—	—
Nonvested stock outstanding, July 31, 2023	54	$	10.97

OTHER GAINS, NET- Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net	$ 5,242	$ 4,471	$ 782
Proceeds Received from Sale of Investment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net		1,900
Settlement with Client
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net		1,400
Interest Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net		$ 900
Aerojet Share
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net	$ 5,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Jul. 31, 2023
Auditor Information [Abstract]
Auditor name	BDO USA, P.C.
Auditor location	New York, NY
Auditor firm ID	243

LEASES - Lease Information (Details)	Jul. 31, 2023	Jul. 31, 2022
Weighted average remaining lease term:
Operating leases	3 years 8 months 12 days
Weighted average discount rate:
Operating leases	5.20%	3.90%

EARNINGS (LOSS) PER SHARE - Reconciliation of Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income (loss) from continuing operations		$ 8,149	$ 7,460	$ (9,256)
Loss from discontinued operations		0	0	(1,712)
Net income (loss)	$ 8,149	8,149	7,460	(10,968)
Less: Preferred dividends on Series C preferred stock	$ 537	537	1,593	2,129
Net income (loss) attributable to common stockholders		7,612	5,867	(13,097)
Less: Undistributed earnings allocated to participating securities		(5,803)	0	0
Net income (loss) attributable to common stockholders		1,809	5,867	(13,097)
Dividends on Series C preferred stock		537	1,593	0
Undistributed earnings allocated to Series E preferred stock		5,803	0	0
Net income (loss) attributable to common stockholders - assuming dilution		$ 8,149	$ 7,460	$ (13,097)
Basic continuing operations (in usd per share)		$ 0.29	$ 0.91	$ (1.77)
Diluted discontinued operations (in usd per share)		0	0	(0.27)
Basic net income (loss) per share (in usd per share)		0.29	0.91	(2.04)
Diluted net income (loss) per share (in usd per share)		0.29	0.89	(2.04)
Diluted continuing operations (in usd per share)		0.29	0.89	(1.77)
Diluted discontinued operations (in usd per share)		$ 0	$ 0	$ (0.27)
Weighted-average number of common units outstanding - basic (in shares)		6,177	6,449	6,425
Weighted-average number of common units outstanding - diluted (in shares)		27,960	8,417	6,425
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)		60	55	0
Common stock equivalents - Series C Preferred Stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Incremental common shares attributable to dilutive effect of conversion of preferred stock (in shares)		1,913	1,913	0
Series E Preferred Stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Incremental common shares attributable to dilutive effect of conversion of preferred stock (in shares)		19,810	0	0

SHARE-BASED PAYMENTS - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 15, 2017	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2020	Jul. 23, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares)		6,250,493		6,250,493	6,485,309
Grant date fair value of nonvested stock		$ 0.8		$ 0.8	$ 0.6
Unrecognized compensation cost related to nonvested stock		0.3		$ 0.3
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 0.2	$ 0.5		$ 0.7
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for future issuance (in shares)		8,284		8,284
Number of shares pursuant to stock options granted (in shares)				64,286
Common stock purchase price as a percentage of market value (in percentage)				85.00%
Shares issued under plan (in shares)					53
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non vested stock compensation expense				$ 0.8	$ 0.7
Weighted average period of cost expected to be expensed (in years)				8 months 12 days
Restricted Stock \| Nonemployee Director \| Reith v. Lichtenstein
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of vested shares surrendered	2,900,000
Number of nonvested shares surrendered	500,000
Minimum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of restriction period (in years)				1 year
Maximum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of restriction period (in years)				5 years
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant							529,821
Common stock shares available for future issuance (in shares)		808,285		808,285
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for future issuance (in shares)							393,015
Common stock, shares outstanding (in shares)							113,627
2010 Plan \| Restricted Stock and Market Performance Based Restricted Stock, Total \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted (in shares)	5,500,000
2010 Plan \| Restricted Stock \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted (in shares)	4,000,000
Restricted stock award vested (in shares)	4,000,000
2010 Plan \| Market Performance Based Restricted Stock \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted (in shares)	1,500,000
Restricted stock award vested (in shares)						1,000,000

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Jul. 31, 2023

Payables and Accruals [Abstract]

Components of Accrued Expenses

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


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Accrued Expenses	(In thousands)
Accrued compensation	$	6,891	$	5,099
Accrued audit, tax and legal	5,696		4,564
Accrued taxes	2,811		3,344
Accrued price concessions	2,981		4,549
Accrued occupancy costs	1,412		1,671
Accrued IT costs	831		1,108
Accrued other	6,152		8,061
Total accrued expenses	$	26,774	$	28,396

Components of Other Current Liabilities


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Other Current Liabilities	(In thousands)
Accrued pricing liabilities	$	—	$	9,435
Deferred revenue - current	2,574		2,705
Other	1,970		1,342
Total other current liabilities	$	4,544	$	13,482

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Donald Reith v. Warren G. Lichtenstein, et al. 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 Holdings, 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 Holdings, 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 $3.0 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. On September 12, 2023, the court approved a stipulated pretrial and trial schedule culminating in a trial scheduled for September 2024. The possible liability, if any, with respect to this dispute cannot be determined. On June 6, 2023, the Company received a books and records demand from Reith under Delaware General Corporation Law Section 220 which requests an array of documents for the purported purposes of investigating potential wrongdoing in connection with the April 30, 2023 transaction between Steel Holdings and Steel Connect. The Company is responding to this demand. The possible liability, if any, with respect to this dispute cannot be determined. Mohammad Ladjevardian v. Warren G. Lichtenstein, et al. On September 1, 2023, a purported stockholder, Mohammad Ladjevardian, filed a verified complaint alleging a single direct claim for breach of fiduciary duty against members of Steel Connect’s Board of Directors, Steel Holdings, Steel Excel, Inc., and WebFinancial Corporation in connection with the Exchange Transaction. Directors named in the complaint are Warren Lichtenstein, Glen Kassan, and Jack Howard. The complaint alleges that although the challenged transaction was approved by the independent Strategic Planning Committee, the committee failed to obtain a “control premium” or to consider the dilutive effect that the Series E issuance had on the plaintiff’s holdings. Remedies requested include rescission of the Series E shares and a judicially imposed requirement that all future transactions involving Steel Holdings and its affiliates be subject to minority stockholder approval. On September 27, 2023, the entity defendants moved to dismiss the complaint. On October 5, 2023, the individual defendants moved to dismiss the complaint. The possible liability, if any, with respect to this dispute cannot be determined as of this date.

EXCHANGE TRANSACTION - Schedule of Exchange Transaction Consideration (Details) - SPLP $ in Thousands	May 01, 2023 USD ($)
Related Party Transaction [Line Items]
Less: cash acquired from Steel Connect	$ (65,896)
Total estimated consideration, less cash acquired	248,653
Aerojet Share
Related Party Transaction [Line Items]
Business combination, consideration transferred, equity interests issued and issuable	202,733
Common Stock
Related Party Transaction [Line Items]
Business combination, consideration transferred, equity interests issued and issuable	$ 111,816

RESTRUCTURING ACTIVITIES - Restructuring Liability Rollforward (Details) - IWCO Direct's Competitive Improvement Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Apr. 30, 2023	Jul. 31, 2023	Jul. 31, 2022
Restructuring Reserve [Roll Forward]
Costs incurred	$ (62)	$ 100	$ 97		$ 1,513
Change in estimates	100
IWCO Direct Holdings, Inc.
Restructuring Reserve [Roll Forward]
Beginning balance			$ 892	$ 892
Costs incurred				35
Cash payments				(925)
Change in estimates				(2)
Ending balance	$ 0			$ 0	$ 892

