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Financial Instruments and Fair Value (Tables)
 3 Months Ended
Apr. 30, 2024
Investments, All Other Investments [Abstract]  
Schedule of Available-for-Sale Securities at Fair Value All of the investments are classified as available-for-sale securities and reported at fair value in the condensed consolidated balance sheets as follows:

 

 

 

As of April 30, 2024

 

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

 

 

(in thousands)

 

Money market funds

 

$

4,061

 

 

$

—

 

 

$

—

 

 

$

4,061

 

Commercial paper

 

 

15,781

 

 

 

—

 

 

 

—

 

 

 

15,781

 

Corporate bonds

 

 

42,221

 

 

 

37

 

 

 

(297

)

 

 

41,961

 

Asset-backed securities

 

 

12,309

 

 

 

—

 

 

 

(123

)

 

 

12,186

 

U.S. government securities

 

 

23,189

 

 

 

—

 

 

 

(189

)

 

 

23,000

 

Total cash equivalents and marketable debt securities

 

$

97,561

 

 

$

37

 

 

$

(609

)

 

$

96,989

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of January 31, 2024

 

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

 

 

(in thousands)

 

Money market funds

 

$

296

 

 

$

—

 

 

$

—

 

 

$

296

 

Commercial paper

 

 

30,806

 

 

 

—

 

 

 

—

 

 

 

30,806

 

Corporate bonds

 

 

38,867

 

 

 

180

 

 

 

(135

)

 

 

38,912

 

Asset-backed securities

 

 

15,212

 

 

 

14

 

 

 

(96

)

 

 

15,130

 

U.S. government securities

 

 

21,118

 

 

 

—

 

 

 

(146

)

 

 

20,972

 

Total cash equivalents and marketable debt securities

 

$

106,299

 

 

$

194

 

 

$

(377

)

 

$

106,116

 
Schedule of Available-for-Sale Securities Unrealized Loss Position at Fair Value The following table provides the breakdown of unrealized losses as of April 30, 2024 and January 31, 2024, respectively, aggregated by investment category and length of time that individual securities have been in a continuous loss position:

 

 

 

As of April 30, 2024

 

 

 

Less than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

 

 

 

(in thousands)

 

Corporate bonds

 

$

27,191

 

 

$

(165

)

 

$

7,963

 

 

$

(132

)

 

$

35,154

 

 

$

(297

)

Asset-backed securities

 

 

4,981

 

 

 

(19

)

 

 

7,205

 

 

 

(104

)

 

 

12,186

 

 

 

(123

)

U.S. government securities

 

 

15,357

 

 

 

(97

)

 

 

7,643

 

 

 

(92

)

 

 

23,000

 

 

 

(189

)

Total marketable debt securities at loss position

 

$

47,529

 

 

$

(281

)

 

$

22,811

 

 

$

(328

)

 

$

70,340

 

 

$

(609

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of January 31, 2024

 

 

 

Less than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

 

 

 

(in thousands)

 

Corporate bonds

 

$

9,050

 

 

$

(19

)

 

$

8,363

 

 

$

(116

)

 

$

17,413

 

 

$

(135

)

Asset-backed securities

 

 

4,821

 

 

 

(15

)

 

 

6,289

 

 

 

(81

)

 

 

11,110

 

 

 

(96

)

U.S. government securities

 

 

15,020

 

 

 

(65

)

 

 

5,952

 

 

 

(81

)

 

 

20,972

 

 

 

(146

)

Total marketable debt securities at loss position

 

$

28,891

 

 

$

(99

)

 

$

20,604

 

 

$

(278

)

 

$

49,495

 

 

$

(377

)

Schedule of Cash Equivalents and Marketable Debt Securities

 

 

As of

 

 

 

April 30, 2024

 

 

January 31, 2024

 

 

 

(in thousands)

 

Included in cash equivalents

 

$

25,452

 

 

$

31,103

 

Included in marketable debt securities

 

 

71,537

 

 

 

75,013

 

Total cash equivalents and marketable debt securities

 

$

96,989

 

 

$

106,116

 

 
Summary of Contractual Maturities of Investments

The contractual maturities of the investments at April 30, 2024 and January 31, 2024 were as follows:

 

 

 

As of

 

 

 

April 30, 2024

 

 

January 31, 2024

 

 

 

(in thousands)

 

Due within one year

 

$

54,987

 

 

$

50,216

 

Due in 1 - 5 years

 

 

42,002

 

 

 

55,900

 

Total cash equivalents and marketable debt securities

 

$

96,989

 

 

$

106,116

 
Schedule of Fair Value of Financial Instruments Measured on Recurring Basis

The following tables present the fair value of the financial instruments measured on a recurring basis as of April 30, 2024 and January 31, 2024, respectively:

 

 

 

As of April 30, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Money market funds

 

$

4,061

 

 

$

4,061

 

 

$

—

 

 

$

—

 

Commercial paper

 

 

15,781

 

 

 

—

 

 

 

15,781

 

 

 

—

 

Corporate bonds

 

 

41,961

 

 

 

—

 

 

 

41,961

 

 

 

—

 

Asset-backed securities

 

 

12,186

 

 

 

—

 

 

 

12,186

 

 

 

—

 

U.S. government securities

 

 

23,000

 

 

 

—

 

 

 

23,000

 

 

 

—

 

Total cash equivalents and marketable debt securities

$

96,989

 

 

$

4,061

 

$

92,928

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of January 31, 2024

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Money market funds

$

296

 

 

$

296

 

 

$

—

 

 

$

—

 

Commercial paper

 

 

30,806

 

 

 

—

 

 

 

30,806

 

 

 

—

 

Corporate bonds

 

 

38,912

 

 

 

—

 

 

 

38,912

 

 

 

—

 

Asset-backed securities

 

 

15,130

 

 

 

—

 

 

 

15,130

 

 

 

—

 

U.S. government securities

 

 

20,972

 

 

 

—

 

 

 

20,972

 

 

 

—

 

Total cash equivalents and marketable debt securities

$

106,116

 

 

$

296

 

$

105,820

 

 

$

—