v3.5.0.1

Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Apr. 30, 2016

Fair Value Disclosures [Abstract]

Summary of Cash and Cash Equivalents

The following table summarizes the Company’s cash and cash equivalents as of April 30, 2016 and April 30, 2015 (in thousands):

	April 30, 2016				April 30, 2015
Demand deposit accounts	$	38,692			$	49,977
Money market funds	922				2,831
Municipal debt securities	—				102
Commercial paper	4,349				875
Corporate debt securities	—				256
Total cash and cash equivalents	$	43,963			$	54,041

Summary of Short-Term Investments

The following table summarizes the Company’s short-term investments as of April 30, 2016 (in thousands):

	Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available-for-sale securities:
Certificates of deposit	$	7,090			$	—			$	(1	)		$	7,089
Commercial paper	4,043				—				—				4,043
U.S. Treasury securities	8,764				—				—				8,764
U.S. government agency debt securities	24,841				4				(9		)		24,836
Corporate debt securities	5,954				1				(5		)		5,950
Total short-term investments	$	50,692			$	5			$	(15	)		$	50,682

The following table summarizes the Company’s short-term investments as of April 30, 2015 (in thousands):

	Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available-for-sale securities:
Certificates of deposit	$	4,000			$	4			$	—			$	4,004
Municipal debt securities	4,564				17				(16		)		4,565
Commercial paper	6,269				4				—				6,273
U.S. Treasury securities	11,814				—				(11		)		11,803
U.S. government agency debt securities	17,007				1				(3		)		17,005
Corporate debt securities	9,104				4				(28		)		9,080
Total short-term investments	$	52,758			$	30			$	(58	)		$	52,730

Contractual Maturities of Available-for-Sale Debt Securities

Contractual maturities of available-for-sale securities at April 30, 2016, were as follows (in thousands):

	Estimated Fair Value
Due in one year or less	$	48,953
Due in 1-2 years	1,729
Total investments in debt securities	$	50,682

Summary of Fair Value of Financial Assets and Liabilities

The following table summarizes the fair value of the Company’s financial assets and liabilities that were measured on a recurring basis as of April 30, 2016 and April 30, 2015 (in thousands):

	Fair Value Measurements at April 30, 2016																Fair Value Measurements at April 30, 2015
	Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Assets:
Cash equivalents:
Money market funds	$	922			$	—			$	—			$	922			$	2,831			$	—			$	—			$	2,831
Municipal bonds	—				—				—				—				—				102				—				102
Commercial paper	—				4,349				—				4,349				—				875				—				875
Corporate securities	—				—				—				—				—				256				—				256
Total cash equivalents	922				4,349				—				5,271				2,831				1,233				—				4,064
Short-term investments:
Certificates of deposit	—				7,089				—				7,089				—				4,004				—				4,004
Municipal bonds	—				—				—				—				—				4,565				—				4,565
Commercial paper	—				4,043				—				4,043				—				6,273				—				6,273
U.S. Treasury securities	8,764				—				—				8,764				11,803				—				—				11,803
U.S. government agency securities	24,836				—				—				24,836				17,005				—				—				17,005
Corporate securities	—				5,950				—				5,950				—				9,080				—				9,080
Total short-term investments	33,600				17,082				—				50,682				28,808				23,922				—				52,730
Total assets	$	34,522			$	21,431			$	—			$	55,953			$	31,639			$	25,155			$	—			$	56,794

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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