0001628280-24-045740 | 10-K | XBRL Viewer

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Jul. 31, 2024

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


	Supply Chain
(in thousands)
Balance at July 31, 2023 (Successor)
Gross goodwill	$	22,785
Accumulated impairments	—
Net goodwill	$	22,785
Balance at July 31, 2024 (Successor)
Gross goodwill	$	22,785
Accumulated impairments	—
Pushdown accounting adjustment	(3,082)
Net goodwill	$	19,703

The Company’s annual impairment test date is June 1st each year. For the fiscal year ended July 31, 2024, the Company utilized a quantitative approach for its single reporting unit. The assessment was based on a combination of income and market approaches to estimate the fair value of the reporting unit, which indicated that the fair value of the reporting unit exceeded its respective carrying value. Significant assumptions used in the discounted cash flow analysis included expected future earnings and cash flows, which are based on management's current expectations, as well as the related risk-adjusted discount rate used to estimate fair value. There were no goodwill impairment charges recorded as a result of this assessment. At July 31, 2024, the goodwill related to the Supply Chain reporting unit is at risk of future impairment if the fair value of this reporting unit, and its associated assets, decrease in value due to the amount and timing of expected future cash flows, decreased customer demand for Supply Chains' services, an inability to execute management’s business strategies, or general market conditions, such as economic downturns, and changes in interest rates, including discount rates. Future cash flow estimates are, by their nature, subjective, and actual results may differ materially from the Company's estimates. If the Company's ongoing cash flow

projections are not met or if market factors utilized in the impairment test deteriorate, including an unfavorable change in the terminal growth rate or the weighted-average cost of capital, the Company may have to record impairment charges in future periods. As of July 31, 2024 the Supply Chain reporting unit had $19.7 million of goodwill and its fair value exceeded its net book value by 12%.

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


	Successor
	July 31, 2024						July 31, 2023
	(in thousands)
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	25,000	$	4,464	$	20,536	$	25,000	$	911	$	24,089
Trade name	10,500		—		10,500		10,500		—		10,500
Total	$	35,500	$	4,464	$	31,036	$	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 $3.6 million and $0.9 million for the fiscal years ended July 31, 2024 and 2023, respectively.

For the fiscal year ended July 31, 2024, the Company applied the relief-from-royalty method under the income approach to value the trade name indefinite-lived intangible asset. Significant assumptions used included the amount and timing of projected revenues, growth rates, royalty rates, discount rates, and tax amortization benefit. There were no impairment charges recorded as a result of this assessment. At July 31, 2024, the trade name indefinite-lived intangible asset is at risk of future impairment if the fair value of the trade name decreases in value due to unfavorable changes in the weighted-average cost of capital, revenue growth rates, or royalty rates. As of July 31, 2024 the trade name indefinite-lived intangible asset's fair value exceeded its net book value by 10%.

Based on gross carrying amounts at July 31, 2024, the Company's estimate of amortization expense for each of the five succeeding years and thereafter is as follows:


	Fiscal Year Ending July 31,
	2025		2026		2027		2028		2029		Thereafter
	(In thousands)
Estimated amortization expense	$	3,571	$	3,571	$	3,571	$	3,571	$	3,571	$	2,681

LEASES - Lease Information (Details)	Jul. 31, 2024	Jul. 31, 2023
Weighted average remaining lease term:
Operating leases	2 years 10 months 24 days
Weighted average discount rate:
Operating leases	5.50%	5.20%

SHARE-BASED PAYMENTS

12 Months Ended

Jul. 31, 2024

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, 2024, 739,265 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, 2024 and 2023, 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 428,571 restricted stock grants and 160,714 market based restricted stock grants to non-employee directors of the Company. The 428,571 restricted stock vested immediately on the grant date. The 160,714 market based restricted stock grants do not expire and vest upon the attainment of target stock price hurdles. As of July 31, 2020, 107,142 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 12 - "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 initial settlement of the Reith v. Lichtenstein, et al., C.A. No. 2018-0277-MTZ (Del. Ch. 2018) class and derivative action. Under the initial memorandum of understanding and separate letter agreements between the Company and the non-employee directors, such individuals agreed to surrender to the Company an aggregate 353,571 shares that they had initially received in December 2017 in consideration for services to the Company. As of December 31, 2021, the non-employee directors had surrendered to the Company an aggregate 353,571 shares.

For the fiscal year ended July 31, 2024, $0.6 million of share-based compensation expense was recorded in SG&A expenses in the consolidated statements of operations.

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, $0.5 million 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, 2024 and 2023 was $0.6 million and $0.8 million, respectively.

A summary of the activity of the Company's restricted stock for the fiscal year ended July 31, 2024, is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
	(Share amounts in thousands)
Nonvested stock outstanding, July 31, 2023	54	$	10.97
Granted	70	10.43
Vested	(55)	10.97
Forfeited	—	—
Nonvested stock outstanding, July 31, 2024	69	$	10.43

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, 2024 and 2023 was approximately $0.6 million and $0.8 million, respectively. As of July 31, 2024, there was approximately $0.4 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 may offer 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, 2024 and 2023, the Company issued zero shares under the ESPP. Approximately 8,284 shares are available for future issuance as of July 31, 2024.

EARNINGS PER SHARE - Narrative (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 (Tables)

12 Months Ended

Jul. 31, 2024

Supplemental Cash Flow Elements [Abstract]

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and bank deposits	$	13,393	$	36,103
Money market funds	235,221		85,269
	$	248,614	$	121,372

The amount of cash, cash equivalents and restricted cash as of July 31, 2024 and 2023 in the consolidated statements of cash flows is reconciled to the Company's consolidated balance sheets as follows:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and cash equivalents	$	248,614	$	121,372
Funds held for clients	2,576		2,031
Cash, cash equivalents and restricted cash	$	251,190	$	123,403

Schedule of Restrictions on Cash and Cash Equivalents


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and cash equivalents	$	248,614	$	121,372
Funds held for clients	2,576		2,031
Cash, cash equivalents and restricted cash	$	251,190	$	123,403

Schedule of Cash Flow, Supplemental Disclosure

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Cash paid for interest	$	1,009	$	9	$	1,145
Cash paid for income taxes	$	2,204	$	3,008	$	—

REVENUE RECOGNITION REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Apr. 30, 2023	Aug. 01, 2022	Jul. 31, 2022
Disaggregation of Revenue [Line Items]
Contract assets	$ 275	$ 439		$ 369
Deferred revenue - current	2,271	2,574		2,705
Deferred revenue - long-term	54	144		134
Total deferred revenue	2,325	2,718	$ 3,073	2,839	$ 2,839
Trade Accounts Receivable
Disaggregation of Revenue [Line Items]
Accounts receivable, trade, net	$ 33,443	$ 28,616		$ 40,083

- 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 - Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 1,180	$ 44	$ 219
Application of pushdown accounting(a)	(1,180)
Provisions charged to expense	219	1,136	0
Recovered	0	0	(46)
Foreign currency impact	0	0	(4)
Balance at end of period	$ 219	$ 1,180	$ 169

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Aug. 01, 2022
Payables and Accruals [Abstract]
Deferred revenue - current	$ 2,271	$ 2,574	$ 2,705
Other	2,152	1,970
Total other current liabilities	$ 4,423	$ 4,544

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Reconciliation of Cash (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 248,614	$ 121,372
Funds held for clients	2,576	2,031
Cash, cash equivalents and restricted cash	$ 251,190	$ 123,403	$ 65,896	$ 58,045

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, 2024
Statement of Comprehensive Income [Abstract]
Net income	$ 8,149	$ 7,460	$ 87,980
Other comprehensive (loss) income:
Foreign currency translation adjustment	(623)	999	(476)
Pension liability adjustments, net of tax	36	(1,078)	(444)
Other comprehensive loss	(587)	(79)	(920)
Comprehensive income	$ 7,562	$ 7,381	$ 87,060

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

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+ Details

DEFINED BENEFIT PENSION PLANS

12 Months Ended

Jul. 31, 2024

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 previously sponsored one unfunded defined benefit pension plan covering certain of its employees in Japan, which was terminated during the fiscal year ended July 31, 2024 as part of ceasing operations 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, 2024 and 2023, classified by fair value hierarchy:


	Successor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2024		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	17,516	98	%	$	—	$	—	$	17,516
Other investments	443		2	%	—		—		443
	$	17,959	100	%	$	—	$	—	$	17,959


	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

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


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	19,119	$	21,103
Adjustment related to unconditional indexation of benefits	—		1,077
Adjustment for termination of Japan pension plan	(227)		—
Service cost	—		10
Interest cost	789		679
Actuarial gain (loss)	2,941		(4,885)

Benefits and administrative expenses paid	(329)		(275)
Settlements	—		(109)

Currency translation	(364)		1,519
Benefit obligation at end of year	$	21,929	$	19,119

Change in plan assets
Fair value of plan assets at beginning of year	$	15,314	$	17,976
Actual return on plan assets	3,141		(3,759)
Employer contributions, net	130		225

Settlements	—		(108)
Benefits and administrative expenses paid	(329)		(275)
Currency translation	(297)		1,255
Fair value of plan assets at end of year	$	17,959	$	15,314

Funded status
Current liabilities	$	—	$	(9)
Noncurrent liabilities	(3,970)		(3,796)
Net amounts recognized on the consolidated balance sheets	$	(3,970)	$	(3,805)

The funded status for these plans is recorded to "Other long-term liabilities" on the consolidated balance sheets.

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", as a result of pushdown accounting, 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
	July 31, 2024		July 31, 2023
	(In thousands)
Projected benefit obligation	$	21,929	$	19,119
Accumulated benefit obligation	$	21,929	$	19,119
Fair value of plan assets	$	17,959	$	15,314

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


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Service cost	$	—	$	10
Interest costs	789		679
Expected return on plan assets	(652)		(574)
Amortization of net actuarial loss	6		9

Net periodic pension costs	$	143	$	124

Assumptions

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


	Successor
	July 31, 2024		July 31, 2023
Discount rate	3.50	%	4.21	%
Rate of compensation increase	—	%	—	%

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


	Successor
	July 31, 2024		July 31, 2023
Discount rate	3.50	%	3.91	%
Expected long-term rate of return on plan assets	3.50	%	3.88	%
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, 2024 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 $0.7 million in fiscal year 2025.


	Pension Benefit Payments
	(In thousands)
For the fiscal year ending July 31:
2025	$	357
2026	381
2027	405
2028	468
2029	558
Thereafter	3,677

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.

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+ Details

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jul. 31, 2024

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, 2024 and 2023, classified by fair value hierarchy:


	Successor		Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2024		Level 1		Level 2		Level 3
Assets:
Money market funds	$	235,221	$	235,221	$	—	$	—
Convertible loan note investment	—		—		—		—
Other investments	41,376		41,376		—		—

Liabilities:
SPHG Note	$	12,903	$	—	$	—	$	12,903


	Successor		Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds	$	85,269	$	85,269	$	—	$	—

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

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

Following is a summary of changes in financial assets and liabilities measured using Level 3 inputs:


(in thousands)	SPHG Note (a)		Convertible Loan Note Investment (a)
Balance as of July 31, 2023 (Successor)	$	12,461	$	—
Purchases	—		1,227
Change in fair value	442		(1,227)
Balance as of July 31, 2024 (Successor)	$	12,903	$	—

(a) Unrealized losses are recorded in Other gains, net within the condensed consolidated statements of operations.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jul. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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, 2024
Segment Reporting Information [Line Items]
Net revenue	$ 40,804	$ 148,283	$ 174,109
Total operating income	1,621	6,789	7,461
Total other income	6,130	2,301	13,496
Income before income taxes	7,751	9,090	20,957
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Net revenue	40,804	148,283	174,109
Total operating income	3,328	16,488	13,739
Corporate-level activity
Segment Reporting Information [Line Items]
Total operating income	$ (1,707)	$ (9,699)	$ (6,278)

- 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.

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- 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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+ 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, 2024
Change in Deferred Revenue
Balance at beginning of period	$ 3,073	$ 2,839	$ 2,718
Deferral of revenue	245	1,595	1,628
Recognition of deferred amounts upon satisfaction of performance obligation	(600)	(1,361)	(2,021)
Balance at end of period	$ 2,718	$ 3,073	$ 2,325

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Oct. 31, 2023	Jul. 31, 2023	May 01, 2023	Apr. 30, 2023
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Exchange \| Aerojet
Class of Stock [Line Items]
Proceeds from divestiture of businesses and interests in affiliates	$ 154,500	$ 53,300
Disposal group, including discontinued operation, consideration		$ 207,800
SPLP
Class of Stock [Line Items]
Investments			$ 202,733	$ 202,733

- 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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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

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

DEBT

12 Months Ended

Jul. 31, 2024

Debt Disclosure [Abstract]

DEBT

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


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	12,903	$	12,461
Credit Facilities
Umpqua Revolver	—		—
Total debt, net	$	12,903	$	12,461

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

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"). The SPHG Note was amended on March 9, 2023 (the "Amendment Date"), to extend the maturity date to September 1, 2024. In addition, the Company repaid $2.0 million in principal amount of the SPHG Note during fiscal year 2023. Refer to Note 22 - "Fair Value Measurements" for further information.

As of both July 31, 2024 and 2023, the principal amount of the note was $12.9 million. As of May 1, 2023, or the date of the Exchange Transaction, the Company accounts 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 22 - "Fair Value

Measurements" for further information. The fair value of the SPHG Note was reported as a current liability on the condensed consolidated balance sheets beginning in the first quarter of fiscal year 2024, as its maturity is less than twelve months.

The SPHG Note matured on September 1, 2024 and the Company paid off the outstanding principal and accrued interest for the SPHG Note upon its maturity.

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Interest expense related to contractual interest coupon on the SPHG Note	$	996	$	261	$	844
Interest expense related to accretion of the discount on the SPHG Note(a)	—		—		1,688
Interest expense related to revolving credit facilities (see below)	—		—		36
Other	—		4		20
Total interest expense	$	996	$	265	$	2,588

(a) Prior to the date of the Exchange Transaction, the discount on the SPHG Note was accreted using the effective interest rate method. The effective interest rate on the SPHG Note was 27.8% prior to the SPHG Note Amendment, and was 23.0% subsequent to the SPHG Note Amendment.

Umpqua Revolver

ModusLink, as borrower, is party to a revolving credit agreement with Umpqua Bank as lender and as agent, which provides for a maximum credit commitment of $12.5 million and a sublimit of $5.0 million for letters of credit (collectively, the "Umpqua Revolver"). On May 1, 2024, ModusLink, entered into a Second Amendment to the Umpqua Revolver (the “Second Amendment”). Among other things, the Second Amendment (i) extended the maturity date with respect to revolving loans from March 31, 2025 to March 31, 2026, (ii) removed certain adjustments in the definition of “Adjusted EBITDA” as set forth in the Umpqua Revolver, (iii) increased the minimum Adjusted Tangible Net Worth (as defined in the credit agreement) and (iv) removed certain caps and conditions on ModusLink’s ability to pay dividends.

As of July 31, 2024, 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 from the filing of this Annual Report. As of July 31, 2024, ModusLink had available borrowing capacity of $11.9 million and there was $0.6 million outstanding 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 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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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 5: http://www.xbrl.org/2003/role/disclosureRef
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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
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(c))
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/470/tableOfContent

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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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INVESTMENTS (Tables)

12 Months Ended

Jul. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investment

The following table summarizes the Company's investments as of July 31, 2024. There were no investments as of July 31, 2023.


	Successor
(in thousands)	July 31, 2024
Convertible loan note investment(a)	$	—
Investments in Equity Securities(b)	41,376
Total	$	41,376

(a) The Company entered into a new convertible loan note on October 13, 2023, which matures on March 31, 2025. The Company paid 1.0 million GBP (approximately $1.2 million) to subscribe for an amount of £1.0 million (the "loan principal") of 11.0% 2025 unsecured convertible loan notes issued by the investee (the "CLN Instrument Agreement"). Contemporaneous with the execution of the CLN Instrument Agreement, the Company executed the Equity Warrant Instrument Agreement (“Warrant Agreement”), which provides the Company with the option to convert the outstanding balance into equity shares of the investee at any time before repayment of the outstanding loan principal balance. The Company’s £1.0 million investment in the £20.0 million GBP 11.0% unsecured convertible loan notes provides it with an approximate 5.0% ownership interest in the investee on an if-converted basis. Changes in fair value will be recorded in the Company's condensed consolidated statements of operations as the Company elected the fair value option under ASC 825 to account for this investment. Changes in fair value are recorded in the Company's condensed consolidated statements of operations as the Company elected the fair value option under ASC 825 to account for this investment. In April 2024, the Company became aware that the investee had halted its operations while it undergoes a restructuring process. As a result,

the Company determined that the fair value of the investment was zero. The Company recorded a loss of $1.2 million to Other gains, net on the condensed consolidated statements of operations during the third quarter of fiscal year 2024, which was the fair value of the investment as of January 31, 2024. As of July 31, 2024, there was no new information available that would indicate that the fair value of the convertible loan note investment had changed.

