v3.26.1
Stock-Based Compensation Expense and Shareholders' Equity (Tables)
 12 Months Ended
Jul. 31, 2026
Stockholders' Equity and Stock-based Compensation [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense related to stock options, Stock Awards, and the ESPP purchase rights is included in the consolidated statements of operations as follows (in thousands):
Fiscal years ended July 31,
202620252024
Stock-based compensation expense$182,583 $161,678 $146,700 
Net impact of deferred stock-based compensation(784)(122)(240)
Total stock-based compensation expense$181,799 $161,556 $146,460 
Stock-based compensation expense is included in the following categories:
Cost of subscription and support revenue$13,814 $13,953 $13,425 
Cost of license revenue— 136 186 
Cost of services revenue24,583 20,759 19,013 
Research and development49,061 41,760 40,213 
Sales and marketing46,720 43,270 34,590 
General and administrative47,622 41,678 39,033 
Total stock-based compensation expense181,799 161,556 146,460 
Tax benefit from stock-based compensation53,777 62,429 37,670 
Total stock-based compensation, net of tax effect$128,023 $99,127 $108,790 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
Total unrecognized stock-based compensation expense related to the Company’s stock options, Stock Awards, and ESPP purchase rights as of July 31, 2026 is as follows:
Unrecognized Expense
(in thousands)		Weighted Average Expected Recognition Period
(in years)
Stock awards$303,141 1.9
ESPP purchase rights4,727 0.4
Total unrecognized stock-based compensation expense$307,868 
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 AwardsWeighted Average Grant Date Fair Value
 Aggregate Intrinsic Value(1)
(in thousands)
Balance as of July 31, 20233,414,706 $85.68 $289,635 
Granted1,639,400 $93.63 
Released(1,569,451)$91.48 $168,144 
Canceled(282,589)$89.22 
Balance as of July 31, 20243,202,066 $86.60 $480,534 
Granted1,099,795 $179.92 
Released(1,473,839)$99.72 $284,544 
Canceled(155,165)$95.42 
Balance as of July 31, 20252,672,857 $117.25 $604,654 
Granted985,948 $220.10 
Released(1,333,619)$110.89 $261,148 
Canceled(178,997)$138.90 
Balance as of July 31, 20262,146,189 $166.64 $326,092 
Expected to vest as of July 31, 20262,146,189 $166.64 $326,092 
(1)Aggregate intrinsic value at each period end represents the total market value of Stock Awards at the Company’s closing stock price of $151.94, $226.22, and $150.07 on July 31, 2026, 2025, and 2024, 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
(in years)
 Aggregate Intrinsic Value(1)
(in thousands)
Balance as of July 31, 2023187,572 $65.90 8.8$3,549 
Granted— $— 
Exercised(15,517)$67.98 $1,061 
Canceled(5,217)$68.39 
Balance as of July 31, 2024166,838 $65.63 7.9$14,088 
Granted— $— 
Exercised(56,880)$68.60 $6,982 
Canceled— $— 
Balance as of July 31, 2025109,958 $64.09 6.8$17,828 
Granted— $— 
Exercised(13,385)$54.47 $1,926 
Canceled— $— 
Balance as of July 31, 202696,573 $65.42 5.9$8,355 
Vested and expected to vest as of July 31, 202696,573 $65.42 5.9$8,355 
Exercisable as of July 31, 202696,573 $65.42 5.9$8,355 
(1)Aggregate intrinsic value at each fiscal year end represents the difference between the Company’s closing stock price of $151.94, $226.22, and $150.07 on July 31, 2026, 2025, and 2024, respectively, and the exercise price of outstanding stock 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
Fiscal years ended July 31,
202620252024
Performance period
*September 11, 2024 to September 11, 2027September 13, 2023 to September 13, 2026
3-year historical volatility
*36.0%35.0%
3-year risk free rate
*3.4%4.5%
The Company estimated the fair value of the ESPP purchase rights using the Black-Scholes option pricing model with the following assumptions:
Fiscal year ended July 31,
202620252024
Expected term (in years)0.50.5
*
Risk-free interest rate
3.6% - 4.0%
4.3%*
Expected volatility
37.1% - 65.0%
42.1%*
Expected dividend yield—%—%*
*The ESPP was approved by stockholders in December 2024. Therefore, there were no ESPP purchase rights during the fiscal year ended July 31, 2024.
Common Stock Reserved for Issuance As of July 31, 2026 and 2025, the Company had reserved shares of common stock for future issuance as follows:
July 31, 2026July 31, 2025
Exercise of stock options to purchase common stock96,573 109,958 
Vesting of stock awards2,146,189 2,672,857 
Shares available under stock plans3,698,521 4,505,472 
Shares available for ESPP
2,799,605 3,000,000 
Total common stock reserved for issuance8,740,888 10,288,287