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Fair Value Measurements
 6 Months Ended
Jul. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table sets forth our financial instruments that were measured at fair value on a recurring basis at the periods indicated below, by level within the fair value hierarchy (in thousands):
July 31, 2024
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents
Money market funds$22,478 $— $— $22,478 
Total cash equivalents22,478 — — 22,478 
Marketable securities
U.S. government securities$314,323 $— $— $314,323 
Foreign securities— 6,359 — 6,359 
Corporate debt securities— 104,218 — 104,218 
Total marketable securities314,323 110,577 — 424,900 
Liabilities
Contingent consideration$— $— $86 $86 
Total liabilities— — 86 86 
Total financial assets$336,801 $110,577 $86 $447,464 
January 31, 2024
Level 1Level 2Level 3Total
Financial Assets:
Cash equivalents
Money market funds$20,758 $— $— $20,758 
U.S. government securities6,996 — — 6,996 
Total cash equivalents27,754 — — 27,754 
Marketable securities
U.S. government securities$318,957 $— $— $318,957 
Foreign securities— 6,367 — 6,367 
Corporate debt securities— 82,574 — 82,574 
Total marketable securities318,957 88,941 — 407,898 
Liabilities
Contingent consideration$— $— $223 $223 
Total liabilities— — 223 223 
Total financial assets$346,711 $88,941 $223 $435,875 
Our money market funds and financial instruments that are classified as Level 1 within the fair value hierarchy, because they are valued using quoted prices in active markets as of July 31, 2024 and January 31, 2024. Financial instruments classified as Level 2 within our fair value hierarchy are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. Prices of these securities are obtained through independent, third-party pricing services and include market quotations that may include both observable and unobservable inputs. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices and market transactions in comparable investments and various relationships between investments.

The fair value of our contingent consideration is estimated using Level 3 unobservable inputs. The estimates of fair value are based upon assumptions believed to be reasonable but which are uncertain, and involve significant judgments by management. We will reassess the fair value of the contingent consideration quarterly until the contingency is resolved. The liability is recorded within other long-term liabilities on the consolidated balance sheets. Changes in the fair value are recorded in operating income in the consolidated statements of operations.

There were no transfers of financial instruments among Level 1, Level 2 and Level 3 during the periods presented.

The following table summarizes the fair value changes in the contingent consideration liability in connection with the acquisition of North Star Y, Pty Ltd (in thousands):

Three Months Ended
July 31,		Six Months Ended
July 31,
2024202320242023
Beginning fair value $86 $— $223 $— 
Additions/adjustments in the period
— 1,593 (137)1,593 
Ending fair value$86 $1,593 $86 $1,593