Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.23.1
Fair Value Measurements
 3 Months Ended
Apr. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements
4.
Fair Value Measurements

The Company accounts for certain financial assets at fair value on a recurring basis. The following table presents information about the Company’s financial assets that are measured at fair value as of April 30, 2023 and January 31, 2023, and indicate the level within the fair value hierarchy where each measurement is classified.

 

 

As of April 30, 2023

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(Amounts in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

2,399

 

 

$

2,399

 

 

$

—

 

 

$

—

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

1,409

 

 

 

1,409

 

 

 

—

 

 

 

—

 

 

 

$

3,808

 

 

$

3,808

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 April 30, 2023 and January 31, 2023 consisted of $2.4 million, in each period presented, of U.S. Treasury Securities with a maturity date of three months or less, respectively. During the periods presented above, no assets were transferred between the fair value hierarchy categories. The Company had no liabilities measured at fair value on a recurring basis at April 30, 2023 or January 31, 2023.

The following table summarizes the Company’s investments in marketable securities, classified as available-for-sale as of April 30, 2023 and January 31, 2023:

 

As of April 30, 2023

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Loss

 

 

Fair Value

 

 

 

(Amounts in thousands)

 

Corporate bonds

 

 

1,444

 

 

 

(35

)

 

 

1,409

 

 

 

$

1,444

 

 

$

(35

)

 

$

1,409

 

 

 

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 April 30, 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

 

$

3,360

 

 

$

3,358

 

Due after three years through five years

 

 

483

 

 

 

450

 

Due after five years

 

 

—

 

 

 

—

 

 

 

$

3,843

 

 

$

3,808