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Stock-Based Compensation (Tables)

6 Months Ended

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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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-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

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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.

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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)
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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.

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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

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Tabular disclosure of the change in stock options.

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