Nutanix (NTNX) 10-Q 6 Mar 25 2025 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jan. 31, 2025	Feb. 28, 2025
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2025
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)		266,662,470
Entity Central Index Key	0001618732
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,072,161	$ 655,270
Short-term investments	670,686	339,072
Accounts receivable, net of allowances of $772 and $1,558, respectively	327,294	229,796
Deferred commissions—current	153,330	159,849
Prepaid expenses and other current assets	111,923	97,307
Total current assets	2,335,394	1,481,294
Property and equipment, net	138,753	136,180
Operating lease right-of-use assets	112,051	109,133
Deferred commissions—non-current	184,904	198,962
Intangible assets, net	3,443	5,153
Goodwill	185,235	185,235
Other assets—non-current	29,210	27,961
Total assets	2,988,990	2,143,918
Current liabilities:
Accounts payable	45,903	45,066
Accrued compensation and benefits	203,040	195,602
Accrued expenses and other current liabilities	22,428	24,967
Deferred revenue—current	1,024,364	954,543
Operating lease liabilities—current	21,819	24,163
Total current liabilities	1,317,554	1,244,341
Deferred revenue—non-current	995,173	918,163
Operating lease liabilities—non-current	93,828	90,359
Convertible senior notes, net	1,341,388	570,073
Other liabilities—non-current	48,721	49,130
Total liabilities	3,796,664	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 January 31, 2025; 265,181 and 266,637 Class A shares issued and outstanding as of July 31, 2024 and January 31, 2025, respectively	7	7
Additional paid-in capital	4,120,529	4,118,898
Accumulated other comprehensive income	404	146
Accumulated deficit	(4,928,614)	(4,847,199)
Total stockholders’ deficit	(807,674)	(728,148)
Total liabilities and stockholders’ deficit	$ 2,988,990	$ 2,143,918

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Accounts receivable, allowance for credit loss	$ 1,558	$ 772
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	266,637,000	265,181,000
Common stock, shares outstanding (in shares)	266,637,000	265,181,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Revenue:
Total revenue	$ 654,721	$ 565,233	$ 1,245,677	$ 1,076,287
Cost of revenue:
Total cost of revenue	85,288	81,556	167,958	163,515
Gross profit	569,433	483,677	1,077,719	912,772
Operating expenses:
Sales and marketing	261,382	236,702	514,783	472,025
Research and development	182,785	160,401	356,744	312,376
General and administrative	59,828	49,529	113,504	97,032
Total operating expenses	503,995	446,632	985,031	881,433
Income from operations	65,438	37,045	92,688	31,339
Other income (expense), net	(355)	2,096	9,218	(3,179)
Income before provision for income taxes	65,083	39,141	101,906	28,160
Provision for income taxes	8,656	6,346	15,553	11,218
Net income	$ 56,427	$ 32,795	$ 86,353	$ 16,942
Net income per share attributable to Class A common stockholders, basic	$ 0.21	$ 0.13	$ 0.32	$ 0.07
Net income per share attributable to Class A common stockholders, diluted	$ 0.19	$ 0.12	$ 0.3	$ 0.09
Weighted average shares used in computing net income per share attributable to Class A common stockholders, basic	267,138	243,853	266,842	242,667
Weighted average shares used in computing net income per share attributable to Class A common stockholders, diluted	293,351	298,540	291,086	294,851
Product
Revenue:
Total revenue	$ 354,187	$ 299,660	$ 656,106	$ 546,582
Cost of revenue:
Total cost of revenue	8,823	9,402	17,193	19,636
Support, entitlements and other services
Revenue:
Total revenue	300,534	265,573	589,571	529,705
Cost of revenue:
Total cost of revenue	$ 76,465	$ 72,154	$ 150,765	$ 143,879

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 56,427	$ 32,795	$ 86,353	$ 16,942
Other comprehensive income (loss), net of tax:
Change in unrealized gain on available-for-sale securities, net of tax	(155)	5,254	258	6,050
Comprehensive income	$ 56,272	$ 38,049	$ 86,611	$ 22,992

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, 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]
Net Income (Loss)	16,942
Stockholders' equity, ending balance at Jan. 31, 2024	(611,682)	$ 6	4,039,779	879	(4,652,346)
Stockholders' equity, ending balance (in shares) at Jan. 31, 2024		244,659,000
Stockholders' equity, beginning balance at Oct. 31, 2023	(642,211)	$ 6	4,020,672	(4,375)	(4,658,514)
Stockholders' equity, beginning balance (in shares) at Oct. 31, 2023		243,052,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through employee equity incentive plans	1,370		1,370
Issuance of common stock through employee equity incentive plans (in shares)		3,689,000
Shares withheld related to net share value settlement of equity awards	(53,180)		(53,180)
Shares withheld related to net share settlement of equity award (in shares)		(1,148,000)
Repurchase and retirement of common stock	(41,679)		(15,052)		(26,627)
Repurchase and retirement of common stock (in shares)		(934,000)
Stock-based compensation	85,969		85,969
Other comprehensive income	5,254			5,254
Net Income (Loss)	32,795				32,795
Stockholders' equity, ending balance at Jan. 31, 2024	(611,682)	$ 6	4,039,779	879	(4,652,346)
Stockholders' equity, ending balance (in shares) at Jan. 31, 2024		244,659,000
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
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]
Net Income (Loss)	86,353
Stockholders' equity, ending balance at Jan. 31, 2025	(807,674)	$ 7	4,120,529	404	(4,928,614)
Stockholders' equity, ending balance (in shares) at Jan. 31, 2025		266,637,000
Stockholders' equity, beginning balance at Oct. 31, 2024	(685,296)	$ 7	4,145,942	559	(4,831,804)
Stockholders' equity, beginning balance (in shares) at Oct. 31, 2024		267,845,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through employee equity incentive plans	1,187		1,187
Issuance of common stock through employee equity incentive plans (in shares)		2,841,000
Shares withheld related to net share value settlement of equity awards	(63,592)		(63,592)
Shares withheld related to net share settlement of equity award (in shares)		(962,000)
Repurchase and retirement of common stock	(200,000)		(46,763)		(153,237)
Induced conversion of the 2027 Notes	(9,673)		(9,673)
Repurchase and retirement of common stock (in shares)		(3,087,000)
Stock-based compensation	93,428		93,428
Other comprehensive income	(155)			(155)
Net Income (Loss)	56,427				56,427
Stockholders' equity, ending balance at Jan. 31, 2025	$ (807,674)	$ 7	$ 4,120,529	$ 404	$ (4,928,614)
Stockholders' equity, ending balance (in shares) at Jan. 31, 2025		266,637,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jan. 31, 2025	Jan. 31, 2024
Cash flows from operating activities:
Net Income (Loss)		$ 86,353	$ 16,942
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		36,427	36,389
Stock-based compensation		182,177	169,967
Amortization of debt discount and issuance costs		1,185	22,300
Operating lease cost, net of accretion		13,962	16,046
Non-cash interest expense		0	10,064
Inducement expense from partial repurchase of the 2027 Notes		11,347	0
Other		(2,130)	(8,859)
Changes in operating assets and liabilities:
Accounts receivable, net		(72,745)	(19,662)
Deferred commissions		20,577	4,830
Prepaid expenses and other assets		(5,833)	40,575
Accounts payable		(334)	8,695
Accrued compensation and benefits		7,792	34,158
Accrued expenses and other liabilities		(1,680)	(86,009)
Operating leases, net		(15,754)	(14,884)
Deferred revenue		122,077	101,329
Net cash provided by operating activities		383,421	331,881
Cash flows from investing activities:
Maturities of investments		162,139	429,219
Purchases of investments		(493,156)	(455,254)
Payments for acquisitions, net of cash acquired		0	(4,500)
Purchases of property and equipment		(44,438)	(36,784)
Net cash used in investing activities		(375,455)	(67,319)
Cash flows from financing activities:
Proceeds from sales of shares through employee equity incentive plans		29,300	15,153
Taxes paid related to net share settlement of equity awards		(148,194)	(53,180)
Proceeds from the issuance of convertible notes, net of issuance costs		848,010	0
Payment of third-party debt issuance costs		(2,771)	0
Partial repurchase of the 2027 Notes		(95,453)	0
Repurchases of common stock		(220,100)	(59,192)
Payment of finance lease obligations		(1,945)	(1,758)
Net cash (used in) provided by financing activities		408,847	(98,977)
Net increase in cash, cash equivalents and restricted cash		416,813	165,585
Cash, cash equivalents and restricted cash—beginning of period		655,662	515,771
Cash, cash equivalents and restricted cash—end of period		1,072,475	681,356
Restricted cash	[1]	314	2,110
Cash and cash equivalents—end of period		1,072,161	679,246
Supplemental disclosures of cash flow information:
Cash paid for income taxes		19,283	14,168
Supplemental disclosures of non-cash investing and financing information:
Purchases of property and equipment included in accounts payable and accrued and other liabilities		1,601	1,648
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other liabilities		$ 11,460	$ 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				6 Months Ended
	Jan. 31, 2025	Oct. 31, 2024	Jan. 31, 2024	Oct. 31, 2023	Jan. 31, 2025	Jan. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 56,427	$ 29,926	$ 32,795	$ (15,853)	$ 86,353	$ 16,942

