0001528396-24-000105 | 10-K | XBRL Viewer

Stock-Based Compensation Expense and Shareholders' Equity (Details 2) $ in Thousands	12 Months Ended
	Jul. 31, 2024 USD ($)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock Options	$ 237
Unrecognized stock-based compensation expense	238,542
Restricted stock units RSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock Awards	$ 238,305
Unrecognized stock-based compensation expense, weighted average period	2 years 2 months 12 days
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Unrecognized stock-based compensation expense, weighted average period	2 months 12 days

Stock-Based Compensation Expense and Shareholders' Equity (Details 5) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Number of Stock Options Outstanding (in shares)
Balance at beginning of period (in shares)	187,572	75,706	25,278
Granted (in shares)	0	121,168	60,900
Exercised (in shares)	(15,517)	(6,582)	(10,472)
Canceled (in shares)	(5,217)	(2,720)	0
Balance at end of period (in shares)	166,838	187,572	75,706	25,278
Vested and expected to vest (in shares)	166,838
Exercisable (in shares)	50,779
Weighted Average Exercise Price (in dollars per share)
Balance at beginning of period (in dollars per share)	$ 65.90	$ 61.93	$ 17.39
Granted (in dollars per share)	0	66.76	71.67
Exercised (in dollars per share)	67.98	34.60	11.10
Canceled (in dollars per share)	68.39	69.60	0
Balance at end of period (in dollars per share)		$ 65.90	$ 61.93	$ 17.39
Vested and expected to vest as of July 31, 2020 (in dollars per share)	65.63
Exercisable as of July 31, 2020 (in dollars per share)	$ 63.07
Weighted Average Remaining Contractual Life (in years)
Weighted average remaining contractual life	7 years 10 months 24 days	8 years 9 months 18 days	8 years 8 months 12 days	5 years
Vested and expected to vest as of July 31, 2024	7 years 10 months 24 days
Exercisable as of July 31, 2024	7 years 2 months 12 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value	$ 14,088	$ 3,549	$ 1,196	$ 2,472
Exercised	1,061	$ 255	$ 1,047
Vested and expected to vest as of July 31, 2024	14,088
Exercisable as of July 31, 2024	$ 4,418

Stock-Based Compensation Expense and Shareholders' Equity (Details Textual) - USD ($)			1 Months Ended	12 Months Ended
	Dec. 19, 2023	Dec. 20, 2022	Sep. 30, 2022	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021	Dec. 15, 2020
Class of Stock [Line Items]
Total stock-based compensation expense				$ 146,460,000	$ 142,842,000	$ 137,011,000
Common stock, shares authorized (in shares)				500,000,000	500,000,000
Common stock, par value (in dollars per share)				$ 0.0001	$ 0.0001
Common Stock, Shares, Issued (in shares)				83,025,637	81,440,669
Common stock, shares outstanding (in shares)				83,025,637	81,440,669
Treasury Stock, Shares, Acquired					4,041,284	322,545
Treasury Stock Acquired, Average Cost Per Share					$ 64.78	$ 116.11
Treasury Stock, Value, Acquired, Cost Method					$ 261,800,000	$ 37,500,000
Payments for Repurchase of Common Stock				$ 0	$ 261,807,000	$ 37,451,000
Treasury Stock, Common, Shares				648,001
Accelerated Share Repurchase Agreement
Class of Stock [Line Items]
Authorized amount			$ 400,000,000
Remaining authorized amount			138,200,000
Treasury Stock, Shares, Acquired				3,229,479
Treasury Stock Acquired, Average Cost Per Share				$ 61.93
Payments for Repurchase of Common Stock			$ 200,000,000
Treasury Stock, Common, Shares			2,581,478
Common stock \| Common stock
Class of Stock [Line Items]
Shares, Outstanding				83,025,637	81,440,669	84,084,209	83,194,157
Performance Shares
Class of Stock [Line Items]
Period of time based vesting					3 years
Total stock-based compensation expense				$ 16,200,000	$ 15,000,000	$ 14,700,000
Performance Shares \| Tranche One
Class of Stock [Line Items]
Vesting percentage					50.00%
Performance Shares \| Tranche Two
Class of Stock [Line Items]
Vesting percentage					50.00%
Stock options
Class of Stock [Line Items]
Share price (in dollars per share)				$ 150.07	$ 84.82	$ 77.72
Stock Plan 2020
Class of Stock [Line Items]
Number of shares authorized (in shares)								5,000,000
Number of additional shares authorized (in shares)	3,800,000	1,780,000

The Company and Summary of Significant Accounting Policies and Estimates (Details Textual) - USD ($)	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	2 years
Goodwill, Intangible Assets and Long Lived Assets Impairment [Abstract]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0
Principal	$ 400,000,000	400,000,000
Revenue Recognition [Abstract]
Revenue, performance obligations, timing	Revenue from subscription arrangements is recognized ratably over the subscription period using a time-based measure of progress as customers receive the benefits from their subscriptions over the contractually agreed-upon term. The Company’s subscription arrangements are generally three to five years in duration. Consideration for subscription arrangements is typically billed in advance on an annual basis over the contract period and the annual billing may ramp over the contract period.
Capitalized contract cost, amortization period	5 years
Warranties [Abstract]
Advertising expense	$ 300,000	300,000	$ 300,000
Services
Revenue Recognition [Abstract]
Revenue, performance obligation, initial term	1 year
Prepaid Expenses and Other Current Assets
Finite-Lived Intangible Assets [Line Items]
Contingent consideration	$ 1,200,000	2,900,000
Other Noncurrent Assets
Finite-Lived Intangible Assets [Line Items]
Contingent consideration	$ 0	$ 2,100,000
Stock options
Warranties [Abstract]
Expected dividend yield		0.00%	0.00%
Minimum
Warranties [Abstract]
Warranty term	3 months
Minimum \| Subscription and support
Revenue Recognition [Abstract]
Revenue, performance obligation, initial term	3 years
Minimum \| License
Revenue Recognition [Abstract]
Revenue, performance obligation, initial term	2 years
Revenue, performance obligation, renewal term	1 year
Minimum \| Restricted stock units RSUs
Warranties [Abstract]
Period of time based vesting	3 years
Maximum
Warranties [Abstract]
Warranty term	12 months
Maximum \| Subscription and support
Revenue Recognition [Abstract]
Revenue, performance obligation, initial term	5 years
Maximum \| Restricted stock units RSUs
Warranties [Abstract]
Period of time based vesting	4 years
Weighted Average \| Services
Revenue Recognition [Abstract]
Revenue, performance obligation, initial term	1 year
Convertible Senior Notes, 1.250% \| Senior Notes
Goodwill, Intangible Assets and Long Lived Assets Impairment [Abstract]
Principal				$ 400,000,000
Stated interest rate				1.25%
Capitalized software development costs \| Minimum
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	3 years
Capitalized software development costs \| Maximum
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	5 years

Revenue (Textual) (Details) - USD ($)	12 Months Ended
Revenue (Textual) (Details) - USD ($)	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Disaggregation of Revenue [Line Items]
Increase in unbilled accounts receivable	$ (7,700,000)
Allowance for credit loss	0	$ 0
Contract costs	17,739,000	15,918,000
Contract costs	36,950,000	31,337,000
Amortization of contract costs	17,816,000	$ 17,966,000	$ 14,456,000
Contract with customer, liability, revenue recognized	201,300,000
Remaining performance obligation, amount	$ 2,000,000,000
Subscription \| Minimum
Disaggregation of Revenue [Line Items]
Revenue, performance obligation, initial term	3 years
Subscription \| Maximum
Disaggregation of Revenue [Line Items]
Revenue, performance obligation, initial term	5 years
Support
Disaggregation of Revenue [Line Items]
Revenue, performance obligation, initial term	1 year
Services
Disaggregation of Revenue [Line Items]
Revenue, performance obligation, initial term	1 year

Commitments and Contingencies (Details)	Jul. 31, 2024 USD ($) customer	Jul. 31, 2023 USD ($) customer	Mar. 31, 2018 USD ($)
Purchase Commitments
2025	$ 169,512,000
2026	154,779,000
2027	145,981,000
2028	34,863,000
2029 and thereafter	2,000
Total	505,137,000	$ 600,000,000
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	405,000,000
2026	0
2027	0
2028	0
2029 and thereafter	0
Total	405,000,000
Total
2025	574,512,000
2026	154,779,000
2027	145,981,000
2028	34,863,000
2029 and thereafter	2,000
Total	910,137,000
Other Commitments [Line Items]
Purchase Obligation	505,137,000	$ 600,000,000
Purchase Obligation Period		5 years
Principal	400,000,000	$ 400,000,000
Indemnification Agreement, Reimbursement Paid	$ 0	$ 0
Outstanding claims \| customer	0	0
Convertible Debt \| Senior Notes
Other Commitments [Line Items]
Principal			$ 400,000,000.0

Leases (Supplemental Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Leases [Abstract]
Operating lease assets	$ 43,750	$ 52,373
Current lease liabilities, extensible list	Other current liabilities	Other current liabilities
Current portion of lease liabilities	$ 9,295	$ 8,433
Non-current portion of lease liabilities	34,721	42,972
Total lease liability balance	$ 44,016	$ 51,405
Weighted average remaining lease term (years)	5 years 3 months 18 days	6 years 2 months 12 days
Weighted average discount rate	4.00%	3.90%
Cash payments for operating leases	$ 11,561	$ 12,569	$ 19,120
Operating lease assets obtained in exchange for operating lease liabilities	$ 2,621	$ (36,981)	$ 5,867

