0000950170-22-026156 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Oct. 31, 2022	Nov. 30, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2022
Document Transition Report	false
Entity File Number	001-37883
Entity Registrant Name	NUTANIX, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-0989767
Entity Address, Address Line One	1740 Technology Drive, Suite 150
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95110
City Area Code	(408)
Local Phone Number	216-8360
Title of 12(b) Security	Class A Common Stock, $0.000025 par value per share
Trading Symbol	NTNX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		230,110,596
Entity Central Index Key	0001618732
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Current assets:
Cash and cash equivalents	$ 480,617	$ 402,850
Short-term investments	907,441	921,429
Accounts receivable, net of allowances of $644 and $642, respectively	83,638	124,559
Deferred commissions—current	109,871	115,356
Prepaid expenses and other current assets	90,528	93,787
Total current assets	1,672,095	1,657,981
Property and equipment, net	111,361	113,440
Operating lease right-of-use assets	111,522	118,740
Deferred commissions—non-current	242,506	252,234
Intangible assets, net	12,670	15,829
Goodwill	185,260	185,260
Other assets—non-current	22,008	22,265
Total assets	2,357,422	2,365,749
Liabilities and Stockholders’ Deficit
Deferred revenue—non-current	712,658	724,545
Operating lease liabilities—non-current	81,820	89,782
Convertible senior notes, net	1,176,259	1,156,205
Other liabilities—non-current	29,935	35,161
Total liabilities	3,148,471	3,155,917
Current liabilities:
Accounts payable	30,838	44,931
Accrued compensation and benefits	119,991	149,811
Accrued expenses and other current liabilities	46,151	49,232
Deferred revenue—current	768,918	720,993
Operating lease liabilities—current	36,296	39,801
Convertible senior notes, net-current	145,605	145,456
Total current liabilities	1,147,799	1,150,224
Commitments and contingencies (Note 7)
Stockholders’ deficit:
Preferred stock, par value of $0.000025 per share- 200,000 shares authorized as of July 31, 2022 and October 31, 2022; no shares issued and outstanding as of July 31, 2022 and October 31, 2022	0	0
Common stock, par value of $0.000025 per share - 1,042,004 (1,000,000 Class A, 42,004 Class B) shares authorized as of July 31, 2022 and October 31, 2022; 226,938 and 230,108 Class A shares issued and outstanding as of July 31, 2022 and October 31, 2022, respectively	6	6
Additional paid-in capital	3,685,805	3,583,928
Accumulated other comprehensive (loss) income	(9,718)	(6,076)
Accumulated deficit	(4,467,142)	(4,368,026)
Total stockholders’ deficit	(791,049)	(790,168)
Total liabilities and stockholders’ deficit	$ 2,357,422	$ 2,365,749

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Accounts receivable, allowance for credit loss	$ 642	$ 644
Preferred stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	1,042,004,000	1,042,004,000
Common Class A
Common stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Common stock, shares authorized (in shares)	1,000,000,000.0	1,000,000,000
Common stock, shares issued (in shares)	230,108,000	226,938,000
Common stock, shares outstanding (in shares)	230,108,000	226,938,000
Common Class B
Common stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Common stock, shares authorized (in shares)	42,004,000	42,004,000
Common stock, shares issued (in shares)	0
Common stock, shares outstanding (in shares)	0

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Oct. 31, 2022

Oct. 31, 2021

Revenue:

Total revenue

$ 433,609

$ 378,517

Cost of revenue:

Total cost of revenue

82,495

81,446

Gross profit

351,114

297,071

Operating expenses:

Sales and marketing

236,072

250,033

Research and development

149,195

144,266

General and administrative

46,104

40,028

Total operating expenses

431,371

434,327

Loss from operations

(80,257)

(137,256)

Other expense, net

(13,416)

(278,549)

Loss before provision for income taxes

(93,673)

(415,805)

Provision for income taxes

5,443

4,047

Net loss

$ (99,116)

$ (419,852)

Net loss per share attributable to Class A common stockholders-basic

^[1]

$ (0.43)

$ (1.95)

Net loss per share attributable to Class A common stockholders-diluted

^[1]

$ (0.43)

$ (1.95)

Weighted average shares used in computing net loss per share attributable to Class A common stockholders-basic

^[1]

228,544

215,499

Weighted average shares used in computing net loss per share attributable to Class A common stockholders-diluted

^[1]

228,544

215,499

Product

Revenue:

Total revenue

$ 208,574

$ 180,105

Cost of revenue:

Total cost of revenue

12,516

14,221

Support, Entitlements and Other Services

Revenue:

Total revenue

225,035

198,412

Cost of revenue:

Total cost of revenue

$ 69,979

$ 67,225

[1]	Effective January 3, 2022, all of the then outstanding shares of Nutanix, Inc. Class B common stock were automatically converted into the same number of shares of Nutanix, Inc. Class A common stock. See Note 8 for further details.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (99,116)	$ (419,852)
Other comprehensive loss, net of tax:
Change in unrealized loss on available-for-sale securities, net of tax	(3,642)	(651)
Comprehensive loss	$ (102,758)	$ (420,503)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Stockholders' equity, beginning balance at Jul. 31, 2021	$ (1,012,041)	$ 5	$ 2,615,317	$ (8)	$ (3,627,355)
Stockholders' equity, beginning balance (ASU 2020-06) at Jul. 31, 2021	(48,013)		(148,598)		100,585
Stockholders' equity, beginning balance (in shares) at Jul. 31, 2021		214,210
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2026 Notes derivative liability reclassification	698,213		698,213
Issuance of common stock through employee equity incentive plans	1,352		1,352
Issuance of common stock through employee equity incentive plans (in shares)		2,809
Issuance of common stock from ESPP purchase	28,786		28,786
Issuance of common stock from ESPP purchase (in shares)		1,309
Repurchase and retirement of common stock	(58,570)		(14,852)		(43,718)
Repurchase and retirement of common stock (in shares)		(1,369)
Unwinding of 2023 Notes hedges	39,880		39,880
Unwinding of 2023 Notes warrants	(18,390)		(18,390)
Stock-based compensation	90,547		90,547
Other comprehensive loss	(651)			(651)
Net loss	(419,852)				(419,852)
Stockholders' equity, ending balance at Oct. 31, 2021	(698,739)	$ 5	3,292,255	(659)	(3,990,340)
Stockholders' equity, ending balance (in shares) at Oct. 31, 2021		216,959
Stockholders' equity, beginning balance at Jul. 31, 2022	(790,168)	$ 6	3,583,928	(6,076)	(4,368,026)
Stockholders' equity, beginning balance (in shares) at Jul. 31, 2022		226,938
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through employee equity incentive plans	1,975		1,975
Issuance of common stock through employee equity incentive plans (in shares)		2,172
Issuance of common stock from ESPP purchase	18,947		18,947
Issuance of common stock from ESPP purchase (in shares)		998
Stock-based compensation	80,955		80,955
Other comprehensive loss	(3,642)			(3,642)
Net loss	(99,116)				(99,116)
Stockholders' equity, ending balance at Oct. 31, 2022	$ (791,049)	$ 6	$ 3,685,805	$ (9,718)	$ (4,467,142)
Stockholders' equity, ending balance (in shares) at Oct. 31, 2022		230,108

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

Oct. 31, 2022

Oct. 31, 2021

Cash flows from operating activities:

Net loss

$ (99,116)

$ (419,852)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Depreciation and amortization

19,839

23,291

Stock-based compensation

80,955

90,547

Change in fair value of derivative liability

198,038

Loss on debt extinguishment

64,910

Amortization of debt discount and issuance costs

10,477

9,831

Operating lease cost, net of accretion

8,722

9,189

Early exit of lease-related assets

(304)

Non-cash interest expense

4,894

4,773

Other

(776)

3,072

Changes in operating assets and liabilities:

Accounts receivable, net

40,838

64,740

Deferred commissions

15,213

(6,225)

Prepaid expenses and other assets

958

6,751

Accounts payable

(7,104)

(3,139)

Accrued compensation and benefits

(29,820)

(39,965)

Accrued expenses and other liabilities

(3,474)

(6,207)

Operating leases, net

(11,910)

(12,323)

Deferred revenue

36,121

19,508

Net cash (used in) provided by operating activities

65,513

6,939

Cash flows from investing activities:

Maturities of investments

267,667

272,024

Purchases of investments

(256,202)

(290,050)

Sales of investments

17,999

Purchases of property and equipment

(19,702)

(8,844)

Net cash used in investing activities

(8,237)

(8,871)

Cash flows from financing activities:

Payments of debt extinguishment costs

(14,709)

Proceeds from unwinding of convertible note hedges

39,880

Payments for unwinding of warrants

(18,390)

Proceeds from sales of shares through employee equity incentive plans

22,186

30,139

Proceeds from the issuance of convertible notes, net of issuance costs

89,128

Repurchases of common stock

(58,570)

Payment of finance lease obligations

(1,856)

(219)

Net cash provided by financing activities

20,330

67,259

Net (decrease) increase in cash, cash equivalents and restricted cash

77,606

65,327

Cash, cash equivalents and restricted cash—beginning of period

405,862

288,873

Cash, cash equivalents and restricted cash—end of period

483,468

354,200

Restricted cash

^[1]

2,851

3,215

Cash and cash equivalents—end of period

480,617

350,985

Supplemental disclosures of cash flow information:

Cash paid for income taxes

7,635

6,181

Supplemental disclosures of non-cash investing and financing information:

Purchases of property and equipment included in accounts payable and accrued and other liabilities

10,748

12,099

Finance lease liabilities arising from obtaining right-of-use assets

9,822

7,857

Convertible senior notes offering costs included in accrued liabilities

$ 0

$ 700

[1]	Included within other assets—non-current in the condensed consolidated balance sheets.

Overview and Basis of Presentation

3 Months Ended

Oct. 31, 2022

Accounting Policies [Abstract]

Overview and Basis of Presentation

NOTE 1. OVERVIEW AND BASIS OF PRESENTATION

Organization and Description of Business

Nutanix, Inc. was incorporated in the state of Delaware in September 2009. Nutanix, Inc. is headquartered in San Jose, California, and together with its wholly-owned subsidiaries (collectively, "we," "us," "our" or "Nutanix"), has operations throughout North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa.

We provide a leading enterprise cloud platform, which we call the Nutanix Cloud Platform, that consists of software solutions and cloud services that power our customers’ enterprise infrastructure. Our solutions deliver a consistent cloud operating model across edge, private-, hybrid- and multicloud environments for all applications and their data. Our solutions allow organizations to simply move their workloads, including enterprise applications, high-performance databases, end-user computing and virtual desktop infrastructure ("VDI") services, container-based modern applications, and analytics applications, between on-premises and public clouds. Our solutions are primarily sold through channel partners and original equipment manufacturers ("OEMs") (collectively, "Partners"), and delivered directly to our end customers.

Principles of Consolidation and Significant Accounting Policies

The accompanying condensed consolidated financial statements, which include the accounts of Nutanix, Inc. and its wholly-owned subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") and are consistent in all material respects with those included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2022, filed with the Securities and Exchange Commission ("SEC") on September 21, 2022. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited, but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. The consolidated balance sheet as of July 31, 2022 is derived from audited financial statements; however, it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2022.

Use of Estimates

The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such management estimates and assumptions include, but are not limited to, the best estimate of selling prices for products and related support; useful lives and recoverability of intangible assets and property and equipment; allowance for credit losses; determination of fair value of stock-based awards; accounting for income taxes, including the valuation allowance on deferred tax assets and uncertain tax positions; warranty liability; purchase commitment liabilities to our contract manufacturers; sales commissions expense and the period of benefit for deferred commissions; whether an arrangement is or contains a lease; the incremental borrowing rate to measure the present value of right-of-use assets and lease liabilities; the inputs used to determine the fair value of the contingent liability associated with the conversion feature of the 2.50% convertible senior notes due 2026 (the "2026 Notes"); and contingencies and litigation. Management evaluates these estimates and assumptions on an ongoing basis using historical experience and other factors and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.

In response to the ongoing and continuously evolving COVID-19 pandemic, we considered the impact of the economic implications on our critical and significant accounting estimates, including assessment of collectibility of customer contracts, valuation of accounts receivable, provision for purchase commitments to our contract manufacturers and impairment of long-lived assets, right-of-use assets, and deferred commissions.

Concentration of Risk

Concentration of revenue and accounts receivable—We sell our products primarily through our Partners and occasionally directly to end customers. For the three months ended October 31, 2021 and 2022, no end customer accounted for more than 10% of total revenue or accounts receivable.

For each significant Partner, revenue as a percentage of total revenue and accounts receivable as a percentage of total accounts receivable, net are as follows:


	Revenue						Accounts Receivable as of
	Three Months Ended October 31,						July 31, 2022			October 31, 2022
Partners	2021			2022
Partner A		31	%		32	%		26	%		34	%
Partner B		14	%		13	%	(1)				19	%
Partner C		14	%		17	%		11	%		14	%
Partner D	(1)			(1)			(1)				11	%

(1)

Less than 10%

Summary of Significant Accounting Policies

There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2022, filed with the SEC on September 21, 2022, that have had a material impact on our condensed consolidated financial statements.

