Financial Analysis

"NOTE 7. COMMITMENTS AND CONTINGENCIES Purchase Commitments In the normal course of business, we make commitments with our contract manufacturer 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 July 31, 2026, we had approximately $ 85.3 million of non-cancelable purchase obligations and other commitments pertaining to our daily business operations, and approximately $ 163.0 million in the form of guarantees to our contract manufacturer. Guarantees and Indemnifications We have entered into agreements with some of our Partners and customers that contain indemnification provisions in the event of claims alleging that our products infringe the intellectual property rights of a third party. The scope of such indemnification varies, and may include, in certain cases, the ability to cure the indemnification by modifying or replacing the product at our own expense, requiring the return and refund of the infringing product, procuring the right for the partner and customer to continue to use or distribute the product, as applicable, and/or defending the partner or customer against and paying an …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 5. DEBT 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 ""2026 Notes""). The 2026 Notes bore interest at a rate of 2.50 % per annum, with such interest paid in kind (""PIK"") on the 2026 Notes held by Bain through an increase in the principal amount of the 2026 Notes, and that would have been paid in cash on any 2026 Notes transferred to entities that are not affiliated with Bain. Interest on the 2026 Notes accrued from the date of issuance, September 24, 2020, and was added to the principal amount on a semi-annual basis (on March 15 and September 15 of each year). On June 6, 2024, Bain delivered a notice of conversion to convert $ 817.6 million aggregate principal amount of the 2026 Notes, representing all of the outstanding principal amount as of that date. Under the terms of the indenture governing the 2026 Notes, the conversion was settled by paying the $ 817.6 million principal amount in cash and delivering the conversion spread of approximately 16.9 million shares of our Class A common stock. The cash portion was settled using a portion of our existing cash, cash equivalents and short-term investments. The 2026 Notes were converted in accordance with their original terms and conditions. Upon conversion, because the carrying amount of the conversion option was previously reclassified to equity, the unamortized discount rem …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 9. EQUITY INCENTIVE PLANS Stock Plans We have one active equity incentive plan, the Amended and Restated 2016 Equity Incentive Plan (the ""2016 Plan""), and two inactive equity incentive plans, the 2010 Stock Plan (""2010 Plan"") and the 2011 Stock Plan (""2011 Plan"") (collectively, the ""Stock Plans""). Our stockholders initially 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 RSUs, or until those stock awards become vested or expired by their terms. In December 2025, our stockholders approved the amendment and restatement of the 2016 Plan to, among other things, extend the term of the plan, establish a new fixed maximum aggregate share reserve of 19,500,000 shares, and eliminate the annual evergreen feature that automatically increased the share reserve each year. Under the 2016 Plan, we may grant incentive stock options, non-statutory stock options, restricted stock, RSUs, stock appreciation rights, performance units, and performance shares to employees, directors and consultants. As of July 31, 2026 , we ha …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"NOTE 3. FAIR VALUE MEASUREMENTS The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy based on the observability of the inputs available in the market used to measure fair value as follows: Level I Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level II Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level III Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data. Assets Measured at Fair Value on a Recurring Basis Cash Equivalents and Short-Term Investments Our money market funds are classified within Level I due to the highly liquid nature of these assets and have unadjusted inputs, quoted prices in active markets for these assets at the measurement date from the financial institution that carries these investment securities. Our investments in available-for-sale debt securities such as commercial paper, corporate bonds and U.S. government securities are classified within Level II. The fair value of these securities is priced by using inputs based on no …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"NOTE 12. INCOME TAXES Income Taxes (Loss) income before provision for (benefit from) income taxes by fiscal year consisted of the following: Fiscal Year Ended July 31, 2024 2025 2026 (in thousands) Domestic $ ( 167,745 ) $ 118,516 $ 221,988 Foreign 66,427 93,132 105,120 (Loss) income before provision for (benefit from) income taxes $ ( 101,318 ) $ 211,648 $ 327,108 Provision for (benefit from) income taxes by fiscal year consisted of the following: Fiscal Year Ended July 31, 2024 2025 2026 (in thousands) Current: U.S. federal $ $ 1,489 $ 16 State and local 2,052 3,774 3,173 Foreign 23,925 21,657 17,029 Total current taxes 25,977 26,920 20,218 Deferred: U.S. federal 24 24 ( 1,091,757 ) State and local ( 104,005 ) Foreign ( 2,544 ) ( 3,662 ) ( 4,185 ) Total deferred taxes ( 2,520 ) ( 3,638 ) ( 1,199,947 ) Provision for (benefit from) income taxes $ 23,457 $ 23,282 $ ( 1,179,729 ) A reconciliation of the benefit from income taxes to the amount computed by applying the 21 % statutory U.S. federal income tax rate to income before income taxes after the adoption of ASU 2023-09 is as follows: Fiscal Year Ended July 31, 2026 (in thousands) U.S. federal income tax at statutory rate $ 68,710 21.0 % State and local income taxes (1) ( 100,832 ) ( 30.8 )% Foreign tax effects 7,118 2.2 % Effect of cross-border tax laws Effect of foreign branches 20,852 6.4 % Tax credit Foreign tax credits ( 35,593 ) ( 10.9 )% Research and development tax credits ( 28,110 ) ( 8.6 )% Changes in valuation al …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 6. LEASES We have operating leases for offices, research and development facilities and data centers and finance leases for certain data center equipment. Our leases have remaining lease terms of one year to approximately nine 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 approxim ately $ 38.6 million, $ 37.7 million and $ 45.6 million for the fiscal years ended July 31, 2024, 2025 and 2026, 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 immaterial for the fiscal years ended July 31, 2024, 2025 and 2026. In fiscal 2026, we executed an agreement to reduce the term and payments of a lease for a data center facility. The agreement was accounted for as a lease modification under ASC 842. Accordingly, the lease liability was remeasured resulting in a $ 16.7 million reduction to both the lease liability and right-of-use asset. Supplemental balance sheet information related to our leases is as follows: As of July 31, 2025 July 31, 2026 (in thousands) Operating leases …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Issued and Not Yet Adopted Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the statement of operations. This new ASU is effective for fiscal years beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. This ASU will be effective for us beginning in fiscal 2028. We are currently evaluating the impact this new standard will have on our disclosures. In September 2025, the FASB issued ASU 2025-06, IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes all references to software development stages and clarifies the threshold entities apply to begin capitalizing costs. This new ASU is effective for fiscal years beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. This ASU will be effective for us beginning in fiscal 2029. We are currently evaluating the impact this new standard will have on our consolidated financial statements. …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 10. RESTRUCTURING CHARGES In August 2026, we announced a plan to reduce our global headcount by approximately 5%, following a review of our business structure. This headcount reduction is intended to streamline and realign our organizational structure, improve operational efficiency and agility, and reallocate resources toward strategic priorities and long-term growth objectives. As of July 31, 2026 , we recognized total restructuring charges of approximately $ 27.6 million, which consisted primarily of customary severance and other termination benefits directly related to this reduction in force. Of the approximately $ 27.6 million recognized, $ 3.7 million is included within support, maintenance and other services cost of revenue, $ 17.6 million is included within sales and marketing expense, $ 5.2 million is included within research and development expense, and $ 1.1 million is included within general and administrative expense on our consolidated statements of operations. During the fiscal year ended July 31, 2026 , we did no t make any cash payments. As of July 31, 2026 , we had a remaining restructuring liability of approximately $ 27.6 million, included within accrued compensation and benefits and accrued expenses and other current liabilities in our consolidated balance sheet. We expect to incur additional charges of $ 5.4 million to $ 15.4 million related to this reduction in force during fiscal 2027.

