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Equity Incentive Plans (Tables)
12 Months Ended
Jul. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of RSUs Activity

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

 

 

 

Fiscal Year Ended July 31,

 

 

 

2021

 

 

2022

 

 

 

Number of
Shares

 

 

Weighted
Average
Grant Date
Fair Value
per Share

 

 

Number of
Shares

 

 

Weighted
Average
Grant Date
Fair Value
per Share

 

 

 

(in thousands)

 

Outstanding at beginning of period

 

 

22,632

 

 

$

32.70

 

 

 

21,708

 

 

$

30.98

 

Granted

 

 

13,732

 

 

$

29.60

 

 

 

15,575

 

 

$

30.92

 

Released

 

 

(9,744

)

 

$

32.58

 

 

 

(9,626

)

 

$

32.68

 

Forfeited

 

 

(4,912

)

 

$

31.87

 

 

 

(5,521

)

 

$

32.55

 

Outstanding at end of period

 

 

21,708

 

 

$

30.98

 

 

 

22,136

 

 

$

29.81

 

Schedule of Stock Option Activity

Below is a summary of stock option activity under the Stock Plans:

 

 

Fiscal Year Ended July 31,

 

 

2021

 

 

2022

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life

 

 

Aggregate
Intrinsic
Value

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life

 

 

Aggregate
Intrinsic
Value

 

 

(in thousands)

 

 

 

 

 

(in years)

 

 

(in thousands)

 

 

(in thousands)

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding at beginning of period

 

7,546

 

 

$

5.10

 

 

 

3.6

 

 

$

129,010

 

 

 

3,334

 

 

$

5.20

 

 

 

2.8

 

 

$

102,740

 

Options granted

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

Options exercised

 

(3,712

)

 

$

4.07

 

 

 

 

 

 

 

 

 

(1,643

)

 

$

3.94

 

 

 

 

 

 

 

Options canceled/forfeited

 

(500

)

 

$

12.00

 

 

 

 

 

 

 

 

 

(2

)

 

$

13.04

 

 

 

 

 

 

 

Outstanding at end of period

 

3,334

 

 

$

5.20

 

 

 

2.8

 

 

$

102,740

 

 

 

1,689

 

 

$

6.43

 

 

 

1.9

 

 

$

14,707

 

Exercisable at end of period

 

3,334

 

 

$

5.20

 

 

 

2.8

 

 

$

102,739

 

 

 

1,689

 

 

$

6.43

 

 

 

1.9

 

 

$

14,707

 

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:

 

 

 

Fiscal Year Ended July 31,

 

 

 

2020

 

 

2021

 

 

2022

 

Expected term (in years)

 

 

0.92

 

 

 

0.77

 

 

 

0.81

 

Risk-free interest rate

 

 

0.1

%

 

 

0.1

%

 

 

1.0

%

Volatility

 

 

73.4

%

 

 

56.9

%

 

 

43.3

%

Dividend yield

 

 

%

 

 

%

 

 

%

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

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

 

 

 

Fiscal Year Ended July 31,

 

 

 

2020

 

 

2021

 

 

2022

 

 

 

(in thousands)

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

Product

 

$

5,334

 

 

$

6,023

 

 

$

7,379

 

Support, entitlements and other services

 

 

22,014

 

 

 

24,460

 

 

 

30,846

 

Sales and marketing

 

 

126,015

 

 

 

122,815

 

 

 

104,592

 

Research and development

 

 

153,252

 

 

 

150,856

 

 

 

143,759

 

General and administrative

 

 

45,383

 

 

 

54,391

 

 

 

56,670

 

Total stock-based compensation expense

 

$

351,998

 

 

$

358,545

 

 

$

343,246