Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Loss Before Income Tax Expense and Noncontrolling Interest

The components of the loss before income tax expense and noncontrolling interest are as follows:

	Year Ended September 30,
	2024		2023		2022
	(in thousands)
Domestic	$	(582,333)	$	(194,639)	$	(170,570)
Foreign	(30,127)		(7,852)		(1,708)
Total	$	(612,460)	$	(202,491)	$	(172,278)

Provisions for Income Taxes

The provision for income taxes consisted of the following components:

	Year Ended September 30,
	2024		2023		2022
	(in thousands)
Current:
Federal	$	148	$	1,074	$	—
State	375		1,710		304
Foreign	(3,290)		—		3,481
Total current tax	$	(2,767)	$	2,784	$	3,785
Deferred:
Federal	$	—	$	—	$	—
State	—		—		—
Foreign	—		—		—
Total deferred tax	$	—	$	—	$	—
Income tax provision	$	(2,767)	$	2,784	$	3,785

Summary of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the tax expense based on the statutory rate to the Company’s actual tax expense in the consolidated statements of operations and comprehensive loss. A notional 21% tax rate was applied as follows:

	September 30,
	2024		2023		2022
U.S. federal statutory income tax	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.6	%	0.4	%	8.6	%
Tax credits	3.0	%	6.8	%	—	%
Permanent and other items	2.5	%	(4.6)	%	(1.7)	%
Non-deductible compensation	(0.9)	%	(4.6)	%	—	%
Foreign-derived intangible income deduction	—	%	1.2	%	—	%
Stock compensation	(0.7)	%	(1.1)	%	(1.7)	%
Valuation allowance	(27.0)	%	(20.5)	%	(28.4)	%
Effective income tax rate	0.5	%	(1.4)	%	(2.2)	%

Components of the Net Deferred Tax Assets and Liabilities

The following table presents the significant components of the Company’s net deferred tax assets and liabilities:

	September 30,
	2024		2023
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	102,716	$	60,495
Capitalized research and development	156,015		75,208
Tax credits	85,428		66,407
Deferred revenue	81,556		59,441
Lease liabilities	27,999		25,382
Stock compensation	10,989		10,296
Accrued compensation	4,078		3,082
Intangible assets	1,384		1,523
Other	2,843		2,636
Total gross deferred tax assets	$	473,008	$	304,470
Valuation allowance	$	(448,867)	$	(284,626)
Deferred tax liabilities:
Fixed assets	$	(13,155)	$	(9,878)
Right-of-use assets	(10,792)		(9,966)
Unrealized gains	(194)		—
Total gross deferred tax liability	$	(24,141)	$	(19,844)
Net deferred tax assets (liabilities)	$	—	$	—

Schedule of Gross Unrecognized Tax Benefits

The following table summarizes the Company’s gross unrecognized tax benefits:

	Year Ended September 30,
	2024		2023		2022
	(in thousands)
Beginning balance of unrecognized tax benefits	$	14,536	$	3,481	$	—
Gross increase for prior period tax positions	654		9,495		3,481
Gross decrease for prior period tax positions	—		(1,489)		—
Gross increase for current period tax positions	3,415		3,049		—
Lapse of statue of limitations	(1,992)		—		—
Ending balance of unrecognized tax benefits	$	16,613	$	14,536	$	3,481