0001528396-24-000057 | 10-Q | XBRL Viewer

Print Document

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Apr. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies (Details Textual)	Apr. 30, 2024 USD ($) customer	Jul. 31, 2023 USD ($) customer
Commitments and Contingencies Disclosure [Abstract]
Reimbursement \| $	$ 0	$ 0
Claims outstanding \| customer	0	0

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases (Lease Cost) (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Leases [Abstract]
Operating lease cost	$ 3,137	$ 1,724	$ 9,414	$ 9,524
Variable lease cost	615	1,157	1,679	3,617
Sublease income	0	(206)	0	(898)
Net operating lease cost	3,752	2,675	11,093	12,243
Lease expense for leases with initial term of 12 months or less	$ 200	$ 200	$ 700	$ 700

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (22,862)	$ (124,075)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	16,525	19,911
Amortization of debt issuance costs	1,296	1,274
Amortization of contract costs	12,869	13,000
Stock-based compensation	109,174	106,294
Changes to allowance for credit losses and revenue reserves	(142)	(304)
Deferred income tax	(29,294)	(31,034)
Amortization of premium (accretion of discount) on available-for-sale securities, net	(9,492)	(2,458)
Gain on sale of strategic investment	(1,758)	0
Changes in fair value of strategic investments	(298)	0
Accelerated depreciation related to lease assignment	0	26,921
Gain from lease assignment	0	(18,419)
Other non-cash items affecting net income (loss)	(74)	(315)
Changes in operating assets and liabilities:
Accounts receivable	46,276	14,756
Unbilled accounts receivable	(33,955)	(57,278)
Prepaid expenses and other assets	(22,082)	(12,718)
Operating lease assets	6,106	(11,348)
Accounts payable	(10,538)	(6,725)
Accrued employee compensation	(25,604)	(18,392)
Deferred revenue	(28,012)	(29,360)
Lease liabilities	(5,136)	953
Other liabilities	(1,028)	(5,525)
Net cash provided by (used in) operating activities	1,971	(134,842)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale securities	(453,441)	(358,823)
Maturities and sales of available-for-sale securities	416,299	382,219
Purchases of property and equipment	(4,668)	(2,614)
Capitalized software development costs	(9,429)	(8,877)
Acquisition of strategic investments	(336)	(8,051)
Sale of strategic investment	6,508	0
Net cash provided by (used in) investing activities	(45,067)	3,854
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock upon exercise of stock options	14	227
Repurchase and retirement of common stock	0	(213,993)
Net cash provided by (used in) financing activities	14	(213,766)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(2,915)	1,659
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(45,997)	(343,095)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period	406,790	614,686
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period	360,793	271,591
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	5,000	5,000
Cash paid for income taxes, net of tax refunds	6,173	4,417
Accruals for purchase of property and equipment	638	2,748
Accruals for capitalized software development costs	712	804
Accrual for shares repurchased	$ 0	$ 2

Stock-Based Compensation Expense and Shareholders' Equity

9 Months Ended

Apr. 30, 2024

Stockholders' Equity and Stock-based Compensation [Abstract]

Stock-Based Compensation Expense and Shareholders' Equity

Stock-Based Compensation Expense and Shareholders’ Equity

Stock-Based Compensation Expense

Stock-based compensation expense related to stock options and Stock Awards is included in the Company’s condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Stock-based compensation expense	$	36,809	$	35,284	$	109,411	$	106,829
Net impact of deferred stock-based compensation	(159)		(265)		(237)		(535)
Total stock-based compensation expense, net	$	36,650	$	35,019	$	109,174	$	106,294
Stock-based compensation expense is included in the following categories:
Cost of subscription and support revenue	$	3,113	$	3,580	$	9,989	$	10,488
Cost of license revenue	72		93		220		359
Cost of services revenue	4,722		4,631		14,154		14,377
Research and development	10,003		10,084		30,127		29,676
Sales and marketing	9,354		7,432		25,273		22,343
General and administrative	9,386		9,199		29,411		29,051
Total stock-based compensation expense	$	36,650	$	35,019	$	109,174	$	106,294

Total unrecognized stock-based compensation expense related to the Company’s stock options and Stock Awards as of April 30, 2024 is as follows:


	Unrecognized Expense (in thousands)		Weighted Average Expected Recognition Period (in years)
Stock Options	$	740	0.3
Stock Awards	274,132		2.4
Total unrecognized stock-based compensation expense	$	274,872

Stock Awards

A summary of Stock Awards activity under the Company’s equity incentive plans is as follows:


	Stock Awards Outstanding
	Number of Stock Awards Outstanding	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)(1)
Balance as of July 31, 2023	3,414,706	$	85.68	$	289,635
Granted	1,606,142	$	92.84
Released	(1,221,287)	$	91.73	$	121,796
Canceled	(236,873)	$	89.25
Balance as of April 30, 2024	3,562,688	$	86.59	$	393,321
Expected to vest as of April 30, 2024	3,562,688	$	86.59	$	393,321

(1) Aggregate intrinsic value at each period end represents the total market value of Stock Awards at the Company’s closing stock price of $110.40 and $84.82 on April 30, 2024 and July 31, 2023, respectively. Aggregate intrinsic value for released Stock Awards represents the total market value of released Stock Awards at date of release.

In September 2023, certain executive officers were granted Stock Awards that vest in September 2026, subject to continued service until such time, with the opportunity to increase the number of vested awards based on Company financial performance and, for a select number of awards, the market performance of the Company’s common stock. The fair value of the awards will be recognized over the performance period and may increase or decrease depending on the estimated attainment of Company financial performance criteria. The Company determined the fair value of the portion of the award subject to the market performance of the Company’s common stock using a Monte Carlo simulation model, which included the following assumptions:

Performance Period

September 13, 2023 to September 13, 2026

3-year Historical Volatility

35.0%

3-year Risk Free Rate

4.5%

For the portion of the award subject to the market performance of the Company’s common stock, stock-based compensation expense is recognized over the requisite service period regardless of whether or not the market condition is ultimately satisfied, subject to continued service over the period.

Prior to fiscal year 2024, certain executives and employees of the Company received PSUs, which will vest over three years with 50% vesting annually over the three year period and the remaining 50% vesting at the end of the third year.

The Company recognized stock-based compensation related to PSUs of $4.6 million and $3.6 million during the three months ended April 30, 2024 and 2023, respectively, and $11.7 million and $10.8 million during the nine months ended April 30, 2024 and 2023, respectively.

Stock Options

A summary of stock option activity under the Company’s equity incentive plans is as follows:


	Stock Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value(1)
				(in years)	(in thousands)
Balance as of July 31, 2023	187,572	$	65.90	8.8	$	3,549
Granted	—	$	—
Exercised	(1,115)	$	12.44		$	110
Canceled	(5,217)	$	68.39
Balance as of April 30, 2024	181,240	$	66.16	8.1	$	8,019
Vested and expected to vest as of April 30, 2024	181,240	$	66.16	8.1	$	8,019
Exercisable as of April 30, 2024	7,109	$	11.52	2.8	$	703

(1) Aggregate intrinsic value at each period end represents the difference between the Company’s closing stock price of $110.40 and $84.82 on April 30, 2024 and July 31, 2023, respectively, and the exercise price of outstanding options. Aggregate intrinsic value for exercised options represents the difference between the Company’s stock price at date of exercise and the exercise price.

Share Repurchase Program

In September 2022, the Company’s board of directors authorized and approved a share repurchase program of up to $400.0 million of the Company’s outstanding common stock. Share repurchases under the program may be made from time to time, in the open market, in privately negotiated transactions and otherwise, at the discretion of management of the Company and in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act, and other applicable legal requirements. Such repurchases may also be made in compliance with Rule 10b5-1 trading plans entered into by the Company.

During the three and nine months ended April 30, 2024, the Company did not repurchase any shares of common stock.

In the first quarter of fiscal year 2023, the Company entered into an accelerated share repurchase (“ASR”) agreement with a large financial institution whereupon the Company provided them with a prepayment of $200.0 million and received an initial delivery of 2,581,478 shares of the Company’s common stock. During the three months ended April 30, 2023, the ASR was settled in full with the delivery of an additional 648,001 shares of common stock which resulted in total repurchases under the ASR of 3,229,479 shares of common stock at an average purchase price of $61.93 per share. During the nine months ended April 30, 2023, the Company repurchased 3,436,670 shares of common stock at an average price of $62.85 per share.

As of April 30, 2024, $138.2 million remained available for future share repurchases.

