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Fair value measurement (Tables)
9 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Debt Securities, Available-for-Sale
The following table sets forth the cash and cash equivalents, short-term and equity investments as of June 30, 2023:

(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Cash and cash equivalents$307,459 $— $— $307,459 
Short-term investments:
Corporate bonds26,133 (68)26,070 
U.S. government treasury bills23,721 (106)23,616 
Equity investments$3,711 $— $— $3,711 
Total$361,024 $$(174)$360,856 
The following table sets forth the cash and cash equivalents, and short-term investments as of September 30, 2022:
(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Cash and cash equivalents$378,687 $— $— $378,687 
Short-term investments:
Commercial paper14,997 — — 14,997 
U.S. government treasury bills112,878 — (1,594)111,284 
Total$506,562 $— $(1,594)$504,968 
Schedule of Cash and Cash Equivalents The following table provides a reconciliation of the Company’s cash and cash equivalents and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows:
(in thousands)June 30,
2023
September 30,
2022
Cash and cash equivalents$307,459 $378,687 
Restricted cash, non-current4,379 1,572 
Total cash, cash equivalents and restricted cash$311,838 $380,259 
The following table sets forth the cash and cash equivalents, short-term and equity investments as of June 30, 2023:

(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Cash and cash equivalents$307,459 $— $— $307,459 
Short-term investments:
Corporate bonds26,133 (68)26,070 
U.S. government treasury bills23,721 (106)23,616 
Equity investments$3,711 $— $— $3,711 
Total$361,024 $$(174)$360,856 
The following table sets forth the cash and cash equivalents, and short-term investments as of September 30, 2022:
(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Cash and cash equivalents$378,687 $— $— $378,687 
Short-term investments:
Commercial paper14,997 — — 14,997 
U.S. government treasury bills112,878 — (1,594)111,284 
Total$506,562 $— $(1,594)$504,968 
Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis As of June 30, 2023, financial assets and liabilities measured and recognized at fair value are as follows:
(in thousands)Level 1Level 2Level 3Fair value
Assets    
Money market funds$242,107 $— $— $242,107 
Corporate bonds— 26,070 — 26,070 
U.S. government treasury bills23,616 — — 23,616 
Equity investments — — 3,711 3,711 
Total financial assets$265,723 $26,070 $3,711 $295,504 

As of September 30, 2022, financial assets and liabilities measured and recognized at fair value are as follows:

(in thousands)Level 1Level 2Level 3Fair value
Assets    
Money market funds$316,805 $— $— $316,805 
Commercial paper— 14,997— 14,997
U.S. government treasury bills111,284— — 111,284
Total financial assets$428,089 $14,997 $— $443,086 
Liabilities
Contingent consideration and indemnity holdback$— $9,592 $2,100 $11,692 
Total financial liabilities$— $9,592 $2,100 $11,692 
Fair Value Measurement Inputs and Valuation Techniques
The key inputs into the Monte Carlo simulation as of September 30, 2022 were as follows:
Contingent considerationSeptember 30, 2022
Stock Price$35.24 
Equity volatility93.7 %
Risk-free interest rate3.9 %
Revenue volatility30.2 %
Summary of Reconciliation of Beginning and Ending Balances of the Level 3 Instruments
The following table provides a reconciliation of beginning and ending balances of the Level 3 financial liabilities during the nine months ended June 30, 2023:

(in thousands)Total
Balance as of September 30, 2022
$2,100 
Change in fair value (2,100)
Addition during the period $3,711 
Balance as of June 30, 2023
$3,711