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Investments (Tables)

6 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments by Type of Security

The following tables summarize investments by type of security as of March 31, 2022 and September 30, 2021 (amounts shown in thousands):

March 31, 2022:			Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Market Value
Available-for-sale securities:
U.S. Treasury, short-term			$	2,000					$	—					$	(20)					$	1,980
Foreign government and agency securities, short-term			2,888						—						(38)						2,850
Corporate debt securities, short-term			33,446						—						(366)						33,080
U.S. Treasury, long-term			7,481						—						(215)						7,266
Corporate debt securities, long-term			24,743						—						(516)						24,227
Total			$	70,558					$	—					$	(1,155)					$	69,403

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

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 March 31, 2022 and September 30, 2021, respectively (amounts shown in thousands):

March 31, 2022:			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			$	1,980					$	1,980					$	—					$	—
Foreign government and agency securities			2,850						—						2,850						—
Corporate debt securities			33,080						—						33,080						—
Total short-term investments at fair value			37,910						1,980						35,930						—
Long-term investments:
U.S. Treasury			7,266						7,266						—						—
Corporate debt securities			24,227						—						24,227						—
Total long-term investments at fair value			31,493						7,266						24,227						—
Total assets at fair value			$	69,403					$	9,246					$	60,157					$	—
Liabilities:
Current liabilities:
Acquisition-related contingent consideration			$	10,790					$	—					$	—					$	10,790
Non-current liabilities:
Acquisition-related contingent consideration			5,200						—						—						5,200
Total liabilities at fair value			$	15,990					$	—					$	—					$	15,990

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, short-term			4,811						—						4,811						—
Corporate debt securities			140,023						—						140,023						—
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

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 six months ended March 31, 2022 (amounts shown in thousands):

Balance at September 30, 2021			$	16,770
Expenses recorded due to changes in fair value			(780)
Balance at March 31, 2022			$	15,990

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 September 30, 2021			$	48,208
Remeasurement to fair value on March 3, 2022			(19,692)
Impact of increase of authorized shares of common stock on convertible senior notes hedge			(28,516)
Fair value as of March 31, 2022			$	—

The remeasurement of the embedded conversion derivative to fair value on March 3, 2022 was offset by the remeasurement of the Notes Hedge. See details of the remeasurement of the Notes Hedge below.

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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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-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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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
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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