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Fair Value of Financial Instruments
 3 Months Ended
Dec. 31, 2025
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments

Note 3: Fair Value of Financial Instruments

 

ASC 820, Fair Value Measurements (“ASC 820”) states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The three-tiered fair value hierarchy, which prioritizes which inputs should be used in measuring fair value, is comprised of: (Level I) observable inputs such as quoted prices in active markets; (Level II) inputs other than quoted prices in active markets that are observable either directly or indirectly and (Level III) unobservable inputs for which there is little or no market data. The fair value hierarchy requires the use of observable market data when available in determining fair value. Our assets and liabilities that were measured at fair value on a recurring basis were as follows:

 

   December 31, 2025   September 30, 2025 
   Fair Value   Level I   Level II   Level III   Fair Value   Level I   Level II   Level III 
U.S. government securities  $17,000   $
-
   $17,000   $
   -
   $17,000   $
-
   $17,000   $
    -
 
Certificates of deposit   39,683    
-
    39,683    
-
    41,308    
-
    41,308    
-
 
Money market funds   5,572    5,572    
-
    
-
    5,518    5,518    
-
    
-
 
Total  $62,255   $5,572   $56,683   $
-
   $63,826   $5,518   $58,308   $
-
 

 

Our U.S. government securities and certificates of deposit are classified within Level II of the fair value hierarchy and the market approach was used to determine fair value of these investments.

 

Our cash, cash equivalents and investments classified by security type as of December 31, 2025 and September 30, 2025 consisted of the following:

 

   December 31, 2025 
   Adjusted
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value   Cash and
Cash
Equivalents		   Short-Term
Investments		 
Cash  $266,239   $
-
   $
          -
   $266,239   $266,239   $
          -
 
U.S. government securities   16,644    356    
-
    17,000    
-
    17,000 
Certificates of deposit and time deposits   39,683    
-
    
-
    39,683    
-
    39,683 
Money market funds   5,572    
-
    
-
    5,572    5,572    
-
 
Total cash, cash equivalents and short-term investments  $328,138   $356   $
-
   $328,494   $271,811   $56,683 
   September 30, 2025 
   Adjusted
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value   Cash and
Cash
Equivalents		   Short-Term
Investments		 
Cash  $188,111   $
-
   $
          -
   $188,111   $188,111   $
          -
 
U.S. government securities   16,607    393    
-
    17,000    
-
    17,000 
Certificates of deposit and time deposits   41,308    
-
    
-
    41,308    
-
    41,308 
Money market funds   5,518    
-
    
-
    5,518    5,518    
-
 
Total cash, cash equivalents and short-term investments  $251,544   $393   $
-
   $251,937   $193,629   $58,308 

 

As of December 31, 2025, all of our short-term investments had contractual maturity dates within one year.

 

Disclosure of Fair Values

 

Our financial instruments that are not re-measured at fair value include accounts receivable, notes receivable, other receivables, accounts payable, accrued expenses, short-term loan and long-term payables. The carrying values of these financial instruments materially approximate their fair values.