Revenue, Deferred Revenue and Deferred Commissions

3 Months Ended

Oct. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Revenue, Deferred Revenue and Deferred Commissions

NOTE 2. REVENUE, DEFERRED REVENUE AND DEFERRED COMMISSIONS

Disaggregation of Revenue and Revenue Recognition

We generate revenue primarily from the sale of our enterprise cloud platform, which can be delivered pre-installed on an appliance that is configured to order or delivered separately to be utilized on a variety of certified hardware platforms. When the software license is not portable to other appliances, it can be used over the life of the associated appliance, while subscription term-based licenses typically have a term of one to five years. Configured-to-order appliances, including our Nutanix-branded NX hardware line, can be purchased from one of our OEMs or in limited cases, directly from Nutanix. Our enterprise cloud platform typically includes one or more years of support and entitlements, which provides customers with the right to software upgrades and enhancements as well as technical support. A substantial portion of sales are made through channel partners and OEM relationships.

The following table depicts the disaggregation of revenue by revenue type, consistent with how we evaluate our financial performance:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Subscription	$	337,901	$	402,924
Non-portable software		14,337		7,783
Hardware		2,163		624
Professional services		24,116		22,278
Total revenue	$	378,517	$	433,609

Subscription revenue — Subscription revenue includes any performance obligation which has a defined term and is generated from the sales of software entitlement and support subscriptions, subscription software licenses and cloud-based software as a service ("SaaS") offerings.

•

Ratable — We recognize revenue from software entitlement and support subscriptions and SaaS offerings ratably over the contractual service period, the substantial majority of which relate to software entitlement and support subscriptions. These offerings represented approximately $183.1 million and $213.4 million of our subscription revenue for the three months ended October 31, 2021 and 2022, respectively.

•

Upfront — Revenue from our subscription software licenses is generally recognized upfront upon transfer of control to the customer, which happens when we make the software available to the customer. These subscription software licenses represented approximately $154.8 million and $189.5 million of our subscription revenue for the three months ended October 31, 2021 and 2022, respectively.

Non-portable software revenue — Non-portable software revenue includes sales of our enterprise cloud platform when delivered on a configured-to-order appliance by us or one of our OEM partners. The software licenses associated with these sales are typically non-portable and can be used over the life of the appliance on which the software is delivered. Revenue from our non-portable software products is generally recognized upon transfer of control to the customer.

Hardware revenue — In transactions where the hardware appliance is purchased directly from Nutanix, we consider ourselves to be the principal in the transaction and we record revenue and costs of goods sold on a gross basis. We consider the amount allocated to hardware revenue to be equivalent to the cost of the hardware procured. Hardware revenue is generally recognized upon transfer of control to the customer.

Professional services revenue — We also sell professional services with our products. We recognize revenue related to professional services as they are performed.

Contracts with multiple performance obligations — The majority of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price ("SSP") basis. For deliverables that we routinely sell separately, such as software entitlement and support subscriptions on our core offerings, we determine SSP by evaluating the standalone sales over the trailing 12 months. For those that are not sold routinely, we determine SSP based on our overall pricing trends and objectives, taking into consideration market conditions and other factors, including the value of our contracts, the products sold and geographic locations.

Contract balances — The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for credit losses. A receivable is recognized in the period in which we deliver goods or provide services, or when our right to consideration is unconditional. In situations where revenue recognition occurs before invoicing, an unbilled receivable is created, which represents a contract asset. Unbilled accounts receivable, included in accounts receivable, net on the condensed consolidated balance sheets, was not material for any of the periods presented.

Payment terms on invoiced amounts are typically 30-45 days. We assess credit losses on accounts receivable by taking into consideration past collection experience, the credit quality of the customer, the age of the receivable balance, current and future economic conditions, and forecasts that may affect the collectibility of the reported amount. The balance of accounts receivable, net of allowance for credit losses, as of July 31, 2022 and October 31, 2022 is presented in the accompanying condensed consolidated balance sheets.

Costs to obtain and fulfill a contract — We capitalize commissions paid to sales personnel and the related payroll taxes when customer contracts are signed. These costs are recorded as deferred commissions in the condensed consolidated balance sheets, current and non-current. We determine whether costs should be deferred based on our sales compensation plans, if the commissions are incremental and would not have been incurred absent the execution of the customer contract. Commissions paid upon the initial acquisition of a contract are recognized over the estimated period of benefit, which may exceed the term of the initial contract if the commissions expected to be paid upon renewal are not commensurate with that of the initial contract. Accordingly, deferred costs are recognized on a systematic basis that is consistent with the pattern of revenue recognition allocated to each performance obligation over the entire period of benefit and included in sales and marketing expense in the condensed consolidated statements of operations. We determine the estimated period of benefit by evaluating the expected renewals of customer contracts, the duration of relationships with our customers, customer retention data, our technology development lifecycle and other factors. Deferred costs are periodically reviewed for impairment.

Taxes assessed by a government authority that are both imposed on and concurrent with specific revenue transactions between us and our customers are presented on a net basis in our condensed consolidated statements of operations.

Deferred revenue — Deferred revenue primarily consists of amounts that have been invoiced but not yet recognized as revenue and primarily pertain to software entitlement and support subscriptions and professional services. The current portion of deferred revenue represents the amounts that are expected to be recognized as revenue within one year of the condensed consolidated balance sheet date.

Significant changes in the balance of deferred revenue (contract liability) and deferred commissions (contract asset) for the periods presented are as follows:


	Deferred Revenue			Deferred Commissions
	(in thousands)
Balance as of July 31, 2022	$	1,445,538		$	367,590
Additions (1)		469,647			33,112
Revenue/commissions recognized		(433,609	)		(48,325	)
Balance as of October 31, 2022	$	1,481,576		$	352,377

(1)

Includes both billed and unbilled amounts.

During the three months ended October 31, 2021, we recognized revenue of approximately $183.3 million pertaining to amounts deferred as of July 31, 2021. During the three months ended October 31, 2022, we recognized revenue of approximately $210.9 million pertaining to amounts deferred as of July 31, 2022.

Many of our contracted but not invoiced performance obligations are subject to cancellation terms. Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized ("contracted not recognized"), which includes deferred revenue and non-cancelable amounts that will be invoiced and recognized as revenue in future periods and excludes performance obligations that are subject to cancellation terms. Contracted not recognized revenue was approximately $1.6 billion as of October 31, 2022, of which we expect to recognize approximately 55% over the next 12 months, and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Fair Value Measurements

3 Months Ended

Oct. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 3. FAIR VALUE MEASUREMENTS

The fair value of our financial assets measured on a recurring basis is as follows:


	As of July 31, 2022
	Level I		Level II		Level III		Total
	(in thousands)
Financial Assets:
Cash equivalents:
Money market funds	$	227,796	$	—	$	—	$	227,796
Commercial paper		—		27,927		—		27,927
Short-term investments:
Corporate bonds		—		409,024		—		409,024
Commercial paper		—		317,738		—		317,738
U.S. Government securities		—		194,667		—		194,667
Total measured at fair value	$	227,796	$	949,356	$	—	$	1,177,152
Cash								147,127
Total cash, cash equivalents and short-term investments							$	1,324,279


	As of October 31, 2022
	Level I		Level II		Level III		Total
	(in thousands)
Financial Assets:
Cash equivalents:
Money market funds	$	206,271	$	—	$	—	$	206,271
U.S. Government securities		—		15,439		—		15,439
Commercial paper		—		102,753		—		102,753
Corporate bonds		—		7,988		—		7,988
Short-term investments:
Corporate bonds		—		442,753		—		442,753
Commercial paper		—		270,678		—		270,678
U.S. Government securities		—		194,010		—		194,010
Total measured at fair value	$	206,271	$	1,033,621	$	—	$	1,239,892
Cash								148,166
Total cash, cash equivalents and short-term investments							$	1,388,058

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

We report our financial instruments at fair value, with the exception of the 0% convertible senior notes due 2023 (the "2023 Notes"), the 2026 Notes and the 0.25% convertible senior notes due 2027 (the "2027 Notes") (collectively, the "Notes"). Financial instruments that are not recorded at fair value on a recurring basis are measured at fair value on a quarterly basis for disclosure purposes. The carrying values and estimated fair values of financial instruments not recorded at fair value are as follows:


	As of July 31, 2022				As of October 31, 2022
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(in thousands)
2023 Notes	$	145,456	$	143,154	$	145,605	$	143,622
2026 Notes		589,200		759,086		608,872		958,746
2027 Notes		567,005		400,252		567,387		495,938
Total	$	1,301,661	$	1,302,492	$	1,321,864	$	1,598,306

The carrying value of the 2023 Notes as of July 31, 2022 was net of unamortized debt issuance costs of $0.2 million. The carrying value of the 2023 Notes as of October 31, 2022 was net of unamortized debt issuance costs of $0.1 million.

The carrying value of the 2026 Notes as of July 31, 2022 and October 31, 2022 included $28.0 million and $37.7 million, respectively, of non-cash interest expense that was converted to the principal balance, net of unamortized debt discounts of $169.4 million and $160.5 million, respectively, and unamortized debt issuance costs of $19.4 million and $18.3 million, respectively.

The carrying value of the 2027 Notes as of July 31, 2022 and October 31, 2022 was net of unamortized debt issuance costs of $8.0 million and $7.6 million, respectively.

The total estimated fair value of the 2023 Notes was determined based on the closing trading price per $100 of the 2023 Notes as of the last day of trading for the period. We consider the fair value of the 2023 Notes to be a Level 2 valuation due to the limited trading activity.

The total estimated fair value of the 2026 Notes is based on a binomial model. We consider the fair value of the 2026 Notes to be a Level 3 valuation, as the 2026 Notes are not publicly traded. The Level 3 inputs used are the same as those used to determine the estimated fair value of the associated derivative liability, as detailed below.

The total estimated fair value of the 2027 Notes was determined based on the closing trading price per $100 of the 2027 Notes as of the last day of trading for the period. We consider the fair value of the 2027 Notes to be a Level 2 valuation due to the limited trading activity.

Derivative Liability

The conversion feature of the 2026 Notes represented an embedded derivative at inception. The 2026 Notes are not considered to be conventional debt and we determined that the embedded conversion feature was required to be bifurcated from the host debt and accounted for as a derivative liability, as the 2026 Notes were convertible into a variable number of shares until the conversion price became fixed in September 2021, based on the level of achievement of the associated financial performance metric. As such, the initial fair value of the derivative instrument was recorded as a liability in the condensed consolidated balance sheet with the corresponding amount recorded as a discount to the 2026 Notes upon issuance. The derivative liability is considered a Level 3 valuation and was recorded at its estimated fair value at the end of each reporting period and as of September 15, 2021, when the conversion price became fixed, with the change in fair value recognized within other expense, net in the condensed consolidated statements of operations.

On September 15, 2021, the conversion price of the 2026 Notes became fixed and the bifurcated liability was no longer accounted for as a separate derivative because the conversion features are now considered indexed to our own equity and meet the equity classification conditions. We estimated the fair value of the derivative liability as of September 15, 2021 to be $698.2 million, which was reclassified to equity on that date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Components

3 Months Ended

Oct. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

NOTE 4. BALANCE SHEET COMPONENTS

Short-Term Investments

The amortized cost of our short-term investments approximates their fair value. Unrealized losses related to our short-term investments are generally due to interest rate fluctuations, as opposed to credit quality. However, we review individual securities that are in an unrealized loss position in order to evaluate whether or not they have experienced or are expected to experience credit losses that would result in a decline in fair value. As of July 31, 2022 and October 31, 2022, unrealized gains and losses from our short-term investments were not material and were not the result of a decline in credit quality. As a result, as of July 31, 2022 and October 31, 2022, we did not record any credit losses for these investments.

The following table summarizes the estimated fair value of our investments in marketable debt securities by their contractual maturity dates:


	As of October 31, 2022
	(in thousands)
Due within one year	$	747,032
Due in one to two years		160,409
Total	$	907,441

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consists of the following:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
Prepaid operating expenses	$	48,842	$	51,080
VAT receivables		7,514		6,362
Other current assets		37,431		33,086
Total prepaid expenses and other current assets	$	93,787	$	90,528

Property and Equipment, Net

Property and equipment, net consists of the following:


		As of
	Estimated Useful Life	July 31, 2022			October 31, 2022
	(in months)	(in thousands)
Computer, production, engineering and other equipment	36	$	341,536		$	353,432
Demonstration units	12		61,914			61,945
Leasehold improvements	(1)		61,443			61,937
Furniture and fixtures	60		16,508			16,433
Total property and equipment, gross			481,401			493,747
Less: accumulated depreciation			(367,961	)		(382,386	)
Total property and equipment, net		$	113,440		$	111,361

(1)

Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

Depreciation expense related to our property and equipment was $18.7 million and $16.0 million for the three months ended October 31, 2021 and 2022, respectively.

Goodwill and Intangible Assets, Net

There was no change in the carrying value of goodwill during the three months ended October 31, 2022.

Intangible assets, net consists of the following:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Developed technology	$	79,300		$	79,300
Customer relationships		8,860			8,860
Trade name		4,170			4,170
Total intangible assets, gross		92,330			92,330
Less:
Accumulated amortization of developed technology		(64,344	)		(67,154	)
Accumulated amortization of customer relationships		(8,074	)		(8,336	)
Accumulated amortization of trade name		(4,083	)		(4,170	)
Total accumulated amortization		(76,501	)		(79,660	)
Total intangible assets, net	$	15,829		$	12,670

Amortization expense related to our intangible assets is being recognized in the condensed consolidated statements of operations within product cost of revenue for developed technology and sales and marketing expense for customer relationships and trade name.

The estimated future amortization expense of our intangible assets is as follows:


Fiscal Year Ending July 31:	Amount
	(in thousands)
2023	$	7,697
2024		3,210
2025		1,763
Total	$	12,670

Accrued Compensation and Benefits

Accrued compensation and benefits consists of the following:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
Accrued wages and taxes	$	20,807	$	26,664
Accrued vacation		23,140		21,632
Payroll taxes payable		21,060		20,828
Accrued commissions		32,886		14,743
Accrued benefits		11,774		12,441
Contributions to ESPP withheld		19,174		9,227
Accrued bonus		9,782		5,944
Other		11,188		8,512
Total accrued compensation and benefits	$	149,811	$	119,991

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consists of the following:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
Income taxes payable	$	13,206	$	10,059
Accrued professional services		5,499		5,465
Other		30,527		30,627
Total accrued expenses and other current liabilities	$	49,232	$	46,151

Convertible Senior Notes

3 Months Ended

Oct. 31, 2022

Debt Disclosure [Abstract]

Convertible Senior Notes

NOTE 5. CONVERTIBLE SENIOR NOTES

2023 Notes

In January 2018, we issued the 2023 Notes with a 0% interest rate for an aggregate principal amount of $575.0 million, due in 2023, in a private placement to qualified institutional buyers pursuant to Rule144A under the Securities Act. This included $75.0 million in aggregate principal amount of the 2023 Notes that we issued resulting from initial purchasers fully exercising their option to purchase additional notes. There are no required principal payments on the 2023 Notes prior to their maturity. The total net proceeds from the issuance of the 2023 Notes were as follows:


	Amount
	(in thousands)
Principal amount	$	575,000
Less: initial purchasers' discount		(10,781	)
Less: cost of the bond hedges		(143,175	)
Add: proceeds from the sale of warrants		87,975
Less: other issuance costs		(707	)
Net proceeds	$	508,312

The 2023 Notes do not bear any interest and will mature on January 15, 2023, unless earlier converted or repurchased in accordance with their terms. The 2023 Notes are unsecured and do not contain any financial covenants or any restrictions on the payment of dividends, or the issuance or repurchase of securities by us.

Each $1,000 of principal of the 2023 Notes is initially convertible into 20.4705 shares of our Class A common stock, which is equivalent to an initial conversion price of approximately $48.85 per share, subject to adjustment upon the occurrence of specified events. Holders of these 2023 Notes may convert their 2023 Notes at their option at any time prior to the close of the business day immediately preceding October 15, 2022, only under the following circumstances:

(1)

during any fiscal quarter commencing after the fiscal quarter ended April 30, 2018 (and only during such fiscal quarter), if the last reported sale price of our Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter, is greater than or equal to 130% of the conversion price on each applicable trading day;

(2)

during the five business day period after any five consecutive trading day period (the "measurement period") in which the trading price per $1,000 principal amount of 2023 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our Class A common stock and the conversion rate for the 2023 Notes on each such trading day; or

(3)

upon the occurrence of certain specified corporate events.

Based on the closing price of our Class A common stock of $27.40 on October 31, 2022, the if-converted value of the 2023 Notes was lower than the principal amount. The price of our Class A common stock was not greater than or equal to 130% of the conversion price for 20 or more trading days during the 30 consecutive trading days ending on the last trading day of the quarter ended October 31, 2022. As such, the 2023 Notes are not convertible for the fiscal quarter commencing after October 31, 2022.

On or after October 15, 2022, holders may convert all or any portion of their 2023 Notes at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, regardless of the foregoing conditions.

Upon conversion of the 2023 Notes, we will pay or deliver, as the case may be, cash, shares of our Class A common stock or a combination of cash and shares of Class A common stock, at our election. We intend to settle the principal of the 2023 Notes in cash.

The conversion rate will be subject to adjustment in some events, but will not be adjusted for any accrued or unpaid interest. A holder who converts their 2023 Notes in connection with certain corporate events that constitute a "make-whole fundamental change" per the indenture governing the 2023 Notes are, under certain circumstances, entitled to an increase in the conversion rate. In addition, if we undergo a fundamental change prior to the maturity date, holders may require us to repurchase for cash all or a portion of their 2023 Notes at a repurchase price equal to 100% of the principal amount of the repurchased 2023 Notes, plus accrued and unpaid interest.

We may not redeem the 2023 Notes prior to the maturity date, and no sinking fund is provided for the 2023 Notes.

On September 22, 2021, we consummated privately negotiated exchanges with certain holders of the outstanding 2023 Notes, pursuant to which such holders exchanged approximately $416.5 million in aggregate principal amount of 2023 Notes for $477.3 million in aggregate principal amount of 2027 Notes. We also entered into privately negotiated transactions with certain holders of the 2023 Notes pursuant to which we repurchased approximately $12.8 million in aggregate principal amount of 2023 Notes for cash. Following the closing of these exchanges and repurchases, approximately $145.7 million in aggregate principal amount of 2023 Notes remains outstanding with terms unchanged.

The 2023 Notes consisted of the following:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Principal amounts:
Principal	$	145,704		$	145,704
Unamortized debt issuance costs (1)		(248	)		(99	)
Net carrying amount	$	145,456		$	145,605

(1)

Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2023 Notes using the effective interest rate method. The effective interest rate is 0.41%.

As of October 31, 2022, the remaining life of the 2023 Notes was approximately 2 months.

The following table sets forth the total interest expense recognized related to the 2023 Notes:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Interest expense related to amortization of debt issuance costs	$	400	$	149

Note Hedges and Warrants

Concurrently with the offering of the 2023 Notes in January 2018, we entered into convertible note hedge transactions with certain bank counterparties, whereby we have the initial option to purchase a total of approximately 11.8 million shares of our Class A common stock at a conversion price of approximately $48.85 per share, subject to adjustment for certain specified events. The total cost of the convertible note hedge transactions was approximately $143.2 million. In addition, we sold warrants to certain bank counterparties, whereby the holders of the warrants have the initial option to purchase a total of approximately 11.8 million shares of our Class A common stock at a price of $73.46 per share, subject to adjustment for certain specified events. We received approximately $88.0 million in cash proceeds from the sale of these warrants.

Taken together, the purchase of the convertible note hedges and the sale of warrants are intended to offset any actual dilution from the conversion of the 2023 Notes and to effectively increase the overall conversion price from $48.85 to $73.46 per share. As these transactions meet certain accounting criteria, the convertible note hedges and warrants are recorded within stockholders’ equity and are not accounted for as derivatives. The net cost incurred in connection with the convertible note hedge and warrant transactions of approximately $55.2 million was recorded as a reduction to additional paid-in capital in the condensed consolidated balance sheet. The fair value of the note hedges and warrants are not remeasured each reporting period. The amounts paid for the note hedges were tax deductible expenses, while the proceeds received from the warrants were not taxable.

In September 2021, in connection with the exchange and repurchase transactions described above, we terminated portions of the convertible note hedge transactions and warrant transactions previously entered into with certain financial institutions in connection with the issuance of the 2023 Notes. The net effect of these unwind transactions was a $21.5 million cash payment received, consisting of an $18.4 million payment for the warrant unwind and the receipt of $39.9 million from the hedge unwind. The amounts paid and received as part of the unwind transactions were recorded to additional paid-in capital within the condensed consolidated balance sheet.

The note hedges are required to be excluded from the calculation of diluted earnings per share ("EPS"), as they would be antidilutive. In periods when we report a net loss, basic net loss per share and diluted net loss per share are the same, as the effect of potential common shares is antidilutive, and the potential impact of the 2023 Notes is therefore excluded.

The warrants will have a dilutive effect when the average share price exceeds the warrant strike price of $73.46 per share. As the price of our Class A common stock continues to increase above the warrant strike price, additional dilution would occur at a declining rate so that a $10 increase from the warrant strike price would yield a cumulative dilution of approximately 0.4 million diluted shares for EPS purposes. However, upon conversion, the note hedges would neutralize the dilution from the 2023 Notes so that there would only be dilution from the warrants, which would result in an actual dilution of approximately 2.1 million shares at a common stock price of $83.46.

2026 Notes

In September 2020, we issued $750.0 million in aggregate principal amount of the 2026 Notes to BCPE Nucleon (DE) SPV, LP, an entity affiliated with Bain Capital, LP ("Bain"). The total net proceeds from this offering were approximately $723.7 million, after deducting $26.3 million of debt issuance costs.

The 2026 Notes bear interest at a rate of 2.5% per annum, with such interest to be paid in kind ("PIK") on the 2026 Notes held by Bain through an increase in the principal amount of the 2026 Notes, and paid in cash on any 2026 Notes transferred to entities that are not affiliated with Bain. Interest on the 2026 Notes has accrued from the date of issuance (September 24, 2020) and is added to the principal amount on a semi-annual basis (on March 15 and September 15 of each year, beginning on March 15, 2021). The 2026 Notes mature on September 15, 2026, subject to earlier conversion, redemption or repurchase.

The 2026 Notes are convertible into our shares of Class A common stock based on an initial conversion rate of 36.036 shares of common stock per $1,000 principal amount of the 2026 Notes, which is equal to an initial conversion price of $27.75 per share, subject to customary anti-dilution and other adjustments, including in connection with any make-whole adjustments as a result of certain extraordinary transactions. In September 2021, the one-year anniversary of the issuance of the 2026 Notes, the conversion price was subject to a one-time adjustment, based on the level of achievement of certain financial milestones and as a result, the conversion price became fixed at $27.75 per share.

On or after September 15, 2025, the 2026 Notes will be redeemable by us in the event that the closing sale price of our Class A common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide the redemption notice, for cash, at a redemption price of 100% of the principal amount of such 2026 Notes, plus any accrued and unpaid interest to, but excluding, the redemption date.

With certain exceptions, upon a change of control or a fundamental change, the holders of the 2026 Notes may require us to repurchase all or part of the principal amount of the 2026 Notes at a repurchase price equal to 100% of the principal amount of the 2026 Notes, plus any accrued and unpaid interest to, but excluding, the repurchase date. In addition, we will, in certain circumstances, increase the conversion rate for any 2026 Notes converted in connection with a change of control or a fundamental change.

In accordance with accounting guidance on embedded conversion features, we valued and bifurcated the conversion option associated with the 2026 Notes from the respective host debt instrument, which is treated as a debt discount, and initially recorded the conversion option of $230.9 million as a derivative liability in our condensed consolidated balance sheet, with the corresponding amount recorded as a discount to the 2026 Notes to be amortized over the term of the 2026 Notes using the effective interest method.

The 2026 Notes consisted of the following:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Principal amounts:
Principal	$	750,000		$	750,000
Non-cash interest expense converted to principal		27,997			37,722
Unamortized debt discount (conversion feature) (1)		(169,438	)		(160,511	)
Unamortized debt issuance costs (1)		(19,359	)		(18,339	)
Net carrying amount	$	589,200		$	608,872

(1)

Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2026 Notes using the effective interest rate method. The effective interest rate is 7.05%.

As of October 31, 2022, the remaining life of the 2026 Notes was approximately 3.9 years.

The following table sets forth the total interest expense recognized related to the 2026 Notes:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Interest expense related to amortization of debt discount	$	8,320	$	8,927
Interest expense related to amortization of debt issuance costs		951		1,020
Non-cash interest expense		4,773		4,894
Total interest expense	$	14,044	$	14,841

Non-cash interest expense is related to the 2.5% PIK interest that we accrued from the issuance of the 2026 Notes through October 31, 2022 and was recognized within other expense, net in the condensed consolidated statement of operations and other liabilities–non-current in the condensed consolidated balance sheet. The accrued PIK interest will be converted to the principal balance of the 2026 Notes at each payment date and will be convertible to shares at maturity or when converted.

Upon the conversion price of the 2026 Notes becoming fixed in September 2021, the embedded conversion option for the 2026 Notes no longer required bifurcation because the conversion features are now considered indexed to our own equity and meet the equity classification conditions. The carrying amount of the derivative liability of $698.2 million as of that date was reclassified to additional paid-in capital within the condensed consolidated balance sheet. The remaining debt discount that arose from the original bifurcation continues to be amortized over the term of the 2026 Notes.

2027 Notes

In September 2021, we issued $575 million principal amount of 0.25% convertible senior notes due 2027 consisting of (i) approximately $477.3 million principal amount of 2027 Notes in exchange for approximately $416.5 million principal amount of the 2023 Notes (the "Exchange Transactions") and (ii) approximately $97.7 million principal amount of 2027 Notes for cash (the "Subscription Transactions"). We did not receive any cash proceeds from the Exchange Transactions. The net cash proceeds from the Subscription Transactions was approximately $88.4 million after deducting the offering expenses for both the Exchange Transactions and the Subscription Transactions. We used (i) approximately $14.7 million of the net cash proceeds from the Subscription Transactions to repurchase approximately $12.8 million principal amount of the 2023 Notes and (ii) approximately $58.5 million of the net cash proceeds from the Subscription Transactions to repurchase approximately 1.4 million shares of our Class A common stock.

