Marketable Securities

9 Months Ended

Oct. 31, 2022

Investments, Debt and Equity Securities [Abstract]

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


	As of October 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Commercial paper	$	50,288	$	—	$	—	$	50,288
Treasury bills (1)	107,722		—		(223)		107,499
Corporate bonds	56,701		—		(501)		56,200
Municipal and agency bonds	14,730		—		(192)		14,538
Total marketable securities	$	229,441	$	—	$	(916)	$	228,525
(1) Additional treasury bills with amortized cost of $89.7 million and estimated fair value of $89.6 million are included in cash and cash equivalents due to their original maturities of three months or less.


	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 and agency bonds	9,197		—		(32)		9,165
Total marketable securities	$	116,275	$	—	$	(335)	$	115,940

As of October 31, 2022 and January 31, 2022, respectively $2.9 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 October 31, 2022 and January 31, 2022 are temporary in nature.