Short-Term Investments

6 Months Ended

Jul. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Short-term investments consisted of the following:


	July 31, 2022
	(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury Securities	$	282,577	$	—	$	(1,303)	$	283,880
	$	282,577	$	—	$	(1,303)	$	283,880

The amortized cost and fair value amounts include accrued interest receivable of $0.8 million as of July 31, 2022. There were no short-term investments as of January 31, 2022.

The U.S. treasury securities are debt securities stated on the condensed consolidated statement of balance sheet at fair value based upon inputs other than quoted prices in active markets (Level 2 inputs). The Company recorded unrealized losses of $1.3 million as a component of other comprehensive loss for the three and six months ended July 31, 2022. The Company did not recognize any gains or losses for the three and six months ended July 31, 2022.

As of July 31, 2022, all of the available-for-sale debt securities were in a continuous unrealized loss position for less than 12 months. During the three and six months ended July 31, 2022, the Company did not recognize credit-related impairment losses and had no ending allowance for credit losses. The decline in fair value below amortized cost basis was not considered other than temporary as it is more likely than not the Company will hold the debt securities until maturity or a recovery of the cost basis.

As of July 31, 2022, all of the marketable debt securities have contractual maturities of less than one year.