Nutanix (NTNX) 10-Q 5 Dec 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Oct. 31, 2024	Nov. 30, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2024
Document Transition Report	false
Entity File Number	001-37883
Entity Registrant Name	NUTANIX, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0989767
Entity Address, Address Line One	1740 Technology Drive, Suite 150
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95110
City Area Code	(408)
Local Phone Number	216-8360
Title of 12(b) Security	Class A Common Stock, $0.000025 par value per share
Trading Symbol	NTNX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		267,928,246
Entity Central Index Key	0001618732
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Current assets:
Cash and cash equivalents	$ 716,604	$ 655,270
Short-term investments	358,846	339,072
Accounts receivable, net of allowances of $772 and $855, respectively	198,582	229,796
Deferred commissions—current	150,975	159,849
Prepaid expenses and other current assets	98,452	97,307
Total current assets	1,523,459	1,481,294
Property and equipment, net	132,455	136,180
Operating lease right-of-use assets	118,593	109,133
Deferred commissions—non-current	188,364	198,962
Intangible assets, net	4,298	5,153
Goodwill	185,235	185,235
Other assets—non-current	28,947	27,961
Total assets	2,181,351	2,143,918
Current liabilities:
Accounts payable	44,698	45,066
Accrued compensation and benefits	164,670	195,602
Accrued expenses and other current liabilities	18,968	24,967
Deferred revenue—current	968,642	954,543
Operating lease liabilities—current	23,621	24,163
Total current liabilities	1,220,599	1,244,341
Deferred revenue—non-current	925,743	918,163
Operating lease liabilities—non-current	100,409	90,359
Convertible senior notes, net	570,458	570,073
Other liabilities—non-current	49,438	49,130
Total liabilities	2,866,647	2,872,066
Commitments and contingencies (Note 7)
Stockholders’ deficit:
Common stock, par value of $0.000025 per share-1,000,000 Class A shares authorized as of July 31, 2024 and October 31, 2024; 265,181 and 267,845 Class A shares issued and outstanding as of July 31, 2024 and October 31, 2024, respectively	7	7
Additional paid-in capital	4,145,942	4,118,898
Accumulated other comprehensive income	559	146
Accumulated deficit	(4,831,804)	(4,847,199)
Total stockholders’ deficit	(685,296)	(728,148)
Total liabilities and stockholders’ deficit	$ 2,181,351	$ 2,143,918

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Accounts receivable, allowance for credit loss	$ 855	$ 772
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Common stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, shares issued (in shares)	267,845	265,181
Common stock, shares outstanding (in shares)	267,845	265,181

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Revenue:
Total revenue	$ 590,956	$ 511,054
Cost of revenue:
Total cost of revenue	82,670	81,959
Gross profit	508,286	429,095
Operating expenses:
Sales and marketing	253,401	235,323
Research and development	173,959	151,975
General and administrative	53,676	47,503
Total operating expenses	481,036	434,801
(Loss) income from operations	27,250	(5,706)
Other (expense) income, net	9,573	(5,275)
(Loss) income before provision for income taxes	36,823	(10,981)
Provision for income taxes	6,897	4,872
Net (loss) income	$ 29,926	$ (15,853)
Net (loss) income per share attributable to Class A common stockholders, basic	$ 0.11	$ (0.07)
Net (loss) income per share attributable to Class A common stockholders, diluted	$ 0.1	$ (0.07)
Weighted average shares used in computing net (loss) income per share attributable to Class A common stockholders, basic	266,556	241,490
Weighted average shares used in computing net (loss) income per share attributable to Class A common stockholders, basic, diluted	288,829	241,490
Product
Revenue:
Total revenue	$ 301,919	$ 246,922
Cost of revenue:
Total cost of revenue	8,370	10,234
Support, entitlements and other services
Revenue:
Total revenue	289,037	264,132
Cost of revenue:
Total cost of revenue	$ 74,300	$ 71,725

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 29,926	$ (15,853)
Other comprehensive income (loss), net of tax:
Change in unrealized gain on available-for-salesecurities, net of tax	413	796
Comprehensive (loss) income	$ 30,339	$ (15,057)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Stockholders' equity, beginning balance at Jul. 31, 2023	$ (707,419)	$ 6	$ 3,930,668	$ (5,171)	$ (4,632,922)
Stockholders' equity, beginning balance (in shares) at Jul. 31, 2023		239,607,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through employee equity incentive plans	547		547
Issuance of common stock through employee equity incentive plans (in shares)		3,274,000
Issuance of common stock from ESPP purchase	13,233		13,233
Issuance of common stock from ESPP purchase (in shares)		653,000
Repurchase and retirement of common stock	(17,513)		(7,774)		(9,739)
Repurchase and retirement of common stock (in shares)		(482,000)
Stock-based compensation	83,998		83,998
Other comprehensive income	796			796
Net Income (Loss)	(15,853)				(15,853)
Stockholders' equity, ending balance at Oct. 31, 2023	(642,211)	$ 6	4,020,672	(4,375)	(4,658,514)
Stockholders' equity, ending balance (in shares) at Oct. 31, 2023		243,052,000
Stockholders' equity, beginning balance at Jul. 31, 2024	(728,148)	$ 7	4,118,898	146	(4,847,199)
Stockholders' equity, beginning balance (in shares) at Jul. 31, 2024		265,181,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through employee equity incentive plans	747		747
Issuance of common stock through employee equity incentive plans (in shares)		3,621,000
Issuance of common stock from ESPP purchase	27,365		27,365
Issuance of common stock from ESPP purchase (in shares)		811,000
Shares withheld related to net share value settlement of equity awards	(84,248)		(84,248)
Shares withheld related to net share settlement of equity award (in shares)		(1,428,000)
Repurchase and retirement of common stock	(20,100)		(5,569)		(14,531)
Repurchase and retirement of common stock (in shares)		(340,000)
Stock-based compensation	88,749		88,749
Other comprehensive income	413			413
Net Income (Loss)	29,926				29,926
Stockholders' equity, ending balance at Oct. 31, 2024	$ (685,296)	$ 7	$ 4,145,942	$ 559	$ (4,831,804)
Stockholders' equity, ending balance (in shares) at Oct. 31, 2024		267,845,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Oct. 31, 2024	Oct. 31, 2023
Cash flows from operating activities:
Net Income (Loss)		$ 29,926	$ (15,853)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		18,180	18,187
Stock-based compensation		88,749	83,998
Amortization of debt discount and issuance costs		386	11,055
Operating lease cost, net of accretion		6,919	7,872
Non-cash interest expense		0	5,017
Other		(817)	(4,044)
Changes in operating assets and liabilities:
Accounts receivable, net		52,453	23,656
Deferred commissions		19,472	5,098
Prepaid expenses and other assets		(1,999)	60,696
Accounts payable		(4,454)	3,953
Accrued compensation and benefits		(35,906)	(7,421)
Accrued expenses and other liabilities		(4,727)	(89,029)
Operating leases, net		(6,871)	(7,791)
Deferred revenue		440	50,079
Net cash provided by operating activities		161,751	145,473
Cash flows from investing activities:
Maturities of investments		91,648	248,980
Purchases of investments		(110,011)	(278,178)
Purchases of property and equipment		(9,831)	(13,020)
Net cash used in investing activities		(28,194)	(42,218)
Cash flows from financing activities:
Proceeds from sales of shares through employee equity incentive plans		28,113	13,783
Taxes paid related to net share settlement of equity awards		(79,274)	0
Repurchases of common stock		(20,100)	(17,513)
Payment of finance lease obligations		(964)	(637)
Net cash used in financing activities		(72,225)	(4,367)
Net increase in cash, cash equivalents and restricted cash		61,332	98,888
Cash, cash equivalents and restricted cash—beginning of period		655,662	515,771
Cash, cash equivalents and restricted cash—end of period		716,994	614,659
Restricted cash	[1]	390	2,197
Cash and cash equivalents—end of period		716,604	612,462
Supplemental disclosures of cash flow information:
Cash paid for income taxes		9,296	8,134
Supplemental disclosures of non-cash investing and financing information:
Purchases of property and equipment included in accounts payable and accrued and other liabilities		4,517	15,013
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other liabilities		$ 16,788	$ 0
[1] Included within other assets—non-current in the condensed consolidated balance sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 29,926	$ (15,853)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 31, 2024 shares
Rukmini Sivaraman [Member]
Trading Arrangements, by Individual
Name	Rukmini Sivaraman
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	October 9, 2024
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rajiv Ramaswami [Member]
Trading Arrangements, by Individual
Name	Rajiv Ramaswami
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	September 9, 2024
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Aggregate Available	220,810

Overview and Basis of Presentat

Overview and Basis of Presentation	3 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Overview and Basis of Presentation	NOTE 1. OVERVIEW AND B ASIS OF PRESENTATION Organization and Description of Business Nutanix, Inc. was incorporated in the state of Delaware in September 2009. Nutanix, Inc. is headquartered in San Jose, California, and together with its wholly-owned subsidiaries (collectively, "we," "us," "our," or "Nutanix"), has operations throughout North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. We are a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. Our vision is to make hybrid multicloud deployments simple and free customers to focus on achieving their business outcomes. Our mission is to delight customers with an open hybrid multicloud platform with rich data services to run and manage any application, anywhere. Our Nutanix Cloud Platform is designed to enable organizations to build a hybrid multicloud infrastructure, providing a consistent cloud operating model with a single platform for running applications and managing data in core data centers, at the edge, and in public clouds, all while supporting a variety of hypervisors and container platforms. Nutanix Cloud Platform supports a wide variety of workloads with varied compute, storage, and network requirements, including business-critical applications, data platforms (including SQL and NoSQL databases and business intelligence applications), general-purpose workloads (including system infrastructure, networking, and security), and end-user computing and virtual desktop infrastructure services, as well as enterprise artificial intelligence ("AI") workloads (including machine learning and generative AI workloads) and cloud native applications (including modern, containerized applications). Our business is organized into a single operating and reportable segment. Our subscription-based business model provides our customers with the flexibility to choose their preferred license levels and durations based on their specific business needs. A subscription-based business model means one in which our products, including associated support and entitlement arrangements, are sold with a defined duration. Our solutions are primarily sold through channel partners and original equipment manufacturers ("OEMs") (collectively, "Partners") and delivered directly to our end customers. Principles of Consolidation and Significant Accounting Policies The accompanying condensed consolidated financial statements, which include the accounts of Nutanix, Inc. and its wholly-owned subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") and are consistent in all material respects with those included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, filed with the Securities and Exchange Commission ("SEC") on September 19, 2024. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited, but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. The consolidated balance sheet as of July 31, 2024 is derived from audited financial statements; however, it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 . Use of Estimates The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such management estimates and assumptions include, but are not limited to, the best estimate of selling prices for products and related support; useful lives and recoverability of intangible assets and property and equipment; allowance for credit losses; determination of fair value of stock-based awards; accounting for income taxes, including the valuation allowance on deferred tax assets and uncertain tax positions; purchase commitment liabilities to our contract manufacturers; sales commissions expense and the period of benefit for deferred commissions; whether an arrangement is or contains a lease; the incremental borrowing rate to measure the present value of right-of-use assets and lease liabilities; the inputs used to determine the fair value of the contingent liability associated with the conversion feature of the previously outstanding 2.50 % convertible senior notes due 2026 (the "2026 Notes"); and contingencies and litigation. Management evaluates these estimates and assumptions on an ongoing basis using historical experience and other factors and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions. Concentration of Risk Concentration of revenue and accounts receivable — We sell our products primarily through our Partners and occasionally directly to end customers. For the three months ended October 31, 2023 and 2024 , no end customer accounted for more than 10 % of total revenue or accounts receivable. For each significant Partner, revenue as a percentage of total revenue and accounts receivable as a percentage of total accounts receivable, net are as follows: Revenue Accounts Receivable as of Three Months Ended July 31, October 31, Partners 2023 2024 Partner A (1) 13 % 16 % 13 % Partner B (1) (1) (1) 11 % Partner C (1) (1) (1) 10 % Partner D 15 % 15 % 10 % (1) Partner E 13 % 12 % (1) (1) Partner F 29 % 28 % 12 % (1) (1) Less than 10% Summary of Significant Accounting Policies There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , filed with the SEC on September 19, 2024, that have had a material impact on our condensed consolidated financial statements. Recently Issued and Not Yet Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the "FASB") issued accounting standards update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. The amendments in this update are effective for annual periods beginning after December 15, 2023, with early adoption permitted and requires application on a fully retrospective basis. This new ASU will be effective for us beginning with our Form 10-K for fiscal 2025. We are currently evaluating the impact this new standard will have on our disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which provides for improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. The amendments in this update are effective for fiscal years beginning after December 15, 2024, with early adoption permitted. This new ASU will be effective for us beginning in fiscal 2026. We are currently evaluating the impact this new standard will have on our disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the statement of operations. This new ASU is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. This new ASU will be effective for us beginning in fiscal 2028. We are currently evaluating the impact this new standard will have on our disclosures.