(b) The balance consists of multiple common stock investments in public companies which are measured at fair value.

Unrealized Gain (Loss) on Investments

The amount of unrealized net gains for the fiscal year ended July 31, 2024 that relate to equity securities still held as of July 31, 2024 are as follows:


	Successor
	Fiscal Year Ended July 31,
(in thousands)	2024
Net gains recognized during the period on equity securities	989
Less: Net gains recognized during the period on equity securities sold during the period	453
Unrealized net gains recognized during the period on equity securities still held at the end of the period	$	536

EXCHANGE TRANSACTION - Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	May 01, 2023	Jul. 31, 2024	Jul. 31, 2023	Apr. 30, 2023
Related Party Transaction [Line Items]
Goodwill		$ 19,703	$ 22,785
SPLP
Related Party Transaction [Line Items]
Accounts receivable, trade	$ 36,900			$ 36,900
Measurement period adjustments, accounts receivable, trade	0
Inventories, net	6,900			6,900
Measurement period adjustments, inventory	0
Prepaid expenses and other current assets	4,957			4,957
Measurement period adjustments, prepaid expenses and other current assets	0
Other intangible assets	35,500			35,500
Measurement period adjustments, other intangible assets	0
Other assets	3,900			3,900
Measurement period adjustments, other assets	0
Property and equipment, net	3,400			3,400
Measurement period adjustments, property, plant, and equipment	0
Operating lease right-of-use assets	29,250			29,250
Measurement period adjustments, operating lease right-of-use assets	0
Investments	202,733			202,733
Measurement period adjustments, Investments	0
Estimated fair value of total assets acquired by Steel Holdings	323,540			323,540
Measurement period adjustments, estimated fair value of total assets acquired by Steel Holdings	0
Accounts payable	26,300			26,300
Measurement period adjustments, accounts payable	0
Accrued expenses	26,018			29,100
Measurement period adjustments, accrued expenses	(3,082)
Current lease obligations	7,994			7,994
Measurement period adjustments, current lease obligations	0
Other current liabilities	7,236			7,236
Measurement period adjustments, other current liabilities	0
Long-term lease obligations	21,300			21,300
Measurement period adjustments, long-term lease obligations	0
Other long-term liabilities	5,742			5,742
Measurement period adjustments, other long-term liabilities	0
Estimated fair value of total liabilities assumed by Steel Holdings	94,590			97,672
Measurement period adjustments, estimated fair value of total liabilities assumed by Steel Holdings	(3,082)
Fair value of identifiable net assets	228,950			225,868
Measurement period adjustments, fair value of identifiable net assets	3,082
Goodwill	19,703			$ 22,785
Measurement period adjustments, goodwill	$ (3,082)

INVESTMENTS

12 Months Ended

Jul. 31, 2024

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

The following table summarizes the Company's investments as of July 31, 2024. There were no investments as of July 31, 2023.


	Successor
(in thousands)	July 31, 2024
Convertible loan note investment(a)	$	—
Investments in Equity Securities(b)	41,376
Total	$	41,376

(b) The balance consists of multiple common stock investments in public companies which are measured at fair value.

The amount of unrealized net gains for the fiscal year ended July 31, 2024 that relate to equity securities still held as of July 31, 2024 are as follows:


	Successor
	Fiscal Year Ended July 31,
(in thousands)	2024
Net gains recognized during the period on equity securities	989
Less: Net gains recognized during the period on equity securities sold during the period	453
Unrealized net gains recognized during the period on equity securities still held at the end of the period	$	536

Unrealized net gains are recorded in Other gains, net on the condensed consolidated statements of operations. There were no equity securities still held as of July 31, 2023, however the Company recognized $5.1 million realized gains on the disposition of the Aerojet shares for the fiscal year ended July 31, 2023. Refer to Note 15 - "Other Gains, Net" for further information.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Jul. 31, 2024

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, 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 (loss) income at July 31, 2023 (Successor)	(623)		36		(587)
Foreign currency translation adjustment	(476)		—		(476)
Pension liability adjustments	—		(444)		(444)
Net current-period other comprehensive loss	(476)		(444)		(920)
Accumulated other comprehensive loss at July 31, 2024 (Successor)	$	(1,099)	$	(408)	$	(1,507)

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, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (2,889)	$ (2,889)	$ 63,651	$ (9,206)	$ 68,624
Foreign currency translation adjustment		(623)	(623)	999	(476)
Pension liability adjustments		36	36	(1,078)	(444)
Other comprehensive loss		(587)	(587)	(79)	(920)
Effect of exchange transaction	66,540
Ending balance	63,651	68,624	68,624	(2,889)	154,181
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,061	4,061	0	4,140	(587)
Effect of exchange transaction	(4,061)
Ending balance	0	(587)	(587)	4,061	(1,507)
Foreign currency items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	7,062	7,062	0	6,063	(623)
Foreign currency translation adjustment			(623)	999	(476)
Pension liability adjustments			0	0	0
Other comprehensive loss			(623)	999	(476)
Effect of exchange transaction	7,062
Ending balance	0	(623)	(623)	7,062	(1,099)
Pension items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,001)	(3,001)	0	(1,923)	36
Foreign currency translation adjustment			0	0	0
Pension liability adjustments			36	(1,078)	(444)
Other comprehensive loss			36	(1,078)	(444)
Effect of exchange transaction	(3,001)
Ending balance	$ 0	$ 36	$ 36	$ (3,001)	$ (408)

- Definition

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

+ References

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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
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-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
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-Name Accounting Standards Codification
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-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
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-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2

+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Jul. 31, 2024

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, 2024 and 2023, classified by fair value hierarchy:


	Successor		Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2024		Level 1		Level 2		Level 3
Assets:
Money market funds	$	235,221	$	235,221	$	—	$	—
Convertible loan note investment	—		—		—		—
Other investments	41,376		41,376		—		—

Liabilities:
SPHG Note	$	12,903	$	—	$	—	$	12,903


	Successor		Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2023		Level 1		Level 2		Level 3
Assets:
Money market funds	$	85,269	$	85,269	$	—	$	—

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

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

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

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

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

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

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's assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets and goodwill and other intangible assets. 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, and restricted cash, 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.

Subsequent to the issuance of fiscal year 2023 financial statements, the Company determined that the money market funds balance as of July 31, 2023 in the above table, was understated by $54.2 million. The Company corrected this immaterial error in the table above as of July 31, 2023. This disclosure change did not have any impact to amounts recognized in the consolidated balance sheets.

Following is a summary of changes in financial assets and liabilities measured using Level 3 inputs:


(in thousands)	SPHG Note (a)		Convertible Loan Note Investment (a)
Balance as of July 31, 2023 (Successor)	$	12,461	$	—
Purchases	—		1,227
Change in fair value	442		(1,227)
Balance as of July 31, 2024 (Successor)	$	12,903	$	—

(a) Unrealized losses are recorded in Other gains, net within the condensed consolidated statements of operations.

Valuation Techniques

Included in cash and cash equivalents in the accompanying consolidated balance sheets are money market funds. These are valued at quoted market prices in active markets.

The Company uses quoted market prices to determine the fair value of investments in equity securities with readily determinable fair value.

Prior to the date of the Exchange Transaction, 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 now measures the fair value of the SPHG Note on a recurring basis. Refer to 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 $0.4 million and $0.5 million in unrealized losses in Other gains, net within the condensed consolidated statements of operations for the fiscal year ended July 31, 2024 and during the May 1 to July 31, 2023 Successor Period, respectively, as a result of the fair value measurements performed. There were no unrealized gains or losses recognized during the August 1 to April 30, 2023 Predecessor Period. The Company determined that there have been no changes to the fair value of the SPHG Note from the second quarter of fiscal year 2024, given that the fair value remeasurement performed as of January 31, 2024 yielded $12.9 million, which equates to the principal balance remaining on the SPHG Note. The SPHG Note matured on September 1, 2024 and the Company paid off the outstanding principal and accrued interest for the SPHG Note upon its maturity.

As discussed in Note 6 - "Investments", the Company elected the fair value option to account for their convertible loan note investment. In April 2024, the Company determined that the fair value of the investment is zero. As such, the Company recorded a loss of $1.2 million to the condensed consolidated statement of operations during the third quarter of fiscal year 2024. As of July 31, 2024, there was no new information available that would indicate that the fair value of the convertible loan note investment had changed. There were no unrealized gains or losses recorded to the condensed consolidated statement of operations during the fiscal year ended July 31, 2023, as the convertible loan note investment was a new investment in October 2023.

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Jul. 31, 2024

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, 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 (loss) income at July 31, 2023 (Successor)	(623)		36		(587)
Foreign currency translation adjustment	(476)		—		(476)
Pension liability adjustments	—		(444)		(444)
Net current-period other comprehensive loss	(476)		(444)		(920)
Accumulated other comprehensive loss at July 31, 2024 (Successor)	$	(1,099)	$	(408)	$	(1,507)

In both the fiscal years ended July 31, 2024 and 2023, the Company recorded an immaterial amount in taxes related to other comprehensive loss.

NATURE OF OPERATIONS	12 Months Ended
NATURE OF OPERATIONS	Jul. 31, 2024
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, telecommunications, computing and storage, software and content, consumer packaged goods, health and personal care products, retail and luxury, and connected devices. 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 the approval by the Company's stockholders on June 6, 2023, pursuant to the rules of the Nasdaq Capital Market, 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 participate in any dividends paid on the Company's common stock, in each case on an as-converted basis. Conversion of the Series E Convertible Preferred Stock, when combined with the Steel Connect common stock, the 7.50% Convertible Senior Note (the "SPHG Note"), if converted, and the Steel Connect Series C Convertible Preferred Stock, also if converted, owned by the Steel Partners Group, would have resulted in the Steel Partners Group holding approximately 84.0% of the outstanding equity interests of the Company as of May 1, 2023. The exclusion of the if-converted shares of the SPHG Note would have resulted in the Steel Partners Group holding approximately 83.8% of the outstanding equity interests of the Company as of May 1, 2023. The Exchange Transaction closed on May 1, 2023, the date that the consideration was exchanged between the Company and Steel Holdings, and as of that date the Company became a consolidated subsidiary of Steel Holdings for financial statement purposes. In connection with the Exchange Transaction, the parties entered into a Stockholders’ Agreement (the “Stockholders’ Agreement”) governing, among other things, certain transactions between the Company and the Steel Partners Group following the closing of the Exchange Transaction. See Note 3 - "Exchange Transaction" for further information. 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. As of May 1, 2023, the Company elected pushdown accounting in which it used Steel Holdings' basis of accounting, which reflected 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 and onward, includes the impact of pushdown accounting and is referred to as the "Successor" period. See Note 3 - "Exchange Transaction" for further information. As of July 31, 2024, the Steel Partners Group beneficially owned approximately 89.7% 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. The exclusion of the if-converted value of the SPHG Note would have resulted in the Steel Partners Group holding approximately 89.5% of our outstanding capital stock.

DEBT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
DEBT - Narrative (Details) - USD ($) $ in Millions	Jul. 31, 2023	Jul. 31, 2024	Feb. 28, 2019
Umpqua Revolver
Debt Instrument [Line Items]
Line of credit facility, maximum credit commitment		$ 12.5
Line of credit facility, sublimit borrowing capacity		5.0
Revolving credit facility		0.6
MidCap Credit Facility
Debt Instrument [Line Items]
Credit facility, readily available borrowing capacity		11.9
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc
Debt Instrument [Line Items]
Debt instrument stated percentage			7.50%
Debt instrument, face amount	$ 12.9	$ 12.9	$ 14.9
Debt instrument, repaid, principal	$ 2.0

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Jul. 31, 2024

Payables and Accruals [Abstract]

Components of Accrued Expenses

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


	Successor
	July 31, 2024		July 31, 2023
Accrued Expenses	(In thousands)
Accrued compensation	$	6,504	$	6,891
Accrued audit, tax and legal	3,909		5,696
Accrued price concessions	2,312		2,981
Accrued taxes	1,863		2,811
Accrued occupancy costs	1,803		1,412
Accrued IT costs	727		831
Accrued other	4,541		6,152
Total accrued expenses	$	21,659	$	26,774

Components of Other Current Liabilities


	Successor
	July 31, 2024		July 31, 2023
Other Current Liabilities	(In thousands)
Deferred revenue - current	2,271		2,574
Other	2,152		1,970
Total other current liabilities	$	4,423	$	4,544

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Accounting Policies [Abstract]
Cash and bank deposits	$ 13,393	$ 36,103
Money market funds	235,221	85,269
Cash and cash equivalents	$ 248,614	$ 121,372

INCOME TAXES - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
INCOME TAXES - Narrative (Detail) - USD ($) $ in Thousands	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Jul. 31, 2023
Income Taxes [Line Items]
Net deferred tax assets	$ 11,815		$ 78,393	$ 11,815
Deferred tax liability	489			489
Change in valuation allowance			(77,700)	390,700
Deferred tax assets, operating loss carryforwards, subject to expiration			30,800
Deferred taxes	(250)	$ 0	(68,470)
Income tax (benefit) expense	(398)	$ 1,630	$ (67,023)
Ownership percentage			5.00%
Stockholder owning ownership on corporation's securities rolling period			3 years
Unrecognized tax benefits, including interest, related to federal, state and foreign taxes	400		$ 100	400
Expected any unrecognized tax benefits to reverse in the next twelve months			100
One-Time Non-cash
Income Taxes [Line Items]
Deferred taxes			(73,400)
Income tax (benefit) expense			(71,500)
State
Income Taxes [Line Items]
Deferred tax assets, operating loss carryforwards, subject to expiration			900
Operating loss carryforwards			116,100
Federal
Income Taxes [Line Items]
Operating loss carryforwards			321,600
Federal \| Expiration Period From July 31,2023 Through July 31, 2038
Income Taxes [Line Items]
Operating loss carryforwards			225,000
Federal \| Indefinite Carryforward Period
Income Taxes [Line Items]
Operating loss carryforwards			96,600
Foreign
Income Taxes [Line Items]
Operating loss carryforwards			71,300
Foreign net operating loss carryforward with indefinite period			68,800
Deferred Income Tax Assets, Net
Income Taxes [Line Items]
Net deferred tax assets	300		68,300	300
Other Long -term Liabilities
Income Taxes [Line Items]
Deferred tax liability	$ 800		$ 300	$ 800

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Mar. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

FAIR VALUE MEASUREMENTS - Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 30, 2024	Jul. 31, 2024
SPHG Note
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of July 31, 2023 (Successor)		$ 12,461
Purchases		0
Change in fair value		442
Balance as of July 31, 2024 (Successor)		12,903
Convertible Loan Note Investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of July 31, 2023 (Successor)		0
Purchases		1,227
Change in fair value	$ (1,200)	(1,227)
Balance as of July 31, 2024 (Successor)		$ 0

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Jul. 31, 2024

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
(in thousands)
Balance at July 31, 2023 (Successor)
Gross goodwill	$	22,785
Accumulated impairments	—
Net goodwill	$	22,785
Balance at July 31, 2024 (Successor)
Gross goodwill	$	22,785
Accumulated impairments	—
Pushdown accounting adjustment	(3,082)
Net goodwill	$	19,703

Schedule of Indefinite-Lived Intangible Assets

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


	Successor
	July 31, 2024						July 31, 2023
	(in thousands)
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	25,000	$	4,464	$	20,536	$	25,000	$	911	$	24,089
Trade name	10,500		—		10,500		10,500		—		10,500
Total	$	35,500	$	4,464	$	31,036	$	35,500	$	911	$	34,589

Schedule of Estimated Future Amortization Expense of Intangible Assets

Based on gross carrying amounts at July 31, 2024, the Company's estimate of amortization expense for each of the five succeeding years and thereafter is as follows:


	Fiscal Year Ending July 31,
	2025		2026		2027		2028		2029		Thereafter
	(In thousands)
Estimated amortization expense	$	3,571	$	3,571	$	3,571	$	3,571	$	3,571	$	2,681

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-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 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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+ Details

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	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 9	$ 1,145	$ 1,009
Cash paid for income taxes	$ 3,008	$ 0	$ 2,204

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION

12 Months Ended

Jul. 31, 2024

Supplemental Cash Flow Elements [Abstract]

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and cash equivalents	$	248,614	$	121,372
Funds held for clients	2,576		2,031
Cash, cash equivalents and restricted cash	$	251,190	$	123,403

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Cash paid for interest	$	1,009	$	9	$	1,145
Cash paid for income taxes	$	2,204	$	3,008	$	—

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

There were no non-cash investing activities for the fiscal year ended July 31, 2024. Non-cash investing activities during the May 1 to July 31, 2023 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 fiscal years ended July 31, 2024 and 2023 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 during the fiscal year ended July 31, 2023. Additionally, non-cash financing activities during the May 1 to July 31, 2023 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.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Jul. 31, 2024

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

PREPAID EXPENSES AND OTHER CURRENT ASSETS

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


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Aerojet common stock proceeds receivable	$	—	$	154,500
Prepaid expenses	2,421		2,217
Other current assets	2,041		1,969
	$	4,462	$	158,686

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 disposed of when L3 Harris closed its merger with Aerojet. As of July 31, 2023, the Company received $53.3 million in cash out of the total net proceeds of $207.8 million. The Company received the remaining $154.5 million proceeds in cash in the first quarter of fiscal year 2024, and there was a corresponding decrease in prepaid expenses and other current assets within the consolidated balance sheet at the time of this cash receipt.