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jan. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Overview and Basis of Presentat

Overview and Basis of Presentation	6 Months Ended
	Jan. 31, 2025
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; 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 and six months ended January 31, 2024 and 2025 , no end customer accounted for more than 10 % of total revenue or accounts receivable except for one end customer that accounted for 11 % of the accounts receivable balance as of January 31, 2025. 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 Six Months Ended July 31, January 31, Partners 2024 2025 2024 2025 Partner A 32 % 25 % 31 % 26 % 12 % 16 % Partner B 16 % 15 % 15 % 15 % 10 % 12 % Partner C (1) 14 % (1) 14 % 16 % (1) Partner D 11 % 10 % 12 % 11 % (1) (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 Adopted Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (the "FASB") issued accounting standards update ("ASU") 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. We early adopted the new standard during the fiscal quarter ended January 31, 2025 and applied it on a prospective basis. Recently Issued and Not Yet Adopted Accounting Pronouncements In November 2023, the FASB issued 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	6 Months Ended
	Jan. 31, 2025
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 our 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 Six Months Ended 2024 2025 2024 2025 (in thousands) Subscription $ 531,983 $ 624,418 $ 1,011,461 $ 1,185,114 Professional services 25,008 28,030 47,843 55,315 Other non-subscription product 8,242 2,273 16,983 5,248 Total revenue $ 565,233 $ 654,721 $ 1,076,287 $ 1,245,677 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 $ 252.6 million and $ 506.0 million of our subscription revenue for the three and six months ended January 31, 2024, respectively, and $ 286.1 million and $ 560.5 million of our subscription revenue for the three and six months ended January 31, 2025, respectively. • 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 $ 279.4 million and $ 505.5 million of our subscription revenue for the three and six months ended January 31, 2024, respectively, and $ 338.3 million and $ 624.6 million of our subscription revenue for the three and six months ended January 31, 2025, respectively. 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 $ 7.0 million and $ 15.2 million of non-portable software revenue for the three and six months ended January 31, 2024, respectively, $ 0.5 million and $ 2.3 million of non-portable software revenue for the three and six months ended January 31, 2025, respectively, $ 1.2 million and $ 1.8 million of hardware revenue for the three and six months ended January 31, 2024, respectively, and $ 1.8 million and $ 2.9 million of hardware revenue for the three and six months ended January 31, 2025, respectively. • 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 $ 64.4 million as of July 31, 2024 and January 31, 2025, 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 January 31, 2025 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 Additions (1) 779,873 60,605 Revenue/commissions recognized ( 654,721 ) ( 61,710 ) Balance as of January 31, 2025 $ 2,019,537 $ 338,234 (1) Includes both billed and unbilled amounts. During the three and six months ended January 31, 2024 , we recognized revenue of approximately $ 243.3 million and $ 449.9 million pertaining to amounts deferred as of October 31, 2023 and July 31, 2023, respectively. During the three and six months ended January 31, 2025 , we recognized revenue of approximately $ 277.3 million and $ 509.4 million pertaining to amounts deferred as of October 31, 2024 and July 31, 2024, respectively. 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 $ 2,336.1 million as of January 31, 2025 , of which we expect to recognize approximately 52 % over the next 12 months, and the remainder thereafter.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 31, 2025
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 January 31, 2025 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 499,853 $ — $ — $ 499,853 U.S. Government securities — 2,997 — 2,997 Commercial paper — 116,981 — 116,981 Corporate bonds — 1,870 — 1,870 Short-term investments: Corporate bonds — 429,791 — 429,791 Commercial paper — 74,743 — 74,743 U.S. Government securities — 166,152 — 166,152 Total measured at fair value $ 499,853 $ 792,534 $ — $ 1,292,387 Cash 450,460 Total cash, cash equivalents and short-term investments $ 1,742,847 Financial Assets, Non-Current: Convertible note receivable $ — $ — $ 5,280 $ 5,280 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") and the 0.50 % convertible senior notes due 2029 (the "2029 Notes") (collectively, the "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 January 31, 2025 Carrying Estimated Carrying Estimated (in thousands) 2027 Notes $ 570,073 $ 631,178 $ 496,387 $ 656,875 2029 Notes — — 845,001 899,053 Total $ 570,073 $ 631,178 $ 1,341,388 $ 1,555,928 The carrying value of the 2027 Notes as of July 31, 2024 and January 31, 2025 was net of unamortized debt issuance costs of $ 4.9 million and $ 3.6 million, respectively. The carrying value of the 2029 Notes as of January 31, 2025 was net of unamortized debt issuance costs of $ 17.5 million. The total estimated fair values of the Notes were determined based on the closing trading price per $ 100 of the Notes as of the last day of trading for the period. We consider the fair values of the Notes to be Level II valuations due to the limited trading activity.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jan. 31, 2025
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 January 31, 2025, 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 January 31, 2025, 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 $ 320,352 Due in one to three years 350,334 Total $ 670,686 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consists of the following: As of July 31, January 31, (in thousands) Prepaid operating expenses $ 62,815 $ 71,717 VAT receivables 8,017 8,189 Other current assets 26,475 32,017 Total prepaid expenses and other current assets $ 97,307 $ 111,923 Property and Equipment, Net Property and equipment, net consists of the following: As of Estimated July 31, January 31, (in months) (in thousands) Computer, production, engineering and other equipment 36 $ 421,559 $ 436,485 Demonstration units 12 59,570 59,101 Leasehold improvements (1) 64,607 64,464 Software (2) 29,014 28,952 Furniture and fixtures 60 16,169 14,288 Total property and equipment, gross 590,919 603,290 Less: accumulated depreciation ( 454,739 ) ( 464,537 ) Total property and equipment, net $ 136,180 $ 138,753 (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 approximately $ 16.4 million and $ 32.5 million for the three and six months ended January 31, 2024 , respectively, and $ 16.4 million and $ 32.8 million for the three and six months ended January 31, 2025 respectively. Goodwill and Intangible Assets, Net There was no change in the carrying value of goodwill during the six months ended January 31, 2025. Intangible assets, net consists of the following: As of July 31, January 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 ) ( 78,338 ) Accumulated amortization of customer relationships ( 9,111 ) ( 9,287 ) Accumulated amortization of trade name ( 4,200 ) ( 4,200 ) Total accumulated amortization ( 90,115 ) ( 91,825 ) Total intangible assets, net $ 5,153 $ 3,443 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 six months) $ 830 2026 777 2027 777 2028 353 2029 353 Thereafter 353 Total $ 3,443 Accrued Compensation and Benefits Accrued compensation and benefits consists of the following: As of July 31, January 31, (in thousands) Accrued commissions and taxes $ 40,714 $ 40,826 Contributions to ESPP withheld 24,676 31,655 Payroll taxes payable 31,797 31,311 Accrued vacation 26,772 27,704 Accrued bonus 17,863 21,356 Accrued wages and taxes 16,255 20,403 Accrued benefits 16,580 15,395 Retirement 401(k) payable 701 1,125 Other 20,244 13,265 Total accrued compensation and benefits $ 195,602 $ 203,040

