Financial Instruments and Fair Value (Tables)
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3 Months Ended |
Apr. 30, 2025 |
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| Investments, All Other Investments [Abstract] |
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| Schedule of Available-for-Sale Securities at Fair Value |
All of the investments are classified as available-for-sale securities and reported at fair value in the condensed consolidated balance sheets as follows:
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As of April 30, 2025 |
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Amortized Cost |
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Unrealized Gains |
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Unrealized Losses |
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Fair Value |
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(in thousands) |
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Money market funds |
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$ |
189 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
189 |
|
Fixed deposits |
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|
— |
|
|
|
— |
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|
|
— |
|
|
|
— |
|
Corporate bonds |
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|
62,210 |
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|
267 |
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|
|
(34 |
) |
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|
62,443 |
|
Asset-backed securities |
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|
21,288 |
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|
50 |
|
|
|
(50 |
) |
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|
21,288 |
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U.S. government securities |
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|
34,278 |
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|
127 |
|
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|
(34 |
) |
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|
34,371 |
|
Total cash equivalents and marketable debt securities |
|
$ |
117,965 |
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|
$ |
444 |
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|
$ |
(118 |
) |
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$ |
118,291 |
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As of January 31, 2025 |
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Amortized Cost |
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Unrealized Gains |
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Unrealized Losses |
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Fair Value |
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(in thousands) |
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Money market funds |
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$ |
849 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
849 |
|
Fixed deposits |
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|
3,000 |
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|
|
— |
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|
|
— |
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|
|
3,000 |
|
Corporate bonds |
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|
55,138 |
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|
111 |
|
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|
(123 |
) |
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|
55,126 |
|
Asset-backed securities |
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20,412 |
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20 |
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(67 |
) |
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20,365 |
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U.S. government securities |
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30,326 |
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8 |
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(182 |
) |
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|
30,152 |
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Total cash equivalents and marketable debt securities |
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$ |
109,725 |
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|
$ |
139 |
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|
$ |
(372 |
) |
|
$ |
109,492 |
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| Schedule of Available-for-Sale Securities Unrealized Loss Position at Fair Value |
The following table provides the breakdown of unrealized losses as of April 30, 2025 and January 31, 2025, respectively, aggregated by investment category and length of time that individual securities have been in a continuous loss position:
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As of April 30, 2025 |
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Less than 12 Months |
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12 Months or Greater |
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Total |
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Fair Value |
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Unrealized Losses |
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Fair Value |
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Unrealized Losses |
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Fair Value |
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Unrealized Losses |
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(in thousands) |
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Corporate bonds |
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$ |
9,927 |
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|
$ |
(31 |
) |
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$ |
1,901 |
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|
$ |
(3 |
) |
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$ |
11,828 |
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|
$ |
(34 |
) |
Asset-backed securities |
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|
5,415 |
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(41 |
) |
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|
3,535 |
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(9 |
) |
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8,950 |
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|
(50 |
) |
U.S. government securities |
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|
17,388 |
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(31 |
) |
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|
1,816 |
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(3 |
) |
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19,204 |
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|
(34 |
) |
Total marketable debt securities at loss position |
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$ |
32,730 |
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|
$ |
(103 |
) |
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$ |
7,252 |
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|
$ |
(15 |
) |
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$ |
39,982 |
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|
$ |
(118 |
) |
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As of January 31, 2025 |
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Less than 12 Months |
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12 Months or Greater |
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Total |
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Fair Value |
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Unrealized Losses |
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|
Fair Value |
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Unrealized Losses |
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Fair Value |
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Unrealized Losses |
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(in thousands) |
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Corporate bonds |
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$ |
23,200 |
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|
$ |
(116 |
) |
|
$ |
2,144 |
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|
$ |
(7 |
) |
|
$ |
25,344 |
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|
$ |
(123 |
) |
Asset-backed securities |
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|
8,052 |
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(51 |
) |
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4,343 |
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(16 |
) |
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12,395 |
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|
(67 |
) |
U.S. government securities |
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|
20,380 |
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|
(169 |
) |
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|
4,809 |
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(13 |
) |
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25,189 |
|
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|
(182 |
) |
Total marketable debt securities at loss position |
|
$ |
51,632 |
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|
$ |
(336 |
) |
|
$ |
11,296 |
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|
$ |
(36 |
) |
|
$ |
62,928 |
|
|
$ |
(372 |
) |
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| Schedule of Cash Equivalents and Marketable Debt Securities |
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As of |
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April 30, 2025 |
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January 31, 2025 |
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(in thousands) |
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Included in cash equivalents |
|
$ |
189 |
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|
$ |
3,849 |
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Included in marketable debt securities |
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|
118,102 |
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|
105,643 |
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Total cash equivalents and marketable debt securities |
|
$ |
118,291 |
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|
$ |
109,492 |
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|
| Summary of Contractual Maturities of Investments |
The contractual maturities of the investments at April 30, 2025 and January 31, 2025 were as follows:
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As of |
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April 30, 2025 |
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January 31, 2025 |
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(in thousands) |
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Due within one year |
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$ |
26,378 |
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$ |
35,405 |
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Due in 1 - 5 years |
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|
91,913 |
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|
74,087 |
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Total cash equivalents and marketable debt securities |
|
$ |
118,291 |
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|
$ |
109,492 |
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|
| Schedule of Fair Value of Financial Instruments Measured on Recurring Basis |
The following tables present the fair value of the financial instruments measured on a recurring basis as of April 30, 2025 and January 31, 2025, respectively:
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As of April 30, 2025 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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(in thousands) |
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Money market funds |
|
$ |
189 |
|
|
$ |
189 |
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|
$ |
— |
|
|
$ |
— |
|
Fixed deposits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Corporate bonds |
|
|
62,443 |
|
|
|
— |
|
|
|
62,443 |
|
|
|
— |
|
Asset-backed securities |
|
|
21,288 |
|
|
|
— |
|
|
|
21,288 |
|
|
|
— |
|
U.S. government securities |
|
|
34,371 |
|
|
|
— |
|
|
|
34,371 |
|
|
|
— |
|
Total cash equivalents and marketable debt securities |
|
$ |
118,291 |
|
|
$ |
189 |
|
|
$ |
118,102 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
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|
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|
As of January 31, 2025 |
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Total |
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|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
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(in thousands) |
|
Money market funds |
|
$ |
849 |
|
|
$ |
849 |
|
|
$ |
— |
|
|
$ |
— |
|
Fixed deposits |
|
|
3,000 |
|
|
|
3,000 |
|
|
|
— |
|
|
|
— |
|
Corporate bonds |
|
|
55,126 |
|
|
|
— |
|
|
|
55,126 |
|
|
|
— |
|
Asset-backed securities |
|
|
20,365 |
|
|
|
— |
|
|
|
20,365 |
|
|
|
— |
|
U.S. government securities |
|
|
30,152 |
|
|
|
— |
|
|
|
30,152 |
|
|
|
— |
|
Total cash equivalents and marketable debt securities |
|
$ |
109,492 |
|
|
$ |
3,849 |
|
|
$ |
105,643 |
|
|
$ |
— |
|
|