Fair Value Measurements

6 Months Ended

Jul. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 3: Fair Value Measurements

The Company estimates and categorizes fair value by applying the following hierarchy:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Observable prices based on inputs not quoted in active markets, but are corroborated by market data.

Level 3: Unobservable inputs that are supported by little or no market activity.

Financial assets measured at fair value on a recurring basis by level were as follows (in thousands):

	Balance as of July 31, 2022
	Level 1		Level 2		Total
Cash and cash equivalents:
Money market funds	$	6,609	$	—	$	6,609
U.S. treasury securities		1,001		—		1,001
Total cash equivalents	$	7,610	$	—		7,610
Cash						8,582
Total cash and cash equivalents					$	16,192
Short-term investments:
U.S. treasury securities	$	2,462	$	—	$	2,462
Corporate debt securities		—		3,815		3,815
Total short-term investments	$	2,462	$	3,815	$	6,277
	Balance as of January 31, 2022
	Level 1			Level 2		Total
Cash and cash equivalents:
Money market funds	$	2,275	$	—	$	2,275
Total cash equivalents	$	2,275	$	—		2,275
Cash						17,392
Total cash and cash equivalents					$	19,667
Short-term investments:
U.S. treasury securities	$	7,065	$	—	$	7,065
Commercial paper		—		4,548		4,548
Total short-term investments	$	7,065	$	4,548	$	11,613

The Company classifies its cash equivalents and short-term investments within Level 1 or Level 2 because it uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. The Company has no Level 3 assets or liabilities. For the periods presented, the amortized cost of cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate.

Contractual maturities of short-term investments were as follows (in thousands):

	As of
		July 31, 2022	January 31, 2022
Due in one year or less	$	5,793	$	10,377
Due after one year to two years		484		1,236
Total	$	6,277	$	11,613