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 980,497	$ 905,341	$ 812,614
Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	749,822	691,845	626,818
United States
Disaggregation of Revenue [Line Items]
Total revenue	632,568	573,860	516,424
Canada
Disaggregation of Revenue [Line Items]
Total revenue	105,761	105,681	100,010
Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	11,493	12,304	10,384
Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	154,434	142,642	118,419
Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	76,241	70,854	67,377
Subscription and support
Disaggregation of Revenue [Line Items]
Total revenue	549,087	429,667	343,708
Subscription and support \| Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	457,098	366,082	289,418
Subscription and support \| United States
Disaggregation of Revenue [Line Items]
Total revenue	373,675	289,152	229,177
Subscription and support \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	77,414	71,039	55,633
Subscription and support \| Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	6,009	5,891	4,608
Subscription and support \| Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	59,968	40,661	32,153
Subscription and support \| Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	32,021	22,924	22,137
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	477,461	352,145	259,232
Support
Disaggregation of Revenue [Line Items]
Total revenue	71,626	77,522	84,476
License
Disaggregation of Revenue [Line Items]
Total revenue	250,176	265,593	258,631
License \| Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	156,344	161,465	171,703
License \| United States
Disaggregation of Revenue [Line Items]
Total revenue	133,310	141,465	151,464
License \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	19,704	16,677	17,145
License \| Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	3,330	3,323	3,094
License \| Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	59,274	66,743	53,248
License \| Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	34,558	37,385	33,680
Term License [Member]
Disaggregation of Revenue [Line Items]
Total revenue	248,849	265,389	258,440
Perpetual License [Member]
Disaggregation of Revenue [Line Items]
Total revenue	1,327	204	191
Services
Disaggregation of Revenue [Line Items]
Total revenue	181,234	210,081	210,275
Services \| Total Americas
Disaggregation of Revenue [Line Items]
Total revenue	136,380	164,298	165,697
Services \| United States
Disaggregation of Revenue [Line Items]
Total revenue	125,583	143,243	135,783
Services \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	8,643	17,965	27,232
Services \| Other Americas
Disaggregation of Revenue [Line Items]
Total revenue	2,154	3,090	2,682
Services \| Total EMEA
Disaggregation of Revenue [Line Items]
Total revenue	35,192	35,238	33,018
Services \| Total APAC
Disaggregation of Revenue [Line Items]
Total revenue	$ 9,662	$ 10,545	$ 11,560

Income Taxes

12 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The Company recognized an income tax benefit of $20.7 million for fiscal year 2024 compared to an income tax benefit of $22.2 million for fiscal year 2023. The decrease in the Company’s income tax benefit for fiscal year 2024 was primarily due to a decrease in pre-tax net loss, offset by an increase in tax deductions related to stock-based compensation, the foreign derived intangible income deduction, and an increase in research and development tax credits.

The effective tax rate could differ from the statutory U.S. Federal income tax rate of 21% mainly due to state taxes, permanent differences for stock-based compensation including excess tax benefits, research and development credits, foreign earnings taxed in the United States, the foreign derived intangible income deduction, a change in valuation allowance and certain non-deductible expenses, including, but not limited to, executive compensation limitation.

The Company’s income (loss) before provision for (benefit from) income taxes is as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Domestic	$	(44,280)	$	(150,628)	$	(239,601)
International	17,442		16,534		9,886
Income (loss) before provision for (benefit from) income taxes	$	(26,838)	$	(134,094)	$	(229,715)

The provision for (benefit from) income taxes consisted of the following (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Current:
U.S. Federal	$	738	$	555	$	1,937
State	1,710		564		43
Foreign	3,563		3,904		1,852
Total current	6,011		5,023		3,832
Deferred:
U.S. Federal	(22,856)		(23,372)		(48,775)
State	(3,396)		(3,808)		(5,656)
Foreign	(494)		(82)		1,315
Total deferred	(26,746)		(27,262)		(53,116)
Total provision for (benefit from) income taxes	$	(20,735)	$	(22,239)	$	(49,284)

Differences between income taxes calculated using the statutory federal income tax rate of 21% and the provision for income taxes are as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Statutory federal income tax	$	(5,634)	$	(28,159)	$	(48,240)
State taxes, net of federal benefit	(1,702)		(3,253)		(5,613)
Stock-based compensation	(4,415)		9,902		2,912
Non-deductible officers' compensation	4,996		2,783		4,484
Foreign income taxed at different rates	(960)		(55)		(365)
Research tax credits	(12,067)		(7,817)		(6,820)
Base erosion and anti-abuse tax	(3,091)		(935)		349
Foreign earnings taxed in the U.S.	2,390		2,199		1,201
Non-deductible acquisition costs	30		617		744

Permanent differences and others	1,254		1,576		476
Change in valuation allowance	491		903		1,588
Foreign derived intangible income	(2,027)		—		—
Total provision for (benefit from) income taxes	$	(20,735)	$	(22,239)	$	(49,284)

The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities are as follows (in thousands):


	As of July 31,
	2024		2023
Accruals and reserves	$	27,636	$	24,899
Stock-based compensation	9,077		8,389
Deferred revenue	711		1,188
Capitalized research and development	110,502		59,332
Lease liabilities	9,908		11,555
Convertible debt	919		2,344
Net operating loss carryforwards	49,864		85,573
Tax credits	145,934		127,209
Total deferred tax assets	354,551		320,489
Less valuation allowance	65,791		59,356
Net deferred tax assets	288,760		261,133
Less deferred tax liabilities:
Intangible assets	12,682		10,915
Operating lease assets	9,130		10,927
Property and equipment	184		576

Unremitted foreign earnings	851		931
Capitalized commissions	15,022		13,084
Total deferred tax liabilities	37,869		36,433
Total net deferred tax assets	$	250,891	$	224,700

The Company considered both positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, differences between prior book and tax profits/losses, and results of future operations, and determined that a valuation allowance was not required for a significant portion of its deferred tax assets. A valuation allowance of $65.8 million and $59.4 million remained as of July 31, 2024 and 2023, respectively, primarily related to California, U.S. Federal, and Canada deferred tax assets. The increase of $6.4 million in the valuation allowance in the current fiscal year relates primarily to net operating losses, and income tax credits in certain tax jurisdictions for which no tax benefit is expected to be recognized.

As of July 31, 2024, the Company had U.S. Federal, California, and other states net operating loss (“NOL”) carryforwards of $157.8 million, $61.9 million and $173.9 million, respectively. The U.S. Federal and California NOL carryforwards will start to expire in 2029 and 2025, respectively.

As of July 31, 2024, the Company had research and development tax credit (“R&D credit”) carryforwards of the following (in thousands):


U.S. Federal	$	82,470
California	62,878
Total R&D credit carryforwards	$	145,348

U.S. Federal R&D credit carryforwards available at July 31, 2024 will expire starting in 2025. California R&D tax credits do not expire.

Federal and California laws impose restrictions on the utilization of NOL carryforwards and R&D credit carryforwards in the event of a change in ownership of the Company, as defined by Internal Revenue Code 382 and 383. The Company experienced an ownership change in the past that does not materially impact the availability of its carryforwards. However, should there be an ownership change in the future, the Company’s ability to utilize existing carryforwards could be substantially restricted.

As of July 31, 2024, the Company has recorded a provisional estimate for foreign withholding taxes on undistributed earnings from foreign subsidiaries of $0.9 million. The Company may repatriate foreign earnings in the future to the extent that the repatriation is not restricted by local laws or there are no substantial incremental costs associated with such repatriation.

Beginning in the Company's fiscal year 2023, the Tax Cuts and Jobs Act of 2017 eliminates the right to deduct research and development expenditures for tax purposes in the period the expenses were incurred and instead requires all U.S. and foreign research and development expenditures to be amortized over five and fifteen tax years, respectively. Congress has considered legislation that would defer the amortization requirement to later years, but as of July 31, 2024, the requirement has not been modified. Accordingly, the Company has capitalized research and development expenses for tax purposes in fiscal years 2024 and 2023.

Unrecognized Tax Benefits

Activity related to unrecognized tax benefits is as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022

Unrecognized tax benefits - beginning of period	$	20,518	$	18,786	$	17,138
Gross increases - prior period tax positions	231		1		147
Gross decreases - prior period tax positions	(2,664)		(982)		—
Gross increases - current period tax positions	3,435		2,713		1,501

Unrecognized tax benefits - end of period	$	21,520	$	20,518	$	18,786

During the year ended July 31, 2024, the Company’s unrecognized tax benefits increased by $1.0 million. As of July 31, 2024, the Company had unrecognized tax benefits of $13.1 million that, if recognized, would affect the Company’s effective tax rate. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense in its consolidated statements of operations. As of July 31, 2024, the total interest and penalties related to unrecognized tax benefits was not material.

The Company, or one of its subsidiaries, files income taxes in the U.S. Federal jurisdiction and various state and foreign jurisdictions. If the Company utilizes NOL carryforwards or tax credits in future years, the U.S. Federal, state and local, and non-U.S. tax authorities may examine the tax returns covering the period in which the net operating losses and tax credits arose. As a result, the Company’s tax returns in the U.S. and California remain open to examination from fiscal years 2002 through 2024.

