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Marketable Securities
 3 Months Ended
Apr. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities Marketable Securities
The following is a summary of available-for-sale marketable securities, excluding those securities classified within cash and cash equivalents on the condensed consolidated balance sheets:
April 30, 2023
(in thousands)Amortized CostUnrealized GainsUnrealized LossesFair value
Corporate bonds$40,423 $2 $(70)$40,355 
Municipal bonds12,512 — (7)12,505 
U.S. government and agency securities151,657 23 (255)151,425 
Certificates of deposit59,430 6 (101)59,335 
Commercial paper154,764 2 (192)154,574 
Marketable securities$418,786 $33 $(625)$418,194 
January 31, 2023
(in thousands)Amortized CostUnrealized GainsUnrealized LossesFair value
Corporate bonds$39,922 $8 $(68)$39,862 
Municipal bonds12,429 22 — 12,451 
U.S. government and agency securities128,898 6 (367)128,537 
Certificates of deposit59,545 28 (155)59,419 
Commercial paper150,131 41 (202)149,970 
Marketable securities$390,925 $105 $(791)$390,239 
As of April 30, 2023 and January 31, 2023, the maturities of available-for-sale marketable securities did not exceed 12 months.
The following table presents estimated fair value and gross unrealized losses of debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security category. There are no expected credit losses that have been recorded against the Company’s investment securities as of April 30, 2023 and January 31, 2023.
April 30, 2023January 31, 2023
(in thousands)Fair Value
Gross Unrealized Losses (1)
Fair Value
Gross Unrealized Losses (1)
Corporate bonds$40,355 $(70)$39,862 $(68)
Municipal bonds$12,505 $(7)$— $— 
U.S. government and agency securities$151,425 $(255)$128,537 $(367)
Certificates of deposit$59,335 $(101)$59,419 $(155)
Commercial paper$154,574 $(192)$149,970 $(202)
(1) All investments above have been in a continuous unrealized loss position for less than 12 months.
The above table includes 198 securities as of April 30, 2023, where the current fair value is less than the related amortized cost. Unrealized losses on the Company’s debt securities included in the above table are not considered to be credit-related based upon an analysis that considered the extent to which the fair value is less than the amortized basis of a security, adverse conditions specifically related to the security, changes to credit rating of the instrument subsequent to Company purchase, and the strength of the underlying collateral, if any.