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Fair Value Measurements (Tables)

6 Months Ended

Jan. 28, 2023

Schedule of Short-term and Long-term Investments Accounted for as Available-for-sale Measured at Fair Value on Recurring Basis

The following table sets forth our cash equivalents, and short-term and long-term investments accounted for as available-for-sale securities that were measured at fair value on a recurring basis based on the fair value hierarchy as of January 28, 2023, and July 30, 2022:


	January 28, 2023								July 30, 2022
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	11,658	$	—	$	—	$	11,658	$	16,267	$	—	$	—	$	16,267

Investments:
U.S. Treasury securities	42,748		—		—		42,748		42,260		—		—		42,260

Commercial paper	—		—		—		—		—		2,985		—		2,985

Corporate bonds	—		42,160		—		42,160		—		54,517		—		54,517
Total	$	54,406	$	42,160	$	—	$	96,566	$	58,527	$	57,502	$	—	$	116,029

Schedule of Amortized Cost, Gross Unrealized Gains (Losses) and Fair Value of Available-for-sale Investments

The following table sets forth the amortized cost, gross unrealized gains, gross unrealized losses and fair values of our short-term and long-term investments accounted for as available-for-sale securities as of January 28, 2023, and July 30, 2022:


	January 28, 2023								July 30, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Financial Assets:
Investments:
U.S. Treasury securities	$	43,311	$	—	$	(563)	$	42,748	$	43,163	$	—	$	(903)	$	42,260

Commercial paper	—		—		—		—		2,985		—		—		2,985

Corporate bonds	42,754		—		(594)		42,160		55,526		—		(1,009)		54,517
Total	$	86,065	$	—	$	(1,157)	$	84,908	$	101,674	$	—	$	(1,912)	$	99,762

Schedule of Unrealized Loss on Investments

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position as of January 28, 2023:


	Less Than 12 Months				More Than 12 Months				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Financial Assets:
Investments:
U.S. Treasury securities	$	42,748	$	(563)	$	—	$	—	$	42,748	$	(563)



Corporate bonds	16,592		(247)		25,568		(347)		42,160		(594)
Total	$	59,340	$	(810)	$	25,568	$	(347)	$	84,908	$	(1,157)

Schedule of Fair Value of Available-for-sale Securities By Contractual Maturity

The following table sets forth the fair value of available-for-sale securities by contractual maturity as of January 28, 2023 and July 30, 2022:


	January 28, 2023								July 30, 2022
(in thousands)	One Year or Less		Over One Year Through Five Years		Over Five Years		Total		One Year or Less		Over One Year Through Five Years		Over Five Years		Total
Financial Assets:
Investments:
U.S. Treasury securities	$	42,487	$	261	$	—	$	42,748	$	35,473	$	6,787	$	—	$	42,260

Commercial paper	—		—		—		—		2,985		—		—		2,985

Corporate bonds	40,133		2,027		—		42,160		43,591		10,926		—		54,517
Total	$	82,620	$	2,288	$	—	$	84,908	$	82,049	$	17,713	$	—	$	99,762