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Net Income (Loss) per Share
 12 Months Ended
Jul. 31, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Net Income (Loss) Per Share
The Company calculates basic earnings per share by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. For calculating diluted earnings per share, the Company uses the treasury stock method for options to purchase common stock, Stock Awards, and ESPP purchase rights, and the if-converted method for the Convertible Senior Notes.
The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share for the fiscal years ended July 31, 2025, 2024, and 2023 (in thousands, except share and per share amounts):
 Fiscal years ended July 31,
 202520242023
Numerator:
Net income (loss)$69,804 $(6,103)$(111,855)
Net income (loss) per share:
Basic$0.83 $(0.07)$(1.36)
Diluted$0.81 $(0.07)$(1.36)
Denominator:
Weighted average shares used in computing net income (loss) per share:
Basic83,846,793 82,291,483 82,176,629 
Weighted average effect of dilutive stock options88,673 — — 
Weighted average effect of dilutive stock awards1,976,179 — — 
Weighted average effect of the ESPP purchase rights8 — 
Diluted85,911,653 82,291,483 82,176,629 
The following weighted average shares of potential common stock were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been anti-dilutive:
 Fiscal years ended July 31,
 202520242023
Stock options— 182,082 11,978 
Stock awards19,643 3,763,725 2,352,203 
ESPP purchase rights2,784 — — 
Convertible senior notes— 3,516,480 3,516,480 
During the fiscal year ended July 31, 2025, there was no dilutive effect on net income (loss) per share due to maturity and settlement of the outstanding principal balance of the 2025 Convertible Senior Notes. During the fiscal years ended July 31, 2024 and 2023, the average market price of the Company’s common stock did not exceed the initial conversion price of the 2025 Convertible Senior Notes.
During the fiscal year ended July 31, 2025, the average market price of the Company’s common stock did not exceed the initial conversion price of the 2029 Convertible Senior Notes.