As of July 31, 2024, Arax Holdings Corp. reported total assets of $7.6 million, reflecting an increase from $7.1 million as of October 31, 2023. However, total current assets saw a significant decline, decreasing to $767.8 thousand from $1.7 million during the same period. In contrast, total current liabilities increased to $506.9 thousand from $358.1 thousand, indicating a tightening of the company's liquidity position. Total stockholders' equity rose to $7.1 million, up from $6.8 million as of the previous fiscal period.

In terms of revenue, Arax Holdings experienced a notable downturn. For the three months ended July 31, 2024, the company reported no revenue, a decrease from $228.5 thousand for the same period in 2023. For the nine months ended July 31, 2024, revenue totaled $528.6 thousand, down from $682.3 thousand in the prior year. This decline in revenue is indicative of challenges faced by the company in maintaining its sales performance.

Operating expenses for the three months ended July 31, 2024, surged to $1.3 million, compared to $329.8 thousand for the same period in 2023. This increase in expenses contributed to a net loss of $905.9 thousand for the three months ended July 31, 2024, compared to a net loss of $433.3 thousand for the same period in 2023. For the nine months ended July 31, 2024, the net loss was $5.1 million, significantly higher than the $2.3 million loss reported in the same period in 2023.

Net cash used in operating activities for the nine months ended July 31, 2024, was $470.0 thousand, a decrease from $3.7 million for the same period in 2023, suggesting improved cash management despite ongoing losses. Additionally, capitalized software and development costs for the nine months ended July 31, 2024, amounted to $1.4 million.

As of July 31, 2024, the company had cash and cash equivalents of $12.2 thousand, a decrease from previous periods, highlighting ongoing liquidity challenges.