| 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, 2025 |
|
|
|
Level I |
|
|
Level II |
|
|
Level III |
|
|
Total |
|
|
|
(in thousands) |
|
Financial Assets, Current: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
371,762 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
371,762 |
|
U.S. Government securities |
|
|
— |
|
|
|
21,703 |
|
|
|
— |
|
|
|
21,703 |
|
Commercial paper |
|
|
— |
|
|
|
13,068 |
|
|
|
— |
|
|
|
13,068 |
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds |
|
|
— |
|
|
|
647,074 |
|
|
|
— |
|
|
|
647,074 |
|
Commercial paper |
|
|
— |
|
|
|
163,055 |
|
|
|
— |
|
|
|
163,055 |
|
U.S. Government securities |
|
|
— |
|
|
|
413,105 |
|
|
|
— |
|
|
|
413,105 |
|
Total measured at fair value |
|
$ |
371,762 |
|
|
$ |
1,258,005 |
|
|
$ |
— |
|
|
$ |
1,629,767 |
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
362,969 |
|
Total cash, cash equivalents and short-term investments |
|
|
|
|
|
|
|
|
|
|
$ |
1,992,736 |
|
Financial Assets, Non-Current: |
|
|
|
|
|
|
|
|
|
|
|
|
Convertible note receivable |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,460 |
|
|
$ |
5,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of April 30, 2026 |
|
|
|
Level I |
|
|
Level II |
|
|
Level III |
|
|
Total |
|
|
|
(in thousands) |
|
Financial Assets, Current: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
351,889 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
351,889 |
|
Commercial paper |
|
|
— |
|
|
|
2,593 |
|
|
|
— |
|
|
|
2,593 |
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds |
|
|
— |
|
|
|
743,537 |
|
|
|
— |
|
|
|
743,537 |
|
Commercial paper |
|
|
— |
|
|
|
50,389 |
|
|
|
— |
|
|
|
50,389 |
|
U.S. Government securities |
|
|
— |
|
|
|
505,165 |
|
|
|
— |
|
|
|
505,165 |
|
Total measured at fair value |
|
$ |
351,889 |
|
|
$ |
1,301,684 |
|
|
$ |
— |
|
|
$ |
1,653,573 |
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
364,330 |
|
Total cash, cash equivalents and short-term investments |
|
|
|
|
|
|
|
|
|
|
$ |
2,017,903 |
|
Financial Assets, Non-Current: |
|
|
|
|
|
|
|
|
|
|
|
|
Convertible note receivable |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,460 |
|
|
$ |
5,460 |
|
The carrying values and estimated fair values of financial instruments not recorded at fair value are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of July 31, 2025 |
|
|
As of April 30, 2026 |
|
|
|
Carrying
Value |
|
|
Estimated
Fair
Value |
|
|
Carrying
Value |
|
|
Estimated
Fair
Value |
|
|
|
(in thousands) |
|
2027 Notes |
|
$ |
497,059 |
|
|
$ |
695,295 |
|
|
$ |
498,072 |
|
|
$ |
527,090 |
|
2029 Notes |
|
|
846,759 |
|
|
|
976,652 |
|
|
|
849,412 |
|
|
|
800,564 |
|
Total |
|
$ |
1,343,818 |
|
|
$ |
1,671,947 |
|
|
$ |
1,347,484 |
|
|
$ |
1,327,654 |
|
|