Revenue, Deferred Revenue and D

Revenue, Deferred Revenue and Deferred Commissions	3 Months Ended
	Oct. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Revenue, Deferred Revenue and Deferred Commissions	NOTE 2. REVENUE, DEFERRED REV ENUE AND DEFERRED COMMISSIONS Disaggregation of Revenue and Revenue Recognition Nutanix Cloud Platform can be deployed in core data centers, at the edge, or in public clouds, running on a variety of qualified hardware platforms (including out Nutanix-branded NX hardware line), in popular public cloud environments such as Amazon Web Services ("AWS") and Microsoft Azure through Nutanix Cloud Clusters, or, in the case of our cloud-based software and software-as-a-service ("SaaS") offerings, via hosted service. Our subscription term-based licenses are sold separately, or can also be sold alongside configured-to-order servers. Our subscription term-based licenses typically have durations ranging from one to five years . Our cloud-based SaaS subscriptions generally have durations extending up to five years. The following table depicts the disaggregation of revenue by revenue type, consistent with how we evaluate our financial performance: Three Months Ended 2023 2024 (in thousands) Subscription $ 479,478 $ 560,696 Professional services 22,835 27,285 Other non-subscription product 8,741 2,975 Total revenue $ 511,054 $ 590,956 Subscription revenue — Subscription revenue includes any performance obligation which has a defined term and is generated from the sales of software entitlement and support subscriptions, subscription software licenses and cloud-based SaaS offerings. • Ratable — We recognize revenue from software entitlement and support subscriptions and SaaS offerings ratably over the contractual service period, the substantial majority of which relate to software entitlement and support subscriptions. These offerings represented approximately $ 253.5 million of our subscription revenue for the three months ended October 31, 2023 and $ 274.4 million of our subscription revenue for the three months ended October 31, 2024. • Upfront — Revenue from our subscription software licenses is generally recognized upfront upon transfer of control to the customer, which happens when we make the software available to the customer. These subscription software licenses represented approximately $ 226.0 million of our subscription revenue for the three months ended October 31, 2023 and $ 286.3 million of our subscription revenue for the three months ended October 31, 2024. Professional services revenue — We also sell professional services with our products. We recognize revenue related to professional services as they are performed. Other non-subscription product revenue — Other non-subscription product revenue includes approximately $ 8.1 million of non-portable software revenue for the three months ended October 31, 2023, $ 1.9 million of non-portable software revenue for the three months ended October 31, 2024, $ 0.6 million of hardware revenue for the three months ended October 31, 2023, and $ 1.1 million of hardware revenue for the three months ended October 31, 2024. • Non-portable software revenue — Non-portable software revenue includes sales of our platform when delivered on a configured-to-order server by us or one of our OEM partners. The software licenses associated with these sales are typically non-portable and can be used over the life of the server on which the software is delivered. Revenue from our non-portable software products is generally recognized upon transfer of control to the customer. • Hardware revenue — In the infrequent transactions where the hardware platform is purchased directly from Nutanix, we consider ourselves to be the principal in the transaction and we record revenue and costs of goods sold on a gross basis. We consider the amount allocated to hardware revenue to be equivalent to the cost of the hardware procured. Hardware revenue is generally recognized upon transfer of control to the customer. Contracts with multiple performance obligations — The majority of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price ("SSP") basis. For deliverables that we routinely sell separately, such as software entitlement and support subscriptions on our core offerings, we determine SSP by evaluating the standalone sales over the trailing 12 months. For those that are not sold routinely, we determine SSP based on our overall pricing trends and objectives, taking into consideration market conditions and other factors, including the value of our contracts, the products sold and geographic locations. Contract balances — The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for credit losses. A receivable is recognized in the period in which we deliver goods or provide services, or when our right to consideration is unconditional. In situations where revenue recognition occurs before invoicing, an unbilled receivable is created, which represents a contract asset. The balance of unbilled accounts receivable, included in accounts receivable, net on the condensed consolidated balance sheets, was $ 41.1 million and $ 53.4 million as of July 31, 2024 and October 31, 2024, respectively. Our customers are typically invoiced upfront, including invoices for multi-year subscriptions, with payment terms of 30-45 days. We assess credit losses on accounts receivable by taking into consideration past collection experience, the credit quality of the customer, the age of the receivable balance, current and future economic conditions, and forecasts that may affect the collectability of the reported amount. The balance of accounts receivable, net of allowance for credit losses, as of July 31, 2024 and October 31, 2024 is presented in the accompanying condensed consolidated balance sheets. Costs to obtain and fulfill a contract — We capitalize commissions paid to sales personnel and the related payroll taxes when customer contracts are signed. These costs are recorded as deferred commissions in the condensed consolidated balance sheets, current and non-current. We determine whether costs should be deferred based on our sales compensation plans if the commissions are incremental and would not have been incurred absent the execution of the customer contract. Commissions paid upon the initial acquisition of a contract are recognized over the estimated period of benefit, which may exceed the term of the initial contract if the commissions expected to be paid upon renewal are not commensurate with that of the initial contract. Accordingly, deferred costs are recognized on a systematic basis that is consistent with the pattern of revenue recognition allocated to each performance obligation over the entire period of benefit and included in sales and marketing expense in the condensed consolidated statements of operations. We determine the estimated period of benefit by evaluating the expected renewals of customer contracts, the duration of relationships with our customers, customer retention data, our technology development lifecycle and other factors. Deferred costs are periodically reviewed for impairment. Taxes assessed by a government authority that are both imposed on and concurrent with specific revenue transactions between us and our customers are presented on a net basis in our condensed consolidated statements of operations. Deferred revenue — Deferred revenue primarily consists of amounts that have been invoiced but not yet recognized as revenue and primarily pertains to software entitlement and support subscriptions and professional services. The current portion of deferred revenue represents the amounts that are expected to be recognized as revenue within one year of the condensed consolidated balance sheet date. Significant changes in the balance of deferred revenue (contract liability) and deferred commissions (contract asset) for the periods presented are as follows: Deferred Deferred (in thousands) Balance as of July 31, 2024 $ 1,872,706 $ 358,811 Additions (1) 612,635 39,274 Revenue/commissions recognized ( 590,956 ) ( 58,746 ) Balance as of October 31, 2024 $ 1,894,385 $ 339,339 (1) Includes both billed and unbilled amounts. During the three months ended October 31, 2023 , we recognized revenue of approximately $ 244.2 million pertaining to amounts deferred as of July 31, 2023. During the three months ended October 31, 2024 , we recognized revenue of approximately $ 272.2 million pertaining to amounts deferred as of July 31, 2024. Many of our contracted but not invoiced performance obligations are subject to cancellation terms. Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized ("contracted not recognized"), which includes deferred revenue and non-cancelable amounts that will be invoiced and recognized as revenue in future periods and excludes performance obligations that are subject to cancellation terms. Contracted not recognized revenue was approximately $ 2.1 billion as of October 31, 2024 , of which we expect to recognize approximately 52 % over the next 12 months, and the remainder thereafter.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 3. FAIR VAL UE MEASUREMENTS The fair value of our financial assets measured on a recurring basis is as follows: As of July 31, 2024 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 352,295 $ — $ — $ 352,295 U.S. Government securities — 99 — 99 Commercial paper — 1,747 — 1,747 Short-term investments: Corporate bonds — 233,065 — 233,065 Commercial paper — 33,770 — 33,770 U.S. Government securities — 72,237 — 72,237 Total measured at fair value $ 352,295 $ 340,918 $ — $ 693,213 Cash 301,129 Total cash, cash equivalents and short-term investments $ 994,342 Financial Assets, Non-Current: Convertible note receivable $ — $ — $ 5,150 $ 5,150 As of October 31, 2024 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 326,975 $ — $ — $ 326,975 U.S. Government securities — 65,612 — 65,612 Commercial paper — 59,259 — 59,259 Short-term investments: Corporate bonds — 245,289 — 245,289 Commercial paper — 34,461 — 34,461 U.S. Government securities — 79,096 — 79,096 Total measured at fair value $ 326,975 $ 483,717 $ — $ 810,692 Cash 264,758 Total cash, cash equivalents and short-term investments $ 1,075,450 Financial Assets, Non-Current: Convertible note receivable $ — $ — $ 5,260 $ 5,260 Financial Instruments Not Recorded at Fair Value on a Recurring Basis We report our financial instruments at fair value, with the exception of the 0.25 % convertible senior notes due 2027 (the "2027 Notes"). Financial instruments that are not recorded at fair value on a recurring basis are measured at fair value on a quarterly basis for disclosure purposes. The carrying values and estimated fair values of financial instruments not recorded at fair value are as follows: As of July 31, 2024 As of October 31, 2024 Carrying Estimated Carrying Estimated (in thousands) 2027 Notes $ 570,073 $ 631,178 $ 570,458 $ 709,711 The carrying value of the 2027 Notes as of July 31, 2024 and October 31, 2024 was net of unamortized debt issuance costs of $ 4.9 million and $ 4.5 million, respectively. The total estimated fair value of the 2027 Notes was determined based on the closing trading price per $ 100 of the 2027 Notes as of the last day of trading for the period. We consider the fair value of the 2027 Notes to be a Level II valuation due to the limited trading activity.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Oct. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	NOTE 4. BALANCE SHEET COMPONENTS Short-Term Investments The amortized cost of our short-term investments approximates their fair value. Unrealized losses related to our short-term investments are generally due to interest rate fluctuations, as opposed to credit quality. However, we review individual securities that are in an unrealized loss position in order to evaluate whether or not they have experienced or are expected to experience credit losses that would result in a decline in fair value. As of July 31, 2024 and October 31, 2024, unrealized gains and losses from our short-term investments were not material and were not the result of a decline in credit quality. As a result, as of July 31, 2024 and October 31, 2024, we did not record any credit losses for these investments. The following table summarizes the estimated fair value of our investments in marketable debt securities by their contractual maturity dates: As of (in thousands) Due within one year $ 221,071 Due in one to three years 137,775 Total $ 358,846 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consists of the following: As of July 31, October 31, (in thousands) Prepaid operating expenses $ 62,815 $ 61,722 VAT receivables 8,017 7,610 Other current assets 26,475 29,120 Total prepaid expenses and other current assets $ 97,307 $ 98,452 Property and Equipment, Net Property and equipment, net consists of the following: As of Estimated July 31, October 31, (in months) (in thousands) Computer, production, engineering and other equipment 36 $ 421,559 $ 431,663 Demonstration units 12 59,570 59,388 Leasehold improvements (1) 64,607 61,430 Software (2) 29,014 29,014 Furniture and fixtures 60 16,169 14,133 Total property and equipment, gross 590,919 595,628 Less: accumulated depreciation ( 454,739 ) ( 463,173 ) Total property and equipment, net $ 136,180 $ 132,455 (1) Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term. (2) The estimated useful life of software ranges from 36 to 120 months, representing the period during which the software is expected to contribute, either directly or indirectly, to our future cash flows. Depreciation expense related to our property and equipment was $ 16.1 million for the three months ended October 31, 2023 and $ 16.4 million for the three months ended October 31, 2024. Goodwill and Intangible Assets, Net There was no change in the carrying value of goodwill during the three months ended October 31, 2024. Intangible assets, net consists of the following: As of July 31, October 31, (in thousands) Developed technology $ 79,838 $ 79,838 Customer relationships 11,230 11,230 Trade name 4,200 4,200 Total intangible assets, gross 95,268 95,268 Less: Accumulated amortization of developed technology ( 76,804 ) ( 77,571 ) Accumulated amortization of customer relationships ( 9,111 ) ( 9,199 ) Accumulated amortization of trade name ( 4,200 ) ( 4,200 ) Total accumulated amortization ( 90,115 ) ( 90,970 ) Total intangible assets, net $ 5,153 $ 4,298 Amortization expense related to our intangible assets is recognized in the condensed consolidated statements of operations within product cost of revenue for developed technology and sales and marketing expense for customer relationships and trade name. The estimated future amortization expense of our intangible assets is as follows: Fiscal Year Ending July 31: Amount (in thousands) 2025 (remaining nine months) $ 1,685 2026 777 2027 777 2028 353 2029 353 Thereafter 353 Total $ 4,298 Accrued Compensation and Benefits Accrued compensation and benefits consists of the following: As of July 31, October 31, (in thousands) Payroll taxes payable $ 31,797 $ 34,000 Accrued wages and taxes 16,255 28,469 Accrued vacation 26,772 28,360 Accrued commissions and taxes 40,714 22,444 Accrued benefits 16,580 16,318 Contributions to ESPP withheld 24,676 11,090 Accrued bonus 17,863 9,294 Retirement 401(k) payable 701 244 Other 20,244 14,451 Total accrued compensation and benefits $ 195,602 $ 164,670 Accrued expenses and other current liabilities consists of the following: As of July 31, October 31, (in thousands) Accrued professional services $ 2,004 $ 2,219 Income taxes payable 1,927 2 Other 21,036 16,747 Total accrued expenses and other current liabilities $ 24,967 $ 18,968