SEGMENT INFORMATION

12 Months Ended

Jul. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

Subsequent to the Company’s disposition of the Direct Marketing reportable segment in the IWCO Direct Disposal in February 2022, the Company has one reportable segment: Supply Chain. The Company also has Corporate-level activity, which consists primarily of activity related to business development to manage investments and cash, as well as 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 operations by operating segment is as follows:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Net revenue:
Supply Chain	$	174,109	$	40,804	$	148,283
Total segment net revenue	$	174,109	$	40,804	$	148,283
Operating income:
Supply Chain	13,739		3,328		16,488

Corporate-level activity	(6,278)		(1,707)		(9,699)
Total operating income	7,461		1,621		6,789
Total other income	13,496		6,130		2,301
Income before income taxes	$	20,957	$	7,751	$	9,090


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Total assets:
Supply Chain	$	149,198	$	146,614
Corporate	336,430		264,567
Total assets	$	485,628	$	411,181

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Capital expenditures	$	3,965	$	807	$	1,311
Depreciation expense	1,826		456		1,427

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
			(In thousands)
Mainland China	$	61,339	$	14,649	$	48,049
United States	40,860		8,800		38,262
Netherlands	21,720		5,774		15,149
Singapore	17,144		4,448		14,940
Czech	14,320		3,336		19,497
Other	18,726		3,797		12,386
Total consolidated net revenue	$	174,109	$	40,804	$	148,283

- 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.

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+ Details

REVENUE RECOGNITION (Tables)

12 Months Ended

Jul. 31, 2024

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
	Fiscal Year Ended July 31,	May 1 to July 31,		August 1, 2022 to April 30,
	2024	2023		2023
	(In thousands)
Service Lines
Supply chain management services	172,628	$	40,467	$	147,185
Other	1,481	337		1,098
	174,109	$	40,804	$	148,283
Timing of Revenue Recognition
Services transferred over time	174,109	$	40,804	$	148,283
	174,109	$	40,804	$	148,283

Summary of Changes in Deferred Revenue

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


	Successor				Predecessor
	July 31, 2024		July 31, 2023		August 1, 2022
	(In thousands)
Accounts receivable, trade, net	$	33,443	$	28,616	$	40,083
Contract assets	275		439		369

Deferred revenue - current	$	2,271	$	2,574	$	2,705
Deferred revenue - long-term	54		144		134
Total deferred revenue	$	2,325	$	2,718	$	2,839

Remaining Performance Obligations

Remaining performance obligations are comprised of deferred revenue. Changes in deferred revenue during the fiscal years ended July 31, 2024 and 2023 were as follows:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Balance at beginning of period	$	2,718	$	3,073	$	2,839
Deferral of revenue	1,628		245		1,595
Recognition of deferred amounts upon satisfaction of performance obligation	(2,021)		(600)		(1,361)
Balance at end of period	$	2,325	$	2,718	$	3,073

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ / shares in Units, $ in Millions		12 Months Ended
	Jun. 06, 2023 shares	Jul. 31, 2024 $ / shares shares	Jul. 31, 2023 USD ($) $ / shares shares	Jun. 21, 2023 $ / shares shares
Equity [Line Items]
Preferred stock, shares authorized (in shares)		4,965,000	4,965,000	3,535,000
Preferred stock, par value (in usd per share) \| $ / shares		$ 0.01	$ 0.01	$ 0.01
Highly liquid investment period to be considered cash equivalent		3 months
Operating leases		5.50%	5.20%
Money market funds \| Fair Value, Measurements, Recurring
Equity [Line Items]
Assets, fair value disclosure, understated amount \| $			$ 54.2
Net Accounts Receivable \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage			10.00%
Ten Largest Clients \| Sales Revenue, Net \| Customer Concentration Risk
Equity [Line Items]
Concentration risk percentage		81.00%	83.00%
One Customer \| Sales Revenue, Net \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage		38.00%	41.00%
Two Customer \| Sales Revenue, Net \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage		15.00%	13.00%
Client One \| Net Accounts Receivable \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage		41.00%	28.00%
Client Two \| Net Accounts Receivable \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage		15.00%	14.00%
Client Three \| Net Accounts Receivable \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage			12.00%
Client Four \| Net Accounts Receivable \| Customer Concentration Risk \| Supply Chain
Equity [Line Items]
Concentration risk percentage			10.00%
Minimum
Equity [Line Items]
Highly liquid investment period to be considered short term investments		3 months
Maximum
Equity [Line Items]
Highly liquid investment period to be considered short term investments		12 months
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	3,500

REVENUE RECOGNITION

12 Months Ended

Jul. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue


	Successor			Predecessor
	Fiscal Year Ended July 31,	May 1 to July 31,		August 1, 2022 to April 30,
	2024	2023		2023
	(In thousands)
Service Lines
Supply chain management services	172,628	$	40,467	$	147,185
Other	1,481	337		1,098
	174,109	$	40,804	$	148,283
Timing of Revenue Recognition
Services transferred over time	174,109	$	40,804	$	148,283
	174,109	$	40,804	$	148,283

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


	Successor				Predecessor
	July 31, 2024		July 31, 2023		August 1, 2022
	(In thousands)
Accounts receivable, trade, net	$	33,443	$	28,616	$	40,083
Contract assets	275		439		369

Deferred revenue - current	$	2,271	$	2,574	$	2,705
Deferred revenue - long-term	54		144		134
Total deferred revenue	$	2,325	$	2,718	$	2,839

Remaining Performance Obligations

Remaining performance obligations are comprised of deferred revenue. Changes in deferred revenue during the fiscal years ended July 31, 2024 and 2023 were as follows:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Balance at beginning of period	$	2,718	$	3,073	$	2,839
Deferral of revenue	1,628		245		1,595
Recognition of deferred amounts upon satisfaction of performance obligation	(2,021)		(600)		(1,361)
Balance at end of period	$	2,325	$	2,718	$	3,073

The Company expects to recognize approximately $2.2 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.

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+ Details

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, 2024	Jul. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Balance as of beginning of year	$ 274	$ 571
Reductions for lapses in statute of limitations	(189)	(297)
Balance as of end of year	$ 85	$ 274

STATEMENT OF CASH FLOWS SUPPLEMENTAL INFORMATION - Narrative (Detail) - USD ($)	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jun. 06, 2023	May 01, 2023
Cash and Cash Equivalents [Line Items]
Issuance of nonvested common stock ( in shares)	100,000	100,000
Issuance of nonvested common stock, value	$ 700,000	$ 700,000
Share-based payment arrangement, accelerated cost		57,400
Redeemable noncontrolling interest, equity, preferred, carrying amount	$ 237,739,000	$ 237,739,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01	$ 0.01
Aerojet Share
Cash and Cash Equivalents [Line Items]
Aerojet common stock proceeds receivable	$ 0	$ 154,500,000
Aerojet Share \| Exchange Transaction Agreement \| Steel Partners \| Exchanging Parties
Cash and Cash Equivalents [Line Items]
Common stock, shares exchanged (in shares)		3,600,000		3,597,744
Common stock, par value (in usd per share)		$ 0.10		$ 100
Series E Contingently Redeemable Preferred Stock
Cash and Cash Equivalents [Line Items]
Redeemable noncontrolling interest, equity, preferred, carrying amount	$ 202,733,000	$ 202,733,000

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2024	Jul. 31, 2023
Current assets:
Cash and cash equivalents	$ 248,614,000	$ 121,372,000
Accounts receivable, trade, net of allowance for credit losses of $169 and $219 at July 31, 2024 and 2023, respectively	33,443,000	28,616,000
Inventories, net	6,733,000	8,569,000
Funds held for clients	2,576,000	2,031,000
Prepaid expenses and other current assets	4,462,000	158,686,000
Total current assets	295,828,000	319,274,000
Property and equipment, net	5,536,000	3,698,000
Operating lease right-of-use assets	20,748,000	27,098,000
Investments	41,376,000	0
Other intangible assets, net	31,036,000	34,589,000
Goodwill	19,703,000	22,785,000
Deferred tax asset	68,315,000	317,000
Other assets	3,086,000	3,420,000
Total assets	485,628,000	411,181,000
Current liabilities:
Accounts payable	25,219,000	26,514,000
Accrued expenses	21,659,000	26,774,000
Funds held for clients	2,532,000	1,949,000
Current lease obligations	8,319,000	7,973,000
Convertible note payable	12,903,000	0
Other current liabilities	4,423,000	4,544,000
Total current liabilities	75,055,000	67,754,000
Convertible note payable	0	12,461,000
Long-term lease obligations	12,740,000	19,161,000
Other long-term liabilities	5,913,000	5,442,000
Total long-term liabilities	18,653,000	37,064,000
Total liabilities	93,708,000	104,818,000
Commitments and contingencies (Note 12)
Contingently redeemable preferred stock	237,739,000	237,739,000
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at July 31, 2024 and 2023; zero shares issued and outstanding at July 31, 2024 and 2023	0	0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 6,319,513 issued and outstanding shares at July 31, 2024; 6,250,493 issued and outstanding shares at July 31, 2023	65,000	65,000
Additional paid-in capital	62,166,000	61,534,000
Accumulated earnings	93,457,000	7,612,000
Accumulated other comprehensive loss	(1,507,000)	(587,000)
Total stockholders' equity	154,181,000	68,624,000
Total liabilities, contingently redeemable preferred stock and stockholders' equity	485,628,000	411,181,000
Series C Contingently Redeemable Preferred Stock
Current liabilities:
Contingently redeemable preferred stock	35,006,000	35,006,000
Series E Contingently Redeemable Preferred Stock
Current liabilities:
Contingently redeemable preferred stock	$ 202,733,000	$ 202,733,000

INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

Components of Loss from Continuing Operations before Provision for Income Taxes

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Income before income taxes:
U.S.	$	14,460	$	9,866	$	2,021
Foreign	6,497		(2,115)		7,069
Total income before income taxes	$	20,957	$	7,751	$	9,090

Components of Income Tax Expense from Operations

The components of income tax (benefit) expense consist of the following:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Current provision (benefit):
Federal	$	53	$	72	$	487
State	(141)		(110)		48
Foreign	1,535		(110)		1,095
	1,447		(148)		1,630
Deferred (benefit) provision:
Federal	(62,128)		—		—
State	(6,410)		—		—
Foreign	68		(250)		—
	(68,470)		(250)		—
Total tax (benefit) provision	$	(67,023)	$	(398)	$	1,630

Components of Deferred Tax Assets and Liabilities

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


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	2,667	$	2,645
Tax basis in excess of financial basis for intangible and fixed assets	166		175
Lease liability	3,031		3,574
Convertible debt	25		—
Research and experiment	43		—
Interest expense disallowance	—		—
Credit carry forwards	25		25
Net operating loss and capital loss carry forwards	85,157		95,832
Total gross deferred tax assets	91,114		102,251
Less: valuation allowance	(12,721)		(90,436)
Net deferred tax assets	$	78,393	$	11,815
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	$	(7,262)	$	(8,446)
Right-of-use asset	(2,838)		(3,454)
Prepaid expenses	(322)		—
Convertible debt	—		(404)
Total gross deferred tax liabilities	(10,422)		(12,304)
Net deferred tax assets (liabilities)	$	67,971	$	(489)

Reconciliation of Income Tax Expense Attributable to Income from Continuing Operations

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Computed "expected" income tax expense (benefit)	$	4,401	$	1,627	$	1,909
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	(77,845)		(350,469)		(424)
Foreign tax rate differential	(166)		(255)		(50)


Nondeductible expenses	29		459		—
Foreign withholding taxes	(157)		245		147
Foreign other adjustments	167		(246)		—
GILTI	944		1,141		—
Change in uncertain tax position reserves	(259)		(430)		11
Section 78 gross-up	270		—		—


State income taxes, net of federal benefit	869		(1,916)		37
Expiration of net operating loss	5,027		347,462		—
Deferred true-up	(361)		1,786		—
Other	58		198		—
Actual income tax (benefit) expense	$	(67,023)	$	(398)	$	1,630

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
	July 31, 2024		July 31, 2023
	(In thousands)
Balance as of beginning of year	$	274	$	571


Reductions for lapses in statute of limitations	(189)		(297)

Balance as of end of year	$	85	$	274

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Accounts receivable, trade, allowance for doubtful accounts	$ 169	$ 219
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)	6,319,513	6,250,493
Common stock, shares outstanding (in shares)	6,319,513	6,250,493
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	$ 0.01
Preferred stock, shares authorized (in shares)	3,500,000	3,500,000
Preferred stock, shares issued (in shares)	3,500,000	3,500,000
Preferred stock, shares outstanding (in shares)	3,500,000	3,500,000

DEFINED BENEFIT PENSION PLANS (Tables)

12 Months Ended

Jul. 31, 2024

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, 2024 and 2023, classified by fair value hierarchy:


	Successor				Fair Value Measurements at Reporting Date Using
(In thousands)	July 31, 2024		Asset Allocations		Level 1		Level 2		Level 3
Insurance contract	$	17,516	98	%	$	—	$	—	$	17,516
Other investments	443		2	%	—		—		443
	$	17,959	100	%	$	—	$	—	$	17,959


	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

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
	July 31, 2024		July 31, 2023
	(In thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	19,119	$	21,103
Adjustment related to unconditional indexation of benefits	—		1,077
Adjustment for termination of Japan pension plan	(227)		—
Service cost	—		10
Interest cost	789		679
Actuarial gain (loss)	2,941		(4,885)

Benefits and administrative expenses paid	(329)		(275)
Settlements	—		(109)

Currency translation	(364)		1,519
Benefit obligation at end of year	$	21,929	$	19,119

Change in plan assets
Fair value of plan assets at beginning of year	$	15,314	$	17,976
Actual return on plan assets	3,141		(3,759)
Employer contributions, net	130		225

Settlements	—		(108)
Benefits and administrative expenses paid	(329)		(275)
Currency translation	(297)		1,255
Fair value of plan assets at end of year	$	17,959	$	15,314

Funded status
Current liabilities	$	—	$	(9)
Noncurrent liabilities	(3,970)		(3,796)
Net amounts recognized on the consolidated balance sheets	$	(3,970)	$	(3,805)

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
	July 31, 2024		July 31, 2023
	(In thousands)
Projected benefit obligation	$	21,929	$	19,119
Accumulated benefit obligation	$	21,929	$	19,119
Fair value of plan assets	$	17,959	$	15,314

Components of Net Periodic Pension Cost

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


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Service cost	$	—	$	10
Interest costs	789		679
Expected return on plan assets	(652)		(574)
Amortization of net actuarial loss	6		9

Net periodic pension costs	$	143	$	124

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
	July 31, 2024		July 31, 2023
Discount rate	3.50	%	4.21	%
Rate of compensation increase	—	%	—	%

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


	Successor
	July 31, 2024		July 31, 2023
Discount rate	3.50	%	3.91	%
Expected long-term rate of return on plan assets	3.50	%	3.88	%
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:
2025	$	357
2026	381
2027	405
2028	468
2029	558
Thereafter	3,677

RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2024

RELATED PARTY TRANSACTIONS

As of July 31, 2024, the Steel Partners Group beneficially owned approximately 89.7% 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. The exclusion of the if-converted value of the SPHG Note would have resulted in the Steel Partners Group holding approximately 89.5% of our outstanding capital 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. Joseph Martin, one of our directors, is the Chief Administrative Officer and Chief Legal Officer of Steel Holdings. Ryan O'Herrin, our Chief Financial Officer, is the Chief Financial Officer of Steel Holdings.

