| Summary of Cash and Cash Equivalents |
The following table summarizes the Company’s cash and cash equivalents as of July 31, 2016 and April 30, 2016 (in thousands): | | | | | | | | | | July 31,
2016 | | April 30,
2016 | Demand deposit accounts | $ | 37,110 |
| | $ | 38,692 |
| Money market funds | 4,149 |
| | 922 |
| Commercial paper | 2,249 |
| | 4,349 |
| Total cash and cash equivalents | $ | 43,508 |
| | $ | 43,963 |
|
|
| Summary of Short-Term Investments |
The following table summarizes the Company’s short-term investments as of July 31, 2016 (in thousands): | | | | | | | | | | | | | | | | | | Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Available-for-sale securities: | | | | | | | | Certificates of deposit | $ | 4,640 |
| | $ | — |
| | $ | — |
| | $ | 4,640 |
| Commercial paper | 2,248 |
| | — |
| | — |
| | 2,248 |
| U.S. Treasury securities | 8,727 |
| | — |
| | (15 | ) | | 8,712 |
| U.S. government agency debt securities | 25,508 |
| | 11 |
| | (1 | ) | | 25,518 |
| Corporate debt securities | 7,186 |
| | 1 |
| | (7 | ) | | 7,180 |
| Total short-term investments | $ | 48,309 |
| | $ | 12 |
| | $ | (23 | ) | | $ | 48,298 |
|
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 |
|
|
| 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 July 31, 2016 and April 30, 2016 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at July 31, 2016 | | Fair Value Measurements at April 30, 2016 | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | | | | | | | | | Cash equivalents: | | | | | | | | | | | | | | | | Money market funds | $ | 4,149 |
| | $ | — |
| | $ | — |
| | $ | 4,149 |
| | $ | 922 |
| | $ | — |
| | $ | — |
| | $ | 922 |
| Commercial paper | — |
| | 2,249 |
| | — |
| | 2,249 |
| | — |
| | 4,349 |
| | — |
| | 4,349 |
| Total cash equivalents | 4,149 |
| | 2,249 |
| | — |
| | 6,398 |
| | 922 |
| | 4,349 |
| | — |
| | 5,271 |
| Short-term investments: | | | | | | | | | | | | | | | | Certificates of deposit | — |
| | 4,640 |
| | — |
| | 4,640 |
| | — |
| | 7,089 |
| | — |
| | 7,089 |
| Commercial paper | — |
| | 2,248 |
| | — |
| | 2,248 |
| | — |
| | 4,043 |
| | — |
| | 4,043 |
| U.S. Treasury securities | 8,712 |
| | — |
| | — |
| | 8,712 |
| | 8,764 |
| | — |
| | — |
| | 8,764 |
| U.S. government agency securities | 25,518 |
| | — |
| | — |
| | 25,518 |
| | 24,836 |
| | — |
| | — |
| | 24,836 |
| Corporate securities | — |
| | 7,180 |
| | — |
| | 7,180 |
| | — |
| | 5,950 |
| | — |
| | 5,950 |
| Total short-term investments | 34,230 |
| | 14,068 |
| | — |
| | 48,298 |
| | 33,600 |
| | 17,082 |
| | — |
| | 50,682 |
| Total assets | $ | 38,379 |
| | $ | 16,317 |
| | $ | — |
| | $ | 54,696 |
| | $ | 34,522 |
| | $ | 21,431 |
| | $ | — |
| | $ | 55,953 |
|
|