Investments (Tables)

3 Months Ended

Dec. 31, 2022

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, 2022 and September 30, 2022 (amounts in thousands):

December 31, 2022:	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term	$	4,010	$	—	$	(89)	$	3,921
Foreign government and agency securities, short-term	2,854		—		(12)		2,842
Commercial paper, short-term	15,680		—		(251)		15,429
Corporate debt securities, short-term	22,849		—		(227)		22,622
U.S. Treasury, long-term	3,420		—		(196)		3,224
Corporate debt securities, long-term	2,586		—		(136)		2,450
Total	$	51,399	$	—	$	(911)	$	50,488

September 30, 2022:	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term	$	6,016	$	—	$	(134)	$	5,882
Foreign government and agency securities, short-term	2,865		—		(38)		$	2,827
Commercial paper, short-term	18,245		—		(223)		18,022
Corporate debt securities, short-term	32,065		—		(528)		31,537
U.S. Treasury, long-term	3,431		—		(210)		3,221
Corporate debt securities, long-term	7,692		—		(280)		7,412
Total	$	70,314	$	—	$	(1,413)	$	68,901

Schedule of Fair Value of Investments Measured on Recurring Basis

The following tables represent the fair value hierarchy of the Company’s investments and acquisition-related contingent consideration as of December 31, 2022 and September 30, 2022, respectively (amounts in thousands):

December 31, 2022:	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	$	3,921	$	3,921	$	—	$	—
Commercial paper	15,429		—		15,429		—
Foreign government and agency securities	2,842		—		2,842		—
Corporate debt securities	22,622		—		22,622		—
Total short-term investments at fair value	44,814		3,921		40,893		—
Long-term investments:
U.S. Treasury	3,224		3,224		—		—
Corporate debt securities	2,450		—		2,450		—
Total long-term investments at fair value	5,674		3,224		2,450		—
Total assets at fair value	$	50,488	$	7,145	$	43,343	$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration	$	6,250	$	—	$	—	$	6,250
Total liabilities at fair value	$	6,250	$	—	$	—	$	6,250

September 30, 2022:	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	$	5,882	$	5,882	$	—	$	—
Commercial paper	18,022		—		18,022		—
Foreign government and agency securities	2,827		—		2,827		—
Corporate debt securities	31,537		—		31,537		—
Total short-term investments at fair value	58,268		5,882		52,386		—
Long-term investments:
U.S. Treasury	3,221		3,221		—		—
Corporate debt securities	7,412		—		7,412		—
Total long-term investments at fair value	10,633		3,221		7,412		—
Total assets at fair value	$	68,901	$	9,103	$	59,798	$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration	$	5,920	$	—	$	—	$	5,920
Total liabilities at fair value	$	5,920	$	—	$	—	$	5,920

Schedule of Contingent Consideration Measured at Fair Value

The following table includes a rollforward of the contingent consideration liability measured at fair value using significant unobservable inputs (Level 3) during the three months ended December 31, 2022 (amounts in thousands):

Balance at September 30, 2022	$	5,920
Expenses recorded due to changes in fair value	330
Balance at December 31, 2022	$	6,250

Fair Value Measurement Inputs and Valuation Techniques

The following tables summarize the quantitative information including the unobservable inputs related to our acquisition related accrued earnout as of December 31, 2022 and September 30, 2022, respectively (amounts in thousands):

	Fair Value at December 31, 2022		Valuation Technique	Unobservable Input	Input Used
Acquisition-related contingent consideration	$	6,250	Monte Carlo simulation	Weighted-average cost of capital	14.30	%
				Revenue weight-average cost of capital	4.40	%
				Revenue volatility	0.20