Cash Equivalents and Short-Term Investments

6 Months Ended

Jul. 31, 2025

Cash, Cash Equivalents, and Short-Term Investments [Abstract]

Cash Equivalents and Short-Term Investments

The following tables summarize the Company’s cash equivalents and short-term investments (in thousands):


	As of July 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash Equivalents:
Money market funds	$	27,024	$	—	$	—	$	27,024
Total cash equivalents	27,024		—		—		27,024
Short-Term Investments:
U.S. government treasury securities	74,368		32		(25)		74,375
Corporate debt securities	23,746		3		(12)		23,737



Total short-term investments	98,114		35		(37)		98,112
Total	$	125,138	$	35	$	(37)	$	125,136


	As of January 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash Equivalents:
Money market funds	$	15,297	$	—	$	—	$	15,297

Total cash equivalents	15,297		—		—		15,297
Short-Term Investments:
U.S. government treasury securities	82,486		115		(29)		82,572
Corporate debt securities	29,089		42		(12)		29,119
Commercial paper	4,944		—		—		4,944


Total short-term investments	116,519		157		(41)		116,635
Total	$	131,816	$	157	$	(41)	$	131,932

During the three and six months ended July 31, 2025 and 2024, the Company did not reclassify any amounts to earnings from accumulated other comprehensive income (loss) related to unrealized gains or losses in other income, net in the condensed consolidated statements of operations.

As of July 31, 2025, the Company’s short-term investments consisted of $82.2 million and $15.9 million with contractual maturities due within one year and due after one year through two years, respectively. As of January 31, 2025, the Company’s short-term investments consisted of $76.8 million and $39.8 million with contractual maturities due within one year and due after one year through three years, respectively.

The Company’s gross unrealized losses and fair values for short-term investments that were in an unrealized loss position as of July 31, 2025 and January 31, 2025 aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands):


	As of July 31, 2025
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
U.S. government treasury securities	(25)		43,351		—		—		(25)		43,351
Corporate debt securities	$	(12)	$	18,386	$	—	$	—	$	(12)	$	18,386


Total	$	(37)	$	61,737	$	—	$	—	$	(37)	$	61,737


	As of January 31, 2025
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
U.S. government treasury securities	$	(29)	$	22,752	$	—	$	—	$	(29)	$	22,752
Corporate debt securities	(12)		12,577		—		—		(12)		12,577


Total	$	(41)	$	35,329	$	—	$	—	$	(41)	$	35,329

As of July 31, 2025, the Company had 14 short-term investments in an unrealized loss position. As of January 31, 2025, the Company had 7 short-term investments in an unrealized loss position. As of July 31, 2025, the Company determined that the declines in the market value of its investment portfolio were not driven by credit related factors. During the three and six months ended July 31, 2025 and July 31, 2024, there were no credit or non-credit related impairment charges recorded by the Company.