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Fair Value Measurements
 6 Months Ended
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