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2023	Jul. 31, 2022
Income Statement [Abstract]
Net revenue	$ 40,804	$ 148,283		$ 203,272
Cost of revenue	29,749	108,031		161,736
Gross profit	11,055	40,252		41,536
Operating expenses:
Selling, general and administrative	8,523	33,463		40,373
Amortization	911	0		0
Total operating expenses	9,434	33,463		40,373
Operating income	1,621	6,789		1,163
Other income (expense):
Interest income	707	928		58
Interest expense	(265)	(2,588)		(3,120)
Other gains, net	5,688	3,961		4,031
Total other income	6,130	2,301		969
Income from continuing operations before income taxes	7,751	9,090		2,132
Income tax (benefit) expense	(398)	1,630		11,388
Net income (loss) from continuing operations	8,149	7,460		(9,256)
Net loss from discontinued operations	0	0		(1,712)
Net income (loss)	8,149	7,460		(10,968)
Less: Preferred dividends on redeemable preferred stock	(537)	(1,593)		(2,129)
Net income (loss) attributable to common stockholders	$ 7,612	$ 5,867		$ (13,097)
Basic continuing operations (in usd per share)	$ 0.29	$ 0.91		$ (1.77)
Diluted discontinued operations (in usd per share)	0	0		(0.27)
Basic net income (loss) per share (in usd per share)	0.29	0.91		(2.04)
Diluted continuing operations (in usd per share)	0.29	0.89		(1.77)
Diluted discontinued operations (in usd per share)	0	0		(0.27)
Diluted net income (loss) per share (in usd per share)	$ 0.29	$ 0.89		$ (2.04)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted-average number of common units outstanding - basic (in shares)	6,177	6,449		6,425
Weighted-average number of common units outstanding - diluted (in shares)	27,960	8,417		6,425
Financial Designation, Predecessor and Successor [Fixed List]			Successor

LEASES - Lease Commitments (Details) $ in Thousands	Jul. 31, 2023 USD ($)
Operating Leases
2024	$ 9,256
2025	8,054
2026	5,630
2027	4,298
2028	2,088
Thereafter	544
Total lease payments	29,870
Less: imputed interest	2,736
Present value of lease payments	$ 27,134
Operating lease, liability, current, statement of financial position	Current lease obligations
Less: current lease obligations	$ 7,973
Operating lease, liability, noncurrent, statement of financial position	Long-term lease obligations
Long-term lease obligations	$ 19,161

RESTRUCTURING ACTIVITIES

12 Months Ended

Jul. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

ModusLink 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 $0.9 million during the three months ended January 31, 2022. In July 2022, ModusLink reorganized its supply chain operations in Ireland and recorded a restructuring charge of approximately $0.6 million during the three months ended July 31, 2022. The restructuring charges recorded in fiscal year ended July 31, 2022 were primarily composed of employee termination costs.

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 months ended April 30, 2023. The restructuring charges recorded in three months ended April 30, 2023 were primarily composed of employee termination costs. In the three months ended July 2023, ModusLink completed its Ireland and United States strategic reorganization plan and reversed approximately $0.1 million of restructuring accrual. The reversal of unused restructuring charges recorded in the three months ended July 31, 2023 were primarily related to employee termination costs.

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


	Successor	Predecessor
	May 1 to July 31,	August 1, 2022 to April 30,	Fiscal Year Ended July 31,
(in thousands)	2023	2023	2022
Cost of revenue	(62)	97	$	1,200
Selling, general and administrative	—	—	313
	(62)	97	$	1,513

Changes to the restructuring liability during the fiscal year ended July 31, 2023 were as follows:


	(in thousands)
Balance as of July 31, 2022	$	892
Costs incurred	35
Cash payments	(925)
Change in estimates	(2)
Balance as of July 31, 2023	$	—

EXCHANGE TRANSACTION - Narrative (Details) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
EXCHANGE TRANSACTION - Narrative (Details) - USD ($)	May 01, 2023	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2023	Jul. 31, 2022	Jun. 06, 2023
Related Party Transaction [Line Items]
Common stock, par value (in usd per share)		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0		0	0
Equity ownership, excluding consolidated entity and equity method investee, percentage						84.00%
Ownership percentage, noncontrolling interest, threshold percentage	16.00%
Ownership percentage, prior approval of equity securities, threshold percentage			49.60%
Other gains, net		$ 5,242,000	$ 4,471,000		$ 782,000
SPLP
Related Party Transaction [Line Items]
Measurement period adjustments, operating lease, right-of-use asset	$ 350,000
Deferred debt issuance cost, writeoff	43,400
Measurement period adjustments, convertible notes payable	1,420,000
Measurement period adjustments, other liabilities, current	(9,435,000)
Measurement period adjustments, other liabilities, noncurrent	242,000
Deferred income tax liabilities, net	800,000
Measurement period adjustments, non-current pension liability	(500,000)
Investments	$ 202,733,000
Aerojet Share
Related Party Transaction [Line Items]
Proceeds from exchange transaction				$ 207,800,000
Other gains, net		5,100,000
Aerojet common stock proceeds receivable		$ 154,500,000		$ 154,500,000	$ 0
Series E Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, convertible, shares issuable (in shares)						19,800,000
Common Stock
Related Party Transaction [Line Items]
Common stock, par value (in usd per share)						$ 0.01
Exchange Transaction Agreement \| Steel Partners \| Aerojet Share \| Exchanging Parties
Related Party Transaction [Line Items]
Common stock, shares exchanged (in shares)	3,600,000
Common stock, par value (in usd per share)	$ 0.10
Exchange Transaction Agreement \| Steel Partners \| Series E Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, shares issued (in shares)	3,500,000

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Deferred tax assets:
Accruals and reserves	$ 2,645	$ 4,295
Tax basis in excess of financial basis for intangible and fixed assets	175	901
Lease liability	3,574	2,288
Interest expense disallowance	0	2,357
Credit carry forwards	25	25
Net operating loss and capital loss carry forwards	95,832	474,496
Total gross deferred tax assets	102,251	484,362
Less: valuation allowance	(90,436)	(481,178)
Net deferred tax assets	11,815	3,184
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	(8,446)	(69)
Right of use asset	(3,454)	(2,154)
Convertible debt	(404)	(917)
Total gross deferred tax liabilities	(12,304)	(3,140)
Net deferred tax liabilities	$ (489)
Net deferred tax assets		$ 44

INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2023

Income Tax Disclosure [Abstract]

Components of Loss from Continuing Operations before Provision for Income Taxes

The components of income (loss) before provision for income taxes are as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Income (loss) from operations before income taxes:
U.S.	$	9,866	$	2,021	$	(5,189)
Foreign	(2,115)		7,069		7,321
Total income (loss) from operations before income taxes	$	7,751	$	9,090	$	2,132

Components of Income Tax Expense from Operations

The components of income tax expense from operations consist of the following:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Current (benefit) provision:
Federal	$	72	$	487	$	—
State	(110)		48		429
Foreign	(110)		1,095		1,918
	(148)		1,630		2,347
Deferred (benefit) provision:
Federal	—		—		8,849
State	—		—		76
Foreign	(250)		—		116
	(250)		—		9,041
Total tax (benefit) provision	$	(398)	$	1,630	$	11,388

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	2,645	$	4,295

Tax basis in excess of financial basis for intangible and fixed assets	175		901
Lease liability	3,574		2,288
Interest expense disallowance	—		2,357
Credit carry forwards	25		25
Net operating loss and capital loss carry forwards	95,832		474,496
Total gross deferred tax assets	102,251		484,362
Less: valuation allowance	(90,436)		(481,178)
Net deferred tax assets	$	11,815	$	3,184
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	$	(8,446)	$	(69)
Right of use asset	(3,454)		(2,154)
Convertible debt	(404)		(917)
Total gross deferred tax liabilities	(12,304)		(3,140)
Net deferred tax liabilities	$	(489)	$	44

