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Fair Value Measurements | 6 Months Ended
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Jul. 31, 2020
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Note 3: Fair Value Measurements The Company records its financial assets and liabilities at fair value. The Company estimates and categorizes fair value by applying the following hierarchy:
Level 1: | Quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2: | Observable prices based on inputs not quoted in active markets, but are corroborated by market data.
Level 3: | Unobservable inputs that are supported by little or no market activity.
The Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy were as follows (in thousands):
|  | Balance as of July 31, 2020 |  |  | Balance as of January 31, 2020 |
|  | Level 1 |  |  | Level 2 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Total |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 4,859 |  |  | $ | — |  |  | $ | 4,859 |  |  | $ | 4,822 |  |  | $ | — |  |  | $ | 4,822 |
Total cash equivalents |  | $ | 4,859 |  |  | $ | — |  |  | $ | 4,859 |  |  | $ | 4,822 |  |  | $ | — |  |  | $ | 4,822 |
Cash |  |  |  |  |  |  |  |  |  |  | 6,030 |  |  |  |  |  |  |  |  |  |  |  | 6,858 |
Total cash and cash equivalents |  |  |  |  |  |  | $ | 10,889 |  |  |  |  |  |  |  |  |  |  | $ | 11,680 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 10,496 |  |  | $ | — |  |  | $ | 10,496 |  |  | $ | 4,492 |  |  | $ | — |  |  | $ | 4,492 |
Corporate debt securities |  |  | — |  |  |  | 1,826 |  |  |  | 1,826 |  |  |  | — |  |  |  | 3,504 |  |  |  | 3,504 |
U.S. agency securities |  |  | — |  |  |  | 1,000 |  |  |  | 1,000 |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial paper |  |  | — |  |  |  | 525 |  |  |  | 525 |  |  |  | — |  |  |  | 5,482 |  |  |  | 5,482 |
Asset-backed securities |  |  | — |  |  |  | 606 |  |  |  | 606 |  |  |  | — |  |  |  | 906 |  |  |  | 906 |
Total short-term investments |  | $ | 10,496 |  |  | $ | 3,957 |  |  | $ | 14,453 |  |  | $ | 4,492 |  |  | $ | 9,892 |  |  | $ | 14,384 |
The Company classifies its cash equivalents and short-term investments within Level 1 or Level 2 because it uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. At July 31, 2020 and January 31, 2020, cash equivalents and short-term investments approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. The Company had no Level 3 assets or liabilities for the periods presented. The contractual maturities of short-term investments were as follows (in thousands):
|  |  |  |  |  | As of |
|  |  |  |  |  | July 31, 2020 |  |  | January 31, 2020 |
Due in one year or less |  |  |  |  |  | $ | 14,123 |  |  | $ | 13,145 |
Due after one year to two years |  |  |  |  |  |  | 330 |  |  |  | 1,239 |
Total |  |  |  |  |  | $ | 14,453 |  |  | $ | 14,384 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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