Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Apr. 30, 2017

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