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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Oct. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Available-for-sale Securities Reconciliation | Available-for-sale investments within cash equivalents and investments consist of the following (in thousands):
| October 31, 2025
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Asset-backed securities | $ | 82,257 |  |  | $ | 136 |  |  | $ | (28) |  |  | $ | 82,365 |
Certificates of deposit | 72,450 |  |  | — |  |  | — |  |  | 72,450 |
Commercial paper | 171,511 |  |  | — |  |  | — |  |  | 171,511 |
Corporate bonds | 507,420 |  |  | 1,336 |  |  | (62) |  |  | 508,694 |
Foreign government bonds | 1,820 |  |  | 11 |  |  | — |  |  | 1,831 |
Money market funds | 294,010 |  |  | — |  |  | — |  |  | 294,010 |
U.S. Government agency securities | 79,034 |  |  | 67 |  |  | (16) |  |  | 79,085 |
U.S. Government bonds | 56,135 |  |  | 148 |  |  | (2) |  |  | 56,281 |
Total | $ | 1,264,637 |  |  | $ | 1,698 |  |  | $ | (108) |  |  | $ | 1,266,227 |
| July 31, 2025 |
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |
Asset-backed securities | $ | 69,405 |  |  | $ | 69 |  |  | $ | (17) |  |  | $ | 69,457 |  |
Certificates of deposit | 80,970 |  |  | — |  |  | — |  |  | 80,970 |  |
Commercial paper | 130,628 |  |  | — |  |  | — |  |  | 130,628 |  |
Corporate bonds | 424,791 |  |  | 545 |  |  | (138) |  |  | 425,198 |  |
Foreign government bonds | 1,820 |  |  | 11 |  |  | — |  |  | 1,831 |  |
Money market funds | 488,854 |  |  | — |  |  | — |  |  | 488,854 |  |
U.S. Government agency securities | 66,184 |  |  | 15 |  |  | (70) |  |  | 66,129 |  |
U.S. Government bonds | 64,187 |  |  | 36 |  |  | (39) |  |  | 64,184 |  |
Total | $ | 1,326,839 |  |  | $ | 676 |  |  | $ | (264) |  |  | $ | 1,327,251 |  |
Investments Classified by Contractual Maturity Date | The following table summarizes the contractual maturities of the Company’s available-for-sale investments measured at fair value (in thousands):
| October 31, 2025
| Less Than 12 Months |  | 12 Months or Greater |  | Total
Asset-backed securities | $ | 3,176 |  |  | $ | 79,189 |  |  | $ | 82,365 |
Certificates of deposit | 72,450 |  |  | — |  |  | 72,450 |
Commercial paper | 171,511 |  |  | — |  |  | 171,511 |
Corporate bonds | 272,823 |  |  | 235,871 |  |  | 508,694 |
Foreign government bonds | 1,831 |  |  | — |  |  | 1,831 |
Money market funds | 294,010 |  |  | — |  |  | 294,010 |
U.S. Government agency securities | 9,826 |  |  | 69,259 |  |  | 79,085 |
U.S. Government bonds | 43,235 |  |  | 13,046 |  |  | 56,281 |
Total | $ | 868,862 |  |  | $ | 397,365 |  |  | $ | 1,266,227 |
Fair Value, Assets Measured on Recurring Basis | The following tables summarize the Company’s available-for-sale investments measured at fair value, by level within the fair value hierarchy (in thousands):
| October 31, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents: |  |  |  |  |  |  |
Commercial paper | $ | — |  |  | $ | 54,991 |  |  | $ | — |  |  | $ | 54,991 |
Money market funds | 294,010 |  |  | — |  |  | — |  |  | 294,010 |
Total cash equivalents | 294,010 |  |  | 54,991 |  |  | — |  |  | 349,001 |
Short-term investments: |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 3,176 |  |  | — |  |  | 3,176 |
Certificates of deposit | — |  |  | 72,450 |  |  | — |  |  | 72,450 |
Commercial paper | — |  |  | 116,520 |  |  | — |  |  | 116,520 |
Corporate bonds | — |  |  | 272,823 |  |  | — |  |  | 272,823 |
Foreign government bonds | — |  |  | 1,831 |  |  | — |  |  | 1,831 |
U.S. Government agency securities | — |  |  | 9,826 |  |  | — |  |  | 9,826 |
U.S. Government bonds | — |  |  | 43,235 |  |  | — |  |  | 43,235 |
Total short-term investments | — |  |  | 519,861 |  |  | — |  |  | 519,861 |
Long-term investments: |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 79,189 |  |  | — |  |  | 79,189 |
Corporate bonds | — |  |  | 235,871 |  |  | — |  |  | 235,871 |
U.S. Government agency securities | — |  |  | 69,259 |  |  | — |  |  | 69,259 |
U.S. Government bonds | — |  |  | 13,046 |  |  | — |  |  | 13,046 |
Total long-term investments | — |  |  | 397,365 |  |  | — |  |  | 397,365 |
Total | $ | 294,010 |  |  | $ | 972,217 |  |  | $ | — |  |  | $ | 1,266,227 |
| July 31, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents: |  |  |  |  |  |  |
Commercial paper | $ | — |  |  | $ | 53,102 |  |  | $ | — |  |  | $ | 53,102 |
Money market funds | 488,854 |  |  | — |  |  | — |  |  | 488,854 |
Total cash equivalents | 488,854 |  |  | 53,102 |  |  | — |  |  | 541,956 |
Short-term investments: |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 11,393 |  |  | — |  |  | 11,393 |
Certificates of deposit | — |  |  | 80,970 |  |  | — |  |  | 80,970 |
Commercial paper | — |  |  | 77,526 |  |  | — |  |  | 77,526 |
Corporate bonds | — |  |  | 220,890 |  |  | — |  |  | 220,890 |
Foreign government bonds | — |  |  | 1,831 |  |  | — |  |  | 1,831 |
U.S. Government agency securities | — |  |  | 13,188 |  |  | — |  |  | 13,188 |
U.S. Government bonds | — |  |  | 45,743 |  |  | — |  |  | 45,743 |
Total short-term investments | — |  |  | 451,541 |  |  | — |  |  | 451,541 |
Long-term investments: |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 58,064 |  |  | — |  |  | 58,064 |
Corporate bonds | — |  |  | 204,308 |  |  | — |  |  | 204,308 |
U.S. Government agency securities | — |  |  | 52,941 |  |  | — |  |  | 52,941 |
U.S. Government bonds | — |  |  | 18,441 |  |  | — |  |  | 18,441 |
Total long-term investments | — |  |  | 333,754 |  |  | — |  |  | 333,754 |
Total | $ | 488,854 |  |  | $ | 838,397 |  |  | $ | — |  |  | $ | 1,327,251 |
Unrealized Gain (Loss) on Investments | The following table summarizes the unrealized and realized gains (losses) on strategic investments (in thousands):
|  | Three Months Ended |  |  |
|  | October 31, |  |  |
|  | 2025 |  | 2024 |  |  |  |  |
Unrealized gains (losses), net, recognized on privately held equity securities measured using net asset value |  | $ | (60) |  |  | $ | 53 |  |  |  |  |  |
Gains (losses) on strategic investments, net |  | $ | (60) |  |  | $ | 53 |  |  |  |  |  |
Equity Method Investments | The following table summarizes the carrying amount of the Company’s strategic investments (in thousands):
| October 31, 2025 |  | July 31, 2025
Equity investments using the measurement alternative | $ | 18,263 |  |  | $ | 18,263 |
Equity investment using net asset value | $ | 1,721 |  |  | $ | 1,781 |

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