- Definition

The entire disclosure for income tax.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Company's income (loss) before provision for income taxes
Income (loss) before provision for (benefit from) income taxes	$ (26,838)	$ (134,094)	$ (229,715)
Domestic
Company's income (loss) before provision for income taxes
Income (loss) before provision for (benefit from) income taxes	(44,280)	(150,628)	(239,601)
International
Company's income (loss) before provision for income taxes
Income (loss) before provision for (benefit from) income taxes	$ 17,442	$ 16,534	$ 9,886

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
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Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.5-03(10))
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Revenue

12 Months Ended

Jul. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

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


	Fiscal years ended July 31,
	2024		2023		2022
Subscription and support
Subscription	$	477,461	$	352,145	$	259,232
Support	71,626		77,522		84,476
License
Term license	248,849		265,389		258,440
Perpetual license	1,327		204		191
Services	181,234		210,081		210,275
Total revenue	$	980,497	$	905,341	$	812,614

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


	Fiscal year ended July 31, 2024
	Subscription and support		License		Services		Total

United States	$	373,675	$	133,310	$	125,583	$	632,568
Canada	77,414		19,704		8,643		105,761
Other Americas	6,009		3,330		2,154		11,493
Total Americas	457,098		156,344		136,380		749,822
Total EMEA	59,968		59,274		35,192		154,434
Total APAC	32,021		34,558		9,662		76,241
Total revenue	$	549,087	$	250,176	$	181,234	$	980,497


	Fiscal year ended July 31, 2023
	Subscription and support		License		Services		Total

United States	$	289,152	$	141,465	$	143,243	$	573,860
Canada	71,039		16,677		17,965		105,681
Other Americas	5,891		3,323		3,090		12,304
Total Americas	366,082		161,465		164,298		691,845


Total EMEA	40,661		66,743		35,238		142,642
Total APAC	22,924		37,385		10,545		70,854
Total revenue	$	429,667	$	265,593	$	210,081	$	905,341


	Fiscal year ended July 31, 2022
	Subscription and support		License		Services		Total

United States	$	229,177	$	151,464	$	135,783	$	516,424
Canada	55,633		17,145		27,232		100,010
Other Americas	4,608		3,094		2,682		10,384
Total Americas	289,418		171,703		165,697		626,818
Total EMEA	32,153		53,248		33,018		118,419
Total APAC	22,137		33,680		11,560		67,377
Total revenue	$	343,708	$	258,631	$	210,275	$	812,614

No country or region other than those listed above accounted for more than 10% of revenue during the fiscal years ended July 31, 2024, 2023, and 2022.

Customer Contract – Related Balance Sheet Amounts

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


	July 31, 2024		July 31, 2023
Unbilled accounts receivable, net	$	91,188	$	98,864
Contract costs, net	$	54,689	$	47,254

Deferred revenue, net	$	285,483	$	212,911

Unbilled accounts receivable

The unbilled accounts receivable, net decreased by $7.7 million primarily due to the impact of current year billings on multi-year term license arrangements under which billings occur later than revenue recognition and, to a lesser extent, due to subscription orders with ramped billing schedules.

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

Contract costs

The current portion of contract costs of $17.7 million and $15.9 million is included in prepaid and other current assets on the Company’s consolidated balance sheets as of July 31, 2024 and 2023, respectively. The non-current portion of contract costs of $37.0 million and $31.3 million is included in other assets on the Company’s consolidated balance sheets as of July 31, 2024 and 2023, respectively. The Company amortized $17.8 million, $18.0 million, and $14.5 million of contract costs during the fiscal years ended July 31, 2024, 2023, and 2022, respectively.

Deferred revenue

During the fiscal year ended July 31, 2024, the Company recognized revenue of $201.3 million related to the Company’s deferred revenue balance 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 $2.0 billion as of July 31, 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
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-Name Accounting Standards Codification
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-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
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-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-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
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-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

12 Months Ended

Jul. 31, 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 consolidated statements of operations as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Stock-based compensation expense	$	146,700	$	143,566	$	138,156
Net impact of deferred stock-based compensation	(240)		(724)		(1,145)
Total stock-based compensation expense	$	146,460	$	142,842	$	137,011

Stock-based compensation expense is included in the following categories:
Cost of subscription and support revenue	$	13,425	$	14,073	$	13,222
Cost of license revenue	186		463		692
Cost of services revenue	19,013		19,257		20,978
Research and development	40,213		39,865		33,446
Sales and marketing	34,590		29,925		31,281
General and administrative	39,033		39,259		37,392
Total stock-based compensation expense	146,460		142,842		137,011
Tax benefit from stock-based compensation	37,670		22,566		26,151
Total stock-based compensation, net of tax effect	$	108,790	$	120,276	$	110,860

Total unrecognized stock-based compensation expense related to the Company’s stock options and Stock Awards as of July 31, 2024 is as follows:


	Unrecognized Expense (in thousands)		Weighted Average Expected Recognition Period (in years)
Stock Options	$	237	0.2
Stock Awards	238,305		2.2
Total unrecognized stock-based compensation expense	$	238,542

Stock Awards

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


	Stock Awards Outstanding
	Number of Stock Awards	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value(1) (in thousands)













Balance as of July 31, 2021	2,394,968	$	107.15	$	275,900
Granted	1,942,391	$	112.83
Released	(1,202,125)	$	107.29	$	118,669
Canceled	(349,881)	$	111.80
Balance as of July 31, 2022	2,785,353	$	110.47	$	216,478
Granted	2,287,778	$	66.36
Released	(1,391,162)	$	100.92	$	97,324
Canceled	(267,263)	$	99.31
Balance as of July 31, 2023	3,414,706	$	85.68	$	289,635
Granted	1,639,400	$	93.63
Released	(1,569,451)	$	91.48	$	168,144
Canceled	(282,589)	$	89.22
Balance as of July 31, 2024	3,202,066	$	86.60	$	480,534
Expected to vest as of July 31, 2024	3,202,066	$	86.60	$	480,534

(1)Aggregate intrinsic value at each period end represents the total market value of Stock Awards at the Company’s closing stock price of $150.07, $84.82, and $77.72 on July 31, 2024, 2023, and 2022, 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 $16.2 million, $15.0 million, and $14.7 million during the fiscal years ended July 31, 2024, 2023, and 2022, respectively.

Stock Options

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


	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value(1) (in thousands)
Balance as of July 31, 2021	25,278	$	17.39	5.0	$	2,472
Granted	60,900	$	71.67
Exercised	(10,472)	$	11.10		$	1,047
Canceled	—	$	—
Balance as of July 31, 2022	75,706	$	61.93	8.7	$	1,196
Granted	121,168	$	66.76
Exercised	(6,582)	$	34.60		$	255
Canceled	(2,720)	$	69.60
Balance as of July 31, 2023	187,572	$	65.90	8.8	$	3,549
Granted	—	$	—
Exercised	(15,517)	$	67.98		$	1,061
Canceled	(5,217)	$	68.39
Balance as of July 31, 2024	166,838			7.9	$	14,088
Vested and expected to vest as of July 31, 2024	166,838	$	65.63	7.9	$	14,088
Exercisable as of July 31, 2024	50,779	$	63.07	7.2	$	4,418

(1)Aggregate intrinsic value at each fiscal year end represents the difference between the Company’s closing stock price of $150.07, $84.82, and $77.72 on July 31, 2024, 2023, and 2022, respectively, and the exercise price of outstanding stock options. Aggregate intrinsic value for exercised options represents the difference between the Company’s stock price at date of exercise and the exercise price.

Valuation of Awards

Stock Options

The fair value of the stock options is estimated at the grant date using the Black-Scholes option-pricing model, which included the following assumptions:


	Fiscal years ended July 31,
	2024	2023	2022
Expected term (in years)	*	6.0	6.0
Risk-free interest rate	*	2.9% - 4.2%	3.0% - 3.6%
Expected volatility	*	32.1% - 33.1%	31.8% - 31.9%
Expected dividend yield	*	—%	—%

*No options were granted during fiscal year ended July 31, 2024.

Common Stock Reserved for Issuance

As of July 31, 2024 and 2023, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.0001 per share and, of these, 83,025,637 and 81,440,669 shares of common stock were issued and outstanding, respectively. As of July 31, 2024 and 2023, the Company had reserved shares of common stock for future issuance as follows:


	July 31, 2024	July 31, 2023
Exercise of stock options to purchase common stock	166,838	187,572
Vesting of stock awards	3,202,066	3,414,706
Shares available under stock plans	5,450,102	2,996,441
Total common stock reserved for issuance	8,819,006	6,598,719

Equity Incentive Plans

On December 15, 2020, the Company’s stockholders adopted the 2020 Stock Plan (“2020 Plan”) for the purpose of granting equity-based incentive awards. The Company initially reserved 5,000,000 shares of its common stock for the issuance of awards under the 2020 Plan. The shares available for issuance are subject to adjustment in the event of a stock split, stock dividend or other defined changes in the Company’s capitalization. The 2020 Plan replaced the Company’s 2011 Stock Plan; however, awards outstanding under the 2011 Stock Plan will continue to be governed by their existing terms. On December 20, 2022, the Company’s stockholders approved the amendment and restatement of the 2020 Stock Plan to increase the total number of shares of common stock available for issuance under the 2020 Stock Plan by 1,780,000. On December 19, 2023, the Company’s stockholders approved the amendment and restatement of the 2020 Stock Plan to increase the total number of shares of common stock available for issuance under the 2020 Stock Plan by 3,800,000.

The shares the Company issues under the 2020 Plan will be from the Company’s pool of authorized but unissued shares. The shares of common stock underlying any awards under the 2011 Stock Plan that are forfeited, canceled, held back upon exercise or settlement of an award to cover the exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without any issuance of stock or are otherwise terminated (other than by exercise) are added back to the shares of stock available for issuance under the 2020 Plan, as amended.

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. As of July 31, 2024, $138.2 million remained available to purchase under the authorized and approved share repurchase program.

In September 2022, 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. Under the terms of the ASR, the total number of shares delivered and average price paid per share was determined at the settlement date based on the volume weighted average price over the term of the ASR, less an agreed upon discount. The ASR was settled in full with the delivery of an additional 648,001 shares of common stock during the third quarter of fiscal year 2023, 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 fiscal year ended July 31, 2024, the Company did not repurchase any shares of common stock. During the fiscal year ended July 31, 2023, the Company repurchased 4,041,284 shares of common stock at an average price of $64.78 per share, for an aggregate purchase price of $261.8 million, which includes the shares repurchased under the ASR agreement. During the fiscal year ended July 31, 2022, the Company repurchased 322,545 shares of common stock at an average price of $116.11 per share, for an aggregate purchase price of $37.5 million under a previous share repurchase program.

