| Fair Value of Financial Instruments Measured at Fair Value on a Recurring Basis |
The following table sets forth our financial instruments that were measured at fair value on a recurring basis at the periods indicated below, by level within the fair value hierarchy (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | January 31, 2026 | | Level 1 | | Level 2 | | Level 3 | | Total | Financial assets: | | | | | | | | | Cash equivalents | | | | | | | | | Money market funds | $ | 39,538 | | | $ | — | | | $ | — | | | $ | 39,538 | | | U.S. government securities | 3,000 | | | — | | | — | | | 3,000 | | | Total cash equivalents | 42,538 | | | — | | | — | | | 42,538 | | | | | | | | | | | Marketable securities | | | | | | | | | U.S. government securities | 189,238 | | | — | | | — | | | 189,238 | | | Corporate debt securities | — | | | 98,342 | | | — | | | 98,342 | | | Total marketable securities | 189,238 | | | 98,342 | | | — | | | 287,580 | | | | | | | | | | | Derivative Instruments | | | | | | | | | Cash flow hedges | — | | | 409 | | | — | | | 409 | | | Total financial assets | $ | 231,776 | | | $ | 98,751 | | | $ | — | | | $ | 330,527 | | | | | | | | | | Liabilities: | | | | | | | | | Derivative Instruments | | | | | | | | | Cash flow hedges | $ | — | | | $ | (25) | | | $ | — | | | $ | (25) | | Total liabilities | $ | — | | | $ | (25) | | | $ | — | | | $ | (25) | |
| | | | | | | | | | | | | | | | | | | | | | | | | January 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | Financial assets: | | | | | | | | | Cash equivalents | | | | | | | | | Money market funds | $ | 20,487 | | | $ | — | | | $ | — | | | $ | 20,487 | | | U.S. government securities | 4,998 | | | — | | | — | | | 4,998 | | | Total cash equivalents | 25,485 | | | — | | | — | | | 25,485 | | | | | | | | | | | Marketable securities | | | | | | | | | U.S. government securities | $ | 317,649 | | | $ | — | | | $ | — | | | $ | 317,649 | | | Corporate debt securities | — | | | 112,808 | | | — | | | 112,808 | | | Total marketable securities | 317,649 | | | 112,808 | | | — | | | 430,457 | | | Total financial assets | $ | 343,134 | | | $ | 112,808 | | | $ | — | | | $ | 455,942 | |
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| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
The following table summarizes the fair value changes in the contingent consideration liability in connection with the acquisition of North Star Y, Pty Ltd (in thousands):
| | | | | | | | | | | | | Fiscal Years Ended January 31, | | 2026 | | 2025 | | Beginning fair value | $ | — | | | $ | 223 | | Additions (1) / (adjustments) in the period | — | | | (223) | | | Ending fair value | $ | — | | | $ | — | |
(1) Includes measurement period adjustments related to the Company’s preliminary fair values of the assets acquired and liabilities assumed in business combinations, which did not have a material impact on goodwill.
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