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Stock-Based Compensation (Tables) | 6 Months Ended
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Jan. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Stock Options | The stock option activity consisted of the following for the six months ended January 31, 2020:
| Outstanding Stock Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
| (in thousands, except per share amounts) |  |  |  |  |  |
Balance as of July 31, 2019 | 8,861 |  |  | $ | 7.16 |  |  | 4.6 |  | $ | 683,294 |
Granted | 150 |  |  | 49.59 |  |  |  |  |
Exercised | (1,220) |  |  | 5.54 |  |  |  |  | 62,182 |
Canceled, forfeited or expired | (297) |  |  | 8.14 |  |  |  |  |
Balance as of January 31, 2020 | 7,494 |  |  | $ | 8.24 |  |  | 4.3 |  | $ | 358,629 |
Exercisable and expected to vest as of July 31, 2019 | 3,311 |  |  | $ | 5.60 |  |  | 4.0 |  | $ | 260,479 |
Exercisable and expected to vest as of January 31, 2020 | 3,469 |  |  | $ | 6.06 |  |  | 3.8 |  | $ | 173,540 |
Schedule of Valuation Assumptions | We estimated the fair value of stock options using the Black-Scholes option pricing model with the following assumptions:
| Six Months Ended January 31, 2020
Expected term (in years) | 6.1
Expected stock price volatility | 46.1% |
Risk-free interest rate | 1.7% |
Dividend yield | 0.0% |
The fair value of the purchase right for the ESPP is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
| Six Months Ended January 31, 2020 |  | Six Months Ended January 31, 2019
Expected Term in Years | 0.5 - 2.0 |  | 0.5 - 2.0
Expected stock price volatility | 53.6% - 57.6% |  | 44.0% - 61.9%
Risk-free interest rate | 1.5% - 1.7% |  | 2.5% - 2.7%
Dividend Yield | 0.0% |  |  | 0.0% |
Schedule of Restricted Stock Units Activity | RSU and PSU activity consisted of the following for the six months ended January 31, 2020:
| Underlying Shares |  | Weighted-Average Grant Date Fair Value |  | Aggregate Intrinsic Value
| (in thousands, except per share data) |  |  |  |  |
Balance as of July 31, 2019 | 4,152 |  |  | $ | 48.51 |  |  | $ | 349,872 |
Granted | 2,106 |  |  | 48.63 |  |  |
Vested | (509) |  |  | 39.20 |  |  | 23,987 |
Canceled or forfeited | (318) |  |  | 53.77 |  |  |
Balance as of January 31, 2020 | 5,431 |  |  | $ | 49.12 |  |  | $ | 304,659 |
Schedule of Allocation of Stock-based Compensation Expense | The components of stock-based compensation expense recognized in the condensed consolidated statements of operations consisted of the following:
| Three Months Ended January 31, |  |  |  | Six Months Ended January 31, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (in thousands) |  |  |  |  |  |
Cost of revenue | $ | 1,580 |  |  | $ | 619 |  |  | $ | 2,961 |  |  | $ | 1,122 |
Sales and marketing | 11,943 |  |  | 5,517 |  |  | 21,982 |  |  | 8,318 |
Research and development | 6,077 |  |  | 4,398 |  |  | 10,951 |  |  | 7,193 |
General and administrative | 4,266 |  |  | 2,693 |  |  | 6,348 |  |  | 4,180 |
Total | $ | 23,866 |  |  | $ | 13,227 |  |  | $ | 42,242 |  |  | $ | 20,813 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
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