Convertible Senior Notes

Convertible Senior Notes	3 Months Ended
	Oct. 31, 2024
Debt Disclosure [Abstract]
Convertible Senior Notes	NOTE 5. CONVERTI BLE SENIOR NOTES 2026 Notes In September 2020, we issued $ 750.0 million in aggregate principal amount of the 2026 Notes to BCPE Nucleon (DE) SPV, LP, an entity affiliated with Bain Capital, LP ("Bain"). The 2026 Notes bore interest at a rate of 2.50 % per annum, with such interest paid in kind ("PIK") on the 2026 Notes held by Bain through an increase in the principal amount of the 2026 Notes, and to be paid in cash on any 2026 Notes transferred to entities that are not affiliated with Bain. Interest on the 2026 Notes accrued from the date of issuance, September 24, 2020, and was added to the principal amount on a semi-annual basis (on March 15 and September 15 of each year). On June 6, 2024, Bain delivered a notice of conversion to convert $ 817.6 million aggregate principal amount of the 2026 Notes, representing all of the outstanding principal amount as of that date. Under the terms of the indenture governing the 2026 Notes, the conversion was settled by paying the $ 817.6 million principal amount in cash and delivering the conversion spread of approximately 16.9 million shares of our Class A common stock. The cash portion was settled using a portion of our existing cash, cash equivalents and short-term investments. The 2026 Notes were converted in accordance with its original terms and conditions. Upon conversion, because the carrying amount of the conversion option was previously reclassified to equity, the unamortized discount remaining at the date of conversion was recognized as interest expense. The remaining carrying amount of the 2026 Notes was reduced by the cash transferred and then recognized in equity, such that no gain or loss was recognized. In addition, the accrued and unpaid interest as of the conversion date was forgiven pursuant to the terms of the indenture and recognized in equity. The following table sets forth the total interest expense recognized related to the 2026 Notes: Three Months Ended 2023 2024 (in thousands) Interest expense related to amortization of debt discount $ 9,577 $ — Interest expense related to amortization of debt issuance 1,094 — Non-cash interest expense 5,017 — Total interest expense $ 15,688 $ — Non-cash interest expense was related to the 2.5 % PIK interest that we accrued from the issuance of the 2026 Notes through the conversion date and was recognized within other expense, net in the condensed consolidated statement of operations and other liabilities–non-current in the condensed consolidated balance sheet. The accrued PIK interest was converted to the principal balance of the 2026 Notes at each payment date. 2027 Notes In September 2021, we issued $ 575 million in aggregate principal amount of 0.25 % convertible senior notes due 2027 consisting of (i) approximately $ 477.3 million principal amount of 2027 Notes in exchange for approximately $ 416.5 million principal amount of the previously outstanding 0 % convertible senior notes due 2023 (the " 2023 Notes") (the "Exchange Transactions") and (ii) approximately $ 97.7 million principal amount of 2027 Notes for cash (the "Subscription Transactions"). We did not receive any cash proceeds from the Exchange Transactions. The net cash proceeds from the Subscription Transactions were approximately $ 88.4 million after deducting the offering expenses for both the Exchange Transactions and the Subscription Transactions. We used (i) approximately $ 14.7 million of the net cash proceeds from the Subscription Transactions to repurchase approximately $ 12.8 million principal amount of the 2023 Notes and (ii) approximately $ 58.5 million of the net cash proceeds from the Subscription Transactions to repurchase approximately 1.4 million shares of our Class A common stock. The 2027 Notes bear interest at a rate of 0.25 % per annum, and pay interest semi-annually in arrears on each April 1 and October 1. The 2027 Notes will mature on October 1, 2027, unless earlier converted, redeemed or repurchased. The 2027 Notes are convertible into cash, shares of our Class A common stock, or a combination of cash and shares of Class A common stock, at our election. Each $ 1,000 of principal of the 2027 Notes is initially convertible into 17.3192 shares of our Class A common stock, which is equivalent to an initial conversion price of approximately $ 57.74 per share, subject to customary anti-dilution adjustments. Holders of these 2027 Notes may convert their 2027 Notes at their option at any time prior to the close of the business day immediately preceding July 1, 2027, only under the following circumstances: (1) during any fiscal quarter, and only during such fiscal quarter, if the closing price of our common stock for at least 20 trading days in a period of 30 consecutive trading days ending on, and including, the last trading day of the preceding fiscal quarter is greater than or equal to 130 % of the then applicable conversion price for the Notes per share of common stock; (2) during the five business day period after any consecutive five trading day period in which, for each trading day of that period, the trading price per $ 1,000 principal amount of 2027 Notes for such trading day was less than 98 % of the product of the closing price of our common stock and the then applicable conversion rate on each such trading day; (3) if we call the 2027 Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of certain specified corporate events. Upon conversion of the 2027 Notes, we will pay or deliver, as the case may be, cash, shares of our Class A common stock or a combination of cash and shares of Class A common stock, at our election. The conversion rate will be subject to adjustment in certain events, but will not be adjusted for any accrued or unpaid interest. Holders who convert their 2027 Notes in connection with certain corporate events that constitute a "make-whole fundamental change" (as defined in the indenture governing the 2027 Notes) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, if we undergo a "fundamental change" (as defined in the indenture governing the 2027 Notes) prior to the maturity date, holders of the 2027 Notes may require us to repurchase for cash all or a portion of their 2027 Notes at a repurchase price equal to 100 % of the principal amount of the repurchased 2027 Notes, plus accrued and unpaid interest thereon. In accounting for the exchange of convertible notes, we evaluated whether the transaction should be treated as a modification or extinguishment transaction. The partial exchange of the 2023 Notes and issuance of the 2027 Notes were deemed to have substantially different terms due to the significant difference between the value of the conversion option immediately prior to and after the exchange, and consequently, the 2023 Notes partial exchange was accounted for as a debt extinguishment. The $ 64.9 million difference between the total reacquisition price paid and the net carrying amount of the 2023 Notes was recognized as a debt extinguishment loss within other expense, net in the condensed consolidated statement of operations. The 2027 Notes consisted of the following: As of July 31, October 31, (in thousands) Principal amounts: Principal $ 575,000 $ 575,000 Unamortized debt issuance costs (1) ( 4,927 ) ( 4,542 ) Net carrying amount $ 570,073 $ 570,458 (1) Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52 %. As of October 31, 2024, the remaining life of the 2027 Notes was approximately 2.9 years . The following table sets forth the total interest expense recognized related to the 2027 Notes: Three Months Ended 2023 2024 (in thousands) Contractual interest expense $ 275 $ 359 Interest expense related to amortization of debt issuance 384 386 Total interest expense $ 659 $ 745

