v3.25.1
Fair Value Measurements (Tables)
3 Months Ended
Apr. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes our financial assets that are measured at fair value on a recurring basis:
April 30, 2025
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$265,049 $— $— $265,049 
Level 2:
Cash equivalents(1)
Commercial paper5,186 — (1)5,185 
Available-for-sale securities
Commercial paper17,124 (9)17,118 
Corporate notes and bonds406,674 615 (210)407,079 
U.S. governmental securities27,250 — (15)27,235 
Level 2 total456,234 618 (235)456,617 
Total$721,283 $618 $(235)$721,666 
January 31, 2025
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$183,885 $— $— $183,885 
Level 2:
Available-for-sale securities
Commercial paper31,367 12 (8)31,371 
Corporate notes and bonds399,034 522 (378)399,178 
U.S. governmental securities18,500 (21)18,480 
Level 2 total448,901 535 (407)449,029 
Total$632,786 $535 $(407)$632,914 
(1) Included in “cash and cash equivalents” in our consolidated balance sheets as of April 30, 2025 and January 31, 2025, in addition to cash of $387.2 million and $464.7 million.
Schedule of Fair Value of Available-for-sale Marketable Securities by Remaining Contractual Maturities
The fair values of our available-for-sale securities as of April 30, 2025, by remaining contractual maturities, were as follows (in thousands):
Due in one year or less$291,293 
Due in one to two years160,139 
$451,432