SPHG Note Transaction

On February 28, 2019, the Company entered into the SPHG Note Purchase Agreement with SPHG Holdings, whereby SPHG Holdings agreed to loan the Company $14.9 million in exchange for the SPHG Note.

On March 9, 2023 (the "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 third quarter of fiscal year 2023. No other changes were made to the terms of the SPHG Note besides the items discussed.

During the fiscal year ended July 31, 2024, and the May 1 to July 31, 2023 Successor Period, the Company recognized interest expense of $1.0 million and $0.3 million, respectively, associated with the SPHG Note. During the August 1, 2022 to April 30, 2023 Predecessor Period, the Company recognized interest expense of $2.5 million associated with the SPHG Note.

The SPHG Note matured on September 1, 2024, and the Company paid off the outstanding principal and accrued interest for the SPHG Note upon its maturity.

Preferred Stock Transactions

Refer to Note 21 – “Stockholders’ Equity” for information on the Series C Preferred Stock Purchase Agreement with SPHG Holdings. During each of the fiscal years ended July 31, 2024 and 2023, the Company paid dividends of $2.1 million and $2.1 million, respectively, associated with the Series C Convertible Preferred Stock.

Refer to Note 21 – “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 audit committee consisting of at least three independent directors under SEC and applicable stock exchange rules (an "Independent Audit Committee") or one consisting of at least three directors, at least one of whom qualifies as independent under SEC and applicable stock exchange rules and the remainder of whom are not affiliated, as described in the Stockholders’ Agreement, with the Company or the SP Investors or their subsidiaries or affiliates (the “Disinterested Audit Committee”).

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 STCN 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 (as defined in the Stockholders' Agreement), 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.

Currently, 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. As described in the notes to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K, if the Proposed Settlement is approved, the Company will make certain changes to the Stockholders’ Agreement as described above, including that 100% of the net proceeds received by the Company upon resolution of the Reith litigation will be distributed to the Company's stockholders.

Steel Connect Management Services Agreement

On June 14, 2019, the Company entered into an agreement (the "STCN Management Services Agreement") with Steel Services Ltd. ("Steel Services"), an indirect wholly-owned subsidiary of Steel Holdings. The STCN Management Services Agreement was effective as of June 1, 2019. Pursuant to the STCN Management Services Agreement, Steel Services provides the Company and its subsidiaries with the non-exclusive services of certain employees, including certain executive officers (including chief financial officer and general counsel services) and other corporate services. The STCN Management Services Agreement also provides for reimbursements to Steel Services and its representatives for all reasonable expenses incurred in providing the non-exclusive services and automatically renews for successive one year periods unless and until terminated by the Company or Steel Services. On February 25, 2022, in connection with the Company's disposal of its ownership in IWCO Direct Holdings, Inc., the management fee was reduced from $282.8 thousand per month to $101.9 thousand per month.

On October 25, 2023, the Company and Steel Services entered into Amendment No. 2 to the STCN Management Services Agreement, pursuant to which the parties agreed to increase the monthly fee to $131.0 thousand effective as of January 1, 2024, primarily to increase the business development and mergers and acquisition staffing needed to originate, analyze and pursue strategic acquisitions and investments.

Prior to the effective date of Amendment No. 2 to the STCN Management Services Agreement, expenses incurred by ModusLink were paid to Steel Services under the STCN Management Services Agreement.

ModusLink Management Services Agreement

On October 25, 2023, ModusLink entered into a management services agreement (the “ModusLink Management Services Agreement”) with Steel Services, effective as of January 1, 2024. Pursuant to the ModusLink Management Services Agreement, Steel Services will provide ModusLink with certain non-exclusive services of certain employees and executive officers to serve in various positions or functions and to perform duties normally associated with those specific to, or substantially equivalent, positions or functions for ModusLink based on its particular needs. Such services include, but are not limited to, services related to legal and environmental, health and safety, finance, tax and treasury, human resources, “lean,” internal audit, mergers and acquisitions, and information technology. Previously, the terms regarding such non-exclusive services were governed by the STCN Management Services Agreement.

The ModusLink Management Services Agreement provides that ModusLink will pay Steel Services a fixed monthly fee of $80.0 thousand in consideration of the non-exclusive services and will reimburse Steel Services and its representatives for all reasonable expenses incurred in providing the services. The ModusLink Management Services Agreement will automatically renew for successive one-year periods unless and until terminated by ModusLink or Steel Services.

Total expenses incurred related to the management services agreements 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
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Management services agreement expenses	$	2,936	$	617	$	1,736

As of July 31, 2024 and 2023, amounts due to Steel Services were $0.1 million and $0.7 million, respectively and are recorded within the consolidated balance sheets as a component of Accounts payable.

ModusLink Employee Stock Awards

On May 14, 2024, the Company agreed to reimburse Steel Holdings for the issuance by Steel Holdings of restricted limited partnership units to certain ModusLink employees.

Total expenses incurred related to the ModusLink Stock Awards were $0.2 million for the fiscal year ended July 31, 2024. As of July 31, 2024, amounts due to Steel Services were $0.2 million and are recorded within the consolidated balance sheets as a component of Accounts payable.

Air Travel

The Company reimburses SP General Services, LLC (an affiliate of Steel Holdings), rather than Steel Services, for expenses for business-related air travel, which relates to services provided to the Company by Warren G. Lichtenstein as Interim Chief Executive Officer as well as certain of the Company’s executive officers whose services are provided to the Company under the STCN Management Services Agreement or the ModusLink Management Services Agreement. During the fiscal year ended July 31, 2024, SP General Services, LLC incurred $1.8 million in expenses for business-related air travel. During the fiscal year ended July 31, 2023, SP General Services, LLC did not incur any reportable expenses for such business-related air travel. As of July 31, 2024, amounts due to SP General Services, LLC were $1.6 million. There was no balance due to SP General Services, LLC as of July 31, 2023.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

EXCHANGE TRANSACTION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jun. 06, 2023	May 01, 2023	Apr. 30, 2023
Related Party Transaction [Line Items]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Ownership percentage, noncontrolling interest, threshold percentage				16.00%
Ownership percentage, prior approval of equity securities, threshold percentage					49.60%
Ownership percentage, exclusion of if-converted shares, threshold percentage					45.80%
Steel Connect, Inc. \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	50.00%
Steel Partners Group \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	89.70%
Equity method investment, exclusion of if-converted shares, ownership percentage	89.50%
Steel Partners Group \| Steel Partners Group \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage				84.00%
Steel Partners Group \| Steel Connect, Inc. \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage				84.00%
Equity method investment, exclusion of if-converted shares, ownership percentage				83.80%
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
Related Party \| Series E Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, convertible, shares issuable (in shares)			19,800,000
Exchange Transaction Agreement \| Steel Partners \| Exchanging Parties
Related Party Transaction [Line Items]
Liabilities, fair value disclosure	$ 0.0
Liabilities, fair value adjustment	$ 3.1
Exchange Transaction Agreement \| Steel Partners \| Aerojet Share \| Exchanging Parties
Related Party Transaction [Line Items]
Common stock, shares exchanged (in shares)		3,600,000		3,597,744
Common stock, par value (in usd per share)		$ 0.10		$ 100
Exchange Transaction Agreement \| Steel Partners \| Series E Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, shares issued (in shares)				3,500,000

OTHER GAINS, NET - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Jul. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net	$ 5,242	$ 4,471	$ 930
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
Aerojet Share
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other gains, net			$ 1,400	$ 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 31, 2024

Accounting Policies [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The allowance for expected credit losses consisted of the following:


	Successor				Predecessor
	July 31, 2024		May 1 to July 31, 2023		August 1, 2022 to April 30, 2023
	(In thousands)
Balance at beginning of period	$	219	$	1,180	$	44
Application of pushdown accounting(a)	—		(1,180)		—
Provisions charged to expense	—		219		1,136

Recovered	(46)		—		—
Foreign currency impact	$	(4)	$	—	$	—
Balance at end of period	$	169	$	219	$	1,180

(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
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and bank deposits	$	13,393	$	36,103
Money market funds	235,221		85,269
	$	248,614	$	121,372


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and cash equivalents	$	248,614	$	121,372
Funds held for clients	2,576		2,031
Cash, cash equivalents and restricted cash	$	251,190	$	123,403

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

DEFINED BENEFIT PENSION PLANS - Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Retirement Benefits [Abstract]
Projected benefit obligation	$ 21,929	$ 19,119
Accumulated benefit obligation	21,929	19,119
Fair value of plan assets	$ 17,959	$ 15,314

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, 2024
Income Tax Disclosure [Abstract]
U.S.	$ 9,866	$ 2,021	$ 14,460
Foreign	(2,115)	7,069	6,497
Income before income taxes	$ 7,751	$ 9,090	$ 20,957

- Definition

+ References

+ Details

INVESTMENTS - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
INVESTMENTS - Narrative (Details) - USD ($)	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Jul. 31, 2023
Net Investment Income [Line Items]
Investments	$ 0		$ 41,376,000	$ 0
Other gains, net	$ 5,242,000	$ 4,471,000	930,000
Aerojet Share
Net Investment Income [Line Items]
Other gains, net			$ 1,400,000	$ 5,100,000

SHARE-BASED PAYMENTS - Narrative (Detail) - USD ($) $ in Millions					3 Months Ended	9 Months Ended	12 Months Ended
	Feb. 22, 2022	Dec. 31, 2021	Aug. 13, 2021	Dec. 15, 2017	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Jul. 31, 2023	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		6,319,513	6,250,493
Grant date fair value of nonvested stock					$ 0.8		$ 0.6	$ 0.8
Unrecognized compensation cost related to nonvested stock							$ 0.4
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for future issuance (in shares)							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)							0	0
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense					$ 0.2	$ 0.5	$ 0.6
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares surrendered (in shares)							0
Non vested stock compensation expense							$ 0.6	$ 0.8
Weighted average period of cost expected to be expensed (in years)							8 months 12 days
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of restriction period (in years)							1 year
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of restriction period (in years)							5 years
Director \| Restricted Stock \| Reith v. Lichtenstein
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares surrendered (in shares)			353,571
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)										529,821
Common stock shares available for future issuance (in shares)							739,265
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 \| Director \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award vested (in shares)				428,571
2010 Plan \| Director \| Market Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award granted (in shares)				160,714
Restricted stock award vested (in shares)									107,142
2010 Plan \| Nonemployee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares surrendered (in shares)	353,571	353,571

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, 2024
Other Income and Expenses [Abstract]
Foreign currency exchange (losses) gains, net	$ 446	$ (510)	$ (154)
Other gains, net	5,242	4,471	930
Other gains (losses), net	$ 5,688	$ 3,961	$ 776

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross (excluding goodwill)	$ 35,500	$ 35,500
Accumulated Amortization	4,464	911
Total	31,036	34,589
Trade name
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	10,500	10,500
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	25,000	25,000
Accumulated Amortization	4,464	911
Net	$ 20,536	$ 24,089

- 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

SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Jul. 31, 2024

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, 2024, is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
	(Share amounts in thousands)
Nonvested stock outstanding, July 31, 2023	54	$	10.97
Granted	70	10.43
Vested	(55)	10.97
Forfeited	—	—
Nonvested stock outstanding, July 31, 2024	69	$	10.43

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Jul. 31, 2024	Oct. 23, 2024	Jan. 31, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--07-31
Document Period End Date	Jul. 31, 2024
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.32nd Floor
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
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	STCN
Security Exchange Name	NASDAQ
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
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 36.3
Entity Common Stock, Shares Outstanding		6,335,641
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 2024 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	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0000914712

SHARE-BASED PAYMENTS - Summary of Activity of Nonvested Stock (Detail) - Restricted Stock shares in Thousands	12 Months Ended
	Jul. 31, 2024 $ / shares shares
Number of Shares
Nonvested stock outstanding, beginning balance (in shares) \| shares	54
Granted (in shares) \| shares	70
Vested (in shares) \| shares	(55)
Forfeited (in shares) \| shares	0
Nonvested stock outstanding, ending balance (in shares) \| shares	69
Weighted-Average Grant Date Fair Value
Nonvested stock outstanding, beginning balance (in usd per shares) \| $ / shares	$ 10.97
Granted (in usd per shares) \| $ / shares	10.43
Vested (in usd per shares) \| $ / shares	10.97
Forfeited (in usd per shares) \| $ / shares	0
Nonvested stock outstanding, ending balance (in usd per shares) \| $ / shares	$ 10.43

SEGMENT INFORMATION - Additional Information (Detail)	12 Months Ended
SEGMENT INFORMATION - Additional Information (Detail)	Jul. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1

DEFINED BENEFIT PENSION PLANS - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Retirement Benefits [Abstract]
Service cost	$ 0	$ 10
Interest costs	789	679
Expected return on plan assets	(652)	(574)
Amortization of net actuarial loss	6	9
Net periodic pension costs	$ 143	$ 124
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

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jul. 31, 2024
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 certain current and former directors of the Company, 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 and several of its affiliated companies (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 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 “First Stipulation”) incorporating the terms of the MOU was filed with the Court on February 18, 2022. Pursuant to the MOU and First 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 $2.8 million in cash. The Company's insurance carrier agreed to pay $1.7 million and Steel Holdings' insurance carrier agreed to pay $1.1 million of the settlement. 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 353,571 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, 196,429 vested shares and 32,143 unvested shares; for Mr. Howard, 98,214 vested shares and 16,071 unvested shares; and for Mr. Fejes, 10,714 vested shares. On August 17, 2021, Mr. Lichtenstein and Mr. Howard surrendered the shares required under the MOU, the First 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 First 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. On September 23, 2022, the court ruled that it was denying approval of the settlement as described in the First Stipulation. 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. On April 8, 2024, the Company, the Defendants and Mr. Reith entered into a memorandum of understanding contemplating the settlement of the Reith litigation. On October 18, 2024, the Company, Plaintiff, and Defendants entered into a Stipulation and Agreement of Compromise, Settlement and Release (the “Second Stipulation”) to resolve the Reith litigation (the “Proposed Settlement”). If the Proposed Settlement is approved by the Court, (i) the Defendants shall cause their insurers to make a cash payment of $6.0 million to the Company and, after deducting any Court-approved award of attorneys’ fees to Plaintiff's counsel and certain litigation expenses, the Company shall distribute the balance of the cash payment, by way of a special divided or other distribution, to the holders of the Company’s common stock pursuant to the allocation provisions set forth in the previously disclosed Stockholders Agreement dated April 30, 2023 by and among the Company, Steel Partners Holdings L.P., and other stockholders signatory thereto (the “Stockholders’ Agreement”) as amended by the Proposed Settlement; (ii) the Company will adopt certain amendments to the Stockholders’ Agreement; and (iii) the Company will adopt certain corporate governance policies and practices, including a formal review process for compensation clawbacks, enhancing the process for granting equity awards and keeping records of equity awards granted under the Company’s stock plans, further enhancing board committee independence, and reducing the materiality threshold for review of related party transactions under the Stockholders' Agreement. The Proposed Settlement requires Court approval, and there can be no assurances that such approval will be granted. The Proposed Settlement, if approved by the Court, will cause the dismissal, with prejudice, of the Reith litigation and the release of claims against the parties to the Proposed Settlement as described in the Second Stipulation. On December 12, 2023, the Company received books and records demand, similar to the demand from Reith, from another purported shareholder. The possible liability, if any, with respect to this matter 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 and Steel Holdings and certain of its affiliates 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 Convertible Preferred Stock issuance had on the plaintiff’s holdings. Remedies requested in the complaint include rescission of the Series E Convertible Preferred Stock 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. On April 18, 2024, in order to avoid the cost and uncertainty of litigation, Messrs. Lichtenstein and Howard, Steel Holdings, Steel Excel and WebFinancial, without admitting any wrongdoing, entered into a Settlement Agreement and Securities Purchase Agreements (the "SPAs") with the Estate of Mohammad Ladjevardian and certain parties related to Mohammad Ladjevardian (the "Ladjevardian Parties"). Pursuant to the SPAs, a Steel Holdings subsidiary purchased an aggregate of 701,246 shares of the Company’s common stock held by the Ladjevardian Parties at a price of $9.83 per share, which represented the closing market price of the shares on April 17, 2024 and made an aggregate cash settlement payment of $1.5 million to the Ladjevardian Parties.

