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Fair Value of Financial Instruments (Tables)
12 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value of Company's Short-Term Investment and Contingent Consideration by Valuation Hierarchy

The following tables present the fair value of the Company’s short-term investments and contingent consideration by valuation hierarchy and input (in thousands):

 

 

 

AS OF SEPTEMBER 30, 2022

 

 

 

Quoted Prices
in Active
Markets for
Identical
Assets
 (Level 1)

 

 

Significant
Other Unobservable
(Level 2)

 

 

Significant
Unobservable
(Level 3)

 

 

Totals

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

 

 

$

894

 

 

$

 

 

$

894

 

Total assets

 

$

 

 

$

894

 

 

$

 

 

$

894

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liabilities

 

$

 

 

$

 

 

$

175

 

 

$

175

 

Total liabilities

 

$

 

 

$

 

 

$

175

 

 

$

175

 

 

 

 

AS OF SEPTEMBER 30, 2021

 

 

 

Quoted Prices
in Active
Markets for
Identical
Assets
 (Level 1)

 

 

Significant Other
Observable
(Level 2)

 

 

Significant
Unobservable
(Level 3)

 

 

Totals

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

 

 

$

9,496

 

 

$

 

 

$

9,496

 

Total assets

 

$

 

 

$

9,496

 

 

$

 

 

$

9,496

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Current portion

 

$

 

 

$

 

 

$

807

 

 

$

807

 

Non-current portion

 

 

 

 

 

 

 

 

5,210

 

 

 

5,210

 

Total liabilities

 

$

 

 

$

 

 

$

6,017

 

 

$

6,017

 

 

Changes in Fair Value of Company Level 3 Financial Instruments

The following table summarizes changes in the fair value of the Company’s Level 3 financial instruments for the fiscal years ended September 30, 2022 and 2021:

 

Contingent Consideration balance at October 1, 2020

 

$

10,962

 

Fair value adjustments

 

 

(3,524

)

Payment of contingent consideration

 

 

(1,421

)

Balance at September 30, 2021

 

 

6,017

 

Fair value adjustments

 

 

(5,035

)

Payment of contingent consideration

 

 

(807

)

Balance at September 30, 2022

 

$

175