Fair Value of Financial Instruments (Tables)

12 Months Ended

Jul. 31, 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):


	July 31, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Asset-backed securities	$	58,812	$	116	$	(61)	$	58,867
Certificates of deposit	46,900		—		—		46,900
Commercial paper	138,598		—		—		138,598
Corporate bonds	245,817		564		(107)		246,274
Foreign government bonds	5,590		21		(15)		5,596
Money market funds	360,881		—		—		360,881
U.S. Government agency securities	33,499		12		(12)		33,499
U.S. Government bonds	89,928		72		(117)		89,883





Total	$	980,025	$	785	$	(312)	$	980,498


	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):


	July 31, 2024
	Less Than 12 Months		12 Months or Greater		Total
Asset-backed securities	$	18,826	$	40,041	$	58,867
Certificates of deposit	46,900		—		46,900
Commercial paper	138,598		—		138,598
Corporate bonds	177,081		69,193		246,274
Foreign government bonds	3,756		1,840		5,596
Money market funds	360,881		—		360,881
U.S. Government agency securities	32,605		894		33,499




U.S. Government bonds	75,966		13,917		89,883

Total	$	854,613	$	125,885	$	980,498

Company's financial instruments measured at fair value on a 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):


	July 31, 2024
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Commercial paper	$	—	$	38,156	$	—	$	38,156

Money market funds	360,881		—		—		360,881
Total cash equivalents	360,881		38,156		—		399,037
Short-term investments:
Asset-backed securities	—		18,826		—		18,826
Certificates of deposit	—		46,900		—		46,900
Commercial paper	—		100,442		—		100,442
Corporate bonds	—		177,081		—		177,081
Foreign government bonds	—		3,756		—		3,756
U.S. Government agency securities	—		32,605		—		32,605

U.S. Government bonds	—		75,966		—		75,966
Total short-term investments	—		455,576		—		455,576


Long-term investments:
Asset-backed securities	—		40,041		—		40,041
Corporate bonds	—		69,193		—		69,193



Foreign government bonds	—		1,840		—		1,840
U.S. Government agency securities	—		894		—		894
U.S. Government bonds	—		13,917		—		13,917












Total long-term investments	—		125,885		—		125,885
Total	$	360,881	$	619,617	$	—	$	980,498


	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

Balance Sheet Components (Property and Equipment) (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Property and equipment
Computer hardware	$ 14,182	$ 13,880
Purchased software	5,267	4,671
Capitalized software development costs	66,153	52,163
Equipment and machinery	3,936	3,432
Furniture and fixtures	7,009	6,302
Leasehold improvements	24,596	23,110
Total property and equipment	121,143	103,558
Less accumulated depreciation	(65,734)	(49,059)
Property and equipment, net	$ 55,409	$ 54,499

Fair Value Disclosures (Details Textual) - USD ($) $ in Millions	Jul. 31, 2024	Jul. 31, 2023
Convertible Senior Notes, 1.250% \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 528.0	$ 388.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Jul. 31, 2024	Aug. 30, 2024	Jan. 31, 2024
Cover [Abstract]
Entity Central Index Key	0001528396
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jul. 31, 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.
Entity Address, Address Line Two	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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 6,600.0
Entity Common Stock, Shares Outstanding (in shares)		83,025,888
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement relating to its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this report where indicated. Such Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.

Net Income (Loss) per Share (Details 1) - shares	12 Months Ended
Net Income (Loss) per Share (Details 1) - shares	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding shares of common stock equivalents (in shares)	182,082	11,978	24,206,000
Stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding shares of common stock equivalents (in shares)	3,763,725	2,352,203	1,836,455,000
Convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding shares of common stock equivalents (in shares)	3,516,480	3,516,480	33,417,000

Stock-Based Compensation Expense and Shareholders' Equity (Details 4)	12 Months Ended		36 Months Ended
	Jul. 31, 2023	Jul. 31, 2022	Sep. 13, 2026
Restricted stock units RSUs \| Forecast
Summary of assumptions for fair value of employee stock option estimates
Expected volatility			35.00%
Risk-free interest rate			4.50%
Stock options
Summary of assumptions for fair value of employee stock option estimates
Expected term (in years)	6 years	6 years
Risk-free interest rate	2.90%	3.00%
Risk-free interest rate	4.20%	3.60%
Expected volatility	32.10%	31.80%
Expected volatility	33.10%	31.90%
Expected dividend yield	0.00%	0.00%

Convertible Senior Notes (Details)	1 Months Ended	12 Months Ended
Convertible Senior Notes (Details)	Mar. 31, 2018 USD ($) day shares	Jul. 31, 2024 USD ($) $ / shares	Jul. 31, 2023 USD ($)
Debt Instrument [Line Items]
Principal		$ 400,000,000	$ 400,000,000
Convertible Debt
Debt Instrument [Line Items]
If-converted value in excess of principal		$ 6,800,000	$ 0
Senior Notes \| Convertible Debt
Debt Instrument [Line Items]
Principal	$ 400,000,000.0
Stated interest rate	1.25%
Proceeds from Convertible Debt	$ 387,200,000
Senior Notes \| Convertible Debt \| On or after October 15, 2024
Debt Instrument [Line Items]
Number of shares issuable, per 1,000 principal converted (in shares) \| shares	8.7912
Convertible conversion price (in dollars per share) \| $ / shares		$ 113.75
Senior Notes \| Convertible Debt \| On or after March 20, 2022
Debt Instrument [Line Items]
Debt instrument, redemption. percentage	100.00%
Threshold percentage of stock price trigger	130.00%
Threshold trading days \| day	20
Threshold consecutive trading days \| day	3
Conversion notice period	30 days

Revenue (Customer Contracts) (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Revenue from Contract with Customer [Abstract]
Unbilled accounts receivable, net	$ 91,188	$ 98,864
Contract costs, net	54,689	47,254
Deferred revenue, net	$ 285,483	$ 212,911

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Lessee, Lease, Description [Line Items]
Gain from lease assignment	$ 0	$ (18,419)	$ 0
Gain (Loss) On Derecognition Right-of-Use-Asset	(18,400)
Operating Lease, Right-of-Use-Asset, Derecognition	56,900
Operating Lease, Liability, Derecognition	75,500
Depreciation	6,900	36,300	$ 14,000
Operating lease assets	43,750	52,373
Total lease liability balance	44,016	$ 51,405
Gain (Loss) On Lease Assignment Expenses	(200)
Office Building
Lessee, Lease, Description [Line Items]
Operating lease assets	27,100
Total lease liability balance	19,600
General and Administrative Expense [Member]
Lessee, Lease, Description [Line Items]
Gain from lease assignment	$ 8,500

Income Taxes (Details 3) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Tax effects of temporary differences
Accruals and reserves	$ 27,636	$ 24,899
Stock-based compensation	9,077	8,389
Deferred revenue	711	1,188
Capitalized research and development	110,502	59,332
Lease liabilities	9,908	11,555
Convertible debt	919	2,344
Net operating loss carryforwards	49,864	85,573
Tax credits	145,934	127,209
Total deferred tax assets	354,551	320,489
Less valuation allowance	65,791	59,356
Net deferred tax assets	288,760	261,133
Intangible assets	12,682	10,915
Operating lease assets	9,130	10,927
Property and equipment	184	576
Unremitted foreign earnings	851	931
Capitalized commissions	15,022	13,084
Total deferred tax liabilities	37,869	36,433
Total net deferred tax assets	$ 250,891	$ 224,700

The Company and Summary of Significant Accounting Policies (Details)	Jul. 31, 2024
Computer hardware
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	3 years
Purchased software
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	3 years
Furniture and fixtures
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	5 years
Minimum \| Capitalized software development costs
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	3 years
Minimum \| Equipment and machinery
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	3 years
Maximum \| Capitalized software development costs
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	5 years
Maximum \| Equipment and machinery
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	5 years
Maximum \| Leasehold improvements
Estimated useful lives of property and equipment
Estimated useful lives of property and equipment (in years)	10 years

Balance Sheet Components (Details)	12 Months Ended
Balance Sheet Components (Details)	Jul. 31, 2024 USD ($) investee	Jul. 31, 2023 USD ($)	Jul. 31, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Property and equipment pledged as collateral	$ 0	$ 0
Depreciation expense	6,900,000	36,300,000	$ 14,000,000.0
Accelerated depreciation related to lease assignment	0	26,921,000	0
Amortization	11,600,000	9,900,000	6,300,000
Amortization of intangible assets	$ 5,500,000	6,900,000	14,100,000
Number of investees sold \| investee	1
Sale of strategic investment, total consideration	$ 12,100,000
Sale of strategic investment, cash proceeds	6,553,000	0	0
Sale of strategic investment, equity consideration	5,600,000
Gain on sale of strategic investment	1,803,000	0	0
Acquisition of strategic investments	1,336,000	$ 10,840,000	$ 12,300,000
Rounding
Property, Plant and Equipment [Line Items]
Sale of strategic investment, cash proceeds	6,500,000
Office Building
Property, Plant and Equipment [Line Items]
Accelerated depreciation related to lease assignment	$ 26,900,000

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (6,103)	$ (111,855)	$ (180,431)
Other comprehensive income (loss):
Foreign currency translation adjustments	(1,640)	2,642	(7,201)
Unrealized gain (loss) on available-for-sale securities	4,505	5,377	(8,342)
Tax benefit (expense) on unrealized gain (loss) on available-for-sale securities	(558)	(1,053)	2,009
Reclassification adjustment for realized gain (loss) included in net income (loss)	(693)	(980)	(93)
Total other comprehensive income (loss)	1,614	5,986	(13,627)
Comprehensive income (loss)	$ (4,489)	$ (105,869)	$ (194,058)

- Definition

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

+ References + Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References + Details

