XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.23.1

Fair Value Measurements | 6 Months Ended
--- | ---
Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements | 4. Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis by level of the fair value hierarchy were as follows:
| March 31, 2023 |
(In thousands) | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Fair Value |
Assets |  |  |  |  |  |  |  |  |  |  |
Cash equivalents (1) | $ | — |  |  | $ | 15,309 |  |  | $ | — |  |  | $ | 15,309 |
Total assets | $ | — |  |  | $ | 15,309 |  |  | $ | — |  |  | $ | 15,309 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Contingent consideration (2) | $ | — |  |  | $ | — |  |  | $ | 835 |  |  | $ | 835 |
Interest rate swap (3) |  | — |  |  |  | 728 |  |  |  | — |  |  |  | 728 |
Total liabilities | $ | — |  |  | $ | 728 |  |  | $ | 835 |  |  | $ | 1,563 |
| September 30, 2022 |
(In thousands) | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Fair Value |
Assets |  |  |  |  |  |  |  |  |  |  |
Cash equivalents (1) | $ | — |  |  | $ | 2,035 |  |  | $ | — |  |  | $ | 2,035 |
Total assets | $ | — |  |  | $ | 2,035 |  |  | $ | — |  |  | $ | 2,035 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Contingent consideration (2) | $ | — |  |  | $ | — |  |  | $ | 829 |  |  | $ | 829 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 829 |  |  | $ | 829 |
(1) Fair value of cash equivalents (money market funds) is based on quoted vendor prices and broker pricing where all significant inputs are observable. (2) Fair value of contingent consideration liabilities was determined based on discounted cash flow analyses that included probability and timing of development and regulatory milestone achievements and a discount rate, which are considered significant unobservable inputs as of both March 31, 2023 and September 30, 2022. (3) Fair value of interest rate swap is based on forward-looking, one-month term secured overnight financing rate (“Term SOFR”) spot rates and interest rate curves (Note 7). Contingent consideration liabilities are remeasured to fair value each reporting period using discount rates, probabilities of payment and projected payment dates. Increases or decreases in the fair value of the contingent consideration liability can result from changes in the timing or likelihood of achieving milestones and changes in discount periods and rates. Projected contingent payment amounts are discounted back to the current period using a discount cash flow model. Interest accretion and fair value adjustments associated with contingent consideration liabilities are reported in contingent consideration expense (gain) on the condensed consolidated statements of operations. Changes in the contingent consideration liabilities measured at fair value using Level 3 inputs were as follows:
(In thousands) |  |
Contingent consideration liability at September 30, 2022 | $ | 829 |
Additions |  | — |
Fair value adjustments |  | — |
Settlements |  | — |
Interest accretion |  | 6 |
Foreign currency translation |  | — |
Contingent consideration liability at March 31, 2023 | $ | 835 |
Contingent consideration liabilities were associated with the fiscal 2021 acquisition of Vetex Medical Limited ("Vetex") and were included in other long-term liabilities on the condensed consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration