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Investments (Tables)

12 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments by Type of Security

The following tables summarize investments by type of security as of September 30, 2021 and 2020, respectively (amounts shown in thousands):

September 30, 2021:			Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term			$	4,222					$	1					$	—					$	4,223
Asset-backed securities, short-term			4,812						1						(2)						4,811
Corporate debt securities, short-term			140,042						6						(25)						140,023
U.S. Treasury, long-term			6,996						1						(2)						6,995
Foreign government and agency securities, long-term			2,909						—						(1)						2,908
Corporate debt securities, long-term			38,184						3						(39)						38,148
Total			$	197,165					$	12					$	(69)					$	197,108

 

September 30, 2020:			Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term			$	10,245					$	38					$	—					$	10,283
Asset-backed securities, short-term			4,723						36						—						4,759
Corporate debt securities, short-term			24,956						37						—						24,993
Corporate debt securities, long-term			1,966						—						(3)						1,963
Total			$	41,890					$	111					$	(3)					$	41,998

Schedule of Fair Value of Investments Measured on Recurring Basis

The following tables represent the fair value hierarchy of the Company’s investments and acquisition-related contingent consideration as of September 30, 2021 and 2020, respectively (amounts shown in thousands):

September 30, 2021:			Balance						Quoted Prices in Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments:
U.S. Treasury			$	4,223					$	4,223					$	—					$	—
Asset-backed securities			4,811						—						4,811						—
Corporate debt securities			65,666						—						65,666						—
Commercial paper			74,357						—						74,357						—
Total short-term investments at fair value			149,057						4,223						144,834						—
Long-term investments:
U.S. Treasury			6,995						6,995						—						—
Foreign government and agency securities			2,908						—						2,908						—
Corporate debt securities			38,148						—						38,148						—
Total long-term investments at fair value			48,051						6,995						41,056						—
Convertible senior notes hedge			48,208						—						48,208						—
Total assets at fair value			$	245,316					$	11,218					$	234,098					$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration			$	11,050					$	—					$	—					$	11,050
Non-current liabilities:
Acquisition-related contingent consideration			5,720						—						—						5,720
Embedded conversion derivative			48,208						—						48,208						—
Total liabilities at fair value			$	64,978					$	—					$	48,208					$	16,770

September 30, 2020:			Balance						Quoted Prices in Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Short-term investments:
U.S. Treasury			$	10,283					$	10,283					$	—					$	—
Asset-backed securities			4,759						—						4,759						—
Corporate debt securities			9,619						—						9,619						—
Commercial paper			15,374						—						15,374						—
Total short-term investments at fair value			40,035						10,283						29,752						—
Long-term investments:
Corporate debt securities			1,963						—						1,963						—
Total long-term investments at fair value			1,963						—						1,963						—
Total assets at fair value			$	41,998					$	10,283					$	31,715					$	—
Liabilities:
Acquisition-related contingent consideration			$	753					$	—					$	—					$	753
Total liabilities at fair value			$	753					$	—					$	—					$	753

Schedule of Acquisition-related Contingent Consideration Measured at Fair Value

The following table includes a summary of the contingent consideration measured at fair value using significant unobservable inputs (Level 3) during the twelve months ended September 30, 2021 (amounts shown in thousands): 

Balance at September 30, 2020			$	753
Contingent consideration associated with ID R&D Acquisition			15,690
Expenses recorded due to changes in fair value			1,080
Payment of contingent consideration associated with the ICAR acquisition			(782)
Foreign currency effect on contingent consideration			29
Balance at September 30, 2021			$	16,770

The following table presents the fair value and the change in fair value for the embedded conversion derivative (in thousands):

Embedded conversion derivative
Fair value as of February 5, 2021			$	33,192
Change in fair value			15,016
Fair value as of September 30, 2021			$	48,208

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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