- Definition

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

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

+ References

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+ Details

Stock-Based Compensation Expense and Shareholders' Equity (Details 6) - shares	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2021
Stockholders' Equity and Stock-based Compensation [Abstract]
Exercise of stock options to purchase common stock	166,838	187,572	75,706	25,278
Vesting of stock awards	3,202,066	3,414,706
Shares available under stock plans	5,450,102	2,996,441
Total common stock reserved for issuance	8,819,006	6,598,719

The Company and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Estimated useful lives of property and equipment

The estimated useful lives of property and equipment are as follows:


Computer hardware						3 years
Purchased software						3 years
Capitalized software development costs						3 to 5 years
Equipment and machinery						3 to 5 years
Furniture and fixtures						5 years
Leasehold improvements						Shorter of 10 years or remaining lease term

Net Income (Loss) per Share (Tables)

12 Months Ended

Jul. 31, 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 fiscal years ended July 31, 2024, 2023, and 2022 (in thousands, except share and per share amounts):


	Fiscal years ended July 31,
	2024		2023		2022
Numerator:
Net income (loss)	$	(6,103)	$	(111,855)	$	(180,431)
Net income (loss) per share:
Basic and diluted	$	(0.07)	$	(1.36)	$	(2.16)

Denominator:
Weighted average shares used in computing net income (loss) per share:
Basic and diluted	82,291,483		82,176,629		83,569,517

Outstanding antidilutive shares of common stock equivalents

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:


	Fiscal years ended July 31,
	2024	2023	2022
Stock options	182,082	11,978	24,206
Stock awards	3,763,725	2,352,203	1,836,455
Convertible senior notes	3,516,480	3,516,480	33,417

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (6,103)	$ (111,855)	$ (180,431)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	22,309	24,838	33,540
Amortization of debt discount and issuance costs	1,732	1,703	14,391
Amortization of contract costs	17,816	17,966	14,456
Stock-based compensation	146,460	142,842	137,011
Changes to allowance for credit losses and revenue reserves	526	(131)	2,597
Deferred income tax	(26,847)	(27,516)	(54,115)
Amortization of premium (accretion of discount) on available-for-sale securities, net	(12,894)	(4,858)	5,498
Gain on sale of strategic investment	(1,803)	0	0
Changes in fair value of strategic investments	1,957	802	(1,545)
Accelerated depreciation related to lease assignment	0	26,921	0
Gain from lease assignment	0	(18,419)	0
Other non-cash items affecting net income (loss)	(74)	164	63
Changes in operating assets and liabilities:
Accounts receivable	12,631	(7,301)	(42,545)
Unbilled accounts receivable	7,676	(13,435)	18,106
Prepaid expenses and other assets	(33,534)	(22,613)	(23,390)
Operating lease assets	8,623	(19,000)	7,160
Accounts payable	(18,933)	(6,080)	13,580
Accrued employee compensation	6,453	12,440	(8,942)
Deferred revenue	72,572	34,635	31,564
Lease liabilities	(7,389)	9,548	(9,637)
Other liabilities	4,570	(2,256)	4,699
Net cash provided by (used in) operating activities	195,748	38,395	(37,940)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale securities	(615,935)	(506,115)	(519,536)
Maturities and sales of available-for-sale securities	576,886	547,094	908,914
Purchases of property and equipment	(6,362)	(5,821)	(9,510)
Capitalized software development costs	(12,165)	(11,606)	(12,266)
Acquisition of strategic investments	(1,336)	(10,840)	(12,300)
Acquisition of strategic investments			(11,560)
Sale of strategic investment	6,553	0	0
Acquisition of business, net of acquired cash	0	0	(43,830)
Net cash provided by (used in) investing activities	(52,359)	12,712	312,212
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock upon exercise of stock options	1,055	228	116
Repurchase and retirement of common stock	0	(261,807)	(37,451)
Net cash provided by (used in) financing activities	1,055	(261,579)	(37,335)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(2,050)	2,576	(7,161)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	142,394	(207,896)	229,776
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period	406,790	614,686	384,910
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period	549,184	406,790	614,686
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	5,000	5,000	5,000
Cash paid for income taxes, net of tax refunds	8,919	5,167	4,323
Accruals for purchase of property and equipment	682	1,136	1,114
Accruals for capitalized cloud software development costs	$ 920	$ 1,094	$ 1,250

Commitments and Contingencies (Tables)

12 Months Ended

Jul. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Future commitments and obligations under the operating leases

The Company’s contractual obligations and commitments as of July 31, 2024 are as follows (in thousands):


	Purchase Commitments(1)		Debt(2)		Total
Fiscal Year Ending July 31,
2025	$	169,512	$	405,000	$	574,512
2026	154,779		—		154,779
2027	145,981		—		145,981
2028	34,863		—		34,863
2029 and thereafter	2		—		2

Total	$	505,137	$	405,000	$	910,137

(1) Purchase commitments represent royalty obligations and commitments to purchase goods and services, entered into in the ordinary course of business, for which a penalty could be imposed if the agreement was cancelled for any reason other than an event of default as described by the agreement. During fiscal year 2023, the

Company entered into an agreement with a cloud infrastructure services provider for a total obligation of $600 million over a five-year period. Purchase commitments do not include lease obligations (refer to Note 7).

(2) Debt consists of principal and interest payments on the Company’s Convertible Senior Notes. The $400 million in principal will be due in March 2025.

Convertible Senior Notes (Schedule of Net Carrying Value) (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Debt Disclosure [Abstract]
Principal	$ 400,000	$ 400,000
Less unamortized:
Debt issuance costs	1,097	2,829
Net carrying amount	$ 398,903	$ 397,171

- Definition

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

+ References + Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Additional paid-in capital	Additional paid-in capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive income (loss)	Retained earnings (accumulated deficit)	Retained earnings (accumulated deficit) Cumulative Effect, Period of Adoption, Adjustment	Common stock Common stock
Balance (in shares) at Jul. 31, 2021								83,194,157
Balance, beginning at Jul. 31, 2021	$ 1,544,894		$ 1,617,204		$ (6,218)	$ (66,100)		$ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (180,431)					(180,431)
Issuance of common stock upon exercise of stock options (in shares)	10,472							10,472
Issuance of common stock upon exercise of stock options	$ 116		116
Issuance of common stock upon RSU release (in shares)								1,202,125
Stock-based compensation	138,156		138,156
Repurchase and retirement of common stock	(7,201)				(7,201)
Foreign currency translation adjustment	(6,333)				(6,333)
Unrealized gain (loss) on available-for-sale securities, net of tax	(93)				(93)
Repurchase and retirement of common stock (in shares)								(322,545)
Repurchase and retirement of common stock	(37,451)					(37,451)
Balance (in shares) at Jul. 31, 2022								84,084,209
Balance, ending at Jul. 31, 2022	$ 1,451,657	$ (28,309)	1,755,476	$ (68,003)	(19,845)	(283,982)	$ 39,694	$ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06 [Member]
Net income (loss)	$ (111,855)					(111,855)
Issuance of common stock upon exercise of stock options (in shares)	6,582							6,582
Issuance of common stock upon exercise of stock options	$ 228		228
Issuance of common stock upon RSU release (in shares)								1,391,162
Stock-based compensation	143,566		143,566
Repurchase and retirement of common stock	2,642				2,642
Foreign currency translation adjustment	4,324				4,324
Unrealized gain (loss) on available-for-sale securities, net of tax	(980)				(980)
Repurchase and retirement of common stock (in shares)								(4,041,284)
Repurchase and retirement of common stock	(261,807)					(261,807)
Balance (in shares) at Jul. 31, 2023								81,440,669
Balance, ending at Jul. 31, 2023	1,199,466		1,831,267		(13,859)	(617,950)		$ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (6,103)					(6,103)
Issuance of common stock upon exercise of stock options (in shares)	15,517							15,517
Issuance of common stock upon exercise of stock options	$ 1,054		1,054
Issuance of common stock upon RSU release (in shares)								1,569,451
Stock-based compensation	146,700		146,700
Repurchase and retirement of common stock	(1,640)				(1,640)
Foreign currency translation adjustment	3,948				3,948
Unrealized gain (loss) on available-for-sale securities, net of tax	(693)				(693)
Balance (in shares) at Jul. 31, 2024								83,025,637
Balance, ending at Jul. 31, 2024	$ 1,342,732		$ 1,979,021		$ (12,244)	$ (624,053)		$ 8

Segment Information (Details 1) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Property and equipment, net by geographic region
Property and equipment, net	$ 99,159	$ 106,872
Americas
Property and equipment, net by geographic region
Property and equipment, net	69,004	72,089
EMEA
Property and equipment, net by geographic region
Property and equipment, net	26,192	29,792
APAC
Property and equipment, net by geographic region
Property and equipment, net	$ 3,963	$ 4,991

Balance Sheet Components (Intangible Assets) (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	2 years
Cost	$ 36,400	$ 36,400
Accumulated Amortization	27,395	21,927
Total future amortization expense	$ 9,005	14,473
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	2 years 1 month 6 days
Cost	$ 9,700	9,700
Accumulated Amortization	5,726	3,786
Total future amortization expense	$ 3,974	5,914
Customer contracts and related relationships
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	1 year 8 months 12 days
Cost	$ 23,100	23,100
Accumulated Amortization	18,694	15,674
Total future amortization expense	$ 4,406	7,426
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	8 months 12 days
Cost	$ 200	200
Accumulated Amortization	185	163
Total future amortization expense	$ 15	37
Trademarks
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (in years)	3 years 6 months
Cost	$ 3,400	3,400
Accumulated Amortization	2,790	2,304
Total future amortization expense	$ 610	$ 1,096

