Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis at January 31, 2022 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents: (1)
Money market funds	$	233,705	$	—	$	—	$	233,705
Marketable securities:
U.S. treasury securities	—		223,032		—		223,032
Other investments:
Non-marketable debt investments	—		—		6,434		6,434
Total assets	$	233,705	$	223,032	$	6,434	$	463,171

(1)Included in cash and cash equivalents.

The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis at January 31, 2021 (in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents: (1)
Money market funds	$	90,437	$	—	$	—	$	90,437
Marketable securities:
U.S. treasury securities	—		268,169		—		268,169
Corporate notes and bonds	—		14,587		—		14,587
Certificates of deposit	—		280		—		280
Total assets	$	90,437	$	283,036	$	—	$	373,473
Derivative liabilities:(2)
Foreign currency forward contracts not designated as hedges	$	—	$	47	$	—	$	47
Total liabilities	$	—	$	47	$	—	$	47

(1)    Included in cash and cash equivalents.

(2)The derivative liabilities were related to foreign currency forward contracts at a notional amount of $2.9 million. The derivative liabilities were included in accrued expenses and other current liabilities on the Company’s consolidated balance sheets at January 31, 2021. The foreign currency forward contracts matured during the three months ended April 30, 2021 and were not renewed.