RestructuringAndRelatedActivitiesDisclosureTextBlock

"NOTE 2. REVENUE, DEFERRED REVENUE AND DEFERRED COMMISSIONS Disaggregation of Revenue and Revenue Recognition The Nutanix Cloud Platform can be deployed in core data centers, at the edge, or in public clouds, running on a variety of qualified hardware platforms (including our Nutanix-branded NX hardware line), in popular public cloud environments such as Amazon Web Services and Microsoft Azure through Nutanix Cloud Clusters, or, in the case of our cloud-based software and software-as-a-service (""SaaS"") offerings, via hosted service. Our subscription term-based licenses are sold separately, or can also be sold alongside configured-to-order servers. Our subscription term-based licenses typically have durations ranging from one to five years . Our cloud-based SaaS subscriptions generally have durations extending up to five years. The following table depicts the disaggregation of revenue by revenue type, consistent with how we evaluate our financial performance: Fiscal Year Ended July 31, 2024 2025 2026 (in thousands) Subscription $ 2,016,776 $ 2,410,751 $ 2,712,274 Professional services and other (1) 132,040 127,176 141,271 Total revenue $ 2,148,816 $ 2,537,927 $ 2,853,545 (1) Prior to fiscal 2026, these amounts were presented as separate line items, Professional services and Other non-subscription product, as described below. Prior period amounts have been updated to conform to the current period presentation. Subscription revenue Subscription revenue includes any performance …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"NOTE 13. SEGMENT INFORMATION Our chief operating decision maker (""CODM"") is our Chief Executive Officer, who reviews financial information presented on a consolidated basis. Accordingly, we have a single operating and reportable segment. The CODM uses net income, as reported on our consolidated statements of operations, as the measure of segment profit or loss to allocate resources and evaluate financial performance. The significant expenses regularly provided to the CODM are those expenses presented in our consolidated statements of operations and related notes to consolidated financial statements. There is no expense or asset information that is supplemental to the information disclosed in these consolidated financial statements. The following table sets forth revenue by geographic location based on bill-to location: Fiscal Year Ended July 31, 2024 2025 2026 (in thousands) United States $ 1,189,213 $ 1,409,367 $ 1,530,445 Europe, the Middle East and Africa 563,281 685,569 831,422 Asia Pacific 348,952 392,744 417,787 Other Americas 47,370 50,247 73,891 Total revenue $ 2,148,816 $ 2,537,927 $ 2,853,545 For the fiscal years ended July 31, 2024, 2025 and 2026 , no individual country, other than the United States, accounted for more than 10 % of total revenue. The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location: As of July 31, 2025 July 31, 2026 (in thousands) United States $ 108,921 $ 100,018 Internati …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 8. STOCKHOLDERS EQUITY We have one class of outst anding common stock consisting of Class A common stock. As of July 31, 2026 , we had 1.0 billion shares of Class A common stock authorized, with a par value of $ 0.000025 per share, and approximately 270.8 million shares issued and outstanding, and 0.2 million shares of preferred stock authorized, with a par value of $ 0.000025 per share, and no shares 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. Share Repurchases In August 2023, our Board of Directors authorized the repurchase of up to $ 350.0 million of our Class A common stock. In August 2025 and April 2026, our Board of Directors approved increases of $ 350.0 million and $ 750.0 million, respectively, to the share repurchase authorization. Repurchases may be made from time to time through open market purchases, through privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act in accordance with applicable securities laws and other restrictions. The authorization has no expiration date, may be modified, suspended or discontinued at any time, and does not obligate us to repurchase any minimum number of shares. During the fiscal year ended July 31, 2025 , we repurchased approximately 1.6 million shares of Class A common stock in open market t …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

