Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Oct. 31, 2016

The following table summarizes the Company’s cash and cash equivalents as of October 31, 2016 and April 30, 2016 (in thousands):



	October 31, 2016		April 30, 2016
Demand deposit accounts	$	34,656	$	38,692
Money market funds	9,421		922
Commercial paper	350		4,349
Total cash and cash equivalents	$	44,427	$	43,963

Summary of Short-Term Investments

The following table summarizes the Company’s short-term investments as of October 31, 2016 (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Certificates of deposit	$	2,470	$	—	$	—		$	2,470
Municipal debt securities	546		—		—			546
Commercial paper	848		—		—			848
U.S. Treasury securities	8,720		—		(11		)	8,709
U.S. government agency debt securities	21,537		7		—			21,544
Corporate debt securities	7,594		—		(7		)	7,587
Total short-term investments	$	41,715	$	7	$	(18	)	$	41,704

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 October 31, 2016 and April 30, 2016 (in thousands):



	Fair Value Measurements at October 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	$	9,421	$	—	$	—	$	9,421	$	922	$	—	$	—	$	922
Commercial paper	—		350		—		350		—		4,349		—		4,349
Total cash equivalents	9,421		350		—		9,771		922		4,349		—		5,271
Short-term investments:
Certificates of deposit	—		2,470		—		2,470		—		7,089		—		7,089
Municipal debt securities	—		546		—		546		—		—		—		—
Commercial paper	—		848		—		848		—		4,043		—		4,043
U.S. Treasury securities	8,709		—		—		8,709		8,764		—		—		8,764
U.S. government agency securities	21,544		—		—		21,544		24,836		—		—		24,836
Corporate securities	—		7,587		—		7,587		—		5,950		—		5,950
Total short-term investments	30,253		11,451		—		41,704		33,600		17,082		—		50,682
Total assets	$	39,674	$	11,801	$	—	$	51,475	$	34,522	$	21,431	$	—	$	55,953