Short-Term Investments

3 Months Ended

Apr. 30, 2023

Investments, Debt and Equity Securities [Abstract]

4. Short-Term Investments

The following tables summarize the fair values of the Company’s short-term investments (in thousands):


	Three Months Ended April 30, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. treasury securities	$	182,660	$	44	$	(226)	$	182,478
U.S. agency obligations	46,327		134		(10)		46,451
Corporate notes and bonds	51,464		43		(49)		51,458
Commercial paper	28,992		—		—		28,992
Certificates of deposit	13,016		—		—		13,016
Total short-term investments	$	322,459	$	221	$	(285)	$	322,395

As of April 30, 2023, available-for-sale short-term investments had a fair value of $322.4 million.

The Company does not intend to sell these investments and it is more likely than not that the Company will hold these short-term investments until maturity or a recovery of the cost basis. The Company determined that the decline in fair value of short-term investments was not due to credit-related factors, and no allowance for expected credit losses was recorded as of April 30, 2023. Realized gains and losses were not material for the three months ended April 30, 2023.

The following table summarizes the contractual maturities of the Company’s short-term investments (in thousands):


	April 30, 2023
	Amortized Cost		Fair Value
Due within one year	$	270,424	$	270,353
Due after one year through three years	52,035		52,042
Total	$	322,459	$	322,395