Fair Value of Financial Instruments (Details 1) - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 858,432	$ 844,437
Unrealized Gains	148	69
Unrealized Losses	(1,233)	(3,408)
Estimated Fair Value	857,347	841,098
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	163,686	150,254
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	163,686	150,254
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	254,954	200,691
Unrealized Gains	122	41
Unrealized Losses	(532)	(1,590)
Estimated Fair Value	254,544	199,142
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	56,540	34,395
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	56,540	34,395
U.S. Government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	74,609	87,064
Unrealized Gains	0	1
Unrealized Losses	(481)	(1,230)
Estimated Fair Value	74,128	85,835
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	235,149	229,721
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	235,149	229,721
U.S. Government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	21,660	84,180
Unrealized Gains	0	9
Unrealized Losses	(49)	(151)
Estimated Fair Value	21,611	84,038
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	43,481	43,573
Unrealized Gains	26	18
Unrealized Losses	(123)	(234)
Estimated Fair Value	43,384	43,357
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	8,353	14,559
Unrealized Gains	0	0
Unrealized Losses	(48)	(203)
Estimated Fair Value	$ 8,305	$ 14,356

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 359,600	$ 401,813
Short-term investments	422,691	396,872
Accounts receivable, net of allowances of $63 and $218, respectively	104,344	151,034
Unbilled accounts receivable, net	125,531	87,752
Prepaid expenses and other current assets	69,345	62,132
Total current assets	1,081,511	1,099,603
Long-term investments	151,891	128,782
Unbilled accounts receivable, net	7,288	11,112
Property and equipment, net	55,025	54,499
Operating lease assets	46,267	52,373
Intangible assets, net	10,372	14,473
Goodwill	372,214	372,214
Deferred tax assets, net	255,547	226,875
Other assets	59,910	67,957
TOTAL ASSETS	2,040,025	2,027,888
CURRENT LIABILITIES:
Accounts payable	23,514	34,627
Accrued employee compensation	76,538	103,980
Deferred revenue, net	181,689	206,923
Convertible senior notes, net	398,467	0
Other current liabilities	24,599	27,731
Total current liabilities	704,807	373,261
Lease liabilities	37,120	42,972
Convertible senior notes, net	0	397,171
Deferred revenue, net	3,210	5,988
Other liabilities	9,522	9,030
Total liabilities	754,659	828,422
STOCKHOLDERS’ EQUITY:
Common stock	8	8
Additional paid-in capital	1,940,691	1,831,267
Accumulated other comprehensive income (loss)	(14,521)	(13,859)
Retained earnings (accumulated deficit)	(640,812)	(617,950)
Total stockholders’ equity	1,285,366	1,199,466
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,040,025	$ 2,027,888

Net Income (Loss) Per Share (Tables)

9 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

Company's basic and diluted earnings per share

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share for the three and nine months ended April 30, 2024 and 2023 (in thousands, except share and per share amounts):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Numerator:
Net income (loss)	$	(5,478)	$	(45,568)	$	(22,862)	$	(124,075)
Net income (loss) per share:


Basic and diluted	$	(0.07)	$	(0.56)	$	(0.28)	$	(1.51)
Denominator:
Weighted average shares used in computing net income (loss) per share:





Basic and diluted	82,500,109		81,832,244		82,105,357		82,407,950

Schedule of Antidilutive Securities excluded from EPS

The following weighted average shares of potential common stock were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been anti-dilutive:


	Three Months Ended		Nine Months Ended
	April 30,		April 30,
	2024	2023	2024	2023
Stock options	181,646	40,041	184,000	13,243
Stock awards	3,764,735	2,547,035	3,846,177	2,082,196
Convertible senior notes	3,550,532	3,516,480	3,516,480	3,516,480

Leases (Textual) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Leases (Textual) (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2024	Apr. 30, 2023	Jul. 31, 2023
Lessee, Lease, Description [Line Items]
Expenses related to lease assignment	$ (200)	$ 0	$ 18,419
De-recognition of operating lease asset	56,900	56,900
Gain from de-recognition of operating lease asset		18,400
De-recognition of lease liability	75,500	75,500
Operating lease assets	46,267	46,267		$ 52,373
Total lease liability balance	46,269	46,269		$ 51,405
New Worldwide Headquarters
Lessee, Lease, Description [Line Items]
Depreciation	26,900	26,900
General and Administrative Expense [Member]
Lessee, Lease, Description [Line Items]
Expenses related to lease assignment	$ (8,500)	$ (8,500)

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (5,478)	$ (45,568)	$ (22,862)	$ (124,075)
Foreign currency translation adjustments	(1,238)	(356)	(2,383)	1,828
Unrealized gain (loss) on available-for-sale securities	(1,016)	1,851	2,830	4,516
Tax benefit (expense) on unrealized gain (loss) on available-for-sale securities	262	(421)	(533)	(920)
Reclassification adjustment for realized gain (loss) included in net income (loss)	(95)	(89)	(576)	(655)
Total other comprehensive income (loss)	(2,087)	985	(662)	4,769
Comprehensive income (loss)	$ (7,565)	$ (44,583)	$ (23,524)	$ (119,306)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

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

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482739/220-10-55-15

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

+ Details

Leases (Supplemental Lease Information) (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
Assets and Liabilities, Lessee [Abstract]
Operating lease assets	$ 46,267	$ 52,373
Current portion of lease liabilities	9,149	8,433
Non-current portion of lease liabilities	37,120	42,972
Total lease liabilities	$ 46,269	$ 51,405
Weighted average remaining lease term (years)	5 years 6 months 7 days	6 years 2 months 1 day
Weighted average discount rate	4.03%	3.92%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities

Revenue (Tables)

9 Months Ended

Apr. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue by service or product type is as follows (in thousands):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Subscription and support
Subscription	$	120,430	$	89,091	$	343,152	$	254,083
Support	17,540		18,408		54,087		58,238
License
Term license	55,005		50,556		160,017		164,512
Perpetual license	1,205		46		1,301		157
Services	46,498		49,389		130,425		158,393
Total revenue	$	240,678	$	207,490	$	688,982	$	635,383

Revenue by service or product type and by geography is as follows (in thousands):


	Three Months Ended April 30, 2024
	Subscription and support		License		Services		Total

United States	$	94,089	$	36,016	$	33,286	$	163,391
Canada	19,583		2,859		1,837		24,279
Other Americas	1,484		855		452		2,791
Total Americas	115,156		39,730		35,575		190,461


Total EMEA	15,139		10,556		8,850		34,545
Total APAC	7,675		5,924		2,073		15,672
Total revenue	$	137,970	$	56,210	$	46,498	$	240,678


	Three Months Ended April 30, 2023
	Subscription and support		License		Services		Total

United States	$	71,764	$	33,528	$	33,100	$	138,392
Canada	18,176		1,932		4,341		24,449
Other Americas	1,441		439		892		2,772
Total Americas	91,381		35,899		38,333		165,613


Total EMEA	10,319		8,351		7,727		26,397
Total APAC	5,799		6,352		3,329		15,480
Total revenue	$	107,499	$	50,602	$	49,389	$	207,490




	Nine Months Ended April 30, 2024
	Subscription and support		License		Services		Total

United States	$	271,015	$	85,522	$	90,853	$	447,390
Canada	56,362		10,662		5,970		72,994
Other Americas	4,469		1,357		1,373		7,199
Total Americas	331,846		97,541		98,196		527,583


Total EMEA	43,104		37,511		25,551		106,166
Total APAC	22,289		26,266		6,678		55,233
Total revenue	$	397,239	$	161,318	$	130,425	$	688,982

Contract with Customer, Asset and Liability

Amounts related to customer contract-related arrangements are included on the condensed consolidated balance sheets as follows (in thousands):


	April 30, 2024		July 31, 2023
Unbilled accounts receivable, net	$	132,819	$	98,864
Contract costs, net	$	44,537	$	47,254
Deferred revenue, net	$	184,899	$	212,911

