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Fair Value Measurements | 3 Months Ended
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Apr. 30, 2017
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements The Company measures its financial assets at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs maybe used to measure as follows: Level 1-Valuations based on observable inputs that reflect quoted prices for identical assets or liabilities in active markets. Level 2-Valuations based on inputs that are directly or indirectly observable in the marketplace. Level 3-Valuations based on unobservable inputs that are supported by little or no market activity. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis using the above input categories (in thousands):
| As of April 30, 2017
| (unaudited)
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 217,651 |  |  | $ | — |  |  | $ | — |  |  | $ | 217,651 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | — |  |  | 2,500 |  |  | — |  |  | 2,500 |
Total short-term investments | — |  |  | 2,500 |  |  | — |  |  | 2,500 |
Total cash equivalents and short-term investments | $ | 217,651 |  |  | $ | 2,500 |  |  | $ | — |  |  | $ | 220,151 |
| As of January 31, 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 10,565 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,565 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 1,538 |  |  | — |  |  | 1,538 |
Corporate debt securities | — |  |  | 12,852 |  |  | — |  |  | 12,852 |
Total short-term investments | — |  |  | 14,390 |  |  | — |  |  | 14,390 |
Total cash equivalents and short-term investments | $ | 10,565 |  |  | $ | 14,390 |  |  | $ | — |  |  | $ | 24,955 |
Liabilities: |  |  |  |  |  |  |
Series B redeemable convertible preferred stock warrant | $ | — |  |  | $ | — |  |  | $ | 304 |  |  | $ | 304 |
Level 3 instruments consist solely of the Company’s Series B redeemable convertible preferred stock warrant liability. During the three months ended April 30, 2017, the Series B redeemable convertible preferred stock warrant was exercised, the corresponding warrant liability was remeasured to fair value, as recognized in other income (expense), net in the condensed consolidated statements of operations, and reclassified to additional paid-in capital. The change in the fair value of the Series B redeemable convertible preferred stock warrant was as follows (in thousands):
Balance at January 31, 2017 | $ | 304 |
Increase in fair value of warrant through exercise date | 103 |
Reclassification of remaining warrant liability to additional paid-in capital | (407 | )
Balance at April 30, 2017 | $ | — |
The Company had no transfers between levels of the fair value hierarchy of its assets measured at fair value. The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, accounts payable and the financing arrangements (see Note 7) approximate fair value due to their short-term maturities and are excluded from the fair value table above.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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