| Summary of Cash and Cash Equivalents |
The following table summarizes the Company’s cash and cash equivalents as of April 30, 2017 and April 30, 2016 (in thousands): | | | | | | | | | | April 30,
2017 | | April 30,
2016 | Demand deposit accounts | $ | 46,164 |
| | $ | 38,692 |
| Money market funds | 3,532 |
| | 922 |
| Commercial paper | 2,798 |
| | 4,349 |
| Total cash and cash equivalents | $ | 52,494 |
| | $ | 43,963 |
|
|
| Summary of Short-Term Investments |
The following table summarizes the Company’s short-term investments as of April 30, 2017 (in thousands): | | | | | | | | | | | | | | | | | | Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Available-for-sale securities: | | | | | | | | Certificates of deposit | $ | 1,930 |
| | $ | — |
| | $ | — |
| | $ | 1,930 |
| Commercial paper | 4,206 |
| | — |
| | — |
| | 4,206 |
| U.S. Treasury securities | 8,705 |
| | — |
| | (5 | ) | | 8,700 |
| U.S. government agency debt securities | 16,733 |
| | — |
| | (15 | ) | | 16,718 |
| Corporate debt securities | 7,144 |
| | — |
| | (9 | ) | | 7,135 |
| Total short-term investments | $ | 38,718 |
| | $ | — |
| | $ | (29 | ) | | $ | 38,689 |
|
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 April 30, 2017 and April 30, 2016 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at April 30, 2017 | | 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 | $ | 3,532 |
| | $ | — |
| | $ | — |
| | $ | 3,532 |
| | $ | 922 |
| | $ | — |
| | $ | — |
| | $ | 922 |
| Commercial paper | — |
| | 2,798 |
| | — |
| | 2,798 |
| | — |
| | 4,349 |
| | — |
| | 4,349 |
| Total cash equivalents | 3,532 |
| | 2,798 |
| | — |
| | 6,330 |
| | 922 |
| | 4,349 |
| | — |
| | 5,271 |
| Short-term investments: | | | | | | | | | | | | | | | | Certificates of deposit | — |
| | 1,930 |
| | — |
| | 1,930 |
| | — |
| | 7,089 |
| | — |
| | 7,089 |
| Commercial paper | — |
| | 4,206 |
| | — |
| | 4,206 |
| | — |
| | 4,043 |
| | — |
| | 4,043 |
| U.S. Treasury securities | 8,700 |
| | — |
| | — |
| | 8,700 |
| | 8,764 |
| | — |
| | — |
| | 8,764 |
| U.S. government agency securities | 16,718 |
| | — |
| | — |
| | 16,718 |
| | 24,836 |
| | — |
| | — |
| | 24,836 |
| Corporate securities | — |
| | 7,135 |
| | — |
| | 7,135 |
| | — |
| | 5,950 |
| | — |
| | 5,950 |
| Total short-term investments | 25,418 |
| | 13,271 |
| | — |
| | 38,689 |
| | 33,600 |
| | 17,082 |
| | — |
| | 50,682 |
| Total assets | $ | 28,950 |
| | $ | 16,069 |
| | $ | — |
| | $ | 45,019 |
| | $ | 34,522 |
| | $ | 21,431 |
| | $ | — |
| | $ | 55,953 |
|
|