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Equity Incentive Plans (Tables)
12 Months Ended
Jul. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of RSUs Activity

Below is a summary of RSU activity and PRSU and MSU (collectively, "PSU") activity under the Stock Plans:

 

 

RSUs

 

 

PSUs

 

 

 

Number of
Shares

 

 

Weighted Average
Grant Date Fair Value per Share

 

 

Number of
Shares

 

 

Weighted Average
Grant Date Fair Value per Share

 

 

 

(in thousands)

 

 

 

 

 

(in thousands)

 

 

 

 

Outstanding at July 31, 2021

 

 

20,423

 

 

$

30.83

 

 

 

1,285

 

 

$

33.35

 

Granted

 

 

14,921

 

 

$

30.33

 

 

 

654

 

 

$

46.80

 

Released

 

 

(9,160

)

 

$

32.57

 

 

 

(466

)

 

$

34.96

 

Forfeited

 

 

(5,308

)

 

$

32.27

 

 

 

(213

)

 

$

39.48

 

Outstanding at July 31, 2022

 

 

20,876

 

 

$

29.34

 

 

 

1,260

 

 

$

38.71

 

Granted

 

 

16,045

 

 

$

19.25

 

 

 

1,339

 

 

$

27.89

 

Released

 

 

(9,938

)

 

$

27.28

 

 

 

(314

)

 

$

34.07

 

Forfeited

 

 

(4,169

)

 

$

26.36

 

 

 

(325

)

 

$

30.08

 

Outstanding at July 31, 2023

 

 

22,814

 

 

$

23.69

 

 

 

1,960

 

 

$

33.49

 

Granted

 

 

9,850

 

 

$

34.22

 

 

 

1,396

 

 

$

49.82

 

Released

 

 

(10,844

)

 

$

25.76

 

 

 

(796

)

 

$

25.25

 

Forfeited

 

 

(1,959

)

 

$

25.73

 

 

 

(246

)

 

$

45.15

 

Outstanding at July 31, 2024

 

 

19,861

 

 

$

27.58

 

 

 

2,314

 

 

$

44.94

 

Schedule of Stock Option Activity

Below is a summary of stock option activity under the Stock Plans:

 

Fiscal Year Ended July 31,

 

 

2023

 

 

2024

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life

 

 

Aggregate
Intrinsic
Value

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life

 

 

Aggregate
Intrinsic
Value

 

 

(in thousands)

 

 

 

 

 

(in years)

 

 

(in thousands)

 

 

(in thousands)

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding at beginning of period

 

1,689

 

 

$

6.43

 

 

 

1.9

 

 

$

14,707

 

 

 

1,046

 

 

$

6.83

 

 

 

1.1

 

 

$

24,451

 

Options granted

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

Options exercised

 

(643

)

 

$

5.76

 

 

 

 

 

 

 

 

 

(788

)

 

$

5.38

 

 

 

 

 

 

 

Options canceled/forfeited

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

Outstanding at end of period

 

1,046

 

 

$

6.83

 

 

 

1.1

 

 

$

24,451

 

 

 

258

 

 

$

11.26

 

 

 

0.7

 

 

$

10,138

 

Exercisable at end of period

 

1,046

 

 

$

6.83

 

 

 

1.1

 

 

$

24,451

 

 

 

258

 

 

$

11.26

 

 

 

0.7

 

 

$

10,138

 

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:

 

 

Fiscal Year Ended July 31,

 

 

 

2022

 

 

2023

 

 

2024

 

Expected term (in years)

 

 

0.81

 

 

 

0.74

 

 

 

0.78

 

Risk-free interest rate

 

 

1.0

%

 

 

4.3

%

 

 

5.1

%

Volatility

 

 

43.3

%

 

 

59.8

%

 

 

47.2

%

Dividend yield

 

 

%

 

 

%

 

 

%

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:

 

 

Fiscal Year Ended July 31,

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

(in thousands)

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

Product

 

$

7,379

 

 

$

7,966

 

 

$

6,822

 

Support, entitlements and other services

 

 

30,846

 

 

 

26,611

 

 

 

27,285

 

Sales and marketing

 

 

104,592

 

 

 

82,758

 

 

 

80,190

 

Research and development

 

 

143,759

 

 

 

139,073

 

 

 

156,784

 

General and administrative

 

 

56,670

 

 

 

55,337

 

 

 

62,752

 

Total stock-based compensation expense

 

$

343,246

 

 

$

311,745

 

 

$

333,833