Leases

Leases	3 Months Ended
	Oct. 31, 2024
Leases [Abstract]
Leases	NOTE 6. LEASES We have operating leases for offices, research and development facilities, and data centers and finance leases for certain data center equipment. Our leases have remaining lease terms of one year to approximately six years , some of which include options to renew or terminate. We do not include renewal options in the lease terms for calculating our lease liability, as we are not reasonably certain that we will exercise these renewal options at the time of the lease commencement. Our lease agreements do not contain any residual value guarantees or restrictive covenants. Total operating lease cost was $ 9.6 million for the three months ended October 31, 2023 and $ 9.0 million for the three months ended October 31, 2024 , excluding short-term lease costs, variable lease costs and sublease income, each of which were not material. Variable lease costs primarily include common area maintenance charges. Total finance lease cost was $ 1.1 million for the three months ended October 31, 2023 and $ 1.2 million for the three months ended October 31, 2024. Supplemental balance sheet information related to our leases is as follows: As of July 31, October 31, (in thousands) Operating leases: Operating lease right-of-use assets, gross $ 180,843 $ 197,240 Accumulated amortization ( 71,710 ) ( 78,647 ) Operating lease right-of-use assets, net $ 109,133 $ 118,593 Operating lease liabilities—current $ 24,163 $ 23,621 Operating lease liabilities—non-current 90,359 100,409 Total operating lease liabilities $ 114,522 $ 124,030 Weighted average remaining lease term (in years): 4.8 4.8 Weighted average discount rate: 6.4 % 6.3 % As of July 31, October 31, (in thousands) Finance leases: Finance lease right-of-use assets, gross (1) $ 19,345 $ 19,345 Accumulated amortization (1) ( 9,412 ) ( 10,382 ) Finance lease right-of-use assets , net (1) $ 9,933 $ 8,963 Finance lease liabilities—current (2) $ 3,954 $ 4,012 Finance lease liabilities—non-current (3) 6,666 5,645 Total finance lease liabilities $ 10,620 $ 9,657 Weighted average remaining lease term (in years): 2.9 2.7 Weighted average discount rate: 7.0 % 7.0 % (1) Included in the condensed consolidated balance sheets within property and equipment, net. (2) Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities. (3) Included in the condensed consolidated balance sheets within other liabilities—non-current . Supplemental cash flow and other information related to our leases is as follows: Three Months Ended 2023 2024 (in thousands) Cash paid for amounts included in the measurement of Operating cash flows from operating leases $ 10,117 $ 10,024 Operating cash flows from finance leases $ — $ 181 Financing cash flows from finance leases $ 2,476 $ 964 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 10,620 $ 16,397 The undiscounted cash flows for our lease liabilities as of October 31, 2024 were as follows: Fiscal Year Ending July 31: Operating Finance Total (in thousands) 2025 (remaining nine months) $ 21,674 $ 3,432 $ 25,106 2026 29,276 3,874 33,150 2027 28,032 2,164 30,196 2028 27,329 1,153 28,482 2029 21,470 41 21,511 Thereafter 17,933 — 17,933 Total lease payments 145,714 10,664 156,378 Less: imputed interest ( 21,684 ) ( 1,007 ) ( 22,691 ) Total lease obligation 124,030 9,657 133,687 Less: current lease obligations ( 23,621 ) ( 4,012 ) ( 27,633 ) Long-term lease obligations $ 100,409 $ 5,645 $ 106,054 As of October 31, 2024 , we had additional operating lease commitments of approximately $ 18.7 million on an undiscounted basis for certain office leases that have not yet commenced. These operating leases will commence during fiscal 2025 and fiscal 2026, with lease terms of approximately five years .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7. COMMITMENTS AND CONTINGENCIES Purchase Commitments In the normal course of business, we make commitments with our contract manufacturers to ensure them a minimum level of financial consideration for their investment in our joint solutions. These commitments are based on performance targets or on-hand inventory and non-cancelable purchase orders for non-standard components. We record a charge related to these items when we determine that it is probable a loss will be incurred and we are able to estimate the amount of the loss. Our historical charges have not been material. As of October 31, 2024, we had approximately $ 135.8 million of non-cancelable purchase obligations and other commitments pertaining to our daily business operations, and approximately $ 80.1 million in the form of guarantees to certain of our contract manufacturers. Legal Proceedings We are not currently a party to any legal proceedings that we believe to be material to our business or financial condition. From time to time, we may become party to various litigation matters and subject to claims that arise in the ordinary course of business.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Oct. 31, 2024
Equity [Abstract]
Stockholders' Equity	NOTE 8. STOCKHO LDERS’ EQUITY We have one class of outstanding common stock consisting of Class A common stock. As of October 31, 2024 , we had 0.2 million shares of preferred stock authorized, with a par value of $ 0.000025 per share, and no shares issued and outstanding. As of October 31, 2024 , we had 1.0 billion shares of Class A common stock authorized, with a par value of $ 0.000025 per share. As of October 31, 2024 , we had 267.8 million shares of Class A common stock issued and outstanding. Holders of Class A common stock are entitled to one vote for each share of Class A common stock held on all matters submitted to a vote of stockholders. Share Repurchases In August 2023, our Board of Directors authorized the repurchase of up to $ 350.0 million of our Class A common stock. Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The authorization has no expiration date, does not obligate us to acquire any particular amount of our common stock, and may be suspended at any time at our discretion. During the three months ended October 31, 2024 , we repurchased 0.3 million shares of Class A common stock in open market transactions at a weighted average price of $ 58.81 per share for an aggregate purchase price of $ 20.0 million. As of October 31, 2024 , $ 198.9 million remained available for future share repurchases under the authorization.

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	Oct. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	NOTE 9. EQUITY INCENTIVE PLANS Stock Plans We have one active equity incentive plan, the 2016 Equity Incentive Plan (the "2016 Plan"), and two inactive equity incentive plans, the 2010 Stock Plan ("2010 Plan") and the 2011 Stock Plan ("2011 Plan") (collectively, the "Stock Plans"). Our stockholders approved the 2016 Plan in March 2016 and it became effective in connection with our initial public offering ("IPO"). As a result, at the time of the IPO, we ceased granting additional stock awards under the 2010 Plan and 2011 Plan and both plans were terminated. Any outstanding stock awards under the 2010 Plan and 2011 Plan remain outstanding, subject to the terms of the applicable plan and award agreements, until such shares are issued under those stock awards, by exercise of stock options or settlement of restricted stock units ("RSUs"), or until those stock awards become vested or expired by their terms. Under the 2016 Plan, we may grant incentive stock options, non-statutory stock options, restricted stock, RSUs, and stock appreciation rights to employees, directors and consultants. We initially reserved 22.4 million shares of our Class A common stock for issuance under the 2016 Plan. The number of shares of Class A common stock available for issuance under the 2016 Plan also includes an annual increase on the first day of each fiscal year, beginning in fiscal 2018, equal to the lesser of: 18.0 million shares, 5 % of the outstanding shares of all classes of common stock as of the last day of our immediately preceding fiscal year, or such other amount as may be determined by our Board of Directors. Accordingly, on August 1, 2023 and 2024, the number of shares of Class A common stock available for issuance under the 2016 Plan increased by 12.0 million and 13.3 million shares, respectively, pursuant to these provisions. As of October 31, 2024 , we had reserved a total of 53.5 million shares for the issuance of equity awards under the Stock Plans, of which 29.7 million shares were still available for grant. Restricted Stock Units RSUs settle into shares of Class A common stock upon vesting. During the second quarter of fiscal 2024, we began funding withholding taxes due on the vesting of employee RSUs by net share settlement, rather than our previous approach of selling shares of Class A common stock to cover taxes upon vesting of such awards. The payment of the withheld taxes to the tax authorities is reflected as a financing activity within the condensed consolidated statements of cash flows. Performance RSUs From time to time, we grant RSUs that have both service and performance conditions to our executives and employees ("PRSUs"). Vesting of PRSUs is subject to continuous service and the satisfaction of certain performance targets. While we recognize cumulative stock-based compensation expense for the portion of the awards for which both the service condition has been satisfied and it is probable that the performance conditions will be met, the actual vesting and settlement of PRSUs are subject to the performance conditions actually being met. Market Stock Units We also grant RSUs that have both service and market-based conditions to our executives and employees ("MSUs"). Vesting of MSUs is subject to continuous service and the satisfaction of certain market-based performance targets. While we recognize cumulative stock-based compensation expense for the portion of the awards for which the service condition has been satisfied, regardless of achievement of the specified targets, the actual vesting and settlement of MSUs are subject to the market-based conditions actually being met. In August 2023, the Compensation Committee of our Board of Directors approved the grant of approximately 0.8 million MSUs to certain of our executives. These MSUs have a weighted average grant date fair value per unit of approximately $ 47.09 and will vest up to 200 % of the target number of MSUs based upon our total shareholder return relative to the total shareholder return of companies in the Nasdaq Composite Index over a performance period of approximately 2.9 years, subject to continuous service on each vesting date. In September 2024, the Compensation Committee of our Board of Directors approved the grant of approximately 0.4 million MSUs to certain of our executives. These MSUs have a weighted average grant date fair value of approximately $ 92.22 and will vest up to 200 % of the target number of MSUs based upon our total shareholder return relative to the total shareholder return of companies in the Nasdaq Composite Index over a performance period of approximately 3.0 years, subject to continuous service on each vesting date. Below is a summary of RSU activity and PRSU and MSU (collectively, "PSU") activity under the Stock Plans: RSUs PSUs Number of Weighted Average Number of Weighted Average (in thousands) (in thousands) Outstanding at July 31, 2024 19,861 $ 27.58 2,314 $ 44.94 Granted 4,692 $ 59.88 677 $ 85.77 Released ( 2,464 ) $ 26.40 ( 1,082 ) $ 42.83 Forfeited ( 399 ) $ 29.26 ( 67 ) $ 51.95 Outstanding at October 31, 2024 21,690 $ 34.67 1,842 $ 60.92 Stock Options We did no t grant any stock options during the three months ended October 31, 2024 . A total of 0.1 million stock options were exercised during the three months ended October 31, 2024 , with a weighted average exercise price per share of $ 9.88 . As of October 31, 2024 , 0.2 million stock options, with a weighted average exercise price of $ 11.84 per share, a weighted average remaining contractual life of 0.5 years and an aggregate intrinsic value of $ 9.2 million, remained outstanding. Employee Stock Purchase Plan In December 2015, our Board of Directors adopted the 2016 Employee Stock Purchase Plan, which was subsequently amended in January 2016 and September 2016 and approved by our stockholders in March 2016 (the "Original 2016 ESPP"). The Original 2016 ESPP became effective in connection with our IPO. Our stockholders subsequently approved amendments to the Original 2016 ESPP in December 2019 and December 2022 (as amended, the "2016 ESPP"). Under the 2016 ESPP, the maximum number of shares of Class A common stock available for sale is 13.8 million shares. The 2016 ESPP allows eligible employees to purchase shares of our Class A common stock at a discount through payroll deductions of up to 15 % of eligible compensation, subject to caps of $ 25,000 in any calendar year and 1,000 shares on any purchase date. The 2016 ESPP provides for 12-month offering periods, generally beginning in March and September of each year, and each offering period consists of two six-month purchase periods. On each purchase date, participating employees will purchase Class A common stock at a price per share equal to 85 % of the lesser of the fair market value of our Class A common stock on (i) the first trading day of the applicable offering period or (ii) the last trading day of each purchase period in the applicable offering period. If the stock price of our Class A common stock on any purchase date in an offering period is lower than the stock price on the enrollment date of that offering period, the offering period will immediately reset after the purchase of shares on such purchase date and automatically roll into a new offering period. During the three months ended October 31, 2024 , 0.8 million shares of common stock were purchased under the 2016 ESPP for an aggregate amount of $ 49.3 million. As of October 31, 2024 , 9.9 million shares were available for future issuance under the 2016 ESPP. We use the Black-Scholes option pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted average assumptions on the date of grant: Three Months Ended October 31, 2023 2024 Expected term (in years) 0.79 0.71 Risk-free interest rate 5.1 % 4.9 % Volatility 48.5 % 46.4 % Dividend yield — % — % Stock-Based Compensation Total stock-based compensation expense recognized in the condensed consolidated statements of operations is as follows: Three Months Ended 2023 2024 (in thousands) Cost of revenue: Product $ 1,928 $ 1,212 Support, entitlements and other services 7,116 6,820 Sales and marketing 21,471 20,648 Research and development 38,404 43,562 General and administrative 15,079 16,507 Total stock-based compensation expense $ 83,998 $ 88,749 As of October 31, 2024 , unrecognized stock-based compensation expense related to outstanding stock awards was approximately $ 792.5 million and is expected to be recognized over a weighted average period of approximately 2.5 years.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. IN COME TAXES The income tax provisions of $ 4.9 million for the three months ended October 31, 2023 and $ 6.9 million for the three months ended October 31, 2024 primarily consisted of foreign taxes on our international operations and U.S. federal and state income taxes. We continue to maintain a full valuation allowance for our U.S. Federal and state deferred tax assets and a partial valuation allowance related to certain foreign net operating losses.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Oct. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NOTE 11. NET INCOME (L OSS) PER SHARE Basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by giving effect to potentially dilutive common stock equivalents outstanding during the period, as their effect would be dilutive. Potentially dilutive common shares include shares issuable upon the exercise of stock options, the vesting of RSUs and PSUs, and each purchase under the 2016 ESPP, and common stock issuable upon the conversion of convertible debt under the if-converted method. In loss periods, basic net loss per share and diluted net loss per share are the same, as the effect of potential common shares is antidilutive and therefore excluded. The computation of basic and diluted net income (loss) per share attributable to common stockholders is as follows: Three Months Ended 2023 2024 (in thousands, except per share data) Numerator: Net (loss) income $ ( 15,853 ) $ 29,926 Add: Interest expense related to convertible senior — 284 Diluted net (loss) income $ ( 15,853 ) $ 30,210 Denominator: Weighted average shares, basic 241,490 266,556 Add: Dilutive effect of common stock equivalents — 22,273 Weighted average shares, diluted 241,490 288,829 Net (loss) income per share attributable to Class A $ ( 0.07 ) $ 0.11 Net (loss) income per share attributable to Class A $ ( 0.07 ) $ 0.10 The following shares of common stock were excluded from the computation of diluted net (loss) income per share for the periods presented, as their effect would have been antidilutive: Three Months Ended 2023 2024 (in thousands) Outstanding stock options, RSUs and PSUs 31,190 2,668 Employee stock purchase plan 2,133 252 Common stock issuable upon the conversion of convertible 39,059 — Total 72,382 2,920 Shares that will be issued in connection with our stock awards and shares that will be purchased under the employee stock purchase plan are generally automatically converted into shares of our Class A common stock. Common stock issuable upon the conversion of convertible notes represents the antidilutive impact of the 2026 Notes and 2027 Notes under the if-converted method.