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jan. 31, 2025
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"). 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 their 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 Six Months Ended 2024 2025 2024 2025 (in thousands) Interest expense related to amortization of debt discount $ 9,747 $ — $ 19,324 $ — Interest expense related to amortization of debt issuance 1,114 — 2,208 — Non-cash interest expense 5,047 — 10,064 — Total interest expense $ 15,908 $ — $ 31,596 $ — 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 $ 575.0 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") and (ii) approximately $ 97.7 million principal amount of 2027 Notes for cash. In December 2024, we issued $ 862.5 million in aggregate principal amount of 0.50 % convertible senior notes due 2029, discussed below. We used approximately $ 95.5 million of the net proceeds from the offering to repurchase $ 75.0 million aggregate principal amount of the outstanding 2027 Notes. The repurchase of $ 75.0 million aggregate principal amount of the outstanding 2027 Notes for approximately $ 95.5 million was accounted for as an induced conversion in accordance with ASU 2024-04. The induced conversion resulted in the recognition of an inducement expense of $ 11.3 million within other income (expense), net in the condensed consolidated statement of operations and a reduction to equity of $ 9.7 million. As of January 31, 2025, we had outstanding $ 500.0 million aggregate principal amount of the 2027 Notes. 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 2027 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 any or all of 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, but only with respect to the 2027 Notes called (or deemed called) for redemption; 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, January 31, (in thousands) Principal amounts: Principal $ 575,000 $ 575,000 Repayment of principal — ( 75,000 ) Unamortized debt issuance costs (1) ( 4,927 ) ( 3,613 ) Net carrying amount $ 570,073 $ 496,387 (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 January 31, 2025, the remaining life of the 2027 Notes was approximately 2.7 years . The following table sets forth the total interest expense recognized related to the 2027 Notes: Three Months Ended Six Months Ended 2024 2025 2024 2025 (in thousands) Contractual interest expense $ 359 $ 336 $ 634 $ 695 Interest expense related to amortization of debt issuance 384 361 768 747 Total interest expense $ 743 $ 697 $ 1,402 $ 1,442 2029 Notes In December 2024, we issued $ 862.5 million in aggregate principal amount of 0.50 % convertible senior notes due 2029, including the exercise in full by the initial purchasers of the 2029 Notes of their option to purchase an additional $ 112.5 million principal amount, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The total net proceeds from the offering were approximately $ 844.6 million, after deducting the initial purchasers’ discount and other debt issuance costs. We used approximately $ 95.5 million of the net proceeds from the offering to repurchase $ 75.0 million aggregate principal amount of the outstanding 2027 Notes and approximately $ 200.0 million of the net proceeds from the offering to repurchase approximately 3.1 million shares of our Class A common stock. The 2029 Notes bear interest at a rate of 0.50 % per annum, payable semi-annually in arrears on each June 15 and December 15, beginning June 15, 2025. The 2029 Notes will mature on December 15, 2029, unless earlier converted, redeemed or repurchased. The 2029 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 2029 Notes is initially convertible into 11.6505 shares of our Class A common stock, which is equivalent to an initial conversion price of approximately $ 85.83 per share, subject to customary anti-dilution adjustments. Holders of these 2029 Notes may convert them at their option at any time prior to the close of the business day immediately preceding September 15, 2029, only under the following circumstances: (1) during any fiscal quarter commencing after April 30, 2025, 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 2029 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 2029 Notes 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 any or all of the 2029 Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date, but only with respect to the 2029 Notes called (or deemed called) for redemption; or (4) upon the occurrence of certain specified corporate events Upon conversion of the 2029 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 2029 Notes in connection with certain corporate events that constitute a "make-whole fundamental change" (as defined in the indenture governing the 2029 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 2029 Notes) prior to the maturity date, holders of the 2029 Notes may require us to repurchase for cash all or a portion of their 2029 Notes at a repurchase price equal to 100 % of the principal amount of the repurchased 2029 Notes, plus accrued and unpaid interest thereon. The 2029 Notes consisted of the following: As of January 31, (in thousands) Principal amounts: Principal $ 862,500 Unamortized debt issuance costs (1) ( 17,499 ) Net carrying amount $ 845,001 (1) Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2029 Notes using the effective interest rate method. The effective interest rate is 0.93 %. As of January 31, 2025, the remaining life of the 2029 Notes was approximately 4.9 years . The following table sets forth the total interest expense recognized related to the 2029 Notes: Three Months Ended Six Months Ended 2025 2025 (in thousands) Contractual interest expense $ 539 $ 539 Interest expense related to amortization of debt issuance 438 438 Total interest expense $ 977 $ 977

Leases

Leases	6 Months Ended
	Jan. 31, 2025
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 approximately $ 10.0 million and $ 19.5 million for the three and six months ended January 31, 2024 , respectively, and $ 9.1 million and $ 18.1 million for the three and six months ended January 31, 2025 , respectively, 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 approximately $ 1.2 million and $ 2.3 million for the three and six months ended January 31, 2024 , respectively, and $ 1.1 million and $ 2.3 million for the three and six months ended January 31, 2025, respectively. Supplemental balance sheet information related to our leases is as follows: As of July 31, January 31, (in thousands) Operating leases: Operating lease right-of-use assets, gross $ 180,843 $ 193,397 Accumulated amortization ( 71,710 ) ( 81,346 ) Operating lease right-of-use assets, net $ 109,133 $ 112,051 Operating lease liabilities—current $ 24,163 $ 21,819 Operating lease liabilities—non-current 90,359 93,828 Total operating lease liabilities $ 114,522 $ 115,647 Weighted average remaining lease term (in years): 4.8 4.6 Weighted average discount rate: 6.4 % 6.4 % As of July 31, January 31, (in thousands) Finance leases: Finance lease right-of-use assets, gross (1) $ 19,345 $ 19,345 Accumulated amortization (1) ( 9,412 ) ( 11,349 ) Finance lease right-of-use assets , net (1) $ 9,933 $ 7,996 Finance lease liabilities—current (2) $ 3,954 $ 4,000 Finance lease liabilities—non-current (3) 6,666 4,677 Total finance lease liabilities $ 10,620 $ 8,677 Weighted average remaining lease term (in years): 2.9 2.5 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 Six Months Ended 2024 2025 2024 2025 (in thousands) Cash paid for amounts included in the measurement of Operating cash flows from operating leases $ 9,921 $ 9,619 $ 20,038 $ 19,643 Operating cash flows from finance leases $ 221 $ 164 $ 442 $ 345 Financing cash flows from finance leases $ 870 $ 981 $ 1,729 $ 1,945 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 9,185 $ 496 $ 19,805 $ 16,893 Finance leases $ 685 $ — $ 685 $ — The undiscounted cash flows for our lease liabilities as of January 31, 2025 were as follows: Fiscal Year Ending July 31: Operating Finance Total (in thousands) 2025 (remaining six months) $ 11,956 $ 2,288 $ 14,244 2026 29,226 3,874 33,100 2027 27,845 2,164 30,009 2028 27,089 1,153 28,242 2029 21,546 41 21,587 Thereafter 17,821 — 17,821 Total lease payments 135,483 9,520 145,003 Less: imputed interest ( 19,836 ) ( 843 ) ( 20,679 ) Total lease obligation 115,647 8,677 124,324 Less: current lease obligations ( 21,819 ) ( 4,000 ) ( 25,819 ) Long-term lease obligations $ 93,828 $ 4,677 $ 98,505 As of January 31, 2025 , we had additional operating lease commitments of approximately $ 24.4 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	6 Months Ended
	Jan. 31, 2025
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 January 31, 2025, we had approximately $ 127.9 million of non-cancelable purchase obligations and other commitments pertaining to our daily business operations, and approximately $ 85.3 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	6 Months Ended
	Jan. 31, 2025
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 January 31, 2025 , 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 January 31, 2025 , we had 1.0 billion shares of Class A common stock authorized, with a par value of $ 0.000025 per share. As of January 31, 2025 , we had approximately 266.6 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 January 31, 2025, we did no t repurchase any shares of our Class A common stock under this share repurchase program. During the six months ended January 31, 2025, we repurchased approximately 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 approximately $ 20.0 million under this share repurchase program. As of January 31, 2025 , approximately $ 198.9 million remained available for future share repurchases under the authorization. In December 2024, we used approximately $ 200.0 million of the net proceeds from the 2029 Notes offering to repurchase approximately 3.1 million shares of our Class A common stock in privately negotiated transactions at a purchase price equal to $ 64.78 per share. This share repurchase was executed outside of the existing share repurchase program that was authorized by our Board of Directors in August 2023, described above. For additional details on this transaction, refer to Note 5.

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Jan. 31, 2025
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 approximately 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 approximately 12.0 million and 13.3 million shares, respectively, pursuant to these provisions. As of January 31, 2025 , we had reserved approximately 51.6 million shares for the issuance of equity awards under the Stock Plans, of which approximately 30.7 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. In January 2024, the Compensation Committee of our Board of Directors approved the grant of approximately 0.3 million PRSUs to our President and CEO. These PRSUs have a grant date fair value per unit of $ 45.86 and will vest up to 200 % based on achievement of specified annual recurring revenue and free cash flow hurdles over a performance period of approximately 3.6 years, subject to his continuous service as CEO through the vesting date. 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. Additional MSUs have been granted with similar terms, but were not material. In January 2024, the Compensation Committee of our Board of Directors approved the grant of approximately 0.2 million MSUs to our President and CEO. These MSUs have a weighted average grant date fair value of $ 62.85 per unit and will vest up to 200 % based on achievement of specified stock price hurdles at any time during a performance period of approximately 3.6 years, subject to his continuous service as CEO through the 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 per unit 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. Additional MSUs have been granted with similar terms, but were not material. 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 5,001 $ 60.37 711 $ 86.81 Released ( 5,142 ) $ 29.10 ( 1,140 ) $ 42.46 Forfeited ( 766 ) $ 31.39 ( 67 ) $ 51.95 Outstanding at January 31, 2025 18,954 $ 35.66 1,818 $ 62.62 Stock Options We did no t grant any stock options during the six months ended January 31, 2025 . Approximately 0.2 million stock options were exercised during the six months ended January 31, 2025 , with a weighted average exercise price per share of $ 10.70 . As of January 31, 2025 , approximately 0.1 million stock options, with a weighted average exercise price of $ 12.57 per share, a weighted average remaining contractual life of approximately 0.5 years and an aggregate intrinsic value of approximately $ 4.3 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 six months ended January 31, 2025 , approximately 0.8 million shares of common stock were purchased under the 2016 ESPP for an aggregate amount of approximately $ 49.3 million. As of January 31, 2025 , approximately 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: Six Months Ended January 31, 2024 2025 Expected term (in years) 0.79 0.71 Risk-free interest rate 5.1 % 4.9 % Volatility 48.4 % 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 Six Months Ended 2024 2025 2024 2025 (in thousands) Cost of revenue: Product $ 1,697 $ 812 $ 3,625 $ 2,024 Support, entitlements and other services 7,183 7,325 14,299 14,145 Sales and marketing 20,738 21,397 42,209 42,045 Research and development 40,541 46,765 78,945 90,327 General and administrative 15,810 17,129 30,889 33,636 Total stock-based compensation expense $ 85,969 $ 93,428 $ 169,967 $ 182,177 As of January 31, 2025 , unrecognized stock-based compensation expense related to outstanding stock awards was approximately $ 711.9 million and is expected to be recognized over a weighted average period of approximately 2.3 years.

Income Taxes

Income Taxes	6 Months Ended
	Jan. 31, 2025
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. IN COME TAXES The income tax provisions of $ 6.3 million and $ 11.2 million for the three and six months ended January 31, 2024, respectively, and $ 8.7 million and $ 15.6 million for the three and six months ended January 31, 2025 , respectively, 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	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended 2024 2025 2024 2025 (in thousands, except per share data) Numerator: Net income $ 32,795 $ 56,427 $ 16,942 $ 86,353 Add: Interest expense related to convertible senior 4,271 691 8,451 975 Diluted net income $ 37,066 $ 57,118 $ 25,393 $ 87,328 Denominator: Weighted average shares, basic 243,853 267,138 242,667 266,842 Add: Dilutive effect of common stock equivalents 54,687 26,213 52,184 24,244 Weighted average shares, diluted 298,540 293,351 294,851 291,086 Net income per share attributable to Class A $ 0.13 $ 0.21 $ 0.07 $ 0.32 Net income per share attributable to Class A $ 0.12 $ 0.19 $ 0.09 $ 0.30 The following shares of common stock were excluded from the computation of diluted net income (loss) per share for the periods presented, as their effect would have been antidilutive: Six Months Ended 2024 2025 (in thousands) Outstanding stock options, RSUs and PSUs 536 1,481 Employee stock purchase plan — 129 Total 536 1,610 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.

Segment Information

Segment Information	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended 2024 2025 2024 2025 (in thousands) U.S. $ 308,674 $ 367,275 $ 598,948 $ 700,003 Europe, the Middle East and Africa 151,917 181,348 276,501 332,539 Asia Pacific 93,149 92,205 176,261 188,024 Other Americas 11,493 13,893 24,577 25,111 Total revenue $ 565,233 $ 654,721 $ 1,076,287 $ 1,245,677 The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location: As of July 31, January 31, (in thousands) United States $ 102,873 $ 105,900 International 33,307 32,853 Total long-lived assets $ 136,180 $ 138,753

Subsequent Event

Subsequent Event	6 Months Ended
	Jan. 31, 2025
Subsequent Events [Abstract]
Subsequent Event	NOTE 13. SUBSEQUENT EVENT On February 12, 2025, we entered into a credit agreement (the "Credit Agreement") that provides for a senior secured revolving credit facility in an aggregate principal amount of $ 500.0 million, including a $ 25.0 million sublimit for the issuance of letters of credit. The Credit Agreement matures in February 2030, subject to earlier springing maturity under certain circumstances. Borrowings, if any, under the Credit Agreement will bear interest at a base rate, a term Secured Overnight Financing Rate or an alternative currency term rate, plus, in each case, an applicable margin based upon total leverage ratio. We are required to pay a commitment fee on a quarterly basis equal to 0.175 % to 0.30 % (depending on total leverage ratio) of unused availability under the Credit Agreement. The Credit Agreement contains customary affirmative and negative covenants (including a financial covenant and restrictions on liens, investments, indebtedness, fundamental changes, restricted payments, transactions with affiliates, prepayments of subordinated debt and other matters, all subject to certain exceptions). The financial covenant requires us to maintain a total leverage ratio of less than or equal to 3.75 : 1.00 , tested at the end of each fiscal quarter. As of March 6, 2025, we had no borrowings and an immaterial amount of letters of credit outstanding under the Credit Agreement.

Overview and Basis of Present_2

Overview and Basis of Presentation (Policies)	6 Months Ended
	Jan. 31, 2025
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; 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 and six months ended January 31, 2024 and 2025 , no end customer accounted for more than 10 % of total revenue or accounts receivable except for one end customer that accounted for 11 % of the accounts receivable balance as of January 31, 2025. 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 Six Months Ended July 31, January 31, Partners 2024 2025 2024 2025 Partner A 32 % 25 % 31 % 26 % 12 % 16 % Partner B 16 % 15 % 15 % 15 % 10 % 12 % Partner C (1) 14 % (1) 14 % 16 % (1) Partner D 11 % 10 % 12 % 11 % (1) (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 Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (the "FASB") issued accounting standards update ("ASU") 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. We early adopted the new standard during the fiscal quarter ended January 31, 2025 and applied it on a prospective basis.
Recently Issued and Not Yet Adopted Accounting Pronouncements	Recently Issued and Not Yet Adopted Accounting Pronouncements In November 2023, the FASB issued 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)	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended July 31, January 31, Partners 2024 2025 2024 2025 Partner A 32 % 25 % 31 % 26 % 12 % 16 % Partner B 16 % 15 % 15 % 15 % 10 % 12 % Partner C (1) 14 % (1) 14 % 16 % (1) Partner D 11 % 10 % 12 % 11 % (1) (1) (1) Less than 10%