Reconciliation of Income Tax Expense Attributable to Income from Continuing Operations


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
			(In thousands)
Computed "expected" income tax expense (benefit)	$	1,627	$	1,909	$	448
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	(350,469)		(424)		21,703
Foreign tax rate differential	(255)		(50)		56


Nondeductible expenses	459		—		159
Foreign withholding taxes	245		147		134
Foreign other adjustments	(246)		—		951
GILTI	1,141		—		4,775
Addition of uncertain tax position reserves	(430)		11		58
Worthless stock deduction	—		—		(16,860)

State income taxes, net of federal benefit	(1,916)		37		(603)
Expiration of net operating loss	347,462		—		—
Deferred true-up	1,786		—		751
Other	198		—		(184)
Actual income tax (benefit) expense	$	(398)	$	1,630	$	11,388

Reconciliation of Beginning and Ending Balances of Total Amounts of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Balance as of beginning of year	$	571	$	2,140
Additions for current year tax positions	—		—
Currency translation	—		(4)
Reductions for lapses in statute of limitations	(297)		(67)
Reductions for member leaving consolidated group	—		(1,498)
Balance as of end of year	$	274	$	571

DEFINED BENEFIT PENSION PLANS

12 Months Ended

Jul. 31, 2023

Retirement Benefits [Abstract]

DEFINED BENEFIT PENSION PLANS

The Company sponsors two defined benefit pension plans covering certain of ModusLink's employees in its Netherlands facility and one unfunded defined benefit pension plan covering certain of its employees in Japan. Pension costs are actuarially determined. During the year ended July 31, 2020, the Netherlands defined benefit plan was amended so 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.

The plan assets of the two defined benefit plans associated with the ModusLink's Netherlands facility consist of an insurance contract that guarantees the payment of the funded pension entitlements. Insurance contract assets are recorded at fair value, which is determined based on the cash surrender value of the insured benefits which is the present value of the guaranteed funded benefits. Insurance contracts are valued using unobservable inputs, primarily by discounting expected future cash flows relating to benefits paid from a notional investment portfolio in order to determine the cash surrender value of the policy. The following table presents the plan assets measured at fair value on a recurring basis as of July 31, 2023 and 2022, classified by fair value hierarchy:


	Successor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	14,926	97	%	$	—	$	—	$	14,926
Other investments	388		3	%	—		—		388
	$	15,314	100	%	$	—	$	—	$	15,314


	Predecessor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2022		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	17,560	98	%	$	—	$	—	$	17,560
Other investments	416		2	%	—		—		416
	$	17,976	100	%	$	—	$	—	$	17,976

The following table summarizes the changes in benefit obligation, plan assets and funded status for these plans:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	21,103	$	33,584
Adjustment related to unconditional indexation of benefits	1,077		—
Service cost	10		11
Interest cost	679		462
Actuarial gain	(4,885)		(8,674)

Benefits and administrative expenses paid	(275)		(227)
Settlements	(109)		—

Currency translation	1,519		(4,053)
Benefit obligation at end of year	$	19,119	$	21,103

Change in plan assets
Fair value of plan assets at beginning of year	$	17,976	$	29,223
Actual return on plan assets	(3,759)		(7,544)
Employer contributions, net	225		5

Settlements	(108)		—
Benefits and administrative expenses paid	(275)		(227)
Currency translation	1,255		(3,481)
Fair value of plan assets at end of year	$	15,314	$	17,976

Funded status
Current liabilities	$	(9)	$	(11)
Noncurrent liabilities	(3,796)		(3,116)
Net amounts recognized on the consolidated balance sheets	$	(3,805)	$	(3,127)

As discussed above, 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. At that time, the active plan participants were moved into a new defined benefit contribution pension plan. During the fiscal year ended July 31, 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.

Additionally, as discussed in Note 3 - "Exchange Transaction", the defined benefit pension plan assets were remeasured at fair value as of the date of the Exchange Transaction, which resulted in a $0.5 million decrease to the pension liability, with the offset to goodwill. The incremental decrease of $36.2 thousand to the pension liability was booked to accumulated other comprehensive income in July 2023 based off of the fair value of the defined benefit pension plan assets as of July 31, 2023.

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Projected benefit obligation	$	19,119	$	21,103
Accumulated benefit obligation	$	19,119	$	21,103
Fair value of plan assets	$	15,314	$	17,976

The following table summarizes the components of net periodic pension cost:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Service cost	$	10	$	11
Interest costs	679		462
Expected return on plan assets	(574)		(407)
Amortization of net actuarial loss	9		4

Net periodic pension costs	$	124	$	70

Assumptions

The table below summarizes the weighted average assumptions used to determine benefit obligations:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Discount rate	4.21	%	2.96	%
Rate of compensation increase	—	%	—	%

The table below summarizes weighted average assumptions used to determine net periodic pension cost:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Discount rate	3.91	%	2.58	%
Expected long-term rate of return on plan assets	3.88	%	2.51	%
Rate of compensation increase	—	%	—	%

The discount rate reflects the Company's best estimate of the interest rate at which pension benefits could be effectively settled as of the valuation date. It is based on the Mercer Yield Curve for the Eurozone as of July 31, 2023 for the appropriate duration of the plan.

To develop the expected long-term rate of return on assets assumptions, consideration is given to the current level of expected returns on risk free investments, the historical level of risk premium associated with the other asset classes in which the portfolio is invested and the expectations for the future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets assumption for the portfolio.

Benefit Payments

The following table summarizes expected benefit payments from the plans through fiscal year 2032. Actual benefit payments may differ from expected benefit payments. The minimum employer required contributions to the plans are expected to be approximately $0.6 million in fiscal year 2024.


	Pension Benefit Payments
	(In thousands)
For the fiscal year ending July 31:
2024	$	340
2025	372
2026	463
2027	444
2028	509
Thereafter	3,451

The current target allocations for plan assets are primarily insurance contracts.

Valuation Technique

Benefit obligations are computed using the projected unit credit method. Benefits are attributed to service based on the plan's benefit formula. Cumulative gains and losses in excess of 10% of the greater of the pension benefit obligation or market-related value of plan assets are amortized over the expected average remaining lifetime of all inactive participants.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2023

Supplemental Cash Flow Elements [Abstract]

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

The amount of cash, cash equivalents and restricted cash as of July 31, 2023 and 2022 in the consolidated statements of cash flows is reconciled to the Company's consolidated balance sheets as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and cash equivalents	$	121,372	$	53,142
Funds held for clients	2,031		4,903
Cash, cash equivalents and restricted cash	$	123,403	$	58,045

Cash used for operating activities reflect cash payments for interest and income taxes as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
			(In thousands)
Cash paid for interest	$	9	$	1,145	$	1,237
Cash paid for income taxes	$	3,008	$	—	$	2,364

Cash paid for taxes can be lower than income tax expense as shown on the Company's consolidated statements of operations due to the timing of required payments in relation to recorded expense, which can cross fiscal years.

Non-Cash Activities

Non-cash investing activities during the Successor Period included $154.5 million for unsettled proceeds from the disposition of the Aerojet shares. The proceeds were received in August 2023.

