Investments (Tables)

3 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments by Type of Security

The following tables summarize investments by type of security as of December 31, 2021 and September 30, 2021, respectively (amounts shown in thousands):

December 31, 2021:	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term	$	7,711	$	—	$	(11)	$	7,700
Asset-backed securities, short-term	4,514		—		(2)		4,512
Corporate debt securities, short-term	125,632		1		(92)		125,541
U.S. Treasury, long-term	7,497		—		(29)		7,468
Foreign government and agency securities, long-term	2,898		—		(11)		2,887
Corporate debt securities, long-term	46,081		—		(181)		45,900
Total	$	194,333	$	1	$	(326)	$	194,008

September 30, 2021:	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term	$	4,222	$	1	$	—	$	4,223
Asset-backed securities, short-term	4,812		1		(2)		4,811
Corporate debt securities, short-term	140,042		6		(25)		140,023
U.S. Treasury, long-term	6,996		1		(2)		6,995
Foreign government and agency securities, long-term	2,909		—		(1)		2,908
Corporate debt securities, long-term	38,184		3		(39)		38,148
Total	$	197,165	$	12	$	(69)	$	197,108

Schedule of Fair Value of Investments Measured on Recurring Basis

The following tables represent the fair value hierarchy of the Company’s investments, convertible senior notes hedge, acquisition-related contingent consideration, and embedded conversion derivative as of December 31, 2021 and September 30, 2021, respectively (amounts shown in thousands):

December 31, 2021:	Balance		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments:
U.S. Treasury	$	7,700	$	7,700	$	—	$	—
Asset-backed securities	4,512		—		4,512		—
Corporate debt securities	125,541		—		125,541		—
Total short-term investments at fair value	137,753		7,700		130,053		—
Long-term investments:
U.S. Treasury	7,468		7,468		—		—
Foreign government and agency securities	2,887		—		2,887		—
Corporate debt securities	45,900		—		45,900		—
Total long-term investments at fair value	56,255		7,468		48,787		—
Convertible senior notes hedge	42,821		—		42,821		—
Total assets at fair value	$	236,829	$	15,168	$	221,661	$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration	$	11,210	$	—	$	—	$	11,210
Non-current liabilities:
Acquisition-related contingent consideration	5,590		—		—		5,590
Embedded conversion derivative	42,821		—		42,821		—
Total liabilities at fair value	$	59,621	$	—	$	42,821	$	16,800

September 30, 2021:	Balance		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments:
U.S. Treasury	$	4,223	$	4,223	$	—	$	—
Asset-backed securities, short-term	4,811		—		4,811		—
Corporate debt securities	140,023		—		140,023		—
Total short-term investments at fair value	149,057		4,223		144,834		—
Long-term investments:
U.S. Treasury	6,995		6,995		—		—
Foreign government and agency securities	2,908		—		2,908		—
Corporate debt securities	38,148		—		38,148		—
Total long-term investments at fair value	48,051		6,995		41,056		—
Convertible senior notes hedge	48,208		$	—	48,208		$	—
Total assets at fair value	$	245,316	$	11,218	$	234,098	$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration	$	11,050	$	—	$	—	$	11,050
Non-current liabilities:
Acquisition-related contingent consideration	5,720		—		—		5,720
Embedded conversion derivative	48,208		—		48,208		—
Total liabilities at fair value	$	64,978	$	—	$	48,208	$	16,770

Schedule of Contingent Consideration Measured at Fair Value

The following table includes a summary of the contingent consideration measured at fair value using significant unobservable inputs (Level 3) during the three months ended December 31, 2021 (amounts shown in thousands):

Balance at September 30, 2021	$	16,770
Expenses recorded due to changes in fair value	30
Balance at December 31, 2021	$	16,800

The following table presents the fair value and the change in fair value for the embedded conversion derivative (in thousands):

Embedded conversion derivative
Fair value as of September 30, 2021	$	48,208
Change in fair value	(5,387)
Fair value as of December 31, 2021	$	42,821