Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2023

Fair Value Measurements for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company:


	March 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)

U.S. government bonds	$	23,074	$	—	$	—	$	23,074
Municipal securities	—		7,034		—		7,034
Commercial notes	—		95,786		—		95,786
Corporate debt securities	—		306,950		—		306,950
Certificate of deposits	—		—		—		—
Money market instruments	53,743		—		—		53,743


	September 30, 2022
	Level 1		Level 2		Level 3		Total
	(in thousands)

U.S. government bonds	$	1,973	$	—	$	—	$	1,973
Commercial notes	—		41,727		—		41,727
Corporate debt securities	—		271,333		—		271,333
Certificate of deposits	50,000		—		—		50,000
Money market instruments	39,262		—		—		39,262