Non-cash financing activities during the Successor Period included the issuance of $202.7 million of Series E Preferred Stock in exchange for 3.6 million shares of common stock, par value $0.10 per share, of Aerojet held by Steel Holdings in the Exchange Transaction. Additionally, non-cash financing activities during the fiscal years ended July 31, 2023 and 2022 included the issuance of approximately 0.1 million and 0.1 million shares, respectively, of non-vested common stock, valued at approximately $0.7 million and $0.7 million, respectively, to certain employees and non-employees of the Company. The Company also approved $57.4 thousand of accelerated compensation cost related to unvested shares that were approved to vest.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Schedule of Indefinite-Lived Intangible Assets (Details) $ in Thousands	Jul. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross (excluding goodwill)	$ 35,500
Accumulated Amortization	911
Total	34,589
Trade name
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	10,500
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	25,000
Accumulated Amortization	911
Net	$ 24,089

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	May 01, 2023	Apr. 30, 2023
Cash and Cash Equivalents [Line Items]
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	$ 237,739,000	$ 35,180,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01		$ 0.01
Issuance of nonvested common stock ( in shares)	0.1	0.1
Issuance of nonvested common stock, value	$ 700,000	$ 700,000
Share-based payment arrangement, accelerated cost	57,400
Aerojet Share
Cash and Cash Equivalents [Line Items]
Aerojet common stock proceeds receivable	154,500,000	0
Aerojet Share \| Exchange Transaction Agreement \| Steel Partners \| Exchanging Parties
Cash and Cash Equivalents [Line Items]
Common stock, shares exchanged (in shares)			3.6
Common stock, par value (in usd per share)			$ 0.10
Series E Contingently Redeemable Preferred Stock
Cash and Cash Equivalents [Line Items]
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	$ 202,733,000	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 1,180	$ 44	$ 49
Application of pushdown accounting(a)	(1,180)
Provisions charged to expense	219	1,136	0
Accounts written off	0	0
Recovered	0	0	(5)
Balance at end of period	$ 219	$ 1,180	$ 44

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2023	Jul. 31, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 2,565	$ 7,538	$ 9,973
Short-term lease expense	444	1,269	1,488
Sublease income	(171)	(786)	(748)
Variable lease cost	0	7	24
Interest on finance lease liabilities	0	0	3
Total lease cost	$ 2,838	$ 8,028	$ 10,740

NATURE OF OPERATIONS - (Detail) - USD ($)		12 Months Ended
NATURE OF OPERATIONS - (Detail) - USD ($)	Feb. 25, 2022	Jul. 31, 2023	Jun. 06, 2023	May 01, 2023	Apr. 30, 2023	Jul. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares issued (in shares)		0				0
Common stock, par value (in usd per share)		$ 0.01			$ 0.01	$ 0.01
Proceeds from divestiture of businesses	$ 0
SPLP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Investments				$ 202,733,000
Steel Partners Group \| Steel Connect, Inc. \| SPHG Holdings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method investment, ownership percentage					84.00%
Series E Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, convertible, shares issuable (in shares)			19,800,000
Aerojet Share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from divestiture of businesses		$ 53,300,000
Aerojet common stock proceeds receivable		154,500,000				$ 0
Proceeds from exchange transaction		$ 207,800,000
Exchange Transaction Agreement \| Steel Partners Group \| Series E Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares issued (in shares)				3,500,000	3,500,000

DEBT

12 Months Ended

Jul. 31, 2023

Debt Disclosure [Abstract]

DEBT

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


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	12,461	$	14,940

Credit Facilities

Umpqua Revolver	—		—
Less: unamortized discounts and issuance costs(a)(b)	—		(3,972)
Total debt, net	$	12,461	$	10,968

(a) As of May 1, 2023, the Company will account for the SPHG Note under the fair value option.

(b) Amounts include deferred debt issuance costs related to credit facilities of $79 thousand as of July 31, 2022, which are presented in 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 repaid an additional $1.0 million principal amount of the note 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 in the third quarter of fiscal 2023. 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 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 45.1356 shares of common stock, which is equivalent to an initial conversion price of approximately $22.16 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 July 31, 2023, the if-converted value of the SPHG Note did not exceed the principal value of the SPHG Note.

The below discusses the components of the SPHG Note as of July 31, 2023 and July 31, 2022:

On May 1, 2023, as a result of pushdown accounting related to the Exchange Transaction, the carrying value of the SPHG Note was remeasured to $13.0 million, which represents its fair value. As of May 1, 2023, the Company will now account for the SPHG Note under the fair value option in order to conform with Steel Holdings' basis of accounting, with changes in fair value recognized in earnings. Refer to Note 3 - "Exchange Transaction" and Note 23 - "Fair Value Measurements" for further information.

As of July 31, 2023, the principal amount of the SPHG note was $12.9 million. The fair value of the SPHG note was $12.5 million.

As of July 31, 2022, the principal amount of the SPHG note was $14.9 million and the net carrying value of the SPHG note was $11.0 million. As of July 31, 2022, the effective interest rate on the SPHG Note, including accretion of the discount, was 27.8%, which was the effective interest rate prior to the SPHG Note Amendment. The effective interest rate subsequent to the SPHG Note Amendment was 23.0%.


	Predecessor
	July 31, 2022

Carrying amount of equity component	$	8,200

Principal amount of note	$	14,940

Unamortized debt discount	(3,893)
Net carrying amount	$	11,047

Below is a reconciliation of interest expense related to the SPHG Note to total interest expense:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Interest expense related to contractual interest coupon on the SPHG Note	$	261	$	844	$	1,136
Interest expense related to accretion of the discount on the SPHG Note	—		1,688		1,704
Interest expense related to revolving credit facilities (see below)	—		36		212
Other	4		20		68
Total interest expense	$	265	$	2,588	$	3,120

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, there were $43.4 thousand of unamortized debt issuance costs recorded to other current assets, which were written off with the application of pushdown accounting. Refer to Note 3 - "Exchange Transaction" for further details.

As of July 31, 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 July 31, 2023, ModusLink had available borrowing capacity of $11.9 million and there was $0.6 million outstanding 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

DEFINED BENEFIT PENSION PLANS - Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Retirement Benefits [Abstract]
Projected benefit obligation	$ 19,119	$ 21,103
Accumulated benefit obligation	19,119	21,103
Fair value of plan assets	$ 15,314	$ 17,976

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Schedule of Goodwill (Details) - USD ($) $ in Thousands	Jul. 31, 2023	May 01, 2023	Apr. 30, 2023	Jul. 31, 2022
Goodwill [Line Items]
Goodwill	$ 22,785			$ 0
Supply Chain
Goodwill [Line Items]
Goodwill	22,785
Gross goodwill	22,785
Accumulated impairments	$ 0
SPLP
Goodwill [Line Items]
Goodwill		$ 22,785	$ 0
SPLP \| Supply Chain
Goodwill [Line Items]
Goodwill		$ 22,785

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation	$ 6,891	$ 5,099
Accrued audit, tax and legal	5,696	4,564
Accrued taxes	2,811	3,344
Accrued price concessions	2,981	4,549
Accrued occupancy costs	1,412	1,671
Accrued IT costs	831	1,108
Accrued other	6,152	8,061
Total accrued expenses	$ 26,774	$ 28,396

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Schedule of Estimated Future Amortization Expense of Intangible Assets (Detail) $ in Thousands	Jul. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 3,555
2025	3,571
2026	3,571
2027	3,571
2028	3,571
Thereafter	$ 6,250

INCOME TAXES - Components of Income Tax Expense from Operations (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Current (benefit) provision:
Federal	$ 72	$ 487	$ 0
State	(110)	48	429
Foreign	(110)	1,095	1,918
Current provision	(148)	1,630	2,347
Deferred (benefit) provision:
Federal	0	0	8,849
State	0	0	76
Foreign	(250)	0	116
Deferred provision	(250)
Deferred provision	(250)	0	9,041
Total tax (benefit) provision	$ (398)	$ 1,630	$ 11,388

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on Recurring Basis and Classified by Fair Value Hierarchy (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	$ 12,461
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	31,090	$ 31,756
Level 1 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	0
Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	31,090	31,756
Level 2 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	0
Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0
Level 3 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	12,461
Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 0	$ 0

RELATED PARTY TRANSACTIONS - Schedule Of Management Service Agreement Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Related Party \| Steel Services Ltd
Related Party Transaction [Line Items]
Management services agreement expenses	$ 617	$ 1,736	$ 3,008

EARNINGS (LOSS) PER SHARE

12 Months Ended

Jul. 31, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

Earnings (Loss) Per Share

As discussed in Note 2 - "Summary of Significant Accounting Policies", the Reverse/Forward Stock Split was effective on June 21, 2023. The Company’s shares of outstanding common stock and earnings (loss) per share amounts have been retroactively restated for all periods presented for the Reverse/Forward Stock Split. The following table reconciles net income (loss) per share for the periods below:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		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	$	8,149	$	7,460	$	(9,256)
Loss from discontinued operations	—		—		(1,712)
Net income (loss)	8,149		7,460		(10,968)
Less: Preferred dividends on Series C preferred stock	(537)		(1,593)		(2,129)
Net income (loss) available to common stockholders	7,612		5,867		(13,097)
Less: Undistributed earnings allocated to participating securities	(5,803)		—		—
Net income (loss) attributable to common stockholders	$	1,809	$	5,867	$	(13,097)

Effect of dilutive securities:
Dividends on Series C preferred stock	537		1,593		—
Undistributed earnings allocated to Series E preferred stock	5,803		—		—
Net income (loss) attributable to common stockholders - assuming dilution	$	8,149	$	7,460	$	(13,097)

Net income (loss) per common share - basic
Net income (loss) from continuing operations	$	0.29	$	0.91	$	(1.77)
Net loss from discontinued operations	—		—		(0.27)
Net income (loss) attributable to common stockholders	$	0.29	$	0.91	$	(2.04)

Net income (loss) per common share - diluted
Net income (loss) from continuing operations	$	0.29	$	0.89	$	(1.77)
Net loss from discontinued operations	—		—		(0.27)
Net income (loss) attributable to common stockholders	$	0.29	$	0.89	$	(2.04)

Weighted average common shares outstanding - basic	6,177		6,449		6,425
Effect of dilutive securities:
Common stock equivalents - Restricted stock and restricted stock shares	60		55		—
Common stock equivalents - Series C Preferred Stock	1,913		1,913		—
Common stock equivalents - Series E Preferred Stock	19,810		—		—
Weighted average common shares outstanding - diluted	27,960		8,417		6,425

As of July 31, 2023, the Company calculates basic and diluted net income (loss) per common share using the two-class method, as the Series E Convertible Preferred Stock issued in the Exchange Transaction meets the definition of a participating security. The two-class method is an allocation formula that determines net income (loss) per common share for each share of common stock and Series E Convertible Preferred Stock, a participating security, according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings (distributed and undistributed) are allocated to common shares and Series E Convertible Preferred Stock based on their respective rights to receive dividends. The holders of Series E Convertible Preferred Stock are entitled to participate equally and ratably with the holders of shares of Common Stock in all dividends or other distributions on the shares of Common Stock as if, immediately prior to each record date for payment of dividends or other distributions on the Common Stock, shares of Series E Preferred Stock then outstanding were converted into shares of Common Stock. Basic net income (loss) per common share is computed by dividing net income (loss) allocated to common stockholders for the period by the weighted average number of common shares outstanding for the period. Net income (loss) available to common stockholders for the period includes dividends paid to common stockholders during the period plus a proportionate share of undistributed net income (loss) allocable to common stockholders for the period; the proportionate share of undistributed net income allocable to common stockholders for the period is based on the proportionate

share of total weighted-average common shares and participating securities outstanding during the period. Diluted net income (loss) per common share is computed based on the weighted average number of shares of common stock outstanding during each period, plus potential common shares considered outstanding during the period, as long as the inclusion of such awards is not antidilutive. Potential common shares consist of restricted common stock (calculated based on the treasury stock method) and shares issuable upon debt or preferred stock conversion (calculated using an as-if converted method), using the more dilutive of either the two-class method or as-converted stock method.

The Company was not required to apply the two-class method during the Predecessor Period as there were no participating securities, and as such, there were no changes to the Predecessor Period other than the retroactive restatement for the Reverse/Forward Stock Split discussed previously.

For the fiscal year ended July 31, 2022 Predecessor Period during which the Company recorded a net loss, diluted net loss per share is equal to basic net loss per share because the effect of dilutive securities outstanding is anti-dilutive. The below details certain exclusions from the calculation of diluted net income per share for the May 1 to July 31, 2023 Successor Period and the August 1, 2022 to April 30, 2023 Predecessor Period as their inclusion would have been antidilutive:

For the May 1 to July 31, 2023 Successor Period, $0.2 million of interest expense, net of tax impact related to the SPHG Note was excluded from the numerator in the calculation of diluted net income per share as their inclusion would have been antidilutive.

For the August 1, 2022 to April 30, 2023 Predecessor Period, $2.3 million of interest expense, net of tax impact related to the SPHG Note were excluded from the numerator in the calculation of diluted net income per share as their inclusion would have been antidilutive.

For the May 1 to July 31, 2023 Successor Period, 0.6 million common stock equivalent shares (including those related to the SPHG Note) were excluded from the denominator in the calculation of diluted net income per share as their inclusion would have been antidilutive.

For the August 1, 2022 to April 30, 2023 Predecessor Period, 0.6 million common stock equivalent shares (including those related to the SPHG Note) were excluded from the denominator in the calculation of diluted net income per share as their inclusion would have been antidilutive.

SEGMENT INFORMATION - Total Assets of Continuing Operations (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 411,181	$ 137,749
Corporate-level activity
Segment Reporting Information [Line Items]
Total assets	264,567	36,112
Supply Chain \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 146,614	$ 101,637

- 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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-Topic 810
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+ Details

REVENUE RECOGNITION - Summary of Changes in Deferred Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Change in Deferred Revenue
Balance at beginning of period	$ 3,073	$ 2,839	$ 2,320
Deferral of revenue	245	1,595	2,368
Recognition of deferred amounts upon satisfaction of performance obligation	(600)	(1,361)	(1,849)
Balance at end of period	$ 2,718	$ 3,073	$ 2,839

RESTRUCTURING ACTIVITIES (Tables)

12 Months Ended

Jul. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

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


	Successor	Predecessor
	May 1 to July 31,	August 1, 2022 to April 30,	Fiscal Year Ended July 31,
(in thousands)	2023	2023	2022
Cost of revenue	(62)	97	$	1,200
Selling, general and administrative	—	—	313
	(62)	97	$	1,513

Changes to the restructuring liability during the fiscal year ended July 31, 2023 were as follows:


	(in thousands)
Balance as of July 31, 2022	$	892
Costs incurred	35
Cash payments	(925)
Change in estimates	(2)
Balance as of July 31, 2023	$	—

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Jul. 31, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) represents the cumulative other comprehensive income (loss) items that are reported separate from net income and detailed on the Consolidated Statements of Comprehensive Income (Loss).

As discussed in Note 1, "Nature of Operations", we have elected to apply push-down accounting as of the Exchange Transaction date, May 1, 2023. As part of this election, the Company's accumulated other comprehensive income (loss) was reset to zero at the Exchange Transaction date.

