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Fair Value Measurements
 9 Months Ended
Jun. 29, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements
3. Fair Value Measurements
The carrying values of the Company’s financial instruments, including accounts receivable and accounts payable, approximate their fair values due to the short period of time to maturity or repayment. The Company utilizes the following fair value hierarchy to establish priorities of the inputs used to measure fair value:
•Level 1: Quoted prices in active markets for identical assets or liabilities.
•Level 2: Observable inputs other than quoted market prices included in Level 1, such as quoted prices for similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.
The following table summarizes fair value measurements by level for the assets measured at fair value on a recurring basis as of June 29, 2024 and September 30, 2023:
June 29, 2024
Level 1Level 2Level 3Total
(In thousands)
Assets:
Cash equivalents:
Money market funds
$30,289 $— $— $30,289 
U.S. Treasury securities— 1,247 — 1,247 
Total cash equivalents30,289 1,247 31,536 
Marketable Securities:
U.S. Treasury securities— 49,515 — 49,515 
Total marketable securities— 49,515 — 49,515 
Total assets$30,289 $50,762 $— $81,051 
September 30, 2023
Level 1Level 2Level 3Total
(In thousands)
Assets:
Cash equivalents:
Money market funds $51,522 $— $— $51,522 
Total Assets$51,522 $— $— $51,522