Revenue, Deferred Revenue and_2

Revenue, Deferred Revenue and Deferred Commissions (Tables)	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended 2024 2025 2024 2025 (in thousands) Subscription $ 531,983 $ 624,418 $ 1,011,461 $ 1,185,114 Professional services 25,008 28,030 47,843 55,315 Other non-subscription product 8,242 2,273 16,983 5,248 Total revenue $ 565,233 $ 654,721 $ 1,076,287 $ 1,245,677
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 Additions (1) 779,873 60,605 Revenue/commissions recognized ( 654,721 ) ( 61,710 ) Balance as of January 31, 2025 $ 2,019,537 $ 338,234 (1) Includes both billed and unbilled amounts.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jan. 31, 2025
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 January 31, 2025 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 499,853 $ — $ — $ 499,853 U.S. Government securities — 2,997 — 2,997 Commercial paper — 116,981 — 116,981 Corporate bonds — 1,870 — 1,870 Short-term investments: Corporate bonds — 429,791 — 429,791 Commercial paper — 74,743 — 74,743 U.S. Government securities — 166,152 — 166,152 Total measured at fair value $ 499,853 $ 792,534 $ — $ 1,292,387 Cash 450,460 Total cash, cash equivalents and short-term investments $ 1,742,847 Financial Assets, Non-Current: Convertible note receivable $ — $ — $ 5,280 $ 5,280 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 January 31, 2025 Carrying Estimated Carrying Estimated (in thousands) 2027 Notes $ 570,073 $ 631,178 $ 496,387 $ 656,875 2029 Notes — — 845,001 899,053 Total $ 570,073 $ 631,178 $ 1,341,388 $ 1,555,928

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jan. 31, 2025
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 $ 320,352 Due in one to three years 350,334 Total $ 670,686
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consists of the following: As of July 31, January 31, (in thousands) Prepaid operating expenses $ 62,815 $ 71,717 VAT receivables 8,017 8,189 Other current assets 26,475 32,017 Total prepaid expenses and other current assets $ 97,307 $ 111,923
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: As of Estimated July 31, January 31, (in months) (in thousands) Computer, production, engineering and other equipment 36 $ 421,559 $ 436,485 Demonstration units 12 59,570 59,101 Leasehold improvements (1) 64,607 64,464 Software (2) 29,014 28,952 Furniture and fixtures 60 16,169 14,288 Total property and equipment, gross 590,919 603,290 Less: accumulated depreciation ( 454,739 ) ( 464,537 ) Total property and equipment, net $ 136,180 $ 138,753 (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, January 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 ) ( 78,338 ) Accumulated amortization of customer relationships ( 9,111 ) ( 9,287 ) Accumulated amortization of trade name ( 4,200 ) ( 4,200 ) Total accumulated amortization ( 90,115 ) ( 91,825 ) Total intangible assets, net $ 5,153 $ 3,443
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 six months) $ 830 2026 777 2027 777 2028 353 2029 353 Thereafter 353 Total $ 3,443
Schedule of Accrued Liabilities	Accrued Compensation and Benefits Accrued compensation and benefits consists of the following: As of July 31, January 31, (in thousands) Accrued commissions and taxes $ 40,714 $ 40,826 Contributions to ESPP withheld 24,676 31,655 Payroll taxes payable 31,797 31,311 Accrued vacation 26,772 27,704 Accrued bonus 17,863 21,356 Accrued wages and taxes 16,255 20,403 Accrued benefits 16,580 15,395 Retirement 401(k) payable 701 1,125 Other 20,244 13,265 Total accrued compensation and benefits $ 195,602 $ 203,040

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended 2024 2025 2024 2025 (in thousands) Interest expense related to amortization of debt discount $ 9,747 $ — $ 19,324 $ — Interest expense related to amortization of debt issuance 1,114 — 2,208 — Non-cash interest expense 5,047 — 10,064 — Total interest expense $ 15,908 $ — $ 31,596 $ —
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Interest Expense Recognized	The following table sets forth the total interest expense recognized related to the 2027 Notes: Three Months Ended Six Months Ended 2024 2025 2024 2025 (in thousands) Contractual interest expense $ 359 $ 336 $ 634 $ 695 Interest expense related to amortization of debt issuance 384 361 768 747 Total interest expense $ 743 $ 697 $ 1,402 $ 1,442
Components of Notes	The 2027 Notes consisted of the following: As of July 31, January 31, (in thousands) Principal amounts: Principal $ 575,000 $ 575,000 Repayment of principal — ( 75,000 ) Unamortized debt issuance costs (1) ( 4,927 ) ( 3,613 ) Net carrying amount $ 570,073 $ 496,387 (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 %.
2029 Convertible Senior Notes
Debt Instrument [Line Items]
Interest Expense Recognized	The following table sets forth the total interest expense recognized related to the 2029 Notes: Three Months Ended Six Months Ended 2025 2025 (in thousands) Contractual interest expense $ 539 $ 539 Interest expense related to amortization of debt issuance 438 438 Total interest expense $ 977 $ 977
Components of Notes	The 2029 Notes consisted of the following: As of January 31, (in thousands) Principal amounts: Principal $ 862,500 Unamortized debt issuance costs (1) ( 17,499 ) Net carrying amount $ 845,001 (1) Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2029 Notes using the effective interest rate method. The effective interest rate is 0.93 %.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 31, 2025
Leases [Abstract]
Assets and Liabilities, Lessee	Supplemental balance sheet information related to our leases is as follows: As of July 31, January 31, (in thousands) Operating leases: Operating lease right-of-use assets, gross $ 180,843 $ 193,397 Accumulated amortization ( 71,710 ) ( 81,346 ) Operating lease right-of-use assets, net $ 109,133 $ 112,051 Operating lease liabilities—current $ 24,163 $ 21,819 Operating lease liabilities—non-current 90,359 93,828 Total operating lease liabilities $ 114,522 $ 115,647 Weighted average remaining lease term (in years): 4.8 4.6 Weighted average discount rate: 6.4 % 6.4 % As of July 31, January 31, (in thousands) Finance leases: Finance lease right-of-use assets, gross (1) $ 19,345 $ 19,345 Accumulated amortization (1) ( 9,412 ) ( 11,349 ) Finance lease right-of-use assets , net (1) $ 9,933 $ 7,996 Finance lease liabilities—current (2) $ 3,954 $ 4,000 Finance lease liabilities—non-current (3) 6,666 4,677 Total finance lease liabilities $ 10,620 $ 8,677 Weighted average remaining lease term (in years): 2.9 2.5 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 Six Months Ended 2024 2025 2024 2025 (in thousands) Cash paid for amounts included in the measurement of Operating cash flows from operating leases $ 9,921 $ 9,619 $ 20,038 $ 19,643 Operating cash flows from finance leases $ 221 $ 164 $ 442 $ 345 Financing cash flows from finance leases $ 870 $ 981 $ 1,729 $ 1,945 Lease liabilities arising from obtaining right-of-use assets: Operating leases $ 9,185 $ 496 $ 19,805 $ 16,893 Finance leases $ 685 $ — $ 685 $ —
Lessee Operating and Finance Lease, Liability, Maturity	The undiscounted cash flows for our lease liabilities as of January 31, 2025 were as follows: Fiscal Year Ending July 31: Operating Finance Total (in thousands) 2025 (remaining six months) $ 11,956 $ 2,288 $ 14,244 2026 29,226 3,874 33,100 2027 27,845 2,164 30,009 2028 27,089 1,153 28,242 2029 21,546 41 21,587 Thereafter 17,821 — 17,821 Total lease payments 135,483 9,520 145,003 Less: imputed interest ( 19,836 ) ( 843 ) ( 20,679 ) Total lease obligation 115,647 8,677 124,324 Less: current lease obligations ( 21,819 ) ( 4,000 ) ( 25,819 ) Long-term lease obligations $ 93,828 $ 4,677 $ 98,505

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Jan. 31, 2025
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 5,001 $ 60.37 711 $ 86.81 Released ( 5,142 ) $ 29.10 ( 1,140 ) $ 42.46 Forfeited ( 766 ) $ 31.39 ( 67 ) $ 51.95 Outstanding at January 31, 2025 18,954 $ 35.66 1,818 $ 62.62
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: Six Months Ended January 31, 2024 2025 Expected term (in years) 0.79 0.71 Risk-free interest rate 5.1 % 4.9 % Volatility 48.4 % 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 Six Months Ended 2024 2025 2024 2025 (in thousands) Cost of revenue: Product $ 1,697 $ 812 $ 3,625 $ 2,024 Support, entitlements and other services 7,183 7,325 14,299 14,145 Sales and marketing 20,738 21,397 42,209 42,045 Research and development 40,541 46,765 78,945 90,327 General and administrative 15,810 17,129 30,889 33,636 Total stock-based compensation expense $ 85,969 $ 93,428 $ 169,967 $ 182,177

