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Note 4 - Marketable Securities
 9 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

4. Marketable Securities

 

The Company had sales and maturities of marketable securities of $57.9 million and $241.0 million in the three months ended June 30, 2025 and 2024, respectively. The Company had sales and maturities of marketable securities of $242.5 million and $431.5 million in the nine months ended June 30, 2025 and 2024, respectively. There were immaterial realized gains or losses in each of the three and nine months ended June 30, 2025 and 2024 on sales and maturities of marketable securities. 

 

The following is a summary of the amortized cost and the fair value, including accrued interest receivable as well as unrealized gains (losses) on the short-term and long-term marketable securities as of June 30, 2025 and  September 30, 2024 (in thousands):

 

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Gross

  

Gross

  

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Amortized

  

Unrealized

  

Unrealized

  

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Cost

  

Losses

  

Gains

  

Fair Value

 

June 30, 2025:

                

U.S. Treasury securities and obligations of U.S. government agencies

 $255,091  $(140) $42  $254,993 

Bank certificates of deposit

  1,234   —   —   1,234 

Corporate securities

  3,782   —   —   3,782 

Municipal securities

  10,932   —   44   10,976 

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 $271,039  $(140) $86  $270,985 

September 30, 2024:

                

U.S. Treasury securities and obligations of U.S. government agencies

 $118,159  $(119) $51  $118,091 

Bank certificates of deposit

  5,212   (13)  1   5,200 

Corporate securities

  77,580   (255)  —   77,325 

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 $200,951  $(387) $52  $200,616 

 

The amortized cost and fair value of the marketable securities by contractual maturities as of June 30, 2025 are presented below (in thousands):

 

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Amortized

  

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Cost

  

Fair Value

 

Due in one year or less

 $48,834  $48,817 

Due after one year through five years

  218,423   218,386 

Due after ten years

  3,782   3,782 

Total marketable securities

 $271,039  $270,985 

 

Expected maturities could differ from contractual maturities because the security issuers may have the right to prepay obligations without prepayment penalties.

 

Unrealized losses from fixed-income securities are primarily attributable to changes in interest rates. The Company does not believe any unrealized losses represent impairments based on the evaluation of the available evidence.

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