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Note 6 - Fair Value Measurements
 6 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
 
6.
FAIR VALUE MEASUREMENTS
 
The Company's financial instruments consist principally of cash equivalents, short and long-term marketable securities, accounts receivable and accounts payable. The fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on whether or
not
the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into
three
levels (with Level
3
being the lowest) defined as follows:
 
  Level
1:
 Inputs are based on quoted market prices for identical assets or liabilities in active markets at the measurement date.
   
  Level
2:
 		 Inputs include quoted prices for similar assets or liabilities in active markets and/or quoted prices for identical or similar assets or liabilities in markets that are
not
active near the measurement date.
     
  Level
3:
 Inputs include management's best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument's valuation.
 
The fair value of the Company's cash equivalents and marketable securities was determined based on Level
1
and Level
2
inputs. The Company did
not
have any marketable securities in the Level
3
category as of
March 31, 2021
or
September 30, 2020.
The Company believes that the recorded values of its other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations.
 
Instruments Measured at Fair Value on a Recurring Basis
 
Cash equivalents and marketable securities
: The following tables present the Company's cash equivalents and marketable securities' costs, gross unrealized gains and losses, and fair value by major security type recorded as cash equivalents or short-term or long-term marketable securities as of
March 31, 2021
and
September 30, 2020.
Unrealized gains and losses from the remeasurement of marketable securities are recorded in accumulated other comprehensive income (loss) until recognized in earnings upon the sale or maturity of the security.
 
   
March 31, 2021
  
   
Cost Basis
    
Unrealized Gain
    
Fair Value
    
Cash Equivalents
    
Short-term Securities
    
Long-term Securities
  
Level 1:
                                                
Money Market Funds
   $
538
     $
-
     $
538
     $
538
     $
-
     $
-
  
                                                 
Level 2:
                                                
Certificates of deposit
    
1,193
      
-
      
1,193
      
-
      
251
      
942
  
Municipal securities
    
5,223
      
1
      
5,224
      
-
      
4,161
      
1,063
  
Corporate bonds
    
1,507
      
-
      
1,507
      
-
      
1,062
      
445
  
Subtotal
    
7,923
      
1
      
7,924
      
-
      
5,474
      
2,450
  
                                                 
Total
   $
8,461
     $
1
     $
8,462
     $
538
     $
5,474
     $
2,450
  
 
   
September 30, 2020
  
   
Cost Basis
    
Unrealized Gain
    
Fair Value
    
Cash Equivalents
    
Short-term Securities
    
Long-term Securities
  
Level 1:
                                                
Money Market Funds
   $
365
     $
-
     $
365
     $
365
     $
-
     $
-
  
                                                 
Level 2:
                                                
Certificates of deposit
    
1,195
      
-
      
1,195
      
-
      
-
      
1,195
  
Municipal securities
    
3,777
      
4
      
3,781
      
-
      
2,432
      
1,350
  
Corporate bonds
    
3,091
      
3
      
3,094
      
-
      
1,833
      
1,260
  
Subtotal
    
8,063
      
7
      
8,070
      
-
      
4,265
      
3,805
  
                                                 
Total
   $
8,428
     $
7
     $
8,435
     $
365
     $
4,265
     $
3,805
  
 
Foreign currency forward contract
: In
August 2020,
the Company entered into a foreign currency forward contract as an economic hedge against exposure to changes in the Canadian dollar in connection with the Amika Mobile asset purchase. At
September 30, 2020,
the notional value of the foreign currency forward contract was
CAD$6,955
with a maturity date in
October 2020.
The foreign currency forward contract was classified under Level
2
of the fair value hierarchy. The valuation techniques used to measure the fair value were based on quoted market prices. On
October 1, 2020,
the foreign currency forward contract was settled for
CAD$6,955
(
USD$5,281
), resulting in a realized loss of
$48
on the contract that was recorded in earnings as other income (expense). The foreign currency forward contract liability was recorded in accrued liabilities in the consolidated balance sheet as of
September 30, 2020.