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Balance Sheet Components
 12 Months Ended
Jul. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Accounts Receivables, Net
Accounts receivable, net consists of the following (in thousands):
July 31, 2025July 31, 2024
Accounts receivable$141,805 $137,985 
Allowance for credit losses and revenue reserves(1,166)(646)
   Accounts receivable, net$140,639 $137,339 

Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
July 31, 2025July 31, 2024
Prepaid expenses$32,761 $25,791 
Contract costs21,084 17,739 
Deferred costs5,973 6,259 
Deposits and other receivables26,556 17,807 
Prepaid expenses and other current assets$86,374 $67,596 
Property and Equipment, Net
Property and equipment consist of the following (in thousands):
July 31, 2025July 31, 2024
Computer hardware$16,076 $14,182 
Purchased software5,306 5,267 
Capitalized software development costs83,021 66,153 
Equipment and machinery5,459 3,936 
Furniture and fixtures8,541 7,009 
Leasehold improvements27,164 24,596 
   Total property and equipment145,567 121,143 
Less accumulated depreciation(85,131)(65,734)
   Property and equipment, net$60,436 $55,409 
During the fiscal year ended July 31, 2025, the Company entered into a revolving credit agreement, guaranteed by its material domestic subsidiaries and secured by a security interest in substantially all of the assets of the Company and each guarantor, including certain property and equipment, subject to customary exclusions. See “Note 7—Debt—Revolving Credit Facility” below for further information.
Depreciation expense, excluding the amortization of capitalized software development costs, was $7.2 million, $6.9 million and $36.3 million for the fiscal years ended July 31, 2025, 2024, and 2023, respectively. Depreciation expense for the fiscal year ended July 31, 2023 includes $26.9 million of accelerated depreciation expense, recorded from the date the lease was assigned through the date that the lease term ended related to the assignment to an unrelated third party of the Company’s previous office headquarters, which was recognized in general and administrative expenses on the consolidated statements of operations. Refer to Note 8 “Leases” for information about the lease assignment of the previous office headquarters.
The Company recognized amortization of capitalized software development costs in cost of subscription and support revenue on the consolidated statements of operations of $13.0 million, $11.6 million, and $9.9 million during the fiscal years ended July 31, 2025, 2024, and 2023, respectively.
Goodwill and Intangible Assets, Net
Changes in the carrying amount of goodwill were as follows (in thousands):
Goodwill, July 31, 2024
$372,214 
Additions
21,425 
Foreign currency translation adjustment
339 
Goodwill, July 31, 2025
$393,978 
The Company’s intangible assets are amortized over their estimated useful lives. Intangible assets consist of the following (in thousands):
July 31, 2025July 31, 2024
Remaining Weighted-Average Useful Life (in years)CostAccumulated AmortizationNet Book ValueCostAccumulated AmortizationNet Book Value
Acquired technology1.1$16,103 $7,986 $8,117 $9,700 $5,726 $3,974 
Customer contracts and related relationships0.920,684 17,151 3,533 23,100 18,694 4,406 
Partner relationships0— — — 200 185 15 
Trademarks3.1900 508 392 3,400 2,790 610 
Total1.1$37,687 $25,645 $12,042 $36,400 $27,395 $9,005 
Amortization expense was $5.4 million, $5.5 million, and $6.9 million during the years ended July 31, 2025, 2024, and 2023, respectively. The future amortization expense for existing intangible assets as of July 31, 2025, based on their current useful lives, is as follows (in thousands):
Fiscal year ending July 31,
2026$5,270 
20271,969 
20281,826 
20291,704 
20301,273 
Thereafter— 
Total future amortization expense$12,042 
Other Assets
Other assets consist of the following (in thousands):
July 31, 2025July 31, 2024
Prepaid expenses$5,907 $3,213 
Contract costs46,838 36,950 
Deferred costs3,472 4,691 
Strategic investments20,044 22,401 
Other assets$76,261 $67,255 

The Company’s other assets include strategic 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), which are recorded using the measurement alternative at cost less impairment and adjusts cost for subsequent observable changes in fair value, and an investment in a limited partnership, which is recorded using the net asset value practical expedient (Level 3) in accordance with ASC 820. Changes in fair value are recorded in other income (expense) on the consolidated statements of operations.
During the fiscal year ended July 31, 2025, one of the Company’s investees was acquired by a publicly traded company. As a result, the Company received $5.7 million in consideration for its equity interest in the investee, composed of $3.4 million cash and $2.4 million of the acquirer’s shares, which were subsequently sold for $2.3 million, and recognized a $3.7 million gain in excess of cost in other income (expense), net on the consolidated statements of operations.
During the fiscal year ended July 31, 2024, one of the Company’s investees was acquired by a privately held limited partnership. As a result, the Company received $12.1 million in consideration for its equity interest in the investee, composed of $6.5 million cash and $5.6 million of an ownership interest in the privately held limited partnership, and recognized a $1.8 million gain in excess of cost as a component of other income (expense), net on the consolidated statements of operations.
The Company invested $1.8 million, $1.3 million, and $10.8 million in new strategic investments during the fiscal years ended July 31, 2025, 2024, and 2023, respectively.

The following table summarizes the unrealized and realized gains (losses) on strategic investments (in thousands):

Fiscal years ended July 31,
202520242023
Unrealized gains (losses), net, recognized on privately held equity securities measured using net asset value
$(1,880)$(1,957)$— 
Impairments of strategic investments using the measurement alternative
(250)— (802)
Unrealized gains (losses), net
(2,130)(1,957)(802)
Realized gains (losses), net on sales of strategic investments
3,671 1,803 — 
Gains (losses) on strategic investments, net$1,541 $(154)$(802)
The following table summarizes the carrying amount of the Company’s strategic investments (in thousands):

July 31, 2025July 31, 2024
Equity investments using the measurement alternative
$18,263 $18,740 
Equity investment using net asset value
$1,781 $3,661 
Accrued Employee Compensation
Accrued employee compensation consists of the following (in thousands):
July 31, 2025July 31, 2024
Bonus$84,277 $70,847 
Commission19,285 8,128 
Vacation8,274 6,934 
Salaries, payroll taxes, and benefits28,777 23,175 
   Accrued employee compensation$140,613 $109,084 
Other Current Liabilities
Other current liabilities consist of the following (in thousands):
July 31, 2025July 31, 2024
Lease liabilities$10,438 $9,295 
Accrued royalties8,665 7,872 
Accrued taxes8,032 6,492 
Other8,004 8,925 
Other current liabilities$35,139 $32,584