XML 20 R10.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

INVESTMENTS | 9 Months Ended
--- | ---
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | 4. INVESTMENTS The following tables summarize investments by type of security as of June 30, 2024 and September 30, 2023 (amounts in thousands):
June 30, 2024: | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Market Value
Available-for-sale securities: |  |  |  |  |  |  |
U.S. Treasury, short-term | $ | 3,814 |  |  | $ | — |  |  | $ | (24) |  |  | $ | 3,790 |
U.S. Government and agency securities, short-term | 6,722 |  |  | — |  |  | (4) |  |  | 6,718 |
Commercial paper, short-term | 15,723 |  |  | — |  |  | (12) |  |  | 15,711 |
Corporate debt securities, short-term | 12,538 |  |  | — |  |  | (39) |  |  | 12,499 |
U.S. Treasury, long-term | — |  |  | — |  |  | — |  |  | — |
Foreign government and agency securities, long-term | — |  |  | — |  |  | — |  |  | — |
Corporate debt securities, long-term | 10,183 |  |  | — |  |  | (26) |  |  | 10,157 |
Total | $ | 48,980 |  |  | $ | — |  |  | $ | (105) |  |  | $ | 48,875 |
September 30, 2023: | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Market Value
Available-for-sale securities: |  |  |  |  |  |  |
U.S. Treasury, short-term | $ | 40,329 |  |  | $ | 1 |  |  | $ | (76) |  |  | $ | 40,254 |
Corporate debt securities, short-term | 34,545 |  |  | — |  |  | (99) |  |  | 34,446 |
U.S. Treasury, long-term | 1,371 |  |  | — |  |  | (67) |  |  | 1,304 |
Total | $ | 76,245 |  |  | $ | 1 |  |  | $ | (242) |  |  | $ | 76,004 |
All of the Company’s investments are designated as available-for-sale debt securities. As of June 30, 2024 and September 30, 2023, the Company’s short-term investments have maturity dates of less than one year from the balance sheet date and the Company’s long-term investments have maturity dates of greater than one year from the balance sheet date. The contractual maturities of the available-for-sale securities held at June 30, 2024 are as follows: $38.7 million within one year and $10.2 million beyond one year to five years. As of September 30, 2023, the contractual maturities of the available-for-sale securities were $74.7 million within one year and $1.3 million beyond one year to five years. The following tables represent the fair value hierarchy of the Company’s investments and acquisition-related contingent consideration as of June 30, 2024 and September 30, 2023, respectively (amounts in thousands):
June 30, 2024: | 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 | $ | 3,790 |  |  | $ | 3,790 |  |  | $ | — |  |  | $ | — |
Commercial paper | 15,711 |  |  | — |  |  | 15,711 |  |  | — |
U.S. Government and agency securities, short-term | 6,718 |  |  | — |  |  | 6,718 |  |  | — |
Corporate debt securities | 12,499 |  |  | — |  |  | 12,499 |  |  | — |
Total short-term investments at fair value | 38,718 |  |  | 3,790 |  |  | 34,928 |  |  | — |
Long-term investments: |  |  |  |  |  |  |
Corporate debt securities | 10,157 |  |  | — |  |  | 10,157 |  |  | — |
Total long-term investments at fair value | 10,157 |  |  | — |  |  | 10,157 |  |  | — |
Total assets at fair value | $ | 48,875 |  |  | $ | 3,790 |  |  | $ | 45,085 |  |  | $ | — |
September 30, 2023: | 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 | $ | 40,254 |  |  | $ | 40,254 |  |  | $ | — |  |  | $ | — |
Corporate debt securities | 34,446 |  |  | — |  |  | 34,446 |  |  | — |
Total short-term investments at fair value | 74,700 |  |  | 40,254 |  |  | 34,446 |  |  | — |
Long-term investments: |  |  |  |  |  |  |
U.S. Treasury | 1,304 |  |  | 1,304 |  |  | — |  |  | — |
Total long-term investments at fair value | 1,304 |  |  | 1,304 |  |  | — |  |  | — |
Total assets at fair value | $ | 76,004 |  |  | $ | 41,558 |  |  | $ | 34,446 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Acquisition-related contingent consideration | $ | 7,976 |  |  | $ | — |  |  | $ | 7,976 |  |  |
Total liabilities at fair value | $ | 7,976 |  |  | $ | — |  |  | $ | 7,976 |  |  | $ | — |
•Level 1: Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities. •Level 2: Valuation is based on observable market-based inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. As of September 30, 2023, the fair value of acquisition-related contingent consideration for earnout payments associated with the acquisition of ID R&D Inc. was approximately $8.0 million. The earnout payments consisted of cash payments and issuances of Common Stock. At September 30, 2023, the fair value of contingent consideration expected to be settled in a variable number of shares of Common Stock was measured using the most recent closing price of the Company’s common stock on that date, as reported by the Nasdaq Capital Market. As the final earnout payments were known as of September 30, 2023, the inputs used to estimate the fair value of acquisition-related contingent consideration were determined to be Level 2. The contingent consideration was settled during the three months ended December 31, 2023. The following table includes a roll-forward of the contingent consideration liability during the nine months ended June 30, 2024 (amounts in thousands):
Balance at September 30, 2023 | $ | 7,976 |
Expenses recorded due to changes in fair value | 136 |
Cash payment of contingent consideration associated with the ID R&D acquisition | (4,641) |
Issuance of common stock as contingent consideration associated with the ID R&D acquisition | (3,471) |
Balance at June 30, 2024 | $ | — |

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

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration