v3.20.2
Fair Value Measurements and Marketable Securities (Tables)
 6 Months Ended
Jul. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of company's fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis
The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows:
July 31, 2020January 31, 2020
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
(in thousands)(in thousands)
Assets
Cash equivalents (1)
Money market funds$— $— $— $— $205,379 $— $— $205,379 
Corporate debt securities— — — — — 39,940 — 39,940 
Total cash equivalents— — — — 205,379 39,940 — 245,319 
Marketable securities
Corporate debt securities— — — — — 495,022 — 495,022 
U.S. treasury securities— — — — 84,431 — — 84,431 
Asset backed securities— — — — — 67,813 67,813 
Total marketable securities— — — — 84,431 562,835 — 647,266 
Total assets$— $— $— $— $289,810 $602,775 $— $892,585 
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(1)Included in “Cash and cash equivalents” on the condensed consolidated balance sheets.
Schedule of marketable securities
The following table presents the contractual maturities of marketable securities as of January 31, 2020:
Amortized costFair value
(in thousands)
Due in one year or less$377,722 $378,408 
Due after one year through five years266,670 267,728 
Due after five years through nineteen years1,127 1,130 
$645,519 $647,266 
Summary of changes in strategic investments
The following summarizes the changes in strategic investments:
July 31,January 31,
20202020
(in thousands)
Total initial cost$2,000 $1,000 
Cumulative gain— — 
Carrying value$2,000 $1,000 
Summary of changes in the redeemable convertible preferred stock warrant liability
The following summarizes the changes in the redeemable convertible preferred stock warrant liability, which is classified as a Level 3 instrument:
Three Months Ended July 31,Six Months Ended July 31,
2020201920202019
(in thousands)(in thousands)
Balance at beginning of period$— $5,704 $— $4,537 
Adjustment resulting from change in fair value recognized in the condensed consolidated statement of operations— 4,855 — 6,022 
Reclassification of liability for redeemable convertible preferred stock warrants to additional paid-in capital upon initial public offering— (10,559)— (10,559)
Balance at end of period$— $— $— $—