The 2027 Notes bear interest at a rate of 0.25% per annum, and pay interest semi-annually in arrears on each April 1 and October 1, commencing on April 1, 2022. The 2027 Notes will mature on October 1, 2027, unless earlier converted, redeemed or repurchased.

The 2027 Notes are convertible into cash, shares of our Class A common stock, or a combination of cash and shares of Class A common stock, at our election. Each $1,000 of principal of the 2027 Notes is initially convertible into 17.3192 shares of our Class A common stock, which is equivalent to an initial conversion price of approximately $57.74 per share, subject to customary anti-dilution adjustments. Holders of these 2027 Notes may convert their 2027 Notes at their option at any time prior to the close of the business day immediately preceding July 1, 2027, only under the following circumstances:

(1)

during any fiscal quarter after January 31, 2022, and only during such fiscal quarter, if the closing price of our common stock for at least 20 trading days in a period of 30 consecutive trading days ending on, and including, the last trading day of the preceding fiscal quarter is greater than or equal to 130% of the then applicable conversion price for the Notes per share of common stock;

(2)

during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of 2027 Notes for such trading day was less than 98% of the product of the closing price of our common stock and the then applicable conversion rate on each such trading day; or

(3)

upon the occurrence of certain specified corporate events.

Upon conversion of the 2027 Notes, we will pay or deliver, as the case may be, cash, shares of our Class A common stock or a combination of cash and shares of Class A common stock, at our election. We intend to settle the principal of the 2027 Notes in cash.

The conversion rate will be subject to adjustment in some events, but will not be adjusted for any accrued or unpaid interest. A holder who converts their 2027 Notes in connection with certain corporate events that constitute a "make-whole fundamental change" per the indenture governing the 2027 Notes are, under certain circumstances, entitled to an increase in the conversion rate. In addition, if we undergo a fundamental change prior to the maturity date, holders may require us to repurchase for cash all or a portion of their 2027 Notes at a repurchase price equal to 100% of the principal amount of the repurchased 2027 Notes, plus accrued and unpaid interest.

In accounting for the exchange of convertible notes, we evaluated whether the transaction should be treated as a modification or extinguishment transaction. The partial exchange of the 2023 Notes and issuance of the 2027 Notes were deemed to have substantially different terms due to the significant difference between the value of the conversion option immediately prior to and after the exchange, and consequently, the 2023 Notes partial exchange was accounted for as a debt extinguishment. The $64.9 million difference between the total reacquisition price paid and the net carrying amount of the 2023 Notes is recognized as a debt extinguishment loss within other expense, net in the condensed consolidated statement of operations.

The 2027 Notes consisted of the following:


	As of
	July 31, 2022			October 31, 2022
Principal amounts:
Principal	$	575,000		$	575,000
Unamortized debt issuance costs (1)		(7,995	)		(7,613	)
Net carrying amount	$	567,005		$	567,387

(1)

Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52%.

As of October 31, 2022, the remaining life of the 2027 Notes was approximately 4.9 years.

The following table sets forth the total interest expense recognized related to the 2027 Notes:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Contractual interest expense	$	152	$	359
Interest expense related to amortization of debt issuance costs		160		382
Total interest expense	$	312	$	741

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Leases

3 Months Ended

Oct. 31, 2022

Leases [Abstract]

Leases

NOTE 6. LEASES

We have operating leases for offices, research and development facilities and datacenters and finance leases for certain datacenter equipment. Our leases have remaining lease terms of one year to approximately eight years, some of which include options to renew or terminate. We do not include renewal options in the lease terms for calculating our lease liability, as we are not reasonably certain that we will exercise these renewal options at the time of the lease commencement. Our lease agreements do not contain any residual value guarantees or restrictive covenants.

Total operating lease cost was $10.9 million and $10.7 million for the three months ended October 31, 2021 and 2022, respectively, excluding short-term lease costs, variable lease costs and sublease income, each of which were not material. Variable lease costs primarily include common area maintenance charges. Total finance lease cost was $0.5 million and $0.7 million for the three months ended October 31, 2021 and 2022, respectively.

During the first quarter of fiscal 2023, we signed agreements to exit certain office spaces in the United States early. The reduction in the lease term resulted in a decrease to the carrying amount of the operating lease liability and the operating lease right-of-use asset on our condensed consolidated balance sheet as of October 31, 2022. In addition, we recorded $0.9 million of expense in our condensed consolidated statement of operations for the fiscal quarter ended October 31, 2022.

Supplemental balance sheet information related to leases is as follows:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Operating leases:
Operating lease right-of-use assets, gross	$	188,060		$	188,260
Accumulated amortization		(69,320	)		(76,738	)
Operating lease right-of-use assets, net	$	118,740		$	111,522
Operating lease liabilities—current	$	39,801		$	36,296
Operating lease liabilities—non-current		89,782			81,820
Total operating lease liabilities	$	129,583		$	118,116
Weighted average remaining lease term (in years):		5.1			4.9
Weighted average discount rate:		5.7	%		5.7	%


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Finance leases:
Finance lease right-of-use assets, gross (1)	$	13,501		$	13,501
Accumulated amortization (1)		(3,053	)		(3,728	)
Finance lease right-of-use assets, net (1)	$	10,448		$	9,773
Finance lease liabilities—current (2)	$	2,685		$	2,690
Finance lease liabilities—non-current (3)		7,806			7,132
Total finance lease liabilities	$	10,491		$	9,822
Weighted average remaining lease term (in years):		3.9			3.7
Weighted average discount rate:		5.9	%		5.9	%

(1)

Included in the condensed consolidated balance sheets within property and equipment, net.

(2)

Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities.

(3)

Included in the condensed consolidated balance sheets within other liabilities—non-current.

Supplemental cash flow and other information related to leases is as follows:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13,476	$	11,849
Financing cash flows from finance leases	$	219	$	1,856
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	3,950	$	1,346

The undiscounted cash flows for our operating lease liabilities as of October 31, 2022 were as follows:


Fiscal Year Ending July 31:	Operating Leases			Finance Leases			Total
	(in thousands)
2023	$	30,115		$	2,063		$	32,178
2024		29,806			2,750			32,556
2025		17,319			2,750			20,069
2026		13,914			2,048			15,962
2027		12,668			338			13,006
Thereafter		36,344			—			36,344
Total lease payments		140,166			9,949			150,115
Less: imputed interest		(22,050	)		(127	)		(22,177	)
Total lease obligation		118,116			9,822			127,938
Less: current lease obligations		(36,296	)		(2,690	)		(38,986	)
Long-term lease obligations	$	81,820		$	7,132		$	88,952

As of October 31, 2022, we had additional operating lease commitments of approximately $5.8 million on an undiscounted basis for certain office leases that have not yet commenced. These operating leases will commence during the remainder of fiscal 2023, with lease terms of approximately eight years.

Commitments and Contingencies

3 Months Ended

Oct. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 7. COMMITMENTS AND CONTINGENCIES

Purchase Commitments

In the normal course of business, we make commitments with our contract manufacturers to ensure them a minimum level of financial consideration for their investment in our joint solutions. These commitments are based on performance targets or on-hand inventory and non-cancelable purchase orders for non-standard components. We record a charge related to these items when we determine that it is probable a loss will be incurred and we are able to estimate the amount of the loss. Our historical charges have not been material. As of October 31, 2022, we had up to approximately $96.7 million of non-cancelable purchase obligations and other commitments pertaining to our daily business operations, and up to approximately $79.3 million in the form of guarantees to certain of our contract manufacturers.

Legal Proceedings

Securities Class Actions. Beginning on March 29, 2019, several purported securities class actions were filed in the United States District Court for the Northern District of California against us and two of our officers. The initial complaints generally alleged that the defendants made false and misleading statements in violation of Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5. In July 2019, the court consolidated the actions into a single action, and appointed a lead plaintiff, who then filed a consolidated amended complaint (the "Original Complaint"). The action was brought on behalf of those who purchased or otherwise acquired our stock between November 30, 2017 and May 30, 2019, inclusive. The defendants subsequently filed a motion to dismiss the Original Complaint, which the court granted on March 9, 2020, while providing the lead plaintiff leave to amend. On April 17, 2020, the lead plaintiff filed a second amended complaint (the "Amended Complaint"), again naming us and two of our officers as defendants. The Amended Complaint alleges the same class period, includes many of the same factual allegations as the Original Complaint, and again alleges that the defendants violated Sections 10(b) and 20(a) of the Exchange Act, as well as SEC Rule 10b-5. The Amended Complaint sought monetary damages in an unspecified amount. On September 11, 2020, the court denied the defendants' motion to dismiss the Amended Complaint and held that the lead plaintiff adequately stated a claim with respect to certain statements regarding our new customer growth and sales productivity. On January 27, 2021, lead plaintiff, Shimon Hedvat, filed a motion to (i) withdraw as lead plaintiff and (ii) substitute proposed new lead plaintiffs and approve their appointment of a new co-lead counsel. On March 1, 2021, the court granted the lead plaintiff’s motion to withdraw as lead plaintiff but denied without prejudice his motion to substitute proposed new lead plaintiffs. The court also reopened the lead plaintiff selection process, allowing any putative class member interested in serving as the new lead plaintiff to file a lead plaintiff application. Following the lead plaintiff selection hearing on April 28, 2021, on June 10, 2021 the court appointed California Ironworkers Field Pension Trust as lead plaintiff and approved its appointment of counsel. On May 28, 2021, one of the movants for lead plaintiff, John P. Norton on behalf of the Norton Family Living Trust UAD 11/15/2002, filed a separate class action complaint (the "Options Class Action Complaint") in the Northern District of California on behalf of a class of persons or entities who transacted in publicly traded call options and/or put options on Nutanix stock during the period from November 30, 2017 and May 30, 2019, containing allegations substantively the same as those alleged in the Amended Complaint (the "Options Class Action") and naming the same defendants. On September 8, 2021, the court appointed the John P. Norton on behalf of the Norton Family Living Trust UAD 11/15/2002 as the lead plaintiff in the Options Class Action. On April 26, 2022, the parties met for mediation, which did not result in a settlement. On September 1, 2022, California Ironworkers Field Pension Trust filed a third amended complaint (which amends the Amended Complaint, the "Third Amended Complaint") and John P. Norton on behalf of the Norton Family Living Trust UAD 11/15/2002 filed an amended complaint (which amends the Options Class Action Complaint, the "First Amended Complaint"). On November 14, 2022, the defendants filed a motion to dismiss the Third Amended Complaint and the First Amended Complaint. A hearing on the motion to dismiss has been scheduled for February 15, 2023. We plan to continue to vigorously defend against these actions. We recorded an accrual for estimated loss contingencies associated with this matter in an amount equal to a settlement offer we made at the mediation. The accrual does not reflect our views of the merits of claims in these actions. In addition, we recorded a corresponding receivable for the estimated recovery in respect of our settlement offer and certain legal fees and professional expenses payable under our applicable insurance policies. The accrual and estimated recovery may change in the future due to new developments, and the actual liability and recovery may vary significantly from current estimates.

We are not currently a party to any other legal proceedings that we believe to be material to our business or financial condition. From time to time, we may become party to various litigation matters and subject to claims that arise in the ordinary course of business.

Stockholders' Equity

3 Months Ended

Oct. 31, 2022

Equity [Abstract]

Stockholders' Equity

NOTE 8. STOCKHOLDERS’ EQUITY

As of October 31, 2022, we had 1.0 billion shares of Class A common stock authorized, with a par value of $0.000025 per share, and 42.0 million shares of Class B common stock authorized, with a par value of $0.000025 per share. As of October 31, 2022, we had 230.1 million shares of Class A common stock issued and outstanding and no shares of Class B common stock issued and outstanding.

Holders of Class A common stock are entitled to one vote for each share of Class A common stock held on all matters submitted to a vote of stockholders.

In September 2021, we used approximately $58.5 million of the net cash proceeds from the issuance of $97.7 million in aggregate principal amount of 2027 Notes to repurchase 1.4 million shares of Class A common stock in open market transactions at an average price of $42.77 per share. For additional details on these transactions, refer to Note 5.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

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+ Details

Equity Incentive Plans

3 Months Ended

Oct. 31, 2022

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plans

NOTE 9. EQUITY INCENTIVE PLANS

Stock Plans

We have three equity incentive plans, the 2010 Stock Plan ("2010 Plan"), 2011 Stock Plan ("2011 Plan") and 2016 Equity Incentive Plan ("2016 Plan"). Our stockholders approved the 2016 Plan in March 2016 and it became effective in connection with our initial public offering ("IPO"). As a result, at the time of the IPO, we ceased granting additional stock awards under the 2010 Plan and 2011 Plan and both plans were terminated. Any outstanding stock awards under the 2010 Plan and 2011 Plan remain outstanding, subject to the terms of the applicable plan and award agreements, until such shares are issued under those stock awards, by exercise of stock options or settlement of restricted stock units ("RSUs"), or until those stock awards become vested or expired by their terms.

