Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jul. 31, 2019 | Sep. 30, 2019 | Jan. 31, 2019 | |
Document Information Line Items | |||
Entity Registrant Name | ENZO BIOCHEM INC | ||
Trading Symbol | ENZ | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --07-31 | ||
Entity Common Stock, Shares Outstanding | 47,556,807 | ||
Entity Public Float | $ 164,485,000 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0000316253 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Jul. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 001-09974 | ||
Entity Incorporation, State or Country Code | NY | ||
Entity Tax Identification Number | 13-2866202 | ||
Entity Address, Address Line One | 527 Madison Ave. | ||
Entity Address, City or Town | New York | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 10022 | ||
City Area Code | (212) | ||
Local Phone Number | 583-0100 | ||
Title of 12(b) Security | Common Stock, $.01 par value | ||
Security Exchange Name | NYSE | ||
Entity Interactive Data Current | Yes |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 60,146 | $ 60,041 |
Accounts receivable, net | 10,738 | 13,147 |
Inventories | 7,842 | 7,278 |
Prepaid expenses | 2,727 | 2,734 |
Total current assets | 81,453 | 83,200 |
Property, plant, and equipment, net | 14,254 | 7,636 |
Goodwill | 7,452 | 7,452 |
Intangible assets, net | 1,032 | 1,886 |
Other | 2,449 | 1,486 |
Total assets | 106,640 | 101,660 |
Current liabilities: | ||
Accounts payable - trade | 7,256 | 9,516 |
Accrued liabilities | 8,362 | 10,054 |
Other current liabilities | 391 | 616 |
Total current liabilities | 16,009 | 20,186 |
Other liabilities | 424 | 353 |
Long term debt - net | 4,179 | |
Total liabilities | 20,612 | 20,539 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred Stock, $.01 par value; authorized 25,000,000 shares; no shares issued or outstanding | ||
Common Stock, $.01 par value; authorized 75,000,000 shares; shares issued and outstanding: 47,556,807 at July 31, 2019 and 47,182,254 at July 31, 2018 | 476 | 472 |
Additional paid-in capital | 332,704 | 330,770 |
Accumulated deficit | (249,732) | (252,221) |
Accumulated other comprehensive income | 2,580 | 2,100 |
Total stockholders’ equity | 86,028 | 81,121 |
Total liabilities and stockholders’ equity | $ 106,640 | $ 101,660 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares | Jul. 31, 2019 | Jul. 31, 2018 |
Preferred Stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 75,000,000 | 75,000,000 |
Common Stock, shares issued | 47,556,807 | 47,182,254 |
Common Stock, shares outstanding | 47,556,807 | 47,182,254 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Revenues | $ 81,170 | $ 101,013 | $ 105,086 |
Operating costs, expenses and legal settlements, net: | |||
Cost of Revenues | 57,922 | 60,385 | 59,478 |
Research and development | 3,175 | 3,210 | 2,928 |
Selling, general, and administrative | 44,265 | 44,455 | 44,149 |
Legal fee expense | 3,000 | 5,127 | 1,679 |
Legal settlements, net | (28,925) | ||
Total costs, expenses and legal settlements, net | 79,437 | 113,177 | 108,234 |
Operating income (loss) | 1,733 | (12,164) | (3,148) |
Other income (expense): | |||
Interest | 1,056 | 853 | 384 |
Other | 382 | 168 | 125 |
Foreign exchange (loss) gain | (682) | (275) | 135 |
Income (loss) before income taxes | 2,489 | (11,418) | (2,504) |
Benefit for income taxes | 1,097 | ||
Net income (loss) | $ 2,489 | $ (10,321) | $ (2,504) |
Net income (loss) per common share: | |||
Basic (in Dollars per share) | $ 0.05 | $ (0.22) | $ (0.05) |
Diluted (in Dollars per share) | $ 0.05 | $ (0.22) | $ (0.05) |
Weighted average common shares outstanding: | |||
Basic (in Shares) | 47,351 | 46,972 | 46,350 |
Diluted (in Shares) | 47,476 | 46,972 | 46,350 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Net income (loss) | $ 2,489 | $ (10,321) | $ (2,504) |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments | 480 | 87 | (186) |
Comprehensive income (loss) | $ 2,969 | $ (10,234) | $ (2,690) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance at Jul. 31, 2016 | $ 463 | $ 326,288 | $ (239,396) | $ 2,199 | $ 89,554 | |
Balance (in Shares) at Jul. 31, 2016 | 46,267,619 | |||||
Net income (loss) for the year ended | (2,504) | (2,504) | ||||
Vesting of restricted stock (in Shares) | 5,140 | |||||
Share-based compensation charges | 831 | 831 | ||||
Issuance of common stock and treasury stock for employee 401(k) plan match | $ 1 | 723 | 724 | |||
Issuance of common stock and treasury stock for employee 401(k) plan match (in Shares) | 91,541 | |||||
Exercise of stock options | $ 1 | 452 | $ 453 | |||
Exercise of stock options (in Shares) | 141,876 | 141,876 | ||||
Foreign currency translation adjustments | (186) | $ (186) | ||||
Balance at Jul. 31, 2017 | $ 465 | 328,294 | (241,900) | 2,013 | 88,872 | |
Balance (in Shares) at Jul. 31, 2017 | 46,506,176 | |||||
Net income (loss) for the year ended | (10,321) | (10,321) | ||||
Vesting of restricted stock (in Shares) | 2,874 | |||||
Share-based compensation charges | 813 | 813 | ||||
Issuance of common stock and treasury stock for employee 401(k) plan match | 204 | $ 1,014 | 1,218 | |||
Issuance of common stock and treasury stock for employee 401(k) plan match (in Shares) | 37,580 | (106,911) | ||||
Cashless options exercise and issuance of Treasury stock | $ 4 | 576 | $ (1,014) | (434) | ||
Cashless options exercise and issuance of Treasury stock (in Shares) | 340,898 | 106,911 | ||||
Exercise of stock options | $ 3 | 883 | $ 886 | |||
Exercise of stock options (in Shares) | 294,726 | 340,898 | 635,624 | |||
Foreign currency translation adjustments | 87 | $ 87 | ||||
Balance at Jul. 31, 2018 | $ 472 | 330,770 | (252,221) | 2,100 | 81,121 | |
Balance (in Shares) at Jul. 31, 2018 | 47,182,254 | |||||
Net income (loss) for the year ended | 2,489 | 2,489 | ||||
Vesting of restricted stock (in Shares) | 986 | |||||
Share-based compensation charges | 939 | 939 | ||||
Issuance of common stock and treasury stock for employee 401(k) plan match | $ 3 | 829 | 832 | |||
Issuance of common stock and treasury stock for employee 401(k) plan match (in Shares) | 315,472 | |||||
Net issuance of common stock for options exercise by Directors | $ 23,376 | |||||
Exercise of stock options | $ 1 | 166 | $ 167 | |||
Exercise of stock options (in Shares) | 34,719 | 238,230 | ||||
Foreign currency translation adjustments | 480 | $ 480 | ||||
Balance at Jul. 31, 2019 | $ 476 | $ 332,704 | $ (249,732) | $ 2,580 | $ 86,028 | |
Balance (in Shares) at Jul. 31, 2019 | 47,556,807 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019USD ($) | Jul. 31, 2018USD ($) | Jul. 31, 2017USD ($) | |
Cash flows from operating activities: | |||
Net income (loss) | $ 2,489 | $ (10,321) | $ (2,504) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
Depreciation and amortization of property, plant and equipment | 2,194 | 2,138 | 2,078 |
Amortization of intangible assets | 842 | 992 | 1,520 |
Share-based compensation charges | 939 | 813 | 831 |
Share-based 401(k) employer match expense | 855 | 829 | 724 |
Foreign exchange loss (gain) | 493 | 475 | (476) |
Changes in operating assets and liabilities: | |||
Accounts receivable | 2,404 | 1,915 | (469) |
Inventories | (572) | (413) | 92 |
Prepaid expenses and other assets | (182) | (1,177) | (618) |
Accounts payable - trade | (2,508) | (887) | 515 |
Accrued liabilities, other current liabilities and other liabilities | (2,148) | 2,901 | (1,898) |
Total adjustments | 2,317 | 7,586 | 2,299 |
Net cash provided by (used in) operating activities | 4,806 | (2,735) | (205) |
Cash flows from investing activities: | |||
Capital expenditures | (8,126) | (1,888) | (1,753) |
Increase (decrease) in security deposits and other | (56) | 4 | |
Net cash used in investing activities | (8,126) | (1,944) | (1,749) |
Cash flows from financing activities: | |||
Proceeds from borrowings under mortgage agreement or Credit Agreement | 4,500 | 40,694 | |
Repayments under mortgage agreement, capital leases or Credit Agreement | (404) | (42,250) | |
Installment loan payments | (327) | (566) | |
Cost to obtain loan | (70) | ||
Proceeds from exercise of stock options | 167 | 886 | 453 |
Net cash provided by (used in) financing activities | 4,193 | 559 | (1,669) |
Effect of exchange rate changes on cash and cash equivalents | (18) | (6) | 13 |
Increase (decrease) in cash and cash equivalents | 855 | (4,126) | (3,610) |
Cash and cash equivalents - beginning of year | 60,041 | 64,167 | 67,777 |
Cash and cash equivalents - end of year | 60,896 | 60,041 | 64,167 |
Composition of cash and cash equivalents and restricted cash is as follows: | |||
Cash and cash equivalents | 60,146 | 60,041 | 64,167 |
Restricted cash | 750 | ||
Total cash and cash equivalents (including restricted cash) | $ 60,896 | $ 60,041 | $ 64,167 |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1 - Summary of significant accounting policies Nature of business Enzo Biochem, Inc. (the “Company”) is an integrated diagnostics, clinical lab, and life sciences company engaged in research, development, manufacturing and marketing of diagnostic and research products based on genetic engineering, biotechnology and molecular biology. These products are designed for the diagnosis of and/or screening for infectious diseases, cancers, genetic defects and other medically pertinent diagnostic information and are distributed in the United States and internationally. The Company is conducting research and development activities in the development of therapeutic products based on the Company’s technology platform of genetic modulation and immune modulation. The Company also operates a clinical laboratory that offers and provides molecular and esoteric diagnostic medical testing services in the New York, New Jersey, and Connecticut medical communities. The Company operates in three segments (see Note 16). Principles of consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries, Enzo Clinical Labs, Inc., Enzo Life Sciences, Inc. (and its wholly-owned foreign subsidiaries), Enzo Therapeutics, Inc., Enzo Realty LLC (“Realty”) and Enzo Realty II, LLC (“Realty II”). All intercompany transactions and balances have been eliminated. Use of Estimates The preparation of financial statements in conformity with 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 revenues and expenses during the reporting periods. Actual results could differ from those estimates . Contingencies Contingencies are evaluated in accordance with ASC 450-20, Contingencies, and a liability is recorded when the matter is both probable and reasonably estimable. Gain contingencies are evaluated and not recognized until the gain is realizable or realized. Foreign Currency Translation/Transactions The Company has determined that the functional currency for its foreign subsidiaries is the local currency. For financial reporting purposes, assets and liabilities denominated in foreign currencies are translated at current exchange rates and profit and loss accounts are translated at weighted average exchange rates. Resulting translation gains and losses are included as a separate component of stockholders’ equity as accumulated other comprehensive income or loss. Gains or losses resulting from transactions entered into in other than the functional currency are recorded as foreign exchange gains and losses in the consolidated statements of operations. Cash and cash equivalents Cash and cash equivalents consist of demand deposits with banks and highly liquid money market funds. At July 31, 2019 and 2018, the Company had cash and cash equivalents in foreign bank accounts of $0.7 million and $0.4 million, respectively. Fair Values of Financial Instruments The recorded amounts of the Company’s cash and equivalents, receivables, loan payable, accounts payable and accrued liabilities approximate their fair values principally because of the short-term nature of these items. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents and accounts receivable. The Company believes the fair value of the aforementioned financial instruments approximates the cost due to the immediate or short-term nature of these items. Concentration of credit risk with respect to the Company’s Life Sciences products segment is mitigated by the diversity of the Company’s customers and their dispersion across many different geographic regions. To reduce risk, the Company routinely assesses the financial strength of these customers and, consequently, believes that its accounts receivable credit exposure with respect to these customers is limited. The Company believes that the concentration of credit risk with respect to the Clinical Laboratory services accounts receivable is mitigated by the diversity of third party payers that insure individuals. To reduce risk, the Company routinely assesses the financial strength of these payers and, consequently, believes that its accounts receivable credit risk exposure, with respect to these payers, is limited. While the Company also has receivables due from the Federal Medicare program, the Company does not believe that these receivables represent a credit risk since the Medicare program is funded by the federal government and payment is primarily dependent on our submitting the appropriate documentation. Other than the Medicare program, one provider whose programs are included in the “Third-party payers” and “Health Maintenance Organizations” (“HMO’s”) categories represents approximately 36%, 39% and 39% of Clinical Services net revenue for the years ended July 31, 2019, 2018 and 2017 respectively. Accrual for Self-Funded Medical Accruals for self-funded medical insurance are determined based on a number of assumptions and factors, including historical payment trends, claims history and current estimates. These estimated liabilities are not discounted. If actual trends differ from these estimates, the financial results could be impacted. Contractual Adjustment The Company’s estimate of contractual adjustment is based on significant assumptions and judgments, such as its interpretation of payer reimbursement policies, and bears the risk of change. The estimation process is based on the experience of amounts approved as reimbursable and ultimately settled by payers, versus the corresponding gross amount billed to the respective payers. The contractual adjustment is an estimate that reduces gross revenue based on gross billing rates to amounts expected to be approved and reimbursed. Gross billings are based on a standard fee schedule the Company sets for all third-party payers, including Medicare, HMO’s and managed care providers. The Company adjusts the contractual adjustment estimate quarterly, based on its evaluation of current and historical settlement experience with payers, industry reimbursement trends, and other relevant factors which include the monthly and quarterly review of: 1) current gross billings and receivables and reimbursement by payer, 2) current changes in third party arrangements and 3) the growth of in-network provider arrangements and managed care plans specific to our Company. During the years ended July 31, 2019, 2018 and 2017, the contractual adjustment percentages, determined using current and historical reimbursement statistics, were approximately 88%, 85% and 84%, respectively, of gross billings. Accounts Receivable Accounts receivable are reported at realizable value, net of allowances for doubtful accounts, which is estimated and recorded in the period of the related revenue. The Company’s ability to collect outstanding receivables from third-party payers is critical to its operating performance and cash flows. The primary collection risk lies with uninsured patients or patients for whom primary insurance has paid but a patient portion remains outstanding. The Company also assesses the current state of its billing functions in order to identify any known collection issues and to assess the impact, if any, on the allowance estimates which involves judgment. The Company believes that the collectability of its receivables is directly linked to the quality of its billing processes, most notably, those related to obtaining the correct information in order to bill effectively for the services provided. Should circumstances change (e.g. shift in payer mix, decline in economic conditions or deterioration in aging of receivables), our estimates of net realizable value of receivables could be reduced by a material amount. The Clinical Laboratory Services segment’s net receivables are detailed by billing category and as a percent to its total net receivables. At July 31, 2019 and 2018, approximately 63% and 74% respectively, of the Company’s net accounts receivable relates to its Clinical Laboratory Services business, which operates in the New York, New Jersey and Connecticut medical communities. The following is a table of the Company’s net accounts receivable by segment. July 31, 2019 July 31, 2018 Net accounts receivable by segment Amount % Amount % Clinical Labs (by billing category) Third party payers $ 2,956 44 $ 4,692 48 Patient self-pay 2,360 35 2,010 20 Medicare 910 13 1,740 18 HMO’s 574 8 1,329 14 Total Clinical Labs 6,800 100 % 9,771 100 % Total Life Sciences 3,938 3,376 Total accounts receivable – net $ 10,738 $ 13,147 Inventories The Company values inventory at the lower of cost (first-in, first-out) or net realizable value. Work-in-process and finished goods inventories consist of material, labor, and manufacturing overhead. Write downs of inventories to net realizable value are based on a review of inventory quantities on hand and estimated sales forecasts based on sales history and anticipated future demand. Unanticipated changes in demand could have a significant impact on the value of our inventory and require additional write downs of inventory which would impact our results of operations. Property, plant and equipment Property, plant and equipment is stated at cost, and depreciated on the straight-line basis over the estimated useful lives of the various asset classes as follows: building and building improvements: 15-30 years, and laboratory machinery and equipment and office furniture and computer equipment which range from 3-10 years. Leasehold improvements are amortized over the term of the related leases or estimated useful lives of the assets, whichever is shorter. Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Intangible assets (exclusive of patents), arose primarily from acquisitions, and primarily consist of customer relationships, trademarks, licenses, and website and database content. Our intangible assets are all finite-lived and are amortized according to their estimated useful lives, which range from 4 to 15 years. Patents represent capitalized legal costs incurred in pursuing patent applications. When such applications result in an issued patent, the related capitalized costs, if any, are amortized over a ten year period or the life of the patent, whichever is shorter, using the straight-line method. The Company reviews its issued patents and pending patent applications, and if it determines to abandon a patent application or that an issued patent no longer has economic value, the unamortized balance in deferred patent costs relating to that patent is immediately expensed. Impairment testing for Goodwill and Long-Lived Assets The Company tests goodwill annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. In assessing goodwill for impairment, the Company has the option to first perform a qualitative assessment to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company is not required to perform any additional tests in assessing goodwill for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it identifies the reporting units and compares the fair value of each of these reporting units to their respective carrying amount. If the carrying amount of the reporting unit is less than its fair value, no impairment exists. If the carrying amount of the reporting unit is higher than its fair value, the impairment charge is the amount by which the carrying amount exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company performed a quantitative assessment in 2019, 2018 and 2017, and concluded there were no goodwill impairments. The Company reviews the recoverability of the carrying value of long-lived assets (including its intangible assets, all of which have finite lives) of an asset or asset group for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. Should indicators of impairment exist, the carrying values of the assets are evaluated in relation to the operating performance and future undiscounted cash flows of an asset or asset group. The net book value of the long lived asset is adjusted to fair value if its expected future undiscounted cash flow is less than its book value. There were no long-lived asset impairments in 2019, 2018 or 2017. Comprehensive income (loss) Comprehensive income (loss) consists of the Company’s consolidated net income (loss) and foreign currency translation adjustments. Foreign currency translation adjustments included in comprehensive income (loss) were not tax effected as investments in international affiliates are deemed to be permanent. Accumulated other comprehensive income is a separate component of stockholders’ equity and consists of the cumulative foreign currency translation adjustments. Shipping and Handling Costs Shipping and handling costs associated with the distribution of finished goods to customers are recorded in cost of goods sold. Research and Development Research and development costs are charged to expense as incurred. Advertising All costs associated with advertising are expensed as incurred. Advertising expense, included in selling, general and administrative expense, approximated $374, $580 and $649 for the years ended July 31, 2019, 2018 and 2017, respectively. Income Taxes The Company accounts for income taxes under the liability method of accounting for income taxes. Under the liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The liability method requires that any tax benefits recognized for net operating loss carry forwards and other items be reduced by a valuation allowance when it is more likely than not that the benefits may not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the liability method, 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. It is the Company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. At July 31, 2019, the Company believes it has appropriately accounted for any unrecognized tax benefits. To the extent the Company prevails in matters for which a liability for an unrecognized tax benefit is established or is required to pay amounts in excess of the liability, the Company’s effective tax rate in a given financial statement period may be affected. Segment Reporting The Company separately reports information about each operating segment that engages in business activities from which the segment may earn revenues and incur expenses, whose separate operating results are regularly reviewed by the chief operating decision maker regarding allocation of resources and performance assessment and which exceed specific quantitative thresholds related to revenue and profit or loss. The Company’s operating activities are reported in three segments (see Note 16). Net income (loss) per share Basic net income (loss) per share represents net income (loss) divided by the weighted average number of common shares outstanding during the period. The dilutive effect of potential common shares, consisting of outstanding stock options and unvested restricted stock, is determined using the treasury stock method. Diluted weighted average shares outstanding for fiscal 2018 and 2017 do not include the potential common shares from stock options and unvested restricted stock because to do so would have been antidilutive and as such is the same as basic weighted average shares outstanding for 2018 and 2017. For 2019 approximately 125,000 weighted average stock options were included in the calculation of diluted weighted average shares outstanding. The number of potential common shares (“in the money options”) and unvested restricted stock excluded from the calculation of diluted weighted average shares outstanding for the years ended July 31, 2018 and 2017 was 624,000, and 961,000, respectively. For the years ended July 31, 2019, 2018 and 2017, the effect of approximately 1,324,000, 291,000 and zero respectively, of outstanding “out of the money” options to purchase common shares were excluded from the calculation of diluted weighted average shares outstanding because their effect would be anti-dilutive. The following table sets forth the computation of basic and diluted net income (loss) per share for the years ended July 31: 2019 2018 2017 Net income (loss) $ 2,489 $ (10,321 ) $ (2,504 ) Weighted-average common shares outstanding - basic 47,351 46,972 46,350 Add: effect of dilutive stock options and restricted stock 125 — — Weighted-average common shares outstanding - diluted 47,476 46,972 46,350 Net (loss) income per share – basic $ 0.05 $ (0.22 ) $ (0.05 ) Net (loss) income per share – diluted $ 0.05 $ (0.22 ) $ (0.05 ) Share-Based Compensation The Company records compensation expense associated with stock options and restricted stock based upon the fair value of stock based awards as measured at the grant date. The Company determines the award values of stock options using the Black Scholes option pricing model. The expense is recognized by amortizing the fair values on a straight-line basis over the vesting period, adjusted for forfeitures when they occur. For the years ended July 31, 2019, 2018 and 2017, share-based compensation expense relating to the fair value of stock options, restricted shares and restricted stock units was approximately $939, $813, and $831, respectively (see Note 11). No excess tax benefits were recognized for the year ended July 31, 2019, 2018 and 2017. The following table sets forth the amount of expense related to share-based payment arrangements included in specific line items in the accompanying statement of operations for the years ended July 31: 2019 2018 2017 Cost of clinical laboratory services $ — $ — $ 6 Selling, general and administrative 939 813 825 $ 939 $ 813 $ 831 As of July 31, 2019, there was $986 of total unrecognized compensation cost related to non-vested share-based payment arrangements granted under the Company’s incentive stock plans, which will be recognized over a weighted average remaining life of approximately eighteen months. Effect of New Accounting Pronouncements Recently Adopted Accounting Pronouncements On August 1, 2018, the Company adopted a new accounting standard issued by the Financial Accounting Standards Board (“FASB”) on revenue recognition using the full retrospective method. This new accounting standard outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. This standard supersedes existing revenue recognition requirements and eliminates most industry-specific revenue recognition guidance from U.S. GAAP. The core principle of the revenue recognition standard is to require an entity to recognize as revenue the amount that reflects the consideration which it expects to be entitled to when control of goods or services are transferred to its customers. As a result of the Company’s adoption of this standard, the majority of the amounts that were historically classified as bad debt expense, primarily related to patient responsibility, are now considered an implicit price concession in determining net revenues from clinical services. Accordingly, the Company reports estimated uncollectible balances associated with patient responsibility as a reduction of the transaction price and therefore as a reduction in net revenues, when historically these amounts were classified and separately reported as a provision for uncollectible accounts receivable. The adoption of this standard has no impact on revenues reported for life sciences products. The adoption of this new accounting standard resulted in increased disclosure, including qualitative and quantitative disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. For further details, see Note 3. The impact of the adoption of the standard on prior period consolidated operations, cash flows and balance sheet is presented in the table below: As Adjustment for New Reclassification As Restated Consolidated Statements of Operations for Total Revenues $104,713 ($3,700) — $101,013 Provision for uncollectible accounts receivable 3,690 (3,700) $10 — Selling, general and administrative expenses 44,465 — (10) 44,455 Net loss (10,321) — — (10,321) Consolidated Statements of Cash Flows Provision for uncollectible accounts receivable 3,690 (3,700) 10 — Changes in operating assets and liabilities: (1,775) 3,700 (10) 1,915 Consolidated balance sheet July 31, 2018: Accounts receivable 15,815 (2,523) — 13,292 Less: Allowance for doubtful accounts 2,668 (2,523) — 145 Accounts receivable, net of allowance for doubtful accounts 13,147 — — 13,147 Consolidated Statements of Operations for Total Revenues $107,804 ($2,718) — $105,086 Provision for uncollectible accounts receivable 2,775 (2,718) ($57) — Selling, general and administrative expenses 44,092 — 57 44,149 Net loss (2,504) — — (2,504) Consolidated Statements of Cash Flows Provision for uncollectible accounts receivable $2,775 ($2,718) ($57) — Changes in operating assets and liabilities: (3,244) 2,718 57 ($469) On August 1, 2018, the Company adopted a new accounting standard issued by FASB which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. Adoption of this standard requires that amendments in the update be applied prospectively to an award modified on or after the adoption date. For the foreseeable future, any excess income tax benefits or deficiencies from stock-based compensation, which would be recognized as discrete items within income tax expense rather than additional paid in capital, will be offset by an equivalent adjustment to the deferred tax valuation allowance. Accordingly, adoption of this standard had no impact on our reported operations. Pronouncements Issued but Not Yet Adopted In February 2016, FASB issued ASU No. 2016-02 – Leases (Topic 842), as amended. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset, which is an asset that represents the lessee’s right to use or control the use of a specified asset for the lease term, and a lease liability which is a lessee’s obligation to make lease payments arising from a lease measured on a discounted basis, on the balance sheet for all leases with terms longer than 12 months, at the commencement date of the lease. Leases will be classified as either operating or finance, with classification affecting the pattern of expense recognition in the income statement. The ASU is effective for the Company in the first quarter of fiscal 2020. We will adopt the standard using a modified retrospective transition approach and will not restate our comparative periods. The new standard provides a number of optional practical expedients. The Company expects to elect the package of three practical expedients. As such, the Company will not reassess whether expired or existing contracts are or contain a lease and will not need to reassess the lease classifications or reassess the initial direct costs associated with expired or existing leases. The Company expects not to elect the hindsight practical expedient and the land easement practical expedient, neither of which are applicable to the Company. The Company expects that this standard will have a material effect on our financial statements. While the Company continues to assess all of the effects of adoption, the Company believes the most significant effects relate to: (i) the recognition of new right of use assets and lease liabilities on our balance sheet for primarily real estate operating leases and (ii) providing significant new disclosures about our leasing activities. The Company does not expect a significant change in our leasing activities between now and adoption. As a result of the adoption of the new standard the Company expects to recognize approximately $25 million of lease right of use assets and related lease liabilities on our consolidated balance sheet upon adoption, primarily relating to real estate with respect to the Company’s operating leases. Accounting for the Company’s finance leases will remain substantially unchanged. Additionally, the standard will not materially impact the Company’s results of operations or cash flows. We are substantially complete with our implementation efforts. In June 2016, FASB issued ASU No. 2016-13 Financial Instruments – Credit Losses (Topic 326) We reviewed all other recently issued accounting pronouncements and have concluded they are not applicable or not expected to be significant to the accounting for our operations. Reclassification Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on the reported results of operations. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Jul. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 2 - Goodwill and intangible assets Goodwill The Company’s net carrying amount of goodwill is in the Clinical Laboratory Services segment and is $7,452 as of July 31, 2019 and 2018. Intangible assets The Company’s change in the net carrying amount of intangible assets, all in the Life Sciences Products segment is as follows: Gross Accumulated Net July 31, 2017 $ 27,436 $ (24,541 ) $ 2,895 Amortization expense — (992 ) (992 ) Foreign currency translation (89 ) 72 (17 ) July 31, 2018 $ 27,347 $ (25,461 ) $ 1,886 Amortization expense — (842 ) (842 ) Foreign currency translation (109 ) 98 (11 ) July 31, 2019 $ 27,238 $ (26,205 ) $ 1,032 Intangible assets, all finite-lived, consist of the following: July 31, 2019 July 31, 2018 Gross Accumulated Net Gross Accumulated Net Patents $ 11,027 $ (10,996 ) $ 31 $ 11,027 $ (10,980 ) $ 47 Customer relationships 11,746 (10,745 ) 1,001 11,836 (9,997 ) 1,839 Website and acquired content 1,008 (1,008 ) — 1,008 (1,008 ) — Licensed technology and other 483 (483 ) — 483 (483 ) — Trademarks 2,974 (2,974 ) — 2,993 (2,993 ) — Total $ 27,238 $ (26,206 ) $ 1,032 $ 27,347 $ (25,461 ) $ 1,886 At July 31, 2019 information with respect to the intangibles acquired is as follows: Useful life assigned Weighted average remaining useful life Customer relationships 8-15 years 1 years Other intangibles 10 years 3 years At July 31, 2019, the weighted average remaining useful life of intangible assets was approximately one year. Estimated amortization expense related to these finite-lived intangible assets for the five succeeding fiscal years ending July 31 is as follows: 2020 $ 513 2021 279 2022 240 2023 — 2024 — Amortization expense for the years ended July 31, 2019, 2018, and 2017 was $842, $992, and $1,520, respectively. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Jul. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Note 3 – Revenue Recognition Clinical Services Revenue Net revenues in the Company’s clinical services business accounted for 63%, 71% and 71% of the Company’s total net revenues for fiscal years ended July 31, 2019, 2018, and 2017, respectively and are primarily comprised of a high volume of relatively low-dollar transactions. The services business, which provides clinical testing services, satisfies its performance obligation and recognizes revenues upon completion of the testing process for a specific patient and reporting to the ordering physician. The Company may also perform clinical testing services for other laboratories and will recognize revenue from those services when reported to the ordering laboratory. The Company estimates the amount of consideration it expects to receive from customer groups using the portfolio approach. These estimates of the expected consideration include the impact of contractual allowances and price concessions on our customer group portfolios consisting of healthcare insurers, government payers, client payers and patients as described below. Contracts with customers in our laboratory services business do not contain a financing component, based on the typically limited period of time between performance of services and collection of consideration. The transaction price includes variable consideration in the form of the contractual allowance and price concessions as well as the collectability of the transaction based on patient intent and ability to pay. The Company uses the expected value method in estimating the amount of the variability included in the transaction price. The following are descriptions of our laboratory services business portfolios: Third party payers and Health Maintenance Organizations (HMO’s) Reimbursements from third party payers, primarily healthcare insurers and HMO’s are based on negotiated fee-for-service schedules and on capitated payment rates. Revenues consist of amounts billed net of contractual allowances for differences between amounts billed and the estimated consideration the Company expects to receive from such payers, which considers historical collection and denial experience and the terms of the Company’s contractual arrangements. Adjustments to the allowances, based on actual receipts from the third-party payers, are recorded upon settlement. Collection of the consideration the Company expects to receive is normally a function of providing complete and correct billing information to these third party payers within the various filing deadlines, and typically occurs within 60 to 90 days of billing. Provided the Company has billed healthcare insurers accurately with complete information prior to the established filing deadline, there has historically been little to no collection risk. If there has been a delay in billing, the Company determines if the amounts in question will likely go past the filing deadline, and if so, will reserve accordingly for the billing. Government Payer - Medicare Reimbursements from Medicare are based on fee-for-service schedules set by Medicare, which is funded by the government. Revenues consist of amounts billed net of contractual allowances for differences between amounts billed and the estimated consideration the Company expects to receive from Medicare, which considers historical collection and denial experience and other factors. Adjustments to the allowances, based on actual receipts from the government payers, are recorded upon settlement. Collection of consideration the Company expects to receive is normally a function of providing the complete and correct billing information within the various filing deadlines and typically occurs within 60 days of billing. Provided the Company has billed the government payer accurately with complete information prior to the established filing deadline, there has historically been little to no collection risk. If there has been a delay in billing, the Company determines if the amounts in question will likely go past the filing deadline, and, if so, it will reserve accordingly for the billing. Patient self pay Uninsured patients are billed based on established patient fee schedules or fees negotiated with physicians on behalf of their patients. Coinsurance and deductible responsibilities based on fees negotiated with healthcare insurers are also billed to insured patients and included in this portfolio. Collection of billings from patients is subject to credit risk and ability of the patients to pay. Revenues consist of amounts billed net of discounts provided to uninsured patients in accordance with the Company’s policies and implicit price concessions. Implicit price concessions represent differences between amounts billed and the estimated consideration the Company expects to receive from patients, which considers historical collection experience and other factors including current market conditions. Adjustments to the estimated allowances, based on actual receipts from the patients, are recorded upon settlement. Patient billings are generally fully reserved for when the related billing reaches 210 days outstanding. Balances are automatically written off when they are sent to collection agencies. Allowances are further adjusted for estimated recoveries of amounts sent to collection agencies based on historical collection experience, which is regularly monitored. Collection of consideration the Company expects to receive typically occurs within 180 days of billing. The following table represents clinical services net revenues and percentages by type of customer: Year ended July 31, Year ended July 31, Year ended July 31, Revenue category Revenue % Revenue % Revenue % Third-party payers $ 26,653 52 $ 41,370 58 $ 43,059 58 Medicare 10,898 21 12,111 17 12,705 17 HMO’s 6,213 12 11,359 16 10,263 14 Patient self-pay 7,351 15 6,237 9 8,662 11 Total $ 51,115 100 % $ 71,077 100 % $ 74,689 100 % For fiscal years ended July 31, 2019, 2018, and 2017 all of the Company’s clinical services revenues were generated within the United States. Products Revenue and royalty income Products revenues consist of the sale of single-use products used in the identification of genomic information and are recognized at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment. Payment terms for shipments to end-user and distributor customers may range from 30 to 90 days. Any claims for credit or return of goods may be made generally within 30 days of receipt. Revenues are reduced to reflect estimated credits and returns, although historically these adjustments have not been material. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue. Amounts billed to customers for shipping and handling are included in revenue, while the related shipping and handling costs are reflected in cost of products. Royalty income is based on net sales of the Company’s licensed products by a third party. We recognize royalty income in the period the sales occur based on third party evidence received. During the fiscal year ended July 31, 2019 there was no royalty income. For fiscal years ended July 31, 2018 and 2017, royalty income was $712 and $1,205, respectively. Products revenue by geography is as follows: 2019 2018 2017 United States $ 16,965 $ 15,524 $ 16,533 Europe 5,922 6,326 5,659 Rest of the world 7,168 7,374 7,000 Products revenue $ 30,055 $ 29,224 $ 29,192 Royalty income is based on net sales of the Company’s licensed products by a third party. We recognize royalty income in the period the sales occur based on third party evidence received. During the fiscal year ended July 31, 2019 there was no royalty income. For fiscal years ended July 31, 2018 and 2017, royalty income was $712 and $1,205, respectively. |
Supplemental disclosure for sta
Supplemental disclosure for statement of cash flows | 12 Months Ended |
Jul. 31, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | Note 4 - Supplemental disclosure for statement of cash flows In the years ended July 31, 2019, 2018, and 2017, interest paid by the Company approximated $138, $76, and $119 respectively. The Company did not finance any installment loans during fiscal 2019 or 2018; during fiscal 2017 the Company financed $69 in machinery and transportation equipment under installment loans. During fiscal 2019, the Company entered into capital lease agreements totalling $381 and none during fiscal years 2018 or 2017. |
Inventories
Inventories | 12 Months Ended |
Jul. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 5 - Inventories Inventories consisted of the following at July 31: 2019 2018 Raw materials $ 876 $ 754 Work in process 2,566 2,174 Finished products 4,400 4,350 $ 7,842 $ 7,278 |
Property, plant, and equipment
Property, plant, and equipment | 12 Months Ended |
Jul. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6 - Property, plant, and equipment At July 31, 2019 and 2018 property, plant, and equipment consist of: 2019 2018 Building and building improvements $ 10,334 $ 4,917 Machinery and equipment (includes assets under capital lease - see Note 9) 8,538 7,570 Office furniture and computer equipment 16,229 15,362 Leasehold improvements 5,270 5,262 40,371 33,111 Accumulated depreciation and amortization (28,179 ) (26,187 ) 12,192 6,924 Land and land improvements 2,062 712 $ 14,254 $ 7,636 |
Income taxes
Income taxes | 12 Months Ended |
Jul. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 7 - Income taxes The benefit for income taxes for fiscal years ended July 31 is as follows: 2019 2018 2017 Federal $ — $ 1,097 $ — State and local — — — Foreign — — — Deferred benefit — — — Benefit for income taxes $ — $ 1,097 $ — In December 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a corporate tax rate decrease from 34% to 21% effective for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a territorial system, and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017. The Staff of the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects on the Tax Act. As a result of the Tax Act, the Company remeasured its U.S. Federal deferred tax assets and liabilities at the rate they are expected to reverse in the future. The Company recorded a cumulative charge of $11.5 million ($0 for July 31, 2019 and $11.5 million for July 31, 2018), which was fully offset by an equivalent adjustment to the deferred tax valuation allowance. The Company recorded a cumulative benefit of $1.1 million ($0 for July 31, 2019 and $1.1 million for July 31, 2018) related to a credit for alternative minimum taxes (AMT) paid in prior years. During the fiscal year ended July 31, 2019, the Company finalized its computation of the impact of the Tax Act with no change to the benefit amount. In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed income (“GILTI”) provisions of the Tax Act. The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The guidance allows companies to make an accounting policy election to either (i) account for GILTI as a component of tax expense in the period in which they are subject to the rules (the period cost method), or (ii) account for GILTI in the Company’s measurement of deferred taxes (the deferred method). After completing the analysis of the GILTI provisions, the Company elected to account for GILTI using the period cost method. Deferred tax assets and liabilities arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The components of deferred tax assets (liabilities) as of July 31 are as follows: 2019 2018 Deferred tax assets: Federal tax carryforward losses $ 12,558 $ 13,975 Provision for uncollectible accounts receivable 1,116 791 State and local tax carry forward losses 144 352 Accrued royalties 101 102 Stock compensation 769 575 Depreciation 682 581 Research and development and other tax credit carryforwards 1,350 1,286 Foreign tax carryforward losses 3,783 2,771 Intangibles and goodwill 1,479 1,811 Inventory 1,086 1,786 Accrued expenses 1,127 1,194 Other, net 82 58 Deferred tax assets 24,277 25,282 Prepaid expenses (626 ) (772 ) Other, net (124 ) (39 ) Deferred tax liabilities (750 ) (811 ) Net deferred tax assets before valuation allowance 23,527 24,471 Less: valuation allowance (23,527 ) (24,471 ) Net deferred tax liabilities $ — $ — The Company recorded a valuation allowance during the years ended July 31, 2019 and 2018 equal to domestic and certain foreign net deferred tax assets. The Company believes that the valuation allowance is necessary as it is not more likely than not that the deferred tax assets will be realized in the foreseeable future based on positive and negative evidence available at this time. This conclusion was reached because of uncertainties relating to future taxable income, in terms of both its timing and its sufficiency, which would enable the Company to realize the deferred tax assets. For fiscal year 2019 and 2018 the change in the valuation allowance was $(0.9) million and $8.1 million, respectively. As of July 31, 2019, the Company had U.S. federal net operating loss carryforwards of approximately $59.1 million. The U.S. federal tax loss carryforwards, if not fully utilized, expire between 2030 and 2038. Utilization is dependent on generating sufficient taxable income prior to expiration of the tax loss carryforwards. In addition, the Company has research and development tax credit carryforwards of approximately $1.3 million which expire between 2025 and 2039. As of July 31, 2019, the Company has state net operating loss carryforwards of approximately $2.7 million, which if not fully utilized, expire between 2037 and 2038. As of July 31, 2019, the Company had foreign loss carryforwards of approximately $15.4 million. The components of income (loss) before income taxes consisted of the following for the years ended July 31: 2019 2018 2017 United States operations $ 4,618 $ (9,540 ) $ (212 ) International operations (2,129 ) (1,878 ) (2,292 ) Income (loss) before taxes $ 2,489 $ (11,418 ) $ (2,504 ) The benefit for income taxes was at rates different from U.S. federal statutory rates for the following reasons for the years ended July 31: 2019 2018 2017 Federal statutory rate (21.0 )% 26.4 % 34.0 % Compensation and other expenses not deductible for (15.3 ) (1.0 ) (14.5 ) Change in valuation allowance 36.3 73.9 64.0 State tax law change — — (81.1 ) Impact of Tax Act on valuation allowance — (100.1 ) — AMT refund under Tax Act — 9.6 — Other — 0.8 (2.4 ) — % 9.6 % — % Because there are no undistributed earnings at the Company’s foreign subsidiaries at July 31, 2019, no U.S. federal income taxes have been provided. As of July 31, 2019, the Company has no liabilities for uncertain tax positions. It is the Company’s policy to record interest and penalties as a component of tax expense. The Company files income tax returns in the U.S. Federal jurisdiction, various U.S. state jurisdictions and several foreign jurisdictions. |
Loan Payable
Loan Payable | 12 Months Ended |
Jul. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 8 - Loan Payable In connection with the purchase of our new facility on November 27, 2018, a wholly-owned subsidiary (the “mortgagor subsidiary”) of the Company entered into a Fee Mortgage and Security Agreement (the “mortgage agreement”) with Citibank, N.A. (the “mortgagee”). The mortgage agreement provides for a loan of $4,500 for a term of 10 years, bears a fixed interest rate of 5.09% per annum and requires monthly mortgage payments of principal and interest of $30. Debt issuance costs of $70 are being amortized over the life of the mortgage agreement. The balance of unamortized debt issuance cost was $70 at July 31, 2019. At July 31, 2019, the balance owed by the subsidiary under the mortgage agreement was $4.4 million. The Company’s obligations under the mortgage agreement are secured by the new facility and by a $750 cash collateral deposit with the mortgagee as additional security. This restricted cash is included in other assets as of July 31, 2019. The mortgage agreement includes affirmative and negative covenants and events of default, as defined. Events of default include non-payment of principal and interest on debt outstanding, non-performance of covenants, material changes in business, breach of representations, bankruptcy or insolvency, and changes in control. The mortgage includes certain financial covenants. As of July 31, 2019, required financial covenants have been met. We assumed from the seller an operating lease for a current tenant at the facility which expires on December 31, 2019. Rental income from the assumed lease is included in other income. For the years ending July 31, principal payments due on the loan are as follows: Total 2020 $ 136 2021 144 2022 152 2023 160 2024 167 Thereafter 3,626 Total principal payments 4,385 Less: current portion, included in other current liabilities (136 ) unamortized mortgage costs (70 ) Loan payable - net $ 4,179 |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Jul. 31, 2019 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 9 - Accrued Liabilities At July 31, accrued liabilities consist of: 2019 2018 Payroll, benefits, and commissions $ 5,123 $ 4,870 Professional fees 774 811 Legal 164 2,121 Other 2,301 2,252 $ 8,362 $ 10,054 Self-Insured Medical Plan The Company self-funds medical insurance coverage for certain of its U.S. based employees. The risk to the Company is believed to be limited through the use of individual and aggregate stop loss insurance. As of July 31, 2019 and 2018, the Company has established a reserve of $0.2 and $0.3 million, respectively, which is included in accrued liabilities, for claims that have been reported but not paid and incurred but not reported. The reserve is based upon the Company’s historical payment trends, claim history and current estimates. |
Other liabilities
Other liabilities | 12 Months Ended |
Jul. 31, 2019 | |
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | |
Other Liabilities Disclosure [Text Block] | Note 10 - Other liabilities At July 31, Other liabilities consist of: 2019 2018 Capital lease obligations, net of current portion $ 424 $ 351 Installment loans — 2 $ 424 $ 353 The capital lease obligations and installment loans are for machinery and equipment used in the Clinical Laboratory Services segment. Amortization of the assets recorded under the capital lease is included in depreciation expense. At July 31, 2019, the accumulated amortization on the capital leases was $1,042 and the imputed interest rate ranges from 2.99% to 9.5%. Future minimum lease and loan payments for the years ending July 31 are as follows: Capital leases Installment 2020 $ 292 $ 2 2021 236 — 2022 79 — 2023 83 — 2024 26 Total payments 716 2 Less: interest (37 ) — Total net of interest 679 2 Less: current portion, included in other current liabilities (255 ) (2 ) Other liabilities - net $ 424 $ — |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jul. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 11 - Stockholders’ equity Controlled Equity Offering The Company has a Controlled Equity Offering SM On September 1, 2017, the Company filed with the SEC a “shelf” registration and sales agreement prospectus covering the offering, issuance and sale of our Common Stock that may be issued and sold under the existing Sales Agreement in an aggregate amount of up to $19.2 million. A total of $150 million of securities may be sold under this shelf registration, which was declared effective September 15, 2017. For the years ended July 31, 2019, 2018, and 2017 the Company did not sell any shares of common stock under the Sales Agreement. Treasury stock During fiscal year 2018, certain officers of the Company exercised 340,898 stock options in non-cash transactions. The officers surrendered 106,911 previously acquired shares of the Company’s common stock to exercise the stock options. The Company recorded approximately $1,014, the market value of the surrendered shares, as treasury stock. All of the treasury shares were subsequently reissued in the share-based 401(k) employer match made during fiscal year ended July 31, 2018. Common stock In fiscal 2019, the Company issued 315,472 shares of common stock for its employees’ 401(k) matching contribution obligation. The Company recorded an expense of $832 for the match representing the fair value of the shares at the date of issuance. In fiscal 2018, the Company used 106,911 shares of treasury stock and issued 37,580 shares of common stock for its employees’ 401(k) matching contributions obligation. The Company recorded an expense of $782 for the match, representing the fair value of the shares at the date of issuance. In fiscal 2017, the Company issued 91,541 shares of common stock for its employees’ 401(k) matching contributions obligation. The Company recorded an expense of $724 for the match representing the fair value of the shares at the date of issuance. Incentive stock plans In January 2011, the Company’s stockholders approved the adoption of the 2011 Incentive Plan (the “2011 Plan”) which provides for the issuance of equity awards, including among others, options, restricted stock and restricted stock units for up to 3,000,000 Common Shares. The exercise price of options granted under the 2011 Plan, and consistent with other Plans, is equal to or greater than fair market value of the Common Stock on the date of grant. Unless terminated earlier by the Board of Directors, the 2011 Plan will terminate at the earliest of; (a) such time as no shares of Common Stock remain available for issuance under the 2011 Plan or (b) tenth anniversary of the effective date of the 2011 Plan. On January 5, 2018, the Company’s stockholders approved the amendment and restatement of the 2011 Plan to increase the number of shares available for issuance by 2,000,000 bringing the total number of shares available for award under the 2011 Plan to 5,000,000. Awards outstanding upon expiration of the 2011 Plan shall remain in effect until they have been exercised, terminated, or have expired. As of July 31, 2019, there were approximately 1,223,000 shares available for grant under the 2011 Plan. The Company estimates the fair value of each stock option award on the measurement date using a Black-Scholes option pricing model. The fair value of awards is amortized to expense on a straight line basis over the requisite service period. The Company expenses restricted stock awards based on vesting requirements, primarily time elapsed. Options granted pursuant to the plans may be either incentive stock options or non-statutory options The 2011 Plan provides for the issuance of stock options, restricted stock and restricted stock unit awards which generally vest over a two to four year period. A summary of the activity pursuant to the Company’s stock option plans for the years ended July 31, 2019, 2018, and 2017 is as follows: 2019 2018 2017 Options Weighted - Options Weighted - Options Weighted - Outstanding at beginning of year 1,882,116 $ 4.96 2,132,995 $ 4.26 1,813,875 $ 3.43 New Grants 715,321 $ 2.81 415,580 $ 5.57 493,996 $ 7.07 Exercised (238,230 ) $ 2.69 (635,624 ) $ 2.98 (141,876 ) $ 3.19 Expired (8,167 ) $ 6.55 (30,835 ) $ 5.97 (33,000 ) $ 5.29 Outstanding at end of year 2,351,040 $ 4.53 1,882,116 $ 4.99 2,132,995 $ 4.26 Exercisable at end of year 1,342,564 $ 5.16 1,149,489 $ 4.28 1,388,475 $ 3.27 Weighted average fair value of options granted during year $ 1.07 $ 1.91 $ 2.45 The intrinsic value of stock option awards that vested during the fiscal year represents the value of the Company’s closing stock price on the last trading day of the fiscal year in excess of the exercise price multiplied by the number of options that vested. Total intrinsic value of options that vested and were exercisable during the fiscal years ended July 31, 2019, 2018, and 2017 was $159, $743 and $10,530, respectively. The intrinsic value of options outstanding at July 31, 2019, 2018, and 2017 was $955, $1,723 and $14,510, respectively. The intrinsic value of the options exercised in fiscal 2019, 2018 and 2017 was $117, $6,014 and $1,388, respectively. During the fiscal year ended July 31, 2019 certain directors and officers of the Company exercised 203,511 stock options in non-cash transactions. The officers and directors received 23,376 net shares of common stock. The Company did not receive any proceeds from this exercise. The net shares issued represent the difference between the fair market value of the options on the date of exercise less the strike price cost to exercise the options. Listed below are the assumptions used to fair value options granted during fiscal years 2019, 2018 and 2017: Grant Year Options Exercise Price Range Term Vesting (years) FMV of Share Expected Expected Interest Vested 2019 715,321 $2.80 - $3.21 5 2 - 3 $1.06 – $1.23 3.25 - 3.5 48.06 - 50.56 2.47- 2.96 — 2018 415,580 $4.42 - $8.36 5 2 - 3 $1.53 - $2.76 3.25 - 3.5 42.59 - 46.14 2.07- 2.79 166,860 2017 493,996 $7.07 5 2 - 3 $2.40 - $2.48 3.25 - 3.5 45.85 - 46.28 1.48- 1.54 394,296 The following table summarizes information for stock options outstanding at July 31, 2019: Range of Exercise prices Range of Exercise prices Shares Weighted-Average Remaining Contractual Life in Years Weighted-Average Exercise Price $2.80 $4.35 1,266,592 1.58 $ 3.25 $4.42 $7.07 968,868 1.10 $ 5.75 $8.25 $8.36 115,580 0.17 $ 8.36 2,351,040 Restricted Stock Awards During fiscal 2017, the compensation committee of the Company’s board of directors approved grants of restricted stock and restricted stock unit awards (the “Awards”) to certain officers and certain employees under the 2011 Plan. The Awards vest upon the recipient’s continued employment service rateably over four years. Share-based compensation expense is based on the fair value of the award as measured on the grant date and is recorded over the vesting period on a straight-line basis. The Awards will be forfeited if the recipient ceases to be employed by the Company, as defined in the Plans’ terms. The Awards settle in shares of the Company’s common stock on a one-for-one basis. The following table summarizes the activity pursuant to restricted stock awards for the years ended July 31, 2019 2018 2017 Awards Weighted - Awards Weighted - Awards Weighted - Outstanding at beginning of year 2,613 $ 1.74 7,436 $ 4.45 8,501 $ 4.13 Awarded — $ — — $ — 4,250 $ 6.95 Vested (986 ) $ (6.71 ) (2,874 ) $ (5.20 ) (5,140 ) $ (4.10 ) Forfeited — $ — (1,949 ) $ (5.18 ) (175 ) $ (2.14 ) Outstanding (non-vested) at end of year 1,627 $ 5.14 2,613 $ 1.74 7,436 $ 4.45 Weighted average market value of awards granted during year $ — $ — $ 6.95 The fair value of the awards that vested during the years ended July 31, 2019, 2018 and 2017 was $4, $24 and $44, respectively. Performance Stock Units To better align the long-term interest of executives with growing U.S. practices, beginning in fiscal 2018, the Company granted long-term incentive awards in the form of time based stock options and performance-based restricted stock units (“Performance Stock Units” or “PSUs”). The PSUs earned will be determined over a three-year performance period. The primary performance metrics will be revenue and Adjusted EBITDA growth. Payouts based on revenue and adjusted EBITDA goals will be modified based on Total Shareholder Return (“TSR”) performance relative to Enzo’s peer group. During fiscal year 2019 and 2018, the Company awarded PSUs to its executive officers which provide for the grant of shares of our common stock at the end of three–year periods based on the achievement of average revenue growth and adjusted EBITDA growth over the respective periods. As of July 31, 2019, the Company did not accrue any compensation expense for these PSU’s as the achievement of the growth goals is currently not probable. The following table summarizes PSU’s granted: Period Total Fair Market Value 7/31/2019 80,500 $ 225 7/31/2018 32,000 $ 141 |
Employee benefit plan
Employee benefit plan | 12 Months Ended |
