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 | |
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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 | |
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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 | |
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