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Balance Sheet Components (Tables) | 3 Months Ended
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Oct. 31, 2021
Balance Sheet Related Disclosures [Abstract] |
Accounts Receivables and Allowance for Doubtful Accounts | Accounts receivable, net consists of the following (in thousands):
| October 31, 2021 |  | July 31, 2021
Accounts receivable | $ | 81,112 |  |  | $ | 105,125 |
Allowance for credit losses and revenue reserves | (705) |  |  | (1,057) |
Accounts receivable, net | $ | 80,407 |  |  | $ | 104,068 |
Allowance for Credit Losses and Revenue Reserves Changes to the allowance for credit losses and revenue reserves consists of the following (in thousands):
Balance as of July 31, 2021 | $ | 1,057 |
Net changes to credit losses | — |
Net changes to revenue reserves | (32) |
Write-offs, net | (320) |
Balance as of October 31, 2021 | $ | 705 |
Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following (in thousands):
| October 31, 2021 |  | July 31, 2021
Prepaid expenses | $ | 23,563 |  |  | $ | 20,330 |
Contract costs | 13,805 |  |  | 13,365 |
Deferred costs | 8,657 |  |  | 9,247 |
Deposits and other receivables | 11,295 |  |  | 9,787 |
Restricted cash(1) | 14,124 |  |  | — |
Prepaid expenses and other current assets | $ | 71,444 |  |  | $ | 52,729 |
(1) Restricted cash represents the short term portion of the acquisition consideration holdback of $3.3 million which is in escrow and funds in transit as of October 31, 2021 of $10.8 million for the purchase of strategic equity investments that had not closed as of the end of the first quarter of fiscal year 2022.
Property and equipment | Property and equipment consist of the following (in thousands):
| October 31, 2021 |  | July 31, 2021
Computer hardware | $ | 19,361 |  |  | $ | 19,256 |
Purchased software | 5,998 |  |  | 6,002 |
Capitalized software development costs | 27,545 |  |  | 24,025 |
Equipment and machinery | 12,240 |  |  | 12,214 |
Furniture and fixtures | 11,791 |  |  | 11,482 |
Leasehold improvements | 60,052 |  |  | 57,960 |
Total property and equipment | 136,987 |  |  | 130,939 |
Less accumulated depreciation | (54,213) |  |  | (50,878) |
Property and equipment, net | $ | 82,774 |  |  | $ | 80,061 |
Schedule of Goodwill | Changes in the carrying amount of goodwill were as follows (in thousands):
Goodwill, July 31, 2021 | $ | 340,877 |
Addition — HazardHub acquisition | 31,185 |
Goodwill, October 31, 2021 | $ | 372,062 |
Schedule of Finite-Lived Intangible Assets | The Company’s intangible assets are amortized over their estimated useful lives. Intangible assets consist of the following (in thousands):
|  |  | October 31, 2021 |  | July 31, 2021
| Remaining Weighted-Average Useful Life (in years) |  | Cost |  | Accumulated Amortization |  | Net Book Value |  | Cost |  | Accumulated Amortization |  | Net Book Value
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Acquired technology | 3.4 |  | $ | 103,300 |  |  | $ | 88,311 |  |  | $ | 14,989 |  |  | $ | 93,600 |  |  | $ | 86,367 |  |  | $ | 7,233 |
Customer contracts and related relationships | 3.8 |  | 40,800 |  |  | 26,122 |  |  | 14,678 |  |  | 35,700 |  |  | 24,432 |  |  | 11,268 |
Partner relationships | 3.4 |  | 200 |  |  | 124 |  |  | 76 |  |  | 200 |  |  | 119 |  |  | 81 |
Trademarks | 4.7 |  | 3,400 |  |  | 1,455 |  |  | 1,945 |  |  | 2,500 |  |  | 1,339 |  |  | 1,161 |
Order backlog | 0.0 |  | 8,700 |  |  | 8,700 |  |  | — |  |  | 8,700 |  |  | 8,700 |  |  | — |
Total | 3.6 |  | $ | 156,400 |  |  | $ | 124,712 |  |  | $ | 31,688 |  |  | $ | 140,700 |  |  | $ | 120,957 |  |  | $ | 19,743 |
Future Amortization Expense | The future amortization expense for existing intangible assets as of October 31, 2021, based on their current useful lives, is as follows (in thousands):
Fiscal year ending July 31, |
2022 (remainder of fiscal year) | $ | 10,327 |
2023 | 6,888 |
2024 | 5,468 |
2025 | 5,026 |
2026 | 3,572 |
Thereafter | 407 |
Total | $ | 31,688 |
Other Assets | Other assets consist of the following (in thousands):
| October 31, 2021 |  | July 31, 2021
Prepaid expenses | $ | 2,974 |  |  | $ | 3,276 |
Contract costs | 29,061 |  |  | 28,870 |
Deferred costs | 2,175 |  |  | 2,777 |
Strategic equity investments | 3,556 |  |  | 3,556 |
Restricted cash(2) | 4,976 |  |  | — |
Other assets | $ | 42,742 |  |  | $ | 38,479 |
(2) Restricted cash represents the long-term portion of the acquisition consideration holdback.
Accrued Employee Compensation | Accrued Employee Compensation Accrued employee compensation consists of the following (in thousands):
| October 31, 2021 |  | July 31, 2021
Bonus | $ | 12,241 |  |  | $ | 48,414 |
Commission | 2,233 |  |  | 11,271 |
Vacation* | 5,746 |  |  | 23,803 |
Salaries, payroll taxes, and benefits | 18,185 |  |  | 18,649 |
Accrued employee compensation | $ | 38,405 |  |  | $ | 102,137 |
*In the first quarter of fiscal year 2022, the Company paid out accrued vacation for employees in certain countries upon adopting a non-accrued vacation policy effective September 1, 2021.
Other Current Liabilities | Other current liabilities consist of the following (in thousands):
| October 31, 2021 |  | July 31, 2021
Lease liabilities | $ | 11,312 |  |  | $ | 11,624 |
Accrued royalties | 9,165 |  |  | 7,525 |
Accrued taxes | 3,495 |  |  | 6,796 |
Other | 4,029 |  |  | 5,703 |
Other current liabilities | $ | 28,001 |  |  | $ | 31,648 |

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