Jul. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement [Text Block] | Note 12 - Employee benefit plan The Company has a qualified Salary Reduction Profit Sharing Plan (the “Plan”) for eligible U.S. employees under Section 401(k) of the Internal Revenue Code. The Plan provides for voluntary employee contributions through salary reduction and voluntary employer contributions at the discretion of the Company. For the years ended July 31, 2019, 2018, and 2017, the Company authorized employer matched contributions of 50% of the employees’ contribution up to 10% of the employees’ compensation, payable in Enzo Biochem, Inc. common stock. The share-based 401(k) employer matched contribution was approximately $830, $781, and $724 in fiscal years 2019, 2018, and 2017, respectively. As of July 31, 2019, 2018 and 2017 the Company accrued a total of $475, $493 and $412 in 401(k) matching contributions within the Accrued liabilities account. The Company’s Swiss operations provide a pension plan named the Enzo Life Sciences (ELS) AG Vertrag - Nr. 2/401144, (the “Swiss Plan”) under the Swiss government’s social security system for Swiss employees. The current required minimum saving contribution is 13% for employees over age 25 and minimum annual investment return is 1.00%. Employees are required to contribute based on a formula and the Company’s Swiss operations make contributions of at least 50% of the employee contribution. The status of the Swiss Plan, which is substantially funded as of December 31, 2018, the latest plan year end, is as follows: As of December 31, 2018 2017 2016 Total Assets $ 2,064 $ 1,849 $ 2,184 Accumulated Benefit Obligation $ 2,308 $ 2,094 $ 2,432 Funded status 90 % 88 % 90 % Fiscal Year ended July 31, 2018 2017 2016 Contributions $ 208 $ 205 $ 224 The Swiss Plan’s contract expires December 31, 2019 and the Company is in the process of renewing the contract. Currently the Company has no plans to change the current funding or plan design. No events have occurred that would impact the Swiss Plan status. |
Royalty and other income
Royalty and other income | 12 Months Ended |
Jul. 31, 2019 | |
Royalty And Other Income [Abstract] | |
Royalty And Other Income [Text Block] | Note 13 - Royalty and other income The Company had a license agreement with Qiagen that began in 2005, whereby the Company earned quarterly running royalties on the net sales of Qiagen products subject to a license until the underlying patent expired in April 2018. During the years ended July 31, 2019, 2018 and 2017, the Company recorded royalty income under the agreement of approximately $0, $712 and $1,205 respectively, which is included in the Life Sciences products segment. |
Commitments
Commitments | 12 Months Ended |
Jul. 31, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Commitments Disclosure [Text Block] | Note 14 - Commitments Leases The Company leases equipment and office and laboratory space under several non-cancellable operating leases that expire through June 2028. Certain leases include renewal options and rent escalation clauses. An entity owned by certain executive officers/directors of the Company owns the building that the Company leases as its main facility for clinical laboratory operations and certain research operations. In addition to the minimum annual rentals of space, the lease is subject to annual increases, based on the consumer price index. Annual increases are limited to 3% per year. Rent expense for this lease, inclusive of real estate taxes, approximated $1,849, $1,798, and $1,752 during fiscal years 2019, 2018 and 2017, respectively. Total rent expense incurred by the Company during fiscal 2019, 2018 and 2017 for all its facilities was approximately $4,873, $4,398 and $4,658, respectively. Minimum future annual rentals under all non-cancellable operating leases, net of sublease rental income of $134, as of July 31, 2019, are as follows: Years ending July 31, 2020 $ 9,457 2021 5,878 2022 4,299 2023 3,401 2024 3,107 Thereafter 9,679 $ 35,821 Employment Agreements The Company has employment agreements with certain officers that are cancellable at any time but provide for severance pay in the event an officer is terminated by the Company without cause, as defined in the agreements. Unless cancelled earlier or with notice as defined, the agreement automatically renews for two years. Aggregate minimum compensation commitments, exclusive of any severance provisions as of July 31, 2019 is $2,498. |
Contingencies
Contingencies | 12 Months Ended |
Jul. 31, 2019 | |
Loss Contingency [Abstract] | |
Contingencies Disclosure [Text Block] | Note 15 – Contingencies There are currently three cases that are on appeal, which were originally brought by the Company in the United States District Court for the District of Delaware (“the Court”), alleging patent infringement against various companies. In 2017, the Court entered summary judgment against the Company that the asserted claims of the ’180 and ’405 Patents are invalid for nonenablement in cases involving Abbott, Becton Dickinson, Gen-Probe, Hologic, and Roche. The Company appealed the Court’s final judgment of invalidity in those cases to the United States Court of Appeals for the Federal Circuit (“Federal Circuit”), which were subsequently consolidated (“the Consolidated Appeals”). The Federal Circuit heard oral argument in the Consolidated Appeals on January 7, 2019. In the Consolidated Appeals, the Company had asked the Federal Circuit to reverse the Court’s grants of final and summary judgment of invalidity of the asserted claims of the ’180 and ’405 patents and to remand the cases against Abbott, Becton Dickinson, and Roche to the Court. On June 20, 2019 the Federal Circuit affirmed the District Court’s grant of summary judgment of non-enablement with respect to the ’180 and ’405 patents. The Company filed a petition for rehearing and rehearing en banc In April 2019, the Company entered into an agreement with Hologic and Grifols, resolving litigation resulting from four cases originally brought by the Company in the Court. As a result, Enzo dismissed (1) a stayed patent litigation regarding the ’180 and ’197 Patent against Hologic in the Court; (2) the Consolidated Appeals against Gen-Probe and Hologic resulting from two cases filed in the Court, and (3) the Company’s appeal in the litigation involving the ’581 Patent that involved both Hologic and Grifols. As a result of the agreement with Hologic, Hologic withdrew from Enzo’s Federal Circuit appeal of the Patent Trial and Appeal Board’s adverse rulings in two inter partes Of the original cases filed in the Court, the Abbott, Becton Dickinson, and Roche cases remain on appeal to the Federal Circuit. The ’197 PTAB Appeals remain pending with respect to Becton Dickenson. On August 16, 2019, the Federal Circuit affirmed the Board’s decision finding that each of the challenged claims is unpatentable as anticipated or obvious. The Company’s petition for rehearing and rehearing en banc There can be no assurance that the Company will be successful in these litigations. Even if the Company is not successful, management does not believe that there will be a significant adverse monetary impact on the Company. The Company is party to other claims, legal actions, complaints, and contractual disputes that arise in the ordinary course of business. The Company believes that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on its financial position or results of operations. As described in Note 3, third-party payers, including government programs, may decide to deny payment or recoup payments for testing that they contend was improperly billed or not medically necessary, against their coverage determinations, or for which they believe they have otherwise overpaid (including as a result of their own error), and we may be required to refund payments already received. During the third fiscal quarter of 2019, a significant third-party payer informed us outside of their typical business practice that they believe it overpaid the Company during certain periods of fiscal 2018 and subsequent to year end began to withhold payment in paying certain claims. The Company disputes these claims, has formally sent legal appeal letters to the payer, and at the present time may exercise its rights under the terms of the agreement with the payer and file a notice of arbitration. At this time, the Company is unable to determine the probability of the outcome of these appeals or reasonably estimate a range of potential losses associated with this claim. The following legal settlements are included in the statement of operations under Legal settlements, net within the Life Science segment for the 2019 period: The Company, along with its subsidiaries Enzo Life Sciences, Inc. entered into a Settlement Agreement as of February 5, 2019 (the “Agreement) with Roche Diagnostics GmbH and Roche Molecular Systems, Inc. (together, “Roche”) with respect to an action between the Company and Roche before the U.S. District Court, Southern District of New York, Case No 04-CV4046. Roche agreed to pay the Company $21 million in settlement pursuant to the Agreement. The Company received $19.4 million net of attorney contingency payments. This settlement does not affect the Company’s civil action for patent infringement against Roche in the U.S. District Court for the State of Delaware, Enzo Life Sciences Inc. v. Roche Molecular Systems Inc., et al., civil action No. 12 cv-00106, which remains pending on appeal. The Company, along with its subsidiaries Enzo Life Sciences, Inc. entered into a settlement and license agreement as of April 16, 2019 (the “Agreement”) with Hologic, Inc. (“Hologic”), Grifols, S.A., and Grifols Diagnostic Solutions Inc. (together, “Grifols”) to settle all outstanding patent disputes among the parties. The terms of the agreement include one-time payments totaling $14 million to the Company in exchange for fully paid-up, worldwide licenses to Hologic and Grifols. The Company received $9.5 million net of attorney contingency payments. |
Segment reporting
Segment reporting | 12 Months Ended |
Jul. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 16 - Segment reporting The Company has three reportable segments: Life Sciences Products, Clinical Laboratory Services and Therapeutics. The Company’s Life Sciences Products segment develops, manufactures, and markets products to research and pharmaceutical customers. The Clinical Laboratory Services segment provides diagnostic services to the health care community. The Company’s Therapeutics segment conducts research and development activities for therapeutic drug candidates. The Company evaluates segment performance based on segment income (loss) before taxes. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative costs which are not allocable to the three reportable segments. Legal fee expense incurred to defend the Company’s intellectual property, which may result in settlements recognized in another segment and other general corporate matters are considered a component of the Other segment. Legal fee expense specific to other segments’ activities have been allocated to those segments. Legal settlements, net, represent activities for which royalties would have been received in the Company’s Life Sciences Products segment. Management of the Company assesses assets on a consolidated basis only and therefore, assets by reportable segment have not been included in the reportable segments below. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. The following financial information represents the operating results of the reportable segments of the Company: Year ended July 31, 2019 Clinical Life Therapeutics Other Consolidated Revenues $ 51,115 $ 30,055 $ — $ — $ 81,170 Operating costs, expenses and legal settlements, net: Cost of revenues 44,226 13,696 — — 57,922 Research and development 31 2,257 887 — 3,175 Selling, general and administrative 24,230 11,860 — 8,175 44,265 Legal fee expense 159 27 — 2,814 3,000 Legal settlements, net — (28,925 ) — — (28,925 ) Total operating costs, expenses and legal settlements, net 68,646 (1,085 ) 887 10,989 79,437 Operating income (loss) (17,531 ) 31,140 (887 ) (10,989 ) 1,733 Other income (expense) Interest (64 ) 67 — 1,053 1,056 Other 16 2 — 364 382 Foreign exchange loss — (682 ) — — (682 ) Income (loss) before taxes $ (17,579 ) $ 30,527 $ (887 ) $ (9,572 ) $ 2,489 Depreciation and amortization included above $ 1,625 $ 1,221 $ — $ 190 $ 3,036 Share-based compensation included above: Selling, general and administrative 147 95 — $ 697 939 Total $ 147 $ 95 $ — $ 697 $ 939 Capital expenditures $ 1,374 $ 605 $ — $ 6,147 $ 8,126 The following financial information represents the operating results of the reportable segments of the Company: Year ended July 31, 2018 Clinical Life Therapeutics Other Consolidated Revenues $ 71,077 $ 29,936 $ — $ — $ 101,013 Operating costs, expenses and legal settlements, net: Cost of revenues 46,008 14,377 — — 60,385 Research and development — 2,305 905 — 3,210 Selling, general and administrative 24,656 11,617 — 8,182 44,455 Legal fee expense 67 58 — 5,002 5,127 Total operating costs, expenses and legal settlements, net 70,731 28,357 905 13,184 113,177 Operating income (loss) 346 1,579 (905 ) (13,184 ) (12,164 ) Other income (expense) Interest (91 ) 50 — 894 853 Other 29 11 — 128 168 Foreign exchange loss — (275 ) — — (275 ) Income (loss) before taxes $ 284 $ 1,365 $ (905 ) $ (12,162 ) $ (11,418 ) Depreciation and amortization included above $ 1,667 $ 1,387 $ — $ 76 $ 3,130 Share-based compensation included in above: Selling, general and administrative 125 79 — $ 609 813 Total $ 125 $ 79 $ — $ 609 $ 813 Capital expenditures $ 1,685 $ 203 $ — $ — $ 1,888 The following financial information represents the operating results of the reportable segments of the Company: Year ended July 31, 2017 Clinical Life Therapeutics Other Consolidated Total revenues $ 74,689 $ 30,397 $ — $ — $ 105,086 Operating costs, expenses and legal settlements, net: Cost of product revenues 45,400 14,078 — — 59,478 Research and development — 2,311 617 — 2,928 Selling, general and administrative 24,465 11,289 — 8,395 44,149 Legal fee expense 146 79 — 1,454 1,679 Total operating costs, expenses and legal settlements, net 70,011 27,757 617 9,849 108,234 Operating income (loss) 4,678 2,640 (617 ) (9,849 ) (3,148 ) Other income (expense) Interest (112 ) 46 — 450 384 Other 137 (60 ) — 48 125 Foreign exchange gain — 135 — — 135 Income (loss) before taxes $ 4,703 $ 2,761 $ (617 ) $ (9,351 ) $ (2,504 ) Depreciation and amortization included above $ 1,586 $ 1,913 $ — $ 99 $ 3,598 Share-based compensation included above: Cost of clinical laboratory services $ 6 $ — $ — $ — $ 6 Selling, general and administrative 111 74 — $ 640 825 Total $ 117 $ 74 $ — $ 640 $ 831 Capital expenditures $ 1,363 $ 390 $ — $ — $ 1,753 Geographic financial information is as follows: Net sales to unaffiliated customers: 2019 2018 2017 United States $ 72,387 $ 91,688 $ 96,751 Switzerland 2,611 2,584 2,371 United Kingdom 1,611 1,851 1,673 Other international countries 4,561 4,890 4,291 Total $ 81,170 $ 101,013 $ 105,086 Long-lived assets at July 31, 2019 2018 United States $ 22,057 $ 16,210 Switzerland 376 502 United Kingdom 64 127 Other international countries 96 135 Total $ 22,593 $ 16,974 The Company’s reportable segments are determined based on the services they perform, the products they sell, and the royalties and license fee income they earn, not on the geographic area in which they operate. The Company’s Clinical Laboratory Services segment operates 100% in the United States with all revenue derived there. The Life Sciences Products segment earns product revenue both in the United States and foreign countries and royalty and license fee income in the United States. The following is a summary of the Life Sciences Products segment revenues attributable to customers located in the United States and foreign countries: 2019 2018 2017 United States $ 21,272 $ 20,610 $ 22,062 Foreign countries 8,783 9,326 8,335 $ 30,055 $ 29,936 $ 30,397 |
Summary of Selected Quarterly F
Summary of Selected Quarterly Financial Data (unaudited) | 12 Months Ended |
Jul. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Note 17 - Summary of Selected Quarterly Financial Data (unaudited) The following table contains statement of operations information for each quarter of the years ended July 31, 2019 and 2018. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. Unaudited quarterly financial data for fiscal 2019 and 2018 is summarized as follows: Quarter Ended Fiscal 2019 October 31, January 31, April 30, July 31, Total revenues $ 21,260 $ 19,327 $ 19,662 $ 20,921 Gross profit 7,021 4,579 5,302 6,346 Income (loss) before income taxes (5,978 ) (8,408 ) 22,265 (5,390 ) Net income (loss) (5,978 ) (8,408 ) 22,265 (5,390 ) Basic and diluted income (loss) per common share $ (0.13 ) $ (0.18 ) $ 0.47 $ (0.11 ) Quarter Ended Fiscal 2018 October 31, 2017 January 31, 2018 April 30, 2018 July 31, 2018 Total revenues $ 27,676 $ 26,952 $ 25,630 $ 24,455 Gross profit 12,245 11,345 11,073 9,665 Income (loss) before income taxes (640 ) (1,998 ) (3,016 ) (5,758 ) Net income (loss) (640 ) (901 ) (3,016 ) (5,758 ) Basic and diluted loss per common share $ (0.01 ) $ (0.02 ) $ (0.06 ) $ (0.11 ) |
SCHEDULE II VALUATION AND QUALI
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended |
Jul. 31, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENZO BIOCHEM, INC As of and for the Years ended July 31, 2019, 2018 and 2017 (in thousands) Year ended Description Balance at Charged Charged Deductions Balance at 2019 Allowance for doubtful accounts receivable 145 42 21 (1) 166 2018 Allowance for doubtful accounts receivable 147 — 2 (1) 145 2017 Allowance for doubtful accounts receivable 102 57 12 (1) 147 2019 Deferred tax valuation allowance 24,471 (944 ) 23,527 2018 Deferred tax valuation allowance 32,581 (8,110 ) 24,471 2017 Deferred tax valuation allowance 34,912 (2,331 ) 32,581 (1) Write-off of uncollectible accounts receivable. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | Nature of business Enzo Biochem, Inc. (the “Company”) is an integrated diagnostics, clinical lab, and life sciences company engaged in research, development, manufacturing and marketing of diagnostic and research products based on genetic engineering, biotechnology and molecular biology. These products are designed for the diagnosis of and/or screening for infectious diseases, cancers, genetic defects and other medically pertinent diagnostic information and are distributed in the United States and internationally. The Company is conducting research and development activities in the development of therapeutic products based on the Company’s technology platform of genetic modulation and immune modulation. The Company also operates a clinical laboratory that offers and provides molecular and esoteric diagnostic medical testing services in the New York, New Jersey, and Connecticut medical communities. The Company operates in three segments (see Note 16). |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries, Enzo Clinical Labs, Inc., Enzo Life Sciences, Inc. (and its wholly-owned foreign subsidiaries), Enzo Therapeutics, Inc., Enzo Realty LLC (“Realty”) and Enzo Realty II, LLC (“Realty II”). All intercompany transactions and balances have been eliminated. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with 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 revenues and expenses during the reporting periods. Actual results could differ from those estimates . |
Commitments and Contingencies, Policy [Policy Text Block] | Contingencies Contingencies are evaluated in accordance with ASC 450-20, Contingencies, and a liability is recorded when the matter is both probable and reasonably estimable. Gain contingencies are evaluated and not recognized until the gain is realizable or realized. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation/Transactions The Company has determined that the functional currency for its foreign subsidiaries is the local currency. For financial reporting purposes, assets and liabilities denominated in foreign currencies are translated at current exchange rates and profit and loss accounts are translated at weighted average exchange rates. Resulting translation gains and losses are included as a separate component of stockholders’ equity as accumulated other comprehensive income or loss. Gains or losses resulting from transactions entered into in other than the functional currency are recorded as foreign exchange gains and losses in the consolidated statements of operations. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents Cash and cash equivalents consist of demand deposits with banks and highly liquid money market funds. At July 31, 2019 and 2018, the Company had cash and cash equivalents in foreign bank accounts of $0.7 million and $0.4 million, respectively. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Values of Financial Instruments The recorded amounts of the Company’s cash and equivalents, receivables, loan payable, accounts payable and accrued liabilities approximate their fair values principally because of the short-term nature of these items. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents and accounts receivable. The Company believes the fair value of the aforementioned financial instruments approximates the cost due to the immediate or short-term nature of these items. Concentration of credit risk with respect to the Company’s Life Sciences products segment is mitigated by the diversity of the Company’s customers and their dispersion across many different geographic regions. To reduce risk, the Company routinely assesses the financial strength of these customers and, consequently, believes that its accounts receivable credit exposure with respect to these customers is limited. The Company believes that the concentration of credit risk with respect to the Clinical Laboratory services accounts receivable is mitigated by the diversity of third party payers that insure individuals. To reduce risk, the Company routinely assesses the financial strength of these payers and, consequently, believes that its accounts receivable credit risk exposure, with respect to these payers, is limited. While the Company also has receivables due from the Federal Medicare program, the Company does not believe that these receivables represent a credit risk since the Medicare program is funded by the federal government and payment is primarily dependent on our submitting the appropriate documentation. Other than the Medicare program, one provider whose programs are included in the “Third-party payers” and “Health Maintenance Organizations” (“HMO’s”) categories represents approximately 36%, 39% and 39% of Clinical Services net revenue for the years ended July 31, 2019, 2018 and 2017 respectively. |
