Investments (Tables)
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3 Months Ended |
Dec. 31, 2022 |
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| Investments, Debt and Equity Securities [Abstract] |
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| 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 | |
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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 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 | |
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| 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 | |
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| 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 |
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