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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Jul. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (27,198) $ 20,732 $ (26,743)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 42,641 39,953 35,611
Amortization of debt discount and issuance costs 12,886 12,194 4,512
Stock-based compensation 101,817 91,516 89,614
Charges to bad debt and revenue reserves 367 670 1,062
Deferred income tax (11,859) (13,998) 14,150
Amortization of premium (accretion of discount) on available-for-sale securities, net (1,882) (7,757) (1,418)
Changes in fair value of strategic investment 10,672 0 0
Other non-cash items affecting net income (loss) 739 189 0
Changes in operating assets and liabilities:      
Accounts receivable 23,878 (15,057) (40,832)
Unbilled accounts receivable (38,125) (17,341) 0
Prepaid expenses and other assets (8,672) (16,251) (2,737)
Operating lease assets (10,784)    
Accounts payable (1,209) (5,521) 16,794
Accrued employee compensation (15,624) 13,825 9,230
Deferred revenue 1,165 (9,628) 32,358
Lease liabilities 18,678    
Other liabilities 15,576 22,600 8,858
Net cash provided by (used in) operating activities 113,066 116,126 140,459
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of available-for-sale securities (1,280,755) (1,209,312) (859,657)
Sales of available-for-sale securities 134,050 77,204 74,118
Maturities of available-for-sale securities 1,168,720 879,532 390,025
Purchases of property and equipment (21,377) (44,921) (9,398)
Capitalized software development costs (4,283) (3,936) (2,613)
Acquisitions of business, net of acquired cash 0 0 (130,059)
Purchases of strategic investments (2,156) 0 0
Net cash provided by (used in) investing activities (5,801) (301,433) (537,584)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of convertible senior notes, net of issuance costs 0 0 387,239
Proceeds from issuance of common stock, net of issuance costs 0 0 220,948
Purchase of capped calls 0 0 (37,200)
Proceeds from issuance of common stock upon exercise of stock options 4,955 3,954 2,013
Net cash provided by (used in) financing activities 4,955 3,954 573,000
Effect of foreign exchange rate changes on cash and cash equivalents 648 (1,686) (1,911)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 112,868 (183,039) 173,964
CASH AND CASH EQUIVALENTS—Beginning of period 254,101 437,140 263,176
CASH AND CASH EQUIVALENTS—End of period 366,969 254,101 437,140
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for interest 5,000 5,036 0
Cash paid for income taxes, net of tax refunds 4,888 4,557 4,744
Accruals for purchases of property and equipment 343 10,763 1,508
Accruals for capitalized software development costs $ 406 $ 298 $ 189