CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
ASSETS
Cash and cash equivalents	$ 233,927	$ 248,614
Accounts receivable, trade, net of allowance for credit losses of $150 and $169 at October 31, 2024 and July 31, 2024, respectively	34,543	33,443
Inventories, net	8,667	6,733
Funds held for clients	2,465	2,576
Prepaid expenses and other current assets	3,797	4,462
Total current assets	283,399	295,828
Property and equipment, net	5,642	5,536
Operating lease right-of-use assets	18,555	20,748
Investments	48,693	41,376
Other intangible assets, net	30,143	31,036
Goodwill	19,703	19,703
Deferred tax assets	67,860	68,315
Other assets	2,763	3,086
Total assets	476,758	485,628
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Accounts payable	29,031	25,219
Accrued expenses	22,200	21,659
Funds held for clients	2,408	2,532
Current lease obligations	7,881	8,319
Convertible note payable	0	12,903
Other current liabilities	4,858	4,423
Total current liabilities	66,378	75,055
Long-term lease obligations	11,020	12,740
Other long-term liabilities	5,048	5,913
Total long-term liabilities	16,068	18,653
Total liabilities	82,446	93,708
Contingently redeemable preferred stock	237,739	237,739
Stockholders' equity:
Preferred stock, $0.01 par value per share. 4,965,000 shares authorized at October 31, 2024 and July 31, 2024; zero shares issued and outstanding at October 31, 2024 and July 31, 2024	0	0
Common stock, $0.01 par value per share. Authorized 1,400,000,000 shares; 6,335,641 issued and outstanding shares at October 31, 2024; 6,319,513 issued and outstanding shares at July 31, 2024	65	65
Additional paid-in capital	62,347	62,166
Accumulated earnings	95,285	93,457
Accumulated other comprehensive loss	(1,124)	(1,507)
Total stockholders' equity	156,573	154,181
Total liabilities, contingently redeemable preferred stock and stockholders' equity	476,758	485,628
Series C Contingently Redeemable Preferred Stock
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Contingently redeemable preferred stock	35,006	35,006
Series E Contingently Redeemable Preferred Stock
LIABILITIES, CONTINGENTLY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Contingently redeemable preferred stock	$ 202,733	$ 202,733

Steel Connect, Inc. 10-Q