Fair Value of Financial Instruments (Details 3) - USD ($)	Apr. 30, 2024	Jul. 31, 2023	Mar. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 282,765,000	$ 315,444,000
Total short-term investments	422,691,000	396,872,000
Total long-term investments	151,891,000	128,782,000
Total	857,347,000	841,098,000
Strategic investment, noncurrent, quarter to date	300,000
Senior Notes \| Convertible Senior Notes, 1.250%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	445,400,000	388,200,000
Aggregate principal amount			$ 400,000,000
Stated interest rate			1.25%
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	235,149,000	229,721,000
Total short-term investments	0	0
Total long-term investments	0	0
Total	235,149,000	229,721,000
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	47,616,000	85,723,000
Total short-term investments	422,691,000	396,872,000
Total long-term investments	151,891,000	128,782,000
Total	622,198,000	611,377,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total short-term investments	0	0
Total long-term investments	0	0
Total	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,624,000	61,296,000
Commercial paper \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,624,000	61,296,000
Commercial paper \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		15,949,000
Certificates of deposit \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		0
Certificates of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		15,949,000
Certificates of deposit \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	235,149,000	229,721,000
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	235,149,000	229,721,000
Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
U.S. Government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		8,478,000
U.S. Government agency securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		0
U.S. Government agency securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		8,478,000
U.S. Government agency securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	119,062,000	88,958,000
Commercial paper \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	119,062,000	88,958,000
Commercial paper \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	2,992,000
Total short-term investments	154,897,000	156,396,000
Total long-term investments	96,655,000	42,746,000
Corporate bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0
Total short-term investments	0	0
Total long-term investments	0	0
Corporate bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	2,992,000
Total short-term investments	154,897,000	156,396,000
Total long-term investments	96,655,000	42,746,000
Corporate bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0
Total short-term investments	0	0
Total long-term investments	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	56,540,000	34,395,000
Certificates of deposit \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Certificates of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	56,540,000	34,395,000
Certificates of deposit \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
U.S. Government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	58,899,000	34,600,000
Total long-term investments	15,229,000	35,286,000
U.S. Government bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	0	0
U.S. Government bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	58,899,000	34,600,000
Total long-term investments	15,229,000	35,286,000
U.S. Government bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	0	0
U.S. Government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	20,737,000	69,101,000
Total long-term investments	874,000	6,459,000
U.S. Government agency securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments		0
Total long-term investments	0	0
U.S. Government agency securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	20,737,000	69,101,000
Total long-term investments	874,000	6,459,000
U.S. Government agency securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	0	0
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	6,070,000	2,705,000
Total long-term investments	37,314,000	40,652,000
Asset-backed securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	0	0
Asset-backed securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	6,070,000	2,705,000
Total long-term investments	37,314,000	40,652,000
Asset-backed securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	0	0
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	6,486,000	10,717,000
Total long-term investments	1,819,000	3,639,000
Foreign government bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	0	0
Foreign government bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	6,486,000	10,717,000
Total long-term investments	1,819,000	3,639,000
Foreign government bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Total long-term investments	$ 0	$ 0

Leases (Future Operating Lease Payments) (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024 (remainder of fiscal year)	$ 2,228
2025	11,476
2026	11,094
2027	10,003
2028	4,081
2029	3,907
Thereafter	8,394
Total future lease payments	51,183
Less imputed interest	(4,914)
Total lease liability balance	$ 46,269	$ 51,405

Leases

9 Months Ended

Apr. 30, 2024

Leases [Abstract]

Leases

The Company's lease obligations consist of operating leases for office facilities and equipment, with lease periods expiring through fiscal year 2032. Some leases include one or more options to renew. Lease renewals are not assumed in the determination of the lease term until the exercise of the renewal option is deemed to be reasonably certain.

In February 2023, the Company assigned (the “Lease Assignment”) the remaining lease term of its previous headquarters and concurrently entered into a sublease for office space in San Mateo, California with the same third party for its current worldwide headquarters. As a result of the Lease Assignment, the Company recognized an $8.5 million loss in general and administrative operating expenses during the three and nine months ended April 30, 2023 on the condensed consolidated statements of operations. The loss is comprised of an $18.4 million gain from the de-recognition of the operating lease asset of $56.9 million, the de-recognition of the lease liability of $75.5 million, and other expenses related to the Lease Assignment of $0.2 million, offset by accelerated depreciation expense related to property and equipment, primarily consisting of leasehold improvements, at the previous headquarters of $26.9 million.

Components of operating lease costs were as follows (in thousands):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating lease cost1	$	3,137	$	1,724	$	9,414	$	9,524
Variable lease cost	615		1,157		1,679		3,617
Sublease income	—		(206)		—		(898)
Net operating lease cost	$	3,752	$	2,675	$	11,093	$	12,243

(1) Lease expense for leases with an initial term of 12 months or less is excluded from the table above and was $0.2 million and $0.2 million for the three months ended April 30, 2024 and 2023, respectively, and $0.7 million and $0.7 million for the nine months ended April 30, 2024 and 2023, respectively.

Future operating lease payments as of April 30, 2024 were as follows (in thousands):


Fiscal Year Ending July 31,
2024 (remainder of fiscal year)	$	2,228
2025	11,476
2026	11,094
2027	10,003
2028	4,081
2029	3,907
Thereafter	8,394
Total future lease payments	51,183
Less imputed interest	(4,914)
Total lease liability balance	$	46,269

Supplemental information related to leases was as follows (in thousands, except for lease term and discount rate):


	April 30, 2024			July 31, 2023
Operating lease assets	$	46,267		$	52,373

Current portion of lease liabilities	$	9,149		$	8,433
Non-current portion of lease liabilities	37,120			42,972
Total lease liabilities	$	46,269		$	51,405

Weighted average remaining lease term (years)	5.52			6.17
Weighted average discount rate	4.03		%	3.92		%

Supplemental cash and non-cash information related to operating leases was as follows (in thousands):


	Nine Months Ended
	April 30,
		2024		2023
Cash payments for operating leases		$	8,684	$	10,797
Operating lease assets obtained in exchange for lease liabilities		$	2,621	$	(46,781)

Net Income (Loss) Per Share (Details 2) - shares	3 Months Ended		9 Months Ended
Net Income (Loss) Per Share (Details 2) - shares	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Diluted (in shares)	82,500,109	81,832,244	82,105,357	82,407,950
Basic (in shares)	82,500,109	81,832,244	82,105,357	82,407,950
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS (in shares)	181,646		184,000	40,041	13,243
Stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS (in shares)	3,764,735		3,846,177	2,547,035	2,082,196
Convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS (in shares)	3,550,532		3,516,480	3,516,480	3,516,480

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Revenue:
Total revenue	$ 240,678	$ 207,490	$ 688,982	$ 635,383
Cost of revenue:
Total cost of revenue	98,451	108,572	292,057	340,850
Gross profit:
Total gross profit	142,227	98,918	396,925	294,533
Operating expenses:
Research and development	66,134	63,055	194,061	182,927
Sales and marketing	50,487	46,864	144,249	138,113
General and administrative	42,302	46,815	121,502	129,078
Total operating expenses	158,923	156,734	459,812	450,118
Income (loss) from operations	(16,696)	(57,816)	(62,887)	(155,585)
Interest income	10,824	6,627	31,727	16,657
Interest expense	(1,686)	(1,683)	(5,061)	(5,034)
Other income (expense), net	(6,535)	(3,356)	(9,501)	(5,889)
Income (loss) before provision for (benefit from) income taxes	(14,093)	(56,228)	(45,722)	(149,851)
Provision for (benefit from) income taxes	(8,615)	(10,660)	(22,860)	(25,776)
Net income (loss)	$ (5,478)	$ (45,568)	$ (22,862)	$ (124,075)
Net income (loss) per share:
Basic (in dollars per share)	$ (0.07)	$ (0.56)	$ (0.28)	$ (1.51)
Diluted (in dollars per share)	$ (0.07)	$ (0.56)	$ (0.28)	$ (1.51)
Shares used in computing net income (loss) per share:
Basic (in shares)	82,500,109	81,832,244	82,105,357	82,407,950
Diluted (in shares)	82,500,109	81,832,244	82,105,357	82,407,950
Subscription and support
Revenue:
Total revenue	$ 137,970	$ 107,499	$ 397,239	$ 312,321
Cost of revenue:
Total cost of revenue	51,185	52,281	149,173	156,896
Gross profit:
Total gross profit	86,785	55,218	248,066	155,425
License
Revenue:
Total revenue	56,210	50,602	161,318	164,669
Cost of revenue:
Total cost of revenue	837	1,243	3,539	4,961
Gross profit:
Total gross profit	55,373	49,359	157,779	159,708
Services
Revenue:
Total revenue	46,498	49,389	130,425	158,393
Cost of revenue:
Total cost of revenue	46,429	55,048	139,345	178,993
Gross profit:
Total gross profit	$ 69	$ (5,659)	$ (8,920)	$ (20,600)

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 63	$ 218

Revenue (Contract with Customer) (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
Revenue from Contract with Customer [Abstract]
Unbilled accounts receivable, net	$ 132,819	$ 98,864
Contract costs, net	44,537	47,254
Deferred revenue, net	$ 184,899	$ 212,911

Net Income (Loss) Per Share (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Apr. 30, 2024	Jan. 31, 2024	Oct. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Oct. 31, 2022	Apr. 30, 2024	Apr. 30, 2023
Numerator:
Net income (loss)	$ (5,478)	$ 9,687	$ (27,071)	$ (45,568)	$ (9,189)	$ (69,318)	$ (22,862)	$ (124,075)
Net income (loss) per share:
Basic (in dollars per share)	$ (0.07)			$ (0.56)			$ (0.28)	$ (1.51)
Diluted (in dollars per share)	$ (0.07)			$ (0.56)			$ (0.28)	$ (1.51)
Weighted average shares used in computing net income (loss) per share:
Basic (in shares)	82,500,109			81,832,244			82,105,357	82,407,950
Diluted (in shares)	82,500,109			81,832,244			82,105,357	82,407,950