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2022
Numerator:
Net income (loss)	$ (6,103)	$ (111,855)	$ (180,431)
Net income per share:
Basic (in USD per share)	$ (0.07)	$ (1.36)	$ (2.16)
Diluted (in USD per share)	$ (0.07)	$ (1.36)	$ (2.16)
Weighted average shares used in computing net income per share:
Basic (in shares)	82,291,483	82,176,629	83,569,517
Diluted (in shares)	82,291,483	82,176,629	83,569,517

- Definition

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

+ References

+ 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

+ Details

- Definition

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

+ References

+ Details

Income Taxes (Tables)

12 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

Company's income (loss) before provision for income taxes

The Company’s income (loss) before provision for (benefit from) income taxes is as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Domestic	$	(44,280)	$	(150,628)	$	(239,601)
International	17,442		16,534		9,886
Income (loss) before provision for (benefit from) income taxes	$	(26,838)	$	(134,094)	$	(229,715)

Schedule of Components of Income Tax Expense

The provision for (benefit from) income taxes consisted of the following (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Current:
U.S. Federal	$	738	$	555	$	1,937
State	1,710		564		43
Foreign	3,563		3,904		1,852
Total current	6,011		5,023		3,832
Deferred:
U.S. Federal	(22,856)		(23,372)		(48,775)
State	(3,396)		(3,808)		(5,656)
Foreign	(494)		(82)		1,315
Total deferred	(26,746)		(27,262)		(53,116)
Total provision for (benefit from) income taxes	$	(20,735)	$	(22,239)	$	(49,284)

Effective Income Tax Rate Reconciliation

Differences between income taxes calculated using the statutory federal income tax rate of 21% and the provision for income taxes are as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022
Statutory federal income tax	$	(5,634)	$	(28,159)	$	(48,240)
State taxes, net of federal benefit	(1,702)		(3,253)		(5,613)
Stock-based compensation	(4,415)		9,902		2,912
Non-deductible officers' compensation	4,996		2,783		4,484
Foreign income taxed at different rates	(960)		(55)		(365)
Research tax credits	(12,067)		(7,817)		(6,820)
Base erosion and anti-abuse tax	(3,091)		(935)		349
Foreign earnings taxed in the U.S.	2,390		2,199		1,201
Non-deductible acquisition costs	30		617		744

Permanent differences and others	1,254		1,576		476
Change in valuation allowance	491		903		1,588
Foreign derived intangible income	(2,027)		—		—
Total provision for (benefit from) income taxes	$	(20,735)	$	(22,239)	$	(49,284)

Tax effects of temporary differences

The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities are as follows (in thousands):


	As of July 31,
	2024		2023
Accruals and reserves	$	27,636	$	24,899
Stock-based compensation	9,077		8,389
Deferred revenue	711		1,188
Capitalized research and development	110,502		59,332
Lease liabilities	9,908		11,555
Convertible debt	919		2,344
Net operating loss carryforwards	49,864		85,573
Tax credits	145,934		127,209
Total deferred tax assets	354,551		320,489
Less valuation allowance	65,791		59,356
Net deferred tax assets	288,760		261,133
Less deferred tax liabilities:
Intangible assets	12,682		10,915
Operating lease assets	9,130		10,927
Property and equipment	184		576

Unremitted foreign earnings	851		931
Capitalized commissions	15,022		13,084
Total deferred tax liabilities	37,869		36,433
Total net deferred tax assets	$	250,891	$	224,700

Net operating loss carryforwards

As of July 31, 2024, the Company had research and development tax credit (“R&D credit”) carryforwards of the following (in thousands):


U.S. Federal	$	82,470
California	62,878
Total R&D credit carryforwards	$	145,348

Summary of activity related to unrecognized tax benefits

Activity related to unrecognized tax benefits is as follows (in thousands):


	Fiscal years ended July 31,
	2024		2023		2022

Unrecognized tax benefits - beginning of period	$	20,518	$	18,786	$	17,138
Gross increases - prior period tax positions	231		1		147
Gross decreases - prior period tax positions	(2,664)		(982)		—
Gross increases - current period tax positions	3,435		2,713		1,501

Unrecognized tax benefits - end of period	$	21,520	$	20,518	$	18,786

Commitments and Contingencies

12 Months Ended

Jul. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The Company’s contractual obligations and commitments as of July 31, 2024 are as follows (in thousands):


	Purchase Commitments(1)		Debt(2)		Total
Fiscal Year Ending July 31,
2025	$	169,512	$	405,000	$	574,512
2026	154,779		—		154,779
2027	145,981		—		145,981
2028	34,863		—		34,863
2029 and thereafter	2		—		2

Total	$	505,137	$	405,000	$	910,137

(2) Debt consists of principal and interest payments on the Company’s Convertible Senior Notes. The $400 million in principal will be due in March 2025.

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 July 31, 2024 and 2023, respectively. The Company has not accrued for estimated losses in the accompanying 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. 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 July 31, 2024 and 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.

Segment Information

12 Months Ended

Jul. 31, 2024

Segment Reporting [Abstract]

Segment Information

The Company operates in one segment. The Company’s chief operating decision maker (the “CODM”), its Chief Executive Officer, manages the Company’s operations on a consolidated basis for purposes of allocating resources. When evaluating the Company’s financial performance, the CODM reviews separate revenue information for the Company’s subscription, support, term license, perpetual license, and services offerings, as well as revenue by geographic region, while all other financial information is reviewed on a consolidated basis. The Company’s principal operations and decision-making functions are located in the United States.

The Company’s long-lived assets for this disclosure are defined as property and equipment and operating lease assets. The Company’s long-lived assets by geographic region are as follows (in thousands):


	July 31, 2024		July 31, 2023
Americas	$	69,004	$	72,089
EMEA	26,192		29,792
APAC	3,963		4,991
Total	$	99,159	$	106,872

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

The Company and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jul. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 which combines core operations, digital engagement, analytics, machine learning, and artificial intelligence (“AI”) applications. The Company’s technology platform supports 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.

Basis of Presentation and Consolidation

The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The 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 periods presented. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events that affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Significant items subject to such estimates include, but are not limited to, revenue recognition, the useful lives of property and equipment and intangible assets, accounts receivable and unbilled accounts receivable allowances, valuation allowance for deferred tax assets, stock-based compensation, annual bonus attainment, income tax uncertainties, fair value of convertible senior notes and investments, valuation of goodwill and intangible assets, fair value of acquired assets and assumed liabilities, software development costs to be capitalized, leases, and contingencies. These estimates and assumptions are based on management’s best estimates and judgment. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ from these estimates.

Foreign Currency

The functional currency of the Company’s foreign subsidiaries is their respective local currency. The Company translates all assets and liabilities of foreign subsidiaries to U.S. dollars at the current exchange rate as of the applicable balance sheet date. Revenue and expenses are translated at the average exchange rate prevailing during the period in which the transactions occur. The effects of foreign currency translations are recorded in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity in the accompanying consolidated balance sheets. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency of the recording entity are included in other income (expense) in the consolidated statements of operations.

Cash and Cash Equivalents

Cash and cash equivalents are comprised of cash and highly liquid investments with remaining maturities of 90 days or less at the date of purchase. Cash equivalents primarily consist of commercial paper and money market funds.

Restricted Cash

Unearned acquisition consideration holdback subject to service conditions is held in escrow and considered restricted cash. At July 31, 2024 and 2023, unearned acquisition consideration holdback of $1.2 million and $2.9 million, respectively, was included in prepaid expenses and other current assets in the consolidated balance sheets. At July 31, 2024, there was no unearned acquisition holdback included in other assets in the consolidated balance sheets. At July 31, 2023, unearned acquisition holdback of $2.1 million was included in other assets in the consolidated balance sheets.

Investments

Management determines the appropriate classification of investments at the time of purchase based upon management’s intent with regard to such investments. All investments in the periods presented have been classified as available-for-sale.

The Company classifies investments as short-term when they have remaining contractual maturities of one year or less from the balance sheet date, and as long-term when the investments have remaining contractual maturities of more than one year from the balance sheet date. Investments are recorded at fair value with unrealized holding gains and losses, net of taxes, generally included in accumulated other comprehensive income (loss). Unrealized losses related to the credit worthiness of an investment, if any, are recorded in other income (expense), net on the consolidated statements of operations.

Property and Equipment

Property, Equipment, and Software Development Costs

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Maintenance and repairs that do not extend the life or improve an asset are expensed in the period incurred.

The estimated useful lives of property and equipment are as follows:


Computer hardware						3 years
Purchased software						3 years
Capitalized software development costs						3 to 5 years
Equipment and machinery						3 to 5 years
Furniture and fixtures						5 years
Leasehold improvements						Shorter of 10 years or remaining lease term

Software Development Costs

Certain development costs related to software delivered to customers (“self-managed software”) incurred subsequent to the establishment of technological feasibility are subject to capitalization and amortized over the estimated lives of the related products. Technological feasibility is established upon completion of a working model. Costs incurred subsequent to the establishment of technological feasibility have not been material and, therefore, all software development costs related to self-managed software have been charged to research and development expense in the accompanying consolidated statements of operations as incurred.

The Company capitalizes software development costs for technology applications that provide new or significantly enhanced functionality that the Company will offer solely as a cloud-based subscription. Capitalized costs are primarily comprised of compensation for employees who are directly associated with cloud software development projects. The Company begins to capitalize costs when preliminary development efforts are successfully completed, management has authorized and committed project funding, it is probable that the project will be completed, and the software will be used as intended. If any of these criteria cease being met before the software reaches its intended use, any capitalized costs related to the project will be impaired. When the software reaches its intended use, which is typically once the technology applications are available for general release, capitalized costs are amortized to cost of revenue over the estimated useful lives of the related assets, generally estimated to be three to five years. Costs incurred prior to meeting these capitalization criteria and costs incurred for training and maintenance are recorded as research and development expense in the Company’s consolidated statements of operations. Capitalized software development costs are recorded in property and equipment in the Company’s consolidated balance sheets.