Under the 2016 Plan, we may grant incentive stock options, non-statutory stock options, restricted stock, RSUs and stock appreciation rights to employees, directors and consultants. We initially reserved 22.4 million shares of our Class A common stock for issuance under the 2016 Plan. The number of shares of Class A common stock available for issuance under the 2016 Plan also includes an annual increase on the first day of each fiscal year, beginning in fiscal 2018, equal to the lesser of: 18.0 million shares, 5% of the outstanding shares of all classes of common stock as of the last day of our immediately preceding fiscal year, or such other amount as may be determined by the Board. Accordingly, on August 1, 2021 and 2022, the number of shares of Class A common stock available for issuance under the 2016 Plan increased by 10.7 million and 11.3 million shares, respectively, pursuant to these provisions. As of October 31, 2022, we had reserved a total of 48.2 million shares for the issuance of equity awards under the Stock Plans, of which 13.8 million shares were still available for grant.

Restricted Stock Units

Performance RSUs — We have granted RSUs that have both service and performance conditions to our executives and employees ("Performance RSUs"). Vesting of Performance RSUs is subject to continuous service and the satisfaction of certain performance targets. While we recognize cumulative stock-based compensation expense for the portion of the awards for which both the service condition has been satisfied and it is probable that the performance conditions will be met, the actual vesting and settlement of Performance RSUs are subject to the performance conditions actually being met.

Market Stock Units

In connection with his hiring, in December 2020, the Compensation Committee of our Board of Directors approved the grant of 0.7 million RSUs subject to certain market conditions ("MSUs") to our President and CEO. These MSUs have a weighted average grant date fair value per unit of $35.69 and will vest up to 133% based upon the achievement of certain stock price targets over a performance period of approximately 4.0 years, subject to his continuous service on each vesting date.

In October 2021 and August 2022, the Compensation Committee of our Board of Directors approved the grant of approximately 0.4 million and 1.3 million MSUs, respectively, to certain of our executives. These MSUs have a weighted average grant date fair value per unit of approximately $46.20 and $27.89, respectively, and will vest up to 200% of the target number of MSUs based upon our total shareholder return relative to the total shareholder return of companies in the Nasdaq Composite Index over a performance period of approximately 2.8 years and 2.9 years, respectively, subject to continuous service on each vesting date. Additional MSUs have been granted with similar terms, but were not material.

We used Monte Carlo simulations to calculate the fair value of these awards on the grant date, or modification date, as applicable. A Monte Carlo simulation requires the use of various assumptions, including the stock price volatility and risk-free interest rate as of the valuation date corresponding to the length of time remaining in the performance period and expected dividend yield. We recognize stock-based compensation expense related to these MSUs using the graded vesting attribution method over the respective performance periods. As of October 31, 2022, approximately 2.2 million MSUs remained outstanding.

Below is a summary of RSU activity, including MSUs, under the Stock Plans:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
	(in thousands)
Outstanding at July 31, 2022		22,136		$	29.81
Granted		15,060		$	17.95
Released		(1,903	)	$	33.68
Forfeited		(2,358	)	$	28.89
Outstanding at October 31, 2022		32,935		$	24.24

Stock Options

We did not grant any stock options during the three months ended October 31, 2022. A total of 0.3 million stock options were exercised during the three months ended October 31, 2022, with a weighted average exercise price per share of $7.35. As of October 31, 2022, 1.4 million stock options, with a weighted average exercise price of $6.25 per share, a weighted average remaining contractual life of 1.8 years and an aggregate intrinsic value of $30.0 million, remained outstanding.

Employee Stock Purchase Plan

In December 2015, the Board adopted the 2016 Employee Stock Purchase Plan, which was subsequently amended in January 2016 and September 2016 and approved by our stockholders in March 2016 (the "Original 2016 ESPP"). The Original 2016 ESPP became effective in connection with our IPO. On December 13, 2019, our stockholders approved certain amendments to the Original 2016 ESPP. Under the amended and restated Original 2016 ESPP (the "2016 ESPP"), the maximum number of shares of Class A common stock available for sale is 11.5 million shares, representing an increase of 9.2 million shares.

The 2016 ESPP allows eligible employees to purchase shares of our Class A common stock at a discount through payroll deductions of up to 15% of eligible compensation, subject to caps of $25,000 in any calendar year and 1,000 shares on any purchase date. The 2016 ESPP provides for 12-month offering periods, generally beginning in March and September of each year, and each offering period consists of two six-month purchase periods.

On each purchase date, participating employees will purchase Class A common stock at a price per share equal to 85% of the lesser of the fair market value of our Class A common stock on (i) the first trading day of the applicable offering period or (ii) the last trading day of each purchase period in the applicable offering period. If the stock price of our Class A common stock on any purchase date in an offering period is lower than the stock price on the enrollment date of that offering period, the offering period will immediately reset after the purchase of shares on such purchase date and automatically roll into a new offering period.

During the three months ended October 31, 2022, 1.0 million shares of common stock were purchased under the 2016 ESPP for an aggregate amount of $18.9 million. As of October 31, 2022, 1.4 million shares were available for future issuance under the 2016 ESPP.

We use the Black-Scholes option pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted average assumptions on the date of grant:


	Three Months Ended October 31,
	2021			2022
Expected term (in years)		0.78			0.86
Risk-free interest rate		0.1	%		4.0	%
Volatility		53.6	%		64.3	%
Dividend yield		—	%		—	%

Stock-Based Compensation

Total stock-based compensation expense recognized in the condensed consolidated statements of operations is as follows:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Cost of revenue:
Product	$	1,751	$	2,159
Support, entitlements and other services		8,451		5,346
Sales and marketing		29,132		20,472
Research and development		38,479		38,622
General and administrative		12,734		14,356
Total stock-based compensation expense	$	90,547	$	80,955

As of October 31, 2022, unrecognized stock-based compensation expense related to outstanding stock awards was approximately $735.2 million and is expected to be recognized over a weighted average period of approximately 2.9 years.

Income Taxes

3 Months Ended

Oct. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 10. INCOME TAXES

The income tax provisions of $4.0 million and $5.4 million for the three months ended October 31, 2021 and 2022, respectively, primarily consisted of foreign taxes on our international operations and U.S. state income taxes. We continue to maintain a full valuation allowance for our U.S. Federal and state deferred tax assets and a partial valuation allowance related to our foreign net deferred tax assets.

The Internal Revenue Code Section 174, which requires the mandatory capitalization and amortization of research and development expense, became effective for us for our fiscal 2023. Although Congress has considered legislation that would defer, modify or repeal the capitalization and amortization requirement, there is no assurance that the provision will be deferred, repealed, or otherwise modified. If the requirement is not modified, we may be required to utilize some of our federal and state tax attributes and there may be increases to state cash taxes.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Restructuring Charges

3 Months Ended

Oct. 31, 2022

Restructuring Charges [Abstract]

Restructuring Charges

NOTE 11. RESTRUCTURING CHARGES

In August 2022, we announced a plan to reduce our global headcount by approximately 270 employees, which represents approximately 4% of our total employees, following a review of our business structure and after taking other cost-cutting measures to reduce expenses. The headcount reduction is part of our ongoing efforts to drive towards profitable growth.

As of October 31, 2022, we recognized total restructuring charges of approximately $17.0 million, which consisted primarily of one-time severance and other termination benefit costs directly related to this reduction in force. Of the $17.0 million recognized, $0.5 million is included within support, entitlements and other services cost of revenue, $14.1 million is included within sales and marketing expense, $2.2 million is included within research and development expense, and $0.2 million is included within general and administrative expense on our consolidated statements of operations.

During the fiscal quarter ended October 31, 2022, we recognized restructuring charges of $5.8 million and made cash payments of $11.2 million. As of October 31, 2022, we had a remaining restructuring liability of $5.8 million, included within accrued compensation and benefits in our condensed consolidated balance sheet. We do not expect to record any material future charges related to this reduction in force.

Net Loss Per Share

3 Months Ended

Oct. 31, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

NOTE 12. NET LOSS PER SHARE

Basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by giving effect to potentially dilutive common stock equivalents outstanding during the period, as their effect would be dilutive. Potentially dilutive common shares include participating securities and shares issuable upon the exercise of stock options, the exercise of common stock warrants, the exercise of convertible preferred stock warrants, the vesting of RSUs and each purchase under the 2016 ESPP, under the if-converted method.

In loss periods, basic net loss per share and diluted net loss per share are the same, as the effect of potential common shares is antidilutive and therefore excluded.

Effective January 3, 2022, all of our then outstanding shares of Class B common stock, par value $0.000025 per share, were automatically converted into the same number of shares of the Company’s Class A common stock, par value $0.000025 per share, pursuant to the terms of our Amended and Restated Certificate of Incorporation. Prior to this conversion, the rights, including the liquidation and dividend rights, of the holders of our Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, our undistributed earnings or losses were allocated on a proportionate basis among the holders of both Class A and Class B common stock. As a result, the net income (loss) per share attributed to common stockholders was the same for both Class A and Class B common stock on an individual or combined basis.

The computation of basic and diluted net loss per share attributable to common stockholders is as follows:


	Three Months Ended October 31,
	2021			2022
	(in thousands, except per share data)
Numerator:
Net loss	$	(419,852	)	$	(99,116	)
Denominator:
Weighted average shares—basic and diluted		215,499			228,544
Net loss per share attributable to common stockholders— basic and diluted	$	(1.95	)	$	(0.43	)

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Outstanding stock options and RSUs		29,602		34,355
Employee stock purchase plan		1,836		2,902
Common stock issuable upon the conversion of the Notes		39,968		39,968
Total		71,406		77,225

Shares that will be issued in connection with our stock awards and shares that will be purchased under the employee stock purchase plan are generally automatically converted into shares of our Class A common stock. Common stock issuable upon the conversion of convertible debt represents the antidilutive impact of the 2023 Notes, 2026 Notes and 2027 Notes under the if-converted method.

Segment Information

3 Months Ended

Oct. 31, 2022

Segment Reporting [Abstract]

Segment Information

NOTE 13. SEGMENT INFORMATION

Our chief operating decision maker is a group which is comprised of our Chief Executive Officer and Chief Financial Officer. This group reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, we have a single reportable segment.

The following table sets forth revenue by geographic location based on bill-to location:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
U.S.	$	217,150	$	255,730
Europe, the Middle East and Africa		83,995		100,253
Asia Pacific		65,683		69,103
Other Americas		11,689		8,523
Total revenue	$	378,517	$	433,609

The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
United States	$	74,472	$	73,612
International		38,968		37,749
Total long-lived assets	$	113,440	$	111,361

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Overview and Basis of Presentation (Policies)

3 Months Ended

Oct. 31, 2022

Accounting Policies [Abstract]

Principles of Consolidation and Significant Accounting Policies

Use of Estimates

Concentration Risk

Concentration of Risk

For each significant Partner, revenue as a percentage of total revenue and accounts receivable as a percentage of total accounts receivable, net are as follows:


	Revenue						Accounts Receivable as of
	Three Months Ended October 31,						July 31, 2022			October 31, 2022
Partners	2021			2022
Partner A		31	%		32	%		26	%		34	%
Partner B		14	%		13	%	(1)				19	%
Partner C		14	%		17	%		11	%		14	%
Partner D	(1)			(1)			(1)				11	%

(1)

Less than 10%

Overview and Basis of Presentation (Tables)

3 Months Ended

Oct. 31, 2022

Accounting Policies [Abstract]

Schedules of Concentration of Revenue and Accounts Receivable

For each significant Partner, revenue as a percentage of total revenue and accounts receivable as a percentage of total accounts receivable, net are as follows:


	Revenue						Accounts Receivable as of
	Three Months Ended October 31,						July 31, 2022			October 31, 2022
Partners	2021			2022
Partner A		31	%		32	%		26	%		34	%
Partner B		14	%		13	%	(1)				19	%
Partner C		14	%		17	%		11	%		14	%
Partner D	(1)			(1)			(1)				11	%

(1)

Less than 10%

Revenue, Deferred Revenue and Deferred Commissions (Tables)

3 Months Ended

Oct. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Revenue by Arrangement, Disclosure

The following table depicts the disaggregation of revenue by revenue type, consistent with how we evaluate our financial performance:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Subscription	$	337,901	$	402,924
Non-portable software		14,337		7,783
Hardware		2,163		624
Professional services		24,116		22,278
Total revenue	$	378,517	$	433,609

Deferred Revenue, by Arrangement, Disclosure

Significant changes in the balance of deferred revenue (contract liability) and deferred commissions (contract asset) for the periods presented are as follows:


	Deferred Revenue			Deferred Commissions
	(in thousands)
Balance as of July 31, 2022	$	1,445,538		$	367,590
Additions (1)		469,647			33,112
Revenue/commissions recognized		(433,609	)		(48,325	)
Balance as of October 31, 2022	$	1,481,576		$	352,377

(1)

Includes both billed and unbilled amounts.

Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured on Recurring Basis

The fair value of our financial assets measured on a recurring basis is as follows:


	As of July 31, 2022
	Level I		Level II		Level III		Total
	(in thousands)
Financial Assets:
Cash equivalents:
Money market funds	$	227,796	$	—	$	—	$	227,796
Commercial paper		—		27,927		—		27,927
Short-term investments:
Corporate bonds		—		409,024		—		409,024
Commercial paper		—		317,738		—		317,738
U.S. Government securities		—		194,667		—		194,667
Total measured at fair value	$	227,796	$	949,356	$	—	$	1,177,152
Cash								147,127
Total cash, cash equivalents and short-term investments							$	1,324,279


	As of October 31, 2022
	Level I		Level II		Level III		Total
	(in thousands)
Financial Assets:
Cash equivalents:
Money market funds	$	206,271	$	—	$	—	$	206,271
U.S. Government securities		—		15,439		—		15,439
Commercial paper		—		102,753		—		102,753
Corporate bonds		—		7,988		—		7,988
Short-term investments:
Corporate bonds		—		442,753		—		442,753
Commercial paper		—		270,678		—		270,678
U.S. Government securities		—		194,010		—		194,010
Total measured at fair value	$	206,271	$	1,033,621	$	—	$	1,239,892
Cash								148,166
Total cash, cash equivalents and short-term investments							$	1,388,058

The carrying values and estimated fair values of financial instruments not recorded at fair value are as follows:


	As of July 31, 2022				As of October 31, 2022
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(in thousands)
2023 Notes	$	145,456	$	143,154	$	145,605	$	143,622
2026 Notes		589,200		759,086		608,872		958,746
2027 Notes		567,005		400,252		567,387		495,938
Total	$	1,301,661	$	1,302,492	$	1,321,864	$	1,598,306

Balance Sheet Components (Tables)

3 Months Ended

Oct. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Investments in Marketable Debt Securities, by Contractual Maturity Date

The following table summarizes the estimated fair value of our investments in marketable debt securities by their contractual maturity dates:


	As of October 31, 2022
	(in thousands)
Due within one year	$	747,032
Due in one to two years		160,409
Total	$	907,441

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consists of the following:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
Prepaid operating expenses	$	48,842	$	51,080
VAT receivables		7,514		6,362
Other current assets		37,431		33,086
Total prepaid expenses and other current assets	$	93,787	$	90,528

Schedule of Property and Equipment, Net

Property and equipment, net consists of the following:


		As of
	Estimated Useful Life	July 31, 2022			October 31, 2022
	(in months)	(in thousands)
Computer, production, engineering and other equipment	36	$	341,536		$	353,432
Demonstration units	12		61,914			61,945
Leasehold improvements	(1)		61,443			61,937
Furniture and fixtures	60		16,508			16,433
Total property and equipment, gross			481,401			493,747
Less: accumulated depreciation			(367,961	)		(382,386	)
Total property and equipment, net		$	113,440		$	111,361

(1)

Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

Schedule of Finite-Lived Intangible Assets

There was no change in the carrying value of goodwill during the three months ended October 31, 2022.

Intangible assets, net consists of the following:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Developed technology	$	79,300		$	79,300
Customer relationships		8,860			8,860
Trade name		4,170			4,170
Total intangible assets, gross		92,330			92,330
Less:
Accumulated amortization of developed technology		(64,344	)		(67,154	)
Accumulated amortization of customer relationships		(8,074	)		(8,336	)
Accumulated amortization of trade name		(4,083	)		(4,170	)
Total accumulated amortization		(76,501	)		(79,660	)
Total intangible assets, net	$	15,829		$	12,670

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization expense of our intangible assets is as follows:


Fiscal Year Ending July 31:	Amount
	(in thousands)
2023	$	7,697
2024		3,210
2025		1,763
Total	$	12,670

Schedule of Accrued Liabilities

Accrued Compensation and Benefits

Accrued compensation and benefits consists of the following:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
Accrued wages and taxes	$	20,807	$	26,664
Accrued vacation		23,140		21,632
Payroll taxes payable		21,060		20,828
Accrued commissions		32,886		14,743
Accrued benefits		11,774		12,441
Contributions to ESPP withheld		19,174		9,227
Accrued bonus		9,782		5,944
Other		11,188		8,512
Total accrued compensation and benefits	$	149,811	$	119,991

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consists of the following:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
Income taxes payable	$	13,206	$	10,059
Accrued professional services		5,499		5,465
Other		30,527		30,627
Total accrued expenses and other current liabilities	$	49,232	$	46,151

Convertible Senior Notes (Tables)

3 Months Ended

Oct. 31, 2022

Debt Instrument [Line Items]

Net Proceeds from Notes

The total net proceeds from the issuance of the 2023 Notes were as follows:


	Amount
	(in thousands)
Principal amount	$	575,000
Less: initial purchasers' discount		(10,781	)
Less: cost of the bond hedges		(143,175	)
Add: proceeds from the sale of warrants		87,975
Less: other issuance costs		(707	)
Net proceeds	$	508,312

2023 Convertible Senior Notes

Debt Instrument [Line Items]

Components of Notes

The 2023 Notes consisted of the following:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Principal amounts:
Principal	$	145,704		$	145,704
Unamortized debt issuance costs (1)		(248	)		(99	)
Net carrying amount	$	145,456		$	145,605

(1)

Interest Expense Recognized

The following table sets forth the total interest expense recognized related to the 2023 Notes:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Interest expense related to amortization of debt issuance costs	$	400	$	149

2026 Convertible Senior Notes

Debt Instrument [Line Items]

Components of Notes

The 2026 Notes consisted of the following:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Principal amounts:
Principal	$	750,000		$	750,000
Non-cash interest expense converted to principal		27,997			37,722
Unamortized debt discount (conversion feature) (1)		(169,438	)		(160,511	)
Unamortized debt issuance costs (1)		(19,359	)		(18,339	)
Net carrying amount	$	589,200		$	608,872

(1)

Interest Expense Recognized

The following table sets forth the total interest expense recognized related to the 2026 Notes:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Interest expense related to amortization of debt discount	$	8,320	$	8,927
Interest expense related to amortization of debt issuance costs		951		1,020
Non-cash interest expense		4,773		4,894
Total interest expense	$	14,044	$	14,841

2027 Convertible Senior Notes

Debt Instrument [Line Items]

Components of Notes

The 2027 Notes consisted of the following:


	As of
	July 31, 2022			October 31, 2022
Principal amounts:
Principal	$	575,000		$	575,000
Unamortized debt issuance costs (1)		(7,995	)		(7,613	)
Net carrying amount	$	567,005		$	567,387

(1)

Interest Expense Recognized

The following table sets forth the total interest expense recognized related to the 2027 Notes:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Contractual interest expense	$	152	$	359
Interest expense related to amortization of debt issuance costs		160		382
Total interest expense	$	312	$	741

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Leases (Tables)

3 Months Ended

Oct. 31, 2022

Leases [Abstract]

Assets and Liabilities, Lessee

Supplemental balance sheet information related to leases is as follows:


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Operating leases:
Operating lease right-of-use assets, gross	$	188,060		$	188,260
Accumulated amortization		(69,320	)		(76,738	)
Operating lease right-of-use assets, net	$	118,740		$	111,522
Operating lease liabilities—current	$	39,801		$	36,296
Operating lease liabilities—non-current		89,782			81,820
Total operating lease liabilities	$	129,583		$	118,116
Weighted average remaining lease term (in years):		5.1			4.9
Weighted average discount rate:		5.7	%		5.7	%


	As of
	July 31, 2022			October 31, 2022
	(in thousands)
Finance leases:
Finance lease right-of-use assets, gross (1)	$	13,501		$	13,501
Accumulated amortization (1)		(3,053	)		(3,728	)
Finance lease right-of-use assets, net (1)	$	10,448		$	9,773
Finance lease liabilities—current (2)	$	2,685		$	2,690
Finance lease liabilities—non-current (3)		7,806			7,132
Total finance lease liabilities	$	10,491		$	9,822
Weighted average remaining lease term (in years):		3.9			3.7
Weighted average discount rate:		5.9	%		5.9	%

(1)

Included in the condensed consolidated balance sheets within property and equipment, net.

(2)

Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities.

(3)

Included in the condensed consolidated balance sheets within other liabilities—non-current.

Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to leases is as follows:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13,476	$	11,849
Financing cash flows from finance leases	$	219	$	1,856
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	3,950	$	1,346

Lessee Operating and Finance Lease, Liability, Maturity

The undiscounted cash flows for our operating lease liabilities as of October 31, 2022 were as follows:


Fiscal Year Ending July 31:	Operating Leases			Finance Leases			Total
	(in thousands)
2023	$	30,115		$	2,063		$	32,178
2024		29,806			2,750			32,556
2025		17,319			2,750			20,069
2026		13,914			2,048			15,962
2027		12,668			338			13,006
Thereafter		36,344			—			36,344
Total lease payments		140,166			9,949			150,115
Less: imputed interest		(22,050	)		(127	)		(22,177	)
Total lease obligation		118,116			9,822			127,938
Less: current lease obligations		(36,296	)		(2,690	)		(38,986	)
Long-term lease obligations	$	81,820		$	7,132		$	88,952

Equity Incentive Plans (Tables)

3 Months Ended

Oct. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of RSUs Activity

Below is a summary of RSU activity, including MSUs, under the Stock Plans:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
	(in thousands)
Outstanding at July 31, 2022		22,136		$	29.81
Granted		15,060		$	17.95
Released		(1,903	)	$	33.68
Forfeited		(2,358	)	$	28.89
Outstanding at October 31, 2022		32,935		$	24.24

Schedule of ESPP Valuation Assumptions

We use the Black-Scholes option pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted average assumptions on the date of grant:


	Three Months Ended October 31,
	2021			2022
Expected term (in years)		0.78			0.86
Risk-free interest rate		0.1	%		4.0	%
Volatility		53.6	%		64.3	%
Dividend yield		—	%		—	%

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total stock-based compensation expense recognized in the condensed consolidated statements of operations is as follows:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Cost of revenue:
Product	$	1,751	$	2,159
Support, entitlements and other services		8,451		5,346
Sales and marketing		29,132		20,472
Research and development		38,479		38,622
General and administrative		12,734		14,356
Total stock-based compensation expense	$	90,547	$	80,955

Net Loss Per Share (Tables)

3 Months Ended

Oct. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The computation of basic and diluted net loss per share attributable to common stockholders is as follows:


	Three Months Ended October 31,
	2021			2022
	(in thousands, except per share data)
Numerator:
Net loss	$	(419,852	)	$	(99,116	)
Denominator:
Weighted average shares—basic and diluted		215,499			228,544
Net loss per share attributable to common stockholders— basic and diluted	$	(1.95	)	$	(0.43	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Three Months Ended October 31,
	2021		2022
	(in thousands)
Outstanding stock options and RSUs		29,602		34,355
Employee stock purchase plan		1,836		2,902
Common stock issuable upon the conversion of the Notes		39,968		39,968
Total		71,406		77,225

Segment Information (Tables)

3 Months Ended

Oct. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenue by Geographic Area

The following table sets forth revenue by geographic location based on bill-to location:


	Three Months Ended October 31,
	2021		2022
	(in thousands)
U.S.	$	217,150	$	255,730
Europe, the Middle East and Africa		83,995		100,253
Asia Pacific		65,683		69,103
Other Americas		11,689		8,523
Total revenue	$	378,517	$	433,609

Schedule of Long-lived Assets by Geographical Location

The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location:


	As of
	July 31, 2022		October 31, 2022
	(in thousands)
United States	$	74,472	$	73,612
International		38,968		37,749
Total long-lived assets	$	113,440	$	111,361

Overview and Basis of Presentation - Schedules of Concentration of Revenue and Accounts Receivable (Details) - Partner Concentration Risk	3 Months Ended		12 Months Ended
	Oct. 31, 2022	Oct. 31, 2021	Jul. 31, 2022
Partner A \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	32.00%	31.00%
Partner A \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	34.00%		26.00%
Partner B \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	14.00%
Partner B \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	19.00%
Partner C \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	17.00%	14.00%
Partner C \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	14.00%		11.00%
Partner D \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	11.00%

Overview and Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021	Jul. 31, 2022	Aug. 01, 2021	Sep. 30, 2020	Sep. 24, 2020	Jan. 31, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, immaterial effect				false
Accumulated deficit	$ (4,467,142)		$ (4,368,026)
Partner [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration risk percentage	10.00%	10.00%
2026 Convertible Senior Notes \| Convertible Debt [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Principal value					$ 750,000
Interest rate, stated percentage	2.50%					2.50%
2023 Convertible Senior Notes \| Convertible Debt [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Principal value							$ 575,000
Interest rate, stated percentage							0.00%
ASU 2020-06
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted				false
Change in accounting principle, accounting standards update, immaterial effect				false
Accounting Standards Update 2021-04 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted				false

Revenue, Deferred Revenue and Deferred Commissions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 433,609	$ 378,517
Amount deferred in prior period	210,900	183,300
Contracted revenue not recognized	$ 1,600,000
Percent expected to be recognized in next year	55.00%
Ratable
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 213,400	183,100
Upfront
Deferred Revenue Arrangement [Line Items]
Total revenue	$ 189,500	$ 154,800
Minimum
Deferred Revenue Arrangement [Line Items]
Software, license term	1 year
Maximum
Deferred Revenue Arrangement [Line Items]
Software, license term	5 years

Revenue, Deferred Revenue and Deferred Commissions - Revenue by Arrangement, Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 433,609	$ 378,517
Subscription
Condensed Income Statements, Captions [Line Items]
Total revenue	402,924	337,901
Non-portable software
Condensed Income Statements, Captions [Line Items]
Total revenue	7,783	14,337
Hardware
Condensed Income Statements, Captions [Line Items]
Total revenue	624	2,163
Professional services
Condensed Income Statements, Captions [Line Items]
Total revenue	$ 22,278	$ 24,116

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue, Deferred Revenue and Deferred Commissions - Deferred Revenue, by Arrangement, Disclosure (Details)
$ in Thousands

3 Months Ended

Oct. 31, 2022

USD ($)

Movement in Deferred Commissions [Roll Forward]

Deferred commissions, beginning balance

$ 367,590

Additions

33,112

^[1]

Revenue/commissions recognized

(48,325)

Deferred commissions, ending balance

352,377

Deferred revenue, beginning balance

1,445,538

Additions

469,647

^[1]

Revenue/commissions recognized

(433,609)

Deferred revenue, ending balance

$ 1,481,576

[1]	Includes both billed and unbilled amounts.

Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Financial Assets:
Short-term investments:	$ 907,441	$ 921,429
Recurring
Financial Assets:
Total measured at fair value	1,239,892	1,177,152
Cash	148,166	147,127
Total cash, cash equivalents and short-term investments	1,388,058	1,324,279
Recurring \| Corporate bonds
Financial Assets:
Cash equivalents:	7,988
Short-term investments:	442,753	409,024
Recurring \| Money market funds
Financial Assets:
Cash equivalents:	206,271	227,796
Recurring \| Commercial paper
Financial Assets:
Cash equivalents:	102,753	27,927
Short-term investments:	270,678	317,738
Recurring \| U.S. government securities
Financial Assets:
Cash equivalents:	15,439
Short-term investments:	194,010	194,667
Recurring \| Level I
Financial Assets:
Total measured at fair value	206,271	227,796
Recurring \| Level I \| Corporate bonds
Financial Assets:
Cash equivalents:	0
Short-term investments:	0	0
Recurring \| Level I \| Money market funds
Financial Assets:
Cash equivalents:	206,271	227,796
Recurring \| Level I \| Commercial paper
Financial Assets:
Cash equivalents:	0	0
Short-term investments:	0	0
Recurring \| Level I \| U.S. government securities
Financial Assets:
Cash equivalents:	0
Short-term investments:	0	0
Recurring \| Level II
Financial Assets:
Total measured at fair value	1,033,621	949,356
Recurring \| Level II \| Corporate bonds
Financial Assets:
Cash equivalents:	7,988
Short-term investments:	442,753	409,024
Recurring \| Level II \| Money market funds
Financial Assets:
Cash equivalents:	0	0
Recurring \| Level II \| Commercial paper
Financial Assets:
Cash equivalents:	102,753	27,927
Short-term investments:	270,678	317,738
Recurring \| Level II \| U.S. government securities
Financial Assets:
Cash equivalents:	15,439
Short-term investments:	194,010	194,667
Recurring \| Level III
Financial Assets:
Total measured at fair value	0	0
Recurring \| Level III \| Corporate bonds
Financial Assets:
Cash equivalents:	0
Short-term investments:	0	0
Recurring \| Level III \| Money market funds
Financial Assets:
Cash equivalents:	0	0
Recurring \| Level III \| Commercial paper
Financial Assets:
Cash equivalents:	0	0
Short-term investments:	0	0
Recurring \| Level III \| U.S. government securities
Financial Assets:
Cash equivalents:	0
Short-term investments:	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Oct. 31, 2022

Jul. 31, 2022

Sep. 30, 2021

Sep. 15, 2021

Sep. 24, 2020

Jan. 31, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Derivative Liability, Subject to Master Netting Arrangement, before Offset

$ 698,200

2023 Convertible Senior Notes | Convertible Debt

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate, stated percentage

0.00%

Unamortized debt issuance cost

^[1]

$ 99

$ 248

Closing trading price

$ 100

2026 Convertible Senior Notes | Convertible Debt

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate, stated percentage

2.50%

Non Cash Interest Expense Converted To Principal

$ 37,722

27,997

Unamortized discount

^[2]

160,511

169,438

Unamortized debt issuance cost

^[2]

$ 18,339

19,359

2027 Convertible Senior Notes

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate, stated percentage

0.25%

2027 Convertible Senior Notes | Convertible Debt

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest rate, stated percentage

0.25%

Unamortized debt issuance cost

^[3]

$ 7,613

$ 7,995

Closing trading price

$ 100

[1]	Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2023 Notes using the effective interest rate method. The effective interest rate is 0.41%.
[2]	Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2026 Notes using the effective interest rate method. The effective interest rate is 7.05%.
[3]	Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52%.

Fair Value Measurements - Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - Convertible Debt - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	$ 1,321,864	$ 1,301,661
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	1,598,306	1,302,492
2023 Convertible Senior Notes \| Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	145,605	145,456
2023 Convertible Senior Notes \| Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	143,622	143,154
2026 Convertible Senior Notes \| Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	608,872	589,200
2026 Convertible Senior Notes \| Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	958,746	759,086
2027 Convertible Senior Notes \| Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	567,387	567,005
2027 Convertible Senior Notes \| Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior note, fair value disclosure	$ 495,938	$ 400,252

Fair Value Measurements - Schedule of Changes in Derivative Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Fair Value Disclosures [Abstract]
Change in fair value	$ 0	$ 198,038

Balance Sheet Components - Schedule of Investments in Marketable Debt Securities, by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]
Due within one year	$ 747,032
Due in one to two years	160,409
Total	$ 907,441	$ 921,429

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid operating expenses	$ 51,080	$ 48,842
VAT receivables	6,362	7,514
Other current assets	33,086	37,431
Total prepaid expenses and other current assets	$ 90,528	$ 93,787

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands

3 Months Ended

Oct. 31, 2022

Jul. 31, 2022

Property, Plant and Equipment [Line Items]

Total property and equipment, gross

$ 493,747

$ 481,401

Less: accumulated depreciation

(382,386)

(367,961)

Total property and equipment, net

$ 111,361

113,440

Computer, production, engineering and other equipment

Property, Plant and Equipment [Line Items]

Estimated Useful Life

36 months

Total property and equipment, gross

$ 353,432

341,536

Demonstration units

Property, Plant and Equipment [Line Items]

Estimated Useful Life

12 months

Total property and equipment, gross

$ 61,945

61,914

Leasehold improvements

Property, Plant and Equipment [Line Items]

Total property and equipment, gross

^[1]

$ 61,937

61,443

Furniture and fixtures

Property, Plant and Equipment [Line Items]

Estimated Useful Life

60 months

Total property and equipment, gross

$ 16,433

$ 16,508

[1]	Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 16.0	$ 18.7

Balance Sheet Components - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 92,330	$ 92,330
Less:
Accumulated amortization	(79,660)	(76,501)
Total intangible assets, net	12,670	15,829
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	79,300	79,300
Less:
Accumulated amortization	(67,154)	(64,344)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	8,860	8,860
Less:
Accumulated amortization	(8,336)	(8,074)
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	4,170	4,170
Less:
Accumulated amortization	$ (4,170)	$ (4,083)

Balance Sheet Components - Schedule of Finite-lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Oct. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 7,697
2024	3,210
2025	1,763
Total	$ 12,670

Balance Sheet Components - Schedule of Accrued Compensation Benefits (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Employee-related Liabilities, Current [Abstract]
Accrued commissions	$ 14,743	$ 32,886
Accrued vacation	21,632	23,140
Payroll taxes payable	20,828	21,060
Accrued Wages and Taxes	26,664	20,807
Contributions to ESPP withheld	9,227	19,174
Accrued benefits	12,441	11,774
Accrued bonus	5,944	9,782
Other	8,512	11,188
Total accrued compensation and benefits	$ 119,991	$ 149,811

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Other Liabilities Disclosure [Abstract]
Income taxes payable	$ 10,059	$ 13,206
Accrued professional services	5,465	5,499
Other	30,627	30,527
Total accrued expenses and other current liabilities	$ 46,151	$ 49,232

Convertible Senior Notes - Additional Information (Details)			1 Months Ended		3 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 24, 2020 USD ($) d $ / shares	Sep. 30, 2021 USD ($) d $ / shares shares	Jan. 31, 2018 USD ($) d $ / shares	Oct. 31, 2022 USD ($) d $ / shares shares	Oct. 31, 2021 USD ($)	Jul. 31, 2022 USD ($)	Sep. 22, 2021 USD ($)
Debt Instrument [Line Items]
Payments for unwinding of warrants					$ 0	$ (18,390,000)
Proceeds from unwinding of convertible note hedges					0	39,880,000
Loss on debt extinguishment					0	(64,910,000)
Proceeds from issuance of warrants			$ 10,000
Proceeds from the issuance of convertible notes, net of issuance costs					$ 0	$ 89,128,000
2023 Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount				$ 1,000,000
Loss on debt extinguishment			$ 64,900,000
Number of securities called by warrants or rights (in shares) \| shares			11,800,000
Payments for convertible note hedges			$ 143,200,000
Exercise price of warrants (in dollars per share) \| $ / shares				$ 73.46	$ 73.46
Proceeds from issuance of warrants			88,000,000.0
Transaction cost			$ 55,200,000
Dilutive effect of $10 increase in share price (in shares) \| shares					400,000
Dilutive effect of warrants (in shares) \| shares					2,100,000
Share price threshold for dilutive effect of warrants (in dollars per share) \| $ / shares					$ 83.46
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			0.25%
Principal amount			$ 1,000,000
Convertible Debt \| 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage				0.00%
Face amount				$ 575,000,000.0
Principal amount				575,000,000	$ 145,704,000		$ 145,704,000
Debt outstanding								$ 145,700,000
Convertible debt			416,500,000	$ 75,000,000.0
Repurchase amount			12,800,000
Proceeds from unwind transactions			21,500,000
Payments for unwinding of warrants			(18,400,000)
Proceeds from unwinding of convertible note hedges			$ 39,900,000
Conversion ratio				2,047.0500
Conversion price (in dollars per share) \| $ / shares				$ 48.85
Threshold trading days \| d				20	20
Threshold consecutive trading days \| d				30	30
Threshold percentage of stock price trigger				130.00%	130.00%
Redemption price, percentage				100.00%
Debt instrument, term					2 months
Payments for convertible note hedges				$ 143,175,000
Proceeds from issuance of warrants				87,975,000
Convertible Debt \| 2023 Convertible Senior Notes \| Common Class A
Debt Instrument [Line Items]
Principal amount				$ 1,000,000
Threshold percentage of stock price trigger				98.00%
Share price (in dollars per share) \| $ / shares					$ 27.40
Convertible Debt \| 2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage		2.50%			2.50%
Face amount	$ 750,000,000.0
Principal amount					$ 750,000,000		750,000,000
Conversion ratio		0.036036
Conversion price (in dollars per share) \| $ / shares		$ 27.75	$ 27.75
Threshold trading days \| d		20
Threshold consecutive trading days \| d		30
Threshold percentage of stock price trigger		150.00%
Redemption price, percentage		100.00%
Debt instrument, term					3 years 10 months 24 days
Proceeds from the issuance of convertible notes, net of issuance costs	723,700,000
Payments of debt issuance costs	$ 26,300,000
Debt instrument, principal amount for conversion into common stock		$ 1,000
Derivative liability		$ 230,900,000	$ 698,200,000
Convertible Debt \| 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			0.25%		0.25%
Face amount			$ 575,000,000
Principal amount					$ 575,000,000		$ 575,000,000
Convertible debt			477,300,000
Debt instrument for cash, net			88,400,000
Notes for cash			97,700,000
Repurchase amount			$ 14,700,000
Conversion ratio			17.3192
Conversion price (in dollars per share) \| $ / shares			$ 57.74
Threshold trading days \| d			20
Threshold consecutive trading days \| d			30
Redemption price, percentage			100.00%
Debt instrument, term					4 years 10 months 24 days
Debt instrument, principal amount for conversion into common stock			$ 1,000
Convertible Debt \| 2027 Convertible Senior Notes \| Minimum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger			130.00%
Convertible Debt \| 2027 Convertible Senior Notes \| Common Class A
Debt Instrument [Line Items]
Repurchase amount			$ 58,500,000
Number of share repurchase \| shares			1,400,000
Convertible Debt \| 2027 Convertible Senior Notes \| Common Class A \| Maximum
Debt Instrument [Line Items]
Threshold percentage of stock price trigger			98.00%
Convertible Debt \| Exchange Transactions \| 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Face amount								416,500,000
Convertible Debt \| Exchange Transactions \| 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Face amount								477,300,000
Convertible Debt \| Cash Transaction \| 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Repurchase amount								$ 12,800,000

Convertible Senior Notes - Net Proceeds from Notes (Details) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2021	Jan. 31, 2018	Oct. 31, 2022	Jul. 31, 2022
Debt Instrument [Line Items]
Add: proceeds from the sale of warrants	$ 10
2023 Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount		$ 1,000
Less: cost of the bond hedges	(143,200)
Add: proceeds from the sale of warrants	$ 88,000
Convertible Debt \| 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount		575,000	$ 145,704	$ 145,704
Less: initial purchasers' discount		(10,781)
Less: cost of the bond hedges		(143,175)
Add: proceeds from the sale of warrants		87,975
Less: other issuance costs		(707)
Net proceeds		$ 508,312

Convertible Senior Notes - Components of Debt (Details) - USD ($)
$ in Thousands

Oct. 31, 2022

Jul. 31, 2022

Sep. 30, 2021

Jan. 31, 2018

2023 Convertible Senior Notes

Debt Instrument [Line Items]

Principal amount

$ 1,000

2027 Convertible Senior Notes

Debt Instrument [Line Items]

Principal amount

$ 1,000

Convertible Debt | 2023 Convertible Senior Notes

Debt Instrument [Line Items]

Principal amount

$ 145,704

$ 575,000

Unamortized debt issuance costs

^[1]

(99)

(248)

Net carrying amount

145,605

145,456

Convertible Debt | 2026 Convertible Senior Notes

Debt Instrument [Line Items]

Principal amount

750,000

Non-cash interest expense converted to principal

37,722

27,997

Unamortized debt discount

^[2]

(160,511)

(169,438)

Unamortized debt issuance costs

^[2]

(18,339)

(19,359)

Net carrying amount

608,872

589,200

Convertible Debt | 2027 Convertible Senior Notes

Debt Instrument [Line Items]

Principal amount

575,000

Unamortized debt issuance costs

^[3]

(7,613)

(7,995)

Net carrying amount

$ 567,387

$ 567,005

[1]	Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2023 Notes using the effective interest rate method. The effective interest rate is 0.41%.
[2]	Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2026 Notes using the effective interest rate method. The effective interest rate is 7.05%.
[3]	Included in the condensed consolidated balance sheets within convertible senior notes, net and amortized over the remaining life of the 2027 Notes using the effective interest rate method. The effective interest rate is 0.52%.

