Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement

v3.22.1
Fair Value Measurement
3 Months Ended
Apr. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The following tables present the fair value hierarchy of our financial assets measured at fair value on a recurring basis as of April 30, 2022 and January 31, 2022 (in thousands): 
  As of April 30, 2022
  Level 1 Level 2 Total
Financial assets:      
Money market $ 1,050,171  $ —  $ 1,050,171 
Total cash equivalents 1,050,171  —  1,050,171 
Commercial paper —  15,359  15,359 
Corporate bonds —  93,610  93,610 
Municipal bonds —  13,144  13,144 
Total marketable securities —  122,113  122,113 
Total $ 1,050,171  $ 122,113  $ 1,172,284 
  As of January 31, 2022
  Level 1 Level 2 Total
Financial assets:      
Money market $ 1,056,555  $ —  $ 1,056,555 
Total cash equivalents 1,056,555  —  1,056,555 
Commercial paper —  15,343  15,343 
Corporate bonds —  91,432  91,432 
Municipal bonds —  9,165  9,165 
Total marketable securities —  115,940  115,940 
Total $ 1,056,555  $ 115,940  $ 1,172,495 
Our money market funds are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. We classify commercial paper, corporate bonds, and municipal bonds within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. None of our financial instruments were classified in the Level 3 category as of April 30, 2022 or January 31, 2022.