Accrual For Self-Funded Medical [Policy Text Block] | Accrual for Self-Funded Medical Accruals for self-funded medical insurance are determined based on a number of assumptions and factors, including historical payment trends, claims history and current estimates. These estimated liabilities are not discounted. If actual trends differ from these estimates, the financial results could be impacted. |
Contractual Adjustments and Third Party Settlements, Policy [Policy Text Block] | Contractual Adjustment The Company’s estimate of contractual adjustment is based on significant assumptions and judgments, such as its interpretation of payer reimbursement policies, and bears the risk of change. The estimation process is based on the experience of amounts approved as reimbursable and ultimately settled by payers, versus the corresponding gross amount billed to the respective payers. The contractual adjustment is an estimate that reduces gross revenue based on gross billing rates to amounts expected to be approved and reimbursed. Gross billings are based on a standard fee schedule the Company sets for all third-party payers, including Medicare, HMO’s and managed care providers. The Company adjusts the contractual adjustment estimate quarterly, based on its evaluation of current and historical settlement experience with payers, industry reimbursement trends, and other relevant factors which include the monthly and quarterly review of: 1) current gross billings and receivables and reimbursement by payer, 2) current changes in third party arrangements and 3) the growth of in-network provider arrangements and managed care plans specific to our Company. During the years ended July 31, 2019, 2018 and 2017, the contractual adjustment percentages, determined using current and historical reimbursement statistics, were approximately 88%, 85% and 84%, respectively, of gross billings. |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are reported at realizable value, net of allowances for doubtful accounts, which is estimated and recorded in the period of the related revenue. The Company’s ability to collect outstanding receivables from third-party payers is critical to its operating performance and cash flows. The primary collection risk lies with uninsured patients or patients for whom primary insurance has paid but a patient portion remains outstanding. The Company also assesses the current state of its billing functions in order to identify any known collection issues and to assess the impact, if any, on the allowance estimates which involves judgment. The Company believes that the collectability of its receivables is directly linked to the quality of its billing processes, most notably, those related to obtaining the correct information in order to bill effectively for the services provided. Should circumstances change (e.g. shift in payer mix, decline in economic conditions or deterioration in aging of receivables), our estimates of net realizable value of receivables could be reduced by a material amount. The Clinical Laboratory Services segment’s net receivables are detailed by billing category and as a percent to its total net receivables. At July 31, 2019 and 2018, approximately 63% and 74% respectively, of the Company’s net accounts receivable relates to its Clinical Laboratory Services business, which operates in the New York, New Jersey and Connecticut medical communities. The following is a table of the Company’s net accounts receivable by segment. July 31, 2019 July 31, 2018 Net accounts receivable by segment Amount % Amount % Clinical Labs (by billing category) Third party payers $ 2,956 44 $ 4,692 48 Patient self-pay 2,360 35 2,010 20 Medicare 910 13 1,740 18 HMO’s 574 8 1,329 14 Total Clinical Labs 6,800 100 % 9,771 100 % Total Life Sciences 3,938 3,376 Total accounts receivable – net $ 10,738 $ 13,147 |
Inventory, Policy [Policy Text Block] | Inventories The Company values inventory at the lower of cost (first-in, first-out) or net realizable value. Work-in-process and finished goods inventories consist of material, labor, and manufacturing overhead. Write downs of inventories to net realizable value are based on a review of inventory quantities on hand and estimated sales forecasts based on sales history and anticipated future demand. Unanticipated changes in demand could have a significant impact on the value of our inventory and require additional write downs of inventory which would impact our results of operations. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, plant and equipment Property, plant and equipment is stated at cost, and depreciated on the straight-line basis over the estimated useful lives of the various asset classes as follows: building and building improvements: 15-30 years, and laboratory machinery and equipment and office furniture and computer equipment which range from 3-10 years. Leasehold improvements are amortized over the term of the related leases or estimated useful lives of the assets, whichever is shorter. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Intangible assets (exclusive of patents), arose primarily from acquisitions, and primarily consist of customer relationships, trademarks, licenses, and website and database content. Our intangible assets are all finite-lived and are amortized according to their estimated useful lives, which range from 4 to 15 years. Patents represent capitalized legal costs incurred in pursuing patent applications. When such applications result in an issued patent, the related capitalized costs, if any, are amortized over a ten year period or the life of the patent, whichever is shorter, using the straight-line method. The Company reviews its issued patents and pending patent applications, and if it determines to abandon a patent application or that an issued patent no longer has economic value, the unamortized balance in deferred patent costs relating to that patent is immediately expensed. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment testing for Goodwill and Long-Lived Assets The Company tests goodwill annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. In assessing goodwill for impairment, the Company has the option to first perform a qualitative assessment to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company is not required to perform any additional tests in assessing goodwill for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it identifies the reporting units and compares the fair value of each of these reporting units to their respective carrying amount. If the carrying amount of the reporting unit is less than its fair value, no impairment exists. If the carrying amount of the reporting unit is higher than its fair value, the impairment charge is the amount by which the carrying amount exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company performed a quantitative assessment in 2019, 2018 and 2017, and concluded there were no goodwill impairments. The Company reviews the recoverability of the carrying value of long-lived assets (including its intangible assets, all of which have finite lives) of an asset or asset group for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. Should indicators of impairment exist, the carrying values of the assets are evaluated in relation to the operating performance and future undiscounted cash flows of an asset or asset group. The net book value of the long lived asset is adjusted to fair value if its expected future undiscounted cash flow is less than its book value. There were no long-lived asset impairments in 2019, 2018 or 2017. |
Comprehensive Loss [Policy Text Block] | Comprehensive income (loss) Comprehensive income (loss) consists of the Company’s consolidated net income (loss) and foreign currency translation adjustments. Foreign currency translation adjustments included in comprehensive income (loss) were not tax effected as investments in international affiliates are deemed to be permanent. Accumulated other comprehensive income is a separate component of stockholders’ equity and consists of the cumulative foreign currency translation adjustments. |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping and Handling Costs Shipping and handling costs associated with the distribution of finished goods to customers are recorded in cost of goods sold. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to expense as incurred. |
Advertising Cost [Policy Text Block] | Advertising All costs associated with advertising are expensed as incurred. Advertising expense, included in selling, general and administrative expense, approximated $374, $580 and $649 for the years ended July 31, 2019, 2018 and 2017, respectively. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under the liability method of accounting for income taxes. Under the liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The liability method requires that any tax benefits recognized for net operating loss carry forwards and other items be reduced by a valuation allowance when it is more likely than not that the benefits may not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the liability method, 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. It is the Company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. At July 31, 2019, the Company believes it has appropriately accounted for any unrecognized tax benefits. To the extent the Company prevails in matters for which a liability for an unrecognized tax benefit is established or is required to pay amounts in excess of the liability, the Company’s effective tax rate in a given financial statement period may be affected. |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company separately reports information about each operating segment that engages in business activities from which the segment may earn revenues and incur expenses, whose separate operating results are regularly reviewed by the chief operating decision maker regarding allocation of resources and performance assessment and which exceed specific quantitative thresholds related to revenue and profit or loss. The Company’s operating activities are reported in three segments (see Note 16). |
Earnings Per Share, Policy [Policy Text Block] | Net income (loss) per share Basic net income (loss) per share represents net income (loss) divided by the weighted average number of common shares outstanding during the period. The dilutive effect of potential common shares, consisting of outstanding stock options and unvested restricted stock, is determined using the treasury stock method. Diluted weighted average shares outstanding for fiscal 2018 and 2017 do not include the potential common shares from stock options and unvested restricted stock because to do so would have been antidilutive and as such is the same as basic weighted average shares outstanding for 2018 and 2017. For 2019 approximately 125,000 weighted average stock options were included in the calculation of diluted weighted average shares outstanding. The number of potential common shares (“in the money options”) and unvested restricted stock excluded from the calculation of diluted weighted average shares outstanding for the years ended July 31, 2018 and 2017 was 624,000, and 961,000, respectively. For the years ended July 31, 2019, 2018 and 2017, the effect of approximately 1,324,000, 291,000 and zero respectively, of outstanding “out of the money” options to purchase common shares were excluded from the calculation of diluted weighted average shares outstanding because their effect would be anti-dilutive. The following table sets forth the computation of basic and diluted net income (loss) per share for the years ended July 31: 2019 2018 2017 Net income (loss) $ 2,489 $ (10,321 ) $ (2,504 ) Weighted-average common shares outstanding - basic 47,351 46,972 46,350 Add: effect of dilutive stock options and restricted stock 125 — — Weighted-average common shares outstanding - diluted 47,476 46,972 46,350 Net (loss) income per share – basic $ 0.05 $ (0.22 ) $ (0.05 ) Net (loss) income per share – diluted $ 0.05 $ (0.22 ) $ (0.05 ) |
Share-based Payment Arrangement [Policy Text Block] | Share-Based Compensation The Company records compensation expense associated with stock options and restricted stock based upon the fair value of stock based awards as measured at the grant date. The Company determines the award values of stock options using the Black Scholes option pricing model. The expense is recognized by amortizing the fair values on a straight-line basis over the vesting period, adjusted for forfeitures when they occur. For the years ended July 31, 2019, 2018 and 2017, share-based compensation expense relating to the fair value of stock options, restricted shares and restricted stock units was approximately $939, $813, and $831, respectively (see Note 11). No excess tax benefits were recognized for the year ended July 31, 2019, 2018 and 2017. The following table sets forth the amount of expense related to share-based payment arrangements included in specific line items in the accompanying statement of operations for the years ended July 31: 2019 2018 2017 Cost of clinical laboratory services $ — $ — $ 6 Selling, general and administrative 939 813 825 $ 939 $ 813 $ 831 As of July 31, 2019, there was $986 of total unrecognized compensation cost related to non-vested share-based payment arrangements granted under the Company’s incentive stock plans, which will be recognized over a weighted average remaining life of approximately eighteen months. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements On August 1, 2018, the Company adopted a new accounting standard issued by the Financial Accounting Standards Board (“FASB”) on revenue recognition using the full retrospective method. This new accounting standard outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. This standard supersedes existing revenue recognition requirements and eliminates most industry-specific revenue recognition guidance from U.S. GAAP. The core principle of the revenue recognition standard is to require an entity to recognize as revenue the amount that reflects the consideration which it expects to be entitled to when control of goods or services are transferred to its customers. As a result of the Company’s adoption of this standard, the majority of the amounts that were historically classified as bad debt expense, primarily related to patient responsibility, are now considered an implicit price concession in determining net revenues from clinical services. Accordingly, the Company reports estimated uncollectible balances associated with patient responsibility as a reduction of the transaction price and therefore as a reduction in net revenues, when historically these amounts were classified and separately reported as a provision for uncollectible accounts receivable. The adoption of this standard has no impact on revenues reported for life sciences products. The adoption of this new accounting standard resulted in increased disclosure, including qualitative and quantitative disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. For further details, see Note 3. The impact of the adoption of the standard on prior period consolidated operations, cash flows and balance sheet is presented in the table below: As Adjustment for New Reclassification As Restated Consolidated Statements of Operations for Total Revenues $104,713 ($3,700) — $101,013 Provision for uncollectible accounts receivable 3,690 (3,700) $10 — Selling, general and administrative expenses 44,465 — (10) 44,455 Net loss (10,321) — — (10,321) Consolidated Statements of Cash Flows Provision for uncollectible accounts receivable 3,690 (3,700) 10 — Changes in operating assets and liabilities: (1,775) 3,700 (10) 1,915 Consolidated balance sheet July 31, 2018: Accounts receivable 15,815 (2,523) — 13,292 Less: Allowance for doubtful accounts 2,668 (2,523) — 145 Accounts receivable, net of allowance for doubtful accounts 13,147 — — 13,147 Consolidated Statements of Operations for Total Revenues $107,804 ($2,718) — $105,086 Provision for uncollectible accounts receivable 2,775 (2,718) ($57) — Selling, general and administrative expenses 44,092 — 57 44,149 Net loss (2,504) — — (2,504) Consolidated Statements of Cash Flows Provision for uncollectible accounts receivable $2,775 ($2,718) ($57) — Changes in operating assets and liabilities: (3,244) 2,718 57 ($469) On August 1, 2018, the Company adopted a new accounting standard issued by FASB which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. Adoption of this standard requires that amendments in the update be applied prospectively to an award modified on or after the adoption date. For the foreseeable future, any excess income tax benefits or deficiencies from stock-based compensation, which would be recognized as discrete items within income tax expense rather than additional paid in capital, will be offset by an equivalent adjustment to the deferred tax valuation allowance. Accordingly, adoption of this standard had no impact on our reported operations. |
Pronouncements Issued But Not Yet Adopted Policy | Pronouncements Issued but Not Yet Adopted In February 2016, FASB issued ASU No. 2016-02 – Leases (Topic 842), as amended. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset, which is an asset that represents the lessee’s right to use or control the use of a specified asset for the lease term, and a lease liability which is a lessee’s obligation to make lease payments arising from a lease measured on a discounted basis, on the balance sheet for all leases with terms longer than 12 months, at the commencement date of the lease. Leases will be classified as either operating or finance, with classification affecting the pattern of expense recognition in the income statement. The ASU is effective for the Company in the first quarter of fiscal 2020. We will adopt the standard using a modified retrospective transition approach and will not restate our comparative periods. The new standard provides a number of optional practical expedients. The Company expects to elect the package of three practical expedients. As such, the Company will not reassess whether expired or existing contracts are or contain a lease and will not need to reassess the lease classifications or reassess the initial direct costs associated with expired or existing leases. The Company expects not to elect the hindsight practical expedient and the land easement practical expedient, neither of which are applicable to the Company. The Company expects that this standard will have a material effect on our financial statements. While the Company continues to assess all of the effects of adoption, the Company believes the most significant effects relate to: (i) the recognition of new right of use assets and lease liabilities on our balance sheet for primarily real estate operating leases and (ii) providing significant new disclosures about our leasing activities. The Company does not expect a significant change in our leasing activities between now and adoption. As a result of the adoption of the new standard the Company expects to recognize approximately $25 million of lease right of use assets and related lease liabilities on our consolidated balance sheet upon adoption, primarily relating to real estate with respect to the Company’s operating leases. Accounting for the Company’s finance leases will remain substantially unchanged. Additionally, the standard will not materially impact the Company’s results of operations or cash flows. We are substantially complete with our implementation efforts. In June 2016, FASB issued ASU No. 2016-13 Financial Instruments – Credit Losses (Topic 326) |
