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Fair Value Measurements | 6 Months Ended
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Jul. 31, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements The Company accounts for certain of its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1: Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying amounts reflected on the condensed consolidated balance sheets for cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short maturities of those instruments. The following tables present the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis (in thousands):
| As of July 31, 2022
Level 1 |  | Level 2 |  | Total
Cash Equivalents |  |  |  |  |
Money market funds | $ | 42,090 |  |  | $ | — |  |  | $ | 42,090 |
Total cash equivalents | 42,090 |  |  | — |  |  | 42,090 |
Short-Term Investments |  |  |  |  |
U.S. government treasury securities | — |  |  | 91,826 |  |  | 91,826 |
Corporate debt securities | — |  |  | 27,354 |  |  | 27,354 |
Commercial paper | — |  |  | 23,647 |  |  | 23,647 |
Asset-backed securities | — |  |  | 2,940 |  |  | 2,940 |
Total short-term investments | — |  |  | 145,767 |  |  | 145,767 |
Total | $ | 42,090 |  |  | $ | 145,767 |  |  | $ | 187,857 |
| As of January 31, 2022
Level 1 |  | Level 2 |  | Total
Cash Equivalents |  |  |  |  |
Money market funds | $ | 86,505 |  |  | $ | — |  |  | $ | 86,505 |
Total cash equivalents | 86,505 |  |  | — |  |  | 86,505 |
Short-Term Investments |  |  |  |  |
U.S. government treasury securities | — |  |  | 39,211 |  |  | 39,211 |
Corporate debt securities | — |  |  | 30,090 |  |  | 30,090 |
Commercial paper | — |  |  | 40,965 |  |  | 40,965 |
Total short-term investments | — |  |  | 110,266 |  |  | 110,266 |
Total | $ | 86,505 |  |  | $ | 110,266 |  |  | $ | 196,771 |
The Company classifies its money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its asset-backed securities, commercial paper, U.S. government securities, and corporate debt securities within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded.

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- References No definition available. + Details
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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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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