Segment Information

Segment Information	3 Months Ended
	Oct. 31, 2024
Segment Reporting [Abstract]
Segment Information	NOTE 12. SEGME NT INFORMATION Our chief operating decision maker is a group which is comprised of our Chief Executive Officer and Chief Financial Officer. This group reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, we have a single reportable segment. The following table sets forth revenue by geographic location based on bill-to location: Three Months Ended 2023 2024 (in thousands) U.S. $ 290,274 $ 332,728 Europe, the Middle East and Africa 124,584 151,191 Asia Pacific 83,112 95,819 Other Americas 13,084 11,218 Total revenue $ 511,054 $ 590,956 The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location: As of July 31, October 31, (in thousands) United States $ 102,873 $ 101,474 International 33,307 30,981 Total long-lived assets $ 136,180 $ 132,455

Overview and Basis of Present_2

Overview and Basis of Presentation (Policies)	3 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business Nutanix, Inc. was incorporated in the state of Delaware in September 2009. Nutanix, Inc. is headquartered in San Jose, California, and together with its wholly-owned subsidiaries (collectively, "we," "us," "our," or "Nutanix"), has operations throughout North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. We are a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. Our vision is to make hybrid multicloud deployments simple and free customers to focus on achieving their business outcomes. Our mission is to delight customers with an open hybrid multicloud platform with rich data services to run and manage any application, anywhere. Our Nutanix Cloud Platform is designed to enable organizations to build a hybrid multicloud infrastructure, providing a consistent cloud operating model with a single platform for running applications and managing data in core data centers, at the edge, and in public clouds, all while supporting a variety of hypervisors and container platforms. Nutanix Cloud Platform supports a wide variety of workloads with varied compute, storage, and network requirements, including business-critical applications, data platforms (including SQL and NoSQL databases and business intelligence applications), general-purpose workloads (including system infrastructure, networking, and security), and end-user computing and virtual desktop infrastructure services, as well as enterprise artificial intelligence ("AI") workloads (including machine learning and generative AI workloads) and cloud native applications (including modern, containerized applications). Our business is organized into a single operating and reportable segment. Our subscription-based business model provides our customers with the flexibility to choose their preferred license levels and durations based on their specific business needs. A subscription-based business model means one in which our products, including associated support and entitlement arrangements, are sold with a defined duration. Our solutions are primarily sold through channel partners and original equipment manufacturers ("OEMs") (collectively, "Partners") and delivered directly to our end customers.
Principles of Consolidation and Significant Accounting Policies	Principles of Consolidation and Significant Accounting Policies The accompanying condensed consolidated financial statements, which include the accounts of Nutanix, Inc. and its wholly-owned subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") and are consistent in all material respects with those included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, filed with the Securities and Exchange Commission ("SEC") on September 19, 2024. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited, but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. The consolidated balance sheet as of July 31, 2024 is derived from audited financial statements; however, it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 .
Use of Estimates	Use of Estimates The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such management estimates and assumptions include, but are not limited to, the best estimate of selling prices for products and related support; useful lives and recoverability of intangible assets and property and equipment; allowance for credit losses; determination of fair value of stock-based awards; accounting for income taxes, including the valuation allowance on deferred tax assets and uncertain tax positions; purchase commitment liabilities to our contract manufacturers; sales commissions expense and the period of benefit for deferred commissions; whether an arrangement is or contains a lease; the incremental borrowing rate to measure the present value of right-of-use assets and lease liabilities; the inputs used to determine the fair value of the contingent liability associated with the conversion feature of the previously outstanding 2.50 % convertible senior notes due 2026 (the "2026 Notes"); and contingencies and litigation. Management evaluates these estimates and assumptions on an ongoing basis using historical experience and other factors and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.
Concentration of Risk	Concentration of Risk Concentration of revenue and accounts receivable — We sell our products primarily through our Partners and occasionally directly to end customers. For the three months ended October 31, 2023 and 2024 , no end customer accounted for more than 10 % of total revenue or accounts receivable. For each significant Partner, revenue as a percentage of total revenue and accounts receivable as a percentage of total accounts receivable, net are as follows: Revenue Accounts Receivable as of Three Months Ended July 31, October 31, Partners 2023 2024 Partner A (1) 13 % 16 % 13 % Partner B (1) (1) (1) 11 % Partner C (1) (1) (1) 10 % Partner D 15 % 15 % 10 % (1) Partner E 13 % 12 % (1) (1) Partner F 29 % 28 % 12 % (1) (1) Less than 10%
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , filed with the SEC on September 19, 2024, that have had a material impact on our condensed consolidated financial statements.
Recently Issued and Not Yet Adopted Accounting Pronouncements	Recently Issued and Not Yet Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the "FASB") issued accounting standards update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. The amendments in this update are effective for annual periods beginning after December 15, 2023, with early adoption permitted and requires application on a fully retrospective basis. This new ASU will be effective for us beginning with our Form 10-K for fiscal 2025. We are currently evaluating the impact this new standard will have on our disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which provides for improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. The amendments in this update are effective for fiscal years beginning after December 15, 2024, with early adoption permitted. This new ASU will be effective for us beginning in fiscal 2026. We are currently evaluating the impact this new standard will have on our disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the statement of operations. This new ASU is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. This new ASU will be effective for us beginning in fiscal 2028. We are currently evaluating the impact this new standard will have on our disclosures.

Overview and Basis of Present_3

Overview and Basis of Presentation (Tables)	3 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Schedules of Concentration of Revenue and Accounts Receivable	For each significant Partner, revenue as a percentage of total revenue and accounts receivable as a percentage of total accounts receivable, net are as follows: Revenue Accounts Receivable as of Three Months Ended July 31, October 31, Partners 2023 2024 Partner A (1) 13 % 16 % 13 % Partner B (1) (1) (1) 11 % Partner C (1) (1) (1) 10 % Partner D 15 % 15 % 10 % (1) Partner E 13 % 12 % (1) (1) Partner F 29 % 28 % 12 % (1) (1) Less than 10%