Reclassification, Policy [Policy Text Block] | Reclassification Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on the reported results of operations. |
Summary of significant accoun_2
Summary of significant accounting policies (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule Of Accounts Receivable By Segment [Table Text Block] | The following is a table of the Company’s net accounts receivable by segment. July 31, 2019 July 31, 2018 Net accounts receivable by segment Amount % Amount % Clinical Labs (by billing category) Third party payers $ 2,956 44 $ 4,692 48 Patient self-pay 2,360 35 2,010 20 Medicare 910 13 1,740 18 HMO’s 574 8 1,329 14 Total Clinical Labs 6,800 100 % 9,771 100 % Total Life Sciences 3,938 3,376 Total accounts receivable – net $ 10,738 $ 13,147 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted net income (loss) per share for the years ended July 31: 2019 2018 2017 Net income (loss) $ 2,489 $ (10,321 ) $ (2,504 ) Weighted-average common shares outstanding - basic 47,351 46,972 46,350 Add: effect of dilutive stock options and restricted stock 125 — — Weighted-average common shares outstanding - diluted 47,476 46,972 46,350 Net (loss) income per share – basic $ 0.05 $ (0.22 ) $ (0.05 ) Net (loss) income per share – diluted $ 0.05 $ (0.22 ) $ (0.05 ) |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | The following table sets forth the amount of expense related to share-based payment arrangements included in specific line items in the accompanying statement of operations for the years ended July 31: 2019 2018 2017 Cost of clinical laboratory services $ — $ — $ 6 Selling, general and administrative 939 813 825 $ 939 $ 813 $ 831 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The impact of the adoption of the standard on prior period consolidated operations, cash flows and balance sheet is presented in the table below: As Adjustment for New Reclassification As Restated Consolidated Statements of Operations for Total Revenues $104,713 ($3,700) — $101,013 Provision for uncollectible accounts receivable 3,690 (3,700) $10 — Selling, general and administrative expenses 44,465 — (10) 44,455 Net loss (10,321) — — (10,321) Consolidated Statements of Cash Flows Provision for uncollectible accounts receivable 3,690 (3,700) 10 — Changes in operating assets and liabilities: (1,775) 3,700 (10) 1,915 Consolidated balance sheet July 31, 2018: Accounts receivable 15,815 (2,523) — 13,292 Less: Allowance for doubtful accounts 2,668 (2,523) — 145 Accounts receivable, net of allowance for doubtful accounts 13,147 — — 13,147 Consolidated Statements of Operations for Total Revenues $107,804 ($2,718) — $105,086 Provision for uncollectible accounts receivable 2,775 (2,718) ($57) — Selling, general and administrative expenses 44,092 — 57 44,149 Net loss (2,504) — — (2,504) Consolidated Statements of Cash Flows Provision for uncollectible accounts receivable $2,775 ($2,718) ($57) — Changes in operating assets and liabilities: (3,244) 2,718 57 ($469) |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | The Company’s change in the net carrying amount of intangible assets, all in the Life Sciences Products segment is as follows: Gross Accumulated Net July 31, 2017 $ 27,436 $ (24,541 ) $ 2,895 Amortization expense — (992 ) (992 ) Foreign currency translation (89 ) 72 (17 ) July 31, 2018 $ 27,347 $ (25,461 ) $ 1,886 Amortization expense — (842 ) (842 ) Foreign currency translation (109 ) 98 (11 ) July 31, 2019 $ 27,238 $ (26,205 ) $ 1,032 |
Schedule of Intangible Assets [Table Text Block] | Intangible assets, all finite-lived, consist of the following: July 31, 2019 July 31, 2018 Gross Accumulated Net Gross Accumulated Net Patents $ 11,027 $ (10,996 ) $ 31 $ 11,027 $ (10,980 ) $ 47 Customer relationships 11,746 (10,745 ) 1,001 11,836 (9,997 ) 1,839 Website and acquired content 1,008 (1,008 ) — 1,008 (1,008 ) — Licensed technology and other 483 (483 ) — 483 (483 ) — Trademarks 2,974 (2,974 ) — 2,993 (2,993 ) — Total $ 27,238 $ (26,206 ) $ 1,032 $ 27,347 $ (25,461 ) $ 1,886 |
Schedule of Useful Lives For Acquisitions [Table Text Block] | At July 31, 2019 information with respect to the intangibles acquired is as follows: Useful life assigned Weighted average remaining useful life Customer relationships 8-15 years 1 years Other intangibles 10 years 3 years |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated amortization expense related to these finite-lived intangible assets for the five succeeding fiscal years ending July 31 is as follows: 2020 $ 513 2021 279 2022 240 2023 — 2024 — |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Schedule Of Segment Revenue And Revenue Percentage [Table Text Block] | The following table represents clinical services net revenues and percentages by type of customer: Year ended July 31, Year ended July 31, Year ended July 31, Revenue category Revenue % Revenue % Revenue % Third-party payers $ 26,653 52 $ 41,370 58 $ 43,059 58 Medicare 10,898 21 12,111 17 12,705 17 HMO’s 6,213 12 11,359 16 10,263 14 Patient self-pay 7,351 15 6,237 9 8,662 11 Total $ 51,115 100 % $ 71,077 100 % $ 74,689 100 % |
Schedule of Product Revenue By Geographical [Table Text Block] | Products revenue by geography is as follows: 2019 2018 2017 United States $ 16,965 $ 15,524 $ 16,533 Europe 5,922 6,326 5,659 Rest of the world 7,168 7,374 7,000 Products revenue $ 30,055 $ 29,224 $ 29,192 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventories consisted of the following at July 31: 2019 2018 Raw materials $ 876 $ 754 Work in process 2,566 2,174 Finished products 4,400 4,350 $ 7,842 $ 7,278 |
Property, plant, and equipment
Property, plant, and equipment (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | At July 31, 2019 and 2018 property, plant, and equipment consist of: 2019 2018 Building and building improvements $ 10,334 $ 4,917 Machinery and equipment (includes assets under capital lease - see Note 9) 8,538 7,570 Office furniture and computer equipment 16,229 15,362 Leasehold improvements 5,270 5,262 40,371 33,111 Accumulated depreciation and amortization (28,179 ) (26,187 ) 12,192 6,924 Land and land improvements 2,062 712 $ 14,254 $ 7,636 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The benefit for income taxes for fiscal years ended July 31 is as follows: 2019 2018 2017 Federal $ — $ 1,097 $ — State and local — — — Foreign — — — Deferred benefit — — — Benefit for income taxes $ — $ 1,097 $ — |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax assets and liabilities arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The components of deferred tax assets (liabilities) as of July 31 are as follows: 2019 2018 Deferred tax assets: Federal tax carryforward losses $ 12,558 $ 13,975 Provision for uncollectible accounts receivable 1,116 791 State and local tax carry forward losses 144 352 Accrued royalties 101 102 Stock compensation 769 575 Depreciation 682 581 Research and development and other tax credit carryforwards 1,350 1,286 Foreign tax carryforward losses 3,783 2,771 Intangibles and goodwill 1,479 1,811 Inventory 1,086 1,786 Accrued expenses 1,127 1,194 Other, net 82 58 Deferred tax assets 24,277 25,282 Prepaid expenses (626 ) (772 ) Other, net (124 ) (39 ) Deferred tax liabilities (750 ) (811 ) Net deferred tax assets before valuation allowance 23,527 24,471 Less: valuation allowance (23,527 ) (24,471 ) Net deferred tax liabilities $ — $ — |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The components of income (loss) before income taxes consisted of the following for the years ended July 31: 2019 2018 2017 United States operations $ 4,618 $ (9,540 ) $ (212 ) International operations (2,129 ) (1,878 ) (2,292 ) Income (loss) before taxes $ 2,489 $ (11,418 ) $ (2,504 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The benefit for income taxes was at rates different from U.S. federal statutory rates for the following reasons for the years ended July 31: 2019 2018 2017 Federal statutory rate (21.0 )% 26.4 % 34.0 % Compensation and other expenses not deductible for (15.3 ) (1.0 ) (14.5 ) Change in valuation allowance 36.3 73.9 64.0 State tax law change — — (81.1 ) Impact of Tax Act on valuation allowance — (100.1 ) — AMT refund under Tax Act — 9.6 — Other — 0.8 (2.4 ) — % 9.6 % — % |
Loan Payable (Tables)
Loan Payable (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | For the years ending July 31, principal payments due on the loan are as follows: Total 2020 $ 136 2021 144 2022 152 2023 160 2024 167 Thereafter 3,626 Total principal payments 4,385 Less: current portion, included in other current liabilities (136 ) unamortized mortgage costs (70 ) Loan payable - net $ 4,179 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | At July 31, accrued liabilities consist of: 2019 2018 Payroll, benefits, and commissions $ 5,123 $ 4,870 Professional fees 774 811 Legal 164 2,121 Other 2,301 2,252 $ 8,362 $ 10,054 |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | |
Schedule of Other Liabilities [Table Text Block] | At July 31, Other liabilities consist of: 2019 2018 Capital lease obligations, net of current portion $ 424 $ 351 Installment loans — 2 $ 424 $ 353 |
Schedule Of Maturities Of Long Term Debt and Capital Lease Obligation [Table Text Block] | Future minimum lease and loan payments for the years ending July 31 are as follows: Capital leases Installment 2020 $ 292 $ 2 2021 236 — 2022 79 — 2023 83 — 2024 26 Total payments 716 2 Less: interest (37 ) — Total net of interest 679 2 Less: current portion, included in other current liabilities (255 ) (2 ) Other liabilities - net $ 424 $ — |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | A summary of the activity pursuant to the Company’s stock option plans for the years ended July 31, 2019, 2018, and 2017 is as follows: 2019 2018 2017 Options Weighted - Options Weighted - Options Weighted - Outstanding at beginning of year 1,882,116 $ 4.96 2,132,995 $ 4.26 1,813,875 $ 3.43 New Grants 715,321 $ 2.81 415,580 $ 5.57 493,996 $ 7.07 Exercised (238,230 ) $ 2.69 (635,624 ) $ 2.98 (141,876 ) $ 3.19 Expired (8,167 ) $ 6.55 (30,835 ) $ 5.97 (33,000 ) $ 5.29 Outstanding at end of year 2,351,040 $ 4.53 1,882,116 $ 4.99 2,132,995 $ 4.26 Exercisable at end of year 1,342,564 $ 5.16 1,149,489 $ 4.28 1,388,475 $ 3.27 Weighted average fair value of options granted during year $ 1.07 $ 1.91 $ 2.45 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Listed below are the assumptions used to fair value options granted during fiscal years 2019, 2018 and 2017: Grant Year Options Exercise Price Range Term Vesting (years) FMV of Share Expected Expected Interest Vested 2019 715,321 $2.80 - $3.21 5 2 - 3 $1.06 – $1.23 3.25 - 3.5 48.06 - 50.56 2.47- 2.96 — 2018 415,580 $4.42 - $8.36 5 2 - 3 $1.53 - $2.76 3.25 - 3.5 42.59 - 46.14 2.07- 2.79 166,860 2017 493,996 $7.07 5 2 - 3 $2.40 - $2.48 3.25 - 3.5 45.85 - 46.28 1.48- 1.54 394,296 |
Schedule of Share based Compensation Stock Options Activity Range of Exercise Prices [Table Text Block] | The following table summarizes information for stock options outstanding at July 31, 2019: Range of Exercise prices Range of Exercise prices Shares Weighted-Average Remaining Contractual Life in Years Weighted-Average Exercise Price $2.80 $4.35 1,266,592 1.58 $ 3.25 $4.42 $7.07 968,868 1.10 $ 5.75 $8.25 $8.36 115,580 0.17 $ 8.36 2,351,040 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | The following table summarizes the activity pursuant to restricted stock awards for the years ended July 31, 2019 2018 2017 Awards Weighted - Awards Weighted - Awards Weighted - Outstanding at beginning of year 2,613 $ 1.74 7,436 $ 4.45 8,501 $ 4.13 Awarded — $ — — $ — 4,250 $ 6.95 Vested (986 ) $ (6.71 ) (2,874 ) $ (5.20 ) (5,140 ) $ (4.10 ) Forfeited — $ — (1,949 ) $ (5.18 ) (175 ) $ (2.14 ) Outstanding (non-vested) at end of year 1,627 $ 5.14 2,613 $ 1.74 7,436 $ 4.45 Weighted average market value of awards granted during year $ — $ — $ 6.95 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | The following table summarizes PSU’s granted: Period Total Fair Market Value 7/31/2019 80,500 $ 225 7/31/2018 32,000 $ 141 |
Employee benefit plan (Tables)
Employee benefit plan (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Substantially Funded [Table Text Block] | The status of the Swiss Plan, which is substantially funded as of December 31, 2018, the latest plan year end, is as follows: As of December 31, 2018 2017 2016 Total Assets $ 2,064 $ 1,849 $ 2,184 Accumulated Benefit Obligation $ 2,308 $ 2,094 $ 2,432 Funded status 90 % 88 % 90 % |
Schedule of Contributions Plan [Table Text Block] | Fiscal Year ended July 31, 2018 2017 2016 Contributions $ 208 $ 205 $ 224 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum future annual rentals under all non-cancellable operating leases, net of sublease rental income of $134, as of July 31, 2019, are as follows: Years ending July 31, 2020 $ 9,457 2021 5,878 2022 4,299 2023 3,401 2024 3,107 Thereafter 9,679 $ 35,821 |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following financial information represents the operating results of the reportable segments of the Company: Year ended July 31, 2019 Clinical Life Therapeutics Other Consolidated Revenues $ 51,115 $ 30,055 $ — $ — $ 81,170 Operating costs, expenses and legal settlements, net: Cost of revenues 44,226 13,696 — — 57,922 Research and development 31 2,257 887 — 3,175 Selling, general and administrative 24,230 11,860 — 8,175 44,265 Legal fee expense 159 27 — 2,814 3,000 Legal settlements, net — (28,925 ) — — (28,925 ) Total operating costs, expenses and legal settlements, net 68,646 (1,085 ) 887 10,989 79,437 Operating income (loss) (17,531 ) 31,140 (887 ) (10,989 ) 1,733 Other income (expense) Interest (64 ) 67 — 1,053 1,056 Other 16 2 — 364 382 Foreign exchange loss — (682 ) — — (682 ) Income (loss) before taxes $ (17,579 ) $ 30,527 $ (887 ) $ (9,572 ) $ 2,489 Depreciation and amortization included above $ 1,625 $ 1,221 $ — $ 190 $ 3,036 Share-based compensation included above: Selling, general and administrative 147 95 — $ 697 939 Total $ 147 $ 95 $ — $ 697 $ 939 Capital expenditures $ 1,374 $ 605 $ — $ 6,147 $ 8,126 Year ended July 31, 2018 Clinical Life Therapeutics Other Consolidated Revenues $ 71,077 $ 29,936 $ — $ — $ 101,013 Operating costs, expenses and legal settlements, net: Cost of revenues 46,008 14,377 — — 60,385 Research and development — 2,305 905 — 3,210 Selling, general and administrative 24,656 11,617 — 8,182 44,455 Legal fee expense 67 58 — 5,002 5,127 Total operating costs, expenses and legal settlements, net 70,731 28,357 905 13,184 113,177 Operating income (loss) 346 1,579 (905 ) (13,184 ) (12,164 ) Other income (expense) Interest (91 ) 50 — 894 853 Other 29 11 — 128 168 Foreign exchange loss — (275 ) — — (275 ) Income (loss) before taxes $ 284 $ 1,365 $ (905 ) $ (12,162 ) $ (11,418 ) Depreciation and amortization included above $ 1,667 $ 1,387 $ — $ 76 $ 3,130 Share-based compensation included in above: Selling, general and administrative 125 79 — $ 609 813 Total $ 125 $ 79 $ — $ 609 $ 813 Capital expenditures $ 1,685 $ 203 $ — $ — $ 1,888 Year ended July 31, 2017 Clinical Life Therapeutics Other Consolidated Total revenues $ 74,689 $ 30,397 $ — $ — $ 105,086 Operating costs, expenses and legal settlements, net: Cost of product revenues 45,400 14,078 — — 59,478 Research and development — 2,311 617 — 2,928 Selling, general and administrative 24,465 11,289 — 8,395 44,149 Legal fee expense 146 79 — 1,454 1,679 Total operating costs, expenses and legal settlements, net 70,011 27,757 617 9,849 108,234 Operating income (loss) 4,678 2,640 (617 ) (9,849 ) (3,148 ) Other income (expense) Interest (112 ) 46 — 450 384 Other 137 (60 ) — 48 125 Foreign exchange gain — 135 — — 135 Income (loss) before taxes $ 4,703 $ 2,761 $ (617 ) $ (9,351 ) $ (2,504 ) Depreciation and amortization included above $ 1,586 $ 1,913 $ — $ 99 $ 3,598 Share-based compensation included above: Cost of clinical laboratory services $ 6 $ — $ — $ — $ 6 Selling, general and administrative 111 74 — $ 640 825 Total $ 117 $ 74 $ — $ 640 $ 831 Capital expenditures $ 1,363 $ 390 $ — $ — $ 1,753 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Geographic financial information is as follows: Net sales to unaffiliated customers: 2019 2018 2017 United States $ 72,387 $ 91,688 $ 96,751 Switzerland 2,611 2,584 2,371 United Kingdom 1,611 1,851 1,673 Other international countries 4,561 4,890 4,291 Total $ 81,170 $ 101,013 $ 105,086 Long-lived assets at July 31, 2019 2018 United States $ 22,057 $ 16,210 Switzerland 376 502 United Kingdom 64 127 Other international countries 96 135 Total $ 22,593 $ 16,974 |
Schedule of Segment Revenue By Geographical [Table Text Block] | The following is a summary of the Life Sciences Products segment revenues attributable to customers located in the United States and foreign countries: 2019 2018 2017 United States $ 21,272 $ 20,610 $ 22,062 Foreign countries 8,783 9,326 8,335 $ 30,055 $ 29,936 $ 30,397 |
Summary of Selected Quarterly_2
Summary of Selected Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended |
Jul. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | Unaudited quarterly financial data for fiscal 2019 and 2018 is summarized as follows: Quarter Ended Fiscal 2019 October 31, January 31, April 30, July 31, Total revenues $ 21,260 $ 19,327 $ 19,662 $ 20,921 Gross profit 7,021 4,579 5,302 6,346 Income (loss) before income taxes (5,978 ) (8,408 ) 22,265 (5,390 ) Net income (loss) (5,978 ) (8,408 ) 22,265 (5,390 ) Basic and diluted income (loss) per common share $ (0.13 ) $ (0.18 ) $ 0.47 $ (0.11 ) Quarter Ended Fiscal 2018 October 31, 2017 January 31, 2018 April 30, 2018 July 31, 2018 Total revenues $ 27,676 $ 26,952 $ 25,630 $ 24,455 Gross profit 12,245 11,345 11,073 9,665 Income (loss) before income taxes (640 ) (1,998 ) (3,016 ) (5,758 ) Net income (loss) (640 ) (901 ) (3,016 ) (5,758 ) Basic and diluted loss per common share $ (0.01 ) $ (0.02 ) $ (0.06 ) $ (0.11 ) |
Summary of significant accoun_3
Summary of significant accounting policies (Details) | 12 Months Ended | ||
Jul. 31, 2019USD ($)shares | Jul. 31, 2018USD ($)shares | Jul. 31, 2017USD ($)shares | |
Summary of significant accounting policies (Details) [Line Items] | |||
Number of Operating Segments | 3 | ||
Cash and Cash Equivalents, at Carrying Value | $ 60,146,000 | $ 60,041,000 | $ 64,167,000 |
Contractual Adjustment Percentage | 88.00% | 85.00% | 84.00% |
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 0 | $ 0 |
Advertising Expense | $ 374,000 | 580,000 | 649,000 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements (in Shares) | shares | 125,000 | ||
Share-based Payment Arrangement, Noncash Expense | $ 939,000 | 813,000 | 831,000 |
Excess Tax Benefit from Share-based Compensation, Operating Activities | 0 | $ 0 | $ 0 |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 986,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 18 months | ||
New Accounting Pronouncement Or Change In Accounting Principle Expected Lease Liabilities | $ 25,000,000 | ||
New Accounting Pronouncement Or Change In Accounting Principle Expected Right of Use Assets | $ 25,000,000 | ||
Minimum [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 4 years | ||
Maximum [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Clinical Services [Member] | Revenue Benchmark [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Concentration Risk, Percentage | 63.00% | 71.00% | 71.00% |
Clinical Laboratory Services [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Receivable Percentage | 63.00% | 74.00% | |
Building and Building Improvements [Member] | Minimum [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Building and Building Improvements [Member] | Maximum [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 30 years | ||
Machinery and Equipment [Member] | Minimum [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Machinery and Equipment [Member] | Maximum [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Third-Party Payers And Health Maintenance Organizations [Member] | Clinical Services [Member] | Revenue Benchmark [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Concentration Risk, Percentage | 36.00% | 39.00% | 39.00% |
Foreign Bank [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | $ 700,000 | $ 400,000 | |
Unvested Restricted Stock [Member] | In the Money Stock Options [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | shares | 624,000 | 961,000 | |
Outstanding Options [Member] | |||
Summary of significant accounting policies (Details) [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | shares | 0 |
Summary of significant accoun_4
Summary of significant accounting policies (Details) - Net accounts receivable by segment - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 10,738 | $ 13,147 |
Clinical Labs [Member] | ||
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 6,800 | $ 9,771 |
Accounts Receivable Net Current Percentage | 100.00% | 100.00% |
Clinical Labs [Member] | Third-Party Payer [Member] | ||
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 2,956 | $ 4,692 |
Accounts Receivable Net Current Percentage | 44.00% | 48.00% |
