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Fair value measurements
3 Months Ended
Apr. 30, 2020
Fair Value Disclosures [Abstract]  
Fair value measurements Fair value measurements
The carrying value of the Company’s short-term financial instruments, including accounts receivable and accounts payable approximate fair value due to the short-term nature of these instruments.
 The Company uses certain derivative financial instruments as part of its risk management strategy to reduce its foreign currency risk. The Company recognizes all derivatives on the balance sheet at fair value based on quotes obtained from financial institutions. The fair value of its foreign currency contracts as of April 30, 2020 was a liability of $603, which is included in accrued expenses on the accompanying balance sheet. The fair value of its foreign currency contracts as of January 31, 2020 was an asset of $58, which is included in prepaid and other current assets on the accompanying balance sheet. The fair value of the foreign currency contracts are considered Level 2 in the fair value hierarchy as of April 30, 2020 and January 31, 2020, respectively.
As the Company refinanced all of its debt on February 28, 2019 (See Note 6) and again on May 5, 2020 (See Note 16), it believes that the face value of its outstanding debt at April 30, 2020 and January 31, 2020 approximates fair value.
The Company did not have any transfers of assets and liabilities between levels of the fair value measurement hierarchy during the three months ended April 30, 2020 and 2019.
The Company’s cash and cash equivalents includes money market funds of $62,492 which is measured at fair value. The Company consider these investments within Level 1 of the fair value hierarchy.