Revenue, Deferred Revenue and_2

Revenue, Deferred Revenue and Deferred Commissions (Tables)	3 Months Ended
	Oct. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Revenue by Arrangement, Disclosure	The following table depicts the disaggregation of revenue by revenue type, consistent with how we evaluate our financial performance: Three Months Ended 2023 2024 (in thousands) Subscription $ 479,478 $ 560,696 Professional services 22,835 27,285 Other non-subscription product 8,741 2,975 Total revenue $ 511,054 $ 590,956
Deferred Revenue, by Arrangement, Disclosure	Significant changes in the balance of deferred revenue (contract liability) and deferred commissions (contract asset) for the periods presented are as follows: Deferred Deferred (in thousands) Balance as of July 31, 2024 $ 1,872,706 $ 358,811 Additions (1) 612,635 39,274 Revenue/commissions recognized ( 590,956 ) ( 58,746 ) Balance as of October 31, 2024 $ 1,894,385 $ 339,339 (1) Includes both billed and unbilled amounts.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured on Recurring Basis	The fair value of our financial assets measured on a recurring basis is as follows: As of July 31, 2024 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 352,295 $ — $ — $ 352,295 U.S. Government securities — 99 — 99 Commercial paper — 1,747 — 1,747 Short-term investments: Corporate bonds — 233,065 — 233,065 Commercial paper — 33,770 — 33,770 U.S. Government securities — 72,237 — 72,237 Total measured at fair value $ 352,295 $ 340,918 $ — $ 693,213 Cash 301,129 Total cash, cash equivalents and short-term investments $ 994,342 Financial Assets, Non-Current: Convertible note receivable $ — $ — $ 5,150 $ 5,150 As of October 31, 2024 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 326,975 $ — $ — $ 326,975 U.S. Government securities — 65,612 — 65,612 Commercial paper — 59,259 — 59,259 Short-term investments: Corporate bonds — 245,289 — 245,289 Commercial paper — 34,461 — 34,461 U.S. Government securities — 79,096 — 79,096 Total measured at fair value $ 326,975 $ 483,717 $ — $ 810,692 Cash 264,758 Total cash, cash equivalents and short-term investments $ 1,075,450 Financial Assets, Non-Current: Convertible note receivable $ — $ — $ 5,260 $ 5,260 The carrying values and estimated fair values of financial instruments not recorded at fair value are as follows: As of July 31, 2024 As of October 31, 2024 Carrying Estimated Carrying Estimated (in thousands) 2027 Notes $ 570,073 $ 631,178 $ 570,458 $ 709,711

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Oct. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Investments in Marketable Debt Securities, by Contractual Maturity Date	The following table summarizes the estimated fair value of our investments in marketable debt securities by their contractual maturity dates: As of (in thousands) Due within one year $ 221,071 Due in one to three years 137,775 Total $ 358,846
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consists of the following: As of July 31, October 31, (in thousands) Prepaid operating expenses $ 62,815 $ 61,722 VAT receivables 8,017 7,610 Other current assets 26,475 29,120 Total prepaid expenses and other current assets $ 97,307 $ 98,452
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: As of Estimated July 31, October 31, (in months) (in thousands) Computer, production, engineering and other equipment 36 $ 421,559 $ 431,663 Demonstration units 12 59,570 59,388 Leasehold improvements (1) 64,607 61,430 Software (2) 29,014 29,014 Furniture and fixtures 60 16,169 14,133 Total property and equipment, gross 590,919 595,628 Less: accumulated depreciation ( 454,739 ) ( 463,173 ) Total property and equipment, net $ 136,180 $ 132,455 (1) Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term. (2) The estimated useful life of software ranges from 36 to 120 months, representing the period during which the software is expected to contribute, either directly or indirectly, to our future cash flows.
Schedule of Intangible Assets, Net	Intangible assets, net consists of the following: As of July 31, October 31, (in thousands) Developed technology $ 79,838 $ 79,838 Customer relationships 11,230 11,230 Trade name 4,200 4,200 Total intangible assets, gross 95,268 95,268 Less: Accumulated amortization of developed technology ( 76,804 ) ( 77,571 ) Accumulated amortization of customer relationships ( 9,111 ) ( 9,199 ) Accumulated amortization of trade name ( 4,200 ) ( 4,200 ) Total accumulated amortization ( 90,115 ) ( 90,970 ) Total intangible assets, net $ 5,153 $ 4,298
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization expense of our intangible assets is as follows: Fiscal Year Ending July 31: Amount (in thousands) 2025 (remaining nine months) $ 1,685 2026 777 2027 777 2028 353 2029 353 Thereafter 353 Total $ 4,298
Schedule of Accrued Liabilities	Accrued Compensation and Benefits Accrued compensation and benefits consists of the following: As of July 31, October 31, (in thousands) Payroll taxes payable $ 31,797 $ 34,000 Accrued wages and taxes 16,255 28,469 Accrued vacation 26,772 28,360 Accrued commissions and taxes 40,714 22,444 Accrued benefits 16,580 16,318 Contributions to ESPP withheld 24,676 11,090 Accrued bonus 17,863 9,294 Retirement 401(k) payable 701 244 Other 20,244 14,451 Total accrued compensation and benefits $ 195,602 $ 164,670 Accrued expenses and other current liabilities consists of the following: As of July 31, October 31, (in thousands) Accrued professional services $ 2,004 $ 2,219 Income taxes payable 1,927 2 Other 21,036 16,747 Total accrued expenses and other current liabilities $ 24,967 $ 18,968

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	3 Months Ended
	Oct. 31, 2024
2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest Expense Recognized	The following table sets forth the total interest expense recognized related to the 2026 Notes: Three Months Ended 2023 2024 (in thousands) Interest expense related to amortization of debt discount $ 9,577 $ — Interest expense related to amortization of debt issuance 1,094 — Non-cash interest expense 5,017 — Total interest expense $ 15,688 $ —
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Components of Notes	The 2027 Notes consisted of the following: As of July 31, October 31, (in thousands) Principal amounts: Principal $ 575,000 $ 575,000 Unamortized debt issuance costs (1) ( 4,927 ) ( 4,542 ) Net carrying amount $ 570,073 $ 570,458 (1) Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52 %.
Interest Expense Recognized	The following table sets forth the total interest expense recognized related to the 2027 Notes: Three Months Ended 2023 2024 (in thousands) Contractual interest expense $ 275 $ 359 Interest expense related to amortization of debt issuance 384 386 Total interest expense $ 659 $ 745

Leases (Tables)

Leases (Tables)	3 Months Ended
	Oct. 31, 2024
Leases [Abstract]
Assets and Liabilities, Lessee	Supplemental balance sheet information related to our leases is as follows: As of July 31, October 31, (in thousands) Operating leases: Operating lease right-of-use assets, gross $ 180,843 $ 197,240 Accumulated amortization ( 71,710 ) ( 78,647 ) Operating lease right-of-use assets, net $ 109,133 $ 118,593 Operating lease liabilities—current $ 24,163 $ 23,621 Operating lease liabilities—non-current 90,359 100,409 Total operating lease liabilities $ 114,522 $ 124,030 Weighted average remaining lease term (in years): 4.8 4.8 Weighted average discount rate: 6.4 % 6.3 % As of July 31, October 31, (in thousands) Finance leases: Finance lease right-of-use assets, gross (1) $ 19,345 $ 19,345 Accumulated amortization (1) ( 9,412 ) ( 10,382 ) Finance lease right-of-use assets , net (1) $ 9,933 $ 8,963 Finance lease liabilities—current (2) $ 3,954 $ 4,012 Finance lease liabilities—non-current (3) 6,666 5,645 Total finance lease liabilities $ 10,620 $ 9,657 Weighted average remaining lease term (in years): 2.9 2.7 Weighted average discount rate: 7.0 % 7.0 % (1) Included in the condensed consolidated balance sheets within property and equipment, net. (2) Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities. (3) Included in the condensed consolidated balance sheets within other liabilities—non-current .
Supplemental Cash Flow and Other Information Related to Leases	Supplemental cash flow and other information related to our leases is as follows: Three Months Ended 2023 2024 (in thousands) Cash paid for amounts included in the measurement of Operating cash flows from operating leases $ 10,117 $ 10,024 Operating cash flows from finance leases $ — $ 181 Financing cash flows from finance leases $ 2,476 $ 964 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 10,620 $ 16,397
Lessee Operating and Finance Lease, Liability, Maturity	The undiscounted cash flows for our lease liabilities as of October 31, 2024 were as follows: Fiscal Year Ending July 31: Operating Finance Total (in thousands) 2025 (remaining nine months) $ 21,674 $ 3,432 $ 25,106 2026 29,276 3,874 33,150 2027 28,032 2,164 30,196 2028 27,329 1,153 28,482 2029 21,470 41 21,511 Thereafter 17,933 — 17,933 Total lease payments 145,714 10,664 156,378 Less: imputed interest ( 21,684 ) ( 1,007 ) ( 22,691 ) Total lease obligation 124,030 9,657 133,687 Less: current lease obligations ( 23,621 ) ( 4,012 ) ( 27,633 ) Long-term lease obligations $ 100,409 $ 5,645 $ 106,054

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Oct. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of RSUs Activity	Below is a summary of RSU activity and PRSU and MSU (collectively, "PSU") activity under the Stock Plans: RSUs PSUs Number of Weighted Average Number of Weighted Average (in thousands) (in thousands) Outstanding at July 31, 2024 19,861 $ 27.58 2,314 $ 44.94 Granted 4,692 $ 59.88 677 $ 85.77 Released ( 2,464 ) $ 26.40 ( 1,082 ) $ 42.83 Forfeited ( 399 ) $ 29.26 ( 67 ) $ 51.95 Outstanding at October 31, 2024 21,690 $ 34.67 1,842 $ 60.92
Schedule of ESPP Valuation Assumptions	We use the Black-Scholes option pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted average assumptions on the date of grant: Three Months Ended October 31, 2023 2024 Expected term (in years) 0.79 0.71 Risk-free interest rate 5.1 % 4.9 % Volatility 48.5 % 46.4 % Dividend yield — % — %
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Total stock-based compensation expense recognized in the condensed consolidated statements of operations is as follows: Three Months Ended 2023 2024 (in thousands) Cost of revenue: Product $ 1,928 $ 1,212 Support, entitlements and other services 7,116 6,820 Sales and marketing 21,471 20,648 Research and development 38,404 43,562 General and administrative 15,079 16,507 Total stock-based compensation expense $ 83,998 $ 88,749

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Oct. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share	The computation of basic and diluted net income (loss) per share attributable to common stockholders is as follows: Three Months Ended 2023 2024 (in thousands, except per share data) Numerator: Net (loss) income $ ( 15,853 ) $ 29,926 Add: Interest expense related to convertible senior — 284 Diluted net (loss) income $ ( 15,853 ) $ 30,210 Denominator: Weighted average shares, basic 241,490 266,556 Add: Dilutive effect of common stock equivalents — 22,273 Weighted average shares, diluted 241,490 288,829 Net (loss) income per share attributable to Class A $ ( 0.07 ) $ 0.11 Net (loss) income per share attributable to Class A $ ( 0.07 ) $ 0.10
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following shares of common stock were excluded from the computation of diluted net (loss) income per share for the periods presented, as their effect would have been antidilutive: Three Months Ended 2023 2024 (in thousands) Outstanding stock options, RSUs and PSUs 31,190 2,668 Employee stock purchase plan 2,133 252 Common stock issuable upon the conversion of convertible 39,059 — Total 72,382 2,920

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Area	The following table sets forth revenue by geographic location based on bill-to location: Three Months Ended 2023 2024 (in thousands) U.S. $ 290,274 $ 332,728 Europe, the Middle East and Africa 124,584 151,191 Asia Pacific 83,112 95,819 Other Americas 13,084 11,218 Total revenue $ 511,054 $ 590,956
Schedule of Long-lived Assets by Geographical Location	The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location: As of July 31, October 31, (in thousands) United States $ 102,873 $ 101,474 International 33,307 30,981 Total long-lived assets $ 136,180 $ 132,455

Overview and Basis of Present_4

Overview and Basis of Presentation - Schedules of Concentration of Revenue and Accounts Receivable (Details) - Partner Concentration Risk	3 Months Ended		12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Partner A | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	13%
Partner A | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	13%		16%
Partner B | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	11%
Partner C | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	10%
Partner D | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	15%	15%
Partner D | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			10%
Partner E | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	12%	13%
Partner F | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	28%	29%
Partner F | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			12%

Overview and Basis of Present_5

Overview and Basis of Presentation - Additional Information (Details)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Sep. 24, 2020
Partner [Member] | Customer Concentration Risk [Member] | Revenue
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration risk percentage	10%	10%
2026 Convertible Senior Notes | Convertible Debt [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Interest rate, stated percentage	2.50%		2.50%

Revenue, Deferred Revenue and_3

Revenue, Deferred Revenue and Deferred Commissions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 590,956	$ 511,054
Unbilled Contracts Receivable	53,400		$ 41,100
Amount deferred in prior period	272,200	244,200
Contracted revenue not recognized	$ 2,100,000
Percent expected to be recognized in next year	52%
Ratable
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 274,400	253,500
Upfront
Deferred Revenue Arrangement [Line Items]
Total revenue	286,300	226,000
Non-portable software
Deferred Revenue Arrangement [Line Items]
Total revenue	1,900	8,100
Hardware
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 1,100	$ 600
Minimum
Deferred Revenue Arrangement [Line Items]
Software, license term	1 year
Maximum
Deferred Revenue Arrangement [Line Items]
Software, license term	5 years

Revenue, Deferred Revenue and_4

Revenue, Deferred Revenue and Deferred Commissions - Revenue by Arrangement, Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 590,956	$ 511,054
Subscription
Condensed Income Statements, Captions [Line Items]
Total revenue	560,696	479,478
Professional services
Condensed Income Statements, Captions [Line Items]
Total revenue	27,285	22,835
Other non-subscription product
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 2,975	$ 8,741

Revenue, Deferred Revenue and_5

Revenue, Deferred Revenue and Deferred Commissions - Deferred Revenue, by Arrangement, Disclosure (Details) $ in Thousands	3 Months Ended
	Oct. 31, 2024 USD ($)
Movement in Deferred Commissions [Roll Forward]
Deferred commissions, beginning balance	$ 358,811
Additions	39,274	[1]
Revenue/commissions recognized	(58,746)
Deferred commissions, ending balance	339,339
Deferred revenue, beginning balance	1,872,706
Additions	612,635	[1]
Revenue/commissions recognized	(590,956)
Deferred revenue, ending balance	$ 1,894,385
[1] Includes both billed and unbilled amounts.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Financial Assets:
Short-term investments:	$ 358,846	$ 339,072
Recurring
Financial Assets:
Total measured at fair value	810,692	693,213
Cash	264,758	301,129
Total cash, cash equivalents and short-term investments	1,075,450	994,342
Recurring | Corporate bonds
Financial Assets:
Short-term investments:	245,289	233,065
Recurring | Money market funds
Financial Assets:
Cash equivalents:	326,975	352,295
Recurring | Commercial paper
Financial Assets:
Cash equivalents:	59,259	1,747
Short-term investments:	34,461	33,770
Recurring | U.S. government securities
Financial Assets:
Cash equivalents:	65,612	99
Short-term investments:	79,096	72,237
Recurring | Convertible Note Receivable
Financial Assets:
Assets, Noncurrent, Total	5,260	5,150
Recurring | Level I
Financial Assets:
Total measured at fair value	326,975	352,295
Recurring | Level I | Corporate bonds
Financial Assets:
Short-term investments:	0	0
Recurring | Level I | Money market funds
Financial Assets:
Cash equivalents:	326,975	352,295
Recurring | Level I | Commercial paper
Financial Assets:
Cash equivalents:	0	0
Short-term investments:	0	0
Recurring | Level I | U.S. government securities
Financial Assets:
Cash equivalents:	0	0
Short-term investments:	0	0
Recurring | Level I | Convertible Note Receivable
Financial Assets:
Assets, Noncurrent, Total	0	0
Recurring | Level II
Financial Assets:
Total measured at fair value	483,717	340,918
Recurring | Level II | Corporate bonds
Financial Assets:
Short-term investments:	245,289	233,065
Recurring | Level II | Money market funds
Financial Assets:
Cash equivalents:	0	0
Recurring | Level II | Commercial paper
Financial Assets:
Cash equivalents:	59,259	1,747
Short-term investments:	34,461	33,770
Recurring | Level II | U.S. government securities
Financial Assets:
Cash equivalents:	65,612	99
Short-term investments:	79,096	72,237
Recurring | Level II | Convertible Note Receivable
Financial Assets:
Assets, Noncurrent, Total	0	0
Recurring | Level III
Financial Assets:
Total measured at fair value	0	0
Recurring | Level III | Corporate bonds
Financial Assets:
Short-term investments:	0	0
Recurring | Level III | Money market funds
Financial Assets:
Cash equivalents:	0	0
Recurring | Level III | Commercial paper
Financial Assets:
Cash equivalents:	0	0
Short-term investments:	0	0
Recurring | Level III | U.S. government securities
Financial Assets:
Cash equivalents:	0	0
Short-term investments:	0	0
Recurring | Level III | Convertible Note Receivable
Financial Assets:
Assets, Noncurrent, Total	$ 5,260	$ 5,150

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Oct. 31, 2024	Jul. 31, 2024	Sep. 30, 2021	Sep. 24, 2020
2023 Convertible Senior Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage				0%
2026 Convertible Senior Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage		2.50%			2.50%
2027 Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage		0.25%
2027 Convertible Senior Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage		0.25%		0.25%
Unamortized debt issuance cost	[1]	$ 4,542	$ 4,927
Closing trading price		$ 100
[1] Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52 %.

Fair Value Measurements - Non-r

Fair Value Measurements - Non-recurring Basis (Details) - 2027 Convertible Senior Notes - Fair Value, Measurements, Nonrecurring - Convertible Debt - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	$ 570,458	$ 570,073
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	$ 709,711	$ 631,178

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Investments in Marketable Debt Securities, by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]
Due within one year	$ 221,071
Due in one to three years	137,775
Total	$ 358,846	$ 339,072

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid operating expenses	$ 61,722	$ 62,815
VAT receivables	7,610	8,017
Other current assets	29,120	26,475
Total prepaid expenses and other current assets	$ 98,452	$ 97,307

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands		Oct. 31, 2024	Jul. 31, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment, gross		$ 595,628	$ 590,919
Less: accumulated depreciation		(463,173)	(454,739)
Total property and equipment, net		$ 132,455	136,180
Computer, production, engineering and other equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life		36 months
Total property and equipment, gross		$ 431,663	421,559
Demonstration units
Property, Plant and Equipment [Line Items]
Estimated Useful Life		12 months
Total property and equipment, gross		$ 59,388	59,570
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	[1]	61,430	64,607
Software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	[2]	$ 29,014	29,014
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life		60 months
Total property and equipment, gross		$ 14,133	$ 16,169
[1] Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term. The estimated useful life of software ranges from 36 to 120 months, representing the period during which the software is expected to contribute, either directly or indirectly, to our future cash flows.

Balance Sheet Components - Sc_4

Balance Sheet Components - Schedule of Property and Equipment, Net (Parenthetical) (Details) - Software	Oct. 31, 2024
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	120 months
Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	36 months

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 16.4	$ 16.1

Balance Sheet Components - Sc_5

Balance Sheet Components - Schedule of Goodwill and Intangible Assets, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 95,268	$ 95,268
Less:
Total accumulated amortization	(90,970)	(90,115)
Total intangible assets, net	4,298	5,153
Developed technology
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	79,838	79,838
Less:
Total accumulated amortization	(77,571)	(76,804)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	11,230	11,230
Less:
Total accumulated amortization	(9,199)	(9,111)
Trade Names
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	4,200	4,200
Less:
Total accumulated amortization	$ (4,200)	$ (4,200)

Balance Sheet Components - Sc_6

Balance Sheet Components - Schedule of Finite-lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Jul. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (remaining nine months)	$ 1,685
2026	777
2027	777
2028	353
2029	353
Thereafter	353
Total	$ 4,298

Balance Sheet Components - Sc_7

Balance Sheet Components - Schedule of Accrued Compensation Benefits (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Employee-related Liabilities, Current [Abstract]
Payroll taxes payable	$ 34,000	$ 31,797
Accrued wages and taxes	28,469	16,255
Accrued vacation	28,360	26,772
Accrued commissions and taxes	22,444	40,714
Accrued benefits	16,318	16,580
Contributions to ESPP withheld	11,090	24,676
Accrued bonus	9,294	17,863
Retirement 401(k) payable	244	701
Other	14,451	20,244
Total accrued compensation and benefits	$ 164,670	$ 195,602

Balance Sheet Components - Sc_8

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Other Liabilities Disclosure [Abstract]
Accrued professional services	$ 2,219	$ 2,004
Income taxes payable	2	1,927
Other	16,747	21,036
Total accrued expenses and other current liabilities	$ 18,968	$ 24,967

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Details) $ / shares in Units, $ in Thousands, shares in Millions		1 Months Ended	3 Months Ended
	Jun. 06, 2024 USD ($)	Sep. 30, 2021 USD ($) PurchasePeriod $ / shares shares	Oct. 31, 2024 USD ($)	Jul. 31, 2024 USD ($)	Sep. 30, 2020 USD ($)	Sep. 24, 2020
2023 Convertible Senior Notes
Debt Instrument [Line Items]
Loss on debt extinguishment			$ 64,900
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			0.25%
Principal		$ 1,000
Convertible Debt | 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		0%
Convertible debt		$ 416,500
Repurchase amount		$ 12,800
Convertible Debt | 2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			2.50%			2.50%
Face amount	$ 817,600				$ 750,000
Debt Instrument Conversion For Cash	$ 817,600
Conversion ratio	16,900,000
Convertible Debt | 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		0.25%	0.25%
Face amount		$ 575,000
Principal			$ 575,000	$ 575,000
Convertible debt		477,300
Debt instrument for cash, net		88,400
Notes for cash		97,700
Repurchase amount		$ 14,700
Conversion ratio		17.3192
Conversion price (in dollars per share) | $ / shares		$ 57.74
Threshold trading days | PurchasePeriod		20
Threshold consecutive trading days | PurchasePeriod		30
Redemption price, percentage		100%
Debt instrument, term			2 years 10 months 24 days
Debt instrument, principal amount for conversion into common stock		$ 1,000
Convertible Debt | 2027 Convertible Senior Notes | Minimum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger		130%
Convertible Debt | 2027 Convertible Senior Notes | Common Class A [Member]
Debt Instrument [Line Items]
Repurchase amount		$ 58,500
Number of share repurchase | shares		1.4
Convertible Debt | 2027 Convertible Senior Notes | Common Class A [Member] | Maximum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger		98%

Convertible Senior Notes - Comp

Convertible Senior Notes - Components of Debt (Details) - 2027 Convertible Senior Notes - USD ($) $ in Thousands		Oct. 31, 2024	Jul. 31, 2024	Sep. 30, 2021
Debt Instrument [Line Items]
Principal				$ 1,000
Convertible Debt
Debt Instrument [Line Items]
Principal		$ 575,000	$ 575,000
Unamortized debt issuance costs	[1]	(4,542)	(4,927)
Net carrying amount		$ 570,458	$ 570,073
[1] Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52 %.

