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Supplemental Balance Sheet Information
 6 Months Ended
Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information

5. Supplemental Balance Sheet Information

Investments

The amortized cost, unrealized holding gains and losses, and fair value of available-for-sale securities were as follows:

 

 

 

March 31, 2022

 

 

 

Valuation

 

 

Balance Sheet Classification

 

(In thousands)

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

Current Assets

 

 

Noncurrent Assets

 

Commercial paper and

    corporate bonds

 

$

2,017

 

 

$

—

 

 

$

(10

)

 

$

2,007

 

 

$

2,007

 

 

$

—

 

Total

 

$

2,017

 

 

$

—

 

 

$

(10

)

 

$

2,007

 

 

$

2,007

 

 

$

—

 

 

 

 

September 30, 2021

 

 

 

Valuation

 

 

Balance Sheet Classification

 

(In thousands)

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

Current Assets

 

 

Noncurrent Assets

 

Commercial paper and

    corporate bonds

 

$

9,718

 

 

$

2

 

 

$

(1

)

 

$

9,719

 

 

$

7,717

 

 

$

2,002

 

Total

 

$

9,718

 

 

$

2

 

 

$

(1

)

 

$

9,719

 

 

$

7,717

 

 

$

2,002

 

 

Inventories

Inventories consisted of the following components:

 

 

 

March 31,

 

 

September 30,

 

(In thousands)

 

2022

 

 

2021

 

Raw materials

 

$

5,452

 

 

$

4,165

 

Work-in process

 

 

1,828

 

 

 

1,295

 

Finished products

 

 

2,191

 

 

 

1,300

 

Total

 

$

9,471

 

 

$

6,760

 

 

 

Prepaids and Other Assets, Current

Prepaids and other current assets consisted of the following:

 

 

March 31,

 

 

September 30,

 

(In thousands)

 

2022

 

 

2021

 

Prepaid expenses

 

$

3,213

 

 

$

1,712

 

Irish research and development credits receivable

 

 

1,117

 

 

 

1,164

 

CARES Act employee retention credit receivable

 

 

3,577

 

 

 

3,577

 

Prepaids and other

 

$

7,907

 

 

$

6,453

 

In the fourth quarter of fiscal 2021, a benefit of $3.6 million was recorded to reduce operating costs and expenses as a result of our eligibility for the employee retention credit under the provisions of the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") enacted in March 2020. This $3.6 million benefit and corresponding receivable reflect anticipated reimbursement of personnel expenses we incurred in fiscal 2021 and 2020.

Intangible Assets

Intangible assets consisted of the following:

 

 

March 31, 2022

 

(In thousands)

 

Weighted Average Original Life (Years)

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer lists and relationships

 

 

8.9

 

 

$

12,722

 

 

$

(9,213

)

 

$

3,509

 

Developed technology

 

 

11.9

 

 

 

35,315

 

 

 

(7,067

)

 

 

28,248

 

Patents and other

 

 

14.1

 

 

 

3,551

 

 

 

(2,377

)

 

 

1,174

 

Total definite-lived intangible assets

 

 

 

 

 

 

51,588

 

 

 

(18,657

)

 

 

32,931

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and trade names

 

 

 

 

 

 

580

 

 

 

—

 

 

 

580

 

Total intangible assets

 

 

 

 

 

$

52,168

 

 

$

(18,657

)

 

$

33,511

 

 

 

 

September 30, 2021

 

(In thousands)

 

Weighted Average Original Life (Years)

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer lists and relationships

 

 

8.9

 

 

$

13,216

 

 

$

(8,878

)

 

$

4,338

 

Developed technology

 

 

11.9

 

 

 

36,531

 

 

 

(5,652

)

 

 

30,879

 

Patents and other

 

 

14.1

 

 

 

3,551

 

 

 

(2,294

)

 

 

1,257

 

Total definite-lived intangible assets

 

 

 

 

 

 

53,298

 

 

 

(16,824

)

 

 

36,474

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and trade names

 

 

 

 

 

 

580

 

 

 

—

 

 

 

580

 

