Quantitative and Qualitative Disclosures about Market Risk
−Removed: As of April 30, 2022 and January 31, 2022, we had cash and cash equivalents totaling $200.6 million and $171.0 million, respectively.
−Removed: Our cash is deposited in checking accounts with reputable financial institutions and is held for working capital purposes.
+Added: As of July 31, 2022 and January 31, 2022, we had cash, cash equivalents and marketable debt securities totaling $197.9 million and $171.0 million, respectively.
+Added: Our cash is deposited in checking accounts with reputable financial institutions.
+Added: The cash equivalents and marketable debt securities consist primarily of investments in money market funds and debt securities of corporations .
+Added: Our cash is held for working capital purposes.
+Added: We do not enter into investments for trading or speculative purposes.
+Added: Interest Rate Fluctuation Risk
+Added: The primary objectives of our investment activities are to preserve capital, provide liquidity and maximize income without significantly increasing risk.
+Added: Some of the securities we invest in are subject to market risk.
+Added: This means that a change in prevailing interest rates may affect the interest income on our cash, cash equivalents and marketable debt securities, and the market value of those securities .
+Added: To minimize this risk, we maintain our portfolio in a variety of debt securities with high liquidity and low credit risk.
+Added: We do not enter into investments for trading or speculative purposes.
+Added: A 10% change in interest rates will not have a material impact on our future interest income or investment fair value.
+Added: The liquidity risk and the risk associated with fluctuating interest rates are limited to our investment portfolio.
Foreign Currency Risk
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.