"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, 2025, we had approximately $ 100.3 million of non-cancelable purchase obligations and other commitments pertaining to our daily business operations, and approximately $ 66.6 million in the form of guarantees to certain of our contract manufacturers. Legal Proceedings We are not currently a party to any legal proceedings that we believe to be material to our business or financial condition. From time to time, we may become subject to various lawsuits, claims, investigations and proceedings that arise in the ordinary course of business. The U.S. Department of Justice (the ""DOJ"") has been investigating U.S. federal government IT purchases, including historical conduct by a former employee involving one of our federal customers. After the former employee left our company, we learned that he was charged and pleaded guilty to conspiracy to defraud the United States and wire fraud relat …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 5. D EBT 2027 Notes In September 2021, we issued $ 575.0 million in aggregate 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 previously outstanding 0 % convertible senior notes due 2023 (the "" 2023 Notes"") and (ii) approximately $ 97.7 million principal amount of 2027 Notes for cash. 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 was recognized as a debt extinguishment loss within other expense, net in the condensed consolidated statement of operations. In December 2024, we issued $ 862.5 million in aggregate principal amount of 0.50 % convertible senior notes due 2029, discussed below. We used approximately $ 95.5 million of the net proceeds from the offering to repurchase $ 75.0 million aggregate principal amount of the outstanding 2027 Notes. The repu …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 9. EQUITY INCENTIVE PLANS Stock Plans We have one active equity incentive plan, the 2016 Equity Incentive Plan (the ""2016 Plan""), and two inactive equity incentive plans, the 2010 Stock Plan (""2010 Plan"") and the 2011 Stock Plan (""2011 Plan"") (collectively, the ""Stock Plans""). 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 approximately 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 clas …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"NOTE 3. FAIR VAL UE MEASUREMENTS The fair value of our financial assets measured on a recurring basis is as follows: As of July 31, 2025 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 371,762 $ $ $ 371,762 U.S. Government securities 21,703 21,703 Commercial paper 13,068 13,068 Short-term investments: Corporate bonds 647,074 647,074 Commercial paper 163,055 163,055 U.S. Government securities 413,105 413,105 Total measured at fair value $ 371,762 $ 1,258,005 $ $ 1,629,767 Cash 362,969 Total cash, cash equivalents and short-term investments $ 1,992,736 Financial Assets, Non-Current: Convertible note receivable $ $ $ 5,460 $ 5,460 As of October 31, 2025 Level I Level II Level III Total (in thousands) Financial Assets, Current: Cash equivalents: Money market funds $ 338,468 $ $ $ 338,468 Commercial paper 3,741 3,741 Short-term investments: Corporate bonds 710,155 710,155 Commercial paper 112,974 112,974 U.S. Government securities 458,646 458,646 Total measured at fair value $ 338,468 $ 1,285,516 $ $ 1,623,984 Cash 438,212 Total cash, cash equivalents and short-term investments $ 2,062,196 Financial Assets, Non-Current: Convertible note receivable $ $ $ 5,460 $ 5,460 Financial Instruments Not Recorded at Fair Value on a Recurring Basis We report our financial instruments at fair value, with the exception of the 0.25 % convertible senior notes due 2027 (the ""2027 Notes"") and the 0.50 % convertible senior notes due …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE 10. IN COME TAXES The income tax provisions of $ 6.9 million for the three months ended October 31, 2024 and $ 3.5 million for the three months ended October 31, 2025 primarily consisted of foreign taxes on our international operations and U.S. federal and state income taxes. We continue to maintain a full valuation allowance for our U.S. federal and state deferred tax assets.

