Balance Sheet Components (Tables)
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3 Months Ended |
Oct. 31, 2020 |
Balance Sheet Related Disclosures [Abstract] |
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Accounts Receivables and Allowance for Doubtful Accounts |
Accounts receivable, net consists of the following (in thousands): | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | Accounts receivable | $ | 79,528 | | | $ | 115,518 | | Allowance for credit losses and revenue reserves | (1,233) | | | (1,276) | | Accounts receivable, net | $ | 78,295 | | | $ | 114,242 | |
Allowance for Credit Losses and Revenue Reserves Changes to the allowance for credit losses and revenue reserves consists of the following (in thousands): | | | | | | Allowance, July 31, 2020 | $ | 1,276 | | Net changes to credit losses | — | | Net changes to revenue reserves | (43) | | Write-offs, net | — | | Allowance, October 31, 2020 | $ | 1,233 | |
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Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist of the following (in thousands): | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | Prepaid expenses | $ | 16,363 | | | $ | 16,969 | | Contract costs | 10,011 | | | 9,588 | | Deferred costs | 7,881 | | | 8,399 | | Deposits and other receivables | 11,496 | | | 11,033 | | Prepaid expenses and other current assets | $ | 45,751 | | | $ | 45,989 | |
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Property and equipment |
Property and equipment consist of the following (in thousands): | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | Computer hardware | $ | 17,051 | | | $ | 16,791 | | Purchased software | 5,843 | | | 5,445 | | Capitalized software development costs | 14,746 | | | 11,620 | | Equipment and machinery | 11,545 | | | 11,438 | | Furniture and fixtures | 9,762 | | | 9,792 | | Leasehold improvements | 48,682 | | | 46,165 | | Total property and equipment | 107,629 | | | 101,251 | | Less accumulated depreciation | (40,213) | | | (36,016) | | Property and equipment, net | $ | 67,416 | | | $ | 65,235 | |
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Schedule of Finite-Lived Intangible Assets |
The Company’s intangible assets are amortized over their estimated useful lives. Intangible assets consist of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | | Remaining Weighted-Average Useful Life (in years) | | Cost | | Accumulated Amortization | | Net Book Value | | Cost | | Accumulated Amortization | | Net Book Value | Intangible assets: | | | | | | | | | | | | | | Acquired technology | 1.6 | | $ | 93,600 | | | $ | 77,717 | | | $ | 15,883 | | | $ | 93,600 | | | $ | 73,191 | | | $ | 20,409 | | Customer contracts and related relationships | 3.6 | | 35,700 | | | 19,983 | | | 15,717 | | | 35,700 | | | 18,500 | | | 17,200 | | Partner relationships | 4.4 | | 200 | | | 102 | | | 98 | | | 200 | | | 96 | | | 104 | | Trademarks | 4.0 | | 2,500 | | | 1,071 | | | 1,429 | | | 2,500 | | | 982 | | | 1,518 | | Order backlog | 0.3 | | 8,700 | | | 8,442 | | | 258 | | | 8,700 | | | 8,223 | | | 477 | | Total | 2.6 | | $ | 140,700 | | | $ | 107,315 | | | $ | 33,385 | | | $ | 140,700 | | | $ | 100,992 | | | $ | 39,708 | |
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Future Amortization Expense |
The future amortization expense for existing intangible assets as of October 31, 2020, based on their current useful lives, is as follows (in thousands): | | | | | | Fiscal year ending July 31, | | 2021 (remainder of fiscal year) | $ | 13,642 | | 2022 | 11,143 | | 2023 | 3,799 | | 2024 | 2,379 | | 2025 | 1,938 | | Thereafter | 484 | | Total future amortization expense | $ | 33,385 | |
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Other Assets |
Other assets consist of the following (in thousands): | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | Prepaid expenses | $ | 4,577 | | | $ | 2,830 | | Contract costs | 23,838 | | | 25,221 | | Deferred costs | 4,916 | | | 5,729 | | Strategic equity investments | 3,181 | | | 1,164 | | Other assets | $ | 36,512 | | | $ | 34,944 | |
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Accrued Employee Compensation |
Accrued Employee Compensation Accrued employee compensation consists of the following (in thousands): | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | Bonus | $ | 10,858 | | | $ | 20,188 | | Commission | 1,116 | | | 7,201 | | Vacation | 22,143 | | | 20,637 | | Salaries, payroll taxes and benefits | 10,883 | | | 10,521 | | Accrued employee compensation | $ | 45,000 | | | $ | 58,547 | |
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Other Current Liabilities |
Other current liabilities consist of the following (in thousands): | | | | | | | | | | | | | October 31, 2020 | | July 31, 2020 | Lease liabilities | $ | 11,580 | | | $ | 10,936 | | Accrued royalties | 5,725 | | | 6,651 | | Accrued taxes | 2,116 | | | 3,817 | | Other | 3,417 | | | 4,302 | | Other current liabilities | $ | 22,838 | | | $ | 25,706 | |
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