Leases (Tables)

12 Months Ended

Sep. 30, 2025

The components of lease assets and liabilities along with their classification on the Company’s consolidated balance sheets were as follows:


		September 30,
Lease Assets and Liabilities	Classification	2025		2024
		(in thousands)

Operating lease assets	Right-of-use assets	$	43,891	$	45,255
Current operating lease liabilities	Lease liabilities	7,289		6,342
Non-current operating lease liabilities	Lease liabilities, net of current portion	104,112		111,027


		Year Ended September 30,
Lease Cost	Classification	2025		2024		2023
		(in thousands)

Operating lease cost	Research and development	$	10,483	$	11,035	$	10,350
	General and administrative expense	1,952		2,006		1,730

Variable lease cost(1)	Research and development	4,076		3,648		1,179
	General and administrative expense	—		—		—
Total		$	16,511	$	16,689	$	13,259

(1) Variable lease cost is primarily related to operating expenses associated with the Company’s operating leases.

The following table presents maturities of operating lease liabilities on an undiscounted basis as of September 30, 2025:


Year	Amounts
	(in thousands)
2026	$	15,873
2027	15,050
2028	13,696
2029	13,985
2030	14,282
2031 and thereafter	100,672
Total	$	173,558
Less imputed interest	(62,157)
Total operating lease liabilities	$	111,401

Supplemental cash flow and other information related to leases was as follows:


	Year Ended September 30,
	2025			2024			2023
	(in thousands)
Cash received for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	—		$	3,099		$	48,391
Right-of-use assets adjusted in exchange for new/amended operating lease liabilities	$	—		$	(29)		$	17,071
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	15,474		$	11,038		$	5,204

Weighted-average remaining lease term (in years)	11.70			12.5			13.5
Weighted-average discount rate	8.0		%	8.0		%	8.0		%