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Balance Sheet Components
 3 Months Ended
Oct. 31, 2021
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Accounts Receivables, Net
Accounts receivable, net consists of the following (in thousands):
October 31, 2021July 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, 2021July 31, 2021
Prepaid expenses$23,563 $20,330 
Contract costs13,805 13,365 
Deferred costs8,657 9,247 
Deposits and other receivables11,295 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, Net
Property and equipment consist of the following (in thousands):
October 31, 2021July 31, 2021
Computer hardware$19,361 $19,256 
Purchased software5,998 6,002 
Capitalized software development costs27,545 24,025 
Equipment and machinery12,240 12,214 
Furniture and fixtures11,791 11,482 
Leasehold improvements60,052 57,960 
Total property and equipment136,987 130,939 
Less accumulated depreciation(54,213)(50,878)
Property and equipment, net$82,774 $80,061 
As of October 31, 2021 and July 31, 2021, no property and equipment was pledged as collateral. Depreciation expense, excluding the amortization of capitalized software development costs, was $3.6 million in both the three months ended October 31, 2021 and 2020.
The Company recognized amortization expense related to capitalized software development costs in cost of subscription and support revenue on the condensed consolidated statements of operations of $1.2 million and $0.6 million during the three months ended October 31, 2021 and 2020, respectively.
Goodwill and Intangible Assets, Net
Changes in the carrying amount of goodwill were as follows (in thousands):
Goodwill, July 31, 2021$340,877 
Addition — HazardHub acquisition31,185 
Goodwill, October 31, 2021$372,062 
The Company’s intangible assets are amortized over their estimated useful lives. Intangible assets consist of the following (in thousands):
October 31, 2021July 31, 2021
Remaining Weighted-Average Useful Life (in years)CostAccumulated AmortizationNet Book ValueCostAccumulated AmortizationNet Book Value
Intangible assets:
Acquired technology3.4$103,300 $88,311 $14,989 $93,600 $86,367 $7,233 
Customer contracts and related relationships3.840,800 26,122 14,678 35,700 24,432 11,268 
Partner relationships3.4200 124 76 200 119 81 
Trademarks4.73,400 1,455 1,945 2,500 1,339 1,161 
Order backlog0.08,700 8,700 — 8,700 8,700 — 
Total3.6$156,400 $124,712 $31,688 $140,700 $120,957 $19,743 

Amortization expense was $3.8 million and $6.3 million for the three months ended October 31, 2021 and 2020, respectively. 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 
20236,888 
20245,468 
20255,026 
20263,572 
Thereafter407 
Total$31,688 

Other assets
Other assets consist of the following (in thousands):
October 31, 2021July 31, 2021
Prepaid expenses$2,974 $3,276 
Contract costs29,061 28,870 
Deferred costs2,175 2,777 
Strategic equity investments3,556 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.

The Company’s other assets include strategic equity investments in privately-held companies in which the Company does not have a controlling interest or the ability to exert significant influence. The strategic investments consist of non-marketable equity securities that do not have readily determinable market values (Level 3). The Company records these strategic investments at cost less impairment and adjusts cost for subsequent observable changes in fair value. No impairment charges related to strategic investments were recognized during the three months ended October 31, 2021 and 2020, respectively.
Accrued Employee Compensation
Accrued employee compensation consists of the following (in thousands):
October 31, 2021July 31, 2021
Bonus$12,241 $48,414 
Commission2,233 11,271 
Vacation*
5,746 23,803 
Salaries, payroll taxes, and benefits18,185 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, 2021July 31, 2021
Lease liabilities$11,312 $11,624 
Accrued royalties9,165 7,525 
Accrued taxes3,495 6,796 
Other4,029 5,703 
Other current liabilities$28,001 $31,648