Total intangible assets

 

 

 

 

 

$

53,878

 

 

$

(16,824

)

 

$

37,054

 

 

Intangible asset amortization expense was $1.1 million and $0.6 million for the three months ended March 31, 2022 and 2021, respectively, and $2.3 million and $1.3 million for the six months ended March 31, 2022 and 2021, respectively. Based on the intangible assets in service as of March 31, 2022, estimated amortization expense for future fiscal years is as follows:

(In thousands)

 

 

 

 

Remainder of 2022

 

$

2,249

 

2023

 

 

3,932

 

2024

 

 

3,844

 

2025

 

 

3,807

 

2026

 

 

2,893

 

2027

 

 

2,640

 

Thereafter

 

 

13,566

 

Definite-lived intangible assets

 

$

32,931

 

Future amortization amounts presented above are estimates. Actual future amortization expense may be different as a result of future acquisitions, impairments, changes in amortization periods, foreign currency translation rates, or other factors.

Goodwill

Changes in the carrying amount of goodwill by segment were as follows:

 

(In thousands)

 

In Vitro

Diagnostics

 

 

Medical

Device

 

 

Total

 

Goodwill as of September 30, 2021

 

$

8,010

 

 

$

37,596

 

 

$

45,606

 

Currency translation adjustment

 

 

—

 

 

 

(1,358

)

 

 

(1,358

)

Goodwill as of March 31, 2022

 

$

8,010

 

 

$

36,238

 

 

$

44,248

 

 

Other Assets, Noncurrent

Other noncurrent assets consisted of the following:

 

 

March 31,

 

 

September 30,

 

(In thousands)

 

2022

 

 

2021

 

Operating lease right-of-use assets

 

$

3,846

 

 

$

2,435

 

Other

 

 

1,641

 

 

 

1,283

 

Other assets

 

$

5,487

 

 

$

3,718

 

Other noncurrent assets include prepaid expenses related to our ongoing clinical trials and a receivable related to refundable Irish research and development tax credits.

 

Accrued Other Liabilities

Accrued other liabilities consisted of the following:

 

 

March 31,

 

 

September 30,

 

(In thousands)

 

2022

 

 

2021

 

Accrued professional fees

 

$

277

 

 

$

489

 

Accrued clinical study expense

 

 

2,713

 

 

 

1,667

 

Accrued purchases

 

 

1,295

 

 

 

1,195

 

Acquisition of in-process research and development (1)

 

 

966

 

 

 

494

 

Operating lease liability, current portion

 

 

759

 

 

 

518

 

Other

 

 

537

 

 

 

542

 

Total accrued other liabilities

 

$

6,547

 

 

$

4,905

 

 

(1)

Acquisition of in-process research and development consists of the present value of guaranteed payments to be made (current portion) in connection with an asset acquisition in fiscal 2018 (Note 10).

Other Long-term Liabilities

Other long-term liabilities consisted of the following:

 

 

March 31,

 

 

September 30,

 

(In thousands)

 

2022

 

 

2021

 

Deferred consideration (1)

 

$

4,212

 

 

$

5,106

 

Contingent consideration (2)

 

 

823

 

 

 

817

 

Unrecognized tax benefits (3)

 

 

2,422

 

 

 

2,538

 

Operating lease liabilities (4)

 

 

4,303

 

 

 

3,188

 

Other long-term liabilities

 

$

11,760

 

 

$

11,649

 

 

(1)

Deferred consideration consists of the present value of guaranteed payments to be made (noncurrent portion) in connection with the fiscal 2021 Vetex acquisition (Note 11) and with an asset acquisition in fiscal 2018 (Note 10).

 

(2)

Contingent consideration consists of the fair value of contingent consideration liabilities associated with the fiscal 2021 Vetex acquisition (Note 11).

 

(3)

Balance of unrecognized tax benefits (Note 9) includes accrued interest and penalties, if applicable.

 

(4)

Operating lease liabilities consist of the non-current portion of the net present value of future minimum lease payments, reduced by the discounted value of leasehold improvement incentives paid or payable to the Company.