Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Oct. 31, 2017

The following table summarizes the Company’s cash and cash equivalents as of October 31, 2017 and April 30, 2017 (in thousands):



	October 31, 2017		April 30, 2017
Demand deposit accounts	$	50,211	$	46,164
Money market funds	178		3,532
Commercial paper	1,399		2,798
U.S. government agency debt securities	200		—
Total cash and cash equivalents	$	51,988	$	52,494

Summary of Short-Term Investments

The following table summarizes the Company’s short-term investments as of October 31, 2017 (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Certificates of deposit	$	2,410	$	—	$	—		$	2,410
Commercial paper	2,268		—		—			2,268
U.S. government agency debt securities	5,248		—		(6		)	5,242
Corporate debt securities	3,307		—		(3		)	3,304
Total short-term investments	$	13,233	$	—	$	(9	)	$	13,224

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

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, 2017 and April 30, 2017 (in thousands):



	Fair Value Measurements at October 31, 2017								Fair Value Measurements at April 30, 2017
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	178	$	—	$	—	$	178	$	3,532	$	—	$	—	$	3,532
Commercial paper	—		1,399		—		1,399		—		2,798		—		2,798
U.S. government agency securities	200		—		—		200		—		—		—		—
Total cash equivalents	378		1,399		—		1,777		3,532		2,798		—		6,330
Short-term investments:
Certificates of deposit	—		2,410		—		2,410		—		1,930		—		1,930
Commercial paper	—		2,268		—		2,268		—		4,206		—		4,206
U.S. Treasury securities	—		—		—		—		8,700		—		—		8,700
U.S. government agency securities	5,242		—		—		5,242		16,718		—		—		16,718
Corporate debt securities	—		3,304		—		3,304		—		7,135		—		7,135
Total short-term investments	5,242		7,982		—		13,224		25,418		13,271		—		38,689
Total assets	$	5,620	$	9,381	$	—	$	15,001	$	28,950	$	16,069	$	—	$	45,019