Marketable Securities

6 Months Ended

Apr. 30, 2026

Investments, Debt and Equity Securities [Abstract]

The Company invests in money market funds, U.S. Treasury and government agency debt securities; all marketable securities are classified as available-for-sale and carried at fair value, with unrealized changes in fair value reflected in the other comprehensive income in the condensed consolidated statements of shareholders' equity.

As of April 30, 2026, the marketable securities consisted of the following:


	April 30, 2026
Description	Amortized Cost		Unrealized Holdings Gains		Unrealized Holdings Losses			Aggregate Fair Value
Cash equivalents and short-term investments:
Money market funds, included in cash and cash equivalents	$	26,515	$	—	$	—		$	26,515
U.S. government treasuries		214,973		36	$	(94	)	$	214,915
Government agency securities		13,732		—		(9	)	$	13,723
Total cash equivalents and short-term investments	$	255,220	$	36	$	(103	)	$	255,153
Long-term investments:
U.S. government treasuries		26,769		—		(60	)	$	26,709
Total long-term investments	$	26,769	$	—	$	(60	)	$	26,709
Total		281,989		36		(163	)	$	281,862

As of April 30, 2026, all marketable securities held by the Company had remaining contractual maturities of one year or less, except for certain U.S. treasury and government agency securities that had maturities of one to two years.

As of April 30, 2026, the Company held 60 securities, 42 of which, with an aggregate fair value of $182.9 million, were in an unrealized loss position. All investments in an unrealized loss position were in this position for less than 12 months except for one security that has sustained an unrealized loss position for greater than 12 months; the unrealized loss on this security is immaterial, representing less than 1% of its total value. There has been no change in the credit risk of such securities during the three and six months ended April 30, 2026. The Company does not intend to sell its investments and it is not more likely than not that the Company will be required to sell the securities before recovery of the amortized cost basis of its debt securities. No allowance for credit losses was recorded as of April 30, 2026 because the decline in fair value below amortized cost is not related to credit losses. Securities are evaluated at the end of each reporting period for evidence of the credit-related impairment. The unrealized losses on U.S. treasury and government agency securities range from 0-1% of their amortized cost.

As of October 31, 2025, the marketable securities consisted of the following:


	October 31, 2025
Description	Amortized Cost		Unrealized Holdings Gains		Unrealized Holdings Losses			Aggregate Fair Value
Cash equivalents and short-term investments:
Money market funds, included in cash and cash equivalents	$	8,642	$	—	$	—		$	8,642
U.S. government treasuries		146,984		131		(25	)		147,090
Government agency securities		21,368		7		(9	)		21,366
Total cash equivalents and short-term investments	$	176,994	$	138	$	(34	)	$	177,098
Long-term investments:
U.S. government treasuries		8,498		25		(1	)		8,522
Total long-term investments		8,498		25		(1	)		8,522
Total		185,492		163		(35	)		185,620

As of October 31, 2025, all marketable securities held by the Company had remaining contractual maturities of one year or less, except for certain government agency securities that had maturities of one to two years.

As of October 31, 2025, the Company held 50 securities, 14 of which, with an aggregate fair value of $55.9 million, were in unrealized loss position. All investments in an unrealized loss position were in this position for less than 12 months. The Company does not intend to sell its investments before recovery of the amortized cost basis of its debt securities at maturity and no allowance for credit losses was recorded as of October 31, 2025 because the decline in fair value below amortized cost is not related to credit losses. Securities are evaluated at the end of each reporting period. The unrealized losses on U.S. Treasury and government agency securities range from 0-1% of their amortized cost.

Accrued interest receivable on the Company's marketable securities totaled $2.1 million and $1.3 million as of April 30, 2026 and October 31, 2025, respectively, and was presented within prepaids and other current assets on the Company's condensed consolidated balance sheets. No accrued interest receivable was written off during the three and six months ended April 30, 2026 and 2025.

There were no material realized gains or losses recognized related to available-for-sale securities during the three and six months ended April 30, 2026 and 2025.