v3.20.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:
As of January 31, 2020
Fair ValueLevel 1Level 2Level 3
(in thousands)
Financial Assets:
Money market funds$96,486  $96,486  $—  $—  
Commercial paper4,994  —  4,994  —  
Agency bonds9,999  —  9,999  —  
Cash equivalents111,479  96,486  14,993  —  
Commercial paper37,894  —  37,894  —  
Agency bonds141,163  —  141,163  —  
Corporate and other debt securities321,166  —  321,166  —  
U.S. government agency securities71,837  —  71,837  —  
Marketable securities572,060  —  572,060  —  
Certificate of deposit included in prepaid expenses and other current assets100  —  100  —  
Certificates of deposit included in other assets, noncurrent2,301  —  2,301  —  
Total financial assets$685,940  $96,486  $589,454  $—  

As of January 31, 2019
Fair ValueLevel 1Level 2Level 3
(in thousands)
Financial Assets:
Money market funds$78  $78  $—  $—  
Cash equivalents78  78  —  —  
Commercial paper1,243  —  1,243  —  
Corporate bonds53,214  —  53,214  —  
Agency bonds32,604  —  32,604  —  
U.S. government agency securities24,017  —  24,017  —  
Treasury bills1,699  —  1,699  —  
Marketable securities112,777  —  112,777  —  
Certificate of deposit included in prepaid expenses and other current assets200  —  200  —  
Certificates of deposit included in other assets, noncurrent2,144  —  2,144  —  
Total financial assets$115,199  $78  $115,121  $—  
Financial Liabilities:
Convertible promissory notes – derivative liabilities included in other liabilities, noncurrent$163  $—  $—  $163  
Total financial liabilities$163  $—  $—  $163  
We classify our highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. We classify our commercial paper, corporate bonds, agency bonds, corporate debt securities, U.S. government agency securities, treasury bills, and certificates of deposit within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. We classify the derivative liabilities as Level 3 due to the lack of relevant observable market data over fair value inputs, such as the probability weighting of the various scenarios that can impact settlement of the arrangement.