| Fair Value Measurements |
Note 3: Fair Value Measurements
The Company records its financial assets and liabilities at fair value. The Company estimates and categorizes fair value by applying the following hierarchy:
|
Level 1: |
Quoted prices (unadjusted) for identical assets or liabilities in active markets. |
|
Level 2: |
Observable prices based on inputs not quoted in active markets, but are corroborated by market data. |
|
Level 3: |
Unobservable inputs that are supported by little or no market activity. |
Financial assets measured at fair value on a recurring basis by level were as follows (in thousands):
|
|
|
Balance as of October 31, 2021 |
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Total |
|
|
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
2,314 |
|
|
$ |
— |
|
|
$ |
2,314 |
|
|
Total cash equivalents |
|
$ |
2,314 |
|
|
$ |
— |
|
|
$ |
2,314 |
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
17,126 |
|
|
Total cash and cash equivalents |
|
|
|
|
|
|
$ |
19,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
$ |
6,798 |
|
|
$ |
— |
|
|
$ |
6,798 |
|
|
Commercial paper |
|
|
— |
|
|
|
4,799 |
|
|
|
4,799 |
|
|
Total short-term investments |
|
$ |
6,798 |
|
|
$ |
4,799 |
|
|
$ |
11,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of January 31, 2021 |
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Total |
|
|
Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
1,657 |
|
|
$ |
— |
|
|
$ |
1,657 |
|
|
U.S. agency securities |
|
|
— |
|
|
|
1,000 |
|
|
|
1,000 |
|
|
U.S. treasury securities |
|
|
250 |
|
|
|
— |
|
|
|
250 |
|
|
Total cash equivalents |
|
$ |
1,907 |
|
|
$ |
1,000 |
|
|
$ |
2,907 |
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
14,391 |
|
|
Total cash and cash equivalents |
|
|
|
|
|
|
$ |
17,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
$ |
9,782 |
|
|
$ |
— |
|
|
$ |
9,782 |
|
|
Corporate debt securities |
|
|
— |
|
|
|
929 |
|
|
|
929 |
|
|
Asset-backed securities |
|
|
— |
|
|
|
302 |
|
|
|
302 |
|
|
Total short-term investments |
|
$ |
9,782 |
|
|
$ |
1,231 |
|
|
$ |
11,013 |
|
The Company classifies its cash equivalents and short-term investments within Level 1 or Level 2 because it uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. The Company has no Level 3 assets or liabilities. For the periods presented, the amortized cost of cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate.
Contractual maturities of short-term investments were as follows (in thousands):
|
|
|
|
|
As of |
|
|
|
|
|
|
October 31,
2021 |
|
|
January 31,
2021 |
|
|
Due in one year or less |
|
|
|
$ |
9,604 |
|
|
$ |
11,013 |
|
|
Due after one year to two years |
|
|
|
|
1,993 |
|
|
|
— |
|
|
Total |
|
|
|
$ |
11,597 |
|
|
$ |
11,013 |
|
|