Clinical Labs [Member] | Patient self-pay [Member] | ||
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 2,360 | $ 2,010 |
Accounts Receivable Net Current Percentage | 35.00% | 20.00% |
Clinical Labs [Member] | Medicare [Member] | ||
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 910 | $ 1,740 |
Accounts Receivable Net Current Percentage | 13.00% | 18.00% |
Clinical Labs [Member] | Health Maintenance Organizations [Member] | ||
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 574 | $ 1,329 |
Accounts Receivable Net Current Percentage | 8.00% | 14.00% |
Life Sciences [Member] | ||
Summary of significant accounting policies (Details) - Net accounts receivable by segment [Line Items] | ||
Accounts Receivable Net Current | $ 3,938 | $ 3,376 |
Summary of significant accoun_5
Summary of significant accounting policies (Details) - Computation of basic and diluted net loss per share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Computation of basic and diluted net loss per share [Abstract] | |||||||||||
Net income (loss) (in Dollars) | $ (5,390) | $ 22,265 | $ (8,408) | $ (5,978) | $ (5,758) | $ (3,016) | $ (901) | $ (640) | $ 2,489 | $ (10,321) | $ (2,504) |
Weighted-average common shares outstanding - basic | 47,351 | 46,972 | 46,350 | ||||||||
Add: effect of dilutive stock options and restricted stock | 125 | ||||||||||
Weighted-average common shares outstanding - diluted | 47,476 | 46,972 | 46,350 | ||||||||
Net (loss) income per share – basic (in Dollars per share) | $ 0.05 | $ (0.22) | $ (0.05) | ||||||||
Net (loss) income per share – diluted (in Dollars per share) | $ 0.05 | $ (0.22) | $ (0.05) |
Summary of significant accoun_6
Summary of significant accounting policies (Details) - Amount of expense related to share-based payment arrangements - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share Based Compensation | $ 939 | $ 813 | $ 831 |
Cost of Clinical Laboratory Services [Member] | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share Based Compensation | 6 | ||
Selling, General and Administrative Expenses [Member] | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share Based Compensation | $ 939 | $ 813 | $ 825 |
Summary of significant accoun_7
Summary of significant accounting policies (Details) - Impact to consolidated statements of operations due to adoption of ASU - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total Revenues | $ 81,170 | $ 101,013 | $ 105,086 | ||||||||
Selling, general and administrative expenses | 44,265 | 44,455 | 44,149 | ||||||||
Net loss | $ (5,390) | $ 22,265 | $ (8,408) | $ (5,978) | $ (5,758) | $ (3,016) | $ (901) | $ (640) | 2,489 | (10,321) | (2,504) |
Consolidated Statements of Cash Flows July 31, 2018: | |||||||||||
Changes in operating assets and liabilities: Accounts receivable | 2,404 | 1,915 | (469) | ||||||||
Consolidated balance sheet July 31, 2018: | |||||||||||
Accounts receivable | 13,292 | 13,292 | |||||||||
Less: Allowance for doubtful accounts | 145 | 145 | |||||||||
Accounts receivable, net of allowance for doubtful accounts | $ 10,738 | 13,147 | $ 10,738 | 13,147 | |||||||
Previously Reported [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total Revenues | 104,713 | 107,804 | |||||||||
Provision for uncollectible accounts receivable | 3,690 | 2,775 | |||||||||
Selling, general and administrative expenses | 44,465 | 44,092 | |||||||||
Net loss | (10,321) | (2,504) | |||||||||
Consolidated Statements of Cash Flows July 31, 2018: | |||||||||||
Provision for uncollectible accounts receivable | 3,690 | 2,775 | |||||||||
Changes in operating assets and liabilities: Accounts receivable | (1,775) | (3,244) | |||||||||
Consolidated balance sheet July 31, 2018: | |||||||||||
Accounts receivable | 15,815 | 15,815 | |||||||||
Less: Allowance for doubtful accounts | 2,668 | 2,668 | |||||||||
Accounts receivable, net of allowance for doubtful accounts | 13,147 | 13,147 | |||||||||
Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Total Revenues | (3,700) | (2,718) | |||||||||
Provision for uncollectible accounts receivable | (3,700) | (2,718) | |||||||||
Consolidated Statements of Cash Flows July 31, 2018: | |||||||||||
Provision for uncollectible accounts receivable | (3,700) | (2,718) | |||||||||
Changes in operating assets and liabilities: Accounts receivable | 3,700 | 2,718 | |||||||||
Consolidated balance sheet July 31, 2018: | |||||||||||
Accounts receivable | (2,523) | (2,523) | |||||||||
Less: Allowance for doubtful accounts | $ (2,523) | (2,523) | |||||||||
Accounting Standards Update 2014-09 [Member] | Reclassification Of Residual [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Provision for uncollectible accounts receivable | 10 | (57) | |||||||||
Selling, general and administrative expenses | (10) | 57 | |||||||||
Consolidated Statements of Cash Flows July 31, 2018: | |||||||||||
Provision for uncollectible accounts receivable | 10 | (57) | |||||||||
Changes in operating assets and liabilities: Accounts receivable | $ (10) | $ 57 |
Goodwill and intangible asset_2
Goodwill and intangible assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Goodwill and intangible assets (Details) [Line Items] | |||
Goodwill | $ 7,452 | $ 7,452 | |
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Amortization of Intangible Assets | $ 842 | 992 | $ 1,520 |
Intangible Assets, Amortization Period [Member] | |||
Goodwill and intangible assets (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Clinical Laboratory Services [Member] | |||
Goodwill and intangible assets (Details) [Line Items] | |||
Goodwill | $ 7,452 | $ 7,452 |
Goodwill and intangible asset_3
Goodwill and intangible assets (Details) - Schedule of indefinite-lived intangible assets - Life Sciences [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Indefinite-lived Intangible Assets [Line Items] | |||
Gross | $ 27,238 | $ 27,347 | $ 27,436 |
Accumulated Amortization | (26,205) | (25,461) | (24,541) |
Net | 1,032 | 1,886 | $ 2,895 |
Amortization expense, Accumulated Amortization | (842) | (992) | |
Amortization expense, Net | (842) | (992) | |
Foreign currency translation, Gross | (109) | (89) | |
Foreign currency translation, Accumulated Amortization | 98 | 72 | |
Foreign currency translation, Net | $ (11) | $ (17) |
Goodwill and intangible asset_4
Goodwill and intangible assets (Details) - Schedule of intangible assets - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Goodwill and intangible assets (Details) - Schedule of intangible assets [Line Items] | ||
Finite-lived intangible assets, Gross | $ 27,238 | $ 27,347 |
Finite-lived intangible assets, Accumulated Amortization | (26,206) | (25,461) |
Finite-lived intangible assets, Net | 1,032 | 1,886 |
Patents [Member] | ||
Goodwill and intangible assets (Details) - Schedule of intangible assets [Line Items] | ||
Finite-lived intangible assets, Gross | 11,027 | 11,027 |
Finite-lived intangible assets, Accumulated Amortization | (10,996) | (10,980) |
Finite-lived intangible assets, Net | 31 | 47 |
Customer Relationships [Member] | ||
Goodwill and intangible assets (Details) - Schedule of intangible assets [Line Items] | ||
Finite-lived intangible assets, Gross | 11,746 | 11,836 |
Finite-lived intangible assets, Accumulated Amortization | (10,745) | (9,997) |
Finite-lived intangible assets, Net | 1,001 | 1,839 |
Website And Acquired Content [Member] | ||
Goodwill and intangible assets (Details) - Schedule of intangible assets [Line Items] | ||
Finite-lived intangible assets, Gross | 1,008 | 1,008 |
Finite-lived intangible assets, Accumulated Amortization | (1,008) | (1,008) |
Licensed Technology And Other [Member] | ||
Goodwill and intangible assets (Details) - Schedule of intangible assets [Line Items] | ||
Finite-lived intangible assets, Gross | 483 | 483 |
Finite-lived intangible assets, Accumulated Amortization | (483) | (483) |
Trademarks [Member] | ||
Goodwill and intangible assets (Details) - Schedule of intangible assets [Line Items] | ||
Finite-lived intangible assets, Gross | 2,974 | 2,993 |
Finite-lived intangible assets, Accumulated Amortization | $ (2,974) | $ (2,993) |
Goodwill and intangible asset_5
Goodwill and intangible assets (Details) - Schedule of useful lives for acquisitions | 12 Months Ended |
Jul. 31, 2019 | |
Customer Relationships [Member] | |
Goodwill and intangible assets (Details) - Schedule of useful lives for acquisitions [Line Items] | |
Weighted average remaining useful life | 1 year |
Other Intangible Assets [Member] | |
Goodwill and intangible assets (Details) - Schedule of useful lives for acquisitions [Line Items] | |
Useful life assigned | 10 years |
Weighted average remaining useful life | 3 years |
Minimum [Member] | Customer Relationships [Member] | |
Goodwill and intangible assets (Details) - Schedule of useful lives for acquisitions [Line Items] | |
Useful life assigned | 8 years |
Maximum [Member] | Customer Relationships [Member] | |
Goodwill and intangible assets (Details) - Schedule of useful lives for acquisitions [Line Items] | |
Useful life assigned | 15 years |
Goodwill and intangible asset_6
Goodwill and intangible assets (Details) - Schedule of finite-lived intangible assets, future amortization expense $ in Thousands | Jul. 31, 2019USD ($) |
Schedule of finite-lived intangible assets, future amortization expense [Abstract] | |
2020 | $ 513 |
2021 | 279 |
2022 | 240 |
2023 | |
2024 |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Revenue Recognition (Details) [Line Items] | |||
Royalty Income, Nonoperating (in Dollars) | $ 0 | ||
Third-Party Payers And Health Maintenance Organizations [Member] | Minimum [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
BillingInformationFilingDeadlinePeriod | 60 days | ||
Third-Party Payers And Health Maintenance Organizations [Member] | Maximum [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
BillingInformationFilingDeadlinePeriod | 90 days | ||
Government Payer Medicare [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
BillingInformationFilingDeadlinePeriod | 60 days | ||
Patient self-pay [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
Billing Period | 210 days | ||
Receivable Collection Period | 180 days | ||
Products Revenue And Royalty Income [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
Claim Period For Return Of Goods | 30 days | ||
Royalty Income, Nonoperating (in Dollars) | $ 712,000 | $ 1,205,000 | |
Products Revenue And Royalty Income [Member] | Minimum [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
Receivable Collection Period | 30 days | ||
Products Revenue And Royalty Income [Member] | Maximum [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
Receivable Collection Period | 90 days | ||
Clinical Services [Member] | Revenue Benchmark [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
Concentration Risk, Percentage | 63.00% | 71.00% | 71.00% |
Clinical Services [Member] | Revenue Benchmark [Member] | Third-Party Payers And Health Maintenance Organizations [Member] | |||
Revenue Recognition (Details) [Line Items] | |||
Concentration Risk, Percentage | 36.00% | 39.00% | 39.00% |
Revenue Recognition (Details) -
Revenue Recognition (Details) - Schedule of net revenues and percentages by type of customer - Clinical Services [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Revenue Recognition (Details) - Schedule of net revenues and percentages by type of customer [Line Items] | |||
Revenue Services Net | $ 51,115 | $ 71,077 | $ 74,689 |
Revenue Services Net Percentage | 100.00% | 100.00% | 100.00% |
Third-Party Payer [Member] | |||
Revenue Recognition (Details) - Schedule of net revenues and percentages by type of customer [Line Items] | |||
Revenue Services Net | $ 26,653 | $ 41,370 | $ 43,059 |
Revenue Services Net Percentage | 52.00% | 58.00% | 58.00% |
Medicare [Member] | |||
Revenue Recognition (Details) - Schedule of net revenues and percentages by type of customer [Line Items] | |||
Revenue Services Net | $ 10,898 | $ 12,111 | $ 12,705 |
Revenue Services Net Percentage | 21.00% | 17.00% | 17.00% |
HMO’s [Member] | |||
Revenue Recognition (Details) - Schedule of net revenues and percentages by type of customer [Line Items] | |||
Revenue Services Net | $ 6,213 | $ 11,359 | $ 10,263 |
Revenue Services Net Percentage | 12.00% | 16.00% | 14.00% |
Patient self-pay [Member] | |||
Revenue Recognition (Details) - Schedule of net revenues and percentages by type of customer [Line Items] | |||
Revenue Services Net | $ 7,351 | $ 6,237 | $ 8,662 |
Revenue Services Net Percentage | 15.00% | 9.00% | 11.00% |
Revenue Recognition (Details)_2
Revenue Recognition (Details) - Schedule of product revenue by geography - Products [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Revenue Recognition (Details) - Schedule of product revenue by geography [Line Items] | |||
Product revenue | $ 30,055 | $ 29,224 | $ 29,192 |
UNITED STATES | |||
Revenue Recognition (Details) - Schedule of product revenue by geography [Line Items] | |||
Product revenue | 16,965 | 15,524 | 16,533 |
Europe [Member] | |||
Revenue Recognition (Details) - Schedule of product revenue by geography [Line Items] | |||
Product revenue | 5,922 | 6,326 | 5,659 |
Rest of world [Member] | |||
Revenue Recognition (Details) - Schedule of product revenue by geography [Line Items] | |||
Product revenue | $ 7,168 | $ 7,374 | $ 7,000 |
Supplemental disclosure for s_2
Supplemental disclosure for statement of cash flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | $ 138 | $ 76 | $ 119 |
Installment Loans Financed Amount | 0 | 0 | 69 |
Capital Lease Obligation Cost Basis | $ 381 | $ 0 | $ 0 |
Inventories (Details) - Schedul
Inventories (Details) - Schedule of inventory, current - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Schedule of inventory, current [Abstract] | ||
Raw materials | $ 876 | $ 754 |
Work in process | 2,566 | 2,174 |
Finished products | 4,400 | 4,350 |
$ 7,842 | $ 7,278 |
Property, plant, and equipmen_2
Property, plant, and equipment (Details) - Schedule of property, plant and equipment - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Schedule of property, plant and equipment [Abstract] | ||
Building and building improvements | $ 10,334 | $ 4,917 |
Machinery and equipment (includes assets under capital lease - see Note 9) | 8,538 | 7,570 |
Office furniture and computer equipment | 16,229 | 15,362 |
Leasehold improvements | 5,270 | 5,262 |
40,371 | 33,111 | |
Accumulated depreciation and amortization | (28,179) | (26,187) |
12,192 | 6,924 | |
Land and land improvements | 2,062 | 712 |
$ 14,254 | $ 7,636 |
Income taxes (Details)
Income taxes (Details) - USD ($) | 5 Months Ended | 7 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Income taxes (Details) [Line Items] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 21.00% | (21.00%) | 26.40% | 34.00% |
Tax Cut and Job Act 2017 Deferred Tax Assets Valuation Allowance | $ 0 | $ 11,500,000 | |||
Effective Income Tax Rate Reconciliation, Tax Credit, Amount | 0 | 1,100,000 | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (900,000) | 8,100,000 | |||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 59,100,000 | ||||
Deferred Tax Assets Research and Development and Other Tax Credit Carryforwards | $ 1,286,000 | 1,350,000 | $ 1,286,000 | ||
Deferred Tax Assets, Operating Loss Carryforwards | 2,700,000 | ||||
Foreign Loss Carryforwards | 15,400,000 | ||||
Liability for Uncertain Tax Position | 0 | ||||
U.S. Federal Tax [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Deferred Tax Assets Research and Development and Other Tax Credit Carryforwards | $ 1,300,000 | ||||
Maximum [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Operating Loss Carryforward Expiration Year End | 2038 | ||||
Maximum [Member] | Domestic Tax Authority [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Operating Loss Carryforwards Expiration Year | 2030 | ||||
Maximum [Member] | Research Tax Credit Carryforward [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Tax Credit Carryforward Expiration Year | 2039 | ||||
Minimum [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Operating Loss Carryforward Expiration Year Begining | 2037 | ||||
Minimum [Member] | Domestic Tax Authority [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Operating Loss Carryforwards Expiration Year | 2038 | ||||
Minimum [Member] | Research Tax Credit Carryforward [Member] | |||||
Income taxes (Details) [Line Items] | |||||
Tax Credit Carryforward Expiration Year | 2025 |
Income taxes (Details) - Benefi
Income taxes (Details) - Benefit (provision) for income taxes $ in Thousands | 12 Months Ended |
Jul. 31, 2018USD ($) | |
Benefit (provision) for income taxes [Abstract] | |
Federal | $ 1,097 |
Benefit for income taxes | $ 1,097 |
Income taxes (Details) - Compon
Income taxes (Details) - Components of deferred tax assets (liabilities) - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Deferred tax assets: | ||
Federal tax carryforward losses | $ 12,558 | $ 13,975 |
Provision for uncollectible accounts receivable | 1,116 | 791 |
State and local tax carry forward losses | 144 | 352 |
Accrued royalties | 101 | 102 |
Stock compensation | 769 | 575 |
Depreciation | 682 | 581 |
Research and development and other tax credit carryforwards | 1,350 | 1,286 |
Foreign tax carryforward losses | 3,783 | 2,771 |
Intangibles and goodwill | 1,479 | 1,811 |
Inventory | 1,086 | 1,786 |
Accrued expenses | 1,127 | 1,194 |
Other, net | 82 | 58 |
Deferred tax assets | 24,277 | 25,282 |
Prepaid expenses | (626) | (772) |
Other, net | (124) | (39) |
Deferred tax liabilities | (750) | (811) |
Net deferred tax assets before valuation allowance | 23,527 | 24,471 |
Less: valuation allowance | $ (23,527) | $ (24,471) |
Income taxes (Details) - Comp_2
Income taxes (Details) - Components of income (loss) before income taxes - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Income taxes (Details) - Components of income (loss) before income taxes [Line Items] | |||
Income (loss) before taxes | $ 2,489 | $ (11,418) | $ (2,504) |
Domestic Tax Authority [Member] | |||
Income taxes (Details) - Components of income (loss) before income taxes [Line Items] | |||
Income (loss) before taxes | 4,618 | (9,540) | (212) |
Foreign Tax Authority [Member] | |||
Income taxes (Details) - Components of income (loss) before income taxes [Line Items] | |||
Income (loss) before taxes | $ (2,129) | $ (1,878) | $ (2,292) |
Income taxes (Details) - Bene_2
Income taxes (Details) - Benefit (provision) for income taxes were at rates different from U.S. federal statutory rates | 5 Months Ended | 7 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Benefit (provision) for income taxes were at rates different from U.S. federal statutory rates [Abstract] | |||||
Federal statutory rate | 34.00% | 21.00% | (21.00%) | 26.40% | 34.00% |
Compensation and other expenses not deductible for income tax return purposes | (15.30%) | (1.00%) | (14.50%) | ||
Change in valuation allowance | 36.30% | 73.90% | 64.00% | ||
State tax law change | (81.10%) | ||||
Impact of Tax Act on valuation allowance | (100.10%) | ||||
AMT refund under Tax Act | 9.60% | ||||
Other | 0.80% | (2.40%) | |||
9.60% |
Loan Payable (Details)
Loan Payable (Details) - Mortgage Agreement [Member] - USD ($) | 1 Months Ended | 12 Months Ended |
Nov. 27, 2018 | Jul. 31, 2019 | |
Loan Payable (Details) [Line Items] | ||
Debt Instrument, Face Amount | $ 4,500,000 | |
Debt Instrument Maturity Period | 10 years | |
Debt Instrument, Interest Rate, Stated Percentage | 5.09% | |
Debt Instrument, Periodic Payment | $ 30,000 | |
Amortization of Debt Issuance Costs | $ 70,000 | |
Unamortized Debt Issuance Expense | $ 70,000 | |
Operating Leases, Future Minimum Payments Due | 4,400,000 | |
Cash Collateral for Borrowed Securities | $ 750 |
Loan Payable (Details) - Schedu
Loan Payable (Details) - Schedule of future annual principal payments - Citibank, N.A. [Member] - Mortgage Agreement [Member] $ in Thousands | Jul. 31, 2019USD ($) |
Debt Instrument [Line Items] | |
2020 | $ 136 |
2021 | 144 |
2022 | 152 |
2023 | 160 |
2024 | 167 |
Thereafter | 3,626 |
Total principal payments | 4,385 |
Less: current portion, included in other current liabilities | (136) |
Unamortized mortgage costs | (70) |
Loan payable - net | $ 4,179 |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) $ in Millions | Jul. 31, 2019 | Jul. 31, 2018 |
Payables and Accruals [Abstract] | ||
Self Insurance Reserve, Current | $ 0.2 | $ 0.3 |
Accrued Liabilities (Details) -
Accrued Liabilities (Details) - Schedule of Accrued liabilities - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Schedule of Accrued liabilities [Abstract] | ||
Payroll, benefits, and commissions | $ 5,123 | $ 4,870 |
Professional fees | 774 | 811 |
Legal | 164 | 2,121 |
Other | 2,301 | 2,252 |
Total | $ 8,362 | $ 10,054 |
Other liabilities (Details)
Other liabilities (Details) $ in Thousands | 12 Months Ended |
Jul. 31, 2019USD ($) | |
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation (in Dollars) | $ 1,042 |
Capital Lease Interest Rate Range Start | 2.99% |
Capital Lease Interest Rate Range End | 9.50% |
Other liabilities (Details) - S