Convertible Senior Notes - Components of Notes (Parenthetical) (Details) - Convertible Debt	Oct. 31, 2022
2023 Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate	0.41%
2026 Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate	7.05%
2027 Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate	0.52%

Convertible Senior Notes - Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Debt Instrument [Line Items]
Non-cash interest expense	$ 4,894	$ 4,773
Convertible Debt \| 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Interest expense related to amortization of debt issuance costs	149	400
Convertible Debt \| 2026 Convertible Senior Notes
Debt Instrument [Line Items]
Interest expense related to amortization of debt discount	8,927	8,320
Interest expense related to amortization of debt issuance costs	1,020	951
Non-cash interest expense	4,894	4,773
Total interest expense	14,841	14,044
Convertible Debt \| 2027 Convertible Senior Notes
Debt Instrument [Line Items]
Contractual interest expense	359	152
Interest expense related to amortization of debt issuance costs	382	160
Total interest expense	$ 741	$ 312

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 10,700	$ 10,900
Finance lease, cost	700	500
Operating lease expenses	900
Impairment loss	(304)	$ 0
Lease not yet commenced, undiscounted amount	$ 5,800
Lease not yet commenced, term of contract	8 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	8 years

Leases - Supplemental Balance Sheet (Details) - USD ($)
$ in Thousands

Oct. 31, 2022

Jul. 31, 2022

Operating leases

Operating lease right-of-use assets, gross

$ 188,260

$ 188,060

Accumulated amortization

(76,738)

(69,320)

Operating lease right-of-use assets, net

111,522

118,740

Operating lease liabilities—current

36,296

39,801

Operating lease liabilities—non-current

81,820

89,782

Total lease obligation

$ 118,116

$ 129,583

Weighted average remaining lease term (in years)

4 years 10 months 24 days

5 years 1 month 6 days

Weighted average discount rate

5.70%

Finance leases

Finance lease right-of-use assets, gross

^[1]

$ 13,501

Accumulated amortization

^[1]

(3,728)

(3,053)

Finance lease right-of-use assets, net

^[1]

9,773

10,448

Finance lease liabilities-current

^[2]

2,690

2,685

Finance lease liabilities-non-current

^[3]

7,132

7,806

Total lease obligation

$ 9,822

$ 10,491

Weighted average remaining lease term (in years)

3 years 8 months 12 days

3 years 10 months 24 days

Weighted average discount rate

5.90%

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Assets, Current

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Liabilities, Current

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Other Liabilities, Noncurrent

Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]

Liabilities

[1]	Included in the condensed consolidated balance sheets within property and equipment, net.
[2]	Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities.
[3]	Included in the condensed consolidated balance sheets within other liabilities—non-current.

Leases - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 11,849	$ 13,476
Financing cash flows from finance leases	1,856	219
Lease liabilities arising from obtaining right-of-use assets from operating leases	$ 1,346	$ 3,950

Leases - Remaining Maturity Under Topic 842 (Details) - USD ($)
$ in Thousands

Oct. 31, 2022

Jul. 31, 2022

$ 30,115

29,806

17,319

13,914

12,668

36,344

140,166

Less: imputed interest

(22,050)

Total lease obligation

118,116

$ 129,583

Less: current lease obligations

(36,296)

(39,801)

Long-term lease obligations

81,820

89,782

Finance leases

2,063

2,750

2,750

2,048

338

9,949

Less: imputed interest

(127)

Total lease obligation

9,822

10,491

Less: current lease obligations

^[1]

(2,690)

(2,685)

Long-term lease obligations

^[2]

7,132

$ 7,806

Total

32,178

32,556

20,069

15,962

13,006

36,344

150,115

Less: imputed interest

(22,177)

Total lease obligation

127,938

Less: current lease obligations

(38,986)

Long-term lease obligations

$ 88,952

[1]	Included in the condensed consolidated balance sheets within accrued expenses and other current liabilities.
[2]	Included in the condensed consolidated balance sheets within other liabilities—non-current.

Commitments and Contingencies - Additional Information (Details) $ in Millions	Oct. 31, 2022 USD ($)
Non-contract Vendors
Loss Contingencies [Line Items]
Purchase obligation	$ 96.7
Contract Manufacturer
Loss Contingencies [Line Items]
Purchase obligation	$ 79.3

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2021 USD ($) $ / shares shares	Oct. 31, 2022 USD ($) Class Vote $ / shares shares	Oct. 31, 2021 USD ($)	Nov. 30, 2022 $ / shares	Jul. 31, 2022 $ / shares shares	Jan. 03, 2022 $ / shares
Class of Stock [Line Items]
Number of authorized common stock \| Class		1
Common stock, shares authorized (in shares)		1,042,004,000			1,042,004,000
Common stock, par value (in dollars per share) \| $ / shares				$ 0.000025
Payments for repurchase of common stock \| $		$ 0	$ 58,570
Common Class A [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		1,000,000,000.0			1,000,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.000025			$ 0.000025	$ 0.000025
Common stock, shares issued (in shares)		230,108,000			226,938,000
Common stock, shares outstanding (in shares)		230,108,000			226,938,000
Common stock number of votes per share \| Vote		1
Repurchase and retirement of common stock (in shares)	1,400,000
Stock repurchase price (in dollars per share) \| $ / shares	$ 42.77
Payments for repurchase of common stock \| $	$ 97,700
Net cash proceeds from the issuance \| $	$ 58,500
Common Class B [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		42,004,000			42,004,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.000025			$ 0.000025	$ 0.000025
Common stock, shares issued (in shares)		0
Common stock, shares outstanding (in shares)		0

Equity Incentive Plans - Additional Information (Details)					1 Months Ended				3 Months Ended
	Aug. 01, 2022 shares	Aug. 01, 2021 shares	Dec. 13, 2019 USD ($) PurchasePeriod shares	Dec. 13, 2019 USD ($) PurchasePeriod shares	Aug. 31, 2022 $ / shares shares	Oct. 31, 2021 $ / shares shares	Dec. 31, 2020 $ / shares shares	Sep. 30, 2016 shares	Oct. 31, 2022 USD ($) Plan $ / shares shares	Oct. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans \| Plan									3
Shares reserved for future issuance (in shares)									48,200,000
Number of shares available for grant (in shares)									13,800,000
Grants in period (in shares)									0
Exercises in period (in shares)									1,400,000
Weighted average exercise price (in dollars per share) \| $ / shares									$ 6.25
Options outstanding (in shares)									300,000
Outstanding options, weighted average exercise price (in dollars per share) \| $ / shares									$ 7.35
Contractual term									1 year 9 months 18 days
Options outstanding, intrinsic value \| $									$ 30,000,000.0
Monetary cap \| $			$ 25,000	$ 25,000
Share cap (in shares)			1,000
Offering period duration (in months)			12 months
Number of six-month purchase periods \| PurchasePeriod			2	2
Proceeds from stock plans \| $									22,186,000	$ 30,139,000
Compensation not yet recognized \| $									$ 735,200,000
Period for recognition (in years)									2 years 10 months 24 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)									15,060,000
Granted (in dollars per share) \| $ / shares									$ 17.95
Common Class A \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)			11,500,000	11,500,000
Number of additional shares authorized				9,200,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)									1.4
Percent of eligible compensation (up to)			15.00%	15.00%
Purchase price of common stock, percent				85.00%
ESPP stock issued during period (in shares)									1,000,000.0
2016 Plan \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)								22,400,000
Annual increase (in shares)								18,000,000.0
Annual increase, percent of outstanding shares								5.00%
Number of additional shares authorized	11,300,000	10,700,000
2016 Plan \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock plans \| $									$ 18,900,000
Market Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding (in shares)									2,200,000
Market Stock Units \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					1,300,000	400,000	700,000
Granted (in dollars per share) \| $ / shares					$ 27.89	$ 46.20	$ 35.69
Vesting percentage						200.00%	133.00%
Award vesting period					2 years 10 months 24 days	2 years 9 months 18 days	4 years

Equity Incentive Plans - RSU (Details) - RSUs	3 Months Ended
Equity Incentive Plans - RSU (Details) - RSUs	Oct. 31, 2022 $ / shares shares
Number of Shares
Outstanding, beginning balance (in shares) \| shares	22,136,000
Granted (in shares) \| shares	15,060,000
Released (in shares) \| shares	(1,903,000)
Forfeited (in shares) \| shares	(2,358,000)
Outstanding, ending balance (in shares) \| shares	32,935,000
Grant Date Fair Value per Share
Beginning Outstanding (in dollars per share) \| $ / shares	$ 29.81
Granted (in dollars per share) \| $ / shares	17.95
Released (in dollars per share) \| $ / shares	33.68
Forfeited (in dollars per share) \| $ / shares	28.89
Ending Outstanding (in dollars per share) \| $ / shares	$ 24.24

Equity Incentive Plans - ESPP (Details) - Employee Stock Purchase Plan	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	10 months 9 days	9 months 10 days
Risk-free interest rate	4.00%	0.10%
Volatility	64.30%	53.60%
Dividend yield	0.00%	0.00%

Equity Incentive Plans - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 80,955	$ 90,547
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	20,472	29,132
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	38,622	38,479
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	14,356	12,734
Product \| Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,159	1,751
Support, entitlements and other services \| Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 5,346	$ 8,451

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 5,443	$ 4,047

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Restructuring Charges (Additional Information) (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2022 Employee	Oct. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring description	In August 2022, we announced a plan to reduce our global headcount by approximately 270 employees, which represents approximately 4% of our total employees
Cash payments		$ 11,200,000
Restructuring Charges		5,800,000	$ 17,000.0
Accrued compensation and benefits		$ 5,800,000	5,800,000
Sales and marketing expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			14,100,000
Research And Development Expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			2,200,000
Support entitlements and other services cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			500,000
General and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			200,000
Employee
Restructuring Cost and Reserve [Line Items]
Number of employees reduced our global headcount \| Employee	270
Number of employees reduced our global headcount, Percent	4.00%
One-time severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 17,000,000.0

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
shares in Thousands

3 Months Ended

Oct. 31, 2022

Oct. 31, 2021

Earnings Per Share [Abstract]

Net loss

$ (99,116,000)

$ (419,852,000)

Weighted average shares-basic

^[1]

228,544

215,499

Weighted average shares-diluted

^[1]

228,544

215,499

Net loss per share attributable to common stockholders-basic

$ (0.43)

$ (1.95)

Net loss per share attributable to common stockholders-diluted

$ (0.43)

$ (1.95)

[1]	Effective January 3, 2022, all of the then outstanding shares of Nutanix, Inc. Class B common stock were automatically converted into the same number of shares of Nutanix, Inc. Class A common stock. See Note 8 for further details.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Net Loss Per Share - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	77,225	71,406
Outstanding stock options and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	34,355	29,602
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,902	1,836
Common stock issuable upon the conversion of the Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	39,968	39,968

Net Loss Per Share - Additional Information (Details) - $ / shares	Nov. 30, 2022	Oct. 31, 2022	Jul. 31, 2022	Jan. 03, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.000025
Common Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.000025	$ 0.000025	$ 0.000025
Common Class B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.000025	$ 0.000025	$ 0.000025

Segment Information - Additional information (Details)	3 Months Ended
Segment Information - Additional information (Details)	Oct. 31, 2022 Segment
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments	1

Segment Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2022	Oct. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 433,609	$ 378,517
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	255,730	217,150
Europe, the Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	100,253	83,995
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	69,103	65,683
Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 8,523	$ 11,689

- Definition

+ References

+ Details

Segment Information - Schedule of Sets Forth Long-Lived Assets Include Property and Equipment, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jul. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 111,361	$ 113,440
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	73,612	74,472
Non-US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 37,749	$ 38,968