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Financial Instruments
 3 Months Ended
Dec. 28, 2024
Fair Value Disclosures [Abstract]  
Financial Instruments
3. Financial Instruments
The carrying values of the Company’s 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 cash, cash equivalents and marketable securities by investment category as of December 28, 2024 and September 28, 2024:
December 28, 2024
Amortized CostUnrealized GainUnrealized LossEstimated Fair ValueCash and Cash EquivalentsMarketable Securities
Cash$234,980 $— $— $234,980 $234,980 $— 
Level 1:
Money market funds40,881 — — 40,881 40,881 — 
Subtotal40,881 — — 40,881 40,881 — 
Level 2:
U.S. Treasury securities51,959 50 (13)51,996 4,094 47,902 
Subtotal51,959 50 (13)51,996 4,094 47,902 
Total$327,820 $50 $(13)$327,857 $279,955 $47,902 
September 28, 2024
Amortized CostUnrealized GainUnrealized LossEstimated Fair ValueCash and Cash EquivalentsMarketable Securities
Cash$144,184 $— $— $144,184 $144,184 $— 
Level 1:
Money market funds25,548 — — 25,548 25,548 — 
Subtotal25,548 — — 25,548 25,548 — 
Level 2:
U.S. Treasury securities51,304 122 — 51,426 — 51,426 
Subtotal51,304 122 — 51,426 — 51,426 
Total$221,036 $122 $— $221,158 $169,732 $51,426 
Marketable securities
As of December 28, 2024, the Company held no securities with original maturities exceeding one year. Realized gains and losses on the sale of securities are recorded in other income (expense), net in the condensed consolidated statements of operations and comprehensive income.
There were no realized gains or losses on sales of marketable securities during the three months ended December 28, 2024. The Company does not intend to sell the securities, and it is more-likely-than-not that it will not be required to sell before recovery of their amortized cost basis. Accordingly, an allowance for credit losses was deemed unnecessary for these securities as of December 28, 2024.
Accrued interest receivable related to our marketable securities was immaterial as of December 28, 2024. No accrued interest receivables were written off during the three months ended December 28, 2024.