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Stockholders' Equity | 9 Months Ended
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Apr. 30, 2026
Equity [Abstract] |
Stockholders' Equity | NOTE 8. STOCKHO LDERS’ EQUITY We have one class of outstanding common stock consisting of Class A common stock. As of April 30, 2026, we had 1.0 billion shares of Cla ss A common stock authorized, with a par value of $0.000025 per share. As of April 30, 2026, we had approximately 266.5 million shares of Class A common stock issued and outstanding. As of April 30, 2026, we had 0.2 million shares of preferred stock authorized, with a par value of $0.000025 per share, and no shares issued and outstanding. Holders of Class A common stock are entitled to one vote for each share of Class A common stock held on all matters submitted to a vote of stockholders. Share Repurchases In August 2023, our Board of Directors authorized the repurchase of up to $350.0 million of our Class A common stock. In August 2025 and April 2026, our Board of Directors approved increases of $350.0 million and $750.0 million, respectively, to the share repurchase authorization. Repurchases may be made from time to time through open market purchases, through privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act in accordance with applicable securities laws and other restrictions. The authorization has no expiration date, may be modified, suspended or discontinued at any time, and does not obligate us to repurchase any minimum number of shares. During the three and nine months ended April 30, 2026, we repurchased approximately 1.3 million and 8.4 million shares, respectively, of Class A common stock in open market transactions at a weighted average price of $39.18 and $51.51 per share, respectively, for an aggregate purchase price of approximately $50.0 million and $432.5 million, respectively, under this share repurchase program, including shares repurchased under the accelerated share repurchase agreement, discussed below. As of April 30, 2026, approximately $778.9 million remained available for future share repurchases under the authorization. In December 2024, we used approximately $200.0 million of the net proceeds from the 2029 Notes offering to repurchase approximately 3.1 million shares of our Class A common stock in privately negotiated transactions at a purchase price equal to $64.78 per share. This share repurchase was executed outside of the existing share repurchase program that was authorized by our Board of Directors in August 2023, described above. For additional details on this transaction, refer to Note 5. In December 2025, we entered into an accelerated share repurchase ("ASR") agreement with Bank of America, N.A. Under the terms of the ASR, we repurchased $300.0 million of our Class A common stock, with an initial delivery of approximately 5.0 million shares, representing 80% of the value of the $300.0 million. The ASR program was settled in January 2026, shortly after which Bank of America delivered an additional 0.9 million shares. The final share settlement was based on the volume-weighted average price of our Class A common stock on specified dates during the term of the ASR agreement, less a discount, and less the previously delivered 5.0 million shares. The shares repurchased under the ASR were funded with cash on hand under our existing share repurchase program. We accounted for the ASR as an equity transaction, and at the time of receipt, the shares were included in treasury stock at fair market value as of the corresponding trade date. We reflected the shares received as a repurchase of common stock in the weighted average common shares outstanding calculation for basic and diluted earnings per share.

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