XML 42 R29.htm IDEA: XBRL DOCUMENT v3.24.1
Financial Instruments and Fair Value (Tables)
 12 Months Ended
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.