The components of accumulated other comprehensive income, net of income taxes, are as follows:


	Foreign currency items		Pension items		Total
	(In thousands)
Accumulated other comprehensive income (loss) at July 31, 2021 (Predecessor)	$	9,762	$	(2,600)	$	7,162
Foreign currency translation adjustment	(3,699)		—		(3,699)
Pension liability adjustments	—		677		677
Net current-period other comprehensive (loss) income	(3,699)		677		(3,022)
Accumulated other comprehensive income (loss) at July 31, 2022 (Predecessor)	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 (loss)	999		(1,078)		(79)
Accumulated other comprehensive income (loss) at April 30, 2023 (Predecessor)	7,062		(3,001)		4,061
Application of pushdown accounting	(7,062)		3,001		(4,061)
Accumulated other comprehensive income (loss) at May 1, 2023 (Successor)	—		—		—
Foreign currency translation adjustment	(623)		—		(623)
Pension liability adjustments	—		36		36
Net current-period other comprehensive (loss) income	(623)		36		(587)
Accumulated other comprehensive income (loss) at July 31, 2023 (Successor)	$	(623)	$	36	$	(587)

In both the fiscal years ended July 31, 2023 and 2022, the Company recorded an immaterial amount in taxes related to other comprehensive income (loss).

DEFINED BENEFIT PENSION PLANS - Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost (Detail)	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Retirement Benefits [Abstract]
Discount rate	3.91%	2.58%
Expected long-term rate of return on plan assets	3.88%	2.51%
Rate of compensation increase	0.00%	0.00%

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION (Tables)

12 Months Ended

Jul. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and bank deposits	$	90,282	$	21,386
Money market funds	31,090		31,756
	$	121,372	$	53,142


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and cash equivalents	$	121,372	$	53,142
Funds held for clients	2,031		4,903
Cash, cash equivalents and restricted cash	$	123,403	$	58,045

Schedule of Restrictions on Cash and Cash Equivalents


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and cash equivalents	$	121,372	$	53,142
Funds held for clients	2,031		4,903
Cash, cash equivalents and restricted cash	$	123,403	$	58,045

Schedule of Cash Flow, Supplemental Disclosure

Cash used for operating activities reflect cash payments for interest and income taxes as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
			(In thousands)
Cash paid for interest	$	9	$	1,145	$	1,237
Cash paid for income taxes	$	3,008	$	—	$	2,364

EXCHANGE TRANSACTION (Tables)

12 Months Ended

Jul. 31, 2023

Schedule of Exchange Transaction Consideration

The following table summarizes the total Exchange Transaction consideration:


(in thousands)	May 1, 2023
Fair value of Aerojet common stock	$	202,733
Fair value of Steel Holdings' previously held interests in Steel Connect and Steel Holdings' noncontrolling interest	111,816
Less: cash acquired from Steel Connect	(65,896)
Total estimated consideration, less cash acquired	$	248,653

Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

The following represents the preliminary calculation of goodwill and fair value amounts recognized:


(in thousands)	May 1, 2023
Assets
Accounts receivable, trade	$	36,900
Inventories, net	6,900
Prepaid expenses and other current assets	4,957
Other intangible assets	35,500
Other assets	3,900
Property and equipment, net	3,400
Operating lease right-of-use assets	29,250
Investments	202,733
Estimated fair value of total assets acquired by Steel Holdings	323,540
Liabilities
Accounts payable	26,300
Accrued expenses	29,100
Current lease obligations	7,994
Other current liabilities	7,236
Long-term lease obligations	21,300
Other long-term liabilities	5,742
Estimated fair value of total liabilities assumed by Steel Holdings	97,672
Fair value of identifiable net assets	225,868
Goodwill attributable to Steel Connect	$	22,785

Summary of Pushdown Accounting

The following table summarizes the significant adjustments recognized by the Company as of the Exchange date for each major class of assets and liabilities as a result of pushdown accounting:


	Exchange Date Carrying Value		Adjustments	Exchange Date Fair Value
(in thousands)
Goodwill	$	—	22,785	$	22,785
Other intangible assets	$	—	35,500	$	35,500

Operating lease right-of-use assets	$	28,900	350	$	29,250
Prepaid and other current assets	$	5,000	(43)	$	4,957
Convertible note payable	$	(11,586)	(1,420)	$	(13,006)
Other current liabilities	$	(16,671)	9,435	$	(7,236)
Other long-term liabilities	$	(5,500)	(242)	$	(5,742)

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Exchange Transaction

The estimated fair value and estimated remaining useful lives of identifiable intangible assets as of the Exchange Transaction date were as follows:


(in thousands)	Useful Life (Years)	Amount
Customer relationships	7	$	25,000
Trade name	Indefinite	10,500
Estimated fair value of identifiable intangible assets		$	35,500

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Accounting Policies [Abstract]
Cash and bank deposits	$ 90,282	$ 21,386
Money market funds	31,090	31,756
Cash and cash equivalents	$ 121,372	$ 53,142

RELATED PARTY TRANSACTIONS - Additional Information (Detail) $ in Thousands, shares in Millions			3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2023 corporateEntity	Mar. 09, 2023 USD ($)	Jul. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)	Apr. 30, 2023 USD ($) corporateEntity	Apr. 30, 2022 USD ($)	Jul. 31, 2023 USD ($) shares	Jul. 31, 2022 USD ($)	May 01, 2023 director	Feb. 28, 2019 USD ($)
Related Party Transaction [Line Items]
Total debt, net			$ 12,461	$ 12,461			$ 12,461	$ 10,968
Accretion of debt discount				265			$ 2,588	3,120
Redeemable preferred stock dividends			537	537	$ 1,593			2,129
Ownership percentage, prior approval of equity securities, threshold percentage	49.60%				49.60%
Series E Contingently Redeemable Preferred Stock \| Steel Partners Group
Related Party Transaction [Line Items]
Conversion of stock, shares converted (in shares) \| shares							3.5
Stockholders' Agreement
Related Party Transaction [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%				100.00%
Management Services Agreement \| SP Corporate Services Llc and Steel Services Limited
Related Party Transaction [Line Items]
Other receivables, net, current			700	700			$ 700	1,000
SPHG Holdings \| Purchase Agreement \| Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Redeemable preferred stock dividends							2,100	2,100
7.50% Convertible Senior Note due September 1, 2024 \| Steel Holdings
Related Party Transaction [Line Items]
Principal amount of note										$ 14,900
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Holdings
Related Party Transaction [Line Items]
Principal amount of note			12,900	12,900			12,900	14,940
Debt instrument stated percentage										7.50%
Debt instrument, repaid, principal		$ 1,000
Debt instrument, periodic payment, principal		1,000
Long-term debt, cash amendment fee amount		100
Long-term debt, derecognized debt discount amount		$ 200
Total debt, net			$ 12,500	$ 12,500			12,500	11,047
Accretion of debt discount						$ 2,500	$ 300	$ 2,800
Convertible Senior Unsecured Note \| SPHG Holdings
Related Party Transaction [Line Items]
Debt instrument stated percentage										7.50%
SPHG Holdings, Steel Holdings, HNH And SPL \| 5.25% Convertible Senior Notes \| Steel Holdings
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			85.90%	85.90%			85.90%
Steel Connect, Inc. \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	50.00%				50.00%
Steel Connect, Inc. \| SP Group \| Stockholders' Agreement \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Ownership percentage, prior approval required for transfer of equity interests, threshold percentage	80.00%				80.00%
Number of corporate entity \| corporateEntity	1				1

INCOME TAXES - Difference of Income Tax Expense Attributable to Income from Continuing Operations and Expense Computed using U.S. Federal Income Tax (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Computed "expected" income tax expense (benefit)	$ 1,627	$ 1,909	$ 448
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	(350,469)	(424)	21,703
Foreign tax rate differential	(255)	(50)	56
Nondeductible expenses	459	0	159
Foreign withholding taxes	245	147	134
Foreign other adjustments	(246)	0	951
Tax basis in excess of financial basis for intangible and fixed assets	1,141	0	4,775
Addition of uncertain tax position reserves	(430)	11	58
Worthless stock deduction	0	0	(16,860)
State income taxes, net of federal benefit	(1,916)	37	(603)
Expiration of net operating loss	347,462	0	0
Deferred true-up	1,786	0	751
Other	198	0	(184)
Total tax (benefit) provision	$ (398)	$ 1,630	$ 11,388

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jul. 31, 2023

Fair Value Disclosures [Abstract]

Financial Assets Measured at Fair Value on Recurring Basis and Classified by Fair Value Hierarchy

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


	Successor		Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds	$	31,090	$	31,090	$	—	$	—

Liabilities:
SPHG Note	$	12,461	$	—	$	—	$	12,461


	Predecessor		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	$	—	$	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Following is a summary of changes in the SPHG Note measured using Level 3 inputs:


Balance as of May 1, 2023 (Successor):	$	13,006
Principal repayment	(1,000)
Unrealized losses	455
Balance as of July 31, 2023 (Successor)	$	12,461

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 911	$ 0	$ 0
Amortization of intangible assets	$ 911	$ 0	$ 0

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022	Aug. 01, 2021
Payables and Accruals [Abstract]
Accrued pricing liabilities	$ 0	$ 9,435
Deferred revenue - current	2,574	2,705	$ 2,212
Other	1,970	1,342
Total other current liabilities	$ 4,544	$ 13,482

LEASES (Tables)

12 Months Ended

Jul. 31, 2023

Leases [Abstract]

Lease Cost

The components of the Company's lease expense are presented below:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Operating lease cost	$	2,565	$	7,538	$	9,973
Short-term lease expense	444		1,269		1,488
Sublease income	(171)		(786)		(748)
Variable lease cost	—		7		24

Interest on finance lease liabilities	—		—		3
	$	2,838	$	8,028	$	10,740

Supplemental cash flow information related to the cash paid for amounts included in measurement of lease liabilities during the fiscal year ended July 31, 2023 and 2022 was as follows:


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Operating cash flows from operating leases	$	2,494	$	7,224	$	9,653
Operating cash flows from finance leases	$	—	$	—	$	3
Financing cash flows from finance leases	$	—	$	38	$	73

Future Minimum Lease Payments Under Operating Leases

The Company's future minimum lease payments required under operating leases that have commenced as of July 31, 2023 were as follows:


	Operating Leases
	(In thousands)
2024	$	9,256
2025	8,054
2026	5,630
2027	4,298
2028	2,088
Thereafter	544
Total lease payments	29,870
Less: imputed interest	2,736
Present value of lease payments	27,134
Less: current lease obligations	7,973
Long-term lease obligations	$	19,161

Future Minimum Lease Payments Under Financing Leases

The Company's future minimum lease payments required under operating leases that have commenced as of July 31, 2023 were as follows:


	Operating Leases
	(In thousands)
2024	$	9,256
2025	8,054
2026	5,630
2027	4,298
2028	2,088
Thereafter	544
Total lease payments	29,870
Less: imputed interest	2,736
Present value of lease payments	27,134
Less: current lease obligations	7,973
Long-term lease obligations	$	19,161

Additional Lease Information

Additional information related to the Company's leases as of July 31, 2023 was as follows:


Weighted average remaining lease term:
Operating leases	3.7	years


Weighted average discount rate:
Operating leases		5.2%

OTHER GAINS, NET

12 Months Ended

Jul. 31, 2023

Other Income and Expenses [Abstract]

OTHER GAINS, NET

The following table presents the components of "Other gains, net":


	Successor		Predecessor
	May 1 to July 31,		August 1, 2022 to April 30,		Fiscal Year Ended July 31,
	2023		2023		2022
	(In thousands)
Foreign currency exchange gains (losses), net	$	446	$	(510)	$	2,389
Derecognition of accrued pricing liabilities(a)	—		—		860

Other gains, net	5,242		4,471		782
	$	5,688	$	3,961	$	4,031

(a) Refer to Note 3 - "Exchange Transaction" and Note 9 - "Accrued Expenses and Other Current Liabilities" for information on the derecognition of the accrued pricing liabilities.

Other gains, net for the May 1 to July 31, 2023 Successor Period is primarily made up of $5.1 million realized gains recognized on the disposition of the Aerojet shares. See Note 3 - "Exchange Transaction" for more information. Other gains, net for the August 1, 2022 to April 30, 2023 Predecessor Period was primarily due to: (1) $1.9 million gain from proceeds received from the sale of an investment in Tallan, Inc., (2) $1.4 million settlement with a client, and (3) $0.9 million interest income.

DEFINED BENEFIT PENSION PLANS (Tables)

12 Months Ended

Jul. 31, 2023

Retirement Benefits [Abstract]

Plan Assets Measured at Fair Value on Recurring Basis Classified by Fair Value Hierarchy

The following table presents the plan assets measured at fair value on a recurring basis as of July 31, 2023 and 2022, classified by fair value hierarchy:


	Successor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	14,926	97	%	$	—	$	—	$	14,926
Other investments	388		3	%	—		—		388
	$	15,314	100	%	$	—	$	—	$	15,314


	Predecessor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2022		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	17,560	98	%	$	—	$	—	$	17,560
Other investments	416		2	%	—		—		416
	$	17,976	100	%	$	—	$	—	$	17,976

Aggregate Change in Benefit Obligation and Plan Assets

The following table summarizes the changes in benefit obligation, plan assets and funded status for these plans:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	21,103	$	33,584
Adjustment related to unconditional indexation of benefits	1,077		—
Service cost	10		11
Interest cost	679		462
Actuarial gain	(4,885)		(8,674)

Benefits and administrative expenses paid	(275)		(227)
Settlements	(109)		—

Currency translation	1,519		(4,053)
Benefit obligation at end of year	$	19,119	$	21,103

Change in plan assets
Fair value of plan assets at beginning of year	$	17,976	$	29,223
Actual return on plan assets	(3,759)		(7,544)
Employer contributions, net	225		5

Settlements	(108)		—
Benefits and administrative expenses paid	(275)		(227)
Currency translation	1,255		(3,481)
Fair value of plan assets at end of year	$	15,314	$	17,976

Funded status
Current liabilities	$	(9)	$	(11)
Noncurrent liabilities	(3,796)		(3,116)
Net amounts recognized on the consolidated balance sheets	$	(3,805)	$	(3,127)

Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Projected benefit obligation	$	19,119	$	21,103
Accumulated benefit obligation	$	19,119	$	21,103
Fair value of plan assets	$	15,314	$	17,976

Components of Net Periodic Pension Cost

The following table summarizes the components of net periodic pension cost:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Service cost	$	10	$	11
Interest costs	679		462
Expected return on plan assets	(574)		(407)
Amortization of net actuarial loss	9		4

Net periodic pension costs	$	124	$	70

Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost

The table below summarizes the weighted average assumptions used to determine benefit obligations:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Discount rate	4.21	%	2.96	%
Rate of compensation increase	—	%	—	%

The table below summarizes weighted average assumptions used to determine net periodic pension cost:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
Discount rate	3.91	%	2.58	%
Expected long-term rate of return on plan assets	3.88	%	2.51	%
Rate of compensation increase	—	%	—	%

Summary of Expected Benefit Payments from the Plans through Fiscal 2026


	Pension Benefit Payments
	(In thousands)
For the fiscal year ending July 31:
2024	$	340
2025	372
2026	463
2027	444
2028	509
Thereafter	3,451

