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Income Taxes (Tables)

12 Months Ended

Jul. 31, 2025

Income Tax Disclosure [Abstract]

Company's income (loss) before provision for income taxes

The Company’s income (loss) before provision for (benefit from) income taxes is as follows (in thousands):

			Fiscal years ended July 31,
			2025						2024						2023
Domestic			$	24,752					$	(44,280)					$	(150,628)
International			24,643						17,442						16,534
Income (loss) before provision for (benefit from) income taxes			$	49,395					$	(26,838)					$	(134,094)

Schedule of Components of Income Tax Expense

The provision for (benefit from) income taxes consisted of the following (in thousands):

			Fiscal years ended July 31,
			2025						2024						2023
Current:
U.S. Federal			$	2,050					$	738					$	555
State			2,567						1,710						564
Foreign			4,656						3,563						3,904
Total current			9,273						6,011						5,023
Deferred:
U.S. Federal			(26,188)						(22,856)						(23,372)
State			(3,729)						(3,396)						(3,808)
Foreign			235						(494)						(82)
Total deferred			(29,682)						(26,746)						(27,262)
Total provision for (benefit from) income taxes			$	(20,409)					$	(20,735)					$	(22,239)

Effective Income Tax Rate Reconciliation

Differences between income taxes calculated using the statutory federal income tax rate of 21% and the provision for income taxes are as follows (in thousands):

			Fiscal years ended July 31,
			2025						2024						2023
Statutory federal income tax			$	10,375					$	(5,634)					$	(28,159)
State taxes, net of federal benefit			(1,200)						(1,702)						(3,253)
Stock-based compensation			(28,474)						(4,415)						9,902
Non-deductible officers' compensation			10,882						4,996						2,783
Foreign income taxed at different rates			(2,023)						(960)						(55)
Research tax credits			(14,884)						(12,067)						(7,817)
Base erosion and anti-abuse tax			3						(3,091)						(935)
Foreign earnings taxed in the U.S.			3,366						2,390						2,199
Non-deductible acquisition costs			—						30						617
Permanent differences and others			1,434						1,254						1,576
Change in valuation allowance			(5,682)						491						903
Foreign derived intangible income			(5,429)						(2,027)						—
Debt retirement expense			11,223						—						—
Total provision for (benefit from) income taxes			$	(20,409)					$	(20,735)					$	(22,239)

Tax effects of temporary differences

The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities are as follows (in thousands):

			As of July 31,
			2025						2024
Accruals and reserves			$	26,083					$	27,636
Stock-based compensation			10,174						9,077
Deferred revenue			1,284						711
Capitalized research and development			168,266						110,502
Property and equipment			398						—
Lease liabilities			8,612						9,908
Convertible debt			12,086						919
Net operating loss carryforwards			19,385						49,864
Tax credits			158,257						145,934
Total deferred tax assets			404,545						354,551
Less valuation allowance			66,295						65,791
Net deferred tax assets			338,250						288,760
Less deferred tax liabilities:
Intangible assets			16,859						12,682
Operating lease assets			7,782						9,130
Property and equipment			—						184
Unremitted foreign earnings			1,759						851
Capitalized commissions			18,831						15,022
Total deferred tax liabilities			45,231						37,869
Total net deferred tax assets			$	293,019					$	250,891

Net operating loss carryforwards

As of July 31, 2025, the Company had research and development tax credit (“R&D credit”) carryforwards of the following (in thousands):

U.S. Federal						$	98,595
California						71,173
Total R&D credit carryforwards						$	169,768

Summary of activity related to unrecognized tax benefits

Activity related to unrecognized tax benefits is as follows (in thousands):

			Fiscal years ended July 31,
			2025						2024						2023
Unrecognized tax benefits - beginning of period			$	21,520					$	20,518					$	18,786
Gross increases - prior period tax positions			2						231						1
Gross decreases - prior period tax positions			(134)						(2,664)						(982)
Gross increases - current period tax positions			4,352						3,435						2,713
Unrecognized tax benefits - end of period			$	25,740					$	21,520					$	20,518

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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