Convertible Senior Notes - Co_2

Convertible Senior Notes - Components of Notes (Parenthetical) (Details)	Oct. 31, 2024
Convertible Debt | 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate	0.52%

Convertible Senior Notes - Inte

Convertible Senior Notes - Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Debt Instrument [Line Items]
Non-cash interest expense	$ 0	$ 5,017
Convertible Debt | 2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest expense related to amortization of debt discount	0	9,577
Interest expense related to amortization of debt issuance costs	0	1,094
Non-cash interest expense	0	5,017
Total interest expense	0	15,688
Convertible Debt | 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Contractual interest expense	359	275
Interest expense related to amortization of debt issuance costs	386	384
Total interest expense	$ 745	$ 659

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 9	$ 9.6
Finance lease, cost	1.2	$ 1.1
Lease not yet commenced, undiscounted amount	$ 18.7
Lease not yet commenced, term of contract	5 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	6 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands		Oct. 31, 2024	Jul. 31, 2024
Operating leases
Operating lease right-of-use assets, gross		$ 197,240	$ 180,843
Accumulated amortization		(78,647)	(71,710)
Operating lease right-of-use assets, net		118,593	109,133
Operating lease liabilities—current		23,621	24,163
Operating lease liabilities—non-current		100,409	90,359
Total operating lease liabilities		$ 124,030	$ 114,522
Weighted average remaining lease term (in years)		4 years 9 months 18 days	4 years 9 months 18 days
Weighted average discount rate		6.30%	6.40%
Finance leases
Finance lease right-of-use assets, gross	[1]	$ 19,345	$ 19,345
Accumulated amortization	[1]	(10,382)	(9,412)
Finance lease right-of-use assets, net	[1]	8,963	9,933
Finance lease liabilities-current	[2]	4,012	3,954
Finance lease liabilities-non-current	[3]	5,645	6,666
Total lease obligation		$ 9,657	$ 10,620
Weighted average remaining lease term (in years)		2 years 8 months 12 days	2 years 10 months 24 days
Weighted average discount rate		7%	7%
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current	Accrued Liabilities, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]		Liabilities	Liabilities
[1] Included in the condensed consolidated balance sheets within property and equipment, net. Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities. Included in the condensed consolidated balance sheets within other liabilities—non-current

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 10,024	$ 10,117
Operating cash flows from finance leases	181	0
Financing cash flows from finance leases	964	2,476
Lease liabilities arising from obtaining right-of-use assets from operating leases	$ 16,397	$ 10,620

Leases - Remaining Maturity Und

Leases - Remaining Maturity Under Topic 842 (Details) - USD ($) $ in Thousands		Oct. 31, 2024	Jul. 31, 2024
Operating Leases
2025 (remaining nine months)		$ 21,674
2026		29,276
2027		28,032
2028		27,329
2029		21,470
Thereafter		17,933
Total lease payments		145,714
Less: imputed interest		(21,684)
Total lease obligation		124,030	$ 114,522
Less: current lease obligations		(23,621)	(24,163)
Long-term lease obligations		100,409	90,359
Finance leases
2025 (remaining nine months)		3,432
2026		3,874
2027		2,164
2028		1,153
2029		41
Thereafter		0
Total lease payments		10,664
Less: imputed interest		(1,007)
Total lease obligation		9,657	10,620
Less: current lease obligations	[1]	(4,012)	(3,954)
Long-term lease obligations	[2]	5,645	$ 6,666
Total
2025 (remaining nine months)		25,106
2026		33,150
2027		30,196
2028		28,482
2029		21,511
Thereafter		17,933
Total lease payments		156,378
Less: imputed interest		(22,691)
Total lease obligation		133,687
Less: current lease obligations		(27,633)
Long-term lease obligations		$ 106,054
[1] Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities. Included in the condensed consolidated balance sheets within other liabilities—non-current

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Oct. 31, 2024 USD ($)
Non-contract Vendors
Loss Contingencies [Line Items]
Purchase obligation	$ 135.8
Contract Manufacturer
Loss Contingencies [Line Items]
Purchase obligation	$ 80.1

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2024 USD ($) Class Vote $ / shares shares	Oct. 31, 2023 USD ($)	Jul. 31, 2024 $ / shares shares	Aug. 31, 2023 USD ($)
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	200
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.000025
Preferred Stock, Shares Outstanding	0
Preferred Stock, Shares Issued	0
Payments for repurchase of common stock | $	$ 20,100	$ 17,513
Common Class A [Member]
Class of Stock [Line Items]
Common stock, number of classes of stock | Class	1
Common stock, shares authorized (in shares)	1,000,000		1,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.000025		$ 0.000025
Common stock, shares issued (in shares)	267,845		265,181
Common stock, shares outstanding (in shares)	267,845		265,181
Common stock number of votes per share | Vote	1
Stock repurchase program, authorized amount | $				$ 350,000
Repurchase and retirement of common stock (in shares)	300
Stock repurchase price (in dollars per share) | $ / shares	$ 58.81
Payments for repurchase of common stock | $	$ 20,000
Stock repurchase program, remaining authorization amount | $	$ 198,900

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Thousands					1 Months Ended			3 Months Ended
	Aug. 01, 2024 shares	Aug. 01, 2023 shares	Dec. 13, 2019 USD ($) PurchasePeriod shares	Dec. 13, 2019 USD ($) PurchasePeriod	Sep. 30, 2024 $ / shares shares	Aug. 31, 2023 $ / shares shares	Sep. 30, 2016 shares	Oct. 31, 2024 USD ($) Plan $ / shares shares	Oct. 31, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)								0
Exercises in period (in shares)								100,000
Weighted average exercise price (in dollars per share) | $ / shares								$ 9.88
Options outstanding (in shares)								200,000
Options, weighted average exercise price | $ / shares								$ 11.84
Contractual term								6 months
Options outstanding, intrinsic value | $								$ 9,200
Monetary cap | $			$ 25,000	$ 25,000
Share cap (in shares)			1,000
Offering period duration (in months)			12 months
Number of six-month purchase periods | PurchasePeriod			2	2
Proceeds from stock plans | $								28,113	$ 13,783
Compensation not yet recognized | $								$ 792,500
Period for recognition (in years)								2 years 6 months
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)								53,500,000
Number of shares available for grant (in shares)								29,700,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								4,692,000
Granted (in dollars per share) | $ / shares								$ 59.88
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | Plan								1
Shares reserved for future issuance (in shares)								9,900,000
2016 Plan | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)							22,400,000
Annual increase (in shares)							18,000,000
Annual increase, percent of outstanding shares							5%
Number of additional shares authorized	13,300,000	12,000,000
2010 Stock Plan and 2011 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of inactive equity incentive plans | Plan								2
Market Stock Units | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						800,000
Granted (in dollars per share) | $ / shares						$ 47.09
Vesting percentage						200%
Award vesting period						2 years 10 months 24 days
Market Stock Units | President and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					400,000
Granted (in dollars per share) | $ / shares					$ 92.22
Vesting percentage					200%
Award vesting period					3 years
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of eligible compensation (up to)			15%	15%
Purchase price of common stock, percent				85%
ESPP stock issued during period (in shares)								800,000
Proceeds from stock plans | $								$ 49,300
Employee Stock Purchase Plan | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)								13,800,000

Equity Incentive Plans - RSU (D

Equity Incentive Plans - RSU (Details) shares in Thousands	3 Months Ended
	Oct. 31, 2024 $ / shares shares
RSUs
Number of Shares
Outstanding, beginning balance (in shares) | shares	19,861
Granted (in shares) | shares	4,692
Released (in shares) | shares	(2,464)
Forfeited (in shares) | shares	(399)
Outstanding, ending balance (in shares) | shares	21,690
Grant Date Fair Value per Share
Beginning Outstanding (in dollars per share) | $ / shares	$ 27.58
Granted (in dollars per share) | $ / shares	59.88
Released (in dollars per share) | $ / shares	26.4
Forfeited (in dollars per share) | $ / shares	29.26
Ending Outstanding (in dollars per share) | $ / shares	$ 34.67
PSUs
Number of Shares
Outstanding, beginning balance (in shares) | shares	2,314
Granted (in shares) | shares	677
Released (in shares) | shares	(1,082)
Forfeited (in shares) | shares	(67)
Outstanding, ending balance (in shares) | shares	1,842
Grant Date Fair Value per Share
Beginning Outstanding (in dollars per share) | $ / shares	$ 44.94
Granted (in dollars per share) | $ / shares	85.77
Released (in dollars per share) | $ / shares	42.83
Forfeited (in dollars per share) | $ / shares	51.95
Ending Outstanding (in dollars per share) | $ / shares	$ 60.92

Equity Incentive Plans - ESPP (

Equity Incentive Plans - ESPP (Details) - Employee Stock Purchase Plan	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	8 months 15 days	9 months 14 days
Risk-free interest rate	4.90%	5.10%
Volatility	46.40%	48.50%
Dividend yield	0%	0%

Equity Incentive Plans - Stock

Equity Incentive Plans - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 88,749	$ 83,998
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	20,648	21,471
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	43,562	38,404
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	16,507	15,079
Product | Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,212	1,928
Support, entitlements and other services | Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 6,820	$ 7,116

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 6,897	$ 4,872

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Earnings Per Share [Abstract]
Net (loss) income	$ 29,926	$ (15,853)
Add: Interest expense related to convertible senior notes, net of tax	284	0
Diluted net (loss) income	$ 30,210	$ (15,853)
Weighted average shares, basic	266,556	241,490
Add: Dilutive effect of common stock equivalents	22,273	0
Weighted average shares, diluted	288,829	241,490
Net (loss) income per share attributable to Class A common stockholders, basic	$ 0.11	$ (0.07)
Net (loss) income per share attributable to Class A common stockholders, diluted	$ 0.1	$ (0.07)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,920	72,382
Outstanding stock options RSUs and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,668	31,190
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	252	2,133
Common stock issuable upon the conversion of the Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	39,059

Segment Information - Additiona

Segment Information - Additional information (Details)	3 Months Ended
	Oct. 31, 2024 Segment
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments	1

Segment Information - Schedule

Segment Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 590,956	$ 511,054
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	332,728	290,274
Europe, the Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	151,191	124,584
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	95,819	83,112
Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 11,218	$ 13,084

Segment Information - Schedul_2

Segment Information - Schedule of Sets Forth Long-Lived Assets Include Property and Equipment, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jul. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 132,455	$ 136,180
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	101,474	102,873
Non-US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 30,981	$ 33,307