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Investments (Tables) | 12 Months Ended
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Sep. 30, 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 September 30, 2022 and 2021, respectively (amounts in thousands):
September 30, 2022: | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Market Value
Available-for-sale securities: |  |  |  |  |  |  |
U.S. Treasury, short-term | $ | 6,016 |  |  | $ | — |  |  | $ | (134) |  |  | $ | 5,882 |
Foreign government and agency securities, short-term | 2,865 |  |  | — |  |  | (38) |  |  | 2,827 |
Commercial paper, short-term | 18,245 |  |  | — |  |  | (223) |  |  | 18,022 |
Corporate debt securities, short-term | 32,065 |  |  | — |  |  | (528) |  |  | 31,537 |
U.S. Treasury, long-term | 3,431 |  |  | — |  |  | (210) |  |  | 3,221 |
Foreign government and agency securities, long-term | — |  |  | — |  |  | — |  |  | — |
Corporate debt securities, long-term | 7,692 |  |  | — |  |  | (280) |  |  | 7,412 |
Total | $ | 70,314 |  |  | $ | — |  |  | $ | (1,413) |  |  | $ | 68,901 |
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 and acquisition-related contingent consideration as of September 30, 2022 and 2021, respectively (amounts in thousands):
September 30, 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 | $ | 5,882 |  |  | $ | 5,882 |  |  | $ | — |  |  | $ | — |
Commercial paper | 18,022 |  |  | — |  |  | 18,022 |  |  | — |
Foreign government and agency securities | 2,827 |  |  | — |  |  | 2,827 |  |  | — |
Corporate debt securities | 31,537 |  |  | — |  |  | 31,537 |  |  | — |
Total short-term investments at fair value | 58,268 |  |  | 5,882 |  |  | 52,386 |  |  | — |
Long-term investments: |  |  |  |  |  |  |
U.S. Treasury | 3,221 |  |  | 3,221 |  |  | — |  |  | — |
Foreign government and agency securities | — |  |  | — |  |  | — |  |  | — |
Corporate debt securities | 7,412 |  |  | — |  |  | 7,412 |  |  | — |
Total long-term investments at fair value | 10,633 |  |  | 3,221 |  |  | 7,412 |  |  | — |
Convertible senior notes hedge | — |  |  | — |  |  | — |  |  | — |
Total assets at fair value | $ | 68,901 |  |  | $ | 9,103 |  |  | $ | 59,798 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Acquisition-related contingent consideration | $ | 5,920 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,920 |
Non-current liabilities: |  |  |  |  |  |  |
Acquisition-related contingent consideration | — |  |  | — |  |  | — |  |  | — |
Embedded conversion derivative | — |  |  | — |  |  | — |  |  |
Total liabilities at fair value | $ | 5,920 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,920 |
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 |
Schedule of Acquisition-related Contingent Consideration Measured at Fair Value | he following table includes a rollforward of the contingent consideration liability measured at fair value using significant unobservable inputs (Level 3) during the twelve months ended September 30, 2022 (amounts in thousands):
Balance at September 30, 2021 | $ | 16,770 |
Expenses recorded due to changes in fair value | (1,358) |
Payment of contingent consideration associated with the ID R&D acquisition | (9,492) |
Balance at September 30, 2022 | $ | 5,920 |
The following table presents the fair value and the change in fair value for the embedded conversion derivative (amounts shown 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 September 30, 2022 | $ | — |
Summary of Fair Value Measurement Inputs and Valuation Techniques | The following tables summarize the quantitative information including the unobservable inputs related to our acquisition related accrued earnout as of September 30, 2022 and 2021, respectively (amounts in thousands):
| Fair Value at September 30, 2022 |  | Valuation Technique |  | Unobservable Input |  | Input Used
Acquisition-related contingent consideration | $ | 5,920 |  |  | Monte Carlo simulation |  | Weighted-average cost of capital |  | 14.80 | %
|  |  |  | Revenue weight-average cost of capital |  | 4.40 | %
|  |  |  | Revenue volatility |  | 0.20
| Fair Value at September 30, 2021 |  | Valuation Technique |  | Unobservable Input |  | Input Used
Acquisition-related contingent consideration | $ | 16,770 |  |  | Monte Carlo simulation |  | Weighted-average cost of capital |  | 11.40 | %
|  |  |  | Revenue weight-average cost of capital |  | 2.90 | %
|  |  |  | Revenue volatility |  | 0.20

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