Marketable Securities

3 Months Ended

Apr. 30, 2019

As of April 30, 2019 and January 31, 2019, our marketable securities consisted of the following:

	April 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(in thousands)
Corporate bonds	$	53,717	$	52	$	(30	)	$	53,739
Agency bonds		21,482		5		(29	)		21,458
U.S. government agency securities		32,182		15		(5	)		32,192
Total	$	107,381	$	72	$	(64	)	$	107,389

	January 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(in thousands)
Commercial paper	$	1,243	$	—	$	—		$	1,243
Corporate bonds		53,267		—		(53	)		53,214
Agency bonds		32,675		—		(71	)		32,604
U.S. government agency securities		24,028		—		(11	)		24,017
Treasury bills		1,699		—		—			1,699
Total	$	112,912	$	—	$	(135	)	$	112,777

We review the individual securities that have unrealized losses on a regular basis to evaluate whether or not any security has experienced an other-than-temporary decline in fair value. We evaluate, among other factors, whether we have the intention to sell any of these marketable securities and whether it is more likely than not that we will be required to sell any of them before recovery of the amortized cost basis. Based on the available evidence, we concluded that the gross unrealized losses on the marketable securities as of April 30, 2019 and January 31, 2019, are temporary in nature. There were no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive loss for the three months ended April 30, 2019 and 2018.

The following table presents the contractual maturities of our marketable securities as of April 30, 2019 and January 31, 2019:

	As of
	April 30, 2019		January 31, 2019
	(in thousands)
Less than one year	$	87,589	$	85,077
Due in one to five years		19,800		27,700
Total	$	107,389	$	112,777