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Accounts receivable, trade, allowance for doubtful accounts	$ 219	$ 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)	6,250,493	6,485,309
Common stock, shares outstanding (in shares)	6,250,493	6,485,309
Other intangible assets, net	$ 34,589	$ 0
Series C Contingently Redeemable 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
Series E Contingently Redeemable Preferred Stock
Preferred stock, par value (in usd per share)	$ 0.01
Preferred stock, shares authorized (in shares)	3,500,000
Preferred stock, shares issued (in shares)	3,500,000
Preferred stock, shares outstanding (in shares)	3,500,000

INCOME TAXES - Reconciliation of Beginning and Ending Balances of Total Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2023	Jul. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of beginning of year	$ 571	$ 2,140
Additions for current year tax positions	0	0
Currency translation	0	(4)
Reductions for lapses in statute of limitations	(297)	(67)
Reductions for member leaving consolidated group	0	(1,498)
Balance as of end of year	$ 274	$ 571

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jul. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment at Cost

Property and equipment at cost, consists of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Machinery and equipment	1,388		12,632
Leasehold improvements	606		9,994
Software	1,133		34,161
Computer hardware	400		5,317
Other	627		2,475
	4,154		64,579
Less: accumulated depreciation and amortization	(456)		(61,045)
Property and equipment, net	$	3,698	$	3,534

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022
Payables and Accruals [Abstract]
Accrued pricing liabilities	$ 0	$ 9,435

DEFINED BENEFIT PENSION PLANS - Schedule of Defined Benefit Plan Assets Fair Value Measurements (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 15,314	$ 17,976	$ 29,223
Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 15,314	$ 17,976
Asset Allocations	100.00%	100.00%
Fair Value, Measurements, Recurring \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0
Fair Value, Measurements, Recurring \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	15,314	17,976
Fair Value, Measurements, Recurring \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 14,926	$ 17,560
Asset Allocations	97.00%	98.00%
Fair Value, Measurements, Recurring \| Insurance contract \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0
Fair Value, Measurements, Recurring \| Insurance contract \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Insurance contract \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	14,926	17,560
Fair Value, Measurements, Recurring \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 388	$ 416
Asset Allocations	3.00%	2.00%
Fair Value, Measurements, Recurring \| Other investments \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0
Fair Value, Measurements, Recurring \| Other investments \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Fair Value, Measurements, Recurring \| Other investments \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 388	$ 416

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

INVENTORIES

12 Months Ended

Jul. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

Inventories, net consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Raw materials	$	4,805	$	7,330
Work-in-process	239		124
Finished goods	3,525		697
	$	8,569	$	8,151

DEBT - Additional Information (Details)			12 Months Ended
DEBT - Additional Information (Details)	Mar. 09, 2023 USD ($)	Feb. 28, 2019 USD ($) $ / shares	Jul. 31, 2023 USD ($)	Jul. 31, 2022 USD ($)	May 01, 2023 USD ($)	Mar. 13, 2023 USD ($)	Mar. 16, 2022 USD ($)
Debt Instrument [Line Items]
Issuance of nonvested common stock, value			$ 700,000	$ 700,000
Application of pushdown accounting					$ 13,000,000.0
Convertible Senior Note			12,461,000	11,047,000
Total debt, net			12,461,000	10,968,000
Umpqua Revolver
Debt Instrument [Line Items]
Line of credit facility, maximum credit commitment							$ 12,500,000
Line of credit facility, sublimit borrowing capacity							5,000,000
Unamortized debt issuance expense						$ 43,400
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]
Issuance of nonvested common stock, value		$ 1,000
Conversion ratio (shares)		0.451356
Initial conversion price (in usd per share) \| $ / shares		$ 22.16
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Holdings
Debt Instrument [Line Items]
Debt instrument stated percentage		7.50%
Principal amount of note			12,900,000	14,940,000
Debt instrument, repaid, principal	$ 1,000,000
Debt instrument, periodic payment, principal	1,000,000
Long-term debt, cash amendment fee amount	100,000
Long-term debt, derecognized debt discount amount	$ 200,000
Total debt, net			$ 12,500,000	$ 11,047,000
Debt instrument, interest rate, effective percentage	23.00%			27.80%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 31, 2023

Accounting Policies [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The allowance for expected credit losses consisted of the following:


	Successor		Predecessor
	May 1 to July 31, 2023		August 1, 2022 to April 30, 2023		July 31, 2022
	(In thousands)
Balance at beginning of period	$	1,180	$	44	$	49
Application of pushdown accounting(a)	(1,180)		—		—
Provisions charged to expense	219		1,136		—
Accounts written off	—		—
Recovered	—		—		(5)
Balance at end of period	$	219	$	1,180	$	44

(a) As part of pushdown accounting, the allowance for expected credit losses balance was eliminated to establish the new cost basis in the Company's accounts receivables as of May 1, 2023.

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following:


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and bank deposits	$	90,282	$	21,386
Money market funds	31,090		31,756
	$	121,372	$	53,142


	Successor		Predecessor
	July 31, 2023		July 31, 2022
	(In thousands)
Cash and cash equivalents	$	121,372	$	53,142
Funds held for clients	2,031		4,903
Cash, cash equivalents and restricted cash	$	123,403	$	58,045

Estimated Useful Lives of Property and Equipment

The estimated useful lives are as follows:


Category						Useful Lives

Machinery and equipment						5 years
Leasehold improvements						Shorter of the lease term or the estimated useful life of the asset
Software						5 years
Computer hardware						3 years
Other						5 years

EXCHANGE TRANSACTION - Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jul. 31, 2023	May 01, 2023	Apr. 30, 2023	Jul. 31, 2022
Related Party Transaction [Line Items]
Goodwill	$ 22,785			$ 0
SPLP
Related Party Transaction [Line Items]
Accounts receivable, trade		$ 36,900
Inventories, net		6,900
Prepaid expenses and other current assets		4,957
Other intangible assets		35,500
Other assets		3,900
Property and equipment, net		3,400
Operating lease right-of-use assets		29,250
Investments		202,733
Estimated fair value of total assets acquired by Steel Holdings		323,540
Accounts payable		26,300
Accrued expenses		29,100
Current lease obligations		7,994
Other current liabilities		7,236
Long-term lease obligations		21,300
Other long-term liabilities		5,742
Estimated fair value of total liabilities assumed by Steel Holdings		97,672
Fair value of identifiable net assets		225,868
Goodwill		$ 22,785	$ 0

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

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Jul. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income, Net of Income Taxes

The components of accumulated other comprehensive income, net of income taxes, are as follows:


	Foreign currency items		Pension items		Total
	(In thousands)
Accumulated other comprehensive income (loss) at July 31, 2021 (Predecessor)	$	9,762	$	(2,600)	$	7,162
Foreign currency translation adjustment	(3,699)		—		(3,699)
Pension liability adjustments	—		677		677
Net current-period other comprehensive (loss) income	(3,699)		677		(3,022)
Accumulated other comprehensive income (loss) at July 31, 2022 (Predecessor)	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 (loss)	999		(1,078)		(79)
Accumulated other comprehensive income (loss) at April 30, 2023 (Predecessor)	7,062		(3,001)		4,061
Application of pushdown accounting	(7,062)		3,001		(4,061)
Accumulated other comprehensive income (loss) at May 1, 2023 (Successor)	—		—		—
Foreign currency translation adjustment	(623)		—		(623)
Pension liability adjustments	—		36		36
Net current-period other comprehensive (loss) income	(623)		36		(587)
Accumulated other comprehensive income (loss) at July 31, 2023 (Successor)	$	(623)	$	36	$	(587)

LEASES - Narrative (Details)	12 Months Ended
LEASES - Narrative (Details)	Jul. 31, 2023
Leases [Abstract]
Remaining lease term	6 years