Leases

The Company accounts for leases under Accounting Standards Codification Topic 842: Leases (“ASC 842”) issued by the Financial Accounting Standards Board. Under ASC 842, the Company determines if an arrangement is a lease at inception of the agreement. If an arrangement is determined to be a lease, an operating lease asset, also known as a right-of-use asset, and lease liability are recorded based on the present value of lease payments over the non-cancellable lease term. In connection with determining the present value of the lease payments, the Company considers only payments that are fixed and determinable at the time of commencement, including non-lease components that are fixed throughout the lease term. Variable components of the lease payments, such as utilities, maintenance, and taxes, are expensed as incurred and not included in determining the present value of the lease liability. As the Company's leases generally do not provide an implicit rate, the Company's incremental borrowing rate, calculated based on available information at the lease commencement date, is used in determining the present value of the lease payments. The Company's incremental borrowing rate is a hypothetical rate based on the Company's understanding of its credit rating. The lease term used to calculate the lease liability and operating lease asset includes options to extend or terminate the lease if it is reasonably certain the Company will exercise that option. Operating lease assets also include any lease payments made prior to commencement and are recorded net of any lease incentives received. Lease expense is recognized on a straight-line basis over the lease term and is reflected in the consolidated statements of operations in each of the cost of revenue and operating expense categories.

The Company may also enter into agreements to sublease unoccupied office space. Any sublease payments received in excess of the straight-line rent expense related to the subleased space are recorded as an offset to operating expenses over the sublease term.

Operating leases are included in operating lease assets, other current liabilities, and lease liabilities on the consolidated balance sheets.

Impairment of Long-Lived Assets, Intangible Assets and Goodwill

Impairment of Long-Lived Assets, Intangible Assets, and Goodwill

The Company evaluates its long-lived assets, consisting of property and equipment, operating lease assets, and intangible assets, for indicators of possible impairment when events or changes in circumstances indicate that the carrying amount of certain assets may not be recoverable. Impairment exists if the carrying amount of such assets exceed the estimates of future net undiscounted cash flows expected to be generated by such assets. Should impairment exist, the impairment loss would be measured based on the excess carrying amount of the assets over the estimated fair value of the assets. There have been no long-lived asset impairments during the periods presented.

The Company tests goodwill for impairment annually, during the fourth quarter of each fiscal year, and in the interim whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company evaluates qualitative factors to determine whether it is more likely than not that the fair value of the Company’s single reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the goodwill impairment test. In performing the qualitative assessment, the Company considers events and circumstances, including, but not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, changes in customers, changes in the composition or carrying amount of a reporting unit’s net assets, and changes in the price of the Company’s common stock. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then the goodwill impairment test is not performed. There have been no goodwill impairments during the periods presented.

Convertible Senior Notes

In March 2018, the Company issued $400.0 million aggregate principal amount of 1.25% Convertible Senior Notes due March 2025 (the “Convertible Senior Notes”). Prior to the adoption of ASU 2020-06 on August 1, 2022, upon the issuance of the Convertible Senior Notes, the Company separated the Convertible Senior Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that did not have an associated convertible feature. The carrying amount of the equity component, representing the conversion option, was determined by deducting the fair value of the liability component from the par value of the Convertible Senior Notes as a whole. The difference between the principal amount of the Convertible Senior Notes and the liability component was initially recorded as a debt discount and was amortized as interest expense using the effective interest method over the term of the Convertible Senior Notes.

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 consolidated balance sheets are in excess of amounts that are insured by the Federal Deposit Insurance Corporation.

No customer individually accounted for 10% or more of the Company’s revenue for the years ended July 31, 2024, 2023, and 2022. As of July 31, 2024, one customer accounted for 10% or more of the Company’s total accounts receivable. As of July 31, 2023, no customer accounted for 10% or more of the Company’s total accounts receivable.

Accounts Receivable and Allowances

Accounts receivable are recorded at invoiced amounts and do not bear interest. While the Company does not require collateral, the Company performs ongoing credit evaluations of its customers. The Company maintains an allowance for credit losses based upon the expected collectability of its accounts receivable and unbilled accounts receivable. The expectation of collectability is based on historical loss patterns, the number of days that billings are past due, and an evaluation of the potential risk of loss associated with delinquent accounts. Credit losses are recorded in general and administrative expense while billing and other revenue adjustments are recorded against the corresponding revenue financial statement line item in the consolidated statements of operations.

Revenue Recognition

The Company’s revenue is derived from contracts with customers. The majority of the Company’s revenue is derived from subscriptions to its cloud services, licensing arrangements for its software, and implementation and other professional services arrangements. The Company accounts for revenue in accordance with Accounting Standards Codification 606, Revenue from

Contracts with Customers (“ASC 606”). The core principle of ASC 606 is to recognize revenue upon the transfer of products to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. When using the term “products,” the Company is generally referring to both our subscription services and term license software.

Identification of the contract, or contracts, with the customer

The Company considers the terms and conditions of written contracts and its customary business practices in identifying its contracts. The Company determines it has a contract with a customer when the contract is approved, the Company can identify each party’s rights regarding the products to be transferred, the Company can identify the payment terms for the products, the Company has determined that the customer has the ability and intent to pay, and the contract has commercial substance. In general, contract terms will be reflected in a written document that is signed by both parties. At contract inception, the Company evaluates whether two or more contracts with the same customer should be combined and accounted for as a single contract. The customer’s ability and intent to pay is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer.

Contracts may be modified to account for changes in contract scope or price. The Company considers contract modifications to exist when the modification either creates new rights or obligations or changes the existing enforceable rights and obligations of either party. Contract modifications for products that are distinct from the existing contract and are priced commensurate with their standalone selling price are treated as separate contracts, and are accounted for prospectively. Contract modifications for products that are distinct but are not priced commensurate with their standalone selling price or are not distinct from the existing contract may affect the initial transaction price or the allocation of the transaction price to the performance obligations in the contract. In such cases, recognized revenue may be adjusted.

Identification of the performance obligation in the contract

Performance obligations promised in a contract are identified based on the services or products that will be transferred to the customer that are both:

i.capable of being distinct, whereby the customer can benefit from the service or product either on its own or together with other resources that are readily available from the Company or third parties, and

ii.distinct in the context of the contract, whereby the transfer of the services or products is separately identifiable from other promises in the contract.

To the extent a contract includes multiple promised services or products, the Company applies judgment to determine whether promised services or products are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised services or products are accounted for as a combined performance obligation.

The Company generates revenue from the following sources, which represent the performance obligations of the Company:

i.Subscription services related to the Company’s Software-as-a-Service (“SaaS”) offerings, including hosting;

ii.Support activities that consist of email and phone support, bug fixes, and unspecified software updates and upgrades released when, and if, available during the support term;

iii.Self-managed software licenses related to term or perpetual agreements; and

iv.Services related to the implementation and configuration of the Company’s products, reimbursable travel, and training.

Subscriptions are typically sold with a three to five-year initial term with a customer option to renew on an annual basis after the initial term. Term licenses have an initial term with a customer option to renew on an annual basis after the initial term. The Company will enter into term licenses with an initial term of two or more years or a renewal period longer than one year. Support for term licenses follows the same contract periods. Professional services typically are time and materials contracts that last for an average period of approximately one year.

Determination of the transaction price

The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products to the customer. Consideration may vary due to discounts, incentives, and potential service level credits or contractual penalties. Variable consideration is estimated and included in the transaction price if, in the Company’s judgment, it is probable that there will not be a significant future reversal of cumulative revenue under the contract.

Self-managed software licenses and subscription services may be subject to either fixed or variable installments. Variable installments are generally subject to changes in a customer’s Direct Written Premium (“DWP”) or a customer’s Gross Written Premium (“GWP”). When consideration is subject to variable installments, the Company estimates variable consideration using the expected value method based on historical DWP or GWP usage to the extent that a significant revenue reversal is not probable to occur.

The Company elected the practical expedient to evaluate whether a significant financing component exists when the contract term is greater than one year and the timing of revenue recognition occurs in advance of invoicing. This timing difference occurs when control of the software license is transferred at a point in time, usually at the contract onset, but the customer payments occur over time. This timing difference can also occur when subscription services have significant ramps in the annual invoice amount over the committed term. A significant financing component generally does not exist under the Company’s standard contracting and billing practices. For example, the Company’s time-based licenses with a two-year initial term have the final payment due at the end of the first year and the Company’s subscription services are generally billed in advance of providing the services.

Allocation of the transaction price to the performance obligations in the contract

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on its standalone selling price (“SSP”) in relation to the total fair value of all performance obligations in the arrangement. Some of the Company’s performance obligations, such as support, implementation services, training services, and a portion of software-as-a-service offerings, have observable inputs that are used to determine the SSP of those distinct performance obligations. Where SSP is not directly observable, the Company determines the SSP using information that may include market conditions and other observable inputs. In circumstances when available information to determine SSP is highly variable or uncertain, such as for our term licenses, the Company will use the residual method.

The majority of the Company’s contracts contain multiple performance obligations, such as when licenses are sold with support, implementation services, or training services. Additionally, as customers enter into subscription agreements to migrate from an existing term license agreement, customers may be under contract for self-managed licenses and support, in addition to subscription services, for a period of time, which may require an allocation of the transaction price to each performance obligation. New and migration subscription agreements also typically include implementation, configuration, and training services, which may require an allocation of the transaction price to each performance obligation.

Recognition of revenue when, or as, the Company satisfies a performance obligation

The Company recognizes revenue when control of the services or products is transferred to a customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services or products. The Company is principally responsible for the satisfaction of its distinct performance obligations, which are satisfied either at a point in time or over a period of time.

