Leases (Tables)

3 Months Ended

Dec. 31, 2024

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


Lease Assets and Liabilities	Classification	December 31, 2024		September 30, 2024
		(in thousands)

Operating lease assets	Right-of-use assets	$	44,869	$	45,255

Current operating lease liabilities	Lease liabilities	6,560		6,342

Non-current operating lease liabilities	Lease liabilities, net of current portion	109,296		111,027


			Three Months Ended December 31,
Lease Cost	Classification		2024		2023
		(in thousands)

Operating lease cost	Research and development		$	2,811	$	2,994
	General and administrative expense		493		476

Variable lease cost (1)	Research and development		985		779
	General and administrative expense		—		—

Total			$	4,289	$	4,249

(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 December 31, 2024:


Year	Amounts
	(in thousands)
2025 (remainder of fiscal year)	$	11,616
2026	15,799
2027	14,974
2028	13,619
2029	13,905
2030 and thereafter	114,790
Total	$	184,703
Less imputed interest	$	(68,847)
Total operating lease liabilities (includes current portion)	$	115,856

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


	Three Months Ended December 31,
	2024			2023




Cash received for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	—		$	3,099
Right-of-use assets adjusted in exchange for new/amended operating lease liabilities	$	—		$	64
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,840		$	2,080

Weighted-average remaining lease term (in years)	12.4			13.3
Weighted-average discount rate	8.0		%	8.0		%