Convertible Senior Notes (Tables)

6 Months Ended

Jan. 31, 2023

2023 Convertible Senior Notes

Debt Instrument [Line Items]

Components of Notes

The 2023 Notes consisted of the following:

	As of
	July 31, 2022			January 31, 2023
	(in thousands)
Principal amounts:
Principal	$	145,704		$	145,704
Unamortized debt issuance costs (1)		(248	)		—
Repayment of convertible senior notes		—			(145,704	)
Net carrying amount	$	145,456		$	—

(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 was 0.41%.

Interest Expense Recognized

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

	Three Months Ended January 31,				Six Months Ended January 31,
	2022		2023		2022		2023
	(in thousands)
Interest expense related to amortization of debt    issuance costs	$	148	$	99	$	548	$	248

2026 Convertible Senior Notes

Debt Instrument [Line Items]

Components of Notes

The 2026 Notes consisted of the following:

	As of
	July 31, 2022			January 31, 2023
	(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	)		(151,426	)
Unamortized debt issuance costs (1)		(19,359	)		(17,301	)
Net carrying amount	$	589,200		$	618,995

(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%.

Interest Expense Recognized

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

	Three Months Ended January 31,				Six Months Ended January 31,
	2022		2023		2022		2023
	(in thousands)
Interest expense related to amortization of debt    discount	$	8,469	$	9,085	$	16,789	$	18,012
Interest expense related to amortization of debt    issuance costs		968		1,038		1,919		2,058
Non-cash interest expense		4,802		4,923		9,575		9,817
Total interest expense	$	14,239	$	15,046	$	28,283	$	29,887

2027 Convertible Senior Notes

Debt Instrument [Line Items]

Components of Notes

The 2027 Notes consisted of the following:

	As of
	July 31, 2022			January 31, 2023
	(in thousands)
Principal amounts:
Principal	$	575,000		$	575,000
Unamortized debt issuance costs (1)		(7,995	)		(7,231	)
Net carrying amount	$	567,005		$	567,769

(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%.

Interest Expense Recognized

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

	Three Months Ended January 31,				Six Months Ended January 31,
	2022		2023		2022		2023
	(in thousands)
Contractual interest expense	$	359	$	359	$	511	$	718
Interest expense related to amortization of debt    issuance costs		380		382		540		764
Total interest expense	$	739	$	741	$	1,051	$	1,482