v3.26.1
Balance Sheet Components
 12 Months Ended
Jul. 31, 2026
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Accounts Receivable, Net
Accounts receivable, net consists of the following (in thousands):
July 31, 2026July 31, 2025
Accounts receivable$196,099 $141,805 
Allowance for credit losses and revenue reserves(2,379)(1,166)
   Accounts receivable, net$193,720 $140,639 

Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
July 31, 2026July 31, 2025
Prepaid expenses$43,423 $32,761 
Contract costs24,190 21,084 
Deferred costs7,650 5,973 
Deposits and other receivables24,098 26,556 
Prepaid expenses and other current assets$99,363 $86,374 
Property and Equipment, Net
Property and equipment consist of the following (in thousands):
July 31, 2026July 31, 2025
Computer hardware$14,416 $16,076 
Purchased software5,253 5,306 
Capitalized software development costs104,798 83,021 
Equipment and machinery6,714 5,459 
Furniture and fixtures9,072 8,541 
Leasehold improvements28,060 27,164 
   Total property and equipment168,314 145,567 
Less accumulated depreciation(100,514)(85,131)
   Property and equipment, net$67,800 $60,436 
During the fiscal year ended July 31, 2025, the Company entered into a revolving credit agreement, guaranteed by its material domestic subsidiaries and secured by a security interest in substantially all of the assets of the Company and each guarantor, including certain property and equipment, subject to customary exclusions. See “Note 7—Debt—Revolving Credit Facility” for further information.
Depreciation expense, excluding the amortization of capitalized software development costs, was $8.8 million, $7.2 million and $6.9 million for the fiscal years ended July 31, 2026, 2025, and 2024, respectively.
The Company recognized amortization of capitalized software development costs in cost of subscription and support revenue on the consolidated statements of operations of $14.4 million, $13.0 million, and $11.6 million during the fiscal years ended July 31, 2026, 2025, and 2024, respectively.
Goodwill and Intangible Assets, Net
Changes in the carrying amount of goodwill were as follows (in thousands):
Balance as of July 31, 2025
$393,978 
Additions
30,071 
Foreign currency translation adjustment
(782)
Balance as of July 31, 2026
$423,267 
The Company’s intangible assets are amortized over their estimated useful lives. Intangible assets consist of the following (in thousands):
July 31, 2026July 31, 2025
Remaining Weighted-Average Useful Life (in years)CostAccumulated AmortizationNet Book ValueCostAccumulated AmortizationNet Book Value
Acquired technology4.6$24,079 $12,137 $11,942 $16,103 $7,986 $8,117 
Customer contracts and related relationships4.610,163 5,963 4,201 20,684 17,151 3,533 
Trademarks2.8900 637 263 900 508 392 
Total4.6$35,143 $18,737 $16,406 $37,687 $25,645 $12,042 
Amortization expense was $6.7 million, $5.4 million, and $5.5 million during the years ended July 31, 2026, 2025, and 2024, respectively. The future amortization expense for existing intangible assets as of July 31, 2026, based on their current useful lives, is as follows (in thousands):
Fiscal year ending July 31,
2027$4,160 
20284,017 
20293,895 
20303,475 
2031859 
Thereafter— 
Total future amortization expense$16,406 
Other Assets
Other assets consist of the following (in thousands):
July 31, 2026July 31, 2025
Prepaid expenses$3,686 $5,907 
Contract costs55,186 46,838 
Deferred costs5,381 3,472 
Strategic investments35,030 20,044 
Other assets$99,283 $76,261 

The Company’s other assets include strategic investments in privately held companies in which the Company does not have a controlling interest or the ability to exert significant influence. The strategic investments consist of non-marketable equity securities that do not have readily determinable market values (Level 3), which are recorded using the measurement alternative at cost less impairment and adjusts cost for subsequent observable changes in fair value, and an investment in a limited partnership, which is recorded using the net asset value practical expedient (Level 3) in accordance with ASC 820. Changes in fair value are included in other income (expense), net on the consolidated statements of operations.
The Company invested $14.6 million, $1.8 million, and $1.3 million in new strategic investments during the fiscal years ended July 31, 2026, 2025, and 2024, respectively.

The following table summarizes the unrealized and realized gains (losses) on strategic investments (in thousands):

Fiscal years ended July 31,
202620252024
Unrealized gains (losses), net, recognized on privately held equity securities measured using net asset value
$(122)$(1,880)$(1,957)
Unrealized gains (losses) recognized on strategic investments using the measurement alternative611 — — 
Impairments of strategic investments using the measurement alternative
— (250)— 
Unrealized gains (losses), net
489 (2,130)(1,957)
Realized gains (losses), net on sales of strategic investments
632 3,671 1,803 
Gains (losses) on strategic investments, net$1,122 $1,541 $(154)
The following table summarizes the carrying amount of the Company’s strategic investments (in thousands):

July 31, 2026July 31, 2025
Equity investments using the measurement alternative
$33,315 $18,263 
Equity investment using net asset value
$1,659 $1,781 
Convertible debt investment at original cost$55 $— 
Accrued Employee Compensation
Accrued employee compensation consists of the following (in thousands):
July 31, 2026July 31, 2025
Bonus$86,824 $84,277 
Commission14,847 19,285 
Vacation10,783 8,274 
Salaries, payroll taxes, and benefits33,877 28,777 
   Accrued employee compensation$146,331 $140,613 
Other Current Liabilities
Other current liabilities consist of the following (in thousands):
July 31, 2026July 31, 2025
Lease liabilities$11,687 $10,438 
Accrued royalties9,036 8,665 
Accrued taxes11,147 8,032 
Other11,041 8,004 
Other current liabilities$42,911 $35,139