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Stock-Based Compensation Expense and Shareholders' Equity (Details 2) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2024	Apr. 30, 2024	Jul. 31, 2023
Weighted Average Grant Date Fair Value
Share price (in dollars per share)		$ 110.40	$ 84.82
Weighted Average Exercise Price
Granted (in dollars per share)	$ 0
Canceled (in dollars per share)		$ 68.39
Stock awards
Number of Stock Awards Outstanding
Balance at beginning of period (in shares)	3,414,706	3,414,706
Granted (in shares)		1,606,142
Released (in shares)		(1,221,287)
Canceled (in shares)		(236,873)
Balance at end of period (in shares)		3,562,688	3,414,706
Expected to vest (in shares)		3,562,688
Weighted Average Grant Date Fair Value
Balance at beginning of period (in dollars per share)	$ 85.68	$ 85.68
Granted (in dollars per share)		92.84
Released (in dollars per share)		91.73
Canceled (in dollars per share)		89.25
Balance at end of period (in dollars per share)		86.59	$ 85.68
Expected to vest (in dollars per share)		$ 86.59
Aggregate intrinsic value, Nonvested		$ 393,321	$ 289,635
Aggregate intrinsic value, released		121,796
Aggregate intrinsic value, Expected to vest		$ 393,321
Stock options
Number of Stock Options Outstanding
Balance at beginning of period (in shares)	187,572	187,572
Granted (in shares)	0
Exercised (in shares)	(1,115)
Canceled (in shares)	(5,217)
Balance at end of period (in shares)		181,240	187,572
Vested and expected to vest (in shares)		181,240
Exercisable (in shares)		7,109
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)	$ 65.90	$ 65.90
Exercised (in dollars per share)	$ 12.44
Balance at end of period (in dollars per share)		66.16	$ 65.90
Vested and expected to vest (in dollars per share)		66.16
Exercisable (in dollars per share)		$ 11.52
Weighted Average Remaining Contractual Life
Outstanding, weighted average remaining contractual life		8 years 1 month 6 days	8 years 9 months 18 days
Vested and expected to vest, weighted average remaining contractual life		8 years 1 month 6 days
Exercisable, weighted average remaining contractual life		2 years 9 months 18 days
Aggregate Intrinsic Value
Aggregate intrinsic value		$ 8,019	$ 3,549
Exercised	$ 110
Vested and expected to vest		8,019
Exercisable		$ 703

Fair Value of Financial Instruments (Details 4) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Jul. 31, 2023
Fair Value Disclosures [Abstract]
Strategic investment, noncurrent, quarter to date	$ 300
Changes in fair value of strategic investments	298	$ 0
Equity consideration	12,100
Cash paid	6,500
Gain (Loss) In Excess Of Cost	1,800
Limited Partners' Capital Account	5,600
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments using the measurement alternative	17,740		$ 27,772
Fair Value Measured at Net Asset Value Per Share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment using net asset value	$ 5,916		$ 0

Fair Value of Financial Instruments

9 Months Ended

Apr. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Available-for-sale investments within cash equivalents and investments consist of the following (in thousands):


	April 30, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Asset-backed securities	$	43,481	$	26	$	(123)	$	43,384
Certificates of deposit	56,540		—		—		56,540
Commercial paper	163,686		—		—		163,686
Corporate bonds	254,954		122		(532)		254,544
Foreign government bonds	8,353		—		(48)		8,305
Money market funds	235,149		—		—		235,149
U.S. Government agency securities	21,660		—		(49)		21,611
U.S. Government bonds	74,609		—		(481)		74,128


Total	$	858,432	$	148	$	(1,233)	$	857,347


	July 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Asset-backed securities	$	43,573	$	18	$	(234)	$	43,357
Certificates of deposit	34,395		—		—		34,395
Commercial paper	150,254		—		—		150,254
Corporate bonds	200,691		41		(1,590)		199,142
Foreign government bonds	14,559		—		(203)		14,356
Money market funds	229,721		—		—		229,721
U.S. Government agency securities	84,180		9		(151)		84,038
U.S. Government bonds	87,064		1		(1,230)		85,835

Total	$	844,437	$	69	$	(3,408)	$	841,098

The Company does not consider any portion of the unrealized losses at April 30, 2024 to be credit losses. The Company has recorded the securities at fair value in its condensed consolidated balance sheets, with unrealized gains and losses reported as a component of accumulated other comprehensive income (loss). The amount of unrealized gains and losses reclassified into earnings is based on the specific identification of the securities sold. The realized gains and losses from sales of securities are presented as a component of other income (expense) in the condensed consolidated statements of comprehensive income (loss).

The following table summarizes the contractual maturities of the Company’s available-for-sale investments measured at fair value (in thousands):


	April 30, 2024
	Less Than 12 Months		12 Months or Greater		Total
Asset-backed securities	$	6,070	$	37,314	$	43,384
Certificates of deposit	56,540		—		56,540
Commercial paper	163,686		—		163,686
Corporate bonds	157,889		96,655		254,544
Foreign government bonds	6,486		1,819		8,305
Money market funds	235,149		—		235,149
U.S. Government agency securities	20,737		874		21,611
U.S. Government bonds	58,899		15,229		74,128


Total	$	705,456	$	151,891	$	857,347

Fair Value Measurement

Available-for-sale investments

The following tables summarize the Company’s available-for-sale investments measured at fair value, by level within the fair value hierarchy (in thousands):


	April 30, 2024
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Commercial paper	$	—	$	44,624	$	—	$	44,624
Corporate bonds	$	—	$	2,992	$	—	$	2,992
Money market funds	235,149		—		—		235,149


Total cash equivalents	235,149		47,616		—		282,765
Short-term investments:
Asset-backed securities	—		6,070		—		6,070
Certificates of deposit	—		56,540		—		56,540
Commercial paper	—		119,062		—		119,062
Corporate bonds	—		154,897		—		154,897
Foreign government bonds	—		6,486		—		6,486
U.S. Government agency securities			20,737		—		20,737
U.S. Government bonds	—		58,899		—		58,899

Total short-term investments	—		422,691		—		422,691
Long-term investments:
Asset-backed securities	—		37,314		—		37,314
Corporate bonds	—		96,655		—		96,655
Foreign government bonds	—		1,819		—		1,819
U.S. Government agency securities	—		874		—		874
U.S. Government bonds	—		15,229		—		15,229

Total long-term investments	—		151,891		—		151,891
Total	$	235,149	$	622,198	$	—	$	857,347


	July 31, 2023
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Commercial paper	$	—	$	61,296	$	—	$	61,296
Money market funds	229,721		—		—		229,721
U.S. Government agency securities	—		8,478		—		8,478
U.S. Government bonds	—		15,949		—		15,949
Total cash equivalents	229,721		85,723		—		315,444
Short-term investments:
Asset-backed securities	—		2,705		—		2,705
Certificates of deposit	—		34,395		—		34,395
Commercial paper	—		88,958		—		88,958
Corporate bonds	—		156,396		—		156,396
Foreign government bonds	—		10,717		—		10,717
U.S. Government agency securities	—		69,101		—		69,101
U.S. Government bonds	—		34,600		—		34,600

Total short-term investments	—		396,872		—		396,872
Long-term investments:
Asset-backed securities	—		40,652		—		40,652
Corporate bonds	—		42,746		—		42,746
Foreign government bonds	—		3,639		—		3,639
U.S. Government agency securities	—		6,459		—		6,459
U.S. Government bonds	—		35,286		—		35,286
Total long-term investments	—		128,782		—		128,782
Total	$	229,721	$	611,377	$	—	$	841,098

Convertible Senior Notes

In March 2018, the Company issued $400.0 million aggregate principal amount of 1.25% Convertible Senior Notes due 2025 (the “Convertible Senior Notes”). The fair value of the Convertible Senior Notes was $445.4 million and $388.2 million at April 30, 2024 and July 31, 2023, respectively. The Company estimates the fair value of the Convertible Senior Notes using commonly accepted valuation methodologies and market-based risk measurements that are directly observable, such as unadjusted quoted prices in markets that are not active (Level 2).

Strategic Investments

The Company’s other assets include strategic investments in privately held companies in which the Company does not have a controlling interest or the ability to exert significant influence. The strategic investments consist of non-marketable equity securities that do not have readily determinable market values (Level 3), which are recorded using the measurement alternative at cost less impairment and adjusts cost for subsequent observable changes in fair value, and an investment in a limited partnership, which is recorded using the net asset value practical expedient (Level 3) in accordance with ASC 820. Changes in fair value are recorded in other income (expense) on the condensed consolidated statements of operations.

During the nine months ended April 30, 2024, the Company invested $0.3 million in new and existing strategic investments.

During the nine months ended April 30, 2024, one of the Company’s investees was acquired by a privately held limited partnership. As a result, the Company received $12.1 million in consideration for its equity interest in the investee, composed of $6.5 million cash and $5.6 million of an ownership interest in the privately held limited partnership, and recognized a $1.8 million gain in excess of cost as a component of other income (expense), net in the condensed consolidated statements of operations.