INVESTMENTS - Schedule of Investment (Details) £ in Millions		3 Months Ended
	Oct. 13, 2023 GBP (£)	Apr. 30, 2024 USD ($)	Jul. 31, 2024 USD ($)	Oct. 13, 2023 USD ($)	Oct. 13, 2023 GBP (£)	Jul. 31, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Convertible loan note investment		$ 0	$ 0	$ 1,200,000	£ 1.0
Investments in equity securities			41,376,000
Investments			$ 41,376,000			$ 0
Payments to acquire debt securities, available-for-sale \| £	£ 1.0
Debt securities, available-for-sale, interest rate, stated percentage				11.00%	11.00%
Debt securities, available-for-sale, loan principal \| £					£ 20.0
Debt securities, available-for-sale, ownership interest percentage				5.00%	5.00%
Debt securities, available-for-sale, realized loss		$ 1,200,000

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

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- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

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+ Details

PROPERTY AND EQUIPMENT

12 Months Ended

Jul. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment at cost, consists of the following:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Machinery and equipment	3,075		1,388
Leasehold improvements	2,027		606
Software	1,595		1,133
Computer hardware	740		400
Other	519		627
	7,956		4,154
Less: accumulated depreciation and amortization	(2,420)		(456)
Property and equipment, net	$	5,536	$	3,698

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.

OTHER GAINS, NET

12 Months Ended

Jul. 31, 2024

Other Income and Expenses [Abstract]

OTHER GAINS, NET

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Foreign currency exchange (losses) gains, net	$	(154)	$	446	$	(510)

Other gains, net	930		5,242		4,471
	$	776	$	5,688	$	3,961

Other gains, net for the fiscal year ended July 31, 2024 is primarily made up of $1.4 million grant income, offset partially by net realized/unrealized losses on investments and the SPHG Note.

Other gains, net for the May 1 to July 31, 2023 Successor Period is primarily made up of $5.1 million net realized gains recognized on the disposition of the Aerojet shares. See Note 4 - "Prepaid Expenses and Other Current Assets" 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 and (2) $1.4 million settlement with a client.

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, 2024
Segment Reporting Information [Line Items]
Capital expenditures	$ 807	$ 1,311	$ 3,965
Depreciation	456	1,427	1,826
Operating Segments \| Supply Chain
Segment Reporting Information [Line Items]
Capital expenditures	807	1,311	3,965
Depreciation	$ 456	$ 1,427	$ 1,826

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, 2024	Jan. 31, 2024	Jul. 31, 2023
SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	$ 12,903	$ 12,900
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	235,221		$ 85,269
7.50% Convertible Senior Note due September 1, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	41,376
SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure			12,461
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	235,221		85,269
Level 1 \| 7.50% Convertible Senior Note due September 1, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Level 1 \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	41,376
Level 1 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure			0
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 2 \| 7.50% Convertible Senior Note due September 1, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Level 2 \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Level 2 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure			0
Level 3 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure	12,903
Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0		0
Level 3 \| 7.50% Convertible Senior Note due September 1, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0
Level 3 \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 0
Level 3 \| SPHG Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, fair value disclosure			$ 12,461

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Payables and Accruals [Abstract]
Accrued compensation	$ 6,504	$ 6,891
Accrued audit, tax and legal	3,909	5,696
Accrued price concessions	2,312	2,981
Accrued taxes	1,863	2,811
Accrued occupancy costs	1,803	1,412
Accrued IT costs	727	831
Accrued other	4,541	6,152
Total accrued expenses	$ 21,659	$ 26,774

SEGMENT INFORMATION (Tables)

12 Months Ended

Jul. 31, 2024

Segment Reporting [Abstract]

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

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Net revenue:
Supply Chain	$	174,109	$	40,804	$	148,283
Total segment net revenue	$	174,109	$	40,804	$	148,283
Operating income:
Supply Chain	13,739		3,328		16,488

Corporate-level activity	(6,278)		(1,707)		(9,699)
Total operating income	7,461		1,621		6,789
Total other income	13,496		6,130		2,301
Income before income taxes	$	20,957	$	7,751	$	9,090

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Capital expenditures	$	3,965	$	807	$	1,311
Depreciation expense	1,826		456		1,427

Total Assets of Continuing Operations


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Total assets:
Supply Chain	$	149,198	$	146,614
Corporate	336,430		264,567
Total assets	$	485,628	$	411,181

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
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
			(In thousands)
Mainland China	$	61,339	$	14,649	$	48,049
United States	40,860		8,800		38,262
Netherlands	21,720		5,774		15,149
Singapore	17,144		4,448		14,940
Czech	14,320		3,336		19,497
Other	18,726		3,797		12,386
Total consolidated net revenue	$	174,109	$	40,804	$	148,283

EXCHANGE TRANSACTION - Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Exchange Transaction (Details) - SPLP - USD ($) $ in Thousands	May 01, 2023	Apr. 30, 2023
Related Party Transaction [Line Items]
Estimated fair value of identifiable intangible assets	$ 35,500	$ 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

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated (Deficit) Earnings	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Jul. 31, 2022		6,485,309
Beginning 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	7,460			7,460
Preferred dividends	(1,593)			(1,593)
Restricted stock award granted (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
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		(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	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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	87,980			87,980
Preferred dividends	(2,135)			(2,135)
Restricted stock grants (in shares)		69,020
Share-based compensation	632		632
Other comprehensive items	$ (920)				(920)
Balance (in shares) at Jul. 31, 2024	6,319,513	6,319,513
Ending balance at Jul. 31, 2024	$ 154,181	$ 65	$ 62,166	$ 93,457	$ (1,507)

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Schedule of Estimated Future Amortization Expense of Intangible Assets (Detail) $ in Thousands	Jul. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 3,571
2026	3,571
2027	3,571
2028	3,571
2029	3,571
Thereafter	$ 2,681

SEGMENT INFORMATION - Total Assets of Continuing Operations (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 485,628	$ 411,181
Corporate-level activity
Segment Reporting Information [Line Items]
Total assets	336,430	264,567
Supply Chain \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 149,198	$ 146,614

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

OTHER GAINS, NET (Tables)

12 Months Ended

Jul. 31, 2024

Other Income and Expenses [Abstract]

Components of Other Gains, Net

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Foreign currency exchange (losses) gains, net	$	(154)	$	446	$	(510)

Other gains, net	930		5,242		4,471
	$	776	$	5,688	$	3,961

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Jul. 31, 2024

Schedule of Management Service Agreement Expense


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Management services agreement expenses	$	2,936	$	617	$	1,736

DEBT (Tables)

12 Months Ended

Jul. 31, 2024

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
	July 31, 2024		July 31, 2023
	(In thousands)
Unsecured
7.50% Convertible Senior Note due September 1, 2024	$	12,903	$	12,461
Credit Facilities
Umpqua Revolver	—		—
Total debt, net	$	12,903	$	12,461

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

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
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Interest expense related to contractual interest coupon on the SPHG Note	$	996	$	261	$	844
Interest expense related to accretion of the discount on the SPHG Note(a)	—		—		1,688
Interest expense related to revolving credit facilities (see below)	—		—		36
Other	—		4		20
Total interest expense	$	996	$	265	$	2,588

- 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.

+ References

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jul. 31, 2024
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 and inventory; (3) the valuation of goodwill, indefinite-lived intangible assets, and 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 and fulfillment 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. For certain customer contracts, the Company recognizes the sale of certain inventoriable goods at a point in time when control of those goods is transferred to clients. However, for sales recognized at a point in time, the timing of recognition is not significantly different than over time. 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 evaluates whether it is acting as the principal or the agent in the transaction. This determination requires significant judgment and impacts the amount and timing of revenue recognized. The Company determines whether it is a principal or an agent, which is dependent on whether the Company has control of the specified goods or services before they are transferred to the customer, whether the Company is primarily responsible for fulfillment, whether the Company has inventory risk and whether the Company has latitude 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 it’s 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	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 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.
Investments	Investments Long-term investments consist of debt and equity securities. The Company determines the appropriate classifications of its investments at the acquisition date and re-evaluates the classifications at each balance sheet date. Equity securities that do not result in consolidation and are not accounted for under the equity method are measured at fair value, with any changes recognized in Other (losses) gains, net in the consolidated statements of operations in accordance with Accounting Standards Codification ("ASC") Topic 321, Investments - Equity Securities. The Company uses quoted market prices to determine the fair value of equity securities with readily determinable fair value. Available-for-sale debt securities are reported at fair value, with unrealized gains and losses recognized in accumulated other comprehensive income or loss as a separate component of the Company's stockholders' equity in accordance with ASC Topic 320, Investments - Debt Securities. To the extent that debt securities meet the definition of a hybrid security under ASC 815, Derivatives and Hedging, the Company may elect the fair value option under ASC 825, Financial Instruments to measure the entire hybrid instrument, with changes in fair value recorded in the Company's consolidated statements of operations.
Fair Value Measurements	Fair Value Measurements The Company measures certain assets and liabilities at fair value. 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. ASC 820, Fair Value Measurement, provides that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. ASC 820 requires the Company to use valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows: Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants would price the assets or liabilities 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's assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets and goodwill and other intangible assets. 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, and restricted cash, 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.
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	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	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. Goodwill and Other Intangible Assets, Net Goodwill, which is not amortized, represents the difference between the purchase price and the fair value of identifiable net assets acquired in a business combination. Goodwill is tested for impairment at a reporting unit level, and all of the Company’s goodwill is assigned to its reporting units. Reporting units are determined based upon the Company’s organizational structure in place at the date of the goodwill impairment testing and are generally one level below the operating segment level. The Company tests goodwill annually for impairment, and additionally on an interim basis, if events occur or circumstances change that would indicate the carrying amount may be impaired. Examples of such events would include pertinent macroeconomic conditions, industry and market considerations, overall financial performance and other factors. An entity can choose between using a qualitative impairment test often referred to as “Step 0” or a quantitative impairment test often referred to as “Step 1”. For the Step 0 approach, an entity may assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. An entity has an unconditional option to bypass the Step 0 assessment for any reporting unit in any period and proceed directly to performing a Step 1 of the goodwill impairment test. An entity may resume performing the Step 0 assessment in any subsequent period. For the Step 1 approach, which is a quantitative approach, the Company will calculate the fair value of a reporting unit and compare it to its carrying amount. There are several methods that may be used to estimate a reporting unit's fair value, including the income approach, the market approach and/or the cost approach. The amount of impairment, if any, is determined by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge based on the amount that the carrying amount exceeds the reporting unit's fair value. The loss recognized should not exceed the total goodwill allocated to the reporting unit. For finite-lived intangible assets, the Company evaluates the carrying amount of such assets when circumstances indicate the carrying amount may not be recoverable. Conditions that could have an adverse impact on the cash flows and fair value of the long-lived assets are deteriorating business climate, condition of the asset or plans to dispose of the asset before the end of its useful life. If the assets' carrying amounts exceed the sum of the undiscounted cash flows, an impairment charge is recognized in the amount by which the carrying amounts exceeds their fair values. The Company performs such assessments at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities, which is generally at the plant level, operating company level or the reporting unit level, depending on the level of interdependencies in the Company's operations. Indefinite-lived intangible assets are tested for impairment at least annually, or when events or changes in circumstances indicate that it is more likely than not that the asset is impaired. Companies can use the same two testing approaches for indefinite-lived intangibles as for goodwill. The Company’s annual impairment test date is June 1st each year. There were no impairments of goodwill or other intangible assets during the fiscal years ended July 31, 2024 or 2023.
Property and Equipment	Property and Equipment Property 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, 2024 and July 31, 2023 was 5.5% and 5.2%, respectively. There were no finance leases as of the year ended July 31, 2024 or 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.
Pension Plans	Pension Plans The Company sponsors defined benefit pension plans covering certain of its employees in the Netherlands and previously sponsored a plan in Japan, which was terminated during the fiscal year ended July 31, 2024 as part of ceasing operations in 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 ("EPS") 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 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 Risk 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.
Accounting Standards Issued and Not Yet Implemented	Accounting Standards Issued and Not Yet Implemented In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The new guidance requires disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a quantitative threshold. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with early adoption and retrospective application permitted. This guidance will be effective for the Company beginning in the fourth quarter in the fiscal year ending July 31, 2026. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statement disclosures; however, adoption is not expected to impact its consolidated balance sheets or statement of operations. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss to assess potential future cash flows for each reportable segment and the entity as a whole. The new guidance requires a public entity to disclose significant expenses and other segment items that are regularly reported to the chief operating decision maker ("CODM") and the nature of segment expense information used to manage operations. Additionally, it requires a public entity to disclose the title and position of the CODM. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new guidance is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. This guidance will be effective for the Company beginning in the fourth quarter in the fiscal year ending July 31, 2025. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statement disclosures; however, adoption is not expected to impact its consolidated balance sheets or statements of operations. 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, 2024 are not expected to have a material impact on our financial condition, results of operations or liquidity.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024
Pay vs Performance Disclosure
Net income	$ 8,149	$ 7,460	$ 87,980

- Definition

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

+ References

+ Details

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Jul. 31, 2024
Auditor Information [Abstract]
Auditor name	Deloitte & Touche LLP
Auditor location	New York, NY
Auditor firm ID	34

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jul. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment at Cost

Property and equipment at cost, consists of the following:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Machinery and equipment	3,075		1,388
Leasehold improvements	2,027		606
Software	1,595		1,133
Computer hardware	740		400
Other	519		627
	7,956		4,154
Less: accumulated depreciation and amortization	(2,420)		(456)
Property and equipment, net	$	5,536	$	3,698

DEFINED BENEFIT PENSION PLANS - Schedule of Defined Benefit Plan Assets Fair Value Measurements (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 17,959	$ 15,314	$ 17,976
Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 17,959	$ 15,314
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	17,959	15,314
Fair Value, Measurements, Recurring \| Insurance contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 17,516	$ 14,926
Asset Allocations	98.00%	97.00%
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	17,516	14,926
Fair Value, Measurements, Recurring \| Other investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 443	$ 388
Asset Allocations	2.00%	3.00%
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	$ 443	$ 388

- 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

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, 2024
Income Tax Disclosure [Abstract]
Computed "expected" income tax expense (benefit)	$ 1,627	$ 1,909	$ 4,401
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	(350,469)	(424)	(77,845)
Foreign tax rate differential	(255)	(50)	(166)
Nondeductible expenses	459	0	29
Foreign withholding taxes	245	147	(157)
Foreign other adjustments	(246)	0	167
Tax basis in excess of financial basis for intangible and fixed assets	1,141	0	944
Change in uncertain tax position reserves	(430)	11	(259)
Section 78 gross-up	0	0	270
State income taxes, net of federal benefit	(1,916)	37	869
Expiration of net operating loss	347,462	0	5,027
Deferred true-up	1,786	0	(361)
Other	198	0	58
Total tax (benefit) provision	$ (398)	$ 1,630	$ (67,023)

EXCHANGE TRANSACTION (Tables)

12 Months Ended

Jul. 31, 2024

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 previously held interest in Steel Connect and 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 calculation of goodwill and fair value amounts recognized in the Exchange Transaction, as well as final fair value allocations reflecting adjustments made during the measurement period:


(in thousands)	Initial Estimate		Measurement Period Adjustments		Final Allocation
Assets
Accounts receivable, trade	$	36,900	$	—	$	36,900
Inventories, net	6,900		—		6,900
Prepaid expenses and other current assets	4,957		—		4,957
Other intangible assets	35,500		—		35,500
Other assets	3,900		—		3,900
Property and equipment, net	3,400		—		3,400
Operating lease right-of-use assets	29,250		—		29,250
Investments	202,733		—		202,733
Estimated fair value of total assets acquired by Steel Holdings	323,540		—		323,540
Liabilities
Accounts payable	26,300		—		$	26,300
Accrued expenses	29,100		(3,082)		26,018
Current lease obligations	7,994		—		7,994
Other current liabilities	7,236		—		7,236
Long-term lease obligations	21,300		—		21,300
Other long-term liabilities	5,742		—		5,742
Estimated fair value of total liabilities assumed by Steel Holdings	97,672		(3,082)		94,590
Fair value of identifiable net assets	225,868		3,082		228,950
Goodwill attributable to Steel Connect	$	22,785	$	(3,082)	$	19,703

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

DEBT - Summary of the Components of Debt (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Feb. 28, 2019
Debt Instrument [Line Items]
Total debt, net	$ 12,903	$ 12,461
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	$ 12,903	$ 12,461
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc
Debt Instrument [Line Items]
Debt instrument stated percentage			7.50%

- 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
-Topic 835
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-Name Accounting Standards Codification
-Section 55
-Paragraph 8
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1B
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

- Definition

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

+ References + Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Class of Stock [Line Items]
Prepaid expenses	$ 2,421	$ 2,217
Other current assets	2,041	1,969
Prepaid expenses and other current assets	4,462	158,686
Aerojet Share
Class of Stock [Line Items]
Aerojet common stock proceeds receivable	$ 0	$ 154,500

- 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

COMMITMENTS AND CONTINGENCIES - Narrative (Detail) - USD ($) $ / shares in Units, $ in Thousands					12 Months Ended
	Apr. 17, 2024	Feb. 18, 2022	Aug. 13, 2021	Dec. 15, 2017	Jul. 31, 2024	Apr. 08, 2024
Restricted Stock
Commitments and Contingencies [Line Items]
Number of shares surrendered (in shares)					0
Reith v. Lichtenstein
Commitments and Contingencies [Line Items]
Cash paid to plaintiff			$ 2,800
Legal fees		$ 2,050
Gain contingency, unrecorded amount						$ 6,000
Reith v. Lichtenstein \| Director \| Restricted Stock
Commitments and Contingencies [Line Items]
Number of shares surrendered (in shares)			353,571
Reith v. Lichtenstein \| Director \| Restricted Stock \| Warren Lichtenstein
Commitments and Contingencies [Line Items]
Number of vested shares surrendered			196,429
Number of nonvested shares surrendered			32,143
Reith v. Lichtenstein \| Director \| Restricted Stock \| Jack Howard
Commitments and Contingencies [Line Items]
Number of vested shares surrendered			98,214
Number of nonvested shares surrendered			16,071
Reith v. Lichtenstein \| Director \| Restricted Stock \| William Fejes
Commitments and Contingencies [Line Items]
Number of vested shares surrendered			10,714
Reith v. Lichtenstein \| Steel Connect, Inc.
Commitments and Contingencies [Line Items]
Cash paid to plaintiff			$ 1,700
Reith v. Lichtenstein \| Steel Holding
Commitments and Contingencies [Line Items]
Cash paid to plaintiff			$ 1,100
Mohammad Ladjevardian v. Warren G. Lichtenstein, et al.
Commitments and Contingencies [Line Items]
Stock repurchased during period, shares (in shares)	701,246
Price per share (in usd per share)	$ 9.83
Payments for legal settlements	$ 1,500
Series C Convertible Preferred Stock \| Purchase Agreement \| SPHG Group Holdings LIc
Commitments and Contingencies [Line Items]
Proceeds from issuance of preferred stock				$ 35,000
Price per share (in usd per share)				$ 1,000

LEASES (Tables)

12 Months Ended

Jul. 31, 2024

Leases [Abstract]

Lease Cost

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Operating lease cost	$	10,481	$	2,565	$	7,538
Short-term lease expense	1,608		444		1,269
Sublease income	(413)		(171)		(786)
Variable lease cost	—		—		7
Interest on finance lease liabilities	—		—		—
	$	11,676	$	2,838	$	8,028

Supplemental cash flow information related to the cash paid for amounts included in measurement of lease liabilities during the fiscal year ended July 31, 2024 and 2023 was as follows:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Operating cash flows from operating leases	$	10,412	$	2,494	$	7,224
Operating cash flows from finance leases	$	—	$	—	$	—
Financing cash flows from finance leases	$	—	$	—	$	38

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, 2024 were as follows:


	Operating Leases
	(In thousands)
2025	$	9,454
2026	6,436
2027	4,443
2028	2,094
2029	546
Thereafter	—
Total lease payments	22,973
Less: imputed interest	1,914
Present value of lease payments	21,059
Less: current lease obligations	8,319
Long-term lease obligations	$	12,740

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, 2024 were as follows:


	Operating Leases
	(In thousands)
2025	$	9,454
2026	6,436
2027	4,443
2028	2,094
2029	546
Thereafter	—
Total lease payments	22,973
Less: imputed interest	1,914
Present value of lease payments	21,059
Less: current lease obligations	8,319
Long-term lease obligations	$	12,740

Additional Lease Information

Additional information related to the Company's leases as of July 31, 2024 was as follows:


Weighted average remaining lease term:
Operating leases	2.9	years


Weighted average discount rate:
Operating leases		5.5%

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Deferred tax assets:
Accruals and reserves	$ 2,667	$ 2,645
Tax basis in excess of financial basis for intangible and fixed assets	166	175
Lease liability	3,031	3,574
Convertible debt	25	0
Research and experiment	43	0
Interest expense disallowance	0	0
Credit carry forwards	25	25
Net operating loss and capital loss carry forwards	85,157	95,832
Total gross deferred tax assets	91,114	102,251
Less: valuation allowance	(12,721)	(90,436)
Net deferred tax assets	78,393	11,815
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	(7,262)	(8,446)
Right-of-use asset	(2,838)	(3,454)
Prepaid expenses	(322)	0
Convertible debt	0	(404)
Total gross deferred tax liabilities	(10,422)	(12,304)
Net deferred tax assets	$ 67,971
Net deferred tax liabilities		$ (489)

DEFINED BENEFIT PENSION PLANS - Summary of Expected Benefit Payments from Plans (Detail) $ in Thousands	Jul. 31, 2024 USD ($)
Retirement Benefits [Abstract]
2025	$ 357
2026	381
2027	405
2028	468
2029	558
Thereafter	$ 3,677

INVENTORIES

12 Months Ended

Jul. 31, 2024

Inventory Disclosure [Abstract]

INVENTORIES

Inventories, net consisted of the following:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Raw materials	$	5,534	$	4,805
Work-in-process	125		239
Finished goods	1,074		3,525
	$	6,733	$	8,569

REVENUE RECOGNITION - Performance Obligations (Details) $ in Millions	Jul. 31, 2024 USD ($)
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	$ 2.2
Unearned revenue, timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue	$ 0.1
Unearned revenue, timing of satisfaction

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Thousands	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024
Lease, Cost [Abstract]
Operating lease cost	$ 2,565	$ 7,538	$ 10,481
Short-term lease expense	444	1,269	1,608
Sublease income	(171)	(786)	(413)
Variable lease cost	0	7	0
Interest on finance lease liabilities	0	0	0
Total lease cost	$ 2,838	$ 8,028	$ 11,676

LEASES - Narrative (Details)	12 Months Ended
LEASES - Narrative (Details)	Jul. 31, 2024
Leases [Abstract]
Remaining lease term	5 years

EARNINGS PER SHARE (Tables)

12 Months Ended

Jul. 31, 2024

Earnings Per Share [Abstract]

Reconciliation of Net Income (Loss) Per Share

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands, except per share data)
Reconciliation of net income to net income attributable to common stockholders after assumed conversions:

Net income	$	87,980	$	8,149	$	7,460
Less: Preferred dividends on Series C preferred stock	(2,135)		(537)		(1,593)
Net income available to common stockholders	85,845		7,612		5,867
Less: Undistributed earnings allocated to participating securities	(65,336)		(5,803)		—
Net income attributable to common stockholders	$	20,509	$	1,809	$	5,867

Effect of dilutive securities:
Interest costs on SPHG Note	$	971	$	—	$	—
Dividends on Series C preferred stock	2,135		537		1,593
Undistributed earnings allocated to Series E preferred stock	65,336		5,803		—
Net income attributable to common stockholders - assuming dilution	$	88,951	$	8,149	$	7,460




Net income per common share - basic	$	3.30	$	0.29	$	0.91




Net income per common share - diluted	$	3.11	$	0.29	$	0.89

Weighted average common shares outstanding - basic	6,218		6,177		6,449
Effect of dilutive securities:
Common stock equivalents - Restricted stock and restricted stock shares	64		60		55
Common stock equivalents - SPHG Note	584		—		—
Common stock equivalents - Series C Preferred Stock	1,913		1,913		1,913
Common stock equivalents - Series E Preferred Stock	19,810		19,810		—
Weighted average common shares outstanding - diluted	28,589		27,960		8,417

NATURE OF OPERATIONS (Detail) - $ / shares	Jul. 31, 2024	Jul. 31, 2023	Jun. 06, 2023	May 01, 2023	Apr. 30, 2023
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
Steel Connect, Inc. \| Steel Connect, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method investment, ownership percentage	50.00%
Steel Partners Group \| Steel Connect, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method investment, ownership percentage	89.70%
Equity method investment, exclusion of if-converted shares, ownership percentage	89.50%
Steel Partners Group \| Steel Connect, Inc. \| Steel Connect, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method investment, ownership percentage				84.00%
Equity method investment, exclusion of if-converted shares, ownership percentage				83.80%
7.50% Convertible Senior Note due September 1, 2024 \| Steel Partners Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument stated percentage				7.50%
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
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

DEFINED BENEFIT PENSION PLANS - Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost (Detail)	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Retirement Benefits [Abstract]
Discount rate	3.50%	3.91%
Expected long-term rate of return on plan assets	3.50%	3.88%
Rate of compensation increase	0.00%	0.00%

EARNINGS PER SHARE

12 Months Ended

Jul. 31, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Earnings 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 per share amounts have been retroactively restated for all periods presented for the Reverse/Forward Stock Split. The following table reconciles net income per share for the periods below:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands, except per share data)
Reconciliation of net income to net income attributable to common stockholders after assumed conversions:

Net income	$	87,980	$	8,149	$	7,460
Less: Preferred dividends on Series C preferred stock	(2,135)		(537)		(1,593)
Net income available to common stockholders	85,845		7,612		5,867
Less: Undistributed earnings allocated to participating securities	(65,336)		(5,803)		—
Net income attributable to common stockholders	$	20,509	$	1,809	$	5,867

Effect of dilutive securities:
Interest costs on SPHG Note	$	971	$	—	$	—
Dividends on Series C preferred stock	2,135		537		1,593
Undistributed earnings allocated to Series E preferred stock	65,336		5,803		—
Net income attributable to common stockholders - assuming dilution	$	88,951	$	8,149	$	7,460




Net income per common share - basic	$	3.30	$	0.29	$	0.91




Net income per common share - diluted	$	3.11	$	0.29	$	0.89

Weighted average common shares outstanding - basic	6,218		6,177		6,449
Effect of dilutive securities:
Common stock equivalents - Restricted stock and restricted stock shares	64		60		55
Common stock equivalents - SPHG Note	584		—		—
Common stock equivalents - Series C Preferred Stock	1,913		1,913		1,913
Common stock equivalents - Series E Preferred Stock	19,810		19,810		—
Weighted average common shares outstanding - diluted	28,589		27,960		8,417

The Company calculates basic and diluted net income 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 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 per common share is computed by dividing net income attributable to common stockholders for the period by the weighted average number of common shares outstanding for the period. Net income attributable 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 net income 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 August 1, 2022 to April 30, 2023 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.

The below details certain exclusions from the calculation of diluted net income per share for the fiscal year ended July 31, 2024, 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:

No exclusions were required from the calculation of diluted net income per share for the fiscal year ended July 31, 2024, as all securities were considered dilutive.

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 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, $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 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.

STOCKHOLDERS' EQUITY - Narrative (Detail) $ / shares in Units, $ in Millions	Dec. 15, 2017 USD ($) trading_day vote $ / shares shares	Jul. 31, 2024 $ / shares shares	Jul. 31, 2023 $ / shares shares	Jun. 21, 2023 $ / shares	Jun. 06, 2023 $ / shares shares	May 01, 2023 shares	Apr. 30, 2023 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 usd per share)		$ 58.1087
Number of votes per share \| vote	1
Steel Connect, Inc. \| Steel Connect, Inc.
Equity [Line Items]
Equity method investment, ownership percentage		50.00%
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 \| trading_day	5
Series C Convertible Preferred Stock \| Purchase Agreement \| SPHG Group Holdings LIc
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

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, 2024
Segment Reporting Information [Line Items]
Net revenue	$ 40,804	$ 148,283	$ 174,109
Mainland China
Segment Reporting Information [Line Items]
Net revenue	14,649	48,049	61,339
United States
Segment Reporting Information [Line Items]
Net revenue	8,800	38,262	40,860
Netherlands
Segment Reporting Information [Line Items]
Net revenue	5,774	15,149	21,720
Singapore
Segment Reporting Information [Line Items]
Net revenue	4,448	14,940	17,144
Czech
Segment Reporting Information [Line Items]
Net revenue	3,336	19,497	14,320
Other
Segment Reporting Information [Line Items]
Net revenue	$ 3,797	$ 12,386	$ 18,726

- Definition

+ References

+ Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Jul. 31, 2024

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
	July 31, 2024		July 31, 2023
	(In thousands)
Aerojet common stock proceeds receivable	$	—	$	154,500
Prepaid expenses	2,421		2,217
Other current assets	2,041		1,969
	$	4,462	$	158,686

DEFINED BENEFIT PENSION PLANS - Narrative (Detail)	1 Months Ended	12 Months Ended
DEFINED BENEFIT PENSION PLANS - Narrative (Detail)	Jul. 31, 2023 USD ($)	Jul. 31, 2025 USD ($)	Jul. 31, 2024 USD ($) pension_plan	Jul. 31, 2023 USD ($)	Jul. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Pre-tax curtailment gain					$ 2,400,000
Adjustment related to unconditional indexation of benefits			$ 0	$ 1,077,000
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		$ 700,000
Netherlands
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| pension_plan			2
Unfunded Defined Benefit Pension Plans \| Japan
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans \| pension_plan			1

INVENTORIES (Tables)

12 Months Ended

Jul. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories, net consisted of the following:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Raw materials	$	5,534	$	4,805
Work-in-process	125		239
Finished goods	1,074		3,525
	$	6,733	$	8,569

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, 2024
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 40,804	$ 148,283	$ 174,109
Supply chain management services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	40,467	147,185	172,628
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	337	1,098	1,481
Services transferred over time \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 40,804	$ 148,283	$ 174,109

- 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

+ References

+ Details

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, 2024
Cash flows from operating activities:
Net income	$ 8,149	$ 7,460	$ 87,980
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	456	1,427	1,826
Amortization of intangible assets	911	0	3,554
Amortization of deferred financing costs	0	36	0
Accretion of debt discount	0	1,688	0
Share-based compensation	236	529	632
Deferred taxes	(250)	0	(68,470)
Non-cash lease expense	2,208	6,760	9,193
Bad debt (recovery) expense	(297)	1,136	(46)
Other gains, net	(5,687)	(3,962)	661
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	(5,089)
Inventories, net	(1,567)	1,440	1,608
Prepaid expenses and other current assets	905	(1,237)	(416)
Accounts payable and accrued expenses	(1,690)	(3,886)	(2,477)
Refundable and accrued income taxes, net	(214)	(829)	(134)
Other assets and liabilities	(11,125)	(4,495)	(6,974)
Net cash provided by operating activities	8,523	9,000	21,848
Cash flows from investing activities:
Additions to property and equipment	(807)	(1,311)	(3,965)
Proceeds from the disposition of property and equipment	1	166	9
Proceeds from the sale of securities	53,644	1,881	157,915
Purchases of investments	0	0	(45,377)
Net cash provided by investing activities	52,838	736	108,582
Cash flows from financing activities:
Series C redeemable preferred stock dividend payments	(537)	(1,593)	(2,135)
Payment of deferred financing costs	0	(149)	0
Repayments on capital lease obligations	0	(38)	0
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)	(2,135)
Net effect of exchange rate changes on cash and cash equivalents	(29)	895	(508)
Net increase (decrease) in cash, cash equivalents and restricted cash	57,507	7,851	127,787
Cash, cash equivalents and restricted cash, beginning of period	65,896	58,045	123,403
Cash, cash equivalents and restricted cash, end of period	$ 123,403	$ 65,896	$ 251,190