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended 2024 2025 2024 2025 (in thousands, except per share data) Numerator: Net income $ 32,795 $ 56,427 $ 16,942 $ 86,353 Add: Interest expense related to convertible senior 4,271 691 8,451 975 Diluted net income $ 37,066 $ 57,118 $ 25,393 $ 87,328 Denominator: Weighted average shares, basic 243,853 267,138 242,667 266,842 Add: Dilutive effect of common stock equivalents 54,687 26,213 52,184 24,244 Weighted average shares, diluted 298,540 293,351 294,851 291,086 Net income per share attributable to Class A $ 0.13 $ 0.21 $ 0.07 $ 0.32 Net income per share attributable to Class A $ 0.12 $ 0.19 $ 0.09 $ 0.30
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 income (loss) per share for the periods presented, as their effect would have been antidilutive: Six Months Ended 2024 2025 (in thousands) Outstanding stock options, RSUs and PSUs 536 1,481 Employee stock purchase plan — 129 Total 536 1,610

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jan. 31, 2025
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 Six Months Ended 2024 2025 2024 2025 (in thousands) U.S. $ 308,674 $ 367,275 $ 598,948 $ 700,003 Europe, the Middle East and Africa 151,917 181,348 276,501 332,539 Asia Pacific 93,149 92,205 176,261 188,024 Other Americas 11,493 13,893 24,577 25,111 Total revenue $ 565,233 $ 654,721 $ 1,076,287 $ 1,245,677
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, January 31, (in thousands) United States $ 102,873 $ 105,900 International 33,307 32,853 Total long-lived assets $ 136,180 $ 138,753

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		6 Months Ended		12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024	Jul. 31, 2024
Partner A | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	25%	32%	26%	31%
Partner A | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			16%		12%
Partner B | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	15%	16%	15%	15%
Partner B | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			12%		10%
Partner C | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	14%		14%
Partner C | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage					16%
Partner D | Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10%	11%	11%	12%

Overview and Basis of Present_5

Overview and Basis of Presentation - Additional Information (Details)	3 Months Ended	6 Months Ended
	Jan. 31, 2024	Jan. 31, 2025	Dec. 31, 2024
Partner [Member] | Customer Concentration Risk [Member] | Revenue
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration risk percentage	10%	10%
Partner [Member] | Customer Concentration Risk [Member] | Accounts Receivable
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration risk percentage		11%
Convertible Debt [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Interest rate, stated percentage		0.25%	0.50%

Revenue, Deferred Revenue and_3

Revenue, Deferred Revenue and Deferred Commissions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024	Jul. 31, 2024
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 654,721	$ 565,233	$ 1,245,677	$ 1,076,287
Unbilled Contracts Receivable	64,400		64,400		$ 41,100
Amount deferred in prior period	277,300	243,300	509,400	449,900
Contracted revenue not recognized	$ 2,336,100		$ 2,336,100
Percent expected to be recognized in next year	52%		52%
Ratable
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 286,100	252,600	$ 560,500	506,000
Upfront
Deferred Revenue Arrangement [Line Items]
Total revenue	338,300	279,400	624,600	505,500
Non-portable software
Deferred Revenue Arrangement [Line Items]
Total revenue	500	7,000	2,300	15,200
Hardware
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 1,800	$ 1,200	$ 2,900	$ 1,800
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		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 654,721	$ 565,233	$ 1,245,677	$ 1,076,287
Subscription
Condensed Income Statements, Captions [Line Items]
Total revenue	624,418	531,983	1,185,114	1,011,461
Professional services
Condensed Income Statements, Captions [Line Items]
Total revenue	28,030	25,008	55,315	47,843
Other non-subscription product
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 2,273	$ 8,242	$ 5,248	$ 16,983

Revenue, Deferred Revenue and_5

Revenue, Deferred Revenue and Deferred Commissions - Deferred Revenue, by Arrangement, Disclosure (Details) - USD ($) $ in Thousands		3 Months Ended
		Jan. 31, 2025	Oct. 31, 2024
Movement in Deferred Commissions [Roll Forward]
Deferred commissions, beginning balance		$ 339,339	$ 358,811
Additions	[1]	60,605	39,274
Revenue/commissions recognized		(61,710)	(58,746)
Deferred commissions, ending balance		338,234	339,339
Deferred revenue, beginning balance		1,894,385	1,872,706
Additions	[1]	779,873	612,635
Revenue/commissions recognized		(654,721)	(590,956)
Deferred revenue, ending balance		$ 2,019,537	$ 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	Jan. 31, 2025	Jul. 31, 2024
Financial Assets:
Short-term investments:	$ 670,686	$ 339,072
Recurring
Financial Assets:
Total measured at fair value	1,292,387	693,213
Cash	450,460	301,129
Total cash, cash equivalents and short-term investments	1,742,847	994,342
Recurring | Corporate bonds
Financial Assets:
Cash equivalents:	1,870
Short-term investments:	429,791	233,065
Recurring | Money market funds
Financial Assets:
Cash equivalents:	499,853	352,295
Recurring | Commercial paper
Financial Assets:
Cash equivalents:	116,981	1,747
Short-term investments:	74,743	33,770
Recurring | U.S. government securities
Financial Assets:
Cash equivalents:	166,152	99
Short-term investments:	2,997	72,237
Recurring | Convertible Note Receivable
Financial Assets:
Assets, Noncurrent, Total	5,280	5,150
Recurring | Level I
Financial Assets:
Total measured at fair value	499,853	352,295
Recurring | Level I | Corporate bonds
Financial Assets:
Short-term investments:	0	0
Recurring | Level I | Money market funds
Financial Assets:
Cash equivalents:	499,853	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	792,534	340,918
Recurring | Level II | Corporate bonds
Financial Assets:
Cash equivalents:	1,870
Short-term investments:	429,791	233,065
Recurring | Level II | Money market funds
Financial Assets:
Cash equivalents:	0	0
Recurring | Level II | Commercial paper
Financial Assets:
Cash equivalents:	116,981	1,747
Short-term investments:	74,743	33,770
Recurring | Level II | U.S. government securities
Financial Assets:
Cash equivalents:	166,152	99
Short-term investments:	2,997	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	$ 5,280	$ 5,150

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jan. 31, 2025	Dec. 31, 2024	Jul. 31, 2024
Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	0.25%	0.50%
2027 Convertible Senior Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized debt issuance cost	$ 3.6		$ 4.9
Closing trading price	$ 100
2029 Convertible SeniorNotes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	0.50%
2029 Convertible SeniorNotes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized debt issuance cost	$ 17.5

Fair Value Measurements - Non-r

Fair Value Measurements - Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - Convertible Debt - USD ($) $ in Thousands	Jan. 31, 2025	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	$ 1,341,388	$ 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	1,555,928	631,178
2027 Convertible Senior Notes | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	496,387	570,073
2027 Convertible Senior Notes | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	656,875	631,178
2029 Convertible SeniorNotes | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	845,001	0
2029 Convertible SeniorNotes | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	$ 899,053	$ 0

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Investments in Marketable Debt Securities, by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]
Due within one year	$ 320,352
Due in one to three years	350,334
Total	$ 670,686	$ 339,072

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid operating expenses	$ 71,717	$ 62,815
VAT receivables	8,189	8,017
Other current assets	32,017	26,475
Total prepaid expenses and other current assets	$ 111,923	$ 97,307

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands		Jan. 31, 2025	Jul. 31, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment, gross		$ 603,290	$ 590,919
Less: accumulated depreciation		(464,537)	(454,739)
Total property and equipment, net		$ 138,753	136,180
Computer, production, engineering and other equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life		36 months
Total property and equipment, gross		$ 436,485	421,559
Demonstration units
Property, Plant and Equipment [Line Items]
Estimated Useful Life		12 months
Total property and equipment, gross		$ 59,101	59,570
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	[1]	64,464	64,607
Software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	[2]	$ 28,952	29,014
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life		60 months
Total property and equipment, gross		$ 14,288	$ 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	Jan. 31, 2025
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		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 16.4	$ 16.4	$ 32.8	$ 32.5

Balance Sheet Components - Sc_5

Balance Sheet Components - Schedule of Goodwill and Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 95,268	$ 95,268
Less:
Total accumulated amortization	(91,825)	(90,115)
Total intangible assets, net	3,443	5,153
Developed technology
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	79,838	79,838
Less:
Total accumulated amortization	(78,338)	(76,804)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	11,230	11,230
Less:
Total accumulated amortization	(9,287)	(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	Jan. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (remaining six months)	$ 830
2026	777
2027	777
2028	353
2029	353
Thereafter	353
Total	$ 3,443

Balance Sheet Components - Sc_7

Balance Sheet Components - Schedule of Accrued Compensation Benefits (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Employee-related Liabilities, Current [Abstract]
Accrued commissions and taxes	$ 40,826	$ 40,714
Contributions to ESPP withheld	31,655	24,676
Payroll taxes payable	31,311	31,797
Accrued vacation	27,704	26,772
Accrued bonus	21,356	17,863
Accrued wages and taxes	20,403	16,255
Accrued benefits	15,395	16,580
Retirement 401(k) payable	1,125	701
Other	13,265	20,244
Total accrued compensation and benefits	$ 203,040	$ 195,602

Balance Sheet Components - Sc_8

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Other Liabilities Disclosure [Abstract]
Total accrued expenses and other current liabilities	$ 22,428	$ 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		6 Months Ended
	Jun. 06, 2024 USD ($)	Dec. 31, 2024 USD ($) PurchasePeriod $ / shares shares	Sep. 30, 2021 USD ($) PurchasePeriod $ / shares	Jan. 31, 2025 USD ($)	Jan. 31, 2024 USD ($)	Jan. 31, 2025 USD ($)	Jan. 31, 2024 USD ($)	Jul. 31, 2024 USD ($)	Sep. 30, 2020 USD ($)	Sep. 24, 2020
Debt Instrument [Line Items]
Other income (expense), net				$ (355)	$ 2,096	$ 9,218	$ (3,179)
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%		0.25%
Principal			$ 1,000
Repurchase amount		$ 75,000
2029 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage				0.50%		0.50%
Principal		$ 1,000
Convertible Debt
Debt Instrument [Line Items]
Interest rate, stated percentage		0.50%		0.25%		0.25%
Debt Instrument Conversion For Cash		$ 95,500
Repurchase amount		75,000
Other income (expense), net		11,300
Reduction in Equity		9,700
Convertible Debt | 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			0%
Convertible debt			$ 416,500
Convertible Debt | 2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage				2.50%		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%
Face amount		862,500	$ 575,000	$ 500,000		$ 500,000
Debt Instrument Conversion For Cash		95,500
Principal				575,000		$ 575,000		$ 575,000
Convertible debt			477,300
Notes for cash			$ 97,700
Repurchase an additional principal amount, in a offering		75,000
Net proceeds from the offering		$ 95,500
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 8 months 12 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 | Maximum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger			98%
Convertible Debt | 2029 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		0.50%
Face amount		$ 862,500
Principal				$ 862,500		$ 862,500
Repurchase an additional principal amount, in a offering		112,500
Net proceeds from the offering		$ 844,600
Conversion ratio		11.6505
Conversion price (in dollars per share) | $ / shares		$ 85.83
Threshold trading days | PurchasePeriod		20
Threshold consecutive trading days | PurchasePeriod		30
Redemption price, percentage		100%
Debt instrument, term						4 years 10 months 24 days
Debt instrument, principal amount for conversion into common stock		$ 1,000
Convertible Debt | 2029 Convertible Senior Notes | Minimum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger		130%
Convertible Debt | 2029 Convertible Senior Notes | Common Class A
Debt Instrument [Line Items]
Repurchase amount		$ 200,000
Number of share repurchase | shares		3.1
Convertible Debt | 2029 Convertible Senior Notes | Common Class A | Maximum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger		98%

Convertible Senior Notes - Comp

Convertible Senior Notes - Components of Debt (Details) - USD ($) $ in Thousands		Jan. 31, 2025	Dec. 31, 2024	Jul. 31, 2024	Sep. 30, 2021
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Principal					$ 1,000
2029 Convertible Senior Notes
Debt Instrument [Line Items]
Principal			$ 1,000
Convertible Debt | 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Principal		$ 575,000		$ 575,000
Repayment of principal	[1]	(75,000)		0
Unamortized debt issuance costs		(3,613)		(4,927)
Net carrying amount		496,387		$ 570,073
Convertible Debt | 2029 Convertible Senior Notes
Debt Instrument [Line Items]
Principal		862,500
Unamortized debt issuance costs	[2]	(17,499)
Net carrying amount		$ 845,001
[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 %. Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2029 Notes using the effective interest rate method. The effective interest rate is 0.93 %.

Convertible Senior Notes - Co_2

Convertible Senior Notes - Components of Notes (Parenthetical) (Details) - Convertible Debt	Jan. 31, 2025
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate	0.52%
2029 Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate	0.93%

Convertible Senior Notes - Inte

Convertible Senior Notes - Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Debt Instrument [Line Items]
Non-cash interest expense			$ 0	$ 10,064
Convertible Debt | 2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest expense related to amortization of debt discount	$ 0	$ 9,747	0	19,324
Interest expense related to amortization of debt issuance costs	0	1,114	0	2,208
Non-cash interest expense	0	5,047	0	10,064
Total interest expense	0	15,908	0	31,596
Convertible Debt | 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Contractual interest expense	336	359	695	634
Interest expense related to amortization of debt issuance costs	361	384	747	768
Total interest expense	697	$ 743	1,442	$ 1,402
Convertible Debt | 2029 Convertible Senior Notes
Debt Instrument [Line Items]
Contractual interest expense	539		539
Interest expense related to amortization of debt issuance costs	438		438
Total interest expense	$ 977		$ 977

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 9.1	$ 10	$ 18.1	$ 19.5
Finance lease, cost	1.1	$ 1.2	2.3	$ 2.3
Lease not yet commenced, undiscounted amount	$ 24.4		$ 24.4
Lease not yet commenced, term of contract	5 years		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		Jan. 31, 2025	Jul. 31, 2024
Operating leases
Operating lease right-of-use assets, gross		$ 193,397	$ 180,843
Accumulated amortization		(81,346)	(71,710)
Operating lease right-of-use assets, net		112,051	109,133
Operating lease liabilities—current		21,819	24,163
Operating lease liabilities—non-current		93,828	90,359
Total operating lease liabilities		$ 115,647	$ 114,522
Weighted average remaining lease term (in years)		4 years 7 months 6 days	4 years 9 months 18 days
Weighted average discount rate		6.40%	6.40%
Finance leases
Finance lease right-of-use assets, gross	[1]	$ 19,345	$ 19,345
Accumulated amortization	[1]	(11,349)	(9,412)
Finance lease right-of-use assets, net	[1]	7,996	9,933
Finance lease liabilities-current	[2]	4,000	3,954
Finance lease liabilities-non-current	[3]	4,677	6,666
Total lease obligation		$ 8,677	$ 10,620
Weighted average remaining lease term (in years)		2 years 6 months	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		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Leases [Abstract]
Operating cash flows from operating leases	$ 9,619	$ 9,921	$ 19,643	$ 20,038
Operating cash flows from finance leases	164	221	345	442
Financing cash flows from finance leases	981	870	1,945	1,729
Lease liabilities arising from obtaining right-of-use assets from operating leases	496	9,185	16,893	19,805
Lease liabilities arising from obtaining right-of-use assets from finance leases	$ 0	$ 685	$ 0	$ 685

Leases - Remaining Maturity Und

Leases - Remaining Maturity Under Topic 842 (Details) - USD ($) $ in Thousands		Jan. 31, 2025	Jul. 31, 2024
Operating Leases
2025 (remaining six months)		$ 11,956
2026		21,546
2027		27,845
2028		27,089
2029		29,226
Thereafter		17,821
Total lease payments		135,483
Less: imputed interest		(19,836)
Total lease obligation		115,647	$ 114,522
Less: current lease obligations		(21,819)	(24,163)
Long-term lease obligations		93,828	90,359
Finance leases
2025 (remaining nine months)		2,288
2026		41
2027		2,164
2028		1,153
2029		3,874
Thereafter		0
Total lease payments		9,520
Less: imputed interest		(843)
Total lease obligation		8,677	10,620
Less: current lease obligations	[1]	(4,000)	(3,954)
Long-term lease obligations	[2]	4,677	$ 6,666
Total
2025 (remaining nine months)		14,244
2026		21,587
2027		30,009
2028		28,242
2029		33,100
Thereafter		17,821
Total lease payments		145,003
Less: imputed interest		(20,679)
Total lease obligation		124,324
Less: current lease obligations		(25,819)
Long-term lease obligations		$ 98,505
[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	Jan. 31, 2025 USD ($)
Non-contract Vendors
Loss Contingencies [Line Items]
Purchase obligation	$ 127.9
Contract Manufacturer
Loss Contingencies [Line Items]
Purchase obligation	$ 85.3

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares	Jan. 31, 2025 USD ($) Vote Class $ / shares shares	Jan. 31, 2025 USD ($) Vote Class $ / shares shares	Jan. 31, 2024 USD ($)	Jul. 31, 2024 $ / shares shares	Aug. 31, 2023 USD ($)
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		200,000	200,000
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.000025	$ 0.000025
Preferred stock, shares outstanding (in shares)		0	0
Preferred stock, shares issued (in shares)		0	0
Number of authorized common stock | Class		1	1
Payments for repurchase of common stock | $			$ 220,100	$ 59,192
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		1,000,000,000	1,000,000,000		1,000,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.000025	$ 0.000025		$ 0.000025
Common stock, shares issued (in shares)		266,637,000	266,637,000		265,181,000
Common stock, shares outstanding (in shares)		266,637,000	266,637,000		265,181,000
Common stock number of votes per share | Vote		1	1
Stock repurchase program, authorized amount | $						$ 350,000
Repurchase and retirement of common stock (in shares)		0	300,000
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	$ 198,900
Common Class A [Member] | 2029 Convertible Senior Notes
Class of Stock [Line Items]
Repurchase and retirement of common stock (in shares)	3,100,000
Payments for repurchase of common stock | $	$ 200,000
Purchase price | $ / shares	$ 64.78

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Thousands					1 Months Ended				6 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	Jan. 31, 2024 $ / shares shares	Aug. 31, 2023 $ / shares shares	Sep. 30, 2016 shares	Jan. 31, 2025 USD ($) Plan $ / shares shares	Jan. 31, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)									0
Exercises in period (in shares)									200,000
Weighted average exercise price (in dollars per share) | $ / shares									$ 10.7
Options outstanding (in shares)									100,000
Options, weighted average exercise price | $ / shares									$ 12.57
Contractual term									6 months
Options outstanding, intrinsic value | $									$ 4,300
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 | $									29,300	$ 15,153
Compensation not yet recognized | $									$ 711,900
Period for recognition (in years)									2 years 3 months 18 days
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)									51,600,000
Number of shares available for grant (in shares)									30,700,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)									5,001,000
Granted (in dollars per share) | $ / shares									$ 60.37
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)						200,000	800,000
Granted (in dollars per share) | $ / shares						$ 62.85	$ 47.09
Vesting percentage						200%	200%
Award vesting period						3 years 7 months 6 days	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
Performance Restricted Stock Units | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						300,000
Granted (in dollars per share) | $ / shares						$ 45.86
Vesting percentage						200%
Award vesting period						3 years 7 months 6 days
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	6 Months Ended
	Jan. 31, 2025 $ / shares shares
RSUs
Number of Shares
Outstanding, beginning balance (in shares) | shares	19,861
Granted (in shares) | shares	5,001
Released (in shares) | shares	(5,142)
Forfeited (in shares) | shares	(766)
Outstanding, ending balance (in shares) | shares	18,954
Grant Date Fair Value per Share
Beginning Outstanding (in dollars per share) | $ / shares	$ 27.58
Granted (in dollars per share) | $ / shares	60.37
Released (in dollars per share) | $ / shares	29.1
Forfeited (in dollars per share) | $ / shares	31.39
Ending Outstanding (in dollars per share) | $ / shares	$ 35.66
PSUs
Number of Shares
Outstanding, beginning balance (in shares) | shares	2,314
Granted (in shares) | shares	711
Released (in shares) | shares	(1,140)
Forfeited (in shares) | shares	(67)
Outstanding, ending balance (in shares) | shares	1,818
Grant Date Fair Value per Share
Beginning Outstanding (in dollars per share) | $ / shares	$ 44.94
Granted (in dollars per share) | $ / shares	86.81
Released (in dollars per share) | $ / shares	42.46
Forfeited (in dollars per share) | $ / shares	51.95
Ending Outstanding (in dollars per share) | $ / shares	$ 62.62

Equity Incentive Plans - ESPP (

Equity Incentive Plans - ESPP (Details) - Employee Stock Purchase Plan	6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
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%	48.40%
Dividend yield	0%	0%

Equity Incentive Plans - Stock

Equity Incentive Plans - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 93,428	$ 85,969	$ 182,177	$ 169,967
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	21,397	20,738	42,045	42,209
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	46,765	40,541	90,327	78,945
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	17,129	15,810	33,636	30,889
Product | Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	812	1,697	2,024	3,625
Support, entitlements and other services | Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 7,325	$ 7,183	$ 14,145	$ 14,299

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 8,656	$ 6,346	$ 15,553	$ 11,218

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				6 Months Ended
	Jan. 31, 2025	Oct. 31, 2024	Jan. 31, 2024	Oct. 31, 2023	Jan. 31, 2025	Jan. 31, 2024
Earnings Per Share [Abstract]
Net income	$ 56,427	$ 29,926	$ 32,795	$ (15,853)	$ 86,353	$ 16,942
Add: Interest expense related to convertible senior notes, net of tax	691		4,271		975	8,451
Diluted net income	$ 57,118		$ 37,066		$ 87,328	$ 25,393
Weighted average shares, basic	267,138		243,853		266,842	242,667
Add: Dilutive effect of common stock equivalents	26,213		54,687		24,244	52,184
Weighted average shares, diluted	293,351		298,540		291,086	294,851
Net income per share attributable to Class A common stockholders, basic	$ 0.21		$ 0.13		$ 0.32	$ 0.07
Net income per share attributable to Class A common stockholders, diluted	$ 0.19		$ 0.12		$ 0.3	$ 0.09

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Antidilutive Securities (Details) - shares shares in Thousands	6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,610	536
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)	1,481	536
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)	129	0

Segment Information - Additiona

Segment Information - Additional information (Details)	6 Months Ended
	Jan. 31, 2025 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		6 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2025	Jan. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 654,721	$ 565,233	$ 1,245,677	$ 1,076,287
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	367,275	308,674	700,003	598,948
Europe, the Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	181,348	151,917	332,539	276,501
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	92,205	93,149	188,024	176,261
Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 13,893	$ 11,493	$ 25,111	$ 24,577

Segment Information - Schedul_2

Segment Information - Schedule of Sets Forth Long-Lived Assets Include Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jul. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 138,753	$ 136,180
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	105,900	102,873
Non-US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 32,853	$ 33,307

Subsequent Event (Additional In

Subsequent Event (Additional Information) (Details) - Subsequent Event $ in Millions	Feb. 12, 2025 USD ($)	Mar. 06, 2025 USD ($)
Subsequent Event [Line Items]
Letters of Credit Outstanding, Amount		$ 0
Revolving Credit Facility
Subsequent Event [Line Items]
Aggregate principal amount	$ 500
Issuance of letter credit	$ 25
Revolving Credit Facility | Maximum
Subsequent Event [Line Items]
Unused Capacity, Commitment Fee Percentage	0.30%
Leverage ratio	0.0375
Revolving Credit Facility | Minimum
Subsequent Event [Line Items]
Unused Capacity, Commitment Fee Percentage	0.175%
Leverage ratio	0.01