The following table summarizes the carrying amount of the Company’s strategic investments (in thousands):


	April 30, 2024		July 31, 2023
Equity investments using the measurement alternative	$	17,740	$	27,772
Equity investment using net asset value	$	5,916	$	—

No impairment charge or unrealized gain or loss related to strategic investments using the measurement alternative was recognized during the three and nine months ended April 30, 2024 and 2023. The Company recognized an unrealized gain of $0.3 million related to strategic investments using net asset value during the three and nine months ended April 30, 2024.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	9 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company	Company Guidewire Software, Inc., a Delaware corporation, was incorporated on September 20, 2001. Guidewire Software, Inc., together with its subsidiaries (the “Company”), provides a technology platform and suite of products that combine core operations, digital engagement, analytics, and machine learning and artificial intelligence (“AI”) applications. The Company’s technology platform and suite of products support core insurance operations, including underwriting, policy administration, claim management, and billing; insights into data that can improve business decision making; and digital sales, service, and claims experiences for policyholders, agents, and other key stakeholders. The Company’s customers are primarily property and casualty insurance carriers. The term “products” generally refers to both subscription services and term license software offerings.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The Company’s condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The condensed consolidated financial statements and notes include the Company and its wholly owned subsidiaries and reflect all adjustments (all of which are normal and recurring in nature) that, in the opinion of management, are necessary for a fair presentation of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. Certain information and disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted under the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and related notes, together with management’s discussion and analysis of financial condition and results of operations, presented in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2023.
Use of Estimates	Use of Estimates In preparing the condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, the Company must make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ materially from these estimates.
Restricted Cash	Restricted Cash Unearned acquisition consideration holdback subject to service conditions is held in escrow and considered restricted cash. As of April 30, 2024 and July 31, 2023, restricted cash in the amount of $1.2 million and $2.9 million, respectively, was included in prepaid expenses and other current assets. As of July 31, 2023, $2.1 million was included in other assets in the consolidated balance sheet.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, investments, accounts receivable, and unbilled accounts receivable. The Company maintains its cash, cash equivalents, and investments with high-quality financial institutions. The Company is exposed to credit risk for cash held in financial institutions in the event of a default to the extent that such amounts recorded in the condensed consolidated balance sheets are in excess of amounts that are insured by the Federal Deposit Insurance Corporation.
Recent Accounting Pronouncements Not Yet Adopted; Other Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU No. 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The new standard will be effective and the Company will adopt it for the annual period beginning August 1, 2024, and for the interim periods beginning after August 1, 2025 with early adoption permitted. The adoption of this ASU will impact the Company’s disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The new standard will be effective and the Company will adopt it beginning August 1, 2025 and early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently assessing the impact of adopting this standard on the consolidated financial statements. Other recent accounting pronouncements that will be applicable to the Company are not expected to have a material impact on its present or future financial statements.

Leases (Tables)

9 Months Ended

Apr. 30, 2024

Leases [Abstract]

Components of Lease Cost

Components of operating lease costs were as follows (in thousands):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating lease cost1	$	3,137	$	1,724	$	9,414	$	9,524
Variable lease cost	615		1,157		1,679		3,617
Sublease income	—		(206)		—		(898)
Net operating lease cost	$	3,752	$	2,675	$	11,093	$	12,243

Supplemental information related to leases was as follows (in thousands, except for lease term and discount rate):


	April 30, 2024			July 31, 2023
Operating lease assets	$	46,267		$	52,373

Current portion of lease liabilities	$	9,149		$	8,433
Non-current portion of lease liabilities	37,120			42,972
Total lease liabilities	$	46,269		$	51,405

Weighted average remaining lease term (years)	5.52			6.17
Weighted average discount rate	4.03		%	3.92		%

Supplemental cash and non-cash information related to operating leases was as follows (in thousands):


	Nine Months Ended
	April 30,
		2024		2023
Cash payments for operating leases		$	8,684	$	10,797
Operating lease assets obtained in exchange for lease liabilities		$	2,621	$	(46,781)

Future Operating Lease Payments

Future operating lease payments as of April 30, 2024 were as follows (in thousands):


Fiscal Year Ending July 31,
2024 (remainder of fiscal year)	$	2,228
2025	11,476
2026	11,094
2027	10,003
2028	4,081
2029	3,907
Thereafter	8,394
Total future lease payments	51,183
Less imputed interest	(4,914)
Total lease liability balance	$	46,269

Stock-Based Compensation Expense and Shareholders' Equity (Details 3)	9 Months Ended
	Apr. 30, 2024
Stockholders' Equity and Stock-based Compensation [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	35.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4.50%

The Company and Summary of Significant Accounting Policies and Estimates (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2024	Jul. 31, 2023
Customer One \| Accounts Receivable \| Customer Concentration Risk
Finite-Lived Intangible Assets [Line Items]
Concentration risk, percentage	10.00%
Prepaid Expenses and Other Current Assets
Finite-Lived Intangible Assets [Line Items]
Acquisition consideration holdback	$ 1.2	$ 2.9
Other Assets
Finite-Lived Intangible Assets [Line Items]
Acquisition consideration holdback		$ 2.1

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Adoption of Accounting Standards Update ("ASU") 2020-06	Common stock	Additional paid-in capital	Additional paid-in capital Adoption of Accounting Standards Update ("ASU") 2020-06	Accumulated other comprehensive income (loss)	Retained earnings (accumulated deficit)	Retained earnings (accumulated deficit) Adoption of Accounting Standards Update ("ASU") 2020-06
Beginning balance (in shares) at Jul. 31, 2022			84,084,209
Beginning balance at Jul. 31, 2022	$ 1,451,657		$ 8	$ 1,755,476		$ (19,845)	$ (283,982)
Net income (loss)	(69,318)						(69,318)
Issuance of common stock upon vesting of RSUs (in shares)			373,380
Stock-based compensation	35,249			35,249
Repurchase and retirement of common stock (in shares)			(2,581,478)
Repurchase and retirement of common stock	(200,000)			(40,000)			(160,000)
Foreign currency translation adjustment	(2,701)					(2,701)
Unrealized gain (loss) on available-for-sale securities, net of tax	(1,201)					(1,201)
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(216)					(216)
Ending balance (in shares) at Oct. 31, 2022			81,876,111
Ending balance at Oct. 31, 2022	1,185,161	$ (28,309)	$ 8	1,682,722	$ (68,003)	(23,963)	(473,606)	$ 39,694
Beginning balance (in shares) at Jul. 31, 2022			84,084,209
Beginning balance at Jul. 31, 2022	1,451,657		$ 8	1,755,476		(19,845)	(283,982)
Net income (loss)	(124,075)
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(655)
Ending balance (in shares) at Apr. 30, 2023			81,711,311
Ending balance at Apr. 30, 2023	1,195,107		$ 8	1,794,531		(15,076)	(584,356)
Beginning balance (in shares) at Oct. 31, 2022			81,876,111
Beginning balance at Oct. 31, 2022	1,185,161	$ (28,309)	$ 8	1,682,722	$ (68,003)	(23,963)	(473,606)	$ 39,694
Net income (loss)	(9,189)						(9,189)
Issuance of common stock upon exercise of stock options (in shares)			217
Issuance of common stock upon exercise of stock options	2			2
Issuance of common stock upon vesting of RSUs (in shares)			336,440
Stock-based compensation	36,296			36,296
Foreign currency translation adjustment	4,885					4,885
Unrealized gain (loss) on available-for-sale securities, net of tax	3,367					3,367
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(350)					(350)
Ending balance (in shares) at Jan. 31, 2023			82,212,768
Ending balance at Jan. 31, 2023	1,220,172		$ 8	1,719,020		(16,061)	(482,795)
Net income (loss)	(45,568)						(45,568)
Issuance of common stock upon exercise of stock options (in shares)			6,365
Issuance of common stock upon exercise of stock options	225			225
Issuance of common stock upon vesting of RSUs (in shares)			347,370
Stock-based compensation	35,286			35,286
Repurchase and retirement of common stock (in shares)			(855,192)
Repurchase and retirement of common stock	(15,993)						(55,993)
Foreign currency translation adjustment	(356)					(356)
Unrealized gain (loss) on available-for-sale securities, net of tax	1,430					1,430
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(89)					(89)
Ending balance (in shares) at Apr. 30, 2023			81,711,311
Ending balance at Apr. 30, 2023	1,195,107		$ 8	1,794,531		(15,076)	(584,356)
Beginning balance (in shares) at Jul. 31, 2023			81,440,669
Beginning balance at Jul. 31, 2023	1,199,466		$ 8	1,831,267		(13,859)	(617,950)
Net income (loss)	(27,071)						(27,071)
Issuance of common stock upon exercise of stock options (in shares)			42
Issuance of common stock upon exercise of stock options	1			1
Issuance of common stock upon vesting of RSUs (in shares)			489,783
Stock-based compensation	36,199			36,199
Foreign currency translation adjustment	(3,507)					(3,507)
Unrealized gain (loss) on available-for-sale securities, net of tax	851					851
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(290)					(290)
Ending balance (in shares) at Oct. 31, 2023			81,930,494
Ending balance at Oct. 31, 2023	1,205,649		$ 8	1,867,467		(16,805)	(645,021)
Beginning balance (in shares) at Jul. 31, 2023			81,440,669
Beginning balance at Jul. 31, 2023	1,199,466		$ 8	1,831,267		(13,859)	(617,950)
Ending balance (in shares) at Jan. 31, 2024			82,322,110
Ending balance at Jan. 31, 2024	1,256,113		$ 8	1,903,873		(12,434)	(635,334)
Beginning balance (in shares) at Jul. 31, 2023			81,440,669
Beginning balance at Jul. 31, 2023	1,199,466		$ 8	1,831,267		(13,859)	(617,950)
Net income (loss)	(22,862)
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(576)
Ending balance (in shares) at Apr. 30, 2024			82,663,071
Ending balance at Apr. 30, 2024	$ 1,285,366		$ 8	1,940,691		(14,521)	(640,812)
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06 [Member]
Beginning balance (in shares) at Oct. 31, 2023			81,930,494
Beginning balance at Oct. 31, 2023	$ 1,205,649		$ 8	1,867,467		(16,805)	(645,021)
Net income (loss)	9,687						9,687
Issuance of common stock upon exercise of stock options (in shares)			327
Issuance of common stock upon exercise of stock options	3			3
Issuance of common stock upon vesting of RSUs (in shares)			391,289
Stock-based compensation	36,403			36,403
Foreign currency translation adjustment	2,362					2,362
Unrealized gain (loss) on available-for-sale securities, net of tax	2,200					2,200
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(191)					(191)
Ending balance (in shares) at Jan. 31, 2024			82,322,110
Ending balance at Jan. 31, 2024	1,256,113		$ 8	1,903,873		(12,434)	(635,334)
Net income (loss)	(5,478)						(5,478)
Issuance of common stock upon exercise of stock options (in shares)			746
Issuance of common stock upon exercise of stock options	9			9
Issuance of common stock upon vesting of RSUs (in shares)			340,215
Stock-based compensation	36,809			36,809
Repurchase and retirement of common stock (in shares)			0
Repurchase and retirement of common stock	0			0			0
Foreign currency translation adjustment	(1,238)					(1,238)
Unrealized gain (loss) on available-for-sale securities, net of tax	(754)					(754)
Reclassification adjustment for realized gain (loss) on available-for-sale securities, included in net income (loss)	(95)					(95)
Ending balance (in shares) at Apr. 30, 2024			82,663,071
Ending balance at Apr. 30, 2024	$ 1,285,366		$ 8	$ 1,940,691		$ (14,521)	$ (640,812)

Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Jul. 31, 2023
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts	$ 0		$ 0		$ 0
Contract costs, current	15,500,000		15,500,000		15,900,000
Contract costs, noncurrent	29,000,000		29,000,000		$ 31,300,000
Amortization of contract costs	4,100,000	$ 4,400,000	12,869,000	$ 13,000,000
Contract with customer, liability, revenue recognized	33,000,000		184,800,000
Remaining performance obligation, amount	$ 1,600,000,000		$ 1,600,000,000

The Company and Summary of Significant Accounting Policies and Estimates	9 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Summary of Significant Accounting Policies and Estimates	The Company and Summary of Significant Accounting Policies and Estimates Company Guidewire Software, Inc., a Delaware corporation, was incorporated on September 20, 2001. Guidewire Software, Inc., together with its subsidiaries (the “Company”), provides a technology platform and suite of products that combine core operations, digital engagement, analytics, and machine learning and artificial intelligence (“AI”) applications. The Company’s technology platform and suite of products support core insurance operations, including underwriting, policy administration, claim management, and billing; insights into data that can improve business decision making; and digital sales, service, and claims experiences for policyholders, agents, and other key stakeholders. The Company’s customers are primarily property and casualty insurance carriers. The term “products” generally refers to both subscription services and term license software offerings. Basis of Presentation and Consolidation The Company’s condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The condensed consolidated financial statements and notes include the Company and its wholly owned subsidiaries and reflect all adjustments (all of which are normal and recurring in nature) that, in the opinion of management, are necessary for a fair presentation of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. Certain information and disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted under the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and related notes, together with management’s discussion and analysis of financial condition and results of operations, presented in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2023. Use of Estimates In preparing the condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, the Company must make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ materially from these estimates. Significant Accounting Policies There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the fiscal year ended July 31, 2023, except for those disclosed herein. Restricted Cash Unearned acquisition consideration holdback subject to service conditions is held in escrow and considered restricted cash. As of April 30, 2024 and July 31, 2023, restricted cash in the amount of $1.2 million and $2.9 million, respectively, was included in prepaid expenses and other current assets. As of July 31, 2023, $2.1 million was included in other assets in the consolidated balance sheet. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, investments, accounts receivable, and unbilled accounts receivable. The Company maintains its cash, cash equivalents, and investments with high-quality financial institutions. The Company is exposed to credit risk for cash held in financial institutions in the event of a default to the extent that such amounts recorded in the condensed consolidated balance sheets are in excess of amounts that are insured by the Federal Deposit Insurance Corporation. No customer accounted for 10% or more of the Company's revenue in the three and nine months ended April 30, 2024. One customer accounted for 10% or more of the Company’s revenue in the three months ended April 30, 2023, and no customer accounted for 10% or more of the Company’s revenue in the nine months ended April 30, 2023. No customer accounted for 10% or more of the Company's accounts receivable as of April 30, 2024 and July 31, 2023. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU No. 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The new standard will be effective and the Company will adopt it for the annual period beginning August 1, 2024, and for the interim periods beginning after August 1, 2025 with early adoption permitted. The adoption of this ASU will impact the Company’s disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The new standard will be effective and the Company will adopt it beginning August 1, 2025 and early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company is currently assessing the impact of adopting this standard on the consolidated financial statements. Other recent accounting pronouncements that will be applicable to the Company are not expected to have a material impact on its present or future financial statements.

Revenue

9 Months Ended

Apr. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

Revenue by service or product type is as follows (in thousands):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Subscription and support
Subscription	$	120,430	$	89,091	$	343,152	$	254,083
Support	17,540		18,408		54,087		58,238
License
Term license	55,005		50,556		160,017		164,512
Perpetual license	1,205		46		1,301		157
Services	46,498		49,389		130,425		158,393
Total revenue	$	240,678	$	207,490	$	688,982	$	635,383

Revenue by service or product type and by geography is as follows (in thousands):


	Three Months Ended April 30, 2024
	Subscription and support		License		Services		Total

United States	$	94,089	$	36,016	$	33,286	$	163,391
Canada	19,583		2,859		1,837		24,279
Other Americas	1,484		855		452		2,791
Total Americas	115,156		39,730		35,575		190,461


Total EMEA	15,139		10,556		8,850		34,545
Total APAC	7,675		5,924		2,073		15,672
Total revenue	$	137,970	$	56,210	$	46,498	$	240,678


	Three Months Ended April 30, 2023
	Subscription and support		License		Services		Total

United States	$	71,764	$	33,528	$	33,100	$	138,392
Canada	18,176		1,932		4,341		24,449
Other Americas	1,441		439		892		2,772
Total Americas	91,381		35,899		38,333		165,613


Total EMEA	10,319		8,351		7,727		26,397
Total APAC	5,799		6,352		3,329		15,480
Total revenue	$	107,499	$	50,602	$	49,389	$	207,490




	Nine Months Ended April 30, 2024
	Subscription and support		License		Services		Total

United States	$	271,015	$	85,522	$	90,853	$	447,390
Canada	56,362		10,662		5,970		72,994
Other Americas	4,469		1,357		1,373		7,199
Total Americas	331,846		97,541		98,196		527,583


Total EMEA	43,104		37,511		25,551		106,166
Total APAC	22,289		26,266		6,678		55,233
Total revenue	$	397,239	$	161,318	$	130,425	$	688,982




	Nine Months Ended April 30, 2023
	Subscription and support		License		Services		Total

United States	$	210,189	$	90,458	$	107,925	$	408,572
Canada	51,763		11,537		14,818		78,118
Other Americas	4,397		1,291		1,997		7,685
Total Americas	266,349		103,286		124,740		494,375


Total EMEA	28,959		34,484		25,885		89,328
Total APAC	17,013		26,899		7,768		51,680
Total revenue	$	312,321	$	164,669	$	158,393	$	635,383

No country, other than those presented above, accounted for more than 10% of total revenue during the three and nine months ended April 30, 2024 and 2023.

Customer Contract – Related Balance Sheet Amounts

Amounts related to customer contract-related arrangements are included on the condensed consolidated balance sheets as follows (in thousands):


	April 30, 2024		July 31, 2023
Unbilled accounts receivable, net	$	132,819	$	98,864
Contract costs, net	$	44,537	$	47,254
Deferred revenue, net	$	184,899	$	212,911

As of April 30, 2024 and July 31, 2023, there was no allowance for credit losses associated with unbilled accounts receivable.

Contract costs

The current portion of contract costs of $15.5 million and $15.9 million is included in prepaid and other current assets in the Company’s condensed consolidated balance sheets as of April 30, 2024 and July 31, 2023, respectively. The non-current portion of contract costs of $29.0 million and $31.3 million is included in other assets in the Company’s condensed consolidated balance sheets as of April 30, 2024 and July 31, 2023, respectively. The Company amortized $4.1 million and $4.4 million of contract costs during the three months ended April 30, 2024 and 2023, respectively, and amortized $12.9 million and $13.0 million during the nine months ended April 30, 2024 and 2023, respectively.

Deferred revenue

During the three and nine months ended April 30, 2024, the Company recognized revenue of approximately $33.0 million and $184.8 million, respectively, related to the Company’s deferred revenue balance reported as of July 31, 2023.

Remaining Performance Obligations

The aggregate amount of consideration allocated to remaining performance obligations either not satisfied or partially satisfied was approximately $1.6 billion as of April 30, 2024. Subscription services are typically satisfied over three to five years, support services are generally satisfied within one year, and professional services are typically satisfied within one year. Professional services under time and material contracts are not included in the remaining performance obligations calculation as these arrangements can be cancelled at any time.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Stock-Based Compensation Expense and Shareholders' Equity (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Sep. 30, 2022
Class of Stock [Line Items]
Prepayment for repurchase of stock				$ 0	$ 213,993,000
Remaining authorized amount	$ 138,200,000			138,200,000
Share Based Compensation Expense, Performance Based Awards	$ 4,600,000		$ 3,600,000	$ 11,700,000	$ 10,800,000
PSUs
Class of Stock [Line Items]
Period of time based Vesting				3 years
PSUs \| Tranche One
Class of Stock [Line Items]
Award vesting percentage				50.00%
PSUs \| Tranche two
Class of Stock [Line Items]
Award vesting percentage				50.00%
Accelerated Share Repurchase Agreement
Class of Stock [Line Items]
Authorized repurchase amount						$ 400,000,000
Common stock (in shares)		648,001	2,581,478		2,581,478
Shares repurchased (in shares)		3,229,479			3,436,670
Average price per share (in dollars per share)		$ 61.93			$ 62.85
Prepayment for repurchase of stock			$ 200,000,000

Fair Value of Financial Instruments (Details 2) - USD ($) $ in Thousands	Apr. 30, 2024	Jul. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	$ 705,456
12 Months or Greater	151,891
Total	857,347	$ 841,098
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	163,686
12 Months or Greater	0
Total	163,686	150,254
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	157,889
12 Months or Greater	96,655
Total	254,544	199,142
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	56,540
12 Months or Greater	0
Total	56,540	34,395
U.S. Government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	58,899
12 Months or Greater	15,229
Total	74,128	85,835
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	235,149
12 Months or Greater	0
Total	235,149	229,721
U.S. Government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	20,737
12 Months or Greater	874
Total	21,611	84,038
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	6,070
12 Months or Greater	37,314
Total	43,384	43,357
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less Than 12 Months	6,486
12 Months or Greater	1,819
Total	$ 8,305	$ 14,356

Cover Page - shares	9 Months Ended
Cover Page - shares	Apr. 30, 2024	May 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	001-35394
Entity Registrant Name	Guidewire Software, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4468504
Entity Address, Address Line One	970 Park Pl, Suite 200
Entity Address, City or Town	San Mateo,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94403
City Area Code	650
Local Phone Number	357-9100
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	GWRE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		82,663,305
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001528396
Current Fiscal Year End Date	--07-31

Stock-Based Compensation Expense and Shareholders' Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 36,809	$ 35,284	$ 109,411	$ 106,829
Net impact of deferred stock-based compensation	(159)	(265)	(237)	(535)
Total stock-based compensation expense, net	36,650	35,019	109,174	106,294
Total stock-based compensation expense	36,650	35,019	109,174	106,294
Unrecognized stock-based compensation expense	274,872		274,872
Stock options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Unrecognized stock-based compensation expense	740		$ 740
Unrecognized stock-based compensation expense, period for recognition			3 months 18 days
Restricted Stock Units (RSUs) [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Unrecognized stock-based compensation expense	274,132		$ 274,132
Unrecognized stock-based compensation expense, period for recognition			2 years 4 months 24 days
Cost of subscription and support revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,113	3,580	$ 9,989	10,488
Cost of license revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	72	93	220	359
Cost of services revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	4,722	4,631	14,154	14,377
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	10,003	10,084	30,127	29,676
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	9,354	7,432	25,273	22,343
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 9,386	$ 9,199	$ 29,411	$ 29,051

Fair Value of Financial Instruments (Tables)

9 Months Ended

Apr. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Available-for-sale Securities Reconciliation

Available-for-sale investments within cash equivalents and investments consist of the following (in thousands):


	April 30, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Asset-backed securities	$	43,481	$	26	$	(123)	$	43,384
Certificates of deposit	56,540		—		—		56,540
Commercial paper	163,686		—		—		163,686
Corporate bonds	254,954		122		(532)		254,544
Foreign government bonds	8,353		—		(48)		8,305
Money market funds	235,149		—		—		235,149
U.S. Government agency securities	21,660		—		(49)		21,611
U.S. Government bonds	74,609		—		(481)		74,128


Total	$	858,432	$	148	$	(1,233)	$	857,347


	July 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Asset-backed securities	$	43,573	$	18	$	(234)	$	43,357
Certificates of deposit	34,395		—		—		34,395
Commercial paper	150,254		—		—		150,254
Corporate bonds	200,691		41		(1,590)		199,142
Foreign government bonds	14,559		—		(203)		14,356
Money market funds	229,721		—		—		229,721
U.S. Government agency securities	84,180		9		(151)		84,038
U.S. Government bonds	87,064		1		(1,230)		85,835

Total	$	844,437	$	69	$	(3,408)	$	841,098

Investments Classified by Contractual Maturity Date

The following table summarizes the contractual maturities of the Company’s available-for-sale investments measured at fair value (in thousands):


	April 30, 2024
	Less Than 12 Months		12 Months or Greater		Total
Asset-backed securities	$	6,070	$	37,314	$	43,384
Certificates of deposit	56,540		—		56,540
Commercial paper	163,686		—		163,686
Corporate bonds	157,889		96,655		254,544
Foreign government bonds	6,486		1,819		8,305
Money market funds	235,149		—		235,149
U.S. Government agency securities	20,737		874		21,611
U.S. Government bonds	58,899		15,229		74,128


Total	$	705,456	$	151,891	$	857,347

Fair Value, Assets Measured on Recurring Basis

The following tables summarize the Company’s available-for-sale investments measured at fair value, by level within the fair value hierarchy (in thousands):


	April 30, 2024
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Commercial paper	$	—	$	44,624	$	—	$	44,624
Corporate bonds	$	—	$	2,992	$	—	$	2,992
Money market funds	235,149		—		—		235,149


Total cash equivalents	235,149		47,616		—		282,765
Short-term investments:
Asset-backed securities	—		6,070		—		6,070
Certificates of deposit	—		56,540		—		56,540
Commercial paper	—		119,062		—		119,062
Corporate bonds	—		154,897		—		154,897
Foreign government bonds	—		6,486		—		6,486
U.S. Government agency securities			20,737		—		20,737
U.S. Government bonds	—		58,899		—		58,899

Total short-term investments	—		422,691		—		422,691
Long-term investments:
Asset-backed securities	—		37,314		—		37,314
Corporate bonds	—		96,655		—		96,655
Foreign government bonds	—		1,819		—		1,819
U.S. Government agency securities	—		874		—		874
U.S. Government bonds	—		15,229		—		15,229

Total long-term investments	—		151,891		—		151,891
Total	$	235,149	$	622,198	$	—	$	857,347


	July 31, 2023
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Commercial paper	$	—	$	61,296	$	—	$	61,296
Money market funds	229,721		—		—		229,721
U.S. Government agency securities	—		8,478		—		8,478
U.S. Government bonds	—		15,949		—		15,949
Total cash equivalents	229,721		85,723		—		315,444
Short-term investments:
Asset-backed securities	—		2,705		—		2,705
Certificates of deposit	—		34,395		—		34,395
Commercial paper	—		88,958		—		88,958
Corporate bonds	—		156,396		—		156,396
Foreign government bonds	—		10,717		—		10,717
U.S. Government agency securities	—		69,101		—		69,101
U.S. Government bonds	—		34,600		—		34,600

Total short-term investments	—		396,872		—		396,872
Long-term investments:
Asset-backed securities	—		40,652		—		40,652
Corporate bonds	—		42,746		—		42,746
Foreign government bonds	—		3,639		—		3,639
U.S. Government agency securities	—		6,459		—		6,459
U.S. Government bonds	—		35,286		—		35,286
Total long-term investments	—		128,782		—		128,782
Total	$	229,721	$	611,377	$	—	$	841,098

Equity Method Investments

The following table summarizes the carrying amount of the Company’s strategic investments (in thousands):


	April 30, 2024		July 31, 2023
Equity investments using the measurement alternative	$	17,740	$	27,772
Equity investment using net asset value	$	5,916	$	—

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 240,678	$ 207,490	$ 688,982	$ 635,383
United States
Disaggregation of Revenue [Line Items]
Total revenue	163,391	138,392	447,390	408,572
Canada
Disaggregation of Revenue [Line Items]
Total revenue	24,279	24,449	72,994	78,118
Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	2,791	2,772	7,199	7,685
Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	190,461	165,613	527,583	494,375
Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	34,545	26,397	106,166	89,328
Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	15,672	15,480	55,233	51,680
Subscription and support
Disaggregation of Revenue [Line Items]
Total revenue	137,970	107,499	397,239	312,321
Subscription and support \| United States
Disaggregation of Revenue [Line Items]
Total revenue	94,089	71,764	271,015	210,189
Subscription and support \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	19,583	18,176	56,362	51,763
Subscription and support \| Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	1,484	1,441	4,469	4,397
Subscription and support \| Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	115,156	91,381	331,846	266,349
Subscription and support \| Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	15,139	10,319	43,104	28,959
Subscription and support \| Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	7,675	5,799	22,289	17,013
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	120,430	89,091	343,152	254,083
Support
Disaggregation of Revenue [Line Items]
Total revenue	17,540	18,408	54,087	58,238
License
Disaggregation of Revenue [Line Items]
Total revenue	56,210	50,602	161,318	164,669
License \| United States
Disaggregation of Revenue [Line Items]
Total revenue	36,016	33,528	85,522	90,458
License \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	2,859	1,932	10,662	11,537
License \| Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	855	439	1,357	1,291
License \| Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	39,730	35,899	97,541	103,286
License \| Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	10,556	8,351	37,511	34,484
License \| Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	5,924	6,352	26,266	26,899
Term license
Disaggregation of Revenue [Line Items]
Total revenue	55,005	50,556	160,017	164,512
Perpetual license
Disaggregation of Revenue [Line Items]
Total revenue	1,205	46	1,301	157
Services
Disaggregation of Revenue [Line Items]
Total revenue	46,498	49,389	130,425	158,393
Services \| United States
Disaggregation of Revenue [Line Items]
Total revenue	33,286	33,100	90,853	107,925
Services \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	1,837	4,341	5,970	14,818
Services \| Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	452	892	1,373	1,997
Services \| Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	35,575	38,333	98,196	124,740
Services \| Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	8,850	7,727	25,551	25,885
Services \| Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,073	$ 3,329	$ 6,678	$ 7,768

Net Income (Loss) Per Share

9 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

The Company calculates basic earnings per share by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. For calculating diluted earnings per share, the Company uses the treasury stock method for options to purchase common stock, time-based restricted stock units (“RSUs”), and performance-based restricted stock units (“PSUs”) and the if-converted method for Convertible Senior Notes. RSUs and PSUs are collectively referred to as “Stock Awards.”


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Numerator:
Net income (loss)	$	(5,478)	$	(45,568)	$	(22,862)	$	(124,075)
Net income (loss) per share:


Basic and diluted	$	(0.07)	$	(0.56)	$	(0.28)	$	(1.51)
Denominator:
Weighted average shares used in computing net income (loss) per share:





Basic and diluted	82,500,109		81,832,244		82,105,357		82,407,950


	Three Months Ended		Nine Months Ended
	April 30,		April 30,
	2024	2023	2024	2023
Stock options	181,646	40,041	184,000	13,243
Stock awards	3,764,735	2,547,035	3,846,177	2,082,196
Convertible senior notes	3,550,532	3,516,480	3,516,480	3,516,480

During the three months ended April 30, 2024, the average market price of the Company’s common stock exceeded the initial conversion price of the Convertible Senior Notes and the conversion premium is included as anti-dilutive in the Convertible Senior Notes. During the nine months ended April 30, 2024 and the three and nine months ended April 30, 2023, the average market price of the Company’s common stock did not exceed the initial conversion price of the Convertible Senior Notes

Stock-Based Compensation Expense and Shareholders' Equity (Tables)

9 Months Ended

Apr. 30, 2024

Stockholders' Equity and Stock-based Compensation [Abstract]

Stock-based compensation expense

Stock-based compensation expense related to stock options and Stock Awards is included in the Company’s condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended				Nine Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Stock-based compensation expense	$	36,809	$	35,284	$	109,411	$	106,829
Net impact of deferred stock-based compensation	(159)		(265)		(237)		(535)
Total stock-based compensation expense, net	$	36,650	$	35,019	$	109,174	$	106,294
Stock-based compensation expense is included in the following categories:
Cost of subscription and support revenue	$	3,113	$	3,580	$	9,989	$	10,488
Cost of license revenue	72		93		220		359
Cost of services revenue	4,722		4,631		14,154		14,377
Research and development	10,003		10,084		30,127		29,676
Sales and marketing	9,354		7,432		25,273		22,343
General and administrative	9,386		9,199		29,411		29,051
Total stock-based compensation expense	$	36,650	$	35,019	$	109,174	$	106,294

Total unrecognized stock-based compensation expense related to the Company’s stock options and Stock Awards as of April 30, 2024 is as follows:


	Unrecognized Expense (in thousands)		Weighted Average Expected Recognition Period (in years)
Stock Options	$	740	0.3
Stock Awards	274,132		2.4
Total unrecognized stock-based compensation expense	$	274,872

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of Stock Awards activity under the Company’s equity incentive plans is as follows:


	Stock Awards Outstanding
	Number of Stock Awards Outstanding	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)(1)
Balance as of July 31, 2023	3,414,706	$	85.68	$	289,635
Granted	1,606,142	$	92.84
Released	(1,221,287)	$	91.73	$	121,796
Canceled	(236,873)	$	89.25
Balance as of April 30, 2024	3,562,688	$	86.59	$	393,321
Expected to vest as of April 30, 2024	3,562,688	$	86.59	$	393,321

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option activity under the Company’s equity incentive plans is as follows:


	Stock Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value(1)
				(in years)	(in thousands)
Balance as of July 31, 2023	187,572	$	65.90	8.8	$	3,549
Granted	—	$	—
Exercised	(1,115)	$	12.44		$	110
Canceled	(5,217)	$	68.39
Balance as of April 30, 2024	181,240	$	66.16	8.1	$	8,019
Vested and expected to vest as of April 30, 2024	181,240	$	66.16	8.1	$	8,019
Exercisable as of April 30, 2024	7,109	$	11.52	2.8	$	703

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The Company determined the fair value of the portion of the award subject to the market performance of the Company’s common stock using a Monte Carlo simulation model, which included the following assumptions:

Performance Period

September 13, 2023 to September 13, 2026

3-year Historical Volatility

35.0%

3-year Risk Free Rate

4.5%

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies There has been no material change in the Company’s contractual obligations and commitments other than in the ordinary course of business since the Company’s fiscal year ended July 31, 2023. See the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2023 for additional information regarding the Company’s contractual obligations. Legal Proceedings From time to time, the Company is involved in various legal proceedings and receives claims arising from the normal course of business activities. The Company has not recorded any accrual for claims as of April 30, 2024 or July 31, 2023. The Company has not accrued for estimated losses in the accompanying condensed consolidated financial statements as the Company has determined that no provision for liability nor disclosure is required related to any claim against the Company because: (a) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such claim; (b) a reasonably possible loss or range of loss cannot be estimated; or (c) such estimate is immaterial. The Company expenses legal fees in the period in which they are incurred. Indemnification The Company sells software licenses and services to its customers under Software License Agreements (“SLA”) and Software Subscription Agreements (“SSA”). SLAs and SSAs contain the terms of the contractual arrangement with the customer and generally include certain provisions for defending the customer against any claims that the Company’s software infringes upon a patent, copyright, trademark, or other proprietary right of a third party, and in the case of SSAs, the Company may include certain provisions for limited liability for defending the customer against any claims for a data breach. SLAs and SSAs also generally indemnify the customer against judgments, settlements, fines, penalties, costs, and expenses resulting from a claim (“Losses”) against the customer in the event the Company’s software is found to infringe upon such third-party rights. The Company has not had to reimburse any of its customers for Losses related to indemnification provisions and no material claims against the Company were outstanding as of April 30, 2024 or July 31, 2023. For several reasons, including the lack of prior indemnification claims and the lack of a monetary liability limit for certain infringement cases under various SLAs and SSAs, the Company cannot estimate the amount of potential future payments, if any, related to indemnification provisions. The Company has also agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines, and settlement amounts incurred by any of these persons in any action or proceeding to which any of these persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that may enable the Company to recover a portion of any future amounts paid.

Leases (Supplemental Cash and Non-Cash Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Leases [Abstract]
Cash payments for operating leases	$ 8,684	$ 10,797
Operating lease assets obtained in exchange for lease liabilities	$ 2,621	$ 46,781