Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements

v3.23.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements
3.
Fair Value Measurements

The Company accounts for certain financial assets at fair value on a recurring basis. As of January 31, 2022, the Company had no cash equivalents or marketable securities.

The following table presents information about the Company's financial assets that are measured at fair value as of January 31, 2023, and indicate the level within the fair value hierarchy where each measurement is classified.

 

 

As of January 31, 2023

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(Amounts in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

2,389

 

 

$

2,389

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

1,244

 

 

 

1,244

 

 

 

—

 

 

 

—

 

 

 

$

3,633

 

 

$

3,633

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents at January 31, 2023 consisted of $2.4 million of U.S. Treasury Securities with a maturity date of three months or less. During the years ended January 31, 2023 and 2022, no assets were transferred between the fair value hierarchy categories. The Company had no liabilities measured at fair value on a recurring basis at January 31, 2023 and 2022.

The following table summarizes the Company’s investments in marketable securities, classified as available-for-sale as of January 31, 2023:

 

As of January 31, 2023

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Loss

 

 

Fair Value

 

 

 

(Amounts in thousands)

 

Corporate bonds

 

 

1,269

 

 

 

(25

)

 

 

1,244

 

 

 

$

1,269

 

 

$

(25

)

 

$

1,244

 

The amortized cost and fair values of the above referenced debt and fixed-maturity securities as of January 31, 2023 are shown by contractual maturity in the table below. Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

Amortized
Cost

 

 

Fair
Value

 

 

 

(Amounts in thousands)

 

Due within one year through three years

 

$

3,176

 

 

$

3,182

 

Due after three years through five years

 

 

482

 

 

 

451

 

Due after five years

 

 

—

 

 

 

—

 

 

 

$

3,658

 

 

$

3,633