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Fair Value of Financial Instruments (Tables)

3 Months Ended

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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- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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