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v3.24.1

Financial Instruments and Fair Value (Tables) | 12 Months Ended
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Jan. 31, 2024
Investments, All Other Investments [Abstract] |
Schedule of Available-for-Sale Securities at Fair Value | All of the investments are classified as available-for-sale securities and reported at fair value in the consolidated balance sheets as follows:
|  | As of January 31, 2024 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Money market funds |  | $ | 296 |  |  | $ | — |  |  | $ | — |  |  | $ | 296 |
Commercial paper |  |  | 30,806 |  |  |  | — |  |  |  | — |  |  |  | 30,806 |
Corporate bonds |  |  | 38,867 |  |  |  | 180 |  |  |  | (135 | ) |  |  | 38,912 |
Asset-backed securities |  |  | 15,212 |  |  |  | 14 |  |  |  | (96 | ) |  |  | 15,130 |
U.S. government securities |  |  | 21,118 |  |  |  | — |  |  |  | (146 | ) |  |  | 20,972 |
Total cash equivalents and marketable debt securities |  | $ | 106,299 |  |  | $ | 194 |  |  | $ | (377 | ) |  | $ | 106,116 |
|  | As of January 31, 2023 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Money market funds |  | $ | 7,872 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,872 |
Commercial paper |  |  | 18,333 |  |  |  | — |  |  |  | — |  |  |  | 18,333 |
Corporate bonds |  |  | 23,472 |  |  |  | 50 |  |  |  | (224 | ) |  |  | 23,298 |
Asset-backed securities |  |  | 18,753 |  |  |  | 44 |  |  |  | (149 | ) |  |  | 18,648 |
U.S. government securities |  |  | 33,256 |  |  |  | 22 |  |  |  | (235 | ) |  |  | 33,043 |
Total cash equivalents and marketable debt securities |  | $ | 101,686 |  |  | $ | 116 |  |  | $ | (608 | ) |  | $ | 101,194 |
Schedule of Available-for-Sale Securities Unrealized Loss Position at Fair Value | The following table provides the breakdown of unrealized losses as of January 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous loss position:
|  | As of January 31, 2024 |
|  | Less than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
|  | (in thousands) |
Corporate bonds |  | $ | 9,050 |  |  | $ | (19 | ) |  | $ | 8,363 |  |  | $ | (116 | ) |  | $ | 17,413 |  |  | $ | (135 | )
Asset-backed securities |  |  | 4,821 |  |  |  | (15 | ) |  |  | 6,289 |  |  |  | (81 | ) |  |  | 11,110 |  |  |  | (96 | )
U.S. government securities |  |  | 15,020 |  |  |  | (65 | ) |  |  | 5,952 |  |  |  | (81 | ) |  |  | 20,972 |  |  |  | (146 | )
Total marketable debt securities at loss position |  | $ | 28,891 |  |  | $ | (99 | ) |  | $ | 20,604 |  |  | $ | (278 | ) |  | $ | 49,495 |  |  | $ | (377 | )
Schedule of Cash Equivalents and Marketable Debt Securities |
|  | As of |
|  | January 31, 2024 |  |  | January 31, 2023 |
|  | (in thousands) |
Included in cash equivalents |  | $ | 31,103 |  |  | $ | 7,872 |
Included in marketable debt securities |  |  | 75,013 |  |  |  | 93,322 |
Total cash equivalents and marketable debt securities |  | $ | 106,116 |  |  | $ | 101,194 |
Summary of Contractual Maturities of Investments | The contractual maturities of the investments at January 31, 2024 and 2023 were as follows:
|  | As of |
|  | January 31, 2024 |  |  | January 31, 2023 |
|  | (in thousands) |
Due within one year |  | $ | 50,216 |  |  | $ | 48,016 |
Due in 1-5 years |  |  | 55,900 |  |  |  | 52,414 |
Due in 5-7 years |  |  | — |  |  |  | 764 |
Total cash equivalents and marketable debt securities |  | $ | 106,116 |  |  | $ | 101,194 |
Schedule of Fair Value of Financial Instruments Measured on Recurring Basis | The following tables present the fair value of the financial instruments measured on a recurring basis as of January 31, 2024 and 2023, respectively:
|  | As of January 31, 2024 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (in thousands) |
Money market funds |  | $ | 296 |  |  | $ | 296 |  |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 30,806 |  |  |  | — |  |  |  | 30,806 |  |  |  | — |
Corporate bonds |  |  | 38,912 |  |  |  | — |  |  |  | 38,912 |  |  |  | — |
Asset-backed securities |  |  | 15,130 |  |  |  | — |  |  |  | 15,130 |  |  |  | — |
U.S. government securities |  |  | 20,972 |  |  |  | — |  |  |  | 20,972 |  |  |  | — |
Total cash equivalents and marketable debt securities |  | $ | 106,116 |  |  | $ | 296 |  |  | $ | 105,820 |  |  | $ | — |
|  | As of January 31, 2023 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (in thousands) |
Money market funds |  | $ | 7,872 |  |  | $ | 7,872 |  |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 18,333 |  |  |  | — |  |  |  | 18,333 |  |  |  | — |
Corporate bonds |  |  | 23,298 |  |  |  | — |  |  |  | 23,298 |  |  |  | — |
Asset-backed securities |  |  | 18,648 |  |  |  | — |  |  |  | 18,648 |  |  |  | — |
U.S. government securities |  |  | 33,043 |  |  |  | — |  |  |  | 33,043 |  |  |  | — |
Total cash equivalents and marketable debt securities |  | $ | 101,194 |  |  | $ | 7,872 |  |  | $ | 93,322 |  |  | $ | — |
In addition to the available-for-sale securities, the Company also has fixed deposit accounts that are classified as cash equivalents. As of January 31, 2024, the total fair value of $7.0 million with fixed deposit accounts was considered to be equal to their book value.

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