Equity Incentive Plans (Tables)
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12 Months Ended |
Jul. 31, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of RSUs Activity |
Below is a summary of RSU activity and PRSU and MSU (collectively, "PSU") activity under the Stock Plans:
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RSUs |
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PSUs |
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Number of
Shares |
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Weighted Average
Grant Date Fair Value per Share |
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Number of
Shares |
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Weighted Average
Grant Date Fair Value per Share |
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(in thousands) |
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(in thousands) |
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Outstanding at July 31, 2023 |
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22,814 |
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$ |
23.69 |
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1,960 |
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$ |
33.49 |
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Granted (1) |
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9,850 |
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$ |
34.22 |
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1,396 |
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$ |
49.82 |
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Released (1) |
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(10,844 |
) |
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$ |
25.76 |
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(796 |
) |
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$ |
25.25 |
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Forfeited |
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(1,959 |
) |
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$ |
25.73 |
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(246 |
) |
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$ |
45.15 |
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Outstanding at July 31, 2024 |
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19,861 |
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$ |
27.58 |
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2,314 |
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$ |
44.94 |
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Granted (1) |
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5,658 |
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$ |
61.62 |
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711 |
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$ |
86.81 |
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Released (1) |
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(9,526 |
) |
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$ |
30.16 |
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(1,140 |
) |
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$ |
42.46 |
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Forfeited |
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(1,562 |
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$ |
34.63 |
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(72 |
) |
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$ |
52.48 |
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Outstanding at July 31, 2025 |
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14,431 |
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$ |
38.46 |
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1,813 |
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$ |
62.63 |
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Granted (1) |
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5,315 |
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$ |
66.10 |
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694 |
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$ |
99.27 |
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Released (1) |
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(7,903 |
) |
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$ |
35.64 |
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(931 |
) |
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$ |
44.75 |
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Forfeited |
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(1,294 |
) |
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$ |
46.11 |
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(29 |
) |
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$ |
110.89 |
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Outstanding at July 31, 2026 |
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10,549 |
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$ |
53.56 |
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1,547 |
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$ |
88.92 |
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(1)For PSUs, includes additional shares granted upon vesting due to achievement over 100%.
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| Schedule of Stock Option Activity |
Below is a summary of stock option activity under the Stock Plans:
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Fiscal Year Ended July 31, |
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2024 |
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2025 |
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2026 |
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life |
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Aggregate
Intrinsic
Value |
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life |
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Aggregate
Intrinsic
Value |
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life |
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Aggregate
Intrinsic
Value |
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(in thousands) |
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(in years) |
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(in thousands) |
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(in thousands) |
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(in years) |
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(in thousands) |
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(in thousands) |
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(in years) |
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(in thousands) |
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Outstanding at beginning of period |
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1,046 |
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$ |
6.83 |
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1.1 |
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$ |
24,451 |
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258 |
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$ |
11.26 |
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0.7 |
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$ |
10,138 |
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8 |
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$ |
13.11 |
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0.7 |
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$ |
492 |
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Options granted |
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— |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
— |
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Options exercised |
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(788 |
) |
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$ |
5.38 |
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(250 |
) |
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$ |
11.20 |
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(7 |
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$ |
13.23 |
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Options canceled/forfeited |
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— |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
— |
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Outstanding at end of period |
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258 |
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$ |
11.26 |
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0.7 |
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$ |
10,138 |
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8 |
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$ |
13.11 |
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0.7 |
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$ |
492 |
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1 |
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$ |
12.31 |
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0.1 |
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$ |
47 |
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Exercisable at end of period |
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258 |
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$ |
11.26 |
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0.7 |
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$ |
10,138 |
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8 |
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$ |
13.11 |
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0.7 |
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$ |
492 |
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1 |
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$ |
12.31 |
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0.1 |
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$ |
47 |
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| Schedule of ESPP Valuation Assumptions |
We use the Black-Scholes option pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted average assumptions on the date of grant:
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Fiscal Year Ended July 31, |
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2024 |
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2025 |
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2026 |
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Expected term (in years) |
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0.78 |
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0.72 |
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0.81 |
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Risk-free interest rate |
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5.1 |
% |
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4.9 |
% |
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3.9 |
% |
Volatility |
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47.2 |
% |
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46.2 |
% |
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47.9 |
% |
Dividend yield |
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— |
% |
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— |
% |
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— |
% |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
Total stock-based compensation expense recognized in our consolidated statements of operations is as follows:
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Fiscal Year Ended July 31, |
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2024 |
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2025 |
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2026 |
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(in thousands) |
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Cost of revenue: |
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Product |
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$ |
6,822 |
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$ |
2,824 |
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$ |
1,550 |
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Support, maintenance and other services |
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27,285 |
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27,582 |
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28,190 |
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Sales and marketing |
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80,190 |
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80,930 |
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82,402 |
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Research and development |
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156,784 |
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175,361 |
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180,844 |
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General and administrative |
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62,752 |
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64,893 |
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64,681 |
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Total stock-based compensation expense |
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$ |
333,833 |
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$ |
351,590 |
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$ |
357,667 |
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