Fair Value Measurements and Marketable Securities (Tables)

12 Months Ended

Jan. 31, 2021

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:


	January 31, 2021								January 31, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

	(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 consolidated balance sheets.

The following summarizes the changes in strategic investments:

There was no unrealized gain and loss included as an adjustment to the carrying value related to non-marketable securities as of January 31, 2021.

The following summarizes the changes in the redeemable convertible preferred stock warrant liability, which is classified as a Level 3 instrument:


	Year Ended January 31
	2021		2020		2019

	(in thousands)
Balance at beginning of period	$	—	$	4,537	$	961

Adjustment resulting from change in fair value recognized in the consolidated statement of operations	—		6,022		3,576
Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon IPO	—		(10,559)		—
Balance at end of period	$	—	$	—	$	4,537