Performance obligations satisfied at a point in time

Self-managed term and perpetual software licenses comprise the majority of distinct performance obligations that are satisfied at a point in time. Revenue is recognized at the point in which the self-managed software licenses are made available to a customer. Consideration for self-managed software licenses is typically billed in advance on an annual basis over the license term.

Performance obligations satisfied over a period of time

Subscriptions, support activities, and professional service arrangements comprise the majority of distinct performance obligations that are satisfied over a period of time.

Revenue from subscription arrangements is recognized ratably over the subscription period using a time-based measure of progress as customers receive the benefits from their subscriptions over the contractually agreed-upon term. The Company’s subscription arrangements are generally three to five years in duration. Consideration for subscription arrangements is typically billed in advance on an annual basis over the contract period and the annual billing may ramp over the contract period.

Revenue from support activities associated with self-managed licenses is a stand-ready obligation, which is generally recognized over the contractually agreed-upon term using a time-based measure of progress as customers receive benefits from the availability of support technicians over the support period. Consideration for support activities is typically billed in advance on an annual basis. The Company’s support activities are consistently priced as a percentage of the associated self-managed software license.

Revenue from professional service arrangements is recognized over the service period as the underlying services are performed.

In substantially all of the Company’s professional service contracts, services are separately identifiable performance obligations for which related revenue and costs are recognized according to when each service obligation is delivered. Substantially all professional services engagements are billed and recognized on a time and materials basis. In select situations, the Company will contract professional services on a fixed fee basis, where the Company generally recognizes services revenue over time, using an input method. The measure of progress of the professional services being provided under these fixed fee arrangements is based on hours incurred compared to estimates of the total hours to complete the performance obligation.

When professional services are sold with a self-managed license or subscription arrangement, the Company evaluates whether the performance obligations are distinct or separately identifiable, or whether they constitute a single performance obligation.

Balance Sheet Presentation

Contracts with customers are reflected in the consolidated balance sheets as follows:

•Accounts receivable, net represents amounts billed to customers in accordance with contract terms for which payment has not yet been received. It is presented net of any allowances as part of current assets in the consolidated balance sheets.

•Unbilled accounts receivable, net represents amounts that are unbilled due to agreed-upon contractual terms in which billing occurs subsequent to revenue recognition. This situation typically occurs when the Company transfers control of self-managed software licenses to customers up-front, but invoices customers annually over the term of the license. Additionally, subscription agreements with ramped billing schedules could result in unbilled accounts receivable in the early years of the committed term. Unbilled accounts receivable is classified as either current or non-current based on the duration of remaining time between the date of the consolidated balance sheets and the anticipated due date of the underlying receivables. Unbilled accounts receivable is evaluated for credit losses based upon the expected collectibility of future accounts receivable, customer payment history, global economic conditions, and ongoing credit evaluations of customers. Unbilled accounts receivable is presented net of allowance for credit losses, if applicable, in the consolidated balance sheets. This balance represents contract assets.

•Contract costs include customer acquisition costs, which consist primarily of sales commissions and related payroll taxes paid to sales personnel and referral fees paid to third-parties, and costs to fulfill a contract, which consist primarily of royalties payable to third-party software providers that support both the Company’s software offerings and support services. The short-term portion is presented as prepaid and other current assets. The long-term portion is presented as other assets.

•Deferred costs represent costs related to our professional services that have been deferred to align with revenue recognition. The short-term portion is presented as prepaid and other current assets. The long-term portion is presented as other assets.

•Deferred revenue, net represents amounts that have been invoiced and for which the Company has the right to bill, but that have not been recognized as revenue because the related services or products have not been transferred to the customer. Deferred revenue consists primarily of subscriptions and support services that are billed annually in advance but recognized over time. Deferred revenue that will be realized during the 12-month period following the date of the consolidated balance sheets is recorded as current. The remaining deferred revenue is recorded as non-current. These balances represent contract liabilities.

The Company may receive consideration from its customers in advance of performance on a portion of the contract, thereby creating a contractual liability, and, on another portion of the contract, perform in advance of receiving consideration, thereby creating a contractual asset. Contract assets and liabilities related to rights and obligations in a contract are interdependent. Therefore, contract assets and liabilities are presented net at the contract level, as either a single contract asset or a single contract liability, in the consolidated balance sheets.

Remaining performance obligations represent contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. The Company excludes amounts related to professional services contracts that are on a time and materials basis from remaining performance obligations.

Contract Costs

Contract costs consist of two components: customer acquisition costs and costs to fulfill a contract.

Customer acquisition costs are capitalized only if the costs are incrementally incurred to obtain a customer contract and the expected amortization period is greater than one year. Contract costs are classified as either current or non-current based on the duration of time remaining between the date of the consolidated balance sheets and the anticipated amortization date of the associated costs. Capitalized customer acquisition costs related to software licenses, subscriptions, and support services are amortized over the anticipated period in which the benefit is expected to be received, which the Company estimates to be approximately five years. The amortization of customer acquisition costs is classified as a sales and marketing expense in the consolidated statement of operations.

Costs to fulfill a contract, or fulfillment costs, are only capitalized if they relate directly to a contract with a customer, the costs generate or enhance resources that will be used to satisfy performance obligations in the future, and the costs are expected to be recoverable. Fulfillment costs would be generally amortized over the same period of time as the customer acquisition costs. The amortization of fulfillment costs is classified as a cost of revenue in the consolidated statement of operations.

Warranties

The Company generally provides a warranty for its software services and products to its customers for periods ranging from three to 12 months. The Company’s software products are generally warranted to be free of defects in materials and workmanship under normal use and to substantially perform as described in published documentation. The Company’s services are generally warranted to be performed in a professional manner and to materially conform to the specifications set forth in the related customer contract. In the event there is a failure of such warranties, the Company generally will correct the problem or provide a reasonable workaround or replacement product. If the Company cannot correct the problem or provide a workaround or replacement product, then the customer’s remedy is generally limited to a refund of the fees paid for the non-conforming products or services. Warranty expense has been insignificant to date.

Advertising Costs

Advertising costs are expensed as incurred and amounts incurred were less than $0.3 million, during the years ended July 31, 2024, 2023, and 2022, respectively.

Stock-Based Compensation

The Company accounts for stock-based compensation using the fair value method, which requires the Company to measure stock-based compensation based on the grant-date fair value of the awards and recognize the compensation expense over the requisite service period. The Company recognizes compensation expense net of actual forfeitures. The Company has granted stock options, time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). RSUs and PSUs are collectively referred to as “Stock Awards.”

The fair value of the Company’s RSUs and PSUs is equal to the market value of the Company’s common stock on the date of grant. These awards are subject to time-based vesting, which generally occurs over a period of three to four years. The Company recognizes compensation expense for awards that contain only service conditions on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. The Company recognizes the compensation cost for awards that contain performance conditions using the graded vesting method and a portion of the expense may fluctuate depending on changing estimates of the achievement of the performance conditions.

The fair value of the Company’s stock options is estimated at the grant date using the Black-Scholes option-pricing model. Recently granted stock options are subject to time-based vesting, which generally occurs over a period of two years. The Company recognizes compensation expense for stock options that contain only service conditions on a straight-line basis over the requisite service period, which is generally the vesting period of the respective stock options. The inputs used in the Black-Scholes option-pricing model, which are subjective and generally requires significant judgment to determine, include:

Expected Term — The expected term represents the period that the stock-based awards are expected to be outstanding. The simplified method calculates the expected term as the average of the time-to-vesting and the contractual life of the options. The Company uses the simplified method to determine its expected term because of its limited history of stock option exercise activity.

Expected Volatility — The expected volatility is derived from the historical volatility of the Company’s common stock.

Risk-Free Interest Rate — The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the expected term of the options.

Expected Dividend — The expected dividend is zero, as the Company has never paid dividends and has no expectations to do so.

Income Taxes

Income taxes are accounted for under the asset and liability method. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. All deferred tax assets and liabilities are classified as non-current on the Company’s consolidated balance sheets. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded when it is more likely than not that some portion or all of such deferred tax assets will not be realized and is based on both positive and negative evidence about the future, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations.

The effective tax rate in any given financial statement period may differ materially from the statutory rate. These differences may be caused by changes in tax regulations and resulting changes in the deferred tax valuation allowance; changes in the mix and level of income or losses; changes in the expected outcome of tax audits; permanent differences for stock-based compensation, including excess tax benefits; research and development credits; the tax rate differences between the United States and foreign countries; foreign withholding taxes; certain non-deductible expenses, including executive compensation; acquisition-related expenses; and provisions under the Tax Cuts and Jobs Act of 2017 (the “Tax Act”), including a provision to tax global intangible low-taxed income of foreign subsidiaries, a special deduction for foreign-derived intangible income, and a base erosion anti-abuse tax that may tax certain payments between a U.S. corporation and its foreign subsidiaries.

The Company records interest and penalties related to unrecognized tax benefits as income tax expense in its consolidated statement of operations.

Recently Adopted 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.

Net Income (Loss) per Share

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 options to purchase common stock and Stock Awards, the Company uses the treasury stock method for calculating diluted earnings per share in all periods presented. Effective August 1, 2022, the Company adopted ASU 2020-06 which requires the use of the if-converted method for the Convertible Senior Notes. During fiscal year 2022, the Company used the treasury stock method for the Convertible Senior Notes.

The Company and Summary of Significant Accounting Policies and Estimates

12 Months Ended

Jul. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Company and Summary of Significant Accounting Policies and Estimates

Company

Basis of Presentation and Consolidation

Use of Estimates

Foreign Currency

Cash and Cash Equivalents

Restricted Cash

Investments

Property, Equipment, and Software Development Costs

The estimated useful lives of property and equipment are as follows:


Computer hardware						3 years
Purchased software						3 years
Capitalized software development costs						3 to 5 years
Equipment and machinery						3 to 5 years
Furniture and fixtures						5 years
Leasehold improvements						Shorter of 10 years or remaining lease term