INVESTMENTS - Schedule of Unrealized Gain (Loss) on Investments (Details) $ in Thousands	12 Months Ended
	Jul. 31, 2024 USD ($)
Investments, Debt and Equity Securities [Abstract]
Net gains recognized during the period on equity securities	$ 989
Less: Net gains recognized during the period on equity securities sold during the period	453
Unrealized net gains recognized during the period on equity securities still held at the end of the period	$ 536

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property Plant and Equipment (Detail)	Jul. 31, 2024
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

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, 2024
Related Party \| Steel Services Ltd
Related Party Transaction [Line Items]
Management services agreement expenses	$ 617	$ 1,736	$ 2,936

DEFINED BENEFIT PENSION PLANS - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail)	Jul. 31, 2024	Jul. 31, 2023
Retirement Benefits [Abstract]
Discount rate	3.50%	4.21%
Rate of compensation increase	0.00%	0.00%

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Apr. 30, 2024	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Jul. 31, 2023	Jan. 31, 2024
Defined Benefit Plan Disclosure [Line Items]
Investments, fair value disclosure	$ 0
Debt securities, available-for-sale, unrealized gain (loss)					$ 0
Long-Term Debt
Defined Benefit Plan Disclosure [Line Items]
Fair value, liability, recurring basis, still held, unrealized gain (loss)		$ (500)	$ 0	$ (400)
SPHG Note
Defined Benefit Plan Disclosure [Line Items]
Change in fair value				442
Convertible Loan Note Investment
Defined Benefit Plan Disclosure [Line Items]
Change in fair value	$ (1,200)			(1,227)
Fair Value, Measurements, Recurring \| SPHG Note
Defined Benefit Plan Disclosure [Line Items]
Liabilities, fair value disclosure				$ 12,903		$ 12,900
Money market funds \| Fair Value, Measurements, Recurring
Defined Benefit Plan Disclosure [Line Items]
Assets, fair value disclosure, understated amount					$ 54,200

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Jul. 31, 2023
Goodwill [Line Items]
Goodwill	$ 22,785		$ 19,703	$ 22,785
Amortization of intangible assets	$ 911	$ 0	$ 3,554	$ 900
Trade name
Goodwill [Line Items]
Intangible assets, percentage of fair value in excess of carrying amount			10.00%
Supply Chain
Goodwill [Line Items]
Goodwill			$ 19,700
Reporting unit, percentage of fair value in excess of carrying amount			12.00%

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

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

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ 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/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: 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/1943274/2147482573/350-20-50-1A

+ Details

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 5,534	$ 4,805
Work-in-process	125	239
Finished goods	1,074	3,525
Inventory, net	$ 6,733	$ 8,569

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, 2024
Cash Flow, Lessee [Abstract]
Operating cash flows from operating leases	$ 2,494	$ 7,224	$ 10,412
Operating cash flows from finance leases	0	0	0
Financing cash flows from finance leases	$ 0	$ 38	$ 0

LEASES - Lease Commitments (Details) $ in Thousands	Jul. 31, 2024 USD ($)
Operating Leases
2025	$ 9,454
2026	6,436
2027	4,443
2028	2,094
2029	546
Thereafter	0
Total lease payments	22,973
Less: imputed interest	1,914
Present value of lease payments	$ 21,059
Operating lease, liability, current, statement of financial position	Current lease obligations
Less: current lease obligations	$ 8,319
Operating lease, liability, noncurrent, statement of financial position	Long-term lease obligations
Long-term lease obligations	$ 12,740

DEBT - Summary of Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jul. 31, 2024	Aug. 01, 2022
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 265	$ 2,588	$ 996
Debt instrument, interest rate, effective percentage		23.00%		27.80%
Umpqua Revolver
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	0	$ 36	0
Other
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	4	20	0
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc
Interest Expense, Debt [Line Items]
Debt instrument, interest expense		2,500
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc \| Interest expense related to contractual interest coupon on the SPHG Note
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	261	844	996
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc \| Interest expense related to accretion of the discount on the SPHG Note
Interest Expense, Debt [Line Items]
Debt instrument, interest expense	$ 0	$ 1,688	$ 0

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, 2024
Current provision (benefit):
Federal	$ 72	$ 487	$ 53
State	(110)	48	(141)
Foreign	(110)	1,095	1,535
Current provision	(148)	1,630	1,447
Deferred (benefit) provision:
Federal	0	0	(62,128)
State	0	0	(6,410)
Foreign	(250)	0	68
Deferred provision	(250)	0	(68,470)
Total tax (benefit) provision	$ (398)	$ 1,630	$ (67,023)

EARNINGS 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	Apr. 30, 2023	Jul. 31, 2024
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income	$ 8,149	$ 7,460	$ 87,980
Less: Preferred dividends on Series C preferred stock	537	1,593	2,135
Net income attributable to common stockholders	7,612	5,867	85,845
Less: Undistributed earnings allocated to participating securities	(5,803)	0	(65,336)
Net income attributable to common stockholders	1,809	5,867	20,509
Interest costs on SPHG Note	0	0	971
Dividends on Series C preferred stock	537	1,593	2,135
Undistributed earnings allocated to Series E preferred stock	5,803	0	65,336
Net income attributable to common stockholders - assuming dilution	$ 8,149	$ 7,460	$ 88,951
Basic net income (loss) per share (in usd per share)	$ 0.29	$ 0.91	$ 3.30
Diluted net income (loss) per share (in usd per share)	$ 0.29	$ 0.89	$ 3.11
Weighted-average number of common units outstanding - basic (in shares)	6,177	6,449	6,218
Common stock equivalents - Restricted stock and restricted stock shares (in shares)	60	55	64
Common stock equivalents - SPHG Note (in shares)	0	0	584
Weighted-average number of common units outstanding - diluted (in shares)	27,960	8,417	28,589
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	1,913
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	19,810

INCOME TAXES

12 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Income before income taxes:
U.S.	$	14,460	$	9,866	$	2,021
Foreign	6,497		(2,115)		7,069
Total income before income taxes	$	20,957	$	7,751	$	9,090

The components of income tax (benefit) expense consist of the following:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Current provision (benefit):
Federal	$	53	$	72	$	487
State	(141)		(110)		48
Foreign	1,535		(110)		1,095
	1,447		(148)		1,630
Deferred (benefit) provision:
Federal	(62,128)		—		—
State	(6,410)		—		—
Foreign	68		(250)		—
	(68,470)		(250)		—
Total tax (benefit) provision	$	(67,023)	$	(398)	$	1,630

As of July 31, 2024, the Company recorded a non-current deferred tax asset of $68.3 million and a non-current deferred tax liability of $0.3 million in "Deferred tax asset" and "Other long-term liabilities", respectively. As of July 31, 2023, the Company recorded a non-current deferred tax asset of $0.3 million and a non-current deferred tax liability of $0.8 million in "Deferred tax asset" and "Other long-term liabilities," respectively. The components of deferred tax assets and liabilities are as follows:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	2,667	$	2,645
Tax basis in excess of financial basis for intangible and fixed assets	166		175
Lease liability	3,031		3,574
Convertible debt	25		—
Research and experiment	43		—
Interest expense disallowance	—		—
Credit carry forwards	25		25
Net operating loss and capital loss carry forwards	85,157		95,832
Total gross deferred tax assets	91,114		102,251
Less: valuation allowance	(12,721)		(90,436)
Net deferred tax assets	$	78,393	$	11,815
Deferred tax liabilities:
Financial basis in excess of tax basis for intangible and fixed assets	$	(7,262)	$	(8,446)
Right-of-use asset	(2,838)		(3,454)
Prepaid expenses	(322)		—
Convertible debt	—		(404)
Total gross deferred tax liabilities	(10,422)		(12,304)
Net deferred tax assets (liabilities)	$	67,971	$	(489)

The net change in the total valuation allowance for the fiscal year ended July 31, 2024 was a decrease of approximately $77.7 million. This decrease is primarily due to release of the U.S. valuation allowance associated with the company’s NOLs. During the fiscal year ended July 31, 2024, the Company reassessed the need for a valuation allowance against its deferred tax assets. As described in Part I, Item 7 "Critical Accounting Estimates - Income Taxes", after considering historical and projected future taxable income and existing taxable temporary differences, the Company determined that it is more likely than not that the deferred tax assets will be realized. As a result, the Company released substantially all of its valuation allowance on the NOLs carried forward after July 31, 2024, other than the valuation allowance relating to approximately $0.9 million of state NOLs that the Company anticipates will expire unutilized. This release of the valuation allowance resulted in a non-cash income tax benefit of $73.4 million for the year ended July 31, 2024, which increased from the income tax benefit of $71.5 million in the third quarter of fiscal year 2024 due to an increase in taxable income that resulted in more NOLs being utilized before their expiration at fiscal year end. A valuation allowance has also been recorded against the gross deferred tax asset in certain foreign subsidiaries because 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, 2023 was a decrease of approximately $390.7 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 percent or more of a corporation's securities over a rolling three year period.

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.

The Company has estimated its fiscal year 2024 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 $321.6 million and $116.1 million, respectively, at July 31, 2024. As of July 31, 2024, approximately $30.8 million of net operating loss carryforwards for federal and state tax purposes expired. $225.0 million of the company's federal net operating losses will expire from the fiscal year ending July 31, 2027 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, 2026 through the fiscal year ended July 31, 2042. The Company has a foreign net operating loss carryforward of approximately $71.3 million, of which $68.8 million has an indefinite carryforward period.

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Computed "expected" income tax expense (benefit)	$	4,401	$	1,627	$	1,909
Increase (decrease) in income tax expense resulting from:
Change in valuation allowance	(77,845)		(350,469)		(424)
Foreign tax rate differential	(166)		(255)		(50)


Nondeductible expenses	29		459		—
Foreign withholding taxes	(157)		245		147
Foreign other adjustments	167		(246)		—
GILTI	944		1,141		—
Change in uncertain tax position reserves	(259)		(430)		11
Section 78 gross-up	270		—		—


State income taxes, net of federal benefit	869		(1,916)		37
Expiration of net operating loss	5,027		347,462		—
Deferred true-up	(361)		1,786		—
Other	58		198		—
Actual income tax (benefit) expense	$	(67,023)	$	(398)	$	1,630

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. As of July 31, 2024 and 2023, the total amount of the liability for unrecognized tax benefits, including interest, related to federal, state and foreign taxes was approximately $0.1 million and $0.4 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 $0.1 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, 2021 through July 31, 2024. 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 2016 through 2023 tax years remain subject to examination in most locations while the Company's 2012 through 2023 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
	July 31, 2024		July 31, 2023
	(In thousands)
Balance as of beginning of year	$	274	$	571


Reductions for lapses in statute of limitations	(189)		(297)

Balance as of end of year	$	85	$	274

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, 2024 and 2023, the Company has not recognized any material interest expense related to uncertain tax positions. As of July 31, 2024 and 2023, the Company had recorded liabilities for increases in interest expense related to uncertain tax positions for an immaterial amount. The Company expects $0.1 million of unrecognized tax benefits and related interest will reverse in the next twelve months.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Schedule of Goodwill (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Goodwill [Line Items]
Goodwill	$ 19,703	$ 22,785
Supply Chain
Goodwill [Line Items]
Gross goodwill	22,785	22,785
Accumulated impairments	0	0
Pushdown accounting adjustment	(3,082)
Goodwill	$ 19,703	$ 22,785

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

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-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

PROPERTY AND EQUIPMENT - At Cost (Detail) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 7,956	$ 4,154
Less: accumulated depreciation and amortization	(2,420)	(456)
Property and equipment, net	5,536	3,698
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	3,075	1,388
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	2,027	606
Software
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,595	1,133
Computer hardware
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	740	400
Other
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 519	$ 627

LEASES

12 Months Ended

Jul. 31, 2024

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 five 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
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Operating lease cost	$	10,481	$	2,565	$	7,538
Short-term lease expense	1,608		444		1,269
Sublease income	(413)		(171)		(786)
Variable lease cost	—		—		7
Interest on finance lease liabilities	—		—		—
	$	11,676	$	2,838	$	8,028

Lease Commitments

The Company's future minimum lease payments required under operating leases that have commenced as of July 31, 2024 were as follows:


	Operating Leases
	(In thousands)
2025	$	9,454
2026	6,436
2027	4,443
2028	2,094
2029	546
Thereafter	—
Total lease payments	22,973
Less: imputed interest	1,914
Present value of lease payments	21,059
Less: current lease obligations	8,319
Long-term lease obligations	$	12,740

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, 2024 was as follows:


Weighted average remaining lease term:
Operating leases	2.9	years


Weighted average discount rate:
Operating leases		5.5%

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, 2024 and 2023 was as follows:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Operating cash flows from operating leases	$	10,412	$	2,494	$	7,224
Operating cash flows from finance leases	$	—	$	—	$	—
Financing cash flows from finance leases	$	—	$	—	$	38

LEASES

Lease Expense

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


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Operating lease cost	$	10,481	$	2,565	$	7,538
Short-term lease expense	1,608		444		1,269
Sublease income	(413)		(171)		(786)
Variable lease cost	—		—		7
Interest on finance lease liabilities	—		—		—
	$	11,676	$	2,838	$	8,028

Lease Commitments

The Company's future minimum lease payments required under operating leases that have commenced as of July 31, 2024 were as follows:


	Operating Leases
	(In thousands)
2025	$	9,454
2026	6,436
2027	4,443
2028	2,094
2029	546
Thereafter	—
Total lease payments	22,973
Less: imputed interest	1,914
Present value of lease payments	21,059
Less: current lease obligations	8,319
Long-term lease obligations	$	12,740

Additional Lease Information

Additional information related to the Company's leases as of July 31, 2024 was as follows:


Weighted average remaining lease term:
Operating leases	2.9	years


Weighted average discount rate:
Operating leases		5.5%

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, 2024 and 2023 was as follows:


	Successor				Predecessor
	Fiscal Year Ended July 31,		May 1 to July 31,		August 1, 2022 to April 30,
	2024		2023		2023
	(In thousands)
Operating cash flows from operating leases	$	10,412	$	2,494	$	7,224
Operating cash flows from finance leases	$	—	$	—	$	—
Financing cash flows from finance leases	$	—	$	—	$	38

STOCKHOLDERS' EQUITY	12 Months Ended
STOCKHOLDERS' EQUITY	Jul. 31, 2024
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 24 - "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.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

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, 2024
Income Statement [Abstract]
Net revenue	$ 40,804	$ 148,283	$ 174,109
Cost of revenue	29,749	108,031	125,616
Gross profit	11,055	40,252	48,493
Operating expenses:
Selling, general and administrative	8,523	33,463	37,478
Amortization	911	0	3,554
Total operating expenses	9,434	33,463	41,032
Operating income	1,621	6,789	7,461
Other income (expense):
Interest income	707	928	13,716
Interest expense	(265)	(2,588)	(996)
Other gains, net	5,688	3,961	776
Total other income	6,130	2,301	13,496
Income before income taxes	7,751	9,090	20,957
Income tax (benefit) expense	(398)	1,630	(67,023)
Net income	8,149	7,460	87,980
Less: Preferred dividends on redeemable preferred stock	(537)	(1,593)	(2,135)
Net income attributable to common stockholders	$ 7,612	$ 5,867	$ 85,845
Net income per share - basic (in usd per share)	$ 0.29	$ 0.91	$ 3.30
Net income per share - diluted (in usd per share)	$ 0.29	$ 0.89	$ 3.11
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted-average number of common units outstanding - basic (in shares)	6,177	6,449	6,218
Weighted-average number of common units outstanding - diluted (in shares)	27,960	8,417	28,589

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jul. 31, 2024

Accounting Policies [Abstract]

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 the 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 the 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 common stock did not change as a result of the Reverse/Forward Stock Split; however, the number of shares of outstanding Company 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 issued and outstanding 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 and inventory; (3) the valuation of goodwill, indefinite-lived intangible assets, and 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 and fulfillment 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.

For certain customer contracts, the Company recognizes the sale of certain inventoriable goods at a point in time when control of those goods is transferred to clients. However, for sales recognized at a point in time, the timing of recognition is not significantly different than over time.

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 evaluates whether it is acting as the principal or the agent in the transaction. This determination requires significant judgment and impacts the amount and timing of revenue recognized. The Company determines whether it is a principal or an agent, which is dependent on whether the Company has control of the specified goods or services before they are transferred to the customer, whether the Company is primarily responsible for fulfillment, whether the Company has inventory risk and whether the Company has latitude 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 it’s 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
	July 31, 2024		May 1 to July 31, 2023		August 1, 2022 to April 30, 2023
	(In thousands)
Balance at beginning of period	$	219	$	1,180	$	44
Application of pushdown accounting(a)	—		(1,180)		—
Provisions charged to expense	—		219		1,136

Recovered	(46)		—		—
Foreign currency impact	$	(4)	$	—	$	—
Balance at end of period	$	169	$	219	$	1,180

(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. Interest income is recognized when earned. Cash and cash equivalents consisted of the following:


	Successor
	July 31, 2024		July 31, 2023
	(In thousands)
Cash and bank deposits	$	13,393	$	36,103
Money market funds	235,221		85,269
	$	248,614	$	121,372

Subsequent to the issuance of fiscal year 2023 financial statements, the Company determined that the money market funds balance as of July 31, 2023 in the above table, was understated by $54.2 million, and this amount was being captured in the "Cash and bank deposits" balance. The Company corrected this immaterial error in the table above as of July 31, 2023. This disclosure change did not have any impact to amounts recognized in the consolidated balance sheets. Refer to "Note 22 - Fair Value Measurements" for further detail.

Investments

Long-term investments consist of debt and equity securities. The Company determines the appropriate classifications of its investments at the acquisition date and re-evaluates the classifications at each balance sheet date.

Equity securities that do not result in consolidation and are not accounted for under the equity method are measured at fair value, with any changes recognized in Other (losses) gains, net in the consolidated statements of operations in accordance with Accounting Standards Codification ("ASC") Topic 321, Investments - Equity Securities. The Company uses quoted market prices to determine the fair value of equity securities with readily determinable fair value.

Available-for-sale debt securities are reported at fair value, with unrealized gains and losses recognized in accumulated other comprehensive income or loss as a separate component of the Company's stockholders' equity in accordance with ASC Topic 320, Investments - Debt Securities. To the extent that debt securities meet the definition of a hybrid security under ASC 815, Derivatives and Hedging, the Company may elect the fair value option under ASC 825, Financial Instruments to measure the entire hybrid instrument, with changes in fair value recorded in the Company's consolidated statements of operations.

Fair Value Measurements

The Company measures certain assets and liabilities at fair value. 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.

Goodwill and Other Intangible Assets, Net

Goodwill, which is not amortized, represents the difference between the purchase price and the fair value of identifiable net assets acquired in a business combination. Goodwill is tested for impairment at a reporting unit level, and all of the Company’s goodwill is assigned to its reporting units. Reporting units are determined based upon the Company’s organizational structure in place at the date of the goodwill impairment testing and are generally one level below the operating segment level. The Company tests goodwill annually for impairment, and additionally on an interim basis, if events occur or circumstances change that would indicate the carrying amount may be impaired. Examples of such events would include pertinent macroeconomic conditions, industry and market considerations, overall financial performance and other factors. An entity can choose between using a qualitative impairment test often referred to as “Step 0” or a quantitative impairment test often referred to as “Step 1”.

For the Step 0 approach, an entity may assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. An entity has an unconditional option to bypass the Step 0 assessment for any reporting unit in any period and proceed directly to performing a Step 1 of the goodwill impairment test. An entity may resume performing the Step 0 assessment in any subsequent period. For the Step 1 approach, which is a quantitative approach, the Company will calculate the fair value of a reporting unit and compare it to its carrying amount. There are several methods that may be used to estimate a reporting unit's fair value, including the income approach, the market approach and/or the cost approach. The amount of impairment, if any, is determined by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge based on the amount that the carrying amount exceeds the reporting unit's fair value. The loss recognized should not exceed the total goodwill allocated to the reporting unit.

For finite-lived intangible assets, the Company evaluates the carrying amount of such assets when circumstances indicate the carrying amount may not be recoverable. Conditions that could have an adverse impact on the cash flows and fair value of the long-lived assets are deteriorating business climate, condition of the asset or plans to dispose of the asset before the end of its useful life. If the assets' carrying amounts exceed the sum of the undiscounted cash flows, an impairment charge is recognized in the amount by which the carrying amounts exceeds their fair values. The Company performs such assessments at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities, which is generally at the plant level, operating company level or the reporting unit level, depending on the level of interdependencies in the Company's operations.

Indefinite-lived intangible assets are tested for impairment at least annually, or when events or changes in circumstances indicate that it is more likely than not that the asset is impaired. Companies can use the same two testing approaches for indefinite-lived intangibles as for goodwill. The Company’s annual impairment test date is June 1st each year. There were no impairments of goodwill or other intangible assets during the fiscal years ended July 31, 2024 or 2023.

Property and Equipment

Property 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, 2024 and July 31, 2023 was 5.5% and 5.2%, respectively. There were no finance leases as of the year ended July 31, 2024 or 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.

Pension Plans

The Company sponsors defined benefit pension plans covering certain of its employees in the Netherlands and previously sponsored a plan in Japan, which was terminated during the fiscal year ended July 31, 2024 as part of ceasing operations in 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 ("EPS") 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 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, 2024 and 2023, the Company's 10 largest clients accounted for approximately 81% and 83% of consolidated net revenue, respectively. Two customers accounted for approximately 38% and 15% of the Company's consolidated net revenue for the fiscal year ended July 31, 2024, and two customers accounted for 41% and 13% of the Company's consolidated net revenue for the fiscal year ended July 31, 2023. No other customers accounted for greater than 10% of consolidated net revenue in these periods. Two clients associated with the Supply Chain segment accounted for greater than 10% of the Company's consolidated net accounts receivables as of July 31, 2024. The first and second client accounted for approximately 41% and 15%, respectively, of the Company's consolidated net accounts receivable balance as of July 31, 2024. 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.

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.

Accounting Standards Issued and Not Yet Implemented

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The new guidance requires disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a quantitative threshold. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with early adoption and retrospective application permitted. This guidance will be effective for the Company beginning in the fourth quarter in the fiscal year ending July 31, 2026. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statement disclosures; however, adoption is not expected to impact its consolidated balance sheets or statement of operations.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss to assess potential future cash flows for each reportable segment and the entity as a whole. The new guidance requires a public entity to disclose significant expenses and other segment items that are regularly reported to the chief operating decision maker ("CODM") and the nature of segment expense information used to manage operations. Additionally, it requires a public entity to disclose the title and position of the CODM. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new guidance is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. This guidance will be effective for the Company beginning in the fourth quarter in the fiscal year ending July 31, 2025. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statement disclosures; however, adoption is not expected to impact its consolidated balance sheets or statements of operations.

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, 2024 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, 2024, the Company evaluated subsequent events for potential recognition and disclosure through the date these financial statements were filed.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Jul. 31, 2024

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
	July 31, 2024		July 31, 2023
Accrued Expenses	(In thousands)
Accrued compensation	$	6,504	$	6,891
Accrued audit, tax and legal	3,909		5,696
Accrued price concessions	2,312		2,981
Accrued taxes	1,863		2,811
Accrued occupancy costs	1,803		1,412
Accrued IT costs	727		831
Accrued other	4,541		6,152
Total accrued expenses	$	21,659	$	26,774


	Successor
	July 31, 2024		July 31, 2023
Other Current Liabilities	(In thousands)
Deferred revenue - current	2,271		2,574
Other	2,152		1,970
Total other current liabilities	$	4,423	$	4,544

EXCHANGE TRANSACTION

12 Months Ended

Jul. 31, 2024

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 the Steel Partners Group transferred an aggregate of 3,597,744 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 the Company's newly created Series E Convertible Preferred Stock (the “Series E Convertible Preferred Stock” and such transfer and related transactions, the "Exchange Transaction"). Following the approval by the Company's stockholders on June 6, 2023, pursuant to the rules of the Nasdaq Capital Market, 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, when combined with the common stock, the SPHG Note, if converted, and the Steel Connect Series C Convertible Preferred Stock, also if converted, owned by the Steel Partners Group, would have resulted in the Steel Partners Group holding approximately 84.0% of the outstanding equity interests of the Company as of May 1, 2023. The exclusion of the if-converted shares of the SPHG Note would have resulted in the Steel Partners Group holding approximately 83.8% of the outstanding equity interests of the Company as of May 1, 2023.

The Exchange Transaction closed on May 1, 2023, the date that the consideration was exchanged between the Company and Steel Holdings, and as of that date 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 Company's assets and liabilities have been included in Steel Holdings' consolidated balance sheet, with a related noncontrolling interest of 16.0% of the Company's common stock. Prior to May 1, 2023, when including the if-converted value of the SPHG Note and the Steel Connect Series C Convertible Preferred Stock, 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. When excluding the if-converted value of the SPHG Note, Steel Holdings held a 45.8% ownership interest in the Company. As of the date of the Exchange Transaction, Steel Holdings remeasured the previously held equity method investment to its fair value based upon a valuation of the Company.

The Exchange Transaction was accounted for in accordance with 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. 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.

In the fourth quarter of fiscal 2024, the Company determined that the fair value of a liability that existed as of the date of the Exchange Transaction was zero. As such, the Company recorded the $3.1 million reduction of the liability as an offset to the amount of goodwill recognized in pushdown accounting.

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 previously held interest in Steel Connect and noncontrolling interest	111,816
Less: cash acquired from Steel Connect	(65,896)
Total estimated consideration, less cash acquired	$	248,653


(in thousands)	Initial Estimate		Measurement Period Adjustments		Final Allocation
Assets
Accounts receivable, trade	$	36,900	$	—	$	36,900
Inventories, net	6,900		—		6,900
Prepaid expenses and other current assets	4,957		—		4,957
Other intangible assets	35,500		—		35,500
Other assets	3,900		—		3,900
Property and equipment, net	3,400		—		3,400
Operating lease right-of-use assets	29,250		—		29,250
Investments	202,733		—		202,733
Estimated fair value of total assets acquired by Steel Holdings	323,540		—		323,540
Liabilities
Accounts payable	26,300		—		$	26,300
Accrued expenses	29,100		(3,082)		26,018
Current lease obligations	7,994		—		7,994
Other current liabilities	7,236		—		7,236
Long-term lease obligations	21,300		—		21,300
Other long-term liabilities	5,742		—		5,742
Estimated fair value of total liabilities assumed by Steel Holdings	97,672		(3,082)		94,590
Fair value of identifiable net assets	225,868		3,082		228,950
Goodwill attributable to Steel Connect	$	22,785	$	(3,082)	$	19,703

In connection with the application 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.

Identifiable intangible assets were recognized 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

DEFINED BENEFIT PENSION PLANS - Aggregate Change in Benefit Obligation and Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Change in benefit obligation
Benefit obligation at beginning of year	$ 19,119	$ 21,103
Adjustment related to unconditional indexation of benefits	0	1,077
Adjustment for termination of Japan pension plan	(227)	0
Service cost	0	10
Interest cost	789	679
Actuarial gain (loss)	2,941	(4,885)
Benefits and administrative expenses paid	(329)	(275)
Settlements	0	(109)
Currency translation	(364)	1,519
Benefit obligation at end of year	21,929	19,119
Change in plan assets
Fair value of plan assets at beginning of year	15,314	17,976
Actual return on plan assets	3,141	(3,759)
Employer contributions, net	130	225
Settlements	0	(108)
Benefits and administrative expenses paid	(329)	(275)
Currency translation	(297)	1,255
Fair value of plan assets at end of year	17,959	15,314
Funded status
Current liabilities	0	(9)
Noncurrent liabilities	(3,970)	(3,796)
Net amounts recognized on the consolidated balance sheets	$ (3,970)	$ (3,805)

RELATED PARTY TRANSACTIONS - Narrative (Detail) shares in Millions			3 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2023 director corporateEntity	Mar. 09, 2023 USD ($)	Jul. 31, 2023 USD ($)	Apr. 30, 2023 USD ($) director corporateEntity	Jul. 31, 2024 USD ($) shares	Jul. 31, 2023 USD ($)	Oct. 25, 2023 USD ($)	May 01, 2023	Feb. 25, 2022 USD ($)	Jun. 14, 2019 USD ($)	Feb. 28, 2019 USD ($)
Related Party Transaction [Line Items]
Accretion of debt discount			$ 265,000	$ 2,588,000	$ 996,000
Redeemable preferred stock dividends			537,000	$ 1,593,000	$ 2,135,000
Ownership percentage, prior approval of equity securities, threshold percentage	49.60%			49.60%
Steel Partners Group \| Series E Contingently Redeemable Preferred Stock
Related Party Transaction [Line Items]
Conversion of stock, shares converted (in shares) \| shares					3.5
Stockholders' Agreement \| Related Party
Related Party Transaction [Line Items]
Board of directors, number of directors \| director	7			7
Board of directors, number of directors under SEC \| director	3			3
Board of directors, number of directors in independent audit committee \| director	3			3
Board of directors, number of directors in disinterested audit committee \| director	1			1
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%
Stockholders' Agreement \| Related Party \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Litigation settlement, proceeds required to be distributed to stockholders, percentage	100.00%
Management Services Agreement \| Related Party
Related Party Transaction [Line Items]
Management fee							$ 131,000		$ 101,900	$ 282,800
Monthly fixed fee							$ 80,000
Management services agreement, duration							1 year
Management Services Agreement \| SP Corporate Services Llc and Steel Services Limited
Related Party Transaction [Line Items]
Other receivables, net, current			700,000		$ 100,000	$ 700,000
ModusLink Management Services Agreement \| Related Party
Related Party Transaction [Line Items]
Management services agreement expenses					200,000
Accounts payable					200,000
Air Travel \| Related Party
Related Party Transaction [Line Items]
Management services agreement expenses					1,800,000
Accounts payable			0		1,600,000	0
SPHG Group Holdings LIc \| Purchase Agreement \| Series C Convertible Preferred Stock
Related Party Transaction [Line Items]
Redeemable preferred stock dividends					2,100,000	2,100,000
5.25% Convertible Senior Notes \| Steel Partners Holdings LP \| SPHG Note Transaction \| Related Party
Related Party Transaction [Line Items]
Debt instrument, face amount											$ 14,900,000
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc
Related Party Transaction [Line Items]
Debt instrument, face amount			12,900,000		12,900,000	12,900,000					$ 14,900,000
Debt instrument, repaid, principal						$ 2,000,000
Accretion of debt discount				$ 2,500,000
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc \| Interest expense related to contractual interest coupon on the SPHG Note
Related Party Transaction [Line Items]
Accretion of debt discount			$ 261,000	$ 844,000	$ 996,000
7.50% Convertible Senior Note due September 1, 2024 \| SPHG Group Holdings LIc \| SPHG Note Transaction \| Related Party
Related Party Transaction [Line Items]
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
Steel Connect, Inc. \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage					50.00%
Steel Connect, Inc. \| Steel Partners Group
Related Party Transaction [Line Items]
Equity method investment, ownership percentage					89.70%
Equity method investment, exclusion of if-converted shares, ownership percentage					89.50%
Steel Connect, Inc. \| Steel Partners Group \| Steel Connect, Inc.
Related Party Transaction [Line Items]
Equity method investment, ownership percentage								84.00%
Equity method investment, exclusion of if-converted shares, ownership percentage								83.80%
Steel Connect, Inc. \| SP Group \| Stockholders' Agreement \| Related Party \| 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