Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Jul. 31, 2016

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