XML 25 R13.htm IDEA: XBRL DOCUMENT v3.24.0.1
Cash Equivalents and Marketable Securities
 9 Months Ended
Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Marketable Securities Cash Equivalents and Marketable Securities
The following table summarizes the Company’s cash equivalents and available-for-sale marketable securities (in thousands):
As of January 31, 2024As of April 30, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Cash equivalents:
Money market funds$78,747 $— $— $78,747 $75,293 $— $— $75,293 
Certificates of deposit3,500 — — 3,500 2,000 — — 2,000 
Commercial paper8,925 — — 8,925 112,851 — — 112,851 
Corporate debt securities1,893 — — 1,893 — — — — 
Available-for-sale marketable securities:
U.S. treasury securities7,454 1 — 7,455 27,445 1 (49)27,397 
Certificates of deposit65,514 — — 65,514 61,025 — — 61,025 
U.S. government agencies securities57,629 147 (13)57,763 75,650 111 (87)75,674 
Commercial paper161,222 — — 161,222 184,230 — — 184,230 
Corporate debt securities316,512 450 (155)316,807 179,608 115 (476)179,247 
Total cash equivalents and available-for-sale marketable securities$701,396 $598 $(168)$701,826 $718,102 $227 $(612)$717,717 
The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the Condensed Consolidated Balance Sheet as of January 31, 2024.
The following table summarizes the Company’s available-for-sale marketable securities by contractual maturity (in thousands):
As of January 31, 2024As of April 30, 2023
Amortized CostFair ValueAmortized CostFair Value
Within one year$518,581 $518,683 $446,629 $446,155 
After one year through five years89,750 90,078 81,329 81,418 
Total$608,331 $608,761 $527,958 $527,573 
The following table summarizes the fair values and unrealized losses of the Company’s available-for-sale marketable securities classified by length of time that the securities have been in a continuous unrealized loss position but were not deemed to be other-than-temporarily impaired, as of January 31, 2024 (in thousands):
As of January 31, 2024
Less Than 12 Months12 Months or GreaterTotal
Unrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesFair Value
U.S. government agencies securities$(9)$17,968 $(4)$2,362 $(13)$20,330 
Commercial paper— 5,953 — — — 5,953 
Corporate debt securities(133)120,053 (22)10,710 (155)130,763 
Total$(142)$143,974 $(26)$13,072 $(168)$157,046 
As of January 31, 2024, the Company had 130 marketable securities in an unrealized loss position. As of April 30, 2023, the Company had 119 marketable securities that were in an unrealized loss position. The Company considers factors such as the duration, the magnitude and the reason for the decline in value, the potential recovery period, creditworthiness of the issuers of the securities and its intent to sell. For marketable securities, it also considers whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by the Company. Based on the Company’s review of these securities, including the assessment of the duration and severity of the unrealized losses and the Company’s ability and intent to hold the marketable securities until maturity, there were no other-than-temporary impairments for these marketable securities at January 31, 2024.