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Investments (Tables)

9 Months Ended

Jun. 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 June 30, 2021 and September 30, 2020, respectively (amounts shown in thousands):

June 30, 2021:			Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term			$	5,240					$	1					$	—					$	5,241
Asset-backed securities, short-term			6,051						1						—						6,052
Corporate debt securities, short-term			127,025						7						(23)						127,009
U.S. Treasury, long-term			4,999						—						(2)						4,997
Foreign government and agency securities, long-term			2,921						—						(2)						2,919
Corporate debt securities, long-term			28,775						—						(48)						28,727
Total			$	175,011					$	9					$	(75)					$	174,945

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, convertible senior notes hedge, acquisition-related contingent consideration, and embedded conversion derivative as of June 30, 2021 and September 30, 2020, respectively (amounts shown in thousands):

June 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			$	5,241					$	5,241					$	—					$	—
Asset-backed securities			6,052						—						6,052						—
Corporate debt securities			61,394						—						61,394						—
Commercial paper			65,615						—						65,615						—
Total short-term investments at fair value			138,302						5,241						133,061						—
Long-term investments:
U.S. Treasury			4,997						4,997						—						—
Foreign government and agency securities			2,919						—						2,919						—
Asset-backed securities			—						—						—						—
Corporate debt securities			28,727						—						28,727						—
Total long-term investments at fair value			36,643						4,997						31,646						—
Convertible senior notes hedge			54,334						—						54,334						—
Total assets at fair value			$	229,279					$	10,238					$	219,041					$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration			$	9,950					$	—					$	—					$	9,950
Non-current liabilities:
Acquisition-related contingent consideration			5,330						—						—						5,330
Embedded conversion derivative			54,334						—						54,334						—
Total liabilities at fair value			$	69,614					$	—					$	54,334					$	15,280

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, short-term			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:
U.S. Treasury			—						—						—						—
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 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 nine months ended June 30, 2021 (amounts shown in thousands):

Balance at September 30, 2020			$	753
Contingent consideration associated with ID R&D Acquisition			15,280
Foreign currency effect on contingent consideration			29
Payment of contingent consideration			(782)
Balance at June 30, 2021			$	15,280

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			1,527
Fair value as of March 31, 2021			34,719
Change in fair value			19,615
Fair value as of June 30, 2021			$	54,334

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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.

+ References

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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