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Stock-Based Compensation Expense and Shareholders' Equity (Tables) | 6 Months Ended
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Jan. 31, 2022
Stockholders' Equity and Stock-based Compensation [Abstract] |
Stock-based compensation expense | Stock-based compensation expense related to stock options and Stock Awards is included in the Company’s condensed consolidated statements of operations as follows (in thousands):
| Three Months Ended January 31, |  | Six Months Ended January 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Stock-based compensation expense | $ | 38,147 |  |  | $ | 30,209 |  |  | $ | 70,680 |  |  | $ | 58,603 |
Net impact of deferred stock-based compensation | (282) |  |  | (313) |  |  | (575) |  |  | (623) |
Total stock-based compensation expense, net | $ | 37,865 |  |  | $ | 29,896 |  |  | $ | 70,105 |  |  | $ | 57,980 |
Stock-based compensation expense is included in the following categories: |  |  |  |  |  |  |
Cost of subscription and support revenue | $ | 3,773 |  |  | $ | 2,954 |  |  | $ | 7,121 |  |  | $ | 5,556 |
Cost of license revenue | 189 |  |  | 145 |  |  | 371 |  |  | 396 |
Cost of services revenue | 6,081 |  |  | 5,578 |  |  | 11,718 |  |  | 11,121 |
Research and development | 9,433 |  |  | 7,604 |  |  | 18,047 |  |  | 14,851 |
Sales and marketing | 10,825 |  |  | 6,806 |  |  | 18,314 |  |  | 12,783 |
General and administrative | 7,564 |  |  | 6,809 |  |  | 14,534 |  |  | 13,273 |
Total stock-based compensation expense | $ | 37,865 |  |  | $ | 29,896 |  |  | $ | 70,105 |  |  | $ | 57,980 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | A summary of the Company’s Stock Awards activity under the Company’s equity incentive plans is as follows:
| Stock Awards Outstanding
| Number of Stock Awards Outstanding |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value (in thousands)(1)
Balance as of July 31, 2021 | 2,394,968 |  |  | $ | 107.15 |  |  | $ | 275,900 |
Granted | 1,609,375 |  |  | $ | 119.61 |  |  |
Released | (665,640) |  |  | $ | 104.90 |  |  | $ | 76,912 |
Canceled | (203,385) |  |  | $ | 110.53 |  |  |
Balance as of January 31, 2022 | 3,135,318 |  |  | $ | 113.80 |  |  | $ | 316,165 |
Expected to vest as of January 31, 2022 | 3,135,318 |  |  | $ | 113.80 |  |  | $ | 316,165 |
(1) Aggregate intrinsic value at each period end represents the total market value of Stock Awards at the Company’s closing stock price of $100.84 and $115.20 on January 31, 2022 and July 31, 2021, respectively. Aggregate intrinsic value for released Stock Awards represents the total market value of released Stock Awards at date of release.
Schedule of Share-based Compensation, Stock Options, Activity | Stock option activity under the Company’s equity incentive plans is as follows:
| Stock Options Outstanding
| Number of Stock Options Outstanding |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value(1)
|  |  |  |  | (in years) |  | (in thousands)
Balance as of July 31, 2021 | 25,278 |  |  | $ | 17.39 |  |  | 5.0 |  | $ | 2,472 |
Granted | — |  |  |  |  |  |  |
Exercised | (8,748) |  |  | $ | 11.12 |  |  |  |  | $ | 900 |
Canceled | — |  |  |  |  |  |  |
Balance at January 31, 2022 | 16,530 |  |  | $ | 20.72 |  |  | 3.7 |  | $ | 1,324 |
Vested and expected to vest as of January 31, 2022 | 16,530 |  |  | $ | 20.72 |  |  | 3.7 |  | $ | 1,324 |
Exercisable as of January 31, 2022 | 16,530 |  |  | $ | 20.72 |  |  | 3.7 |  | $ | 1,324 |
(1) Aggregate intrinsic value at each period end represents the difference between the Company’s closing stock price of $100.84 and $115.20 on January 31, 2022 and July 31, 2021, respectively, and the exercise price of outstanding options. Aggregate intrinsic value for exercised options represents the difference between the Company’s stock price at date of exercise and the exercise price.
Common Stock Reserved for Issuance | As of January 31, 2022 and July 31, 2021, the Company had reserved shares of common stock for future issuance as follows:
| January 31, 2022 |  | July 31, 2021
Exercise of stock options to purchase common stock | 16,530 |  |  | 25,278 |
Vesting of stock awards | 3,135,318 |  |  | 2,394,968 |
Shares available under stock plans | 3,608,079 |  |  | 5,014,069 |
Total common stock reserved for issuance | 6,759,927 |  |  | 7,434,315 |

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