Short-Term Investments

9 Months Ended

Oct. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Short-term investments consisted of the following:


	October 31, 2022
	(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury Securities	$	207,498	$	—	$	(1,389)	$	208,887
	$	207,498	$	—	$	(1,389)	$	208,887

The amortized cost and fair value amounts include accrued interest receivable of $0.6 million as of October 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 balance sheets at fair value based upon inputs other than quoted prices in active markets (Level 2 inputs). The Company recorded $0.1 million and $1.4 million unrealized losses as a component of other comprehensive loss for the three and nine months ended October 31, 2022, respectively. The Company did not recognize any gains or losses for the three and nine months ended October 31, 2021.

As of October 31, 2022, all of the available-for-sale debt securities were in a continuous unrealized loss position for less than twelve months. During the three and nine months ended October 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 October 31, 2022, all of the marketable debt securities have contractual maturities of less than one year.