Leases (Tables)

12 Months Ended

Sep. 30, 2024

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	2024		2023
		(in thousands)

Operating lease assets	Right-of-use assets	$	45,255	$	45,297
Current operating lease liabilities	Lease liabilities	6,342		10,563
Non-current operating lease liabilities	Lease liabilities, net of current portion	111,027		104,608


		Year Ended September 30,
Lease Cost	Classification	2024		2023		2022
		(in thousands)

Operating lease cost	Research and development	$	11,035	$	10,350	$	7,278
	General and administrative expense	2,006		1,730		1,757

Variable lease cost(1)	Research and development	3,648		1,179		728
	General and administrative expense	—		—		—
Total		$	16,689	$	13,259	$	9,763

(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, 2024:


Year	Amounts
	(in thousands)
2025	$	15,456
2026	15,799
2027	14,974
2028	13,619
2029	13,905
2030 and thereafter	114,790
Total	$	188,543
Less imputed interest	(71,174)
Total operating lease liabilities	$	117,369

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


	Year Ended September 30,
	2024			2023			2022
	(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	$	11,038		$	5,204		$	4,500

Weighted-average remaining lease term (in years)	12.5			13.5			7
Weighted-average discount rate	8.0		%	8.0		%	8.5		%