Cash Equivalents and Short-Term Investments

The amortized costs, unrealized gains and losses and estimated fair values of the Company’s cash equivalents and short-term investments as of July 31, 2017 and January 31, 2017 were as follows (in thousands):



	As of July 31, 2017
	(unaudited)
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	$	95,495	$	—	$	—		$	95,495
Commercial paper	15,020		—		—			15,020
U.S. treasury securities	4,996		—		—			4,996
Total cash equivalents	$	115,511	$	—	$	—		$	115,511
Investments:
Commercial paper	18,913		—		—			18,913
U.S. treasury securities	45,083		1		(3		)	45,081
Corporate debt securities	22,771		1		(11		)	22,761
Total short-term investments	$	86,767	$	2	$	(14	)	$	86,755
Total	$	202,278	$	2	$	(14	)	$	202,266



	As of January 31, 2017
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
Cash equivalents:
Money market funds	$	10,565	$	—	$	—		$	10,565
Investments:
Asset-backed securities	1,538		—		—			1,538
Corporate debt securities	12,842		13		(3		)	12,852
Total short-term investments	$	14,380	$	13	$	(3	)	$	14,390
Total	$	24,945	$	13	$	(3	)	$	24,955

All short-term investments were designated as available-for-sale securities as of July 31, 2017 and January 31, 2017.

The Company had 15 and five short-term investments in unrealized loss positions as of July 31, 2017 and January 31, 2017, respectively. There were no material gross unrealized gains or losses from available-for-sale securities and no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three and six months ended July 31, 2017 or 2016.

For available-for-sale debt securities that have unrealized losses, the Company evaluates whether (i) it has the intention to sell any of these investments and (ii) whether it is not more likely than not that it will be required to sell any of these available-for-sale debt securities before recovery of the entire amortized cost basis. Based on this evaluation, the Company determined that there were no other-than-temporary impairments associated with short-term investments as of July 31, 2017 and January 31, 2017.

The following tables present the contractual maturities of the Company’s short-term investments as of July 31, 2017 and January 31, 2017 (in thousands):



	As of July 31, 2017
	(unaudited)
	Amortized Cost		Estimated Fair Value
Due within one year	$	58,288	$	58,276
Due between one to five years	28,479		28,479
	$	86,767	$	86,755



	As of January 31, 2017
	Amortized Cost		Estimated Fair Value
Due within one year	$	12,842	$	12,852
Due between one to five years	1,538		1,538
	$	14,380	$	14,390