| Schedule of Segment Reporting Information |
The following table presents selected financial information for the Company’s single operating segment (in thousands): | | | | | | | | | | | | | | | | | | | Fiscal years ended July 31, | | 2026 | | 2025 | | 2024 | | Total revenue | $ | 1,475,363 | | | $ | 1,202,459 | | | $ | 980,497 | | Adjusted cost of revenue(1) | 485,367 | | | 413,303 | | | 362,572 | | | Stock-based compensation expense | 38,396 | | | 34,848 | | | 32,624 | | | Amortization of intangible assets | 4,232 | | | 2,255 | | | 1,940 | | | Total cost of revenue | 527,995 | | | 450,406 | | | 397,136 | | | Gross profit | 947,368 | | | 752,053 | | | 583,361 | | | Gross profit margin | 64 | % | | 63 | % | | 59 | % | Adjusted operating expenses(2) | 650,112 | | | 580,911 | | | 518,427 | | | Stock-based compensation expense | 143,403 | | | 126,708 | | | 113,836 | | | Amortization of intangible assets | 2,469 | | | 3,189 | | | 3,528 | | | Acquisition holdback expense | 1,510 | | | 177 | | | 143 | | | | | | | | | Total operating expenses | 797,494 | | | 710,985 | | | 635,934 | | | Income (loss) from operations | 149,874 | | | 41,068 | | | (52,573) | | | Income (loss) from operations margin | 10 | % | | 3 | % | | (5) | % | Adjusted interest income (expense) and other income (expense), net(3) | 39,522 | | | 47,366 | | | 38,460 | | | Changes in fair value of strategic investment | 489 | | | (2,130) | | | (1,957) | | | Gains (losses) on sale of strategic investment | 632 | | | 3,671 | | | 1,803 | | | Amortization of debt issuance cost | (3,939) | | | (3,758) | | | (1,732) | | | Retirement of debt | — | | | (53,565) | | | — | | | Unrealized foreign exchange rate gains (losses) | (22,462) | | | 16,743 | | | (10,839) | | | Income (loss) before provision for (benefit from) income taxes | 164,117 | | | 49,395 | | | (26,838) | | | Provision for (benefit from) income taxes | 24,834 | | | (20,409) | | | (20,735) | | | Net income (loss) | $ | 139,283 | | | $ | 69,804 | | | $ | (6,103) | |
(1) Adjusted cost of revenue excludes stock-based compensation and amortization of intangible assets. (2) Adjusted operating expenses excludes stock-based compensation expense, amortization of intangible assets, and acquisition holdback expense. (3) Adjusted interest income (expense) and other income (expense), net excludes changes in fair value of strategic investments, gains (losses) on sale of strategic investments, amortization of debt issuance costs, retirement of debt, and unrealized foreign exchange rate gains (losses).
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| Property and equipment, net by geographic region |
The Company’s long-lived assets for this disclosure are defined as property and equipment and operating lease assets. The Company’s long-lived assets by geographic region are as follows (in thousands): | | | | | | | | | | | | | July 31, 2026 | | July 31, 2025 | | Americas | $ | 62,737 | | | $ | 64,255 | | | EMEA | 25,209 | | | 25,736 | | | APAC | 14,258 | | | 9,754 | | | Total | $ | 102,204 | | | $ | 99,745 | |
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