Other liabilities (Details) - Schedule of other liabilities - USD ($) $ in Thousands | Jul. 31, 2019 | Jul. 31, 2018 |
Other liabilities (Details) - Schedule of other liabilities [Line Items] | ||
Other liabilities | $ 424 | $ 353 |
Capital Lease Obligations [Member] | ||
Other liabilities (Details) - Schedule of other liabilities [Line Items] | ||
Other liabilities | $ 424 | 351 |
Installment Loans [Member] | ||
Other liabilities (Details) - Schedule of other liabilities [Line Items] | ||
Other liabilities | $ 2 |
Other liabilities (Details) -_2
Other liabilities (Details) - Schedule of future minimum lease and loan payments $ in Thousands | Jul. 31, 2019USD ($) |
Schedule of future minimum lease and loan payments [Abstract] | |
2020 | $ 292 |
2020 | 2 |
2021 | 236 |
2022 | 79 |
2023 | 83 |
2024 | 26 |
Total payments | 716 |
Total payments | 2 |
Less: interest | (37) |
Total net of interest | 679 |
Total net of interest | 2 |
Less: current portion, included in other current liabilities | (255) |
Less: current portion, included in other current liabilities | (2) |
Other liabilities - net | $ 424 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 05, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | Dec. 31, 2014 | Jan. 14, 2011 |
Stockholders' Equity (Details) [Line Items] | ||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 | ||||
Percentage of Commission Payable on Equity Offering | 3.00% | |||||
Maximum Offering Price Under Sales Agreement | $ 20,000 | $ 20,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 238,230 | 635,624 | 141,876 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 159 | $ 743 | $ 10,530 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 955 | 1,723 | 14,510 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 117 | $ 6,014 | $ 1,388 | |||
Performance Shares [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Minimum [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 2 years | 2 years | |||
Maximum [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | 3 years | |||
2011 Plan [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share Based Compensation Arrangement by Share Based Payment Award Restricted Stock Units (in Shares) | 3,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in Shares) | 2,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 5,000,000 | 1,223,000 | ||||
2011 Plan [Member] | Restricted Stock And Restricted Stock Unit Awards [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 4 years | |||||
2011 Plan [Member] | Minimum [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||||
2011 Plan [Member] | Maximum [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||
Common Stock [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Authorized Common Stock that may be Issued and Sold Under Sales Agreement | $ 19,200 | |||||
Securities That May Be Sold Under The Agreement | $ 150,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 34,719 | 294,726 | 141,876 | |||
Treasury Stock, Shares, Acquired (in Shares) | 340,898 | |||||
Stock Issued During Period, Shares, Employee Benefit Plan (in Shares) | 315,472 | 37,580 | 91,541 | |||
Payments of Stock Issuance Costs | $ 832 | $ 782 | $ 724 | |||
Common Stock [Member] | Restricted Stock [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 4 | $ 24 | $ 44 | |||
Treasury Stock [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 340,898 | |||||
Treasury Stock, Shares, Acquired (in Shares) | 106,911 | |||||
Treasury Stock, Value | $ 1,014 | |||||
Stock Issued During Period, Shares, Employee Benefit Plan (in Shares) | (106,911) | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued (in Shares) | 106,911 | |||||
Directors And Officers [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 203,511 | |||||
Stock Issued During Period Shares Stock Options Exercised1 (in Shares) | 23,376 | |||||
Executive Officer [Member] | Performance Shares [Member] | ||||||
Stockholders' Equity (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 225 | $ 141 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - Schedule of stock option plans - $ / shares | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Schedule of stock option plans [Abstract] | |||
Outstanding at beginning of year (in Shares) | 1,882,116 | 2,132,995 | 1,813,875 |
Outstanding at beginning of year | $ 4.96 | $ 4.26 | $ 3.43 |
New Grants (in Shares) | 715,321 | 415,580 | 493,996 |
New Grants | $ 2.81 | $ 5.57 | $ 7.07 |
Exercised (in Shares) | (238,230) | (635,624) | (141,876) |
Exercised | $ 2.69 | $ 2.98 | $ 3.19 |
Expired (in Shares) | (8,167) | (30,835) | (33,000) |
Expired | $ 6.55 | $ 5.97 | $ 5.29 |
Outstanding at end of year (in Shares) | 2,351,040 | 1,882,116 | 2,132,995 |
Outstanding at end of year | $ 4.53 | $ 4.96 | $ 4.26 |
Exercisable at end of year (in Shares) | 1,342,564 | 1,149,489 | 1,388,475 |
Exercisable at end of year | $ 5.16 | $ 4.28 | $ 3.27 |
Weighted average fair value of options granted during year | $ 1.07 | $ 1.91 | $ 2.45 |
Stockholders' Equity (Details_2
Stockholders' Equity (Details) - Schedule of assumptions used to fair value options granted - $ / shares | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Stockholders' Equity (Details) - Schedule of assumptions used to fair value options granted [Line Items] | |||
Options Granted (in Shares) | 715,321 | 415,580 | 493,996 |
Exercise Price (in Dollars per share) | $ 2.81 | $ 5.57 | $ 7.07 |
Term (years) | 5 years | 5 years | 5 years |
FMV of options Granted/Per Share (in Dollars per share) | $ 1.07 | $ 1.91 | $ 2.45 |
Vested Shares at 7/31/2019 (in Shares) | 166,860 | 394,296 | |
Minimum [Member] | |||
Stockholders' Equity (Details) - Schedule of assumptions used to fair value options granted [Line Items] | |||
Exercise Price (in Dollars per share) | $ 2.80 | $ 4.42 | |
Vesting Period (years) | 2 years | 2 years | 2 years |
FMV of options Granted/Per Share (in Dollars per share) | $ 1.06 | $ 1.53 | $ 2.40 |
Expected Life (years) | 3 years 3 months | 3 years 3 months | 3 years 3 months |
Expected Volatility | 48.06% | 42.59% | 45.85% |
Interest Rate | 2.47% | 2.07% | 1.48% |
Maximum [Member] | |||
Stockholders' Equity (Details) - Schedule of assumptions used to fair value options granted [Line Items] | |||
Exercise Price (in Dollars per share) | $ 3.21 | $ 8.36 | |
Vesting Period (years) | 3 years | 3 years | 3 years |
FMV of options Granted/Per Share (in Dollars per share) | $ 1.23 | $ 2.76 | $ 2.48 |
Expected Life (years) | 3 years 6 months | 3 years 6 months | 3 years 6 months |
Expected Volatility | 50.56% | 46.14% | 46.28% |
Interest Rate | 2.96% | 2.79% | 1.54% |
Stockholders' Equity (Details_3
Stockholders' Equity (Details) - Schedule of stock options outstanding - $ / shares | 12 Months Ended | |||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | Jul. 31, 2016 | |
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items] | ||||
Shares (in Shares) | 2,351,040 | 1,882,116 | 2,132,995 | 1,813,875 |
Weighted-Average Exercise Price | $ 4.53 | $ 4.96 | $ 4.26 | $ 3.43 |
Exercise Price Range 1 [Member] | ||||
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items] | ||||
Range of Exercise prices | $ 2.80 | |||
Shares (in Shares) | 1,266,592 | |||
Range of Exercise prices | $ 4.35 | |||
Weighted-Average Remaining Contractual Life in Years | 1 year 211 days | |||
Weighted-Average Exercise Price | $ 3.25 | |||
Exercise Price Range 2 [Member] | ||||
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items] | ||||
Range of Exercise prices | $ 4.42 | |||
Shares (in Shares) | 968,868 | |||
Range of Exercise prices | $ 7.07 | |||
Weighted-Average Remaining Contractual Life in Years | 1 year 36 days | |||
Weighted-Average Exercise Price | $ 5.75 | |||
Exercise Price Range 3 [Member] | ||||
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items] | ||||
Range of Exercise prices | $ 8.25 | |||
Shares (in Shares) | 115,580 | |||
Range of Exercise prices | $ 8.36 | |||
Weighted-Average Remaining Contractual Life in Years | 62 days | |||
Weighted-Average Exercise Price | $ 8.36 |
Stockholders' Equity (Details_4
Stockholders' Equity (Details) - Schedule of restricted stock awards - $ / shares | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Schedule of restricted stock awards [Abstract] | |||
Outstanding at beginning of year (in Shares) | 2,613 | 7,436 | 8,501 |
Outstanding at beginning of year | $ 1.74 | $ 4.45 | $ 4.13 |
Awarded | $ 6.95 | ||
Awarded (in Shares) | 4,250 | ||
Vested (in Shares) | (986) | (2,874) | (5,140) |
Vested | $ (6.71) | $ (5.20) | $ (4.10) |
Forfeited (in Shares) | (1,949) | (175) | |
Forfeited | $ (5.18) | $ (2.14) | |
Outstanding (non-vested) at end of year (in Shares) | 1,627 | 2,613 | 7,436 |
Outstanding (non-vested) at end of year | $ 5.14 | $ 1.74 | $ 4.45 |
Weighted average market value of awards granted during year | $ 6.95 |
Stockholders' Equity (Details_5
Stockholders' Equity (Details) - Shedule of performance stock units activity - Executive Officer [Member] - Performance Shares [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Jul. 31, 2019 | Jul. 31, 2018 | |
Stockholders' Equity (Details) - Shedule of performance stock units activity [Line Items] | ||
Total Grant | 80,500 | 32,000 |
Fair Market Value At Grant Date | $ 225 | $ 141 |
Employee benefit plan (Details)
Employee benefit plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Employee benefit plan (Details) [Line Items] | |||
Employer Matched Contributions Percentage Of The Employees Contribution | 50.00% | 50.00% | 50.00% |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 10.00% | 10.00% | 10.00% |
Share Based 401k Employer Match Expense (in Dollars) | $ 855 | $ 829 | $ 724 |
Defined Benefit Plan, Contribution in Accrued Liabilities (in Dollars) | $ 475 | $ 493 | $ 412 |
Defined Contribution Plan Minimum Annual Contribution Percent | 13.00% | ||
Minimum Age of Employee for Saving Contribution | 25 years | ||
Defined Benefit Plan Minimum Annual Investment Return Percentage | 1.00% | ||
Defined Contribution Pension Plan Expiration Date | Dec. 31, 2019 | ||
Swiss Employees [Member] | |||
Employee benefit plan (Details) [Line Items] | |||
Employer Matched Contributions Percentage Of The Employees Contribution | 50.00% |
Employee benefit plan (Detail_2
Employee benefit plan (Details) - Schedule of substantially funded - USD ($) $ in Thousands | Jul. 31, 2019 | Dec. 31, 2018 | Jul. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of substantially funded [Abstract] | |||||
Total Assets | $ 106,640 | $ 2,064 | $ 101,660 | $ 1,849 | $ 2,184 |
Accumulated Benefit Obligation | $ 2,308 | $ 2,094 | $ 2,432 | ||
Funded status | 90.00% | 88.00% | 90.00% |
Employee benefit plan (Detail_3
Employee benefit plan (Details) - Schedule of contrubutions plan - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2018 | Jul. 31, 2017 | Jul. 31, 2016 | |
Schedule of contrubutions plan [Abstract] | |||
Contributions | $ 208 | $ 205 | $ 224 |
Royalty and other income (Detai
Royalty and other income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Royalty and License Fees [Member] | Life Sciences [Member] | |||
Royalty and other income (Details) [Line Items] | |||
Revenues | $ 0 | $ 712 | $ 1,205 |
Commitments (Details)
Commitments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |||
Description Of Operating Leases | The Company leases equipment and office and laboratory space underseveral non-cancellable operating leases that expire through June 2028. Certain leases include renewal options and rent escalationclauses. An entity owned by certain executive officers/directors of the Company owns the building that the Company leases as itsmain facility for clinical laboratory operations and certain research operations. In addition to the minimum annual rentals ofspace, the lease is subject to annual increases, based on the consumer price index. Annual increases are limited to 3% per year | ||
Maximum Annual Rental Increase Percentage | 3.00% | ||
Rent expense Including Real Estate Taxes | $ 1,849 | $ 1,798 | $ 1,752 |
Operating Leases, Rent Expense | 4,873 | $ 4,398 | $ 4,658 |
Operating Leases, Rent Expense, Sublease Rentals | $ 134 | ||
Agreement Renew Period | 2 years | ||
Other Commitment, Due in Next Twelve Months | $ 2,498 |
Commitments (Details) - Schedul
Commitments (Details) - Schedule of future minimum rental payments for operating leases $ in Thousands | Jul. 31, 2019USD ($) |
Schedule of future minimum rental payments for operating leases [Abstract] | |
2020 | $ 9,457 |
2021 | 5,878 |
2022 | 4,299 |
2023 | 3,401 |
2024 | 3,107 |
Thereafter | 9,679 |
Operating leases, net | $ 35,821 |
Contingencies (Details)
Contingencies (Details) $ in Thousands | Feb. 05, 2019USD ($) | Apr. 30, 2019USD ($) | Jul. 31, 2019USD ($) |
Contingencies (Details) [Line Items] | |||
Number of Pending Cases | 3 | ||
Gain (Loss) Related to Litigation Settlement | $ 19,400 | $ 28,925 | |
Roche [Member] | |||
Contingencies (Details) [Line Items] | |||
Litigation Settlement, Amount Awarded from Other Party | $ 21,000 | ||
Hologic inc [Member] | |||
Contingencies (Details) [Line Items] | |||
Litigation Settlement, Amount Awarded from Other Party | $ 14,000 | ||
Gain (Loss) Related to Litigation Settlement | $ 9,500 |
Segment reporting (Details)
Segment reporting (Details) | 12 Months Ended |
Jul. 31, 2019 | |
Segment Reporting [Abstract] | |
Number of Reportable Segments | 3 |
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 100.00% |
Segment reporting (Details) - S
Segment reporting (Details) - Schedule of segment reporting information, by segment - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Clinical Labs [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | $ 51,115 | $ 71,077 | $ 74,689 |
Cost of revenues | 44,226 | 46,008 | 45,400 |
Research and development | 31 | ||
Selling, general and administrative | 24,230 | 24,656 | 24,465 |
Legal fee expense | 159 | 67 | 146 |
Total operating costs, expenses and legal settlements, net | 68,646 | 70,731 | 70,011 |
Operating income (loss) | (17,531) | 346 | 4,678 |
Other income (expense) Interest | (64) | (91) | (112) |
Other | 16 | 29 | 137 |
Income (loss) before taxes | (17,579) | 284 | 4,703 |
Depreciation and amortization included above | 1,625 | 1,667 | 1,586 |
Capital expenditures | 1,374 | 1,685 | 1,363 |
Clinical Labs [Member] | Selling, General and Administrative Expenses [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 147 | 125 | 111 |
Clinical Labs [Member] | Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 147 | 125 | 117 |
Clinical Labs [Member] | Cost of Clinical Laboratory Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 6 | ||
Life Sciences [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 30,055 | 29,936 | 30,397 |
Cost of revenues | 13,696 | 14,377 | 14,078 |
Research and development | 2,257 | 2,305 | 2,311 |
Selling, general and administrative | 11,860 | 11,617 | 11,289 |
Legal fee expense | 27 | 58 | 79 |
Legal settlements, net | (28,925) | ||
Total operating costs, expenses and legal settlements, net | (1,085) | 28,357 | 27,757 |
Operating income (loss) | 31,140 | 1,579 | 2,640 |
Other income (expense) Interest | 67 | 50 | 46 |
Other | 2 | 11 | (60) |
Foreign exchange loss (gain) | (682) | (275) | 135 |
Income (loss) before taxes | 30,527 | 1,365 | 2,761 |
Depreciation and amortization included above | 1,221 | 1,387 | 1,913 |
Capital expenditures | 605 | 203 | 390 |
Life Sciences [Member] | Selling, General and Administrative Expenses [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 95 | 79 | 74 |
Life Sciences [Member] | Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 95 | 79 | 74 |
Consolidated [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 81,170 | 101,013 | 105,086 |
Cost of revenues | 57,922 | 60,385 | 59,478 |
Research and development | 3,175 | 3,210 | 2,928 |
Selling, general and administrative | 44,265 | 44,455 | 44,149 |
Legal fee expense | 3,000 | 5,127 | 1,679 |
Legal settlements, net | (28,925) | ||
Total operating costs, expenses and legal settlements, net | 79,437 | 113,177 | 108,234 |
Operating income (loss) | 1,733 | (12,164) | (3,148) |
Other income (expense) Interest | 1,056 | 853 | 384 |
Other | 382 | 168 | 125 |
Foreign exchange loss (gain) | (682) | (275) | 135 |
Income (loss) before taxes | 2,489 | (11,418) | (2,504) |
Depreciation and amortization included above | 3,036 | 3,130 | 3,598 |
Capital expenditures | 8,126 | 1,888 | 1,753 |
Consolidated [Member] | Selling, General and Administrative Expenses [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 939 | 813 | 825 |
Consolidated [Member] | Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 939 | 813 | 831 |
Consolidated [Member] | Cost of Clinical Laboratory Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 6 | ||
Therapeutics [Member] | |||
Segment Reporting Information [Line Items] | |||
Research and development | 887 | 905 | 617 |
Total operating costs, expenses and legal settlements, net | 887 | 905 | 617 |
Operating income (loss) | (887) | (905) | (617) |
Income (loss) before taxes | (887) | (905) | (617) |
Other Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Selling, general and administrative | 8,175 | 8,182 | 8,395 |
Legal fee expense | 2,814 | 5,002 | 1,454 |
Total operating costs, expenses and legal settlements, net | 10,989 | 13,184 | 9,849 |
Operating income (loss) | (10,989) | (13,184) | (9,849) |
Other income (expense) Interest | 1,053 | 894 | 450 |
Other | 364 | 128 | 48 |
Income (loss) before taxes | (9,572) | (12,162) | (9,351) |
Depreciation and amortization included above | 190 | 76 | 99 |
Capital expenditures | 6,147 | ||
Other Segments [Member] | Selling, General and Administrative Expenses [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | 697 | 609 | 640 |
Other Segments [Member] | Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Share-based compensation | $ 697 | $ 609 | $ 640 |
Segment reporting (Details) - G
Segment reporting (Details) - Geographic financial information - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | $ 81,170 | $ 101,013 | $ 105,086 |
Long-lived assets | 22,593 | 16,974 | |
UNITED STATES | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 72,387 | 91,688 | 96,751 |
Long-lived assets | 22,057 | 16,210 | |
SWITZERLAND | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 2,611 | 2,584 | 2,371 |
Long-lived assets | 376 | 502 | |
UNITED KINGDOM | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 1,611 | 1,851 | 1,673 |
Long-lived assets | 64 | 127 | |
Other International Countries [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 4,561 | 4,890 | $ 4,291 |
Long-lived assets | $ 96 | $ 135 |
Segment reporting (Details) -_2
Segment reporting (Details) - Schedule of segment revenue by geographical - Life Sciences [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Segment reporting (Details) - Schedule of segment revenue by geographical [Line Items] | |||
Revenues | $ 30,055 | $ 29,936 | $ 30,397 |
UNITED STATES | |||
Segment reporting (Details) - Schedule of segment revenue by geographical [Line Items] | |||
Revenues | 21,272 | 20,610 | 22,062 |
Foreign Countries [Member] | |||
Segment reporting (Details) - Schedule of segment revenue by geographical [Line Items] | |||
Revenues | $ 8,783 | $ 9,326 | $ 8,335 |
Summary of Selected Quarterly_3
Summary of Selected Quarterly Financial Data (unaudited) (Details) - Quarterly Financial Data - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Quarterly Financial Data [Abstract] | |||||||||||
Total revenues | $ 20,921 | $ 19,662 | $ 19,327 | $ 21,260 | $ 24,455 | $ 25,630 | $ 26,952 | $ 27,676 | |||
Gross profit | 6,346 | 5,302 | 4,579 | 7,021 | 9,665 | 11,073 | 11,345 | 12,245 | |||
Income (loss) before income taxes | (5,390) | 22,265 | (8,408) | (5,978) | (5,758) | (3,016) | (1,998) | (640) | |||
Net income (loss) | $ (5,390) | $ 22,265 | $ (8,408) | $ (5,978) | $ (5,758) | $ (3,016) | $ (901) | $ (640) | $ 2,489 | $ (10,321) | $ (2,504) |
Basic and diluted income (loss) per common share (in Dollars per share) | $ (0.11) | $ 0.47 | $ (0.18) | $ (0.13) | $ (0.11) | $ (0.06) | $ (0.02) | $ (0.01) |
SCHEDULE II VALUATION AND QUA_2
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - Schedule of Valuation and Qualifying Accounts - USD ($) $ in Thousands | 12 Months Ended | |||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | ||
Allowance for Doubtful Accounts [Member] | ||||
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - Schedule of Valuation and Qualifying Accounts [Line Items] | ||||
Balance at Beginning of Year | $ 145 | $ 147 | $ 102 | |
Charged (credited) to costs and expenses | 42 | 57 | ||
Deductions | [1] | 21 | 2 | 12 |
Balance at end of Year | 166 | 145 | 147 | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | ||||
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - Schedule of Valuation and Qualifying Accounts [Line Items] | ||||
Balance at Beginning of Year | 24,471 | 32,581 | 34,912 | |
Charged (credited) to costs and expenses | (944) | (8,110) | (2,331) | |
Balance at end of Year | $ 23,527 | $ 24,471 | $ 32,581 | |
[1] | Write-off of uncollectible accounts receivable. |