Marketable Securities

6 Months Ended

Jul. 31, 2022

Investments, Debt and Equity Securities [Abstract]

The following is a summary of our marketable securities (in thousands):


	As of July 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Commercial paper	$	27,244	$	—	$	—	$	27,244
Corporate bonds	70,607		—		(534)		70,073
Municipal bonds	19,369		—		(102)		19,267
Total marketable securities	$	117,220	$	—	$	(636)	$	116,584


	As of January 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Commercial paper	$	15,343	$	—	$	—	$	15,343
Corporate bonds	91,735		—		(303)		91,432
Municipal bonds	9,197		—		(32)		9,165
Total marketable securities	$	116,275	$	—	$	(335)	$	115,940

As of July 31, 2022 and January 31, 2022, respectively $2.4 million and $19.5 million of our marketable securities had remaining contractual maturities of one year or more, and the remainder had contractual maturities of less than one year. To determine whether any decline in the fair value of our marketable securities is other-than temporary, we evaluate, among other factors, the duration and extent to which the fair value has been less than the carrying value and our intent and ability to retain the marketable securities for a period of time sufficient to allow for any anticipated recovery in fair value. Based on available evidence, we concluded that the gross unrealized losses on our marketable securities as of July 31, 2022 and January 31, 2022 are temporary in nature.