IncomeTaxDisclosureTextBlock

NOTE 6. LEASES We have operating leases for offices, research and development facilities, and data centers and finance leases for certain data center equipment. Our leases have remaining lease terms of one year to approximat ely five 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 approximately $ 9.0 million for the three months ended October 31, 2024 and $ 10.3 million for the three months ended October 31, 2025 , 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 approximately $ 1.2 million for the three months ended October 31, 2024 and $ 1.0 million for the three months ended October 31, 2025. Supplemental balance sheet information related to our leases is as follows: As of July 31, 2025 October 31, 2025 (in thousands) Operating leases: Operating lease right-of-use assets, gross $ 217,060 $ 206,327 Accumulated amortization ( 82,534 ) ( 75,168 ) Operating lease right-of-use assets, net $ 134,526 $ 131,159 Operating lease liabilitiescurrent $ 23,234 $ 24,094 Operating lease liabilit …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recently Issued and Not Yet Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which provides for improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. The amendments in this update are effective for annual periods beginning after December 15, 2024, with early adoption permitted. This new ASU will be effective for us for our fiscal 2026 10-K. We do not expect this new standard to have a material impact on our disclosures. In November 2024, the FASB issued ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the statement of operations. This new ASU is effective for fiscal years beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. This new ASU will be effective for us beginning in fiscal 2028. We are currently evaluating the impact this new standard will have on our disclosures. In September 2025, the FA …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"NOTE 2. REVENUE, DEFERRED REV ENUE AND DEFERRED COMMISSIONS Disaggregation of Revenue and Revenue Recognition The Nutanix Cloud Platform can be deployed in core data centers, at the edge, or in public clouds, running on a variety of qualified hardware platforms (including our Nutanix-branded NX hardware line), in popular public cloud environments such as Amazon Web Services and Microsoft Azure through Nutanix Cloud Clusters, or, in the case of our cloud-based software and software-as-a-service (""SaaS"") offerings, via hosted service. Our subscription term-based licenses are sold separately, or can also be sold alongside configured-to-order servers. Our subscription term-based licenses typically have durations ranging from one to five years . Our cloud-based SaaS subscriptions generally have durations extending up to five years. The following table depicts the disaggregation of revenue by revenue type, consistent with how we evaluate our financial performance: Three Months Ended October 31, 2024 2025 (in thousands) Subscription $ 560,696 $ 637,840 Professional services and other (1) 30,260 32,736 Total revenue $ 590,956 $ 670,576 (1) Prior to fiscal 2026, these amounts were presented as separate line items, Professional services and Other non-subscription product, as described below. Prior period amounts have been updated to conform to the current period presentation. Subscription revenue Subscription revenue includes any performance obligation which has a defined duration a …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"NOTE 12. SEGME NT INFORMATION Our chief operating decision maker (""CODM"") is our Chief Executive Officer, who reviews financial information presented on a consolidated basis. Accordingly, we have a single operating and reportable segment. The CODM uses net income, as reported on our condensed consolidated statements of operations, as the measure of segment profit or loss to allocate resources and evaluate financial performance. The significant expenses regularly provided to the CODM are those expenses presented in our condensed consolidated statements of operations and related notes to condensed consolidated financial statements. There is no expense or asset information that is supplemental to the information disclosed in these condensed consolidated financial statements. The following table sets forth revenue by geographic location based on bill-to location: Three Months Ended October 31, 2024 2025 (in thousands) United States $ 332,728 $ 385,973 Europe, the Middle East and Africa 151,191 173,780 Asia Pacific 95,819 90,085 Other Americas 11,218 20,738 Total revenue $ 590,956 $ 670,576 For the three months ended October 31, 2024 and 2025 , no individual country, other than the United States, accounted for more than 10 % of total revenue. The following table sets forth long-lived assets, which primarily include property and equipment, net, by geographic location: As of July 31, 2025 October 31, 2025 (in thousands) United States $ 108,921 $ 102,746 International 33,893 35,56 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

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, 2025 , filed with the SEC on September 24, 2025, that have had a material impact on our condensed consolidated financial statements.

SignificantAccountingPoliciesTextBlock

NOTE 8. STOCKHO LDERS EQUITY We have one class of outstanding common stock consisting of Class A common stock. As of October 31, 2025 , we had 1.0 billion shares of Class A common stock authorized, with a par value of $ 0.000025 per share. As of October 31, 2025, we had approx imately 270.7 million shares of Class A common stock issued and outstanding. As of October 31, 2025 , we had 0.2 million shares of preferred stock authorized, with a par value of $ 0.000025 per share, and no shares 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. Share Repurchases In August 2023, our Board of Directors authorized the repurchase of up to $ 350.0 million of our Class A common stock. In August 2025, our Board of Directors approved a $ 350.0 million increase to the share repurchase authorization. Repurchases may be made from time to time through open market purchases, through privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act in accordance with applicable securities laws and other restrictions. The authorization has no expiration date, may be modified, suspended or discontinued at any time, and does not obligate us to repurchase any minimum number of shares. During the three months ended October 31, 2025 , we repurchased approximately 0.7 million shares of Cla …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing