v3.26.1
Stock-Based Compensation Expense and Shareholders' Equity (Tables)
 9 Months Ended
Apr. 30, 2026
Stockholders' Equity and Stock-based Compensation [Abstract]  
Stock-based compensation expense
Stock-based compensation expense related to stock options, Stock Awards, and ESPP purchase rights is included in the Company’s condensed consolidated statements of operations as follows (in thousands):
Three Months EndedNine Months Ended
April 30,April 30,
2026202520262025
Stock-based compensation expense$45,179 $40,367 $135,479 $119,398 
Net impact of deferred stock-based compensation(237)(10)(463)(33)
 Total stock-based compensation expense, net$44,941 $40,357 $135,015 $119,365 
Stock-based compensation expense is included in the following categories:
Cost of subscription and support revenue$3,391 $3,598 $10,437 $10,511 
Cost of license revenue— 32 — 104 
Cost of services revenue6,108 5,055 18,203 15,218 
Research and development12,061 10,267 36,277 30,560 
Sales and marketing11,598 10,832 35,014 31,400 
General and administrative11,784 10,573 35,085 31,572 
Total stock-based compensation expense$44,941 $40,357 $135,015 $119,365 
Total unrecognized stock-based compensation expense related to the Company’s Stock Awards and ESPP purchase rights as of April 30, 2026 is as follows:
Unrecognized Expense
(in thousands)		Weighted Average Expected Recognition Period
(in years)
Stock Awards$336,815 2.1
ESPP purchase rights1,578 0.2
Total unrecognized stock-based compensation expense$338,393 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the Company’s Stock Awards activity under the Company’s equity incentive plans is as follows:
 Stock Awards Outstanding
 Number of Stock Awards  Weighted Average Grant Date Fair Value
 Aggregate Intrinsic Value (in thousands)(1)
Balance as of July 31, 20252,672,857 $117.25 $604,654 
Granted903,084 $229.42 
Released(1,068,724)$107.90 $228,679 
Canceled(160,949)$135.22 
Balance as of April 30, 20262,346,268 $163.45 $324,700 
Expected to vest as of April 30, 20262,346,268 $163.45 $324,700 
(1) Aggregate intrinsic value at each period end represents the total market value of Stock Awards at the Company’s closing stock price of $138.39 and $226.22 on April 30, 2026 and July 31, 2025, respectively. Aggregate intrinsic value for released Stock Awards represents the total market value of released Stock Awards at date of release.
Schedule of Share-based Compensation, Stock Options, Activity
A summary of stock option activity under the Company’s equity incentive plans is as follows:
 Number of Stock Options Outstanding Weighted Average Exercise PriceWeighted Average Remaining Contractual Life
 Aggregate Intrinsic Value(1)
(in years) (in thousands)
Balance as of July 31, 2025109,958 $64.09 6.8$17,828 
Granted— $— 
Exercised(9,721)$55.47 $1,661 
Canceled— $— 
Balance as of April 30, 2026100,237 $64.92 6.1$7,364 
Vested and expected to vest as of April 30, 2026100,237 $64.92 6.1$7,364 
Exercisable as of April 30, 2026100,237 $64.92 6.1$7,364 
(1) Aggregate intrinsic value at each period end represents the difference between the Company’s closing stock price of $138.39 and $226.22 on April 30, 2026 and July 31, 2025, respectively, and the exercise price of outstanding options. Aggregate intrinsic value for exercised options represents the difference between the Company’s stock price at date of exercise and the exercise price.
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions The Company determined the fair value of the awards subject to market performance of the Company’s common stock using a Monte Carlo simulation model, which included the following assumptions:
Nine Months Ended
April 30,
20262025
Performance period
*
September 11, 2024 to September 11, 2027
3-year historical volatility
*36.0%
3-year risk free rate
*3.4%
*No